Massanutten Academy FY2024 filing

Tax-deductible

Woodstock, VA501(c)(3)EIN 54-0537403

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Our mission is to provide each cadet with an academic, character, leadership and physical education of excellence, which ensures his/her development and readiness for college, leadership, and citizenship. Our mission is implemented with discipline, fostered with structure and a firm, fair, consistent and supportive environment. Our mission is established on the founding motto of the Academy, "non nobis solum" (not for ourselves alone"), and based on the principles of courage, purity, and industry.

501(c)(3) charity; gifts are tax-deductible.
80¢ of each $1 spent went to programs.
$254K 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

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 $301K a year · 6% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
80%
of spending
Looks good: 80% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$254K
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
1 mo
of spending, in cash
Fine: 1.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $26K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$1.4M
20% of total assets
Looks good: liabilities are 20% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5.0M
+1.0% vs prior year
Spent
$5.6M
To programs
80%
Net assets
$5.8M
By yearFY2020–FY2025
Revenue
$5.0M
FY2024▲ +1.0%
Revenue by fiscal year
FY2020$4.9M
FY2021$5.1M
FY2022$7.4M
FY2023$4.9M
FY2024$5.0M
FY2025$5.5M
Expenses
$5.6M
FY2024▲ +1%
Expenses by fiscal year
FY2020$6.0M
FY2021$5.5M
FY2022$5.7M
FY2023$5.5M
FY2024$5.6M
FY2025$6.2M
Net assets
$5.8M
FY2024▼ -7%
Net assets by fiscal year
FY2020$5.4M
FY2021$5.3M
FY2022$7.0M
FY2023$6.2M
FY2024$5.8M
FY2025$5.3M

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 Jan 1934.

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

Where the money goes

80 cents of each dollar spent went to programs.

Program services 80% · $4.5M Management & general 19% · $1.1M Fundraising 1% · $30K

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

14 people listed on the 990; $254K 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
Jrotc Staff
$141,124Pt VII · Sec A
Head of School
$112,815Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Chairman of the Development Committee
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

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

NameFY2025FY2024FY2023FY2022FY2021FY2020
Lester Layman$140,854$141,124$140,658$140,662$132,254$115,707
Kimberly Elshafie$112,294$112,815$119,998$97,245$96,517$108,018

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 Massanutten 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Develops cadets academically, physically, and morally for college and citizenship.

Provided by the organization

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1 program · $4.5M · in their own filed words · FY2023
01

Provide education and boarding for grades 6 through 12 and post graduate for approximately 150 students.

$4.5Mprogram 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 · FY2023
Total grants receivedfrom 3 funders$26K
See all 3 funders →
Grants paid · 6 grants · $3.0M · 2020–2024
Unitemized GrantFY2024$692,090
Unitemized GrantFY2023$481,700
Unitemized GrantFY2022$438,700
Unitemized GrantFY2022$341,777
Unitemized GrantFY2021$607,750
Unitemized GrantFY2020$482,000

