Civic Intelligence

Grand Peak Academy

990 • Fiscal year 2021 • EIN 26-1845671

Jul 01, 2020 to Jun 30, 2021 • Filed on Oct 29, 2021

Organization Profilewww.grandpeakacademy.org
7036 Cowpoke RoadColorado Springs, CO 80908

(719) 495-7360

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

99th percentile

1.97x

Higher debt load relative to assets than 99% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

85th percentile

1.20x

Higher debt load relative to revenue than 85% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Net Margin

78th percentile

36%

Higher net margin than 78% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Top Officer Pay

44th percentile

$106,521

Higher top officer pay than 44% of similar nonprofits.

Top officer pay equals 1.6% of source-year revenue.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Balance Sheet
Liabilities / Assets99th percentile

Assets

$4,040,575

No earlier filing loaded for comparison.

Net Assets

-$3,938,564

No earlier filing loaded for comparison.

Liabilities

$7,979,139

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin78th percentile

Revenue

$6,638,558

No earlier filing loaded for comparison.

Expenses

$4,274,843

No earlier filing loaded for comparison.

Net Income

$2,363,715

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$10M$5.0M$0-$5.0MAssets 2021: $4,040,575Liabilities 2021: $7,979,139Net Assets 2021: -$3,938,5642021Assets 2022: $4,306,540Liabilities 2022: $6,108,351Net Assets 2022: -$1,801,8112022Assets 2023: $5,300,651Liabilities 2023: $5,970,848Net Assets 2023: -$670,1972023Assets 2024: $6,928,202Liabilities 2024: $6,802,657Net Assets 2024: $125,5452024Assets 2025: $6,826,171Liabilities 2025: $6,459,913Net Assets 2025: $366,2582025

Highlighted filing

2021

Assets$4,040,575
Liabilities$7,979,139
Net Assets-$3,938,564
Open 2021 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$10M$5.0M$0Revenue 2021: $6,638,558Expenses 2021: $4,274,843Net Income 2021: $2,363,7152021Revenue 2022: $6,866,686Expenses 2022: $4,729,933Net Income 2022: $2,136,7532022Revenue 2023: $7,039,903Expenses 2023: $6,169,603Net Income 2023: $870,3002023Revenue 2024: $8,244,528Expenses 2024: $7,448,786Net Income 2024: $795,7422024Revenue 2025: $8,401,613Expenses 2025: $8,017,231Net Income 2025: $384,3822025

Highlighted filing

2021

Revenue$6,638,558
Expenses$4,274,843
Net Income$2,363,715
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Oct 29, 2021
Return Version
2020v4.1
Gross Receipts
$6,638,558
Mission and Program Overview

Mission

The Organization is a public charter school specializing in education of students from preschool through 8th grade. The School uses a standards based curriculum incorporating the Colorade state standards, the Core Knowledge and sequence, and the Classical approach.

The Organization is a public charter school specializing in education od students from preschool through 8th grade. The School uses a standards based curriculum incorporating the Colorado state standards, the Core Knowledge and sequence, and the classical approach.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,582,294$2,105,609▲ $523,315
Savings and Temporary Cash Investments$1,469,239$0▼ $1,469,239
Land, Buildings, and Equipment, Net$18,629,178$5,101▼ $18,624,077
Accounts Receivable$170,000$703▼ $169,297
Total Assets$22,426,787$4,040,575▼ $18,386,212
Other Assets Total$576,076$1,929,162▲ $1,353,086
Liabilities
Other Liabilities$29,600,119$7,938,972▼ $21,661,147
Accounts Payable and Accrued Expenses$607,830$40,167▼ $567,663
Total Liabilities$30,207,949$7,979,139▼ $22,228,810
Net Assets / Fund Balance
Net Assets With Donor Restrictions$-838,582$185,000▲ $1,023,582
Net Assets Without Donor Restrictions$-6,942,580$-4,123,564▲ $2,819,016
Total Net Assets Fund Balance$-7,781,162$-3,938,564▲ $3,842,598
Total Liabilities and Net Assets / Fund Balance$22,426,787$4,040,575▼ $18,386,212

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$5,101$1,021$6,122
Other Assets Org$1,929,162--
Compensation and Service Providers
Top Officer Pay44th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Scott HunterFormer PrincipalFT$95,689$10,832$106,521
Melissa MaldonadoFormer Assistant PrincipalFT$51,515$9,981$61,496
Nicole ParkerPrincipalFT$34,316$14,595$48,911

Board Members and Trustees

NameTitle
Christopher DempseyPresident
Brandon HenryVice President
Anthony HallBoard Member
Erika CraigBoard Member
Jennifer ReishusTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$666,005
Program Service Revenue
$5,917,415
Investment Income
$331
Other Revenue
$54,807
Change in Net Assets
$2,363,715

