Westminster Academy Inc
- Assets
- $267.7k
- Revenue
- $439.8k
- Investments
- $0.0
- Employees
- 37
- Location
- Richmond, VA
- Founding
- 06/1988
- Data as of
- 07/2022
- EIN
- 54-1426443
Organization Overview
Westminster Academy Inc is located in Richmond, VA. The organization was established in 1988. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 07/2022, Westminster Academy Inc employed 37 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Westminster Academy Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 07/2022, Westminster Academy Inc generated $439.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $435.8k during the year ending 07/2022. While expenses have increased by 3.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE AN EDUCATIONAL FACILITY FOR APPROXIMATELY 145 CHILDREN. TO PROVIDE A GOOD EDUCATION AND SOUND DEVELOPMENTAL ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE A GOOD EDUCATION AND SOUND DEVELOPMENTAL ACTIVITIES TO APPROXIMATELY 173 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Ann Easterling Director/school Administrator | Trustee | 40 | $61,040 |
Jill Smith Director | Trustee | 2 | $13,036 |
Emily Morgan Director | Trustee | 2 | $5,386 |
Darin Smith Chairman | OfficerTrustee | 2 | $0 |
Al Yancey Director | OfficerTrustee | 2 | $0 |
Ashley Wheat Secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,255 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,255 |
| Total Program Service Revenue | $430,883 |
| Investment income | $26 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $1,076 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $439,799 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $79,462 |
| Compensation of current officers, directors, key employees. | $61,040 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $245,886 |
| Pension plan accruals and contributions | $1,392 |
| Other employee benefits | $0 |
| Payroll taxes | $45,720 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,125 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,998 |
| Advertising and promotion | $188 |
| Office expenses | $1,839 |
| Information technology | $2,860 |
| Royalties | $0 |
| Occupancy | $46,088 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $179 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $923 |
| Insurance | $4,209 |
| All other expenses | $0 |
| Total functional expenses | $435,786 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $153,965 |
| Savings and temporary cash investments | $106,752 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $560 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,924 |
| Net Land, buildings, and equipment | $1,525 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $267,726 |
| Accounts payable and accrued expenses | $229 |
| Grants payable | $0 |
| Deferred revenue | $134,276 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $134,505 |
| Net assets without donor restrictions | $133,221 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $267,726 |
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