Civic Intelligence

Addenbrooke Classical Academy Inc

990 • Fiscal year 2023 • EIN 80-0719145

Jul 01, 2022 to Jun 30, 2023 • Filed on Apr 23, 2025

3940 S Teller StreetLakewood, CO 80235

(303) 989-1336

Siviq Scores

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

Liabilities / Assets

97th percentile

1.17x

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

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Liabilities / Revenue

91st percentile

3.28x

Higher debt load relative to revenue than 91% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Net Margin

77th percentile

20%

Higher net margin than 77% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Top Officer Pay

9th percentile

$0

Higher top officer pay than 9% of similar nonprofits.

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

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Asset Growth

Score unavailable

No value available

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

Source year 2023

Revenue Growth

Score unavailable

No value available

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

Source year 2023

Assets

$31,091,794

No earlier filing loaded for comparison.

Net Assets

-$5,386,534

No earlier filing loaded for comparison.

Liabilities

$36,478,328

No earlier filing loaded for comparison.

Revenue

$11,138,419

No earlier filing loaded for comparison.

Expenses

$8,912,145

No earlier filing loaded for comparison.

Net Income

$2,226,274

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$40M$20M$0-$20MAssets 2023: $31,091,794Liabilities 2023: $36,478,328Net Assets 2023: -$5,386,5342023Assets 2024: $32,975,482Liabilities 2024: $38,186,542Net Assets 2024: -$5,211,0602024Assets 2025: $32,629,006Liabilities 2025: $37,317,249Net Assets 2025: -$4,688,2432025

Highlighted filing

2023

Assets$31,091,794
Liabilities$36,478,328
Net Assets-$5,386,534

Operations Trend

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

$15M$10M$5.0M$0Revenue 2023: $11,138,419Expenses 2023: $8,912,145Net Income 2023: $2,226,2742023Revenue 2024: $12,391,627Expenses 2024: $12,216,153Net Income 2024: $175,4742024Revenue 2025: $13,429,734Expenses 2025: $12,906,917Net Income 2025: $522,8172025

Highlighted filing

2023

Revenue$11,138,419
Expenses$8,912,145
Net Income$2,226,274
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Apr 23, 2025
Return Version
2022v5.0
Gross Receipts
$11,138,419
Mission and Program Overview

Mission

Addenbrooke classical academy (aca) is a tuition-free, public k-12 charter school located in lakewood, colorado, aca utilizes an intergrated model of tradition and innovation to develop free and independent thinkers through classical instructional strategies.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$25,512,299$24,458,091▼ $1,054,208
Cash and Non-Interest-Bearing Accounts$1,751,622$2,963,576▲ $1,211,954
Accounts Receivable$20,963$34,961▲ $13,998
Rtn Earn Endowment Incm Other Fnds$-7,623,211$-5,386,534▲ $2,236,677
Total Assets$30,780,333$31,091,794▲ $311,461
Other Assets Total$3,495,449$3,635,166▲ $139,717
Liabilities
Tax Exempt Bond Liabilities$24,845,000$24,385,000▼ $460,000
Other Liabilities$13,445,534$11,979,732▼ $1,465,802
Accounts Payable and Accrued Expenses$113,010$113,596▲ $586
Total Liabilities$38,403,544$36,478,328▼ $1,925,216
Net Assets / Fund Balance
Total Net Assets Fund Balance$-7,623,211$-5,386,534▲ $2,236,677
Total Liabilities and Net Assets / Fund Balance$30,780,333$31,091,794▲ $311,461

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$18,769,594$3,560,315$22,329,909
Land$5,553,000-$5,553,000
Equipment$135,497$48,099$183,596
Other Assets Org$701--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Christian SummersPresident
Sara RodriguezBoard Member
Daniel KrivoniakTrustee Dire
Gretchen ClanceyTrustee Dire
Ric NetzerExecutive Di
John ByrneSecretary
Patrick CordovaTreasurer
Michael EdlenVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$636,117
Program Service Revenue
$10,376,748
Investment Income
$53,812
Other Revenue
$71,742
All Other Contributions
$15,401
Change in Net Assets
$2,226,274

Audited Revenue Reconciliation

Revenue per Audited Statements
$11,048,924
Revenue Not Reported on Financial Statements
$89,495
Other Revenue Adjustments
$89,495
Total Revenue per Audited Statements
$11,048,924
Total Revenue per Form 990
$11,138,419
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,603,914
Salaries, Compensation, and Employee Benefits$4,308,231
Total Fundraising Expense$161
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,180,607$1,188,720-$4,369,327
Interest-$1,164,610-$1,164,610
Other Employee Benefits$822,283$326,157-$1,148,440
Depreciation Depletion-$1,061,676-$1,061,676
Other Expenses$241,027$254,669$161$254,669
All Other Expenses-$99,800-$99,800
Insurance-$85,914-$85,914
Occupancy-$54,719-$54,719
Information Technology-$23,168-$23,168
Fees for Services Legal-$6,050-$6,050
Office Expenses-$5,239-$5,239
Conferences and Meetings-$526-$526
Advertising-$302-$302
Pension Plan Contributions$-866,028$-343,508-$-1,209,536
Total Functional Expenses$4,380,291$4,531,693$161$8,912,145

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$8,912,145
Expenses per Audited Statements$8,812,247
Total Expenses per Audited Statements$8,812,247
Expenses Not Reported on Financial Statements$99,898
Other Expense Adjustments$99,898
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/opeb Liability$9,825,889
DEFERRED INFLOW:PENSON/OPEB$1,685,604
Accrued Salaries$375,070
Accrued Interest Payable$93,169

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACecfa 2020 Bonds2020-05-07$25,285,000SEE PART VI

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$25,285,000--$614,566

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
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
Backup withholding compliance
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The contract cfo will conduct a review of the form 990 prior to being filed.

