Civic Intelligence

Liberty Tree Academy

990 • Fiscal year 2024 • EIN 82-2259254

Jul 01, 2023 to Jun 30, 2024 • Filed on Feb 21, 2025

8579 Eastonville RoadFalcon, CO 80831

(719) 559-8733

Siviq Scores

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

Liabilities / Assets

95th percentile

1.08x

Higher debt load relative to assets than 95% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

85th percentile

1.02x

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

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

27th percentile

-4.6%

Higher net margin than 27% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

38th percentile

$101,438

Higher top officer pay than 38% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Asset Growth

77th percentile

17%

Faster asset growth than 77% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

34th percentile

0.1%

Faster revenue growth than 34% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Assets

Up

$6,776,188

Up $1,003,531 (+17%) from 2023

Net Assets

Down

-$545,725

Down $327,551 (-150%) from 2023

Liabilities

Up

$7,321,913

Up $1,331,082 (+22%) from 2023

Revenue

Up

$7,174,195

Up $9,785 (+0.1%) from 2023

Expenses

Up

$7,501,746

Up $358,006 (+5.0%) from 2023

Net Income

Down

-$327,551

Down $348,221 (-1685%) from 2023

Historical Trend

Balance Sheet Trend

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

$20M$10M$0-$10MAssets 2018: $47,206Liabilities 2018: $62,247Net Assets 2018: -$15,0412018Assets 2019: $16,738,389Liabilities 2019: $18,300,396Net Assets 2019: -$1,562,0072019Assets 2020: $15,107,272Liabilities 2020: $17,195,406Net Assets 2020: -$2,088,1342020Assets 2021: $6,133,452Liabilities 2021: $6,841,314Net Assets 2021: -$707,8622021Assets 2022: $5,385,621Liabilities 2022: $5,624,465Net Assets 2022: -$238,8442022Assets 2023: $5,772,657Liabilities 2023: $5,990,831Net Assets 2023: -$218,1742023Assets 2024: $6,776,188Liabilities 2024: $7,321,913Net Assets 2024: -$545,7252024

Highlighted filing

2024

Assets$6,776,188
Liabilities$7,321,913
Net Assets-$545,725

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2018: $81,442Expenses 2018: $96,483Net Income 2018: -$15,0412018Revenue 2019: $2,858,202Expenses 2019: $4,405,168Net Income 2019: -$1,546,9662019Revenue 2020: $4,543,391Expenses 2020: $5,069,518Net Income 2020: -$526,1272020Revenue 2021: $5,498,941Expenses 2021: $5,548,760Net Income 2021: -$49,8192021Revenue 2022: $6,163,071Expenses 2022: $5,694,053Net Income 2022: $469,0182022Revenue 2023: $7,164,410Expenses 2023: $7,143,740Net Income 2023: $20,6702023Revenue 2024: $7,174,195Expenses 2024: $7,501,746Net Income 2024: -$327,5512024

Highlighted filing

2024

Revenue$7,174,195
Expenses$7,501,746
Net Income-$327,551
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Feb 21, 2025
Return Version
2023v6.0
Gross Receipts
$7,174,195
Mission and Program Overview

Mission

Liberty Tree Academy trains the minds and improves the hearts of young people through a classical, content-rich education in the liberal arts and sciences, with instruction in the principles of moral character and civic virtue in an orderly, disciplined environment.

Liberty Tree is dedicated to an authentic, Traditional American Education. To be a community that actively cultivates character in a challenging and enganging learning environment.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$2,673,165$2,818,365▲ $145,200
Cash and Non-Interest-Bearing Accounts$1,207,085$1,578,420▲ $371,335
Land, Buildings, and Equipment, Net$197,508$168,146▼ $29,362
Prepaid Expenses and Deferred Charges$14,912$32,774▲ $17,862
Pledges and Grants Receivable$25,455$22,545▼ $2,910
Accounts Receivable-$3,612-
Total Assets$5,772,657$6,776,188▲ $1,003,531
Other Assets Total$1,654,532$2,152,326▲ $497,794
Liabilities
Other Liabilities$5,732,242$6,998,423▲ $1,266,181
Accounts Payable and Accrued Expenses$223,982$298,356▲ $74,374
Unsecured Notes Loans Payable$25,135--
Mortgage Notes Payable Secured by Investment Property$9,472$25,134▲ $15,662
Total Liabilities$5,990,831$7,321,913▲ $1,331,082
Net Assets / Fund Balance
Net Assets With Donor Restrictions$212,000$212,000→ $0
Net Assets Without Donor Restrictions$-430,174$-757,725▼ $327,551
Total Net Assets Fund Balance$-218,174$-545,725▼ $327,551
Total Liabilities and Net Assets / Fund Balance$5,772,657$6,776,188▲ $1,003,531

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$168,146$173,254$341,400
Other Assets Org$5,000--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Nathan ManleyPrincipalFT$71,945$29,493$101,438

Board Members and Trustees

NameTitle
Tim GeitnerPresident
Jenni HellendVice President
Michael PetersonBoard Member
Stephanie RussellBoard Member
Raylene RevordSecretary
Michael JohnsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$501,116
Program Service Revenue
$6,527,476
Investment Income
$145,095
Other Revenue
$508
All Other Contributions
$3,564
Change in Net Assets
$-327,551

