Monument Academy Inc
- Assets
- $21.6m
- Revenue
- $11.2m
- Investments
- $0.0
- Employees
- 100
- Location
- Washington, DC
- Founding
- 07/2014
- Data as of
- 06/2023
- EIN
- 46-3662061
Organization Overview
Monument Academy Inc is located in Washington, DC. The organization was established in 2014. 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, Monument Academy Inc employed 100 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Monument Academy 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 06/2023, Monument Academy Inc generated $11.2m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 16.5% each year . All expenses for the organization totaled $11.2m during the year ending 06/2023. While expenses have increased by 19.1% 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 EMPOWER CHILDREN AND FAMILIES WHO HAVE EXPERIENCED SIGNIFICANT ADVERSITY, INCLUDING INVOLVEMENT OR RISK OF INVOLVEMENT IN CHILD WELFARE AND/OR OTHER SOCIAL SERVICE SYSTEMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MONUMENT ACADEMY'S PROGRAMS INCLUDE A DAYTIME SCHOOL PROGRAM, WHICH INVOLVES EDUCATING STUDENTS AND ENRICHMENT ACTIVITIES, AND AN EVENING RESIDENTIAL PROGRAM, WHICH INVOLVES HOUSING STUDENTS FROM SUNDAY EVENING THROUGH FRIDAY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tycely Williams Chair | OfficerTrustee | 2 | $0 |
Tameria Lewis Vice Chair | OfficerTrustee | 2 | $0 |
James Waller Finance Chair Treasurer As Of December 2022 | OfficerTrustee | 2 | $0 |
Requita Mcneil Secretary As Of February 2023 | OfficerTrustee | 2 | $0 |
Carla Watson Academic Committee Chair | OfficerTrustee | 2 | $0 |
Donna Anthony Finance Chair Until Dec. 2022, Then Board Member | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Busy Bee Environment Services Building Maintenance | 6/29/23 | $388,349 |
Edops Accounting, Hr And Bid | 6/29/23 | $139,626 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,029,047 |
| All other contributions, gifts, grants, and similar amounts not included above | $323,074 |
| Noncash contributions included in lines 1a–1f | $20,750 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,352,121 |
| Total Program Service Revenue | $9,831,319 |
| Investment income | $4,181 |
| 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 | $11,187,621 |
| 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. | $519,431 |
| Compensation of current officers, directors, key employees. | $50,346 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,233,680 |
| Pension plan accruals and contributions | $151,172 |
| Other employee benefits | $459,858 |
| Payroll taxes | $472,539 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,354 |
| Fees for services: Accounting | $180,284 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $116,127 |
| Advertising and promotion | $0 |
| Office expenses | $113,317 |
| Information technology | $65,729 |
| Royalties | $0 |
| Occupancy | $980,752 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $248,247 |
| Interest | $747,821 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $957,241 |
| Insurance | $108,988 |
| All other expenses | $0 |
| Total functional expenses | $11,167,346 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $90,959 |
| Savings and temporary cash investments | $2,837,803 |
| Pledges and grants receivable | $671,555 |
| Accounts receivable, net | $1,160 |
| 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 | $143,622 |
| Net Land, buildings, and equipment | $17,871,268 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $30,162 |
| Total assets | $21,646,529 |
| Accounts payable and accrued expenses | $226,231 |
| Grants payable | $0 |
| Deferred revenue | $43 |
| 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 | $15,138,870 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $26,112 |
| Total liabilities | $15,391,256 |
| Net assets without donor restrictions | $6,250,273 |
| Net assets with donor restrictions | $5,000 |
| 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 | $21,646,529 |