Monument Academy INC FY2021 filing

Tax-deductible

Washington, DC501(c)(3)Since 2015EducationEIN 46-3662061

To provide students, particularly those who have had or might have contact with the foster care system, with the requisite academic, social, emotional, and life skills to be successful in college, career, and community, and to create an outstanding school that attracts, supports, and retains exceptional and caring staff.

501(c)(3) charity; gifts are tax-deductible.
85¢ of each $1 spent went to programs.
$648K 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
5 of 6
filings with a surplus
Average surplus $725K a year · 6% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
85%
of spending
Looks good: 85% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$648K
to officers and key staff · 7% of spending
Looks good: pay to officers and key staff is 7% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 4.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $20K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$185K
3% of total assets
Looks good: liabilities are 3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$11.1M
+10% vs prior year
Spent
$9.3M
To programs
85%
Net assets
$5.7M
By yearFY2020–FY2025
Revenue
$11.1M
FY2021▲ +10%
Revenue by fiscal year
FY2020$10.1M
FY2021$11.1M
FY2022$10.4M
FY2023$11.2M
FY2024$13.5M
FY2025$13.9M
Expenses
$9.3M
FY2021▲ +11%
Expenses by fiscal year
FY2020$8.4M
FY2021$9.3M
FY2022$9.9M
FY2023$11.2M
FY2024$13.0M
FY2025$14.1M
Net assets
$5.7M
FY2021▲ +44%
Net assets by fiscal year
FY2020$4.0M
FY2021$5.7M
FY2022$6.2M
FY2023$6.3M
FY2024$6.8M
FY2025$6.6M

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 Jul 2014.

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

Where the money goes

85 cents of each dollar spent went to programs.

Program services 85% · $8.0M Management & general 13% · $1.2M Fundraising 1% · $120K

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

Who runs it and what they're paid

17 people listed on the 990; $648K 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
Head of School and CEO
$200,692Pt VII · Sec A
Operating Officer Until Sept. 2020
$138,838Pt VII · Sec A
Chief of Well Being Until April 2021
$129,592Pt VII · Sec A
$102,924Pt VII · Sec A
Operations as of Sept. 2020
$75,611Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member Until Feb. 2021
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Jeffrey Grant’s $260K as Head of School and CEO is at the 55th 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

NameFY2025FY2024FY2023FY2022FY2021FY2020
Jeffrey Grant$259,604$251,162$224,355$206,531$200,692$97,769
Ashley Decruise$172,583$161,041$137,007$119,455$102,924—
Katrice Fuller-Whitaker Chief$146,716$125,595$113,847———
Keisha Morris—————$143,275
Greg Gaskins$142,842$127,724$115,407$98,492——
Keisha Morris Chief————$138,838—
Danielle Nelson$135,691$126,190$114,855$107,847——
Paris Gasque————$129,592—

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

Empowers students, especially those in foster care, with skills for college, career, and community success.

Provided by the organization

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1 program service account for $8.0M of program spending, described in the organization's own filed words · FY2020.
01

Monument academy's programs include a daytime school program, which involves educating students and enrichment activities, and an evening residential program, which involves housing students from sunday evening through friday.

$8.0Mprogram 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
Total grants receivedfrom 1 funder$20K

