Madison Academy
- Assets
- $1.6m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 198
- Location
- Madison, TN
- Founding
- 04/1947
- Data as of
- 06/2017
- EIN
- 62-0521202
Organization Overview
Madison Academy is located in Madison, TN. The organization was established in 1947. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 06/2017, Madison Academy employed 198 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Madison 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 06/2017, Madison Academy generated $2.3m in total revenue. This represents relatively stable growth, over the past 2 years the organization has increased revenue by an average of 8.3% each year. All expenses for the organization totaled $2.4m during the year ending 06/2017. While expenses have increased by 11.1% per year over the past 2 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
2017
Describe the Organization's Mission:
Part 3 - Line 1
MADISON ACADEMY ("THE ORGANIZATION") IS OPERATED BY THE KY-TN CONFERENCE OF SEVENTH-DAY ADVENTISTS TO PROVIDE A CHRISTIAN EDUCATION TO SECONDARY LEVEL STUDENTS WITHIN THE TERRITORY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MADISON ACADEMY (THE ORGANIZATION) IS OPERATED BY THE KY-TN CONFERENCE OF SEVENTH-DAY ADVENTIST TO PROVIDE A CHRISTIAN EDUCATION TO SECONDARY LEVEL STUDENTS WITHIN THE TERRITORY.
MADISON ACADEMY (THE ORGANIZATION) IS OPERATED BY THE KY-TN CONFERENCE OF SEVENTH-DAY ADVENTIST TO PROVIDE A CHRISTIAN EDUCATION TO SECONDARY LEVEL STUDENTS WITHIN THE TERRITORY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kristine Fuentes Principal | Trustee | 43 | $59,625 |
Stephen Bralley Director | Trustee | $0 | |
Doug Hilliard Treasurer | Trustee | $0 | |
Mel Santos Director | Trustee | $0 | |
Nelson Stokes Director | Trustee | $0 | |
Ervin Brown Vice Chairma | Trustee | $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 | $757,986 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $757,986 |
| Total Program Service Revenue | $927,565 |
| Investment income | $216 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $10,737 |
| 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 | $2,273,834 |
| 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. | $59,625 |
| Compensation of current officers, directors, key employees. | $59,625 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,445,458 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,896 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $450,663 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $41,464 |
| Inventories for sale or use | $329,036 |
| Prepaid expenses and deferred charges | $22,685 |
| Net Land, buildings, and equipment | $685,501 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $74,656 |
| Total assets | $1,610,901 |
| Accounts payable and accrued expenses | $289,562 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $486,834 |
| Total liabilities | $776,396 |
| Unrestricted restricted net Assets | $725,622 |
| Temporarily restricted net Assets | $87,856 |
| Permanently restricted net Assets or current funds | $21,027 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $834,505 |