Mounds Park Academy: Nonprofit Profile, Financials & Form 990 (EIN 41-1420915)

Revenue by fiscal year
FY2020	$14.9M
FY2021	$18.4M
FY2022	$19.3M
FY2023	$24.1M
FY2024	$21.4M
FY2025	$22.9M

Expenses by fiscal year
FY2020	$16.2M
FY2021	$17.7M
FY2022	$20.3M
FY2023	$21.2M
FY2024	$22.0M
FY2025	$23.3M

Net assets by fiscal year
FY2020	$18.0M
FY2021	$19.9M
FY2022	$17.6M
FY2023	$20.8M
FY2024	$21.2M
FY2025	$21.8M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1989.

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

Where the money goes

80 cents of each dollar spent went to programs.

80%

18%

Program services 80% · $18.7M Management & general 18% · $4.2M Fundraising 2% · $361K

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

28 people listed on the 990; $1.2M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII

Dr William Hudson

Head of School

$354,557Pt VII · Sec A

Natalie Waters Seum

Director of Admission

$151,316Pt VII · Sec A

Jay Dean

Assistant School Director

$146,458Pt VII · Sec A

Gina Wallraff

CFO & COO

$146,037Pt VII · Sec A

Jennifer Le Varge

Lower School Director

$145,761Pt VII · Sec A

Mark Segal

Upper School Director

$145,144Pt VII · Sec A

Lamar Shingles

Director of Equity and Bel

$140,536Pt VII · Sec A

Tom Simonson

Trustee

$0Pt VII · Sec A

Dr William Hudson’s $355K as Head of School is at the 74th 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 · 8 named individuals · Part VII

Name	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Dr William Hudson	$354,557	$324,850	$284,897	$331,884	$289,044	$266,048
Gina Wallraff	$146,037	$172,104	$151,587	—	$157,260	$149,437
Regina Wallraff	—	—	—	$159,467	—	—
Natalie Waters Seum	$151,316	$145,666	$135,934	$148,880	$146,994	$101,569
Jay Dean	$146,458	$143,385	—	—	—	—
Jennifer Le Varge	$145,761	—	—	—	—	—
Mark Segal	$145,144	$124,920	$111,969	$109,616	$107,883	$105,605
Jennifer Rogers-Petitt	—	—	—	$142,008	—	—

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 15aYes

Programs and updates

Empowers students to think, communicate, and act with respect and integrity.

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Provided by the organization

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1 program · $18.7M · in their own filed words · FY2024

01

Operate a co-educational, non-denominational college preparatory school in ST. Paul, minnesota, teaching students in grades pre-k through 12. Mounds park academy served approximately 500 students. One-hundred percent of the academy's students are admitted to four-year colleges and universities.

