Wasatch Academy
- Assets
- $45.2m
- Revenue
- $16.2m
- Investments
- $13.4k
- Employees
- 215
- Location
- Mt Pleasant, UT
- Founding
- 10/1972
- Data as of
- 06/2023
- EIN
- 87-0290194
Organization Overview
Wasatch Academy is located in Mt Pleasant, UT. The organization was established in 1972. 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 06/2023, Wasatch Academy employed 215 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wasatch 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 06/2023, Wasatch Academy generated $16.2m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.3%) each year. All expenses for the organization totaled $17.0m during the year ending 06/2023. 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
WASATCH ACADEMY IS A NURTURING COMMUNITY EMPOWERING YOUNG PEOPLE TO DEVELOP ACADEMICALLY, SOCIALLY, EMOTIONALLY, PHYSICALLY, AND ETHICALLY, BY PREPARING THEM FOR THE OPPORTUNITY OF COLLEGE, WORK, AND A LIFETIME OF LEARNING AND CONTRIBUTING TO OUR GLOBAL SOCIETY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STUDENT EDUCATION FOR APPROXIMATELY 220 STUDENTS IN A PRIVATE PREPARATORY HIGH SCHOOL
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Roylance Trustee | Trustee | 0 | $0 |
Forest Cuch Trustee | Trustee | 0 | $0 |
Terri Mccarthy Trustee | Trustee | 0 | $0 |
Joe Porter Trustee | Trustee | 0 | $0 |
Fred Axelgard Trustee | Trustee | 0 | $0 |
Tom Peterson Trustee | Trustee | 0 | $0 |
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 | $1,915,773 |
| Noncash contributions included in lines 1a–1f | $1,198,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,915,773 |
| Total Program Service Revenue | $13,832,479 |
| Investment income | $410,623 |
| 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 | $16,158,875 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,368,691 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,016,454 |
| Compensation of current officers, directors, key employees. | $737,516 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,119,599 |
| Pension plan accruals and contributions | $177,616 |
| Other employee benefits | $992,469 |
| Payroll taxes | $430,645 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $85,249 |
| Fees for services: Accounting | $123,331 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $466,644 |
| Advertising and promotion | $234,941 |
| Office expenses | $28,936 |
| Information technology | $247,756 |
| Royalties | $0 |
| Occupancy | $1,065,894 |
| Travel | $232,958 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $53,886 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,367,352 |
| Insurance | $200,204 |
| All other expenses | $0 |
| Total functional expenses | $16,951,881 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,324,982 |
| Savings and temporary cash investments | $132,761 |
| Pledges and grants receivable | $754,099 |
| Accounts receivable, net | $0 |
| 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 | $24,619,972 |
| Investments—publicly traded securities | $17,919,898 |
| Investments—other securities | $13,400 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $422,738 |
| Total assets | $45,187,850 |
| Accounts payable and accrued expenses | $91,498 |
| Grants payable | $0 |
| Deferred revenue | $4,865,317 |
| 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 | $2,397,047 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $360,397 |
| Total liabilities | $7,714,259 |
| Net assets without donor restrictions | $28,607,977 |
| Net assets with donor restrictions | $8,865,614 |
| 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 | $45,187,850 |