Madison-Ridgeland Academy
- Assets
- $36.3m
- Revenue
- $20.7m
- Investments
- $0.0
- Employees
- 356
- Location
- Madison, MS
- Founding
- 12/1990
- Data as of
- 05/2024
- EIN
- 64-0478043
Organization Overview
Madison-Ridgeland Academy is located in Madison, MS. The organization was established in 1990. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 05/2024, Madison-Ridgeland Academy employed 356 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Madison-Ridgeland 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 05/2024, Madison-Ridgeland Academy generated $20.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.2% each year. All expenses for the organization totaled $17.7m during the year ending 05/2024. While expenses have increased by 6.8% per year over the past 8 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
INDEPENDENT SCHOOL (GRADES K-3 THROUGH 12)
Describe the Organization's Program Activity:
Part 3 - Line 4a
CLASSES ARE PROVIDED FOR GRADES K3-12
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Termie Land Head Of Scho | Officer | 40 | $238,931 |
Greg Self Hs Principal | 40 | $162,809 | |
Herbert Davis Hs Dean Of S | 40 | $110,688 | |
Kevin Bailey Treasurer | OfficerTrustee | 1 | $0 |
Margaret Biggs Trustee | Trustee | 1 | $0 |
Melissa Duncan Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,232,459 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,084,918 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,317,377 |
| Total Program Service Revenue | $16,998,309 |
| Investment income | $229,290 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$27,636 |
| Net Income from Fundraising Events | $202,550 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $20,719,890 |
| 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. | $238,931 |
| Compensation of current officers, directors, key employees. | $203,091 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,293,539 |
| Pension plan accruals and contributions | $344,693 |
| Other employee benefits | $0 |
| Payroll taxes | $740,606 |
| 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 | $67,504 |
| Office expenses | $37,420 |
| Information technology | $190,721 |
| Royalties | $0 |
| Occupancy | $1,271,019 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $205,783 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,942,036 |
| Insurance | $927,428 |
| All other expenses | $0 |
| Total functional expenses | $17,732,440 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,393,802 |
| Pledges and grants receivable | $1,256,705 |
| Accounts receivable, net | $47,549 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $81,380 |
| Prepaid expenses and deferred charges | $217,879 |
| Net Land, buildings, and equipment | $26,311,786 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,033,519 |
| Total assets | $36,342,620 |
| Accounts payable and accrued expenses | $1,254,755 |
| Grants payable | $0 |
| Deferred revenue | $859,396 |
| Tax-exempt bond liabilities | $6,609,313 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $42,199 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $577,312 |
| Total liabilities | $9,342,975 |
| Net assets without donor restrictions | $22,116,203 |
| Net assets with donor restrictions | $4,883,442 |
| 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 | $36,342,620 |