Altus Academy FY2024 filing

Tax-deductible

Chicago, IL501(c)(3)Since 2010EIN 27-4259966

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A high-quality college preparatory education for its students in grades one through eight.

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
$104K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $63K a year · 9% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 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
$104K
to officers and key staff · 12% of spending
Looks good: pay to officers and key staff is 12% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 2.2 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
10
named funders · $551K
Looks good: 10 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$80K
10% of total assets
Looks good: liabilities are 10% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 9 voting members
Looks good: 7 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$528K
-48% vs prior year
Spent
$832K
To programs
84%
Net assets
$717K
By yearFY2020–FY2024
Revenue
$528K
FY2024▼ -48%
Revenue by fiscal year
FY2020$255K
FY2021$646K
FY2022$1.2M
FY2023$1.0M
FY2024$528K
FY2024$1.8M
Expenses
$832K
FY2024▲ +15%
Expenses by fiscal year
FY2020$553K
FY2021$602K
FY2022$618K
FY2023$722K
FY2024$832K
FY2024$906K
Net assets
$717K
FY2024▼ -30%
Net assets by fiscal year
FY2020$104K
FY2021$148K
FY2022$722K
FY2023$1.0M
FY2024$717K
FY2024$1.6M

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

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2012.

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% · $698K Management & general 7% · $56K Fundraising 9% · $77K

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

9 people listed on the 990; $104K 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
$72,426Pt VII · Sec A
President & Founder, Secre
$31,171Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Chair of the Board
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Alfredo Villegas$76,867$72,426$62,878$60,000$49,583$42,113
John P Heybach$19,501$31,171$59,930$75,000$72,266$71,083

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.

See Altus Academy executive salaries →

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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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Develops students with character and academics for success in college preparatory schools and beyond.

Provided by the organization

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1 program service account for $698K of program spending, described in the organization's own filed words · FY2023.
01

Altus academy inaugurated its first class of sixteen, 4TH, 5TH and 6TH graders on august 17, 2013. The academy has expanded to 72 students in grades 1 through 8 in this the academy's tenth year (fiscal year ended june 30, 2024).

