Westminster Academy Inc
- Assets
- $240.7k
- Revenue
- $518.1k
- Investments
- $0.0
- Employees
- 40
- Location
- Henrico, VA
- Founding
- 06/1988
- Data as of
- 07/2024
- EIN
- 54-1426443
Organization Overview
Westminster Academy Inc is located in Henrico, 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 07/2024, Westminster Academy Inc employed 40 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 07/2024, Westminster Academy Inc generated $518.1k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $525.6k during the year ending 07/2024. While expenses have increased by 4.5% per year over the past 5 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE AN EDUCATIONAL FACILITY FOR APPROXIMATELY 180 CHILDREN. TO PROVIDE A GOOD EDUCATION AND SOUND DEVELPMENTAL ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE A GOOD EDUCATION AND SOUND DEVELPMENTAL ACTIVITES TO APPROXIMATELY 180 STUDENTS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Glassbrook Director | Trustee | 2 | $0 |
Leah Ayers Director | Trustee | 2 | $0 |
Cary Ayers Director | Trustee | 2 | $0 |
Emily Morgan Director | Trustee | 2 | $0 |
Tim Morgan Treasurer | Trustee | 2 | $0 |
Christi Glassbrook Director | Trustee | 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 | $1,279 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,279 |
| Total Program Service Revenue | $510,594 |
| Investment income | $1,794 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $1,812 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $518,084 |
| 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. | $72,755 |
| Compensation of current officers, directors, key employees. | $72,755 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $349,787 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $32,597 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,724 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,687 |
| Advertising and promotion | $1,568 |
| Office expenses | $979 |
| Information technology | $3,120 |
| Royalties | $0 |
| Occupancy | $28,594 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $523 |
| Insurance | $5,738 |
| All other expenses | $3,463 |
| Total functional expenses | $525,626 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $46,756 |
| Savings and temporary cash investments | $189,163 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $3,134 |
| Net Land, buildings, and equipment | $1,610 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $240,663 |
| Accounts payable and accrued expenses | $263 |
| Grants payable | $0 |
| Deferred revenue | $89,213 |
| 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 | $89,476 |
| Net assets without donor restrictions | $151,187 |
| 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 | $240,663 |