Montgomery Academy Inc
- Assets
- $22.7m
- Revenue
- $13.5m
- Investments
- $0.0
- Employees
- 249
- Location
- Montgomery, AL
- Founding
- 01/1961
- Data as of
- 06/2021
- EIN
- 63-0401358
Organization Overview
Montgomery Academy Inc is located in Montgomery, AL. The organization was established in 1961. According to its NTEE Classification (K20) the organization is classified as: Agricultural Programs, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 06/2022, Montgomery Academy Inc employed 249 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Montgomery 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 06/2021, Montgomery Academy Inc generated $13.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $11.6m during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
COLLEGE PREPATORY SCHOOL KINDERGARTEN THROUGH GRADE 12.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COLLEGE PREPARATORY SCHOOL, KINDERGARTEN THROUGH GRADE 12
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alex Carothers Trustee | Trustee | 1 | $0 |
Ellen Brooks Trustee | Trustee | 1 | $0 |
Cade Armstrong Trustee | Trustee | 1 | $0 |
Courtney Williams Trustee - Secretary-Treasu | OfficerTrustee | 1 | $0 |
Delecia Mcintyre Trustee | Trustee | 1 | $0 |
Doug Robertson Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,530,470 |
| Investment income | $4,364 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$505 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,472,054 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $634,516 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $327,482 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,265,103 |
| Pension plan accruals and contributions | $331,786 |
| Other employee benefits | $589,302 |
| Payroll taxes | $386,814 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $33,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $108,395 |
| Office expenses | $98,964 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $769,866 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $24,774 |
| Interest | $214,112 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $984,578 |
| Insurance | $81,764 |
| All other expenses | $0 |
| Total functional expenses | $11,550,337 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,420,666 |
| Savings and temporary cash investments | $200,000 |
| Pledges and grants receivable | $191,042 |
| Accounts receivable, net | $651,059 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $94,586 |
| Prepaid expenses and deferred charges | $184,518 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,500 |
| Total assets | $22,740,065 |
| Accounts payable and accrued expenses | $1,064,673 |
| Grants payable | $0 |
| Deferred revenue | $3,049,815 |
| Tax-exempt bond liabilities | $7,536,883 |
| 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 | $446,151 |
| Total liabilities | $12,097,522 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $10,642,543 |