Civic Intelligence

Annunciation Heights

EIN 82-3745326 • 501(c)3 • Denver, CO

Profile

Annunciation heights is a catholic youth and family camp nestled at the base of longs peak in the heart of colorado's majestic rocky mountains. We seek to glorify god by leading our guests into the depth and mystery of a personal friendship with jesus and his church, under the patronage of mary, our goal is to awaken and restore the hearts of catholics to the joy of knowing and living the catholic christian life. Annunciation heights provides a mountain location for youth, young adults, and families to camp and retreat. The goal of the organization is to allow our guests a place to grow in their relationship with god, themselves, each other and creation. We do this by offering a variety of camping, retreat, and outdoor education programs for primary, middle school, high school and college students throughout the year. In the summer, we offer family camps and camps for boys and girls. We also host various group retreats on weekends year-round.

1300 S Steele StDenver, CO 80210

annunciationheights.org

Siviq Scores

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

Liabilities / Assets

99th percentile

2.44x

Higher debt load relative to assets than 99% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2025

Liabilities / Revenue

97th percentile

9.72x

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

501(c)3 • $5M-$10M nonprofits • Source year 2025

Net Margin

4th percentile

-88%

Higher net margin than 4% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2025

Top Officer Pay

Score unavailable

No value available

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

Asset Growth

80th percentile

22%

Faster asset growth than 80% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2025

Revenue Growth

54th percentile

8.6%

Faster revenue growth than 54% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2025

Assets

Up

$6,309,977

Up $240,625 (+4.0%) from 2024

Liabilities

Up

$15,377,026

Up $1,634,455 (+12%) from 2024

Net Assets

Down

-$9,067,049

Down $1,393,830 (-18%) from 2024

Revenue

Up

$1,582,147

Up $184,170 (+13%) from 2024

Expenses

Up

$2,975,977

Up $53,598 (+1.8%) from 2024

Net Income

Up

-$1,393,830

Up $130,572 (+8.6%) from 2024

Trend Graphs

Balance Sheet Trend

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

$20M$10M$0-$10MAssets 2018: $3,800,168Liabilities 2018: $4,192,116Net Assets 2018: -$391,9482018Assets 2019: $4,150,178Liabilities 2019: $5,653,718Net Assets 2019: -$1,503,5402019Assets 2020: $4,485,608Liabilities 2020: $7,220,230Net Assets 2020: -$2,734,6222020Assets 2021: $4,116,985Liabilities 2021: $7,910,959Net Assets 2021: -$3,793,9742021Assets 2022: $4,364,773Liabilities 2022: $9,145,066Net Assets 2022: -$4,780,2932022Assets 2023: $4,259,253Liabilities 2023: $10,408,070Net Assets 2023: -$6,148,8172023Assets 2024: $6,069,352Liabilities 2024: $13,742,571Net Assets 2024: -$7,673,2192024Assets 2025: $6,309,977Liabilities 2025: $15,377,026Net Assets 2025: -$9,067,0492025

Highlighted filing

2025

Assets$6,309,977
Liabilities$15,377,026
Net Assets-$9,067,049

Operations Trend

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

$4.0M$2.0M$0-$2.0MRevenue 2018: $70,728Expenses 2018: $462,676Net Income 2018: -$391,9482018Revenue 2019: $728,872Expenses 2019: $1,840,464Net Income 2019: -$1,111,5922019Revenue 2020: $587,226Expenses 2020: $1,818,308Net Income 2020: -$1,231,0822020Revenue 2021: $835,834Expenses 2021: $1,895,186Net Income 2021: -$1,059,3522021Revenue 2022: $1,513,319Expenses 2022: $2,499,638Net Income 2022: -$986,3192022Revenue 2023: $1,341,275Expenses 2023: $2,709,799Net Income 2023: -$1,368,5242023Revenue 2024: $1,397,977Expenses 2024: $2,922,379Net Income 2024: -$1,524,4022024Revenue 2025: $1,582,147Expenses 2025: $2,975,977Net Income 2025: -$1,393,8302025