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,174,195
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$1,374,641
Total Revenue per Audited Statements
$8,548,836
Total Revenue per Form 990
$7,174,195
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,770,583
Other Expenses$2,731,163
Total Fundraising Expense$15,768
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,470,009$435,884-$2,905,893
Occupancy$1,182,677$208,708-$1,391,385
Pension Plan Contributions$1,157,257$213,758-$1,371,015
Other Employee Benefits$213,085$39,359-$252,444
Current Officers, Directors, Trustees, and Key Employees$136,943$45,648-$182,591
Other Expenses$172,665$27,427-$172,665
All Other Expenses$76,385$13,478$15,532$105,395
Depreciation Depletion$53,254$9,398-$62,652
Fees for Services Other-$60,870-$60,870
Payroll Taxes$49,497$9,143-$58,640
Office Expenses$46,267$8,165-$54,432
Fees for Services Legal-$34,443-$34,443
Advertising$29,231$5,158-$34,389
Travel$27,628$4,876$236$32,740
Insurance$23,975$4,231-$28,206
Fees for Services Accounting-$11,100-$11,100
Information Technology$2,575$454-$3,029
Interest$1,471$260-$1,731
Total Functional Expenses$6,270,327$1,215,651$15,768$7,501,746

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$9,020,398
Expenses per Audited Statements$7,501,746
Total Expenses per Form 990$7,501,746
Expenses Not Reported on Form 990$1,518,652
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$6,652,962
Deferred Inflows of Resources$184,819
Net OPEB Liability$160,642
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

Copies of the Form 990 will be reviewed by the Business Administrator, Principal and each Board Member.

Form 990, Part VI, Section C, line 19

Financial information for the organization can be obtained through the schools website and by contacting the school.

Filing and Contact Details

Filer

Filer Name
Liberty Tree Academy
EIN
82-2259254
Phone
7195598733
Address
8579 Eastonville Road, Falcon, CO 80831

Signing Officer

Name
Tim Geitner
Title
President
Phone
7195598733
Signed
2025-02-21
Discuss with paid preparer
No

Organization Details

Principal Officer
Tim Geitner
Formed
2016
Legal Domicile
Co
Voting Board Members
6
Independent Board Members
6
Employees
117
Volunteers
2

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 comittee oversees audit services and selection of independent auditors.

Financial Statement Notes

Part XI, Line 2D - Other Adjustments:

Building Corporation - Investment Income 25,103. Building Corporation - Rental Income 1,349,538.

Part XII, Line 2D - Other Adjustments:

Building Corporation - Interest 1,107,940. Building Corporation - Depreciation/Amortization 335,951. Building Corporation - Insurance 64,710. Building Corporation - Dues and Fees 10,051.

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IRS990/ProgramServiceRevenueGrp/Desc0Per Pupil Revenue
IRS990/ProgramServiceRevenueGrp/Desc1Mill Levy Override
IRS990/ProgramServiceRevenueGrp/Desc2Charges for Services
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt06085807
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1322875
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2118794
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt06085807
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1322875
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2118794
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0548524
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt098288
IRS990/PYOtherExpensesAmt02886063
IRS990/PYOtherRevenueAmt028411
IRS990/PYProgramServiceRevenueAmt06489187
IRS990/PYRevenuesLessExpensesAmt020670
IRS990/PYSalariesCompEmpBnftPaidAmt04257677
IRS990/PYTotalExpensesAmt07143740
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt07164410
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-327551
IRS990/RegularMonitoringEnfrcInd00
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt06527984
IRS990/SavingsAndTempCashInvstGrp/BOYAmt02673165
IRS990/SavingsAndTempCashInvstGrp/EOYAmt02818365
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt0168146
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0173254
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0341400
IRS990ScheduleD/ExpensesNotReportedAmt01518652
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt07501746
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt02147326
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt15000
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Deferred Outflows of Resources
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Deposits
IRS990ScheduleD/OtherExpensesIncludedAmt01518652
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt06652962
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1184819
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2160642
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Net Pension Liabilities
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Deferred Inflows of Resources
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Net OPEB Liability
IRS990ScheduleD/OtherRevenueAmt01374641
IRS990ScheduleD/RevenueNotReportedAmt01374641
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt07174195
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Building Corporation - Investment Income 25,103. Building Corporation - Rental Income 1,349,538.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Building Corporation - Interest 1,107,940. Building Corporation - Depreciation/Amortization 335,951. Building Corporation - Insurance 64,710. Building Corporation - Dues and Fees 10,051.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part XI, Line 2d - Other Adjustments:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part XII, Line 2d - Other Adjustments:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0168146
IRS990ScheduleD/TotalBookValueOtherAssetsAmt02152326
IRS990ScheduleD/TotalExpensesPerForm990Amt07501746
IRS990ScheduleD/TotalLiabilityAmt06998423
IRS990ScheduleD/TotalRevenuePerForm990Amt07174195
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt08548836
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt09020398
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd01
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 policy is in the Family Handbook on the schools website.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1Per pupil funding and federal grant funding is received through the Colorado Department of Education.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Part I, Line 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Part I, Line 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Copies of the Form 990 will be reviewed by the Business Administrator, Principal and each Board Member.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Financial information for the organization can be obtained through the schools website and by contacting the school.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The finance comittee oversees audit services and selection of independent auditors.
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:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd01
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt0Liberty Tree Academy
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0831398964
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0CO
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/OwnershipPct01.00000
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0Lease Equipment and property to Liberty Tree Academy
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0Liberty Tree Academy Building Corporation
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ShareOfEOYAssetsAmt014537626
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ShareOfTotalIncomeAmt01374641
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt08579 Eastonville Road
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0Falcon
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0CO
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd080831
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd01
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt01270013
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0Fair Market Value
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0Liberty Tree Academy Building Corporation
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0K
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00

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