Elevate Academy FY2024 filing

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Public Education.

501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
$395K 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
3 of 5
filings with a surplus
Average surplus $139K a year · 1% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$395K
to officers and key staff · 4% of spending
Looks good: pay to officers and key staff is 4% of spending; 15% or less.
Pt VII · Sec A
5 mo
of spending, in cash
Looks good: 4.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $665K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$15.9M
87% of total assets
Concern: liabilities are 87% 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
$11.8M
+27% vs prior year
Spent
$10.7M
To programs
92%
Net assets
$2.4M
By yearFY2021–FY2025
Revenue
$11.8M
FY2024▲ +27%
Tap a bar for its year
Revenue by fiscal year
FY2021$6.3M
FY2022$8.2M
FY2023$9.3M
FY2024$11.8M
FY2025$11.2M
Expenses
$10.7M
FY2024▲ +8%
Tap a bar for its year
Expenses by fiscal year
FY2021$6.3M
FY2022$7.4M
FY2023$9.9M
FY2024$10.7M
FY2025$11.9M
Net assets
$2.4M
FY2024▲ +92%
Tap a bar for its year
Net assets by fiscal year
FY2021$1.3M
FY2022$1.9M
FY2023$1.2M
FY2024$2.4M
FY2025$1.6M

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 Jul 2018.

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

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $9.9M Management & general 8% · $805K

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

11 people listed on the 990; $395K 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
Co-Founder
$108,760Pt VII · Sec A
$96,840Pt VII · Sec A
$95,412Pt VII · Sec A
$93,782Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Member
$0Pt VII · Sec A
$0Pt VII · Sec A

Curtis Watson’s $102K as Co-Admin is at the 3rd 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 · 5 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021
Monica White$81,023$108,760$137,130$126,067$116,241
Matthew Strong$69,008$95,412$120,467——
Matt Strong———$113,401$107,867
Curtis Watson$102,166$96,840———
Jessica Figueroa$95,831$93,782———

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

Elevate Academy is an education nonprofit based in Caldwell, ID, formed in 2017.

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Provided by the organization

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1 program · $9.9M · in their own filed words · FY2023
01

The school is an independent state-funded public charter school governed under Title 33, Chapter 52 of Idaho Code. It provides innovative educational curricula within the public school system but independent from the traditional structure. Virtually all revenues and expenses relate to this single program service.