Highlighted filing

2025

Revenue$1,582,147
Expenses$2,975,977
Net Income-$1,393,830

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Apr 30, 2025
Signed
Jan 28, 2026
Return Version
2024v5.0
Gross Receipts
$1,598,809
Mission and Program Overview

Mission

Annunciation heights is a catholic youth and family camp nestled at the base of longs peak in the heart of colorado's majestic rocky mountains. We seek to glorify god by leading our guests into the depth and mystery of a personal friendship with jesus and his church, under the patronage of mary, our goal is to awaken and restore the hearts of catholics to the joy of knowing and living the catholic christian life. Annunciation heights provides a mountain location for youth, young adults, and families to camp and retreat. The goal of the organization is to allow our guests a place to grow in their relationship with god, themselves, each other and creation. We do this by offering a variety of camping, retreat, and outdoor education programs for primary, middle school, high school and college students throughout the year. In the summer, we offer family camps and camps for boys and girls. We also host various group retreats on weekends year-round.

A catholic camp that allows guests growth in relationships with god, themselves, each other and creation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,900,836$5,873,986▼ $26,850
Cash and Non-Interest-Bearing Accounts$63,062$187,276▲ $124,214
Accounts Receivable$9,360$168,539▲ $159,179
Inventories for Sale or Use$44,182$38,536▼ $5,646
Prepaid Expenses and Deferred Charges$27,496$15,800▼ $11,696
Total Assets$6,069,352$6,309,977▲ $240,625
Other Assets Total$24,416$25,840▲ $1,424
Liabilities
Other Liabilities$13,343,075$14,931,648▲ $1,588,573
Deferred Revenue$247,018$320,156▲ $73,138
Accounts Payable and Accrued Expenses$152,478$125,222▼ $27,256
Total Liabilities$13,742,571$15,377,026▲ $1,634,455
Net Assets / Fund Balance
Net Assets With Donor Restrictions$70,547--
Net Assets Without Donor Restrictions$-7,743,766$-9,067,049▼ $1,323,283
Total Net Assets Fund Balance$-7,673,219$-9,067,049▼ $1,393,830
Total Liabilities and Net Assets / Fund Balance$6,069,352$6,309,977▲ $240,625

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$1,882,765$1,252,332$3,135,097
Land$2,023,437-$2,023,437
Buildings$1,303,119$479,944$1,783,063
Equipment$386,868$147,254$534,122
Other Land Buildings$277,797$22,306$300,103
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Nathan Glassman From 012024Exe. DirectoFT$89,846$28,782$118,628

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$664,407
Program Service Revenue
$908,004
Investment Income
$1,425
Other Revenue
$8,311
All Other Contributions
$504,724
Change in Net Assets
$-1,393,830
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,809,692
Salaries, Compensation, and Employee Benefits$1,124,618
Total Fundraising Expense$117,724
Professional Fundraising Fees$41,667
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$698,277$48,472$11,625$758,374
Interest$491,831--$491,831
Fees for Services Other$234,095$57,722$28,861$320,678
Depreciation Depletion$280,400--$280,400
Other Employee Benefits$122,530$16,584-$139,114
Current Officers, Directors, Trustees, and Key Employees$77,108$17,794$23,726$118,628
Office Expenses$99,317$17,526-$116,843
Insurance$71,869$1,901$2,282$76,052
Other Expenses$74,824-$7,976$74,824
Payroll Taxes$58,741$3,708$889$63,338
Pension Plan Contributions$41,558$2,908$698$45,164
Fees for Services Professional Fundraising--$41,667$41,667
Occupancy$33,666--$33,666
Advertising$26,406--$26,406
Travel$21,300--$21,300
Conferences and Meetings$7,986--$7,986
Information Technology$3,023$336-$3,359
Fees for Services Legal-$3,093-$3,093
Total Functional Expenses$2,688,209$170,044$117,724$2,975,977
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$41,667

