Monument Academy FY2024 filing

Tax-deductible

Monument, CO501(c)(3)Since 1995EducationEIN 27-0014128Revenue $14.9M in FY2024

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.
84¢ of each $1 spent went to programs.
$85K 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

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 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
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$85K
to officers and key staff · 0.5% of spending
Looks good: pay to officers and key staff is 0% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Looks good: 3.4 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
$18.2M
175% of total assets
Concern: liabilities are 175% 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
$14.9M
+9% vs prior year
Spent
$15.7M
To programs
84%
Net assets
−$7.8M
By yearFY2020–FY2025
Revenue
$14.9M
FY2024▲ +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
$15.7M
FY2024▲ +10%
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
−$7.8M
FY2024▼ -12%
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 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 Sep 2003.

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

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $13.3M Management & general 16% · $2.5M

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; $85K 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
Principal and Executive Director
$84,639Pt VII · Sec A
Vice-President
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$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 · $13.3M · in their own filed words · FY2023
01

Monument Academy provides educational services for approximately 1,165 preschool through 12th grade students.

$13.3Mprogram 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 FY2024 990, line by line.

1The main four
Money inPt VIII
$14.9M
Ln 12
Fees for servicesLn 2g$12.8M
Gifts and grantsLn 1h$1.2M
Other incomeLn 4–11$729K
Money outPt IX
$15.7M
Ln 25
Programscol B$13.3M
Managementcol C$2.5M
Owns and owesPt X
−$7.8M
net assets · Ln 32
Cash and savingsLn 1–2$4.4M
Total assetsLn 16$10.4M
LiabilitiesLn 26$18.2M
PeoplePt VI, VII
8
listed · VII A
PaidVII A1
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.2M
Government grantsLn 1e$865K
Fundraising eventsLn 1c$186K
Fees for servicesLn 2g$12.8M
Investment incomeLn 3$212K
Other incomeLn 4–11$729K
Total revenueLn 12$14.9M
Assets in detailPt X, end of year
CashLn 1$347K
SavingsLn 2$4.1M
Cash and savings togetherLn 1–2$4.4M
Land, buildings, equipmentLn 10c$1.0M
Other assetsLn 15$4.9M
Total assetsLn 16$10.4M
LiabilitiesLn 26$18.2M
Net assetsLn 32−$7.8M
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 FY24End FY24
Cash and savingsLn 1–2$4.0M$4.4M
Land, buildings, equipmentLn 10c$1.1M$1.0M
Total assetsLn 16$8.5M$10.4M
LiabilitiesLn 26$15.5M$18.2M
Net assetsLn 32−$7.0M−$7.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$240K$180K$60K
Other salaries and wagesLn 7$5.9M$5.0M$887K
Pension plan contributionsLn 8$2.4M$2.0M$365K
Other employee benefitsLn 9$689K$583K$106K
Payroll taxesLn 10$131K$111K$20K
Legal feesLn 11b$89K$89K
Accounting feesLn 11c$16K$16K
Other fees for servicesLn 11g$3K$3K$450
Advertising and promotionLn 12$958$814$144
OccupancyLn 16$3.5M$3.0M$522K
TravelLn 17$3K$3K$483
InterestLn 20$2K$2K$316
Depreciation, depletion and amortizationLn 22$182K$155K$27K
InsuranceLn 23$92K$78K$14K
Other expenses (24a–d)Ln 24$2.1M$1.8M$286K
All other expensesLn 24e$416K$353K$62K
Total functional expensesLn 25$15.7M$13.3M$2.5M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $18.9M$15.5M$3.4M−$5.0M 990 PDF
FY2024 Viewing $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 $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 FY2024 990 (6 parts)
Part I · Summary $14,898,954 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,437,141$1,183,349
I-9 Program service revenuePrior year $11,698,353$12,774,396
I-10 Investment incomePrior year $63,223$212,086
I-11 Other revenuePrior year $442,240$729,123
I-12 Total revenuePrior year $13,640,957$14,898,954
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 $8,628,157$9,346,616
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $5,661,782$6,390,284
I-18 Total expensesPrior year $14,289,939$15,736,900
I-19 Revenue less expensesPrior year −$648,982−$837,946
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-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 $14,898,954 across 9 lines filed
VIII-1c Fundraising events$186,403
VIII-1e Government grants$865,282
VIII-1f All other contributions, gifts and grants$131,664
VIII-1h Total contributions, gifts and grants$1,183,349
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $12,774,396$12,774,396
VIII-3 Investment incomeExcluded from tax $212,086$212,086
VIII-8 Net income from fundraising eventsExcluded from tax −$49,302−$49,302
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $778,425$778,425
VIII-12 Total revenueRelated to mission $13,552,821 · Unrelated business $0 · Excluded from tax $162,784$14,898,954
Part IX · Statement of functional expenses $15,736,900 across 16 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $179,839 · Management $59,946$239,785
IX-7 Other salaries and wagesPrograms $5,028,826 · Management $887,440$5,916,266
IX-8 Pension plan contributionsPrograms $2,006,173 · Management $364,896$2,371,069
IX-9 Other employee benefitsPrograms $582,716 · Management $105,989$688,705
IX-10 Payroll taxesPrograms $110,663 · Management $20,128$130,791
IX-11b Legal feesManagement $89,346$89,346
IX-11c Accounting feesManagement $15,600$15,600
IX-11g Other fees for servicesPrograms $2,550 · Management $450$3,000
IX-12 Advertising and promotionPrograms $814 · Management $144$958
IX-16 OccupancyPrograms $2,959,488 · Management $522,262$3,481,750
IX-17 TravelPrograms $2,739 · Management $483$3,222
IX-20 InterestPrograms $1,793 · Management $316$2,109
IX-22 Depreciation, depletion and amortizationPrograms $154,878 · Management $27,331$182,209
IX-23 InsurancePrograms $77,796 · Management $13,729$91,525
IX-24 Other expenses (24a–d)Programs $1,818,907 · Management $285,847$2,104,754
IX-24e All other expensesPrograms $353,440 · Management $62,371$415,811
IX-25 Total functional expensesPrograms $13,280,622 · Management $2,456,278 · Fundraising $0$15,736,900
Part X · Balance sheet $10,397,518 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $597,010$347,203
X-2 Savings and temporary cash investmentsStart of year $3,378,935$4,077,356
X-3 Pledges and grants receivableStart of year $398,050$36,046
X-4 Accounts receivableStart of year $9,909$11,256
X-10c Land, buildings and equipment, netStart of year $1,135,538$1,040,122
X-15 Other assetsStart of year $2,976,920$4,885,535
X-16 Total assetsStart of year $8,496,362$10,397,518
X-17 Accounts payable and accrued expensesStart of year $1,282,142$1,197,245
X-19 Deferred revenueStart of year $97,379$39,706
X-24 Unsecured notes and loans payableStart of year $101,964$27,678
X-25 Other liabilitiesStart of year $13,981,477$16,937,435
X-26 Total liabilitiesStart of year $15,462,962$18,202,064
X-27 Net assets without donor restrictionsStart of year −$7,578,128−$8,426,594
X-28 Net assets with donor restrictionsStart of year $611,528$622,048
X-32 Total net assets or fund balancesStart of year −$6,966,600−$7,804,546
X-33 Total liabilities and net assetsStart of year $8,496,362$10,397,518
Part XI · Reconciliation of net assets −$7,804,546 net assets at year end
XI-1 Total revenue$14,898,954
XI-2 Total expenses$15,736,900
XI-3 Revenue less expenses−$837,946
XI-4 Net assets at start of year−$6,966,600
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$7,804,546

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

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