$698Kprogram expense

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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
See all 10 funders →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$528K
Ln 12
Gifts and grantsLn 1h$540K
Fees for servicesLn 2g$3K
Investment incomeLn 3$190
Money outPt IX
$832K
Ln 25
Programscol B$698K
Managementcol C$56K
Fundraisingcol D$77K
Owns and owesPt X
$717K
net assets · Ln 32
Cash and savingsLn 1–2$150K
Total assetsLn 16$798K
LiabilitiesLn 26$80K
PeoplePt VI, VII
9
listed · VII A
PaidVII A2
Voting boardVI 1a9
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$540K
Noncash giftsLn 1g$25K
Fundraising eventsLn 1c$115K
Fees for servicesLn 2g$3K
Investment incomeLn 3$190
Total revenueLn 12$528K
Assets in detailPt X, end of year
CashLn 1$150K
Cash and savings togetherLn 1–2$150K
Land, buildings, equipmentLn 10c$484K
Total assetsLn 16$798K
LiabilitiesLn 26$80K
Net assetsLn 32$717K
OperationsPt I, VI
EmployeesI 517
VolunteersI 625
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
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$347K$150K
Land, buildings, equipmentLn 10c$440K$484K
Total assetsLn 16$1.1M$798K
LiabilitiesLn 26$74K$80K
Net assetsLn 32$1.0M$717K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$121K$84K$16K$21K
Other salaries and wagesLn 7$389K$363K$27K
Pension plan contributionsLn 8$4K$4K
Other employee benefitsLn 9$37K$37K
Payroll taxesLn 10$38K$32K$2K$4K
Legal feesLn 11b$17$17
Accounting feesLn 11c$24K$24K
Other fees for servicesLn 11g$26K$26K
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$14K$9K$833$5K
Information technologyLn 14$18K$15K$2K$2K
OccupancyLn 16$86K$69K$9K$9K
Conferences, conventions and meetingsLn 19$2K$2K$58
InterestLn 20$90$90
Depreciation, depletion and amortizationLn 22$23K$18K$2K$2K
InsuranceLn 23$4K$4K$108$359
Other expenses (24a–d)Ln 24$43K$34K$850$8K
Total functional expensesLn 25$832K$698K$56K$77K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Viewing $528K$832K−$304K$717K 990 PDF
FY2023 $1.0M$722K$299K$1.0M 990 PDF
FY2022 $1.2M$618K$574K$722K 990 PDF
FY2021 $646K$602K$44K$148K 990 PDF
FY2020 $255K$553K−$299K$104K 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 (4 parts)
Part VIII · Statement of revenue $527,716 across 8 lines filed
VIII-1c Fundraising events$114,760
VIII-1f All other contributions, gifts and grants$424,799
VIII-1g Noncash contributions (included above)$25,410
VIII-1h Total contributions, gifts and grants$539,559
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,703$2,703
VIII-3 Investment incomeExcluded from tax $190$190
VIII-8 Net income from fundraising eventsExcluded from tax −$14,736−$14,736
VIII-12 Total revenueRelated to mission $2,703 · Unrelated business $0 · Excluded from tax −$14,546$527,716
Part IX · Statement of functional expenses $831,635 across 17 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $84,455 · Management $15,714 · Fundraising $20,535$120,704
IX-7 Other salaries and wagesPrograms $362,528 · Fundraising $26,690$389,218
IX-8 Pension plan contributionsPrograms $3,560$3,560
IX-9 Other employee benefitsPrograms $37,009$37,009
IX-10 Payroll taxesPrograms $32,178 · Management $1,829 · Fundraising $4,030$38,037
IX-11b Legal feesManagement $17$17
IX-11c Accounting feesManagement $24,023$24,023
IX-11g Other fees for servicesPrograms $26,395$26,395
IX-12 Advertising and promotionPrograms $1,930$1,930
IX-13 Office expensesPrograms $9,100 · Management $833 · Fundraising $4,565$14,498
IX-14 Information technologyPrograms $14,693 · Management $1,836 · Fundraising $1,836$18,365
IX-16 OccupancyPrograms $68,685 · Management $8,585 · Fundraising $8,585$85,855
IX-19 Conferences, conventions and meetingsPrograms $2,413 · Fundraising $58$2,471
IX-20 InterestManagement $90$90
IX-22 Depreciation, depletion and amortizationPrograms $18,242 · Management $2,280 · Fundraising $2,280$22,802
IX-23 InsurancePrograms $3,542 · Management $108 · Fundraising $359$4,009
IX-24 Other expenses (24a–d)Programs $33,527 · Management $850 · Fundraising $8,275$42,652
IX-25 Total functional expensesPrograms $698,257 · Management $56,165 · Fundraising $77,213$831,635
Part X · Balance sheet $797,638 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $347,289$149,926
X-3 Pledges and grants receivableStart of year $300,000$150,000
X-9 Prepaid expenses and deferred chargesStart of year $8,147$13,360
X-10c Land, buildings and equipment, netStart of year $439,923$484,352
X-16 Total assetsStart of year $1,095,359$797,638
X-17 Accounts payable and accrued expensesStart of year $74,288$80,486
X-26 Total liabilitiesStart of year $74,288$80,486
X-27 Net assets without donor restrictionsStart of year $516,537$419,483
X-28 Net assets with donor restrictionsStart of year $504,534$297,669
X-32 Total net assets or fund balancesStart of year $1,021,071$717,152
X-33 Total liabilities and net assetsStart of year $1,095,359$797,638
Part XI · Reconciliation of net assets $717,152 net assets at year end
XI-1 Total revenue$527,716
XI-2 Total expenses$831,635
XI-3 Revenue less expenses−$303,919
XI-4 Net assets at start of year$1,021,071
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$717,152

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

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