Civic Intelligence

Grand Peak Academy

990 • Fiscal year 2022 • EIN 26-1845671

Jul 01, 2021 to Jun 30, 2022 • Filed on Nov 01, 2022

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

98th percentile

1.42x

Higher debt load relative to assets than 98% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

82nd percentile

0.89x

Higher debt load relative to revenue than 82% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

80th percentile

31%

Higher net margin than 80% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

32nd percentile

$80,262

Higher top officer pay than 32% of similar nonprofits.

Top officer pay equals 1.2% of source-year revenue.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Asset Growth

63rd percentile

6.6%

Faster asset growth than 63% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

48th percentile

3.4%

Faster revenue growth than 48% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets98th percentile

Assets

Up

$4,306,540

Up $265,965 (+6.6%) from 2021

Net Assets

Up

-$1,801,811

Up $2,136,753 (+54%) from 2021

Liabilities

Down

$6,108,351

Down $1,870,788 (-23%) from 2021

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin80th percentile

Revenue

Up

$6,866,686

Up $228,128 (+3.4%) from 2021

Expenses

Up

$4,729,933

Up $455,090 (+11%) from 2021

Net Income

Down

$2,136,753

Down $226,962 (-9.6%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth63rd percentile

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

2022

Assets$4,306,540
Liabilities$6,108,351
Net Assets-$1,801,811
Open 2022 Filing

Operations Trend

Revenue Growth48th percentile

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

2022

Revenue$6,866,686
Expenses$4,729,933
Net Income$2,136,753
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Nov 1, 2022
Return Version
2021v4.2
Gross Receipts
$6,866,686
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$2,105,609$2,803,399▲ $697,790
Accounts Receivable$703$186,485▲ $185,782
Land, Buildings, and Equipment, Net$5,101$91,097▲ $85,996
Pledges and Grants Receivable-$71,005-
Prepaid Expenses and Deferred Charges-$6,033-
Total Assets$4,040,575$4,306,540▲ $265,965
Other Assets Total$1,929,162$1,148,521▼ $780,641
Liabilities
Other Liabilities$7,938,972$5,858,840▼ $2,080,132
Accounts Payable and Accrued Expenses$40,167$249,511▲ $209,344
Mortgage Notes Payable Secured by Investment Property-$0-
Total Liabilities$7,979,139$6,108,351▼ $1,870,788
Net Assets / Fund Balance
Net Assets With Donor Restrictions$185,000$229,000▲ $44,000
Net Assets Without Donor Restrictions$-4,123,564$-2,030,811▲ $2,092,753
Total Net Assets Fund Balance$-3,938,564$-1,801,811▲ $2,136,753
Total Liabilities and Net Assets / Fund Balance$4,040,575$4,306,540▲ $265,965

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$87,219$1,855$89,074
Equipment$3,878$2,244$6,122
Other Assets Org$1,148,521--
Compensation and Service Providers
Top Officer Pay32nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Nicole ParkerPrincipalFT$63,541$16,721$80,262

Board Members and Trustees

NameTitle
Christopher DempseyPresident
Brandon HenryVice President
Anthony HallBoard Member
Jeremy RickardSecretary
Jennifer ReishusTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$681,456
Program Service Revenue
$5,618,758
Investment Income
$7,569
Other Revenue
$558,903
Change in Net Assets
$2,136,753

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,627,712
Revenue Not Reported on Financial Statements
$238,974
Revenue Not Reported on Form 990
$1,323,865
Other Revenue Adjustments
$238,974
Total Revenue per Audited Statements
$7,951,577
Total Revenue per Form 990
$6,866,686
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,379,195
Salaries, Compensation, and Employee Benefits$1,350,738
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,841,724$182,413-$2,024,137
Occupancy$1,352,755$238,721-$1,591,476
Other Employee Benefits$238,457$26,495-$264,952
Current Officers, Directors, Trustees, and Key Employees$67,052$29,674-$96,726
Fees for Services Legal-$78,847-$78,847
Information Technology$59,822$10,557-$70,379
Fees for Services Other-$43,234-$43,234
Other Expenses$36,561$6,452-$43,013
Payroll Taxes$38,683$4,298-$42,981
Insurance$23,190$4,092-$27,282
Advertising$19,417$3,426-$22,843
Fees for Services Accounting-$10,750-$10,750
Depreciation Depletion$2,617$462-$3,079
Office Expenses$660$116-$776
Pension Plan Contributions$-1,076,386$-1,672-$-1,078,058
Total Functional Expenses$3,901,053$828,880$0$4,729,933

