Gateway Preparatory Academy
- Assets
- $13.2m
- Revenue
- $7.8m
- Investments
- $0.0
- Employees
- 187
- Location
- Enoch, UT
- Founding
- 01/2008
- Data as of
- 06/2023
- EIN
- 20-8253001
Organization Overview
Gateway Preparatory Academy is located in Enoch, UT. The organization was established in 2008. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2023, Gateway Preparatory Academy employed 187 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gateway Preparatory Academy is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Gateway Preparatory Academy generated $7.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $6.8m during the year ending 06/2023. While expenses have increased by 5.5% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
A CHARTER SCHOOL SERVING STUDENTS FROM KINDERGARTEN TO EIGHTH GRADE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATES A PUBLIC CHARTER SCHOOL FOR STUDENTS GRADES KINDERGARTEN TO EIGHTH GRADE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jonada Munk Business Manager | 40 | $128,100 | |
Jenna Ayers Executive Director (from 3/23) | Officer | 40 | $0 |
Michael Bahr Exec. Dir. (thru 10/22)/board Member | OfficerTrustee | 40 | $38,333 |
Brittany Jensen Chair | OfficerTrustee | 2 | $0 |
Paul Dail Vice-Chair | OfficerTrustee | 1 | $0 |
Roger Carter Treasurer | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $7,584,367 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,467 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,592,834 |
| Total Program Service Revenue | $82,602 |
| Investment income | $154,326 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $8,970 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,838,732 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $84,482 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,826,483 |
| Pension plan accruals and contributions | $102,376 |
| Other employee benefits | $369,421 |
| Payroll taxes | $292,011 |
| Fees for services: Management | $7,750 |
| Fees for services: Legal | $50,866 |
| Fees for services: Accounting | $21,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $132,827 |
| Advertising and promotion | $1,868 |
| Office expenses | $0 |
| Information technology | $28,876 |
| Royalties | $0 |
| Occupancy | $13,675 |
| Travel | $57,330 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $368,173 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $350,326 |
| Insurance | $16,720 |
| All other expenses | $4,525 |
| Total functional expenses | $6,755,459 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,732,889 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $433,454 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $35,628 |
| Net Land, buildings, and equipment | $7,837,503 |
| Investments—publicly traded securities | $176,254 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $13,215,728 |
| Accounts payable and accrued expenses | $311,952 |
| Grants payable | $0 |
| Deferred revenue | $3,979 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $7,397,903 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $7,713,834 |
| Net assets without donor restrictions | $5,115,495 |
| Net assets with donor restrictions | $386,399 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $13,215,728 |