Mount Vernon Academy
- Assets
- $28.6k
- Revenue
- $532.4k
- Investments
- $0.0
- Employees
- 12
- Location
- Murray, UT
- Founding
- 12/1982
- Data as of
- 12/2021
- EIN
- 87-0343022
Organization Overview
Mount Vernon Academy is located in Murray, UT. The organization was established in 1982. According to its NTEE Classification (B21) the organization is classified as: Preschools, under the broad grouping of Education and related organizations. As of 12/2021, Mount Vernon Academy employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mount Vernon 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 12/2021, Mount Vernon Academy generated $532.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.1%) each year. All expenses for the organization totaled $570.1k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (5.1%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
WE ARE A PRIVATE SCHOOL OF APPROXIMATELY 100 STUDENTS. OUR STUDENT BODY REPRESENT 10 DIFFERENT COUNTRIES FROM AROUND THE WORLD, ALLOWING FOR A DIVERSE AND CULTURALLY RICH ENVIRONMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MOUNT VERNON ACADEMY HAS SERVED THE WORLD FOR THE PAST 46 YEARS PROVIDING AN AMAZING PLACE TO GATHER, BE EDUCATED, AND SHARE COMMON GOALS. WE SERVE STUDENTS FROM UTAH AND VARIOUS COUNTRIES FROM AROUND THE WORLD. OUR NUMBER ONE PROGRAM SERVICE ACCOMPLISHMENT IS OFFERING OPPORTUNITY FOR STUDENTS TO BE EDUCATED THAT COME FROM SUCH A DIVERSE AND CULTURALLY RICH BACKGROUNDS. OUR TEACHERS WORK 7 HOURS PER DAY AND 180 DAYS PER YEAR TO MAKE EVERY STUDENT FEEL VALUED AND IMPORTANT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Lambson President | Trustee | 40 | $76,000 |
Britney Lambson Trustee | Officer | 2 | $0 |
Ryan Lambson Trustee | Officer | 20 | $0 |
Shannon Lambson Trustee | Officer | 10 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $532,434 |
| 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 | $532,434 |
| 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. | $76,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $146,860 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $16,629 |
| Fees for services: Management | $212,390 |
| 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 | $0 |
| Office expenses | $8,428 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $105,954 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,023 |
| All other expenses | $1,794 |
| Total functional expenses | $570,078 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $28,565 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $28,565 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $28,565 |
| Total liabilities and net assets/fund balances | $28,565 |
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