LIBERTY CLASSICAL ACADEMY

EIN: 412000702 501(c)(3) Education

WHITE BEAR LAKE, MN

Total Revenue
$9,754,165
Total Expenses
$7,329,691
Total Assets
$21,522,102
Net Assets
$20,113,059
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2001
Legal Domicile
MN
Principal Officer
REBEKAH HAGSTROM
Phone
6517722777
Tax Period
2024-07-01 to 2025-06-30

LIBERTY CLASSICAL ACADEMY, founded in 2001, is a community nonprofit in the Education sector that reported $9.8M in total revenue in fiscal year 2024. Revenue fell 34% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $2.4M, a strong 25% operating margin.

Mission

LIBERTY CLASSICAL ACADEMY IS AN INDEPENDENT PRIVATE SCHOOL OFFERING COLLEGE-PREPARATORY ACADEMICS AND CHRISTIAN FAITH IN THE CLASSICAL TRADITION FOR MINNEAPOLIS-ST. PAUL STUDENTS IN PRESCHOOL AND KINDERGARTEN THROUGH THE 12TH GRADE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $3,475,686
Program Service Revenue $6,211,120
Investment Income $62,703
Other Revenue $4,656
TOTAL REVENUE $9,754,165

Expense Breakdown

Grants Paid $1,155,956
Salaries & Benefits $4,377,195
Fundraising Expenses $262,975
Program Expenses $5,707,448
Other Expenses $1,796,540
TOTAL EXPENSES $7,329,691

Year-over-Year Comparison

2024 2023 Change
Revenue $9,754,165 $14,669,825 -0.3%
Expenses $7,329,691 $7,173,458 +0.0%
Net Income $2,424,474 $7,496,367 -0.7%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

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Liquidity & Cash Position

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Governance

Voting Members
7
Independent Members
6
Employees
119
Volunteers
138

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
2
$212,901
Total Directors
7
$135,381
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
REBEKAH HAGSTROM HEADMASTER/P 40.00
Officer Director
$109,381 $26,000 $135,381
MARIE WHITEHEAD FINANCE DIR/ 40.00
Officer
$76,000 $1,520 $77,520
GREG BOURGOND BOARD MEMBER 1.00
Director
$0 $0 $0
JOHN GAUGER BOARD MEMBER 1.00
Director
$0 $0 $0
SARA MERRITT BOARD MEMBER 1.00
Director
$0 $0 $0
DAN NELSON BOARD MEMBER 1.00
Director
$0 $0 $0
SCOTT SOCHAY BOARD MEMBER 1.00
Director
$0 $0 $0
MELANIE ZAHLER BOARD MEMBER 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $9,754,165 $7,329,691 $21,522,102 $2,424,474
2024 $14,669,825 $7,173,458 $17,915,796 $7,496,367
2023 $10,270,140 $6,339,651 $10,506,539 $3,930,489
2022 $9,261,732 $4,558,989 $6,977,009 $4,702,743
2021 $4,486,494 $3,649,386 $1,655,139 $837,108
2020 $3,163,853 $3,217,582 $1,154,028 $-53,729
2019 $3,318,660 $3,113,805 $834,448 $204,855
2018 $2,936,777 $2,776,036 $694,486 $160,741
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