Civic Intelligence

Monument Academy Foundation

EIN 51-0506848 • 501(c)3 • Monument, CO

Profile

See Schedule OThe Corporation is organized and shall be operated exclusively for educational and charitable purposes within the meaning of section 501 (c)(3) of the Internal Revenue Service Code, and specifically for the purpose of leasing or holding title to real and/or personal property.

1150 Village Ridge PointMonument, CO 80132

www.monumentacademy.net

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

97th percentile

1.27x

Higher debt load relative to assets than 97% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

97th percentile

14.79x

Higher debt load relative to revenue than 97% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

22nd percentile

-6.4%

Higher net margin than 22% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

24th percentile

-2.3%

Faster asset growth than 24% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

36th percentile

1.3%

Faster revenue growth than 36% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Assets

Down

$22,252,981

Down $528,383 (-2.3%) from 2023

Liabilities

Down

$28,282,354

Down $406,688 (-1.4%) from 2023

Net Assets

Down

-$6,029,373

Down $121,695 (-2.1%) from 2023

Revenue

Up

$1,912,792

Up $23,937 (+1.3%) from 2023

Expenses

Down

$2,034,487

Down $185,007 (-8.3%) from 2023

Net Income

Up

-$121,695

Up $208,944 (+63%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$40M$30M$20M$10M$0-$10MAssets 2012: $7,645Liabilities 2012: $02012Assets 2013: $7,768Liabilities 2013: $02013Assets 2014: $7,765Liabilities 2014: $02014Assets 2015: $1,767Liabilities 2015: $02015Assets 2016: $1,770Liabilities 2016: $02016Assets 2017: $1,772Liabilities 2017: $02017Assets 2018: $1,773Liabilities 2018: $02018Assets 2019: $118,574Liabilities 2019: $116,816Net Assets 2019: $1,7582019Assets 2020: $29,477,598Liabilities 2020: $31,237,923Net Assets 2020: -$1,760,3252020Assets 2021: $24,639,439Liabilities 2021: $28,950,000Net Assets 2021: -$4,310,5612021Assets 2022: $23,372,961Liabilities 2022: $28,950,000Net Assets 2022: -$5,577,0392022Assets 2023: $22,781,364Liabilities 2023: $28,689,042Net Assets 2023: -$5,907,6782023Assets 2024: $22,252,981Liabilities 2024: $28,282,354Net Assets 2024: -$6,029,3732024

Highlighted filing

2024

Assets$22,252,981
Liabilities$28,282,354
Net Assets-$6,029,373

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$4.0M$2.0M$0-$2.0M-$4.0MRevenue 2012: $0Expenses 2012: $1,100Net Income 2012: -$1,1002012Revenue 2013: $398Expenses 2013: $275Net Income 2013: $1232013Revenue 2014: $7Expenses 2014: $10Net Income 2014: -$32014Revenue 2015: $2Expenses 2015: $6,000Net Income 2015: -$5,9982015Revenue 2016: $3Expenses 2016: $0Net Income 2016: $32016Revenue 2017: $2Expenses 2017: $0Net Income 2017: $22017Revenue 2018: $2Expenses 2018: $2Net Income 2018: $02018Expenses 2019: $152019Revenue 2020: $333,833Expenses 2020: $2,095,916Net Income 2020: -$1,762,0832020Revenue 2021: $4,989Expenses 2021: $2,555,225Net Income 2021: -$2,550,2362021Revenue 2022: $728,565Expenses 2022: $1,995,043Net Income 2022: -$1,266,4782022Revenue 2023: $1,888,855Expenses 2023: $2,219,494Net Income 2023: -$330,6392023Revenue 2024: $1,912,792Expenses 2024: $2,034,487Net Income 2024: -$121,6952024

Highlighted filing

2024

Revenue$1,912,792
Expenses$2,034,487
Net Income-$121,695

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Nov 6, 2024
Return Version
2023v5.1
Gross Receipts
$1,912,792
Mission and Program Overview

Mission

See Schedule OThe Corporation is organized and shall be operated exclusively for educational and charitable purposes within the meaning of section 501 (c)(3) of the Internal Revenue Service Code, and specifically for the purpose of leasing or holding title to real and/or personal property.

The Corporation is organized and shall be operated exclusively for educational and charitable purposes within the meaning of section 501 (c)(3) of the Internal Revenue Service Code, and specifically for the purpose of leasing or holding title to real and/or personal property.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$21,648,967$21,105,661▼ $543,306
Savings and Temporary Cash Investments$1,130,639$1,145,545▲ $14,906
Cash and Non-Interest-Bearing Accounts$1,758$1,775▲ $17
Total Assets$22,781,364$22,252,981▼ $528,383
Liabilities
Tax Exempt Bond Liabilities$28,570,000$28,165,000▼ $405,000
Accounts Payable and Accrued Expenses$119,042$117,354▼ $1,688
Total Liabilities$28,689,042$28,282,354▼ $406,688
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,013,355$1,029,966▲ $16,611
Net Assets Without Donor Restrictions$-6,921,033$-7,059,339▼ $138,306
Total Net Assets Fund Balance$-5,907,678$-6,029,373▼ $121,695
Total Liabilities and Net Assets / Fund Balance$22,781,364$22,252,981▼ $528,383

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$19,559,001$2,173,223$21,732,224
Land$1,546,660-$1,546,660
Compensation and Service Providers

Employees

NameTitleOtherTotal
Collin VinchattlePrincipal and Executive Director$116,485$116,485

Board Members and Trustees

NameTitle
Chris DolePresident
Craig CarleDirector
Melanie StropDirector
Marc McWilliamsSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,833,479
Investment Income
$79,313
Other Revenue
$0
Change in Net Assets
$-121,695
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,034,487
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$1,426,812--$1,426,812
Depreciation Depletion$543,306--$543,306
Other Expenses$3,404--$3,404
Total Functional Expenses$2,034,487$0$0$2,034,487
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

Bond Issues

BondIssuerIssuedIssue PricePurpose
APublic Finance Authority2019-07-09$28,725,000Construction of High School

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$28,725,000-$560,000$570,140

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 8B

The organization had no committees with authority to act on behalf of the governing body.

