Belmont Academyinc
Nonprofit profile at a glance
- EIN
- 454185220
- IRS 990 coverage
- 2013–2024
- Forms available
- Form 990 2024
- Location
- Lake City, FL, USA
- Phone
- 3864870487
- Rating
- 82
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Charter Schools
Reported finances
- Revenue
- $8,896,842
- Expenses
- $8,159,676
- Assets
- $14,965,996
- Liabilities
- $11,505,770
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
9 people listed
Executive titles in this filing
- CHASE LARSEN (PRESIDENT/CHAIRMAN)
Highest reported compensation
- RON BARKER (PRINCIPAL): $133,809 total reported compensation
- MICHAEL VINCON (CFO): $117,352 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
See schedule o
What it reported doing in 2024
Vpk - 12th grade quality education program. The school's enrollment was approximately 800 students for the 2024-2025 school year.
Operating model
- Revenue model
- Earned-program. 83% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 72
- Transparency & Controls: 92
- Accountability: 90
- Sustainability: 54
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 78.2%; rating input score 78
- Program expense ratio: 86.3%; rating input score 86
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 6 of 8 controls in place; rating input score 75
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 8.3%; rating input score 59; 59th percentile among comparable filings
- Total-asset coverage ratio: 1.83; rating input score 59; 59th percentile among comparable filings
- Liabilities to assets ratio: 0.77; rating input score 11; 11th percentile among comparable filings
- Officer compensation ratio: 3.1%; rating input score 68; 68th percentile among comparable filings
Growth
- Program expense growth: 10.7% per year; rating input score 100; 66th percentile among comparable filings
- Revenue growth: 11% per year; rating input score 100; 72nd percentile among comparable filings
- Asset growth: 25.5% per year; rating input score 100; 90th percentile among comparable filings
Details
- Where the money goes: 78.2% of revenue deployed · 86.3% of spending went to programs
- Governance: 7 of 7 board members independent · 6 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $7M in reported program spending
- Leadership: top reported pay $134K · 9 people listed
- Highest-paid contractors: 1 contractor listed · $194K reported
- Consistency: 34 of 34 current checks pass
- Schedules: 8 filed schedules · includes major donors
- Filing history: 11 filing years from 2013 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Review — Accountability: Governance controls: 2 of 8 not reported.
- Review — Sustainability: Operating margin scored 59/100.
- Review — Sustainability: Total-asset coverage ratio scored 59/100.
- High — Sustainability: Liabilities to assets ratio scored 11/100.