Civic Intelligence

Morgantown Learning Academy Inc

990 • Fiscal year 2023 • EIN 55-0464601

Aug 01, 2022 to Jul 31, 2023 • Filed on May 22, 2024

Organization ProfileWWW.LEARNINGACADEMY.ORG
123 Discovery PlaceMorgantown, WV 26508

(304) 296-9554

Siviq Scores

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

Liabilities / Assets

85th percentile

0.54x

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

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

84th percentile

0.67x

Higher debt load relative to revenue than 84% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

43rd percentile

1.0%

Higher net margin than 43% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

58th percentile

$80,000

Higher top officer pay than 58% of similar nonprofits.

Top officer pay equals 8.2% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

31st percentile

-1.5%

Faster asset growth than 31% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

48th percentile

5.4%

Faster revenue growth than 48% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets85th percentile

Assets

Down

$1,196,352

Down $18,535 (-1.5%) from 2022

Net Assets

Up

$545,566

Up $9,421 (+1.8%) from 2022

Liabilities

Down

$650,786

Down $27,956 (-4.1%) from 2022

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin43rd percentile

Revenue

Up

$973,572

Up $49,851 (+5.4%) from 2022

Expenses

Up

$964,151

Up $187,255 (+24%) from 2022

Net Income

Down

$9,421

Down $137,404 (-94%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth31st percentile

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

$1.5M$1.0M$500K$0-$500KAssets 2010: $1,024,395Liabilities 2010: $1,140,443Net Assets 2010: -$116,0482010Assets 2011: $1,030,235Liabilities 2011: $1,080,791Net Assets 2011: -$50,5562011Assets 2012: $987,077Liabilities 2012: $1,018,454Net Assets 2012: -$31,3772012Assets 2013: $952,240Liabilities 2013: $939,181Net Assets 2013: $13,0592013Assets 2014: $950,316Liabilities 2014: $878,590Net Assets 2014: $71,7262014Assets 2015: $996,297Liabilities 2015: $817,953Net Assets 2015: $178,3442015Assets 2016: $895,906Liabilities 2016: $737,294Net Assets 2016: $158,6122016Assets 2017: $829,544Liabilities 2017: $698,455Net Assets 2017: $131,0892017Assets 2018: $769,432Liabilities 2018: $616,110Net Assets 2018: $153,3222018Assets 2019: $812,400Liabilities 2019: $542,557Net Assets 2019: $269,8432019Assets 2020: $1,053,852Liabilities 2020: $736,845Net Assets 2020: $317,0072020Assets 2021: $1,103,045Liabilities 2021: $713,725Net Assets 2021: $389,3202021Assets 2022: $1,214,887Liabilities 2022: $678,742Net Assets 2022: $536,1452022Assets 2023: $1,196,352Liabilities 2023: $650,786Net Assets 2023: $545,5662023Assets 2024: $1,152,773Liabilities 2024: $600,095Net Assets 2024: $552,6782024

Highlighted filing

2023

Assets$1,196,352
Liabilities$650,786
Net Assets$545,566
Open 2023 Filing

Operations Trend

Revenue Growth48th percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2010: $646,8352010Expenses 2011: $645,3972011Revenue 2012: $670,386Expenses 2012: $651,207Net Income 2012: $19,1792012Revenue 2013: $631,112Expenses 2013: $586,676Net Income 2013: $44,4362013Revenue 2014: $623,724Expenses 2014: $565,057Net Income 2014: $58,6672014Revenue 2015: $743,682Expenses 2015: $637,064Net Income 2015: $106,6182015Revenue 2016: $664,008Expenses 2016: $683,740Net Income 2016: -$19,7322016Revenue 2017: $689,931Expenses 2017: $717,454Net Income 2017: -$27,5232017Revenue 2018: $705,940Expenses 2018: $683,706Net Income 2018: $22,2342018Revenue 2019: $782,291Expenses 2019: $665,772Net Income 2019: $116,5192019Revenue 2020: $748,159Expenses 2020: $700,995Net Income 2020: $47,1642020Revenue 2021: $741,000Expenses 2021: $668,687Net Income 2021: $72,3132021Revenue 2022: $923,721Expenses 2022: $776,896Net Income 2022: $146,8252022Revenue 2023: $973,572Expenses 2023: $964,151Net Income 2023: $9,4212023Revenue 2024: $1,018,260Expenses 2024: $1,011,148Net Income 2024: $7,1122024

Highlighted filing

2023

Revenue$973,572
Expenses$964,151
Net Income$9,421
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Aug 1, 2022 to Jul 31, 2023
Signed
May 22, 2024
Return Version
2022v5.0
Gross Receipts
$981,295
Mission and Program Overview

Mission

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$676,221$666,427▼ $9,794
Rtn Earn Endowment Incm Other Fnds$536,145$545,566▲ $9,421
Cash and Non-Interest-Bearing Accounts$524,517$379,929▼ $144,588
Savings and Temporary Cash Investments-$140,036-
Intangible Assets$9,811$9,005▼ $806
Accounts Receivable$1,578$655▼ $923
Total Assets$1,214,887$1,196,352▼ $18,535
Other Assets Total$2,760$300▼ $2,460
Liabilities
Mortgage Notes Payable Secured by Investment Property$627,579$587,623▼ $39,956
Accounts Payable and Accrued Expenses$51,163$63,163▲ $12,000
Total Liabilities$678,742$650,786▼ $27,956
Net Assets / Fund Balance
Total Net Assets Fund Balance$536,145$545,566▲ $9,421
Total Liabilities and Net Assets / Fund Balance$1,214,887$1,196,352▼ $18,535

