Civic Intelligence

Grand Peak Academy

990 • Fiscal year 2023 • EIN 26-1845671

Jul 01, 2022 to Jun 30, 2023 • Filed on Jan 15, 2024

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

96th percentile

1.13x

Higher debt load relative to assets than 96% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

81st percentile

0.85x

Higher debt load relative to revenue than 81% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Net Margin

66th percentile

12%

Higher net margin than 66% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Asset Growth

79th percentile

23%

Faster asset growth than 79% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

43rd percentile

2.5%

Faster revenue growth than 43% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets96th percentile

Assets

Up

$5,300,651

Up $994,111 (+23%) from 2022

Net Assets

Up

-$670,197

Up $1,131,614 (+63%) from 2022

Liabilities

Down

$5,970,848

Down $137,503 (-2.3%) from 2022

Revenue And Expenses
Liabilities / Revenue81st percentileNet Margin66th percentile

Revenue

Up

$7,039,903

Up $173,217 (+2.5%) from 2022

Expenses

Up

$6,169,603

Up $1,439,670 (+30%) from 2022

Net Income

Down

$870,300

Down $1,266,453 (-59%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth79th 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

2023

Assets$5,300,651
Liabilities$5,970,848
Net Assets-$670,197
Open 2023 Filing

Operations Trend

Revenue Growth43rd 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

2023

Revenue$7,039,903
Expenses$6,169,603
Net Income$870,300
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Jan 15, 2024
Return Version
2022v5.0
Gross Receipts
$7,039,903
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$2,803,399$3,616,844▲ $813,445
Accounts Receivable$186,485$280,798▲ $94,313
Land, Buildings, and Equipment, Net$91,097$160,891▲ $69,794
Prepaid Expenses and Deferred Charges$6,033$53,141▲ $47,108
Pledges and Grants Receivable$71,005$30,224▼ $40,781
Total Assets$4,306,540$5,300,651▲ $994,111
Other Assets Total$1,148,521$1,158,753▲ $10,232
Liabilities
Other Liabilities$5,858,840$5,855,596▼ $3,244
Accounts Payable and Accrued Expenses$249,511$115,252▼ $134,259
Total Liabilities$6,108,351$5,970,848▼ $137,503
Net Assets / Fund Balance
Net Assets With Donor Restrictions$229,000$242,000▲ $13,000
Net Assets Without Donor Restrictions$-2,030,811$-912,197▲ $1,118,614
Total Net Assets Fund Balance$-1,801,811$-670,197▲ $1,131,614
Total Liabilities and Net Assets / Fund Balance$4,306,540$5,300,651▲ $994,111

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$92,227$4,112$96,339
Equipment$68,664$3,468$72,132
Other Assets Org$1,158,753--
Compensation and Service Providers
Top Officer Pay22nd percentile

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
$591,833
Program Service Revenue
$6,196,958
Investment Income
$16,740
Other Revenue
$234,372
All Other Contributions
$18,232
Change in Net Assets
$870,300

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,008,584
Revenue Not Reported on Financial Statements
$31,319
Revenue Not Reported on Form 990
$1,259,704
Other Revenue Adjustments
$31,319
Total Revenue per Audited Statements
$8,268,288
Total Revenue per Form 990
$7,039,903
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,156,979
Salaries, Compensation, and Employee Benefits$3,012,624
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,048,309$227,590-$2,275,899
Occupancy$1,295,207$228,566-$1,523,773
Pension Plan Contributions$340,954$37,884-$378,838
Other Employee Benefits$293,394$32,599-$325,993
Fees for Services Other-$116,750-$116,750
Insurance$28,543$5,037-$33,580
Payroll Taxes$28,705$3,189-$31,894
Advertising$21,457$3,787-$25,244
Information Technology$14,667$2,588-$17,255
Other Expenses$13,783$2,432-$16,215
Fees for Services Legal-$13,709-$13,709
Fees for Services Accounting-$10,650-$10,650
All Other Expenses$4,891$864-$5,755
Depreciation Depletion$2,959$522-$3,481
Office Expenses$473$83-$556
Total Functional Expenses$5,318,306$851,297$0$6,169,603

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$7,621,619
Expenses per Audited Statements$6,169,603
Total Expenses per Form 990$6,169,603
Expenses Not Reported on Form 990$1,452,016
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$4,429,486
Deferred Inflows$1,275,163
Net OPEB Liabilities$150,947
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
2024-01-15
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
67
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 40,104. Building Corporation Rental Income 1,219,600.”

Part XI, Line 4B - Other Adjustments:

“Transfer from Building Corporation 31,319.”

Part XII, Line 2D - Other Adjustments:

“Building Corporation Investment Account Fee 1,868. Building Corporation Interest Expense 934,600. Building Corporation Depreciation Expense 515,548.”

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IRS990/PYTotalExpensesAmt04729933
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt06866686
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0870300
IRS990/RegularMonitoringEnfrcInd00
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/RentalIncomeOrLossGrp/RealAmt0159711
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt06271619
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt092227
IRS990ScheduleD/BuildingsGrp/DepreciationAmt04112
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt096339
IRS990ScheduleD/EquipmentGrp/BookValueAmt068664
IRS990ScheduleD/EquipmentGrp/DepreciationAmt03468
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt072132
IRS990ScheduleD/ExpensesNotReportedAmt01452016
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt06169603
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt01158753
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Deferred Outflows
IRS990ScheduleD/OtherExpensesIncludedAmt01452016
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01275163
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt14429486
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2150947
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Deferred Inflows
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Net Pension Liabilities
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Net OPEB Liabilities
IRS990ScheduleD/OtherRevenueAmt01259704
IRS990ScheduleD/OtherRevenuesNotIncludedAmt031319
IRS990ScheduleD/RevenueNotReportedAmt01259704
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt031319
IRS990ScheduleD/RevenueSubtotalAmt07008584
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Building Corporation Investment Income 40,104. Building Corporation Rental Income 1,219,600.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Transfer from Building Corporation 31,319.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2Building Corporation Investment Account Fee 1,868. Building Corporation Interest Expense 934,600. Building Corporation Depreciation Expense 515,548.
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/TotalBookValueLandBuildingsAmt0160891
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01158753
IRS990ScheduleD/TotalExpensesPerForm990Amt06169603
IRS990ScheduleD/TotalLiabilityAmt05855596
IRS990ScheduleD/TotalRevenuePerForm990Amt07039903
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt08268288
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt07621619
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/InvolvedAmt01219600
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt131319
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
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt04306540

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,300,651
Liabilities
$5,970,848
Net assets
-$670,197
Revenue
$7,039,903
Expenses
$6,169,603
Net income
$870,300
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