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Nonprofiteer
← MONTGOMERY ACADEMY FOUNDATION

Form 990 for tax year 2023

Filed by MONTGOMERY ACADEMY FOUNDATION.

Totals

Total revenue
$717,769
Total expenses
$3,500
Contributions and grants received
$148,171
Grants paid
$3,500
Program service revenue
$0
Investment income
$569,598
Other revenue
$0
Total assets, end of year
$6,569,913
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$6,569,913
Program services expenses (Part IX)
$3,500
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$3,500

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $148,171

  • 1g · Noncash contributions included above

    $140,821

  • 3 · Investment income

    total $111,397 · excluded $111,397

  • 7a · Gross sales of assets other than inventory

    securities $721,000

  • 7b · Less cost or other basis and sales expenses

    securities $262,799

  • 7c · Gain or loss

    securities $458,201

  • 7d · Net gain or loss

    total $458,201 · excluded $458,201

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $3,500 · program services $3,500

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year $4,634

  • 2 · Savings and temporary cash investments

    beginning of year $472 · end of year $572

  • 3 · Pledges and grants receivable

    beginning of year $3,865 · end of year $3,865

  • 4 · Accounts receivable

    beginning of year $91,008 · end of year $816,108

  • 11 · Investments: publicly traded securities

    beginning of year $5,560,331 · end of year $5,744,734

  • 27 · Net assets without donor restrictions

    beginning of year $4,011,966 · end of year $4,578,543

  • 28 · Net assets with donor restrictions

    beginning of year $1,643,710 · end of year $1,991,370

Mission and programs · 2023

Mission

PROVIDE FINANCIAL AND OTHER SUPPORT FOR THE MONTGOMERY ACADEMY

Activities or mission (Part I)

PROVIDE FINANCIAL AND OTHER SUPPORT OF AND FOR THE MONGOMERY ACADEMY

  • SUPPORT OF THE EDUCATIONAL PURPOSE OF MONTGOMERY ACADEMY

    Expenses $3,500 · Grants $3,500

As filed on the 2023 return.

Listed in Part VII

  • Henry H Hutchinson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Millie Houston

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Andy Weil

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Charlie Harris

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Peter Selman

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Clark Sahlie

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Knox Kershaw

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Shannon Speir

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Ellen Brooks

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Stephen Dees

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Nancy Bradford

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • William Crum III

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Ashley McDaniel

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • John McWilliams

    HEAD OF SCHOOL

    Total calculated
    $231,878
    From this org
    $0
    From related orgs
    $211,290
    Other
    $20,588
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $211,290 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $15,750 related
    Nontaxable benefits
    $0 + $4,838 related
    Filer's total
    $0 + $231,878 related

  • Derek Dubose

    CHIEF FINANCIAL OFFICER -

    Total calculated
    $93,690
    From this org
    $0
    From related orgs
    $81,707
    Other
    $11,983
    Hours/week
    1 + 40 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
11 May 2025
IRS schema version
2023v6.0
Source object
202511329349302526

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