Edgewood Academy Inc
- Assets
- $1.1m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 59
- Location
- Elmore, AL
- Founding
- 08/2010
- Data as of
- 05/2024
- EIN
- 63-1035437
Organization Overview
Edgewood Academy Inc is located in Elmore, AL. The organization was established in 2010. 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 05/2024, Edgewood Academy Inc employed 59 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Edgewood 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 05/2024, Edgewood Academy Inc generated $2.1m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $1.9m during the year ending 05/2024. As we would expect to see with falling revenues, expenses have declined by (2.2%) per year over the past 9 years. 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
EDGEWOOD ACADEMY PROVIDES STUDENTS WITH A COMPREHENSIVE COLLEGE PREPARATORY EDUCATION IN A SAFE AND SUPPORTIVE ENVIRONMENT, PREPARING STUDENTS FOR A FUTURE OF LIFELONG LEARNING AND PRODUCTIVE CITIZENSHIP.
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 |
|---|---|---|---|
Bart Mercer Chairman & Trustee | OfficerTrustee | 0 | $0 |
Carey Dennis Vice-Chairman & Trustee | OfficerTrustee | 0 | $0 |
Tara Allison Trustee | Trustee | 0 | $0 |
Michael Boone Trustee | Trustee | 0 | $0 |
Jay Collier Co-Treasurer & Trustee | OfficerTrustee | 0 | $0 |
Jo Wood Treasurer & Trustee | OfficerTrustee | 0 | $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 | $40,839 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $40,839 |
| Total Program Service Revenue | $1,966,190 |
| Investment income | $0 |
| 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 | $2,060,417 |
| 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. | $144,168 |
| Compensation of current officers, directors, key employees. | $45,417 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $757,490 |
| Pension plan accruals and contributions | $12,052 |
| Other employee benefits | $0 |
| Payroll taxes | $68,615 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,191 |
| 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 | $19,909 |
| Information technology | $25,015 |
| Royalties | $0 |
| Occupancy | $115,622 |
| Travel | $6,721 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $56,200 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $56,578 |
| Insurance | $82,273 |
| All other expenses | $10,898 |
| Total functional expenses | $1,940,915 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $56,713 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $78,641 |
| 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 | $0 |
| Net Land, buildings, and equipment | $974,416 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $15,833 |
| Other assets | $0 |
| Total assets | $1,125,603 |
| Accounts payable and accrued expenses | $13,634 |
| 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 | $891,637 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $67,030 |
| Total liabilities | $972,301 |
| 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 | $464,745 |
| Retained earnings, endowment, accumulated income, or other funds | -$311,443 |
| Total liabilities and net assets/fund balances | $1,125,603 |