Monticello Academy Inc

Analysis

Monticello Academy Inc is a registered charity in United States, based in Salt Lake Cty, UT. It received its IRS tax-exemption ruling in March 2007, 19 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Monticello Academy Inc reported income of $11.9m and spending of $11.9m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $5.6m to $11.9m (+114%), an average of +21% a year. The sharpest change came in the year to June 2021, when income rose by 44%. Over the whole period it spent 97% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Monticello Academy Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within UT. Charities of a similar size with the same main cause include Arkansas Arts Academy ($11.9m), San Diego Christian College ($11.9m) and University of South Alabama Foundation ($11.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% and program service revenue 1.5% of the total. Compensation of current officers, directors and key employees was $158k (1.3% of expenses). Other salaries and wages came to $5.4m. At year end it held assets of $23.0m against liabilities of $22.1m, net assets of $835k. It reported 182 employees.