Monument Academy FY2021 filing

Tax-deductible

Monument, CO501(c)(3)Since 1995EducationEIN 27-0014128Revenue $9.3M in FY2021

On file with the IRSmonumentacademy.net1150 Village Ridge Pt, 80132-8992 · Monument, COTax-exempt since Sep 2003School — 170(b)(1)(A)(ii)

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The mission of Monument Academy is to provide a rigorous, content-rich academic program.

501(c)(3) charity; gifts are tax-deductible.
62¢ of each $1 spent went to programs.
$253K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · 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 6
filings with a surplus
Average surplus $611K a year · 5% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
62%
of spending
Worth a look: 62% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$253K
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 4.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $136K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$18.8M
216% of total assets
Concern: liabilities are 216% of assets; over 80%.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$9.3M
+9% vs prior year
Spent
$8.8M
To programs
62%
Net assets
−$10.1M
By yearFY2020–FY2025
Revenue
$9.3M
FY2021▲ +9%
Tap a bar for its year
Revenue by fiscal year
FY2020$8.6M
FY2021$9.3M
FY2022$12.1M
FY2023$13.6M
FY2024$14.9M
FY2025$18.9M
Expenses
$8.8M
FY2021▲ +11%
Tap a bar for its year
Expenses by fiscal year
FY2020$7.9M
FY2021$8.8M
FY2022$11.5M
FY2023$14.3M
FY2024$15.7M
FY2025$15.5M
Net assets
−$10.1M
FY2021▲ +28%
Tap a bar for its year
Net assets by fiscal year
FY2020−$14.1M
FY2021−$10.1M
FY2022−$6.1M
FY2023−$7.0M
FY2024−$7.8M
FY2025−$5.0M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 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 Sep 2003.

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

Where the money goes

62 cents of each dollar spent went to programs.

Program services 62% · $5.5M Management & general 38% · $3.3M

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

8 people listed on the 990; $253K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Chief Operating Officer
$91,200Pt VII · Sec A
Elementary Pricipal
$88,974Pt VII · Sec A
Chief Financial Officer
$73,002Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Member at Large
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A

Collin Vinchattle’s $104K as Principal and Executive Di is at the 3rd 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
Collin Vinchattle$103,856$84,639————
Merline Holmes——$91,565———
Christianna Herrera———$34,200$91,200$19,000
Charles Richardson————$88,974—
Marc Brocklehurst——$82,027$74,184$73,002$22,668
Nancy Tive—————$61,365
Merlin Holmes———$56,630——

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

Offers a rigorous, content-rich academic program.

Questions for Monument Academy

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Provided by the organization

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1 program · $5.5M · in their own filed words · FY2020
01

Monument academy provides educational services for approximately 1000 preschool through 9TH grade students.

$5.5Mprogram 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 · FY2024
Total grants receivedfrom 2 funders$136K