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$5.0M
Ln 12
Fees for servicesLn 2g$4.3M
Gifts and grantsLn 1h$476K
Other incomeLn 4–11$157K
Money outPt IX
$5.6M
Ln 25
Programscol B$4.5M
Managementcol C$1.1M
Fundraisingcol D$30K
Owns and owesPt X
$5.8M
net assets · Ln 32
Cash and savingsLn 1–2$451K
Total assetsLn 16$7.2M
LiabilitiesLn 26$1.4M
PeoplePt VI, VII
14
listed · VII A
PaidVII A2
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$476K
Fees for servicesLn 2g$4.3M
Investment incomeLn 3$69K
Other incomeLn 4–11$157K
Total revenueLn 12$5.0M
Assets in detailPt X, end of year
CashLn 1$1K
SavingsLn 2$450K
Cash and savings togetherLn 1–2$451K
InvestmentsLn 11–13$1.3M
Land, buildings, equipmentLn 10c$3.4M
Other assetsLn 15$1.6M
Total assetsLn 16$7.2M
LiabilitiesLn 26$1.4M
Net assetsLn 32$5.8M
OperationsPt I, VI
EmployeesI 598
VolunteersI 60
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$1.3M$451K
InvestmentsLn 11–13$1.0M$1.3M
Land, buildings, equipmentLn 10c$3.6M$3.4M
Total assetsLn 16$7.8M$7.2M
LiabilitiesLn 26$1.5M$1.4M
Net assetsLn 32$6.2M$5.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$482K$482K
Pay of current officers, directors and key staffLn 5$246K$121K$99K$26K
Other salaries and wagesLn 7$2.2M$1.9M$305K
Pension plan contributionsLn 8$72K$58K$13K$1K
Other employee benefitsLn 9$91K$75K$15K$995
Payroll taxesLn 10$175K$144K$29K$2K
Management feesLn 11a$1K$1K
Legal feesLn 11b$10K$10K
Accounting feesLn 11c$34K$34K
Other fees for servicesLn 11g$7K$7K
Advertising and promotionLn 12$145K$145K
Office expensesLn 13$44K$38K$6K
Information technologyLn 14$155K$133K$22K
OccupancyLn 16$230K$198K$32K
TravelLn 17$44K$44K
InterestLn 20$11K$11K
Depreciation, depletion and amortizationLn 22$406K$349K$57K
InsuranceLn 23$124K$124K
Other expenses (24a–d)Ln 24$802K$747K$55K
All other expensesLn 24e$350K$235K$115K
Total functional expensesLn 25$5.6M$4.5M$1.1M$30K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $5.5M$6.2M−$718K$5.3M 990 PDF
FY2024 Viewing $5.0M$5.6M−$652K$5.8M 990 PDF
FY2023 $4.9M$5.5M−$638K$6.2M 990 PDF
FY2022 $7.4M$5.7M$1.7M$7.0M 990 PDF
FY2021 $5.1M$5.5M−$448K$5.3M 990 PDF
FY2020 $4.9M$6.0M−$1.0M$5.4M 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 $4,956,695 across 7 lines filed
Lines not itemized here account for $3,795 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$475,840
VIII-1h Total contributions, gifts and grants$475,840
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $4,254,432$4,254,432
VIII-3 Investment incomeExcluded from tax $69,352$69,352
VIII-6 Net rental income or lossExcluded from tax $10,200$10,200
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $143,076$143,076
VIII-12 Total revenueRelated to mission $4,397,508 · Unrelated business $0 · Excluded from tax $83,347$4,956,695
Part IX · Statement of functional expenses $5,608,234 across 20 lines filed
IX-2 Grants to domestic individualsPrograms $481,700$481,700
IX-5 Pay of current officers, directors and key staffPrograms $121,353 · Management $98,505 · Fundraising $26,250$246,108
IX-7 Other salaries and wagesPrograms $1,874,134 · Management $305,092$2,179,226
IX-8 Pension plan contributionsPrograms $57,610 · Management $13,176 · Fundraising $1,266$72,052
IX-9 Other employee benefitsPrograms $74,621 · Management $15,132 · Fundraising $995$90,748
IX-10 Payroll taxesPrograms $143,938 · Management $29,300 · Fundraising $1,956$175,194
IX-11a Management feesManagement $1,063$1,063
IX-11b Legal feesManagement $10,143$10,143
IX-11c Accounting feesManagement $34,287$34,287
IX-11g Other fees for servicesManagement $6,790$6,790
IX-12 Advertising and promotionManagement $144,566$144,566
IX-13 Office expensesPrograms $37,711 · Management $6,139$43,850
IX-14 Information technologyPrograms $133,340 · Management $21,706$155,046
IX-16 OccupancyPrograms $197,917 · Management $32,219$230,136
IX-17 TravelPrograms $43,644$43,644
IX-20 InterestManagement $11,358$11,358
IX-22 Depreciation, depletion and amortizationPrograms $348,936 · Management $56,804$405,740
IX-23 InsuranceManagement $124,203$124,203
IX-24 Other expenses (24a–d)Programs $747,104 · Management $55,127$802,231
IX-24e All other expensesPrograms $234,813 · Management $115,336$350,149
IX-25 Total functional expensesPrograms $4,496,821 · Management $1,080,946 · Fundraising $30,467$5,608,234
Part X · Balance sheet $7,226,044 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $1,000$1,000
X-2 Savings and temporary cash investmentsStart of year $1,280,190$450,119
X-4 Accounts receivableStart of year $148,305$253,878
X-8 Inventories for sale or useStart of year $203,376$202,368
X-9 Prepaid expenses and deferred chargesStart of year $22,073$61,105
X-10c Land, buildings and equipment, netStart of year $3,649,564$3,356,564
X-11 Publicly traded securitiesStart of year $2,774$3,860
X-12 Other securitiesStart of year $1,029,493$1,340,681
X-15 Other assetsStart of year $1,420,255$1,556,469
X-16 Total assetsStart of year $7,757,030$7,226,044
X-17 Accounts payable and accrued expensesStart of year $306,511$368,007
X-19 Deferred revenueStart of year $852,525$735,688
X-25 Other liabilitiesStart of year $211,963$162,691
X-26 Total liabilitiesStart of year $1,520,899$1,416,286
X-27 Net assets without donor restrictionsStart of year $3,048,382$2,146,923
X-28 Net assets with donor restrictionsStart of year $3,187,749$3,662,835
X-32 Total net assets or fund balancesStart of year $6,236,131$5,809,758
X-33 Total liabilities and net assetsStart of year $7,757,030$7,226,044
Part XI · Reconciliation of net assets $5,809,758 net assets at year end
XI-1 Total revenue$4,956,695
XI-2 Total expenses$5,608,234
XI-3 Revenue less expenses−$651,539
XI-4 Net assets at start of year$6,236,131
XI-5 Net unrealized gains (losses) on investments$36,762
XI-9 Other changes in net assets$188,404
XI-10 Net assets at end of year$5,809,758

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

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