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

The form 990 is prepared by the organization's public accounting firm based on information provided by the management. Once a draft of the filing is available, copies of form 990 are duistributed to all board members for review via email. proior to filing.

Form 990, Part VI, Section B, line 12C

The bylaws state that any responsible person shall immediately inform the board of any potential conflicts of interest. The board then has the right to approve or deny the transaction. If the conflict of interest involved a board member the finance team and board of directors at monument academy, a supported organization, shall support the building corporation with financial oversight. Potential conflicts of interest are discussed at the board meetings and documented in the meeting minutes.

Form 990, Part VI, Section C, line 19

The Organization makes its governing documents, conflicts of interest policy and financial statements available to the public through its website and upon request.

Filing and Contact Details

Filer

Filer Name
Monument Academy Foundation
EIN
51-0506848
Phone
7194811950
Address
1150 Village Ridge Point, Monument, CO 80132

Signing Officer

Name
Collin Vinchattle
Title
Principal and Executive Director
Phone
7194811950
Signed
2024-11-06
Discuss with paid preparer
No

Organization Details

Principal Officer
Collin Vinchattle
Formed
2004
Legal Domicile
Co
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
5

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 1:

The school follows a modified accrual method of accounting as prescribed by the Colorado Department of Education. The school-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Grants and similar items are recognized when all eligibility requirements imposed by the provider have been met.

Form 990, Part XII, Line 2C:

The process for oversight and selection of an independent accountant has not change from the prior year.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0Construction of High School
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd01
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalExpendituresAmt027245235
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd01
IRS990ScheduleK/TaxExemptBondsProceedsGrp/InReserveFundAmt0909625
IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt0570140
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxableBondsInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxExemptBondsInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RetiredAmt0560000
IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt028725000
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The organization had no committees with authority to act on behalf of the governing body.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The form 990 is prepared by the organization's public accounting firm based on information provided by the management. Once a draft of the filing is available, copies of form 990 are duistributed to all board members for review via email. proior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The bylaws state that any responsible person shall immediately inform the board of any potential conflicts of interest. The board then has the right to approve or deny the transaction. If the conflict of interest involved a board member the finance team and board of directors at monument academy, a supported organization, shall support the building corporation with financial oversight. Potential conflicts of interest are discussed at the board meetings and documented in the meeting minutes.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Organization makes its governing documents, conflicts of interest policy and financial statements available to the public through its website and upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The school follows a modified accrual method of accounting as prescribed by the Colorado Department of Education. The school-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Grants and similar items are recognized when all eligibility requirements imposed by the provider have been met.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The process for oversight and selection of an independent accountant has not change from the prior year.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part XII, Line 1:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part XII, Line 2c:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0Monument Academy
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Monument Academy Charter School
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1Monument Academy Building Corporation
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0270014128
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1261401850
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(c)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501(c)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0CO
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1CO
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0School
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1Owns and leases school facilities to Monument Academy
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0Line 2
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt1Line 12b, II
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt01150 Village Ridge Point
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt11150 Village Ridge Point
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Monument
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1Monument
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0CO
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd1CO
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd080132
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd180132
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd01
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt01833479
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0Fair Market Value
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0Monument Academy Charter School
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0J
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt028570000
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt028165000
IRS990/TaxExemptBondsInd01
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt022781364
IRS990/TotalAssetsEOYAmt022252981
IRS990/TotalAssetsGrp/BOYAmt022781364
IRS990/TotalAssetsGrp/EOYAmt022252981
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02034487
IRS990/TotalFunctionalExpensesGrp/TotalAmt02034487
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt028689042
IRS990/TotalLiabilitiesEOYAmt028282354
IRS990/TotalLiabilitiesGrp/BOYAmt028689042
IRS990/TotalLiabilitiesGrp/EOYAmt028282354
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-5907678
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-6029373
IRS990/TotalOtherCompensationAmt031846
IRS990/TotalProgramServiceExpensesAmt02034487
IRS990/TotalProgramServiceRevenueAmt01833479
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt079313
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01833479
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01912792
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt022781364
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt022252981
IRS990/TotReportableCompRltdOrgAmt084639
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01150 Village Ridge Point
IRS990/USAddress/CityNm0Monument
IRS990/USAddress/StateAbbreviationCd0CO
IRS990/USAddress/ZIPCd080132
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0www.monumentacademy.net
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd00
ReturnHeader/BusinessOfficerGrp/PersonNm0Collin Vinchattle
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Principal and Executive Director
ReturnHeader/BusinessOfficerGrp/PhoneNum07194811950
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-06
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Monument Academy Foundation
ReturnHeader/Filer/BusinessNameControlTxt0MONU
ReturnHeader/Filer/EIN0510506848
ReturnHeader/Filer/PhoneNum07194811950
ReturnHeader/Filer/USAddress/AddressLine1Txt01150 Village Ridge Point
ReturnHeader/Filer/USAddress/CityNm0Monument
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CO

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