Rocky Mountain Classical Academy
Rocky Mountain Classical Academy shows strong program spending and revenue growth, but carries significant liabilities.
EIN: 204543388 · Colorado Spgs, CO · NTEE: B29 · Updated: 2026-03-28
Is Rocky Mountain Classical Academy Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Rocky Mountain Classical Academy directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Rocky Mountain Classical Academy
Rocky Mountain Classical Academy (EIN: 204543388) is a nonprofit organization based in Colorado Spgs, CO, classified under NTEE code B29. The organization reported total revenue of $19.3M and total assets of $12.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Rocky Mountain Classical Academy's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Rocky Mountain Classical Academy is a large nonprofit that has been operating for 18 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 9.7%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $19.2M |
| Total Expenses | $18.7M |
| Surplus / Deficit | +$544K |
| Total Assets | $12.9M |
| Total Liabilities | $16.6M |
| Net Assets | $-3,723,518 |
| Operating Margin | 2.8% |
| Debt-to-Asset Ratio | 128.9% |
| Months of Reserves | 8.3 months |
Financial Health Grade: A
In 2024, Rocky Mountain Classical Academy reported a surplus of $544K with revenue exceeding expenses, holds 8.3 months of operating reserves (strong position), has a debt-to-asset ratio of 128.9% (high leverage).
Financial Trends
Over 14 years of filings (2011–2024), Rocky Mountain Classical Academy's revenue has grown at a compound annual growth rate (CAGR) of 9.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +20.5% | +15.0% | +31.0% |
| 2023 | +10.8% | +52.8% | +7.1% |
| 2022 | +8.7% | +9.2% | -7.5% |
| 2021 | +8.3% | -23.5% | -78.1% |
| 2020 | -1.1% | -0.6% | -3.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2008 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Rocky Mountain Classical Academy with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Rocky Mountain Classical Academy allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $544K, with revenue exceeding expenses.
- Debt-to-asset ratio: 128.9%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that its top leadership may be volunteer-based or compensated through other means not categorized as officer compensation, which is a positive sign for resource allocation directly to mission.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Rocky Mountain Classical Academy's IRS 990 filings:
- Consistent negative net assets (liabilities exceeding assets) across multiple years, e.g., $16,615,560 liabilities vs. $12,892,042 assets in 202406.
Strengths
The following positive indicators were identified for Rocky Mountain Classical Academy:
- Strong program spending ratio, indicating a high percentage of expenses directly supporting its mission.
- Consistent revenue growth over the past several years, from $9.78M in 201606 to $19.25M in 202406.
- Officer compensation consistently reported as 0%, suggesting efficient use of funds at the executive level.
- Annual revenues consistently cover annual expenses, as seen in 202406 where revenue ($19,249,224) exceeded expenses ($18,705,211).
Frequently Asked Questions about Rocky Mountain Classical Academy
Is Rocky Mountain Classical Academy a legitimate charity?
Based on AI analysis of IRS 990 filings, Rocky Mountain Classical Academy (EIN: 204543388) some concerns. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
How does Rocky Mountain Classical Academy spend its money?
Rocky Mountain Classical Academy directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Rocky Mountain Classical Academy tax-deductible?
Rocky Mountain Classical Academy is registered as a tax-exempt nonprofit (EIN: 204543388). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Rocky Mountain Classical Academy a good charity?
Based on the available data, Rocky Mountain Classical Academy appears to be an effective organization in terms of program delivery and financial management, consistently spending a high percentage on its mission and growing its revenue. However, its significant liabilities warrant further investigation to fully assess long-term financial health.
What is the nature of Rocky Mountain Classical Academy's significant liabilities?
The IRS 990 data shows liabilities consistently exceeding assets, for instance, $16,615,560 in liabilities against $12,892,042 in assets in 202406. This could be due to long-term debt for facilities or other capital investments, which is common for educational institutions, but the specific breakdown is not detailed in the provided summary.
How has Rocky Mountain Classical Academy's revenue grown over time?
