Rocky Mountain Classical Academy FY2024 filing

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501(c)(3) charity; gifts are tax-deductible.
81¢ of each $1 spent went to programs.
$237K paid to officers and key staff.
Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 7
filings with a surplus
Average surplus $1.1M a year · 7% of revenue · last 7 filings
Worth a look: a surplus in 4 of the last 7 filings.
Pt I · Ln 19 · 7 filings
Spent on programs
81%
of spending
Looks good: 81% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$237K
to officers and key staff · 1% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
5 mo
of spending, in cash
Looks good: 4.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $461
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$16.6M
129% of total assets
Concern: liabilities are 129% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$19.2M
+20% vs prior year
Spent
$18.7M
To programs
81%
Net assets
−$3.7M
By yearFY2019–FY2025
Revenue
$19.2M
FY2024▲ +20%
Tap a bar for its year
Revenue by fiscal year
FY2019$12.4M
FY2020$12.3M
FY2021$13.3M
FY2022$14.4M
FY2023$16.0M
FY2024$19.2M
FY2025$19.8M
Expenses
$18.7M
FY2024▲ +15%
Tap a bar for its year
Expenses by fiscal year
FY2019$12.8M
FY2020$12.7M
FY2021$9.7M
FY2022$10.6M
FY2023$16.3M
FY2024$18.7M
FY2025$18.7M
Net assets
−$3.7M
FY2024▲ +13%
Tap a bar for its year
Net assets by fiscal year
FY2019−$16.9M
FY2020−$17.4M
FY2021−$7.8M
FY2022−$4.0M
FY2023−$4.3M
FY2024−$3.7M
FY2025−$2.6M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 2008.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

81 cents of each dollar spent went to programs.

Program services 81% · $15.1M Management & general 19% · $3.6M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

11 people listed on the 990; $237K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Executive Principal (former)
$141,279Pt VII · Sec A
Interim Ed & Business Manager
$96,120Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Executive Principal
$0Pt VII · Sec A

Chad Cullers’s $122K as Assistant Principal is at the 7th percentile of top reported officer pay among 3683 $10–100M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 7 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Cullen McDowell—$141,279$132,781$127,986$153,810$105,657
Christianna Fogler——————
Chad Cullers$121,935$96,120————
John E Ballew——$120,049———
John Ballew$109,619——$100,951——
Tam Smith$106,309—————
Clay Traylor$67,060—————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Operates a public, nonreligious school under Colorado's Charter Schools Act.

Questions for Rocky Mountain Classical Academy

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1 program · $15.1M · in their own filed words · FY2023
01

