World Compass Academy FY2022 filing

Tax-deductible

Castle Rock, CO501(c)(3)Since 2013EducationEIN 46-4749764

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World Compass Academy is a tuition-free, PK-8 charter school that equips students with the foundational skills needed for success. Enrollment is approximately 710 students.

501(c)(3) charity; gifts are tax-deductible.
46¢ of each $1 spent went to programs.
$98K 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

FY2022 · 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
6 of 6
filings with a surplus
Average surplus $292K a year · 3% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
46%
of spending
Concern: 46% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$98K
to officers and key staff · 1% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
6 mo
of spending, in cash
Looks good: 6.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $592
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$32.8M
133% of total assets
Concern: liabilities are 133% 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
$9.4M
+9% vs prior year
Spent
$9.3M
To programs
46%
Net assets
−$8.2M
By yearFY2020–FY2025
Revenue
$9.4M
FY2022▲ +9%
Revenue by fiscal year
FY2020$7.7M
FY2021$8.6M
FY2022$9.4M
FY2023$10.5M
FY2024$12.3M
FY2025$12.8M
Expenses
$9.3M
FY2022▲ +12%
Expenses by fiscal year
FY2020$7.2M
FY2021$8.3M
FY2022$9.3M
FY2023$10.4M
FY2024$11.7M
FY2025$12.6M
Net assets
−$8.2M
FY2022▲ +19%
Net assets by fiscal year
FY2020−$11.6M
FY2021−$10.0M
FY2022−$8.2M
FY2023−$12.1M
FY2024−$9.4M
FY2025−$9.1M

From the FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Exemption reinstated (2016-05-15). Per the IRS revocation list. Latest filing on record: FY2025. IRS ruling in Jun 2020.

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

Where the money goes

46 cents of each dollar spent went to programs.

Program services 46% · $4.2M Management & general 54% · $5.1M

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; $98K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
$97,850Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Compliance Committee
$0Pt VII · Sec A

Bethany Merkling’s $149K as Principal is at the 15th 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 · 3 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Bethany Merkling$148,740$155,447$98,588$97,850$95,000$74,873
Charity Bray—$110,643————
Heather Fortelka—$102,576————

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

Educates PK-8 students with foundational skills for success, tuition-free.

Provided by the organization

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1 program service account for $4.2M of program spending, described in the organization's own filed words · FY2021.
01

Program Service expenses are all costs necessary to operate a PK-8 charter school, acquire school facilities, and service the debt associated with facilities acquisition.

$4.2Mprogram 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 · FY2023
Total grants receivedfrom 1 funder$592