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fiat Fest$16,756---
Total Events$16,756---
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Line of Credit$12,483,836
Due to Other Archdiocesan Entities$2,447,812
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
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
Yes
Other officer compensation reviewed
Yes
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

Form 990, part vi, section a, line 2: the following officers are also employees and officers of the archdiocese of denver: archbishop of denver most rev. Samuel j. Aquila, very rev. Randy m. Dollins, v.g., keith parsons, and david kolbet. All individuals serve as officers for annunciation heights without compensation from annunciation heights or the archdiocese of denver. Salary information for these individuals is unavailable.

Form 990, Page 6, Part VI, Line 7A

The archbishop of the archdiocese of denver has sole authority to appoint all directors not serving ex-officio.

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

The board of directors is provided a copy of the form 990 for review and approval prior to filing with the irs.

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

All board members and key members of management are required to complete annual conflict of interest questionnaires. Disclosure of potential conflict of interest transactions involving board members is made to the board president, who brings these matters to the board, as necessary. In cases with actual conflicts, the person with the conflict of interest is excluded from the substantive approval of such transactions. Ultimately, the board president determines if a conflict exists and, in the case of existing conflict, whether the contemplated transaction may be authorized or recommended.

Form 990, Page 6, Part VI, Line 15A

In general terms, the compensation for the executive director was determined by analyzing the budget and comparing the compensation to local and national markets for the same position, and other comparability data. The compensation was reviewed and approved by the board of directors in connection with the organization's overall budget process. Performance reviews of the executive director will be performed on an annual basis by the board president. Any evaluation of and recommended adjustments to the compensation will be contemporaneously documented.

Form 990, Page 6, Part VI, Line 15B

See description above for line 15a.

Form 990, Page 6, Part VI, Line 19

Annunciation heights makes its' governing documents, conflicts of interest policy, and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Annunciation Heights
EIN
82-3745326
Phone
9705865689
Address
1300 S STEELE ST, DENVER, CO 80210

Signing Officer

Name
David Kolbet
Title
Treasurer
Phone
9705865689
Signed
2026-01-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Kolbet
Formed
2017
Legal Domicile
Co
Voting Board Members
9
Independent Board Members
9
Employees
90
Volunteers
100

Preparer

Firm
Kundinger Corder & Montoya Pc
Address
475 LINCOLN STREET SUITE 200, DENVER, CO 80203
Preparer
Maria Montoya
Phone
3035345953
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Annunciation heights is a catholic youth and family camp nestled at the base of longs peak in the heart of colorado's majestic rocky mountains. We seek to glorify god by leading our guests into the depth and mystery of a personal friendship with jesus and his church, under the patronage of mary, our goal is to awaken and restore the hearts of catholics to the joy of knowing and living the catholic christian life. Annunciation heights provides a mountain location for youth, young adults, and families to camp and retreat. The goal of the organization is to allow our guests a place to grow in their relationship with god, themselves, each other and creation. We do this by offering a variety of camping, retreat, and outdoor education programs for primary, middle school, high school and college students throughout the year. In the summer, we offer family camps and camps for boys and girls. We also host various group retreats on weekends year-round.