$9.9Mprogram 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
Charter Fund INCFY2024$665K
Total grants receivedfrom 1 funder$665K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$11.8M
Ln 12
Gifts and grantsLn 1h$11.7M
Investment incomeLn 3$155K
Money outPt IX
$10.7M
Ln 25
Programscol B$9.9M
Managementcol C$805K
Owns and owesPt X
$2.4M
net assets · Ln 32
Cash and savingsLn 1–2$4.2M
Total assetsLn 16$18.3M
LiabilitiesLn 26$15.9M
PeoplePt VI, VII
11
listed · VII A
PaidVII A4
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$11.7M
Government grantsLn 1e$10.0M
Investment incomeLn 3$155K
Gains on assetsLn 7$0
Total revenueLn 12$11.8M
Assets in detailPt X, end of year
CashLn 1$1.3M
SavingsLn 2$2.9M
Cash and savings togetherLn 1–2$4.2M
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$11.5M
Other assetsLn 15$2.0M
Total assetsLn 16$18.3M
LiabilitiesLn 26$15.9M
Net assetsLn 32$2.4M
OperationsPt I, VI
EmployeesI 557
VolunteersI 67
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$2.9M$4.2M
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$11.6M$11.5M
Total assetsLn 16$18.1M$18.3M
LiabilitiesLn 26$16.9M$15.9M
Net assetsLn 32$1.2M$2.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$431K$431K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$4.9M$4.9M
Pension plan contributionsLn 8$636K$581K$55K
Other employee benefitsLn 9$713K$656K$58K
Payroll taxesLn 10$409K$376K$33K
Management feesLn 11a$0
Legal feesLn 11b$333$333
Accounting feesLn 11c$0
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$0
Office expensesLn 13$0
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$387K$349K$39K
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$753K$753K
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$294K$294K
InsuranceLn 23$24K$21K$2K
Other expenses (24a–d)Ln 24$2.1M$1.9M$187K
All other expensesLn 24e$0
Total functional expensesLn 25$10.7M$9.9M$805K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Oct 14, 2025 $11.2M$11.9M−$719K$1.6M 990 PDF
FY2024 ViewingFiled with the IRS Sep 12, 2024 $11.8M$10.7M$1.1M$2.4M 990 PDF
FY2023Filed with the IRS Sep 9, 2023 $9.3M$9.9M−$625K$1.2M 990 PDF
FY2022Filed with the IRS Aug 12, 2022 $8.2M$7.4M$871K$1.9M 990 PDF
FY2021Filed with the IRS Sep 14, 2021 $6.3M$6.3M$42K$1.3M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $11,817,716 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $9,202,142$11,662,654
I-9 Program service revenue$0
I-10 Investment incomePrior year $74,513$155,062
I-11 Other revenue$0
I-12 Total revenuePrior year $9,276,655$11,817,716
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $5,432,208$7,100,067
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $4,469,880$3,591,211
I-18 Total expensesPrior year $9,902,088$10,691,278
I-19 Revenue less expensesPrior year −$625,433$1,126,438
Part VI · Governance 7 of 7 board members independent, no flags
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
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 $11,817,716 across 9 lines filed
VIII-1e Government grants$10,018,200
VIII-1f All other contributions, gifts and grants$1,644,454
VIII-1h Total contributions, gifts and grants$11,662,654
VIII-3 Investment incomeRelated to mission $155,062$155,062
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $155,062$11,817,716
Part IX · Statement of functional expenses $10,691,278 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffManagement $431,055$431,055
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $4,911,227$4,911,227
IX-8 Pension plan contributionsPrograms $581,070 · Management $54,701$635,771
IX-9 Other employee benefitsPrograms $655,772 · Management $57,557$713,329
IX-10 Payroll taxesPrograms $375,709 · Management $32,976$408,685
IX-11a Management fees$0
IX-11b Legal feesManagement $333$333
IX-11c Accounting fees$0
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-12 Advertising and promotion$0
IX-13 Office expenses$0
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 OccupancyPrograms $348,718 · Management $38,747$387,465
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 InterestPrograms $753,439$753,439
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $294,129$294,129
IX-23 InsurancePrograms $21,387 · Management $2,376$23,763
IX-24 Other expenses (24a–d)Programs $1,945,294 · Management $186,788$2,132,082
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $9,886,745 · Management $804,533 · Fundraising $0$10,691,278
Part X · Balance sheet $18,253,759 assets, 20 lines filed
X-1 Cash, non-interest-bearingStart of year $859,912$1,335,586
X-2 Savings and temporary cash investmentsStart of year $2,066,858$2,857,124
X-3 Pledges and grants receivableStart of year $1,063,863$593,401
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $92,812$364
X-10c Land, buildings and equipment, netStart of year $11,623,568$11,499,123
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $2,385,113$1,968,161
X-16 Total assetsStart of year $18,092,126$18,253,759
X-17 Accounts payable and accrued expensesStart of year $348,241$414,020
X-19 Deferred revenueStart of year $626,859$25,400
X-25 Other liabilitiesStart of year $3,923,028$3,657,463
X-26 Total liabilitiesStart of year $16,863,128$15,898,323
X-27 Net assets without donor restrictionsStart of year $1,228,998$2,355,436
X-32 Total net assets or fund balancesStart of year $1,228,998$2,355,436
X-33 Total liabilities and net assetsStart of year $18,092,126$18,253,759
Part XI · Reconciliation of net assets $2,355,436 net assets at year end
XI-1 Total revenue$11,817,716
XI-2 Total expenses$10,691,278
XI-3 Revenue less expenses$1,126,438
XI-4 Net assets at start of year$1,228,998
XI-10 Net assets at end of year$2,355,436

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

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