Classical Academy
- Assets
- $97.2m
- Revenue
- $39.4m
- Investments
- $0.0
- Employees
- 650
- Location
- Colorado Springs, CO
- Founding
- 02/1998
- Data as of
- 06/2021
- EIN
- 84-1349017
Organization Overview
Classical Academy is located in Colorado Springs, CO. The organization was established in 1998. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 06/2021, Classical Academy employed 650 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Classical 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, Classical Academy generated $39.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $31.5m during the year ending 06/2021. While expenses have increased by 0.6% 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
THE CLASSICAL ACADEMY EXISTS TO ASSIST PARENTS IN THEIR MISSION TO DEVELOP EXEMPLARY CITIZENS EQUIPPED WITH ANALYTICAL THINKING SKILLS, VIRTUOUS CHARACTER, AND A PASSION FOR LEARNING, ALL BUILT UPON A SOLID FOUNDATION OF KNOWLEDGE. CHARTER SCHOOL PROGRAMS THE CLASSICAL ACADEMY IS A CHARTER SCHOOL DURING THE FISCAL YEAR. THIS ORGANIZATION PROVIDED EDUCATIONAL SERVICES FOR STUDENTS IN GRADES K-12.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHARTER SCHOOL PROGRAMS-THE CLASSICAL ACADEMY IS A CHARTER SCHOOL DURING THE FISCAL YEAR. THE ORGANIZATION PROVIDED EDUCATIONAL SERVICES FOR STUDENTS IN GRADES K-12.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Russell Sojourner President | Officer | 40 | $182,751 |
Wesley Jolly Director Of Academic Services | Officer | 40 | $122,127 |
Mark Vangampleare CFO | Officer | 40 | $114,858 |
Sean Shields High School Principal | 40 | $112,142 | |
Marta Schulz Director Of Human Resources | Officer | 40 | $110,333 |
Mark Mayfield Director | Trustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Academy Sports Turf Artificial Turf | 6/29/21 | $441,780 |
Elder Construction Construction Services | 6/29/21 | $594,152 |
Haynes Mechanical Systems Hvac | 6/29/21 | $215,781 |
Msj Cleaning Cleaning Services | 6/29/21 | $255,980 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $10,181,608 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,181,608 |
| Total Program Service Revenue | $29,043,189 |
| Investment income | $43,424 |
| 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 | $39,391,484 |
| 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. | $644,785 |
| Compensation of current officers, directors, key employees. | $644,785 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $16,465,134 |
| Pension plan accruals and contributions | $3,234,344 |
| Other employee benefits | $1,732,166 |
| Payroll taxes | $232,254 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $31,927 |
| Fees for services: Accounting | $19,130 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $51,249 |
| Information technology | $441,707 |
| Royalties | $0 |
| Occupancy | $2,490,557 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,965,369 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,679,101 |
| Insurance | $215,982 |
| All other expenses | $0 |
| Total functional expenses | $31,537,482 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $23,633,972 |
| Pledges and grants receivable | $787,013 |
| Accounts receivable, net | $27,892 |
| 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 | $20,583 |
| Net Land, buildings, and equipment | $55,533,229 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,151,748 |
| Total assets | $97,154,437 |
| Accounts payable and accrued expenses | $568,066 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $45,743,962 |
| Escrow or custodial account liability | $44,694,735 |
| 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 | $22,094,970 |
| Total liabilities | $113,101,733 |
| Net assets without donor restrictions | -$15,947,296 |
| 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 | $97,154,437 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Classical Academy has recieved totaling $41,599.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $13,300 |
American Endowment Foundation Hudson, OH PURPOSE: EDUCATIONAL | $10,000 |
For Inspiration And Recognition Of Science And Technology First Manchester, NH PURPOSE: Program Support | $8,500 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $8,023 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $1,776 |
Endowment Analysis
| Beg. Balance | $302,672 |
| Earnings | -$352 |
| Ending Balance | $302,320 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Classical Academy Colorado Springs, CO | $97,154,437 | $39,391,484 |
Spectrum Healthcare Group Inc Cottonwood, AZ | $17,862,058 | $29,292,227 |
Heritage Hall Oklahoma City, OK | $29,893,924 | $20,863,460 |
United States Deputy Sheriffs Association Inc Wichita, KS | $2,971,599 | $19,654,227 |
Arizona Agribusiness & Equine Center Phoenix, AZ | $41,363,992 | $18,352,142 |
Northwest Christian School Phoenix, AZ | $14,587,608 | $15,711,697 |
Fit Kids Inc Scottsdale, AZ | $27,357,951 | $13,904,484 |
Community Action Partnership Of Mid-Nebraska Kearney, NE | $10,567,482 | $13,526,656 |
Center For Academic Success Sierra Vista, AZ | $18,278,347 | $12,993,576 |
Oklahoma Connections Academy Inc Bartlesville, OK | $2,156,539 | $12,078,246 |
Denver Scholarship Foundation Denver, CO | $33,817,323 | $13,999,484 |
Mccalls Chapel School Inc Ada, OK | $9,915,625 | $11,707,804 |