Eagle Ridge Academy

Nonprofit profile at a glance

EIN
731673656
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Minnetonka, MN, USA
Phone
9527467760
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Charter Schools

Official website

Reported finances

Revenue
$21,397,968
Expenses
$21,492,914
Assets
$12,052,176
Liabilities
$11,660,019

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • JASON ULBRICH (EXECUTIVE DIRECTOR)

Highest reported compensation

  • JASON ULBRICH (EXECUTIVE DIRECTOR): $254,919 total reported compensation
  • SUSAN BLOOMGREN (ACADEMIC DIRECTOR): $154,186 total reported compensation
  • AMBER DAHLSTROM (DIRECTOR OF SPECIAL SERVICES): $139,491 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of eagle ridge academy is to engage all students in a time-tested, classical liberal arts education that demands their best in academic achievement and honorable character while challenging them to attain their highest potential.

What it reported doing in 2024

Providing students with a traditional, classical, education that demands their best in academic achievement, behavior, and attitudes while challenging them to attain their highest potential. During the fiscal year ending june 30, 2025, eagle ridge academy served an estimated 1,500 students.

Operating model

Revenue model
Grant-funded. 93% of the money available for current operations came from government grants.
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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 85
  • Accountability: 78
  • Sustainability: 26
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.2%; rating input score 89
  • Program expense ratio: 88.7%; rating input score 89
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 71.4%; rating input score 71; 12th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -0.4%; rating input score 29; 29th percentile among comparable filings
  • Total-asset coverage ratio: 0.56; rating input score 18; 18th percentile among comparable filings
  • Liabilities to assets ratio: 0.97; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 4.9%; rating input score 51; 51st percentile among comparable filings

Growth

  • Program expense growth: 8% per year; rating input score 100; 61st percentile among comparable filings
  • Revenue growth: 9% per year; rating input score 100; 70th percentile among comparable filings
  • Asset growth: 11.7% per year; rating input score 100; 71st percentile among comparable filings

Details

  • Where the money goes: 89.2% of revenue deployed · 88.7% of spending went to programs
  • Governance: 5 of 7 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $19.1M in reported program spending
  • Leadership: top reported pay $255K · 13 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $2.8M reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 8 filed schedules · includes major donors, executive pay, and related organizations
  • Filing history: 14 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • Related organizations: 3 filed related-organization links
  • 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Operating margin scored 29/100.
  • High — Sustainability: Total-asset coverage ratio scored 18/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.
  • Review — Sustainability: Officer compensation ratio scored 51/100.