Madison Academy in Madison, Tennessee (TN)

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Madison Academy
Employer Identification Number (EIN)620521202
Name of OrganizationMadison Academy
AddressPO BOX 1257, Madison, TN 37116
ActivitiesUnderwriting municipal insurance, Other religious activities
SubsectionReligious Organization
Ruling Date04/1947
DeductibilityContributions are deductible
FoundationChurch
OrganizationAssociation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2014
Assets$1,000,000 to $4,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 - Not required to file (church)
Asset Amount$2,000,801
Amount of Income$1,709,238
Form 990 Revenue Amount$1,491,681
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Secondary, High School


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Amount of income in 2014: $1,709,238 (it was $3,623,825 in 2013)
This organization: 

 $1,709,238
Other organizations performing similar types of work: 

 $2,322,318

Assets in 2014: $2,000,801 (it was $2,121,360 in 2013)
This organization: 

 $2,000,801
Other organizations performing similar types of work: 

 $2,175,848

Expenses in 2013: $3,933,038
This organization: 

 $3,933,038
Other organizations performing similar types of work: 

 $2,510,064

Income to expenses ratio in 2013: 0.4
This organization: 

 0.4
Other organizations performing similar types of work: 

 1.1

Number of employees in 2013: 194
This organization: 

 194
Other organizations performing similar types of work: 

 70

Grants share in income in 2013: 4.0%
Madison Academy: 

 4.0%
Other organizations performing similar types of work: 

 6.2%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Checklist
20122013
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?NoNo
Is the organization required to complete Schedule B, Schedule of Contributors?NoYes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?NoNo
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?NoNo
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?NoNo
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?NoNo
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?NoNo
Did the organization maintain collections of works of art, historical treasures, or other similar assets?NoNo
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?NoNo
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?NoNo
Did the organization report an amount for land, buildings, and equipment?YesYes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?NoNo
Did the organization report an amount for investments-program related that is 5% or more of its total assets?NoNo
Did the organization report an amount for other assets that is 5% or more of its total assets?NoNo
Did the organization report an amount for other liabilities?YesYes
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?NoNo
Did the organization obtain separate, independent audited financial statements for the tax year?NoNo
Was the organization included in consolidated, independent audited financial statements for the tax year?NoNo
Is the organization a school described in section 170(b)(1)(A)(ii)?NoNo
Did the organization maintain an office, employees, or agents outside of the United States?NoNo
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?NoNo
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?NoNo
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?NoNo
Did the organization report more than $15,000 total of fundraising event gross income and contributions?NoNo
Did the organization report more than $15,000 of gross income from gaming activities?NoNo
Did the organization operate one or more hospital facilities?NoNo
Did the organization attach a copy of its audited financial statements?NoNo
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?NoNo
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?NoNo
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?NoNo
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?NoNo
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?NoNo
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?NoNo
Did the organization engage in an excess benefit transaction with a disqualified person during the year?NoNo
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?NoNo
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?NoNo
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?NoNo
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?NoNo
A family member of a current or former officer, director, trustee, or key employee?NoNo
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?NoNo
Did the organization receive more than $25,000 in non-cash contributions?NoNo
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?NoNo
Did the organization liquidate, terminate, or dissolve and cease operations?NoNo
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?NoNo
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?NoNo
Was the organization related to any tax-exempt or taxable entity?NoNo
Did the organization have a controlled entity within the meaning of section 512(b)(13)?NoNo
Did the organization make any transfers to an exempt non-charitable related organization?NoNo
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?NoNo
Statements Regarding Other IRS Filings and Tax Compliance
201120122013
The number reported in Box 3 of Form 109600
The number of Forms W-2G00
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?NoNo
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return189194
Did the organization file all required federal employment tax returns?YesYes
Did the organization have unrelated business gross income of $1,000 or more during the year?YesYesYes
Has it filed a Form 990-T for this year?YesNo
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?NoNo
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNo
Did the organization file Form 8886-T?NoNo
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?NoNo
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?NoNo
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?NoNo
Did the organization notify the donor of the value of the goods or services provided?NoNo
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoNo
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?NoNo
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?NoNo
Did the sponsoring organization make any taxable distributions under section 4966?NoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNo
Initiation fees and capital contributions$0$0$0
Gross receipts for public use of club facilities $0$0$0
Gross income from members or shareholders$0$0$0
Gross income from other sources$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?NoNo
The amount of tax-exempt interest received or accrued during the year$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNo
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0$0
The amount of reserves on hand$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNo
Has it filed a Form 720 to report these payments?NoNo
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
20122013
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$0$0
Total reportable compensation from related organizations$0$0
Total estimated amount of other compensation from the organization and related organizations$0$0
Total number of individuals who received more than $100,000 of reportable compensation from the organization00
Total number of independent contractors who received more than $100,000 of compensation from the organization00
Statement of Revenue
201120122013
Total revenue$4,255,407$4,255,407$3,623,825
Contributions, Gifts, Grants and Other Similar Amounts$76,639$83,463$145,364
Program Service Revenue$680,454$680,454$888,059
0$680,454$888,059
All other program service revenue$0$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$7,915$7,915$11,457
Income from investment of tax-exempt bond proceeds$0$0$0
Royalties$0$0$0
Net rental income$219,045$0$0
Net gain/loss from sales of assets other than inventory$1,373$1,373$8,000
Gross amount from sales of assets other than inventory (Securities / Other)$1,373 / $0$1,373 / $0$8,000 / $0
Less: cost or other basis and sales expenses (Securities / Other)$0 / $0$0 / $0$0 / $0
Gain or (loss) (Securities / Other)$1,373 / $0$1,373 / $0$8,000 / $0
Net income/loss from fundraising events$0$0$0
Net income/loss from gaming activities$0$0$0
Net income/loss from sales of inventory$2,646,013$2,865,058$1,995,461
Gross sales of inventory, less returns and allowances$2,646,013$2,865,058$1,995,461
Less: cost of goods sold$0$0$0
Miscellaneous Revenue$623,968$617,144$575,484
0$105,088$80,376
0$495,385$496,577
0$11,178$1,505
All other revenue$5,493$-2,974
Statement of Functional Expenses
201120122013
Total functional expenses$4,444,071$4,444,071$3,933,038
Grants and other assistance to domestic organizations and domestic governments$0$0
Grants and other assistance to domestic individuals$0$0
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0$0
Benefits paid to or for members$0$0
Compensation of current officers, directors, trustees, and key employees$0$0$0
Compensation not included above, to disqualified persons$0$0
Other salaries and wages$0$0$0
Pension plan accruals and contributions$0$0
Other employee benefits$0$0
Payroll taxes$0$0$0
Fees for services (non-employees)
Management$0$0
Legal$0$0
Accounting$0$0
Lobbying$0$0
Professional fundraising services$0$0$0
Investment management fees$0$0
Other$0$0
Advertising and promotion$0$0
Office expenses$0$0
Information technology$0$0
Royalties$0$0
Occupancy$0$0
Travel$0$0
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0
Conferences, conventions, and meetings$0$0
Interest$0$0
Payments to affiliates$0$0
Depreciation, depletion, and amortization$0$0
Insurance$0$0
Other expenses$312,710$274,409
Other expenses$4,131,361$3,658,629
Balance Sheet
201120122013
Total assets$2,629,374$2,440,710$2,121,360
Cash - non-interest-bearing$13,046$73,773
Savings and temporary cash investments$0$0
Pledges and