Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $9,445

• 1f · All other contributions, gifts and grants

  $28,088

• 2a · Program service revenue: Tuition

  total $53,002,703 · related or exempt $53,002,703

• 2b · Program service revenue: Other Income

  total $412,014 · related or exempt $412,014

• 3 · Investment income

  total $1,074,728 · excluded $1,074,728

• 6a · Gross rents

  real property $30,875

• 6b · Less rental expenses

  real property $26,543

• 6c · Rental income or loss

  real property $4,332

• 6d · Net rental income or loss

  total $4,332 · excluded $4,332

• 7a · Gross sales of assets other than inventory

  securities $7,197 · other assets $54,381

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

  securities $0 · other assets $0

• 7c · Gain or loss

  securities $7,197 · other assets $54,381

• 7d · Net gain or loss

  total $61,578 · excluded $61,578

• 8a · Fundraising events: gross income

  $4,800

• 8a · Fundraising events: contributions included on line 1c

  $9,445

• 8b · Fundraising events: direct expenses

  $3,634

• 8c · Net income from fundraising events

  total $1,166 · excluded $1,166

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $1,992,946 · program services $1,493,458 · management and general $499,488

• 7 · Other salaries and wages

  total $25,920,815 · program services $19,770,404 · management and general $6,150,411

• 8 · Pension plan contributions

  total $396,330 · program services $302,773 · management and general $93,557

• 9 · Other employee benefits

  total $4,647,729 · program services $3,543,183 · management and general $1,104,546

• 10 · Payroll taxes

  total $2,087,719 · program services $1,590,586 · management and general $497,133

• 11b · Fees: legal

  total $163,748 · program services $124,739 · management and general $39,009

• 11c · Fees: accounting

  total $80,800 · program services $61,551 · management and general $19,249

• 11g · Fees: other

  total $364,222 · program services $309,460 · management and general $54,762

• 12 · Advertising and promotion

  total $24,374 · program services $18,570 · management and general $5,804

• 13 · Office expenses

  total $3,638,558 · program services $2,879,157 · management and general $759,401

• 16 · Occupancy

  total $2,015,767 · program services $1,546,790 · management and general $468,977

• 17 · Travel

  total $1,160,426 · program services $967,271 · management and general $193,155

• 19 · Conferences, conventions and meetings

  total $665,360 · program services $506,471 · management and general $158,889

• 20 · Interest

  total $172,652 · program services $172,652

• 22 · Depreciation, depletion and amortization

  total $1,490,991 · program services $1,151,477 · management and general $339,514

• 23 · Insurance

  total $593,595 · program services $457,963 · management and general $135,632

• 24a · Other expenses: Student Clothing & Pers

  total $614,936 · program services $200,773 · management and general $414,163

• 24b · Other expenses: Miscellaneous

  total $257,818 · program services $199,078 · management and general $58,740

• 24c · Other expenses: Bad Debt Expense

  total $108,606 · program services $108,606

• 24d · Other expenses: Farm

  total $2,320 · program services $2,320

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $16,857,614 · end of year $21,615,074

• 3 · Pledges and grants receivable

  beginning of year $3,526,101 · end of year $747,926

• 4 · Accounts receivable

  beginning of year $6,806,340 · end of year $8,361,893

• 5 · Loans and receivables from officers and key people

  beginning of year $0 · end of year $500,000

• 7 · Other notes and loans receivable

  beginning of year $0 · end of year $150,000

• 9 · Prepaid expenses and deferred charges

  beginning of year $538,016 · end of year $827,906

• 10a · Land, buildings and equipment: cost or other basis

  $25,520,561

• 10b · Land, buildings and equipment: accumulated depreciation

  $11,386,025

• 10c · Land, buildings and equipment, net

  beginning of year $13,227,883 · end of year $14,134,536

• 14 · Intangible assets

  beginning of year $1,035,965 · end of year $755,953

• 15 · Other assets

  beginning of year $203,316 · end of year $142,974

• 17 · Accounts payable and accrued expenses

  beginning of year $2,092,103 · end of year $2,567,231

• 23 · Secured mortgages and notes payable

  beginning of year $6,378,637 · end of year $5,689,265

• 25 · Other liabilities

  beginning of year $2,058,978 · end of year $1,554,798

• 27 · Net assets without donor restrictions

  beginning of year $31,665,517 · end of year $37,424,968

The filer's explanations (Part III)

Part I, Line 7

During 2023, bonuses were awarded to officers, key employees, and highest compensated employees based on peformance and merit.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• New Hampshire Youth Program for Motorsports LLC

  Other Schools and Instruction · NH · income $50,492 · assets $0

  Directly controlled by Mount Prospect Academy