Ascent Academies Of Utah
- Assets
- $48.8m
- Revenue
- $21.8m
- Investments
- $0.0
- Employees
- 0
- Location
- West Jordan, UT
- Founding
- 02/2015
- Data as of
- 06/2020
- EIN
- 46-2680772
Organization Overview
Ascent Academies Of Utah is located in West Jordan, UT. The organization was established in 2015. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ascent Academies Of Utah 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 06/2020, Ascent Academies Of Utah generated $21.8m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 20.2% each year . All expenses for the organization totaled $22.9m during the year ending 06/2020. While expenses have increased by 21.3% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE EDUCATION OF STUDENTS FROM GRADES K-9.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASCENT ACADEMIES OF UTAH WILL ACCOMPLISH ITS MISSION BY OFFERING EACH STUDENT AN OPPORTUNITY TO FIND AND DEVELOP HIS OR HER OWN UNIQUE PROFILE OF GIFTS AND TALENTS AND BY PROVIDING ALL EMPLOYEES WITH EXCEPTIONAL DEVELOPMENT OPPORTUNITIES THROUGH PROFESSIONAL LEARNING COMMUNITIES, NETWORKING, AND PARTNERSHIPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stuart Adams Board Member | Trustee | 2 | $0 |
James Horton Board Member | Trustee | 2 | $0 |
Tyler Schvaneveldt Board Member | Trustee | 2 | $0 |
Mike Greenhalgh Board Member | Trustee | 2 | $0 |
Mike Ostermiller Board Chair | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $20,287,676 |
| Investment income | $44,327 |
| 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 | $21,756,457 |
| Statement of Expenses | |
|---|---|
| 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. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $1,007,940 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $736,898 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $85,291 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $116,392 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,040,379 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,365,852 |
| Insurance | $70,829 |
| All other expenses | $0 |
| Total functional expenses | $22,901,482 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,966,279 |
| Savings and temporary cash investments | $177,905 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $878,660 |
| 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 | $196,619 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $48,778,054 |
| Accounts payable and accrued expenses | $1,105,537 |
| 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 | $45,324,423 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $46,429,960 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $2,348,094 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Ascent Academies Of Utah has recieved totaling $851.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $851 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Utah Charter Academies Draper, UT | $87,193,817 | $47,458,045 |
Strive Preparatory Schools Denver, CO | $16,366,153 | $54,741,372 |
Kipp Colorado Schools Denver, CO | $14,636,055 | $38,026,869 |
Legacy Traditional Schools - Nevada Inc Chandler, AZ | $98,471,077 | $39,227,732 |
Goal Academy Pueblo, CO | $51,570,908 | $48,674,529 |
Mater Academy Of Nevada Las Vegas, NV | $50,289,285 | $33,903,245 |
Spectrum Academy North Salt Lake City, UT | $38,407,104 | $29,729,025 |
Odyssey Preparatory Academy Inc Buckeye, AZ | $75,530,982 | $28,243,391 |
Rocky Mountain Preparatory School Denver, CO | $30,804,994 | $31,097,127 |
Arizona Connections Academy Charter School Gilbert, AZ | $11,036,365 | $27,443,157 |
Benjamin Franklin Charter School - Queen Creek Gilbert, AZ | $74,039,747 | $26,576,099 |
Daisy Education Corporation Gilbert, AZ | $46,295,236 | $27,502,043 |