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,638,558
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$1,684
Total Revenue per Audited Statements
$6,640,242
Total Revenue per Form 990
$6,638,558
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,111,229
Salaries, Compensation, and Employee Benefits$1,163,614
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,775,545$149,305-$1,924,850
Occupancy$1,378,484$243,262-$1,621,746
Other Employee Benefits$453,989$50,443-$504,432
Current Officers, Directors, Trustees, and Key Employees$144,135$63,993-$208,128
Information Technology$69,442$12,255-$81,697
Payroll Taxes$61,912$6,879-$68,791
Insurance$52,299$9,229-$61,528
Other Expenses$32,419$5,721-$38,140
Fees for Services Other-$27,088-$27,088
Fees for Services Legal-$22,275-$22,275
Advertising$17,428$3,075-$20,503
All Other Expenses$14,300$1,870-$16,170
Fees for Services Accounting-$9,400-$9,400
Depreciation Depletion$868$153-$1,021
Office Expenses$630$111-$741
Pension Plan Contributions$-1,539,046$-3,541-$-1,542,587
Total Functional Expenses$3,516,768$758,075$0$4,274,843

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$4,572,422
Expenses per Audited Statements$4,274,843
Total Expenses per Form 990$4,274,843
Expenses Not Reported on Form 990$297,579
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Net Pension Liabilities$5,385,859
Deferred Inflows$2,357,345
Net OPEB Liabilities$195,768
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, line 11B

“The 990 was reviewed by the Business Manager before filing.”

Form 990, Part VI, Section C, line 19

“Financial information of the organization can be obtained by contacting the school.”

Filing and Contact Details

Filer

Filer Name
Grand Peak Academy
EIN
26-1845671
Phone
7194957360
Address
7036 Cowpoke Road, Colorado Springs, CO 80908

Signing Officer

Name
Chris Dempsey
Title
President
Phone
7194957360
Signed
2021-10-29
Discuss with paid preparer
No

Organization Details

Principal Officer
Chris Dempsey
Formed
2008
Legal Domicile
Co
Voting Board Members
5
Independent Board Members
5
Employees
82
Volunteers
0

Preparer

Firm
Hoelting & Company Inc
Address
31 E Platte Ave Ste 300, Colorado Springs, CO 80903
Preparer
Thomas G Sistare
Phone
7196301091
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

“To report the Building Corporation as a separate related entity. 1,478,883.”

Form 990, Part XII, Line 2C:

“The finance committee oversees audit services and selection of independent auditors. This has not changed from the prior year.”

Form 990, Part III, Line 4D - All Other Accomplishments

“Education of students in Preschool through 8th grade.”

Financial Statement Notes

Part XI, Line 2D - Other Adjustments:

“Net building corporation revenue”

Part XII, Line 2D - Other Adjustments:

“Net building corporation expenses”

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IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt02363715
IRS990/RegularMonitoringEnfrcInd00
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt05972222
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01469239
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt05101
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01021
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt06122
IRS990ScheduleD/ExpensesNotReportedAmt0297579
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt04274843
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt01929162
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Deferred Outflows
IRS990ScheduleD/OtherExpensesIncludedAmt0297579
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02357345
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt15385859
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2195768
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Deferred Inflows
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Net Pension Liabilities
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Net OPEB Liabilities
IRS990ScheduleD/OtherRevenueAmt01684
IRS990ScheduleD/RevenueNotReportedAmt01684
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt06638558
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Net building corporation revenue
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Net building corporation expenses
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part XI, Line 2d - Other Adjustments:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part XII, Line 2d - Other Adjustments:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05101
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01929162
IRS990ScheduleD/TotalExpensesPerForm990Amt04274843
IRS990ScheduleD/TotalLiabilityAmt07938972
IRS990ScheduleD/TotalRevenuePerForm990Amt06638558
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt06640242
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt04572422
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0The policies are made available on the School's website and are distributed to students and parents during the registration process.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1The School receives PPR funding and other grants from CDE and the local School District.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Part I, Line 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Part I, Line 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The 990 was reviewed by the Business Manager before filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Financial information of the organization can be obtained by contacting the school.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2To report the Building Corporation as a separate related entity. 1,478,883.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The finance committee oversees audit services and selection of independent auditors. This has not changed from the prior year.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Education of students in Preschool through 8th grade.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part XI, line 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part XII, Line 2c:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part III, Line 4d - All Other Accomplishments
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd01
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0Grand Peak Academy
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Forest Meadows Building Corporation
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0830907898
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(c)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0CO
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Rental of facilities and equipment
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0Line 12b, II
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt06464 Peterson Road
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Colorado Springs
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0CO
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd080923
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd01
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt01405499
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0Fair market value
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0Grand Peak Academy
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0K
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt022426787
IRS990/TotalAssetsEOYAmt04040575
IRS990/TotalAssetsGrp/BOYAmt022426787
IRS990/TotalAssetsGrp/EOYAmt04040575
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0666005

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,040,575
Liabilities
$7,979,139
Net assets
-$3,938,564
Revenue
$6,638,558
Expenses
$4,274,843
Net income
$2,363,715
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.83$6.46$0.37$8.40$8.02$0.38
2024Detailed filing. Detailed filing data is available for this year.$6.93$6.80$0.13$8.24$7.45$0.80
2023Detailed filing. Detailed filing data is available for this year.$5.30$5.97$0.67$7.04$6.17$0.87
2022Detailed filing. Detailed filing data is available for this year.$4.31$6.11$1.80$6.87$4.73$2.14
2021Detailed filing. Detailed filing data is available for this year.$4.04$7.98$3.94$6.64$4.27$2.36