Utah Charter Academies
- Assets
- $92.2m
- Revenue
- $54.7m
- Investments
- $17.5m
- Employees
- 985
- Location
- Draper, UT
- Founding
- 09/2003
- Data as of
- 06/2022
- EIN
- 68-0547532
Organization Overview
Utah Charter Academies, operating under the name American Preparatory Academy, is located in Draper, UT. The organization was established in 2003. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2022, American Preparatory Academy employed 985 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Preparatory 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, American Preparatory Academy generated $54.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.0% each year . All expenses for the organization totaled $50.6m during the year ending 06/2022. While expenses have increased by 10.2% 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 ENSURE EACH STUDENT ACHIEVES MAXIMUM ACADEMIC SUCCESS BY TEACHING SKILLS TO MASTERY LEVELS, IMPARTING VALUABLE KNOWLEDGE, TRANSMITTING COMMON CULTURE THAT BINDS US AS A NATION, AND EXPOSING CHILDREN TO SUPREME EXAMPLES OF ARTISTIC AND INTELLECTUAL ACHIEVEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
UTAH CHARTER ACADEMIES, INC. OPERATES 6 CHARTER SHCOOLS IN UTAH LOCATED IN DRAPER (DRAPER I AND DRAPER II SERVE 6-6 GRADE STUDENTS WITH DRAPER III SERVING 7-12 GRADE STUDENTS), WEST VALLEY CITY (WEST VALLEY I SERVES K-9 GRADE STUDENTS AND WEST VALLEY II SERVING 5-12 GRADE STUDENTS), AND SALEM (SERVING 5-9 STUDENTS) AND AFTER-SCHOOL DAYCARE PROGRAMS FOR STUDETNS AND FACULTY
TO OPERATE A SCHOOL LUNCH PROGRAM SERVING STUDENTS AND FACULTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dee Henderson Chairman | OfficerTrustee | 1 | $0 |
Thomas Young Treasurer | Trustee | 1 | $0 |
Stephanie Henderson Secretary | Trustee | 1 | $0 |
Ted Heap Vice Chair | Trustee | 1 | $0 |
Brad Blanchart Member | Trustee | 1 | $0 |
Carolyn Sharette Executive Dir. | Officer | 40 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
American Preparatory Schools Management Services | 6/29/22 | $0 |
Aj Carpet Cleaning And Services Carpet Cleaning | 6/29/22 | $0 |
Stoel Rives Legal | 6/29/22 | $0 |
One Source Property Maintenance Landscaping | 6/29/22 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $53,302,683 |
| All other contributions, gifts, grants, and similar amounts not included above | $56,028 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $53,358,711 |
| Total Program Service Revenue | $1,196,200 |
| Investment income | $84,442 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $94,126 |
| 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 | $54,733,479 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $24,952,363 |
| Pension plan accruals and contributions | $759,747 |
| Other employee benefits | $3,234,678 |
| Payroll taxes | $1,787,039 |
| Fees for services: Management | $6,562,663 |
| 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 | $2,713,119 |
| Advertising and promotion | $64,028 |
| Office expenses | $99,756 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,586,400 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,206,150 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,472,444 |
| Insurance | $258,859 |
| All other expenses | $370,549 |
| Total functional expenses | $50,609,467 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,689,042 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,294,394 |
| 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 | $26,086 |
| Net Land, buildings, and equipment | $57,806,474 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $17,536,673 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,798,872 |
| Total assets | $92,151,541 |
| Accounts payable and accrued expenses | $4,591,378 |
| Grants payable | $0 |
| Deferred revenue | $420,426 |
| Tax-exempt bond liabilities | $73,776,788 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $6,034,609 |
| Unsecured mortgages and notes payable | $2,507,326 |
| Other liabilities | $0 |
| Total liabilities | $87,330,527 |
| Net assets without donor restrictions | $4,821,014 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $92,151,541 |