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$518,624$481,102-
Other Land Buildings$7,378$209,981-
Land$140,425--
Compensation and Service Providers
Top Officer Pay58th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Evelyn WardDirectorFT$80,000$80,000
Revenue and Support

Revenue Composition

Contributions and Grants
$215,514
Program Service Revenue
$756,577
Investment Income
$36
Other Revenue
$1,445
All Other Contributions
$83,514
Change in Net Assets
$9,421
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$681,983
Other Expenses$282,168
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$432,075$107,235$0$539,310
Current Officers, Directors, Trustees, and Key Employees$0$80,000$0$80,000
Depreciation Depletion$53,327$5,924$0$59,251
Payroll Taxes$36,891$15,986$0$52,877
Interest$36,056$4,006$0$40,062
Insurance$27,640$3,071$0$30,711
All Other Expenses$17,160$9,335$0$26,495
Occupancy$23,843$2,649$0$26,492
Pension Plan Contributions$6,834$2,962$0$9,796
Fees for Services Accounting$7,606$845$0$8,451
Other Expenses$7,102$0$0$7,102
Office Expenses$3,574$397$0$3,971
Fees for Services Legal$3,130$348$0$3,478
Advertising$125$0$0$125
Total Functional Expenses$726,023$238,128$0$964,151
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$10,570
Fundraising Direct Expenses$6,328
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Morgantown Learning Academy Inc
EIN
55-0464601
Phone
3042969554
Address
123 DISCOVERY PLACE, MORGANTOWN, WV 26508

Signing Officer

Name
Evelyn Ward
Title
Director
Phone
3042969554
Signed
2024-05-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Evelyn Ward
Formed
1967
Legal Domicile
Wv
Voting Board Members
1
Independent Board Members
1
Employees
39
Volunteers
30

Preparer

Firm
Maloney & Associates Pllc
Address
PO BOX 520, KINGWOOD, WV 26537
Preparer
Pamela J Schwer CPA
Phone
3043292752
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“Form 990 is reviewed by the officer/directors.”

Pt VI, Line 19

“Morgantown learning academy makes its governing documents, and financial statements available upon request at the physical address of the corporation.”

Other

“Organization's mission: morgantown learning academy's mission is to provide a non-demoninational, child-centered education for preschool through middle school aged children which values self-motivation, self-reliance, and the ability to critically evaluate tasks.”

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IRS990/Desc0THE PURPOSE OF THE MORGANTOWN LEARNING ACADEMY IS TO PROVIDE AN ALTERNATIVE EDUCATION OF THE HIGHEST QUALITY FOR CHILDREN OF ALL RACIAL, CULTURAL, RELIGIOUS, AND ECONOMIC BACKGROUNDS.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS REVIEWED BY THE OFFICER/DIRECTORS.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ORGANIZATION'S MISSION: MORGANTOWN LEARNING ACADEMY'S MISSION IS TO PROVIDE A NON-DEMONINATIONAL, CHILD-CENTERED EDUCATION FOR PRESCHOOL THROUGH MIDDLE SCHOOL AGED CHILDREN WHICH VALUES SELF-MOTIVATION, SELF-RELIANCE, AND THE ABILITY TO CRITICALLY EVALUATE TASKS.
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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$1,196,352
Liabilities
$650,786
Net assets
$545,566
Revenue
$973,572
Expenses
$964,151
Net income
$9,421
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.15$0.60$0.55$1.02$1.01$0.01
2023Detailed filing. Detailed filing data is available for this year.$1.20$0.65$0.55$0.97$0.96$0.01
2022Detailed filing. Detailed filing data is available for this year.$1.21$0.68$0.54$0.92$0.78$0.15
2021Detailed filing. Detailed filing data is available for this year.$1.10$0.71$0.39$0.74$0.67$0.07
2020Detailed filing. Detailed filing data is available for this year.$1.05$0.74$0.32$0.75$0.70$0.05
2019Detailed filing. Detailed filing data is available for this year.$0.81$0.54$0.27$0.78$0.67$0.12
2018Summary only. Only limited summary data is available for this year.$0.77$0.62$0.15$0.71$0.68$0.02
2017Summary only. Only limited summary data is available for this year.$0.83$0.70$0.13$0.69$0.72$0.03
2016Summary only. Only limited summary data is available for this year.$0.90$0.74$0.16$0.66$0.68$0.02
2015Summary only. Only limited summary data is available for this year.$1.00$0.82$0.18$0.74$0.64$0.11
2014Summary only. Only limited summary data is available for this year.$0.95$0.88$0.07$0.62$0.57$0.06
2013Summary only. Only limited summary data is available for this year.$0.95$0.94$0.01$0.63$0.59$0.04
2012Summary only. Only limited summary data is available for this year.$0.99$1.02$0.03$0.67$0.65$0.02
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.03$1.08$0.05$0.65
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.02$1.14$0.12$0.65