Fit Academy FY2024 filing

Tax-deductible

Apple Valley, MN501(c)(3)Since 2014EIN 47-4006097Revenue $5.6M in FY2024

On file with the IRSfitacademymn.org7200 147th St W, 55124-9008 · Apple Valley, MNTax-exempt since Feb 2016School — 170(b)(1)(A)(ii)

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The purpose of Fit Academy is to prepare the whole student for life. We believe our school empowers students to live fulfilling, responsible, and successful lives by purposefully integrating the three developmental areas of fitness, intellect, and teamwork.

501(c)(3) charity; gifts are tax-deductible.
74¢ of each $1 spent went to programs.
$369K 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
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
1 of 6
filings with a surplus
Average deficit $172K a year · 3% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
74%
of spending
Fine: 74% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$369K
to officers and key staff · 6% of spending
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.9 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $9K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$9.7M
112% of total assets
Concern: liabilities are 112% of assets; over 80%.
Pt X · Ln 26
Independent board members
6
of 8 voting members
Looks good: 6 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5.6M
-1% vs prior year
Spent
$6.3M
To programs
74%
Net assets
−$1.1M
By yearFY2020–FY2025
Revenue
$5.6M
FY2024▼ -1%
Tap a bar for its year
Revenue by fiscal year
FY2020$3.8M
FY2021$4.4M
FY2022$4.4M
FY2023$5.7M
FY2024$5.6M
FY2025$6.9M
Expenses
$6.3M
FY2024▲ +8%
Tap a bar for its year
Expenses by fiscal year
FY2020$4.2M
FY2021$4.5M
FY2022$4.6M
FY2023$5.8M
FY2024$6.3M
FY2025$6.4M
Net assets
−$1.1M
FY2024▼ -137%
Tap a bar for its year
Net assets by fiscal year
FY2020−$73K
FY2021−$123K
FY2022−$368K
FY2023−$456K
FY2024−$1.1M
FY2025−$673K

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 Feb 2016.

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

Where the money goes

74 cents of each dollar spent went to programs.

Program services 74% · $4.6M Management & general 26% · $1.7M

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

10 people listed on the 990; $369K 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
Executive Director
$121,114Pt VII · Sec A
Sped Director
$104,135Pt VII · Sec A
$73,659Pt VII · Sec A
Secretary
$69,686Pt VII · Sec A
$0Pt VII · Sec A
Member (former)
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 5 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Claud Allaire$128,259$121,114$122,602$123,110$110,000$95,658
Molly Hunholz$110,624$104,135$103,896$103,896——
Shannon Baker$88,560$73,659$69,078$69,078$57,083$47,921
Eric Kalenze$87,874—————
Angie Halama$74,695$69,686$73,128$75,898$66,258—

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

Prepares students for life by integrating fitness, intellect, and teamwork.

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Provided by the organization

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1 program · $4.6M · in their own filed words · FY2023
01

As the school's enrollment continues to grow, so does its programs required to serve those students. This has resulted in an increase in the number of students to an enrollment of 392 in grades k-12.

