WASATCH ACADEMY

EIN: 870290194 501(c)(3) Education

MT PLEASANT, UT

Total Revenue
$14,816,131
Total Expenses
$16,569,479
Total Assets
$44,192,456
Net Assets
$37,369,180
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1972
Legal Domicile
UT
Principal Officer
PAUL APPLEGARTH
Phone
4354622411
Tax Period
2023-07-01 to 2024-06-30

WASATCH ACADEMY, founded in 1972, is a mid-sized nonprofit in the Education sector that reported $14.8M in total revenue in fiscal year 2023. Revenue decreased 8% compared to the prior year. Expenses of $16.6M exceeded revenue, resulting in a 12% operating deficit.

Mission

WASATCH ACADEMY IS A NURTURING COMMUNITY EMPOWERING YOUNG PEOPLE TO DEVELOP ACADEMICALLY, SOCIALLY, EMOTIONALLY, PHYSICALLY, AND ETHICALLY, BY PREPARING THEM FOR THE OPPORTUNITY OF COLLEGE, WORK, AND A LIFETIME OF LEARNING AND CONTRIBUTING TO OUR GLOBAL SOCIETY.

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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 (2023)

Revenue Breakdown

Contributions & Grants $1,094,779
Program Service Revenue $13,230,993
Investment Income $490,359
Other Revenue $0
TOTAL REVENUE $14,816,131

Expense Breakdown

Grants Paid $2,991,831
Salaries & Benefits $7,648,767
Fundraising Expenses $167,638
Program Expenses $13,851,103
Other Expenses $5,928,881
TOTAL EXPENSES $16,569,479

Year-over-Year Comparison

2023 2022 Change
Revenue $14,816,131 $16,158,875 -0.1%
Expenses $16,569,479 $16,951,881 0.0%
Net Income $-1,753,348 $-793,006 +1.2%
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
13
Independent Members
13
Employees
191
Volunteers
50

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
5
$324,000
Total Directors
14
$324,000
Key Employees
1
$217,944
Highest Compensated
4
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BILL BEDFORD TRUSTEE 0.00
Director
$0 $0 $0
JOE PORTER TRUSTEE 0.00
Director
$0 $0 $0
BLAKE REEMTSMA TRUSTEE 0.00
Director
$0 $0 $0
TOM PETERSON TRUSTEE 0.00
Director
$0 $0 $0
HADYN DAUGS MEMBER AT LARGE 0.00
Director
$0 $0 $0
JERRY HU TRUSTEE 0.00
Director
$0 $0 $0
RICK DIVAS TRUSTEE 0.00
Director
$0 $0 $0
TANA JAMBALDORJ TRUSTEE 0.00
Director
$0 $0 $0
LONNIE ELLIS PRESIDENT 0.00
Officer Director
$0 $0 $0
ALEXA STANGER TRUSTEE 0.00
Director
$0 $0 $0
GREGG GALECKI SECRETARY 0.00
Officer Director
$0 $0 $0
MICHAEL MURPHY TREASURER 0.00
Officer Director
$0 $0 $0
ROBERT KIMSEY VICE PRESIDENT 0.00
Officer Director
$0 $0 $0
ANNE-EVAN WILLIAMS HEAD OF SCHOOL 40.00
Officer Director
$300,000 $24,000 $324,000
PAUL APPLEGARTH CFO 40.00
Key Emp
$201,800 $16,144 $217,944
GRAHAM JESSEE ASSISTANT HEAD OF SCHOOL FOR GLOBAL INITIATIVES 40.00
Highest
$130,000 $10,400 $140,400
TYLER KENNEDY ASSISTANT HEAD OF SCHOOL FOR STUDENT LIFE 40.00
Highest
$131,400 $10,512 $141,912
KERRY BEDELL ASSISTANT HEAD OF SCHOOL FOR INSTITUTIONAL ADVANCE 40.00
Highest
$124,500 $9,960 $134,460
JONELLE LARSEN ASSISTANT HEAD OF SCHOOL FOR ACADEMIC PROGRAMS 40.00
Highest
$102,600 $5,130 $107,730
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 No data No data No data No data
2024 $14,816,131 $16,569,479 $44,192,456 $-1,753,348
2023 $16,158,875 $16,951,881 $45,187,850 $-793,006
2022 $17,823,805 $16,375,497 $45,866,695 $1,448,308
2021 $19,477,280 $16,580,089 $45,204,427 $2,897,191
2020 $23,011,551 $20,864,471 $41,647,203 $2,147,080
2019 $22,311,821 $21,259,615 $42,515,048 $1,052,206
2018 $23,824,566 $21,592,100 $42,249,769 $2,232,466
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