Form 990, Part IX, Line 11G

Other functional exp 234,095 57,722 28,861

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IRS990/Desc0DURING 2025, WE CLOSED OUR YEAR ON APRIL 30, 2025 INSTEAD OF JUNE 30, 2025 SO THAT WE COULD RECORD OUR SUMMER ACTIVITY IN THE SAME FISCAL YEAR. AS A RESULT, THE FY2025 YEAR RUNS FROM JULY 1, 2024 TO APRIL 30, 2025. FOR OUR YOUTH AND FAMILY CAMP PROGRAMING, REVENUE TOTALED 254,164 WHILE EXPENSES WERE 198,379. GUEST GROUP REVENUE TOTALED 351,774 WHILE INCURRING DIRECT EXPENSES OF 30,914. OUR OUTDOOR EDUCATION PROGRAM EXPERIENCED 283,366 IN REVENUE AND 80,867 IN EXPENSES. MANY OF OUR EXPENSES ARE NOT DIRECTLY ALLOCATED TO OUR PROGRAM SERVICES SINCE THEY ARE SHARED ACROSS VARIOUS PROGRAMS. THEREFORE, OUR TOTAL REVENUE WAS 1,437,220 WHILE OUR TOTAL EXPENSES WERE 2,975,747.
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IRS990/MissionDesc0ANNUNCIATION HEIGHTS IS A CATHOLIC YOUTH AND FAMILY CAMP NESTLED AT THE BASE OF LONGS PEAK IN THE HEART OF COLORADO'S MAJESTIC ROCKY MOUNTAINS. WE SEEK TO GLORIFY GOD BY LEADING OUR GUESTS INTO THE DEPTH AND MYSTERY OF A PERSONAL FRIENDSHIP WITH JESUS AND HIS CHURCH, UNDER THE PATRONAGE OF MARY, OUR GOAL IS TO AWAKEN AND RESTORE THE HEARTS OF CATHOLICS TO THE JOY OF KNOWING AND LIVING THE CATHOLIC CHRISTIAN LIFE. ANNUNCIATION HEIGHTS PROVIDES A MOUNTAIN LOCATION FOR YOUTH, YOUNG ADULTS, AND FAMILIES TO CAMP AND RETREAT. THE GOAL OF THE ORGANIZATION IS TO ALLOW OUR GUESTS A PLACE TO GROW IN THEIR RELATIONSHIP WITH GOD, THEMSELVES, EACH OTHER AND CREATION. WE DO THIS BY OFFERING A VARIETY OF CAMPING, RETREAT, AND OUTDOOR EDUCATION PROGRAMS FOR PRIMARY, MIDDLE SCHOOL, HIGH SCHOOL AND COLLEGE STUDENTS THROUGHOUT THE YEAR. IN THE SUMMER, WE OFFER FAMILY CAMPS AND CAMPS FOR BOYS AND GIRLS. WE ALSO HOST VARIOUS GROUP RETREATS ON WEEKENDS YEAR-ROUND.
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IRS990ScheduleG/FundraiserActivityInfoGrp/ActivityTxt0PART IV
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IRS990ScheduleG/FundraiserActivityInfoGrp/OrganizationBusinessName/BusinessNameLine1Txt0ARCHDIOCESE OF DENVER
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IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/AddressLine1Txt01300 S STEELE ST
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IRS990ScheduleG/SupplementalInformationDetail/ExplanationTxt0PART I, LINES 2A AND 2B: FOR A BASE ANNUAL FEE, THE ARCHDIOCESE'S MISSION ADVANCEMENT OFFICE ("MAO") PROVIDES FUNDRAISING AND RELATED DEVELOPMENT SERVICES AND RESOURCES TO THE ORGANIZATION THAT INCLUDE: DONOR COMMUNICATIONS AND RELATIONS, DONOR SOLICITATION, EVENT ASSISTANCE, GRANT APPLICATION AND REPORTING, AND GRAPHIC DESIGN. THE AGREEMENT IS AUTO-RENEWABLE EACH YEAR, BUT THE FEE IS NEGOTIATED ON AN ANNUAL BASIS. FOR THE YEAR ENDED APRIL 30, 2025, FEES INCURRED IN CONNECTION WITH THIS SERVICE AGREEMENT TOTALED 41,667. THESE FEES HAVE BEEN REPORTED ON LINE 11E AS PROFESSIONAL FUNDRAISING SERVICES.
IRS990ScheduleG/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE G, PART IV
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