Montessori Education Trust Inc
- Assets
- $2.0m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 38
- Location
- Charlottesville, VA
- Founding
- 09/2001
- Data as of
- 05/2023
- EIN
- 31-1712963
Organization Overview
Montessori Education Trust Inc is located in Charlottesville, VA. The organization was established in 2001. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 05/2023, Montessori Education Trust Inc employed 38 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Montessori Education Trust Inc 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 05/2023, Montessori Education Trust Inc generated $1.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $1.3m during the year ending 05/2023. While expenses have increased by 5.6% 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
TO EDUCATE CHILDREN OF PRESCHOOL AGE THROUGH KINDERGARTEN USING THE MONTESSORI CURRICULUM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL SERVICE USING THE MONTESSORI CURRICULUM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lindsey Munson Treasurer | OfficerTrustee | 1 | $80,180 |
Kelly Carwile Secretary | OfficerTrustee | 1 | $0 |
Katie Shevlin Chair-Interim | OfficerTrustee | 1 | $0 |
Corey Lloyd Program Director | Trustee | 1 | $64,081 |
Kimberly Saunders Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $36,860 |
| All other contributions, gifts, grants, and similar amounts not included above | $101,056 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $137,916 |
| Total Program Service Revenue | $1,095,359 |
| Investment income | $2,600 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $1,235,875 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $73,250 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $153,157 |
| Compensation of current officers, directors, key employees. | $21,442 |
| Compensation to disqualified persons | $576,144 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $94,258 |
| Payroll taxes | $66,971 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,778 |
| Fees for services: Accounting | $1,295 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,719 |
| Office expenses | $8,408 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,660 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $70,639 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $49,587 |
| Insurance | $10,089 |
| All other expenses | $37,320 |
| Total functional expenses | $1,287,176 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $41,142 |
| Savings and temporary cash investments | $77,611 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $34,272 |
| 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 | $0 |
| Net Land, buildings, and equipment | $1,795,965 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $10,636 |
| Other assets | $0 |
| Total assets | $1,959,626 |
| Accounts payable and accrued expenses | $2,823 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $1,591,174 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,593,997 |
| Net assets without donor restrictions | $365,629 |
| Net assets with donor restrictions | $0 |
| 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 | $1,959,626 |