Civic Intelligence

Classical Education Growth Fund

990 • Fiscal year 2024 • EIN 88-4384220

Jul 01, 2023 to Jun 30, 2024 • Filed on May 14, 2025

Organization Profilewww.ascentcolorado.org
4690 Table Mountain Drive Suite 100Golden, CO 80403

(720) 506-2988

Siviq Scores

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

Liabilities / Assets

5th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

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

Liabilities / Revenue

5th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

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

Net Margin

50th percentile

4.2%

Higher net margin than 50% of similar nonprofits.

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

Top Officer Pay

15th percentile

$0

Higher top officer pay than 15% of similar nonprofits.

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

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

Asset Growth

1st percentile

-100%

Faster asset growth than 1% of similar nonprofits.

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

Revenue Growth

100th percentile

23320%

Faster revenue growth than 100% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets5th percentile

Assets

Down

$14,708

Down $16,660,581 (-100%) from 2023

Net Assets

Up

$14,708

Up $673,127 (+102%) from 2023

Liabilities

Down

$0

Down $17,333,708 (-100%) from 2023

Revenue And Expenses
Liabilities / Revenue5th percentileNet Margin50th percentile

Revenue

Up

$16,083,934

Up $16,015,257 (+23320%) from 2023

Expenses

Up

$15,410,807

Up $14,683,711 (+2020%) from 2023

Net Income

Up

$673,127

Up $1,331,546 (+202%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

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

$20M$15M$10M$5.0M$0-$5.0MAssets 2023: $16,675,289Liabilities 2023: $17,333,708Net Assets 2023: -$658,4192023Assets 2024: $14,708Liabilities 2024: $0Net Assets 2024: $14,7082024

Highlighted filing

2024

Assets$14,708
Liabilities$0
Net Assets$14,708
Open 2024 Filing

Operations Trend

Revenue Growth100th percentile

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

$20M$15M$10M$5.0M$0-$5.0MRevenue 2023: $68,677Expenses 2023: $727,096Net Income 2023: -$658,4192023Revenue 2024: $16,083,934Expenses 2024: $15,410,807Net Income 2024: $673,1272024

Highlighted filing

2024

Revenue$16,083,934
Expenses$15,410,807
Net Income$673,127
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 14, 2025
Return Version
2023v6.0
Gross Receipts
$16,083,934
Mission and Program Overview

Mission

See Schedule OThe Classical Education Growth Fund exists to serve as an entity through which classical-eucation public charter schools may, through lease arrangements, access long-term facilities at fixed costs tied to debt service so that such charter schools can in turn over time allocate their growing revenue to better support the instructional costs associated with operating a high-performing classical-education public charter school.

The Classical Education Growth Fund exists to serve as an entity through which classical-eucation public charter schools may, through lease arrangements, access long-term facilities at fixed costs tied to debt service so that such charter schools can in turn over time allocate their growing revenue to better support the instructional costs associated with operating a high-performing classical-education public charter school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$9,436,704$0▼ $9,436,704
Land, Buildings, and Equipment, Net$7,185,718$0▼ $7,185,718
Cash and Non-Interest-Bearing Accounts$52,867$12,708▼ $40,159
Accounts Receivable-$2,000-
Total Assets$16,675,289$14,708▼ $16,660,581
Liabilities
Mortgage Notes Payable Secured by Investment Property$16,900,000$0▼ $16,900,000
Accounts Payable and Accrued Expenses$433,708$0▼ $433,708
Total Liabilities$17,333,708$0▼ $17,333,708
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,808,998$14,708▼ $1,794,290
Net Assets With Donor Restrictions$-2,467,417$0▲ $2,467,417
Total Net Assets Fund Balance$-658,419$14,708▲ $673,127
Total Liabilities and Net Assets / Fund Balance$16,675,289$14,708▼ $16,660,581
Compensation and Service Providers
Top Officer Pay15th percentile

Board Members and Trustees

NameTitle
Rob WilliamsPresident and Treasurer
Rick GillanVice President
Stacey BowmanEx-Officio
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$232,613
Investment Income
$17,046
Other Revenue
$15,834,275
Change in Net Assets
$673,127
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$15,410,807
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$742,042--$742,042
Other Expenses$13,109--$13,109
Total Functional Expenses$15,410,807$0$0$15,410,807
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
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
Yes
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 4

“The Organization updated its bylaws in January of 2024.”

