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Two Rivers Classical Academy EIN 83-0897920

Two Rivers Classical Academy

EIN  83-0897920 Public charity (501(c)(3)) Wdm, IA
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Size
$1–10M
What they do
Provides staff, facilities, and programs for Two Rivers Classical Academy.
Leadership
Nathan Oppman · Headmaster · $76K
Money in and out
$1.2M revenue, $1.2M expenses
Bottom line
90% program efficiency

Provides staff, facilities, and programs for Two Rivers Classical Academy. For fiscal year 2025 it reported $1.2M in revenue, $1.2M in expenses, and $582K in net assets.Pt I

Where the money goes · FY2025
Total revenue
$1.2M
Pt VIII · Ln 12
Total expenses
$1.2M
Pt IX · Ln 25
Net assets
$582K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $16K
Where spending went · Part IX cols B–D
Program services $0.90 Management & general $0.08 Fundraising $0.01
Program efficiency
90%
of spending reaches programs▼ -3% vs prior filing year
Operating runway
7.3mo
months of highly liquid reserves at operating expense rate▼ -43% vs prior filing year
Surplus margin
+1%
revenue over expenses, this year▼ -90% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$1.2M
FY2025▼ -3%
Expenses
$1.2M
FY2025▲ +10%
Total assets
$742K
FY2025▼ -38%
Total liabilities
$160K
FY2025▼ -75%
Total revenue
$1.2M
Pt VIII · Ln 12
Total expenses
$1.2M
Pt IX · Ln 25
Net assets
$582K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$16K
Total assetsPt X · Ln 16$742K
Program-expense ratioPt IX · col B90%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 47
Mission & Programs · Part III

Where the work happens

1 program service account for $1.1M of program spending, described in the organization's own filed words · FY2024.
01

Operating two rivers classical academy for 243 students in grades 1 to 12.

$1.1Mprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CTwo Rivers Classical Academy
EINHdr · item D83-0897920
Principal addressHdr · item CWdm, IA
WebsiteHdr · item Jtworiversclassical.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MIA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B24)
Ruling yearIRS BMFJul 2019

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a7
Independent voting membersPt VI · Ln 1b7
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Nathan Oppman
Headmaster
$75,687Pt VII · Sec A
$18,592Pt VII · Sec A
Andrew Fogle
Director and Treasurer
$0Pt VII · Sec A
Elizabeth Bomer
Director and Secretary
$0Pt VII · Sec A
Andrew Schoonhoven
Director and Chair
$0Pt VII · Sec A
Nick Bal
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Nathan Oppman’s $76K as Headmaster is at the 17th percentile of top reported officer pay among 3393 $1–10M 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 · 4 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021
Nathan Oppman$75,687$66,232$57,813$48,733—
Andrew Karas—$5,833$12,917$22,490$6,000
Zach Dietrich$18,592$16,192$17,250$21,206$6,000
Stanley Jensen————$6,000

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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Statement of Revenue

Part VIII
Program service revenue$1.2M · 94%
Contributions & grants$44K · 4%
Investment income$35K · 3%
Program service revenue94%$1.2M
Contributions & grants4%$44K
Investment income3%$35K
Total revenueLn 12$1.2M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.90 Management & general $0.08 Fundraising $0.01
Program services90%$1.1M
Management & general8%$102K
Fundraising1%$15K
Total functional expensesLn 25$1.2M

Balance Sheet

Part X · end of year
CashLn 1$509K
Total assetsLn 16$742K
Total liabilitiesLn 26$160K
Total net assetsLn 32$582K
Months of cash on handcomputed5.0

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $741K · Operating expenses/yr $1.2M
7.3 months
Where the money goes
Program services
Program services $1.1M · Total expenses $1.2M
90%
Management & General
Management & general $102K · Total expenses $1.2M
8%
Fundraising
Fundraising $15K · Total expenses $1.2M
1%
Cost to raise $1
Fundraising expense (3-yr avg) $7K · Solicited contributions (3-yr avg) $96K
$0.07 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $44K · Total revenue $1.2M
4%
Government reliance
Government grants — · Total revenue $1.2M
—
Earned-income share
Program service revenue $1.2M · Total revenue $1.2M
94%
Investment reliance
Investment income $35K · Total revenue $1.2M
+3%
Program self-sufficiency
Program service revenue $1.2M · Total expenses $1.2M
95%
Growth & trend
Revenue growth (YoY)
This year $1.2M · Prior year $1.3M
-3%
Revenue CAGR
FY2020 $458K · FY2024 $1.2M
+28%
Net-asset trend (YoY)
End of year $582K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $1.2M · Expenses $1.2M
+1%
Liabilities-to-Assets
Total liabilities — · Total assets $742K
—
Net-asset ratio
Net assets $582K · Total assets $742K
78%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $233K · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $742K
31%
People & payroll
Highest Reported Total Compensation
Individual Nathan Oppman · Reported title Headmaster · Highest reported compensation $76K · Total expenses $1.2M
6%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $932K · Total expenses $1.2M
77%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 90%——
Overhead ratio 8%——
Fundraising cost ratio 34%——
Revenue growth -3%——
Legal fee ratio 1%——
Accounting fee ratio 1%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2023
Amazonsmile FoundationFY2023$273
Total grants receivedfrom 1 funder$273

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$1.2M revenue · viewing · ⤓ 990 PDF
FY2024$1.3M revenue · ⤓ 990 PDF
FY2023$988K revenue · ⤓ 990 PDF
FY2022$763K revenue · ⤓ 990 PDF
FY2021$458K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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