Merit Academy
- Assets
- $4.3m
- Revenue
- $4.4m
- Investments
- $0.0
- Employees
- 84
- Location
- Woodland Park, CO
- Founding
- Data as of
- 06/2023
- EIN
- 85-2365942
Organization Overview
Merit Academy is located in Woodland Park, CO. 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 06/2023, Merit Academy employed 84 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Merit 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 06/2023, Merit Academy generated $4.4m in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 26.8% each year . All expenses for the organization totaled $5.8m during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
MERIT ACADEMY WILL CULTIVATE THE MINDS AND NURTURE THE HEARTS OF K-12 YOUTH IN THE UTE PASS/WOODLAND PARK REGION WITH INSTRUCTION IN THE PRINCIPLES OF MORAL CHARACTER AND CIVIC VIRTUE, EMPLOYING HONORED FOUNDATIONS OF CLASSICAL EDUCATION AND CORE KNOWLEDGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MERIT ACADEMY WILL CULTIVATE THE MINDS AND NURTURE THE HEARTS OF K-12 YOUTH IN THE UTE PASS/WOODLAND PARK REGION WITH INSTRUCTION IN THE PRINCIPLES OF MORAL CHARACTER AND CIVIC VIRTUE, EMPLOYING HONORED FOUNDATIONS OF CLASSICAL EDUCATION AND CORE KNOWLEDGE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nicole Waggoner Board President | OfficerTrustee | 2 | $0 |
Jason Ledlie Board Vice President | OfficerTrustee | 2 | $0 |
Mary Sekowski Board Treasurer | OfficerTrustee | 2 | $0 |
John Dill Board Secretary | OfficerTrustee | 2 | $0 |
Gwynne Pekron Headmaster | Officer | 60 | $62,623 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $16,331 |
| Related organizations | $0 |
| Government grants | $535,365 |
| All other contributions, gifts, grants, and similar amounts not included above | $388,272 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $939,968 |
| Total Program Service Revenue | $3,435,816 |
| Investment income | $24 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,500 |
| Net Income from Fundraising Events | -$1,000 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,399,236 |
| 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. | $84,331 |
| Compensation of current officers, directors, key employees. | $12,650 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,002,786 |
| Pension plan accruals and contributions | $1,349,962 |
| Other employee benefits | $235,995 |
| Payroll taxes | $43,986 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $300 |
| Fees for services: Accounting | $35,049 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,156 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $39,703 |
| Travel | $5,915 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $48,542 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $634,351 |
| Insurance | $9,172 |
| All other expenses | $165,921 |
| Total functional expenses | $5,781,676 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $516,059 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $313,979 |
| Accounts receivable, net | $457 |
| 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 | $19,080 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,476,888 |
| Total assets | $4,326,463 |
| Accounts payable and accrued expenses | $432,799 |
| 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 | $519,263 |
| Other liabilities | $4,625,653 |
| Total liabilities | $5,577,715 |
| Net assets without donor restrictions | -$1,361,252 |
| Net assets with donor restrictions | $110,000 |
| 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 | $4,326,463 |