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$9.4M
Ln 12
Fees for servicesLn 2g$7.2M
Other incomeLn 4–11$1.6M
Gifts and grantsLn 1h$572K
Money outPt IX
$9.3M
Ln 25
Programscol B$4.2M
Managementcol C$5.1M
Owns and owesPt X
−$8.2M
net assets · Ln 32
Cash and savingsLn 1–2$4.8M
Total assetsLn 16$24.7M
LiabilitiesLn 26$32.8M
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$572K
Government grantsLn 1e$561K
Fees for servicesLn 2g$7.2M
Investment incomeLn 3$5K
Other incomeLn 4–11$1.6M
Total revenueLn 12$9.4M
Assets in detailPt X, end of year
CashLn 1$2.6M
SavingsLn 2$2.2M
Cash and savings togetherLn 1–2$4.8M
Land, buildings, equipmentLn 10c$17.6M
Other assetsLn 15$2.0M
Total assetsLn 16$24.7M
LiabilitiesLn 26$32.8M
Net assetsLn 32−$8.2M
OperationsPt I, VI
EmployeesI 5151
VolunteersI 61,289
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$4.8M$4.8M
Land, buildings, equipmentLn 10c$17.9M$17.6M
Total assetsLn 16$25.9M$24.7M
LiabilitiesLn 26$35.9M$32.8M
Net assetsLn 32−$10.0M−$8.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$98K$0$98K$0
Other salaries and wagesLn 7$3.5M$2.7M$810K$0
Pension plan contributionsLn 8$790K$606K$183K$0
Other employee benefitsLn 9$272K$212K$60K$0
Payroll taxesLn 10$48K$36K$12K$0
Legal feesLn 11b$20K$0$20K$0
Accounting feesLn 11c$55K$0$55K$0
Other fees for servicesLn 11g$223K$169K$55K$0
Advertising and promotionLn 12$16K$0$16K$0
Office expensesLn 13$357$0$357$0
Information technologyLn 14$33K$0$33K$0
OccupancyLn 16$1.8M$0$1.8M$0
TravelLn 17$6K$0$6K$0
Conferences, conventions and meetingsLn 19$35K$26K$9K$0
InterestLn 20$1.2M$0$1.2M$0
Depreciation, depletion and amortizationLn 22$355K$0$355K$0
InsuranceLn 23$81K$0$81K$0
Other expenses (24a–d)Ln 24$680K$512K$168K$0
All other expensesLn 24e$16K$2K$14K$0
Total functional expensesLn 25$9.3M$4.2M$5.1M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $12.8M$12.6M$195K−$9.1M 990 PDF
FY2024 $12.3M$11.7M$573K−$9.4M 990 PDF
FY2023 $10.5M$10.4M$135K−$12.1M 990 PDF
FY2022 Viewing $9.4M$9.3M$87K−$8.2M 990 PDF
FY2021 $8.6M$8.3M$259K−$10.0M 990 PDF
FY2020 $7.7M$7.2M$501K−$11.6M 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 FY2022 990 (4 parts)
Part VIII · Statement of revenue $9,393,722 across 8 lines filed
VIII-1e Government grants$560,574
VIII-1f All other contributions, gifts and grants$11,277
VIII-1h Total contributions, gifts and grants$571,851
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$7,221,697
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $0$5,351
VIII-6 Net rental income or lossRelated to mission $1,558,275$1,558,275
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $36,548 · Unrelated business $0 · Excluded from tax $0$36,548
VIII-12 Total revenueRelated to mission $8,821,871 · Unrelated business $0 · Excluded from tax $0$9,393,722
Part IX · Statement of functional expenses $9,306,289 across 19 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $0 · Management $97,850 · Fundraising $0$97,850
IX-7 Other salaries and wagesPrograms $2,676,155 · Management $810,026 · Fundraising $0$3,486,181
IX-8 Pension plan contributionsPrograms $606,328 · Management $183,423 · Fundraising $0$789,751
IX-9 Other employee benefitsPrograms $212,425 · Management $59,868 · Fundraising $0$272,293
IX-10 Payroll taxesPrograms $36,377 · Management $11,577 · Fundraising $0$47,954
IX-11b Legal feesPrograms $0 · Management $19,926 · Fundraising $0$19,926
IX-11c Accounting feesPrograms $0 · Management $55,229 · Fundraising $0$55,229
IX-11g Other fees for servicesPrograms $168,551 · Management $54,849 · Fundraising $0$223,400
IX-12 Advertising and promotionPrograms $0 · Management $15,968 · Fundraising $0$15,968
IX-13 Office expensesPrograms $0 · Management $357 · Fundraising $0$357
IX-14 Information technologyPrograms $0 · Management $32,793 · Fundraising $0$32,793
IX-16 OccupancyPrograms $0 · Management $1,848,062 · Fundraising $0$1,848,062
IX-17 TravelPrograms $0 · Management $5,568 · Fundraising $0$5,568
IX-19 Conferences, conventions and meetingsPrograms $26,428 · Management $8,580 · Fundraising $0$35,008
IX-20 InterestPrograms $0 · Management $1,243,305 · Fundraising $0$1,243,305
IX-22 Depreciation, depletion and amortizationPrograms $0 · Management $355,275 · Fundraising $0$355,275
IX-23 InsurancePrograms $0 · Management $81,441 · Fundraising $0$81,441
IX-24 Other expenses (24a–d)Programs $511,871 · Management $168,174 · Fundraising $0$680,045
IX-24e All other expensesPrograms $1,603 · Management $14,280 · Fundraising $0$15,883
IX-25 Total functional expensesPrograms $4,239,738 · Management $5,066,551 · Fundraising $0$9,306,289
Part X · Balance sheet $24,653,762 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $2,430,566$2,601,773
X-2 Savings and temporary cash investmentsStart of year $2,332,842$2,222,004
X-4 Accounts receivableStart of year $11,567$137,195
X-9 Prepaid expenses and deferred chargesStart of year $35,041$116,084
X-10c Land, buildings and equipment, netStart of year $17,947,774$17,602,362
X-15 Other assetsStart of year $3,155,582$1,974,344
X-16 Total assetsStart of year $25,913,372$24,653,762
X-17 Accounts payable and accrued expensesStart of year $186,644$194,636
X-19 Deferred revenueStart of year $126,730$254,668
X-20 Tax-exempt bond liabilitiesStart of year $23,210,000$22,910,000
X-25 Other liabilitiesStart of year $12,419,006$9,451,940
X-26 Total liabilitiesStart of year $35,942,380$32,811,244
X-27 Net assets without donor restrictionsStart of year −$10,029,008−$8,157,482
X-32 Total net assets or fund balancesStart of year −$10,029,008−$8,157,482
X-33 Total liabilities and net assetsStart of year $25,913,372$24,653,762
Part XI · Reconciliation of net assets −$8,157,482 net assets at year end
XI-1 Total revenue$9,393,722
XI-2 Total expenses$9,306,289
XI-3 Revenue less expenses$87,433
XI-4 Net assets at start of year−$10,029,008
XI-9 Other changes in net assets$1,784,093
XI-10 Net assets at end of year−$8,157,482

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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