Form 990, Page 6, Part VI, Line 12C

The academy monitors this policy on a case-by-case basis. They screen each employee and contractor prior to hiring to ensure compliance.

Form 990, Page 6, Part VI, Line 19

Documents are made available upon request.

Filing and Contact Details

Filer

Filer Name
Addenbrooke Classical Academy Inc
EIN
80-0719145
Phone
3039891336
Address
3940 S TELLER STREET, LAKEWOOD, CO 80235

Signing Officer

Name
Ric Netzer
Title
Executive Director
Phone
3039891336
Signed
2025-04-23

Organization Details

Principal Officer
Ric Netzer
Formed
2016
Legal Domicile
Co
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
The Adams Group LLC
Address
400 S COLORADO BLVD STE 690, DENVER, CO 80246
Preparer
Jason D Adams CPA
Phone
3037333796
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Addenbrooke classical academy (aca) is a tuition-free, public k-12 charter school located in lakewood, colorado, aca utilizes an intergrated model of tradition and innovation to develop free and independent thinkers through classical instructional strategies.

Form 990, Part XI, Line 9

CAPITAL OUTLAY 10,403

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 4B

Modified accrual adj 89,495

Schedule D, Page 4, Part XII, Line 4B

Modified accrual adj 89,495 capital outlay 10,403

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IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0-7623211
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0-5386534
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt018769594
IRS990ScheduleD/BuildingsGrp/DepreciationAmt03560315
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt022329909
IRS990ScheduleD/EquipmentGrp/BookValueAmt0135497
IRS990ScheduleD/EquipmentGrp/DepreciationAmt048099
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0183596
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt099898
IRS990ScheduleD/ExpensesSubtotalAmt08812247
IRS990ScheduleD/LandGrp/BookValueAmt05553000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt05553000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt02302783
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt11331682
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2701
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DEFERRED OUTFLOW, PENSION/OPEB
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1RESTRICTED CASH AND INVESTMENTS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2CONSTRUCTION IN PROGRESS
IRS990ScheduleD/OtherExpensesNotIncludedAmt099898
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt09825889
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt11685604
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2375070
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt393169
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NET PENSION/OPEB LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DEFERRED INFLOW:PENSON/OPEB
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2ACCRUED SALARIES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3ACCRUED INTEREST PAYABLE
IRS990ScheduleD/OtherRevenuesNotIncludedAmt089495
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt089495
IRS990ScheduleD/RevenueSubtotalAmt011048924
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MODIFIED ACCRUAL ADJ 89,495
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1MODIFIED ACCRUAL ADJ 89,495 CAPITAL OUTLAY 10,403
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 4B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 4B
IRS990ScheduleD/TotalBookValueLandBuildingsAmt024458091
IRS990ScheduleD/TotalBookValueOtherAssetsAmt03635166
IRS990ScheduleD/TotalExpensesPerForm990Amt08912145
IRS990ScheduleD/TotalLiabilityAmt011979732
IRS990ScheduleD/TotalRevenuePerForm990Amt011138419
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt011048924
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt08812247
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE ACADEMY RECEIVES GRANTS AND PPR FROM THE STATE DEPARTMENT OF EDUCATION.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 6
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd0A
IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd0false
IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt0CECFA 2020 BONDS SEE PART VI
IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt1CECFA 2020 BONDS CURRENTLEY REFUND 2017 BONDS AND PROVIDE MONEY FOR CAPITAL PURCHASES.
IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc0PURPOSE OF ISSUE DESCRIPTION
IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc1ADDITIONAL INFORMATION
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/ExceptionToRebateInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02020-05-07
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsIssuesGrp/CUSIPNum019645RZ38
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt025285000
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0CECFA 2020 BONDS
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0SEE PART VI
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd0false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd0false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd0false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/InReserveFundAmt01036293
IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt0614566
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxableBondsInd0false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxExemptBondsInd0false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt025285000
IRS990ScheduleK/TaxExemptBondsProceedsGrp/UnspentAmt09241
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ADDENBROOKE CLASSICAL ACADEMY (ACA) IS A TUITION-FREE, PUBLIC K-12 CHARTER SCHOOL LOCATED IN LAKEWOOD, COLORADO, ACA UTILIZES AN INTERGRATED MODEL OF TRADITION AND INNOVATION TO DEVELOP FREE AND INDEPENDENT THINKERS THROUGH CLASSICAL INSTRUCTIONAL STRATEGIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CONTRACT CFO WILL CONDUCT A REVIEW OF THE FORM 990 PRIOR TO BEING FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ACADEMY MONITORS THIS POLICY ON A CASE-BY-CASE BASIS. THEY SCREEN EACH EMPLOYEE AND CONTRACTOR PRIOR TO HIRING TO ENSURE COMPLIANCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CAPITAL OUTLAY 10,403
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt024845000
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt024385000
IRS990/TaxExemptBondsInd0true
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt030780333
IRS990/TotalAssetsEOYAmt031091794
IRS990/TotalAssetsGrp/BOYAmt030780333
IRS990/TotalAssetsGrp/EOYAmt031091794

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