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, the Form 990 is provided to all board members for review.”

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

“The bylaws state that any responsible person shall immediarely 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 the Board of Directors at Ascent Classical Academy Charter Schools, Inc., 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, and conflict of interest policy available to the public upon request, and makes its financial statements available to the public through its website.”

Filing and Contact Details

Filer

Filer Name
Classical Education Growth Fund
EIN
88-4384220
Phone
7205062988
Address
4690 Table Mountain Drive Suite 100, Golden, CO 80403

Signing Officer

Name
Rob Williams
Title
Board Chair
Phone
7205062988
Signed
2025-05-14
Discuss with paid preparer
No

Organization Details

Principal Officer
Rob Williams
Formed
2022
Legal Domicile
Co
Voting Board Members
2
Independent Board Members
2
Employees
0
Volunteers
3

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 committee oversees audit services and the selection of independent auditors. This has not changed 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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IRS990/MissionDesc0See Schedule OThe Classical Education Growth Fund exists to serve as an entity through which classical-eucation public charter schools may, through lease arrangements, access long-term facilities at fixed costs tied to debt service so that such charter schools can in turn over time allocate their growing revenue to better support the instructional costs associated with operating a high-performing classical-education public charter school.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Organization updated its bylaws in January of 2024.
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, the Form 990 is provided to all board members for review.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The bylaws state that any responsible person shall immediarely 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 the Board of Directors at Ascent Classical Academy Charter Schools, Inc., 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, and conflict of interest policy available to the public upon request, and makes its financial statements available to the public through its website.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The finance committee oversees audit services and the selection of independent auditors. This has not changed from the prior year.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 4
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 2c:
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IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1Ascent Classical Academy Charter Schools Inc
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt2Ascent Classical Academy Charter Schools Inc
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0B
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1J
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt2S
IRS990ScheduleR/TransferFromOtherOrgInd01
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt016675289
IRS990/TotalAssetsEOYAmt014708
IRS990/TotalAssetsGrp/BOYAmt016675289
IRS990/TotalAssetsGrp/EOYAmt014708
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt015410807
IRS990/TotalFunctionalExpensesGrp/TotalAmt015410807
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt017333708
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt017333708
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-658419
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt014708
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt015410807
IRS990/TotalProgramServiceRevenueAmt0232613
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt017046
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt016066888
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt016083934
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt03
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt016675289
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt014708
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt04690 Table Mountain Drive Suite 100
IRS990/USAddress/CityNm0Golden
IRS990/USAddress/StateAbbreviationCd0CO
IRS990/USAddress/ZIPCd080403
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0www.ascentcolorado.org
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd00
ReturnHeader/BusinessOfficerGrp/PersonNm0Rob Williams
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Board Chair
ReturnHeader/BusinessOfficerGrp/PhoneNum07205062988
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-05-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Classical Education Growth Fund
ReturnHeader/Filer/BusinessNameControlTxt0CLAS
ReturnHeader/Filer/EIN0884384220
ReturnHeader/Filer/PhoneNum07205062988
ReturnHeader/Filer/USAddress/AddressLine1Txt04690 Table Mountain Drive Suite 100
ReturnHeader/Filer/USAddress/CityNm0Golden
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CO
ReturnHeader/Filer/USAddress/ZIPCd080403
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0300514455
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Hoelting & Company Inc
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt031 East Platte Avenue Suite 300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Colorado Springs
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd080903
ReturnHeader/PreparerPersonGrp/PhoneNum07196301091
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Thomas G Sistare
ReturnHeader/ReturnTs02025-05-14T16:56:38-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$14,708
Liabilities
$0
Net assets
$14,708
Revenue
$16,083,934
Expenses
$15,410,807
Net income
$673,127
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.01$0.00$0.01$16.1$15.4$0.67
2023Detailed filing. Detailed filing data is available for this year.$16.7$17.3$0.66$0.07$0.73$0.66