$18.7Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid

Grants received · FY2024

Vanguard Charitable Endowment ProgramFY2024$102K

Donor Advised Charitable Giving INCFY2024$88K

Fidelity Investments Charitable Gift FundFY2024$80K

Saint Paul & Minnesota FoundationFY2024$20K

Nicholson Family FoundationFY2024$16K

American Endowment FoundationFY2024$14K

Charities Aid Foundation AmericaFY2024$13K

National Philanthropic TrustFY2024$11K

Total grants receivedfrom 14 funders$382K

See all 14 funders →

Grants paid · 17 grants · $29.4M · 2019–2024

Unitemized GrantFY2024$5,402,406

Unitemized GrantFY2024$22,675

Unitemized GrantFY2023$4,284,689

Unitemized GrantFY2023$810,653

Unitemized GrantFY2023$29,800

Unitemized GrantFY2022$4,070,549

Unitemized GrantFY2022$738,100

Unitemized GrantFY2022$19,475

Unitemized GrantFY2021$4,512,390

Unitemized GrantFY2021$712,350

Unitemized GrantFY2021$17,200

Unitemized GrantFY2020$4,270,431

Unitemized GrantFY2020$429,945

Unitemized GrantFY2020$17,800

Unitemized GrantFY2019$3,351,039

Unitemized GrantFY2019$654,850

Unitemized GrantFY2019$51,538

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$22.9M

Ln 12

Fees for servicesLn 2g$20.6M

Gifts and grantsLn 1h$1.6M

Investment incomeLn 3$456K

Money outPt IX

$23.3M

Ln 25

Programscol B$18.7M

Managementcol C$4.2M

Fundraisingcol D$361K

Owns and owesPt X

$21.8M

net assets · Ln 32

Cash and savingsLn 1–2$2.3M

Total assetsLn 16$31.2M

LiabilitiesLn 26$9.4M

PeoplePt VI, VII

28

listed · VII A

PaidVII A7

Voting boardVI 1a21

IndependentVI 1b20

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$1.6M

Government grantsLn 1e$70K

Noncash giftsLn 1g$42K

Fundraising eventsLn 1c$863K

Fees for servicesLn 2g$20.6M

Investment incomeLn 3$456K

Other incomeLn 4–11$204K

Gains on assetsLn 7−$4K

Total revenueLn 12$22.9M

Assets in detailPt X, end of year

CashLn 1$1.9M

SavingsLn 2$385K

Cash and savings togetherLn 1–2$2.3M

InvestmentsLn 11–13$10.7M

Land, buildings, equipmentLn 10c$17.6M

Total assetsLn 16$31.2M

LiabilitiesLn 26$9.4M

Net assetsLn 32$21.8M

OperationsPt I, VI

EmployeesI 5202

VolunteersI 6325

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

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$1.9M	$2.3M
InvestmentsLn 11–13	$10.1M	$10.7M
Land, buildings, equipmentLn 10c	$18.6M	$17.6M
Total assetsLn 16	$30.9M	$31.2M
LiabilitiesLn 26	$9.6M	$9.4M
Net assetsLn 32	$21.2M	$21.8M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$5.4M	$5.4M
Pay of current officers, directors and key staffLn 5	$558K		$518K	$40K
Other salaries and wagesLn 7	$9.4M	$7.4M	$1.8M	$196K
Pension plan contributionsLn 8	$195K	$165K	$27K	$3K
Other employee benefitsLn 9	$1.1M	$841K	$227K	$24K
Payroll taxesLn 10	$711K	$533K	$161K	$17K
Legal feesLn 11b	$190K	$190K
Accounting feesLn 11c	$77K	$77K
Investment management feesLn 11f	$30K		$30K
Advertising and promotionLn 12	$259K	$200K	$59K
Office expensesLn 13	$1.4M	$493K	$804K	$72K
Information technologyLn 14	$108K	$27K	$81K
OccupancyLn 16	$2.1M	$2.0M	$43K	$6K
InterestLn 20	$219K		$216K	$3K
Depreciation, depletion and amortizationLn 22	$10K		$10K
InsuranceLn 23	$226K		$226K
Other expenses (24a–d)Ln 24	$1.1M	$1.1M
All other expensesLn 24e	$285K	$246K	$40K
Total functional expensesLn 25	$23.3M	$18.7M	$4.2M	$361K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$22.9M	$23.3M	−$404K	$21.8M	990 PDF
FY2024	$21.4M	$22.0M	−$547K	$21.2M	990 PDF
FY2023	$24.1M	$21.2M	$2.8M	$20.8M	990 PDF
FY2022	$19.3M	$20.3M	−$1.0M	$17.6M	990 PDF
FY2021	$18.4M	$17.7M	$744K	$19.9M	990 PDF
FY2020	$14.9M	$16.2M	−$1.3M	$18.0M	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 FY2025 990 (6 parts)

Part I · Summary $22,925,021 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $961,848$1,645,911

I-9 Program service revenuePrior year $19,873,389$20,619,091

I-10 Investment incomePrior year $432,504$456,038

I-11 Other revenuePrior year $168,576$203,981

I-12 Total revenuePrior year $21,436,317$22,925,021

I-13 Grants and similar amounts paidPrior year $5,125,142$5,425,081

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $11,468,711$11,955,879

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $5,389,867$5,947,833

I-18 Total expensesPrior year $21,983,720$23,328,793

I-19 Revenue less expensesPrior year −$547,403−$403,772

Part VI · Governance 20 of 21 board members independent, no flags

VI-1a Voting members of the governing body21

VI-1b Independent voting members20

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $22,925,021 across 12 lines filed