$4.6Mprogram 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 1 funder$9K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$5.6M
Ln 12
Gifts and grantsLn 1h$5.6M
Fees for servicesLn 2g$58K
Investment incomeLn 3$5K
Money outPt IX
$6.3M
Ln 25
Programscol B$4.6M
Managementcol C$1.7M
Owns and owesPt X
−$1.1M
net assets · Ln 32
Cash and savingsLn 1–2$468K
Total assetsLn 16$8.7M
LiabilitiesLn 26$9.7M
PeoplePt VI, VII
10
listed · VII A
PaidVII A4
Voting boardVI 1a8
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$5.6M
Government grantsLn 1e$5.5M
Fees for servicesLn 2g$58K
Investment incomeLn 3$5K
Total revenueLn 12$5.6M
Assets in detailPt X, end of year
CashLn 1$214K
SavingsLn 2$254K
Cash and savings togetherLn 1–2$468K
Land, buildings, equipmentLn 10c$6.3M
Other assetsLn 15$1.1M
Total assetsLn 16$8.7M
LiabilitiesLn 26$9.7M
Net assetsLn 32−$1.1M
OperationsPt I, VI
EmployeesI 582
VolunteersI 610
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$249K$468K
Land, buildings, equipmentLn 10c$6.5M$6.3M
Total assetsLn 16$9.8M$8.7M
LiabilitiesLn 26$10.2M$9.7M
Net assetsLn 32−$456K−$1.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$431K$431K
Other salaries and wagesLn 7$2.4M$2.1M$263K
Pension plan contributionsLn 8$930K$858K$72K
Other employee benefitsLn 9$176K$161K$15K
Payroll taxesLn 10$213K$194K$19K
Legal feesLn 11b$7K$7K
Accounting feesLn 11c$109K$109K
Other fees for servicesLn 11g$254K$251K$3K
Advertising and promotionLn 12$4K$4K
Office expensesLn 13$23K$23K
Information technologyLn 14$52K$33K$19K
OccupancyLn 16$550K$286$550K
TravelLn 17$107K$107K
InterestLn 20$2K$2K
Depreciation, depletion and amortizationLn 22$405K$47K$358K
InsuranceLn 23$29K$29K
Other expenses (24a–d)Ln 24$511K$357K$154K
All other expensesLn 24e$51K$19K$32K
Total functional expensesLn 25$6.3M$4.6M$1.7M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $6.9M$6.4M$427K−$673K 990 PDF
FY2024 Viewing $5.6M$6.3M−$624K−$1.1M 990 PDF
FY2023 $5.7M$5.8M−$88K−$456K 990 PDF
FY2022 $4.4M$4.6M−$245K−$368K 990 PDF
FY2021 $4.4M$4.5M−$50K−$123K 990 PDF
FY2020 $3.8M$4.2M−$451K−$73K 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 $5,639,979 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $4,746,917$5,581,848
I-9 Program service revenuePrior year $920,106$57,916
I-10 Investment incomePrior year $0$4,866
I-11 Other revenuePrior year $30,806−$4,651
I-12 Total revenuePrior year $5,697,829$5,639,979
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 $3,610,961$4,157,470
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $2,174,526$2,106,099
I-18 Total expensesPrior year $5,785,487$6,263,569
I-19 Revenue less expensesPrior year −$87,658−$623,590
Part VI · Governance 6 of 8 board members independent, 1 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members6
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $5,639,979 across 6 lines filed
Lines not itemized here account for −$4,651 of total revenue; see the IRS return.
VIII-1e Government grants$5,542,427
VIII-1f All other contributions, gifts and grants$39,421
VIII-1h Total contributions, gifts and grants$5,581,848
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $57,916$57,916
VIII-3 Investment incomeExcluded from tax $4,866$4,866
VIII-12 Total revenueRelated to mission $57,916 · Unrelated business $0 · Excluded from tax $215$5,639,979
Part IX · Statement of functional expenses $6,263,569 across 18 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $430,751$430,751
IX-7 Other salaries and wagesPrograms $2,145,241 · Management $262,525$2,407,766
IX-8 Pension plan contributionsPrograms $858,111 · Management $71,667$929,778
IX-9 Other employee benefitsPrograms $160,615 · Management $15,305$175,920
IX-10 Payroll taxesPrograms $193,941 · Management $19,314$213,255
IX-11b Legal feesManagement $7,436$7,436
IX-11c Accounting feesManagement $109,478$109,478
IX-11g Other fees for servicesPrograms $251,341 · Management $3,008$254,349
IX-12 Advertising and promotionManagement $4,387$4,387
IX-13 Office expensesManagement $22,515$22,515
IX-14 Information technologyPrograms $33,269 · Management $18,696$51,965
IX-16 OccupancyPrograms $286 · Management $549,625$549,911
IX-17 TravelPrograms $107,452$107,452
IX-20 InterestManagement $2,369$2,369
IX-22 Depreciation, depletion and amortizationPrograms $47,303 · Management $357,538$404,841
IX-23 InsuranceManagement $29,247$29,247
IX-24 Other expenses (24a–d)Programs $357,485 · Management $153,515$511,000
IX-24e All other expensesPrograms $18,791 · Management $32,358$51,149
IX-25 Total functional expensesPrograms $4,604,586 · Management $1,658,983 · Fundraising $0$6,263,569
Part X · Balance sheet $8,668,515 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $249,037$214,032
X-2 Savings and temporary cash investments$254,092
X-4 Accounts receivableStart of year $1,302,988$744,273
X-9 Prepaid expenses and deferred chargesStart of year $21,583$20,121
X-10c Land, buildings and equipment, netStart of year $6,521,525$6,339,847
X-15 Other assetsStart of year $1,661,812$1,096,150
X-16 Total assetsStart of year $9,756,945$8,668,515
X-17 Accounts payable and accrued expensesStart of year $575,446$365,535
X-25 Other liabilitiesStart of year $3,001,466$3,144,149
X-26 Total liabilitiesStart of year $10,212,945$9,748,105
X-32 Total net assets or fund balancesStart of year −$456,000−$1,079,590
X-33 Total liabilities and net assetsStart of year $9,756,945$8,668,515
Part XI · Reconciliation of net assets −$1,079,590 net assets at year end
XI-1 Total revenue$5,639,979
XI-2 Total expenses$6,263,569
XI-3 Revenue less expenses−$623,590
XI-4 Net assets at start of year−$456,000
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$1,079,590

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

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