Rocky Mountain Classical Academy has demonstrated strong revenue growth, increasing from $9,783,382 in 201606 to $19,249,224 in 202406, nearly doubling its income over an eight-year period.
Filing History
IRS 990 filing history for Rocky Mountain Classical Academy showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Rocky Mountain Classical Academy's revenue has grown by 232%, moving from $5.8M to $19.2M. Total assets increased by 275.9% over the same period, from $3.4M to $12.9M. Total functional expenses rose by 264.2%, from $5.1M to $18.7M. In its most recent filing year (2024), Rocky Mountain Classical Academy reported a surplus of $544K, with revenue exceeding expenses. The organization holds $16.6M in liabilities against $12.9M in assets (debt-to-asset ratio: 128.9%), resulting in net assets of $-3,723,518.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $19.2M | $18.7M | $12.9M | $16.6M | — | View 990 |
| 2023 | $16.0M | $16.3M | $9.8M | $14.1M | — | View 990 |
| 2022 | $14.4M | $10.6M | $9.2M | $13.2M | — | View 990 |
| 2021 | $13.3M | $9.7M | $9.9M | $17.7M | — | View 990 |
| 2020 | $12.3M | $12.7M | $45.5M | $62.9M | — | View 990 |
| 2019 | $12.4M | $12.8M | $46.9M | $63.8M | — | View 990 |
| 2018 | $11.2M | $18.3M | $50.7M | $67.4M | — | View 990 |
| 2017 | $10.8M | $13.6M | $38.5M | $47.6M | — | View 990 |
| 2016 | $9.8M | $9.4M | $30.9M | $37.2M | — | View 990 |
| 2015 | $7.9M | $10.4M | $29.2M | $36.4M | — | View 990 |
| 2014 | $5.8M | $6.0M | $30.6M | $28.6M | — | View 990 |
| 2013 | $5.2M | $4.6M | $4.1M | $1.9M | — | View 990 |
| 2012 | $5.1M | $4.4M | $3.7M | $2.0M | — | View 990 |
| 2011 | $5.8M | $5.1M | $3.4M | $2.4M | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $19.2M, expenses of $18.7M, and assets of $12.9M (revenue +20.5% year-over-year).
- 2023: Revenue of $16.0M, expenses of $16.3M, and assets of $9.8M (revenue +10.8% year-over-year).
- 2022: Revenue of $14.4M, expenses of $10.6M, and assets of $9.2M (revenue +8.7% year-over-year).
- 2021: Revenue of $13.3M, expenses of $9.7M, and assets of $9.9M (revenue +8.3% year-over-year).
- 2020: Revenue of $12.3M, expenses of $12.7M, and assets of $45.5M (revenue -1.1% year-over-year).
- 2019: Revenue of $12.4M, expenses of $12.8M, and assets of $46.9M (revenue +11.0% year-over-year).
- 2018: Revenue of $11.2M, expenses of $18.3M, and assets of $50.7M (revenue +3.2% year-over-year).
- 2017: Revenue of $10.8M, expenses of $13.6M, and assets of $38.5M (revenue +10.5% year-over-year).
- 2016: Revenue of $9.8M, expenses of $9.4M, and assets of $30.9M (revenue +23.4% year-over-year).
- 2015: Revenue of $7.9M, expenses of $10.4M, and assets of $29.2M (revenue +36.2% year-over-year).
- 2014: Revenue of $5.8M, expenses of $6.0M, and assets of $30.6M (revenue +13.0% year-over-year).
- 2013: Revenue of $5.2M, expenses of $4.6M, and assets of $4.1M (revenue +1.7% year-over-year).
- 2012: Revenue of $5.1M, expenses of $4.4M, and assets of $3.7M (revenue -12.6% year-over-year).
- 2011: Revenue of $5.8M, expenses of $5.1M, and assets of $3.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Rocky Mountain Classical Academy:
Data Sources and Methodology
This transparency report for Rocky Mountain Classical Academy is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.