Organized and operated exclusively for educational purposes

$15.1Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 1 funder$461

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$19.2M
Ln 12
Fees for servicesLn 2g$15.7M
Gifts and grantsLn 1h$1.9M
Other incomeLn 4–11$1.4M
Money outPt IX
$18.7M
Ln 25
Programscol B$15.1M
Managementcol C$3.6M
Owns and owesPt X
−$3.7M
net assets · Ln 32
Cash and savingsLn 1–2$7.2M
Total assetsLn 16$12.9M
LiabilitiesLn 26$16.6M
PeoplePt VI, VII
11
listed · VII A
PaidVII A2
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.9M
Government grantsLn 1e$1.8M
Fundraising eventsLn 1c$89K
Fees for servicesLn 2g$15.7M
Investment incomeLn 3$238K
Other incomeLn 4–11$1.4M
Total revenueLn 12$19.2M
Assets in detailPt X, end of year
CashLn 1$2.8M
SavingsLn 2$4.4M
Cash and savings togetherLn 1–2$7.2M
Pledges and grants receivableLn 3$191K
Accounts receivableLn 4$825K
Prepaid expenses and deferred chargesLn 9$84K
Land, buildings, equipmentLn 10c$146K
Other assetsLn 15$4.4M
Total assetsLn 16$12.9M
LiabilitiesLn 26$16.6M
Net assetsLn 32−$3.7M
OperationsPt I, VI
EmployeesI 5203
VolunteersI 61,629
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$6.5M$7.2M
Land, buildings, equipmentLn 10c$47K$146K
Total assetsLn 16$9.8M$12.9M
LiabilitiesLn 26$14.1M$16.6M
Net assetsLn 32−$4.3M−$3.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$463K$370K$93K
Other salaries and wagesLn 7$6.1M$4.9M$1.2M
Pension plan contributionsLn 8$1.7M$1.4M$343K
Other employee benefitsLn 9$720K$576K$144K
Payroll taxesLn 10$144K$115K$29K
Legal feesLn 11b$46K$46K
Accounting feesLn 11c$203K$203K
Other fees for servicesLn 11g$67K$50K$17K
Advertising and promotionLn 12$42K$31K$10K
Office expensesLn 13$58K$44K$15K
Information technologyLn 14$337K$253K$84K
OccupancyLn 16$3.4M$2.6M$854K
TravelLn 17$146K$117K$29K
InterestLn 20$3K$2K$676
Depreciation, depletion and amortizationLn 22$29K$22K$7K
InsuranceLn 23$138K$103K$34K
Other expenses (24a–d)Ln 24$4.2M$3.8M$318K
All other expensesLn 24e$880K$754K$126K
Total functional expensesLn 25$18.7M$15.1M$3.6M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS May 7, 2026 $19.8M$18.7M$1.1M−$2.6M 990 PDF
FY2024 ViewingFiled with the IRS Nov 14, 2024 $19.2M$18.7M$544K−$3.7M 990 PDF
FY2023Filed with the IRS Apr 5, 2024 $16.0M$16.3M−$282K−$4.3M 990 PDF
FY2022Filed with the IRS Feb 17, 2023 $14.4M$10.6M$3.8M−$4.0M 990 PDF
FY2021Filed with the IRS Jan 15, 2022 $13.3M$9.7M$3.5M−$7.8M 990 PDF
FY2020Filed with the IRS Apr 22, 2021 $12.3M$12.7M−$486K−$17.4M 990 PDF
FY2019Filed with the IRS Apr 22, 2021 $12.4M$12.8M−$437K−$16.9M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $19,249,224 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,828,294$1,875,818
I-9 Program service revenuePrior year $14,196,195$15,727,972
I-10 Investment incomePrior year $36,755$237,620
I-11 Other revenuePrior year −$80,504$1,407,814
I-12 Total revenuePrior year $15,980,740$19,249,224
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $7,979,791$9,175,359
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $8,282,756$9,529,852
I-18 Total expensesPrior year $16,262,547$18,705,211
I-19 Revenue less expensesPrior year −$281,807$544,013
Part VI · Governance 7 of 7 board members independent, 2 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
Part VIII · Statement of revenue $19,249,224 across 8 lines filed
VIII-1c Fundraising events$88,928
VIII-1e Government grants$1,786,890
VIII-1h Total contributions, gifts and grants$1,875,818
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $15,727,972$15,727,972
VIII-3 Investment incomeExcluded from tax $237,620$237,620
VIII-8 Net income from fundraising eventsExcluded from tax −$72,216−$72,216
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $423,176 · Excluded from tax $1,056,854$1,480,030
VIII-12 Total revenueRelated to mission $16,151,148 · Unrelated business $0 · Excluded from tax $1,222,258$19,249,224
Part IX · Statement of functional expenses $18,705,211 across 18 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $370,166 · Management $92,542$462,708
IX-7 Other salaries and wagesPrograms $4,909,076 · Management $1,227,269$6,136,345
IX-8 Pension plan contributionsPrograms $1,370,030 · Management $342,507$1,712,537
IX-9 Other employee benefitsPrograms $575,993 · Management $143,998$719,991
IX-10 Payroll taxesPrograms $115,022 · Management $28,756$143,778
IX-11b Legal feesManagement $46,036$46,036
IX-11c Accounting feesManagement $202,515$202,515
IX-11g Other fees for servicesPrograms $50,133 · Management $16,711$66,844
IX-12 Advertising and promotionPrograms $31,139 · Management $10,380$41,519
IX-13 Office expensesPrograms $43,558 · Management $14,519$58,077
IX-14 Information technologyPrograms $252,726 · Management $84,242$336,968
IX-16 OccupancyPrograms $2,563,118 · Management $854,373$3,417,491
IX-17 TravelPrograms $116,808 · Management $29,202$146,010
IX-20 InterestPrograms $2,027 · Management $676$2,703
IX-22 Depreciation, depletion and amortizationPrograms $21,807 · Management $7,269$29,076
IX-23 InsurancePrograms $103,408 · Management $34,469$137,877
IX-24 Other expenses (24a–d)Programs $3,846,276 · Management $318,127$4,164,403
IX-24e All other expensesPrograms $753,923 · Management $126,410$880,333
IX-25 Total functional expensesPrograms $15,125,210 · Management $3,580,001 · Fundraising $0$18,705,211
Part X · Balance sheet $12,892,042 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $6,537,174$2,835,321
X-2 Savings and temporary cash investments$4,383,016
X-3 Pledges and grants receivableStart of year $285,637$190,851
X-4 Accounts receivableStart of year $90,450$824,645
X-9 Prepaid expenses and deferred chargesStart of year $190,863$83,983
X-10c Land, buildings and equipment, netStart of year $47,087$145,549
X-15 Other assetsStart of year $2,691,218$4,428,677
X-16 Total assetsStart of year $9,842,429$12,892,042
X-17 Accounts payable and accrued expensesStart of year $1,107,475$1,463,341
X-19 Deferred revenueStart of year $17,337$5,368
X-23 Secured mortgages and notes payableStart of year $46,835$31,968
X-25 Other liabilitiesStart of year $12,938,313$15,114,883
X-26 Total liabilitiesStart of year $14,109,960$16,615,560
X-27 Net assets without donor restrictionsStart of year −$4,724,531−$4,212,518
X-28 Net assets with donor restrictionsStart of year $457,000$489,000
X-32 Total net assets or fund balancesStart of year −$4,267,531−$3,723,518
X-33 Total liabilities and net assetsStart of year $9,842,429$12,892,042
Part XI · Reconciliation of net assets −$3,723,518 net assets at year end
XI-1 Total revenue$19,249,224
XI-2 Total expenses$18,705,211
XI-3 Revenue less expenses$544,013
XI-4 Net assets at start of year−$4,267,531
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$3,723,518

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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