Learning Foundations Of Metropolitan Washington Inc
- Assets
- $10.1m
- Revenue
- $6.8m
- Investments
- $0.0
- Employees
- 54
- Location
- Alexandria, VA
- Founding
- 07/1999
- Data as of
- 06/2022
- EIN
- 54-1745920
Organization Overview
Learning Foundations Of Metropolitan Washington Inc, operating under the name Commonwealth Academy, is located in Alexandria, VA. The organization was established in 1999. 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 06/2022, Commonwealth Academy employed 54 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Commonwealth Academy 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 06/2022, Commonwealth Academy generated $6.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $6.5m during the year ending 06/2022. While expenses have increased by 1.6% 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 OFFER A COLLEGE PREPARATORY SCHOOL THAT EMBRACES STUDENTS OF AVERAGE TO GIFTED ABILITY WHO HAVE ADHD, EXECUTIVE FUNCTIONING CHALLENGES, AND MILD LEARNING DIFFERENCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL PROGRAM FOR ELEMENTARY,MIDDLE AND HIGH SCHOOL STUDENTS BENEFITING FROM SMALL CLASS SIZE AND CLOSE INSTRUCTIONAL SUPERVISION TO ACCOMODATE LEARNING DIFFERENCES AND ATTENTION DEFICITS. ENROLLMENT FOR THE SCHOOL YEAR 21-22 WAS 154 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anabelle Morgan Head Of School | Officer | 40 | $218,551 |
Matthew Johns Assistant Head Of School | Officer | 40 | $164,803 |
Cherie L Carroll Dir. Of Finance & Operations | 40 | $141,933 | |
Zachary Florin Dir. Of Development/advancement | 40 | $120,656 | |
Joshua Gwilliam Dir. Of Enrollment/admissions | 40 | $116,061 | |
Katherine Theobald Dir. Of High School | 40 | $106,996 |
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 | $127,853 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $127,853 |
| Total Program Service Revenue | $6,305,274 |
| Investment income | $360,920 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,795,329 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $374,950 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $447,855 |
| Compensation of current officers, directors, key employees. | $128,699 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,105,771 |
| Pension plan accruals and contributions | $116,330 |
| Other employee benefits | $244,015 |
| Payroll taxes | $264,567 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $56,957 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $32,220 |
| Fees for services: Other | $157,944 |
| Advertising and promotion | $61,421 |
| Office expenses | $9,500 |
| Information technology | $235,316 |
| Royalties | $0 |
| Occupancy | $868,493 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $13,762 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $113,398 |
| Insurance | $28,267 |
| All other expenses | $146,924 |
| Total functional expenses | $6,521,184 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $288,967 |
| Savings and temporary cash investments | $1,227,015 |
| Pledges and grants receivable | $1,000 |
| Accounts receivable, net | $318,753 |
| 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 | $168,456 |
| Net Land, buildings, and equipment | $245,123 |
| Investments—publicly traded securities | $7,786,707 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $25,000 |
| Other assets | $70,175 |
| Total assets | $10,131,196 |
| Accounts payable and accrued expenses | $265,019 |
| Grants payable | $0 |
| Deferred revenue | $2,192,284 |
| 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 | $137,494 |
| Total liabilities | $2,594,797 |
| Net assets without donor restrictions | $7,524,326 |
| Net assets with donor restrictions | $12,073 |
| 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 | $10,131,196 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Learning Foundations Of Metropolitan Washington Inc has recieved totaling $13,321.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $12,750 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $571 |
Endowment Analysis
| Beg. Balance | $17,236 |
| Net Contributions | $22,208 |
| Other Expense | $27,371 |
| Ending Balance | $12,073 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Louisville Collegiate School Louisville, KY | $44,243,091 | $19,424,992 |
Milton Gottesman Jewish Day School Of The Nations Capital Washington, DC | $47,850,998 | $22,230,618 |
Lincoln Charter School Inc Denver, NC | $10,014,512 | $18,722,799 |
Kentucky Country Day School Inc Louisville, KY | $45,327,857 | $17,940,550 |
Imagine Schools Inc Vienna, VA | $112,554,052 | $31,881,932 |
Capstone Education Group Inc Memphis, TN | $24,521,664 | $20,250,688 |
Meridian Public Charter School Washington, DC | $25,835,715 | $17,496,957 |
St Paul's School For Girls Inc Brooklandville, MD | $0 | $15,914,099 |
Sayre School Lexington, KY | $37,948,520 | $16,925,718 |
St Johns Community Services - District Of Columbia Washington, DC | $113,804 | $20,352,755 |
Lexington Christian Academy Inc Lexington, KY | $37,177,484 | $18,280,442 |
Saint James School Inc Hagerstown, MD | $77,226,869 | $20,561,499 |