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$9.3M
Ln 12
Gifts and grantsLn 1h$8.7M
Fees for servicesLn 2g$584K
Investment incomeLn 3$21K
Money outPt IX
$8.8M
Ln 25
Programscol B$5.5M
Managementcol C$3.3M
Owns and owesPt X
−$10.1M
net assets · Ln 32
Cash and savingsLn 1–2$3.3M
Total assetsLn 16$8.7M
LiabilitiesLn 26$18.8M
PeoplePt VI, VII
8
listed · VII A
PaidVII A3
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$8.7M
Government grantsLn 1e$8.7M
Fees for servicesLn 2g$584K
Investment incomeLn 3$21K
Other incomeLn 4–11$9K
Total revenueLn 12$9.3M
Assets in detailPt X, end of year
CashLn 1$792K
SavingsLn 2$2.5M
Cash and savings togetherLn 1–2$3.3M
Land, buildings, equipmentLn 10c$1.1M
Other assetsLn 15$4.0M
Total assetsLn 16$8.7M
LiabilitiesLn 26$18.8M
Net assetsLn 32−$10.1M
OperationsPt I, VI
EmployeesI 5192
VolunteersI 6450
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$3.8M$3.3M
Land, buildings, equipmentLn 10c$324K$1.1M
Total assetsLn 16$5.6M$8.7M
LiabilitiesLn 26$19.7M$18.8M
Net assetsLn 32−$14.1M−$10.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$265K$96K$169K
Other salaries and wagesLn 7$4.4M$3.8M$564K
Pension plan contributionsLn 8$904K$781K$123K
Other employee benefitsLn 9$407K$364K$43K
Payroll taxesLn 10$64K$55K$10K
Legal feesLn 11b$45K$45K
Accounting feesLn 11c$13K$13K
Other fees for servicesLn 11g$865K$127K$738K
Advertising and promotionLn 12$77K$77K
Office expensesLn 13$90K$90K
Information technologyLn 14$202K$202K
OccupancyLn 16$998K$998K
TravelLn 17$1K$1K
Depreciation, depletion and amortizationLn 22$129K$129K
InsuranceLn 23$103K$103K
Other expenses (24a–d)Ln 24$238K$238K
Total functional expensesLn 25$8.8M$5.5M$3.3M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $18.9M$15.5M$3.4M−$5.0M 990 PDF
FY2024 $14.9M$15.7M−$838K−$7.8M 990 PDF
FY2023 $13.6M$14.3M−$649K−$7.0M 990 PDF
FY2022 $12.1M$11.5M$506K−$6.1M 990 PDF
FY2021 Viewing $9.3M$8.8M$579K−$10.1M 990 PDF
FY2020 $8.6M$7.9M$705K−$14.1M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $9,349,808 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $8,167,398$8,736,895
I-9 Program service revenuePrior year $400,520$583,520
I-10 Investment incomePrior year $33,361$20,645
I-11 Other revenuePrior year $1,427$8,748
I-12 Total revenuePrior year $8,602,706$9,349,808
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 $5,443,265$6,009,809
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $2,454,322$2,760,741
I-18 Total expensesPrior year $7,897,587$8,770,550
I-19 Revenue less expensesPrior year $705,119$579,258
Part VI · Governance 5 of 5 board members independent, 2 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-13 Written whistleblower 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-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $9,349,808 across 7 lines filed
VIII-1e Government grants$8,729,553
VIII-1f All other contributions, gifts and grants$7,342
VIII-1h Total contributions, gifts and grants$8,736,895
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $583,520$583,520
VIII-3 Investment incomeExcluded from tax $20,645$20,645
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $8,748$8,748
VIII-12 Total revenueRelated to mission $583,520 · Unrelated business $0 · Excluded from tax $29,393$9,349,808
Part IX · Statement of functional expenses $8,770,550 across 16 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $95,909 · Management $169,296$265,205
IX-7 Other salaries and wagesPrograms $3,806,401 · Management $563,622$4,370,023
IX-8 Pension plan contributionsPrograms $780,556 · Management $123,047$903,603
IX-9 Other employee benefitsPrograms $364,097 · Management $42,525$406,622
IX-10 Payroll taxesPrograms $54,618 · Management $9,738$64,356
IX-11b Legal feesManagement $44,584$44,584
IX-11c Accounting feesManagement $12,861$12,861
IX-11g Other fees for servicesPrograms $126,946 · Management $738,126$865,072
IX-12 Advertising and promotionManagement $76,865$76,865
IX-13 Office expensesManagement $89,844$89,844
IX-14 Information technologyManagement $202,466$202,466
IX-16 OccupancyManagement $998,232$998,232
IX-17 TravelManagement $1,352$1,352
IX-22 Depreciation, depletion and amortizationManagement $128,521$128,521
IX-23 InsuranceManagement $102,669$102,669
IX-24 Other expenses (24a–d)Programs $238,275$238,275
IX-25 Total functional expensesPrograms $5,466,802 · Management $3,303,748 · Fundraising $0$8,770,550
Part X · Balance sheet $8,682,012 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $1,317,077$791,966
X-2 Savings and temporary cash investmentsStart of year $2,498,585$2,518,759
X-4 Accounts receivableStart of year $82,174$221,881
X-10c Land, buildings and equipment, netStart of year $323,770$1,129,860
X-15 Other assetsStart of year $1,408,694$4,019,546
X-16 Total assetsStart of year $5,630,300$8,682,012
X-17 Accounts payable and accrued expensesStart of year $713,572$783,165
X-19 Deferred revenueStart of year $340,848$51,380
X-25 Other liabilitiesStart of year $18,663,220$17,932,256
X-26 Total liabilitiesStart of year $19,717,640$18,766,801
X-32 Total net assets or fund balancesStart of year −$14,087,340−$10,084,789
X-33 Total liabilities and net assetsStart of year $5,630,300$8,682,012
Part XI · Reconciliation of net assets −$10,084,789 net assets at year end
XI-1 Total revenue$9,349,808
XI-2 Total expenses$8,770,550
XI-3 Revenue less expenses$579,258
XI-4 Net assets at start of year−$14,087,340
XI-8 Prior period adjustments$81,477
XI-9 Other changes in net assets$3,341,816
XI-10 Net assets at end of year−$10,084,789

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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