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$6,832,727
Expenses per Audited Statements$4,729,933
Total Expenses per Form 990$4,729,933
Expenses Not Reported on Form 990$2,102,794
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$3,331,698
Deferred Inflows$2,365,954
Net OPEB Liabilities$161,188
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
2022-11-01
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
81
Volunteers
350

Preparer

Firm
Hoelting & Company Inc
Address
31 East Platte Avenue Suite 300, Colorado Springs, CO 80903
Preparer
Thomas G Sistare
Phone
7196301091
Supplemental Narrative

Additional Explanations

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:

“Building Corporation Investment Income 2,620. Building Corporation Rental Income 1,321,245.”

Part XI, Line 4B - Other Adjustments:

“Transfers from Building Corporation 238,974.”

Part XII, Line 2D - Other Adjustments:

“Building Corporation Purchased Services 528,448. Building Corporation Interest Expense 1,059,898. Building Corporation Depreciation Expense 514,448.”

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IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0666005
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0331
IRS990/PYOtherExpensesAmt03111229
IRS990/PYOtherRevenueAmt054807
IRS990/PYProgramServiceRevenueAmt05917415
IRS990/PYRevenuesLessExpensesAmt02363715
IRS990/PYSalariesCompEmpBnftPaidAmt01163614
IRS990/PYTotalExpensesAmt04274843
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt06638558
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt02136753
IRS990/RegularMonitoringEnfrcInd00
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/RentalIncomeOrLossGrp/RealAmt0193916
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt05983745
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt087219
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01855
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt089074
IRS990ScheduleD/EquipmentGrp/BookValueAmt03878
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02244
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt06122
IRS990ScheduleD/ExpensesNotReportedAmt02102794
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt04729933
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt01148521
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Deferred Outflows
IRS990ScheduleD/OtherExpensesIncludedAmt02102794
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02365954
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt13331698
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2161188
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Deferred Inflows
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Net Pension Liabilities
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Net OPEB Liabilities
IRS990ScheduleD/OtherRevenueAmt01323865
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0238974
IRS990ScheduleD/RevenueNotReportedAmt01323865
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0238974
IRS990ScheduleD/RevenueSubtotalAmt06627712
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Building Corporation Investment Income 2,620. Building Corporation Rental Income 1,321,245.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Transfers from Building Corporation 238,974.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2Building Corporation Purchased Services 528,448. Building Corporation Interest Expense 1,059,898. Building Corporation Depreciation Expense 514,448.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part XI, Line 2d - Other Adjustments:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part XI, Line 4b - Other Adjustments:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Part XII, Line 2d - Other Adjustments:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt091097
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01148521
IRS990ScheduleD/TotalExpensesPerForm990Amt04729933
IRS990ScheduleD/TotalLiabilityAmt05858840
IRS990ScheduleD/TotalRevenuePerForm990Amt06866686
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt07951577
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt06832727
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/ExplanationTxt2The finance committee oversees audit services and selection of independent auditors. This has not changed from the prior year.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Education 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 XII, Line 2c:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 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/InvolvedAmt01321245
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt1238974
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0Fair market value
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1Fair market value
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0Grand Peak Academy
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1Grand Peak Academy
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0K
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1S
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd01
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,306,540
Liabilities
$6,108,351
Net assets
-$1,801,811
Revenue
$6,866,686
Expenses
$4,729,933
Net income
$2,136,753
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