VIII-1c Fundraising events$863,405

VIII-1e Government grants$69,515

VIII-1f All other contributions, gifts and grants$712,991

VIII-1g Noncash contributions (included above)$42,169

VIII-1h Total contributions, gifts and grants$1,645,911

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $20,619,091$20,619,091

VIII-3 Investment incomeExcluded from tax $459,764$459,764

VIII-6 Net rental income or lossExcluded from tax $32,440$32,440

VIII-7 Net gain or loss on sales of assetsExcluded from tax −$3,726−$3,726

VIII-8 Net income from fundraising eventsExcluded from tax −$49,481−$49,481

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $221,022$221,022

VIII-12 Total revenueRelated to mission $20,619,091 · Unrelated business $0 · Excluded from tax $660,019$22,925,021

Part IX · Statement of functional expenses $23,328,793 across 18 lines filed

IX-2 Grants to domestic individualsPrograms $5,425,081$5,425,081

IX-5 Pay of current officers, directors and key staffManagement $517,973 · Fundraising $40,355$558,328

IX-7 Other salaries and wagesPrograms $7,427,934 · Management $1,776,890 · Fundraising $195,849$9,400,673

IX-8 Pension plan contributionsPrograms $164,705 · Management $26,512 · Fundraising $3,301$194,518

IX-9 Other employee benefitsPrograms $840,893 · Management $226,877 · Fundraising $23,704$1,091,474

IX-10 Payroll taxesPrograms $533,150 · Management $161,096 · Fundraising $16,640$710,886

IX-11b Legal feesPrograms $189,994$189,994

IX-11c Accounting feesPrograms $76,649$76,649

IX-11f Investment management feesManagement $30,041$30,041

IX-12 Advertising and promotionPrograms $199,747 · Management $59,060$258,807

IX-13 Office expensesPrograms $493,125 · Management $803,982 · Fundraising $72,232$1,369,339

IX-14 Information technologyPrograms $27,336 · Management $80,921$108,257

IX-16 OccupancyPrograms $2,010,345 · Management $43,156 · Fundraising $5,768$2,059,269

IX-20 InterestManagement $215,522 · Fundraising $3,301$218,823

IX-22 Depreciation, depletion and amortizationManagement $10,053$10,053

IX-23 InsuranceManagement $226,058$226,058

IX-24 Other expenses (24a–d)Programs $1,115,064$1,115,064

IX-24e All other expensesPrograms $245,852 · Management $39,627$285,479

IX-25 Total functional expensesPrograms $18,749,875 · Management $4,217,768 · Fundraising $361,150$23,328,793

Part X · Balance sheet $31,207,377 assets, 19 lines filed

X-1 Cash, non-interest-bearingStart of year $1,563,332$1,925,967

X-2 Savings and temporary cash investmentsStart of year $377,956$385,023

X-3 Pledges and grants receivableStart of year $88,193$292,363

X-4 Accounts receivableStart of year $4,027$22,404

X-8 Inventories for sale or useStart of year $39,593$39,887

X-9 Prepaid expenses and deferred chargesStart of year $81,986$156,003

X-10c Land, buildings and equipment, netStart of year $18,595,823$17,639,870

X-11 Publicly traded securitiesStart of year $10,071,316$10,698,537

X-12 Other securitiesStart of year $47,323$47,323

X-16 Total assetsStart of year $30,869,549$31,207,377

X-17 Accounts payable and accrued expensesStart of year $1,692,957$1,713,937

X-19 Deferred revenueStart of year $2,675,312$2,958,073

X-20 Tax-exempt bond liabilitiesStart of year $4,888,314$4,493,708

X-25 Other liabilitiesStart of year $201,735$201,735

X-26 Total liabilitiesStart of year $9,621,734$9,367,453

X-27 Net assets without donor restrictionsStart of year $14,214,981$13,662,891

X-28 Net assets with donor restrictionsStart of year $7,032,834$8,177,033

X-32 Total net assets or fund balancesStart of year $21,247,815$21,839,924

X-33 Total liabilities and net assetsStart of year $30,869,549$31,207,377

Part XI · Reconciliation of net assets $21,839,924 net assets at year end

XI-1 Total revenue$22,925,021

XI-2 Total expenses$23,328,793

XI-3 Revenue less expenses−$403,772

XI-4 Net assets at start of year$21,247,815

XI-5 Net unrealized gains (losses) on investments$995,881

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$21,839,924

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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