Westminster Academy
- Assets
- $6.6m
- Revenue
- $6.7m
- Investments
- $0.0
- Employees
- 136
- Location
- Memphis, TN
- Founding
- 08/1996
- Data as of
- 06/2021
- EIN
- 62-1622756
Organization Overview
Westminster Academy is located in Memphis, TN. The organization was established in 1996. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 06/2021, Westminster Academy employed 136 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Westminster 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 06/2021, Westminster Academy generated $6.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.8% each year. All expenses for the organization totaled $6.1m during the year ending 06/2021. While expenses have increased by 8.0% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE CLASSICAL CHRISTIAN EDUCATION TO STUDENTS IN GRADES JUNIOR KINDERGARTEN THROUGH 12
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE EDUCATIONAL SERVICES TO STUDENTS IN GRADES JUNIOR KINDERGARTEN THROUGH 12.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ralph Janikowsky Headmaster | Officer | 40 | $130,819 |
Taylor Moore CFO | Officer | 40 | $0 |
Buddy Mcdaniel Director | Trustee | 2 | $0 |
Mark Mckelroy Secretary | Trustee | 2 | $0 |
Jay Vaughn Director | Trustee | 2 | $0 |
Diane Brower Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Health Equity Inc Health Savings | 6/29/21 | $107,769 |
Ridgeway Baptist Church Rent | 6/29/21 | $312,179 |
Tiaa Wealth Management | 6/29/21 | $127,932 |
Aetna Health Insurance | 6/29/21 | $301,855 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $352,426 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $352,426 |
| Total Program Service Revenue | $5,675,259 |
| Investment income | $38,054 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $5,049 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,653,044 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,133,048 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $204,271 |
| Compensation of current officers, directors, key employees. | $152,271 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,788,570 |
| Pension plan accruals and contributions | $69,099 |
| Other employee benefits | $314,229 |
| Payroll taxes | $221,028 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,756 |
| Fees for services: Accounting | $13,775 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $36,230 |
| Office expenses | $0 |
| Information technology | $51,148 |
| Royalties | $0 |
| Occupancy | $280,924 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $33,593 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $40,478 |
| Insurance | $24,411 |
| All other expenses | $31,508 |
| Total functional expenses | $6,113,466 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,875,754 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,838,259 |
| 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 | $6,432 |
| Net Land, buildings, and equipment | $493,757 |
| Investments—publicly traded securities | $391,121 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,605,323 |
| Accounts payable and accrued expenses | $248,763 |
| Grants payable | $0 |
| Deferred revenue | $4,293,948 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $4,542,711 |
| Net assets without donor restrictions | $1,743,533 |
| Net assets with donor restrictions | $319,079 |
| 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 | $6,605,323 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Westminster Academy has recieved totaling $92,623.
| Awarding Organization | Amount |
|---|---|
Bellevue Foundation Inc Cordova, TN PURPOSE: GENERAL SUPPORT | $37,500 |
Christian Community Foundation Of Memphis And The Mid-South Inc Memphis, TN PURPOSE: PROGRAM SUPPORT | $24,200 |
Community Foundation Of Greater Memphis Inc Memphis, TN PURPOSE: GENERAL OPERATIONAL SUPPORT | $18,500 |
T Rowe Price Program For Charitable Giving Inc Baltimore, MD PURPOSE: GENERAL OPERATING | $11,833 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $590 |
Endowment Analysis
| Beg. Balance | $200,502 |
| Earnings | $29,243 |
| Net Contributions | $12,880 |
| Other Expense | $2,718 |
| Ending Balance | $239,907 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Christ School Inc Arden, NC | $45,623,697 | $22,399,762 |
Lexington School Inc Lexington, KY | $82,981,335 | $20,273,926 |
Westminster Christian Academy Association Town Country, MO | $72,930,151 | $20,133,441 |
Foxcroft School Middleburg, VA | $142,226,453 | $10,560,576 |
Thaden School Bentonville, AR | $79,028,915 | $15,891,102 |
St Davids School Raleigh, NC | $32,628,531 | $17,520,873 |
Barstow School Kansas City, MO | $36,041,263 | $20,616,227 |
Academics Plus Charter Schools Inc Maumelle, AR | $7,409,476 | $15,799,644 |
Randolph Macon Academy Front Royal, VA | $36,335,018 | $14,186,434 |
Webb School Bell Buckle, TN | $70,401,090 | $18,551,010 |
Chatham Hall Chatham, VA | $93,224,098 | $20,472,226 |
American Hebrew Academy Inc Greensboro, NC | $66,328,577 | $16,098,225 |