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$11.1M
Ln 12
Fees for servicesLn 2g$8.0M
Gifts and grantsLn 1h$3.1M
Money outPt IX
$9.3M
Ln 25
Programscol B$8.0M
Managementcol C$1.2M
Fundraisingcol D$120K
Owns and owesPt X
$5.7M
net assets · Ln 32
Cash and savingsLn 1–2$3.4M
Total assetsLn 16$5.9M
LiabilitiesLn 26$185K
PeoplePt VI, VII
17
listed · VII A
PaidVII A5
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3.1M
Government grantsLn 1e$2.1M
Fees for servicesLn 2g$8.0M
Gains on assetsLn 7−$1K
Total revenueLn 12$11.1M
Assets in detailPt X, end of year
CashLn 1$3.4M
Cash and savings togetherLn 1–2$3.4M
Land, buildings, equipmentLn 10c$2.1M
Other assetsLn 15$5K
Total assetsLn 16$5.9M
LiabilitiesLn 26$185K
Net assetsLn 32$5.7M
OperationsPt I, VI
EmployeesI 5148
VolunteersI 611
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 FY21End FY21
Cash and savingsLn 1–2$2.8M$3.4M
Land, buildings, equipmentLn 10c$2.0M$2.1M
Total assetsLn 16$5.2M$5.9M
LiabilitiesLn 26$1.2M$185K
Net assetsLn 32$4.0M$5.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$416K$372K$38K$6K
Other salaries and wagesLn 7$4.5M$4.0M$423K$65K
Pension plan contributionsLn 8$137K$126K$9K$2K
Other employee benefitsLn 9$446K$411K$29K$6K
Payroll taxesLn 10$435K$390K$39K$6K
Legal feesLn 11b$24K$24K
Accounting feesLn 11c$140K$140K
Other fees for servicesLn 11g$136K$67K$67K$1K
Office expensesLn 13$105K$97K$6K$2K
Information technologyLn 14$30K$30K
OccupancyLn 16$2.2M$1.9M$203K$31K
InterestLn 20$2K$2K
Depreciation, depletion and amortizationLn 22$211K$211K
InsuranceLn 23$157K$157K
Other expenses (24a–d)Ln 24$400K$309K$91K
Total functional expensesLn 25$9.3M$8.0M$1.2M$120K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $13.9M$14.1M−$211K$6.6M 990 PDF
FY2024 $13.5M$13.0M$546K$6.8M 990 PDF
FY2023 $11.2M$11.2M$20K$6.3M 990 PDF
FY2022 $10.4M$9.9M$487K$6.2M 990 PDF
FY2021 Viewing $11.1M$9.3M$1.8M$5.7M 990 PDF
FY2020 $10.1M$8.4M$1.7M$4.0M 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 FY2021 990 (4 parts)
Part VIII · Statement of revenue $11,096,350 across 6 lines filed
VIII-1e Government grants$2,080,615
VIII-1f All other contributions, gifts and grants$1,059,528
VIII-1h Total contributions, gifts and grants$3,140,143
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $7,957,303$7,957,303
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$1,096−$1,096
VIII-12 Total revenueRelated to mission $7,957,303 · Unrelated business $0 · Excluded from tax −$1,096$11,096,350
Part IX · Statement of functional expenses $9,327,657 across 15 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $372,096 · Management $38,035 · Fundraising $6,007$416,138
IX-7 Other salaries and wagesPrograms $4,033,287 · Management $422,878 · Fundraising $65,353$4,521,518
IX-8 Pension plan contributionsPrograms $125,709 · Management $9,045 · Fundraising $1,942$136,696
IX-9 Other employee benefitsPrograms $410,931 · Management $29,160 · Fundraising $6,338$446,429
IX-10 Payroll taxesPrograms $390,049 · Management $39,090 · Fundraising $6,321$435,460
IX-11b Legal feesPrograms $24,000$24,000
IX-11c Accounting feesManagement $139,936$139,936
IX-11g Other fees for servicesPrograms $67,306 · Management $67,170 · Fundraising $1,308$135,784
IX-13 Office expensesPrograms $97,365 · Management $5,981 · Fundraising $1,581$104,927
IX-14 Information technologyManagement $30,361$30,361
IX-16 OccupancyPrograms $1,932,761 · Management $202,645 · Fundraising $31,316$2,166,722
IX-20 InterestManagement $1,675$1,675
IX-22 Depreciation, depletion and amortizationPrograms $210,800$210,800
IX-23 InsuranceManagement $157,125$157,125
IX-24 Other expenses (24a–d)Programs $309,498 · Management $90,588$400,086
IX-25 Total functional expensesPrograms $7,973,802 · Management $1,233,689 · Fundraising $120,166$9,327,657
Part X · Balance sheet $5,933,200 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $2,771,448$3,384,629
X-3 Pledges and grants receivableStart of year $293,391$357,423
X-4 Accounts receivableStart of year $43,195$39,124
X-9 Prepaid expenses and deferred chargesStart of year $105,467$40,237
X-10c Land, buildings and equipment, netStart of year $1,967,978$2,106,787
X-15 Other assetsStart of year $5,000$5,000
X-16 Total assetsStart of year $5,186,479$5,933,200
X-17 Accounts payable and accrued expensesStart of year $257,661$157,680
X-25 Other liabilitiesStart of year $936,859$27,682
X-26 Total liabilitiesStart of year $1,207,334$185,362
X-27 Net assets without donor restrictionsStart of year $3,785,442$4,980,996
X-28 Net assets with donor restrictionsStart of year $193,703$766,842
X-32 Total net assets or fund balancesStart of year $3,979,145$5,747,838
X-33 Total liabilities and net assetsStart of year $5,186,479$5,933,200
Part XI · Reconciliation of net assets $5,747,838 net assets at year end
XI-1 Total revenue$11,096,350
XI-2 Total expenses$9,327,657
XI-3 Revenue less expenses$1,768,693
XI-4 Net assets at start of year$3,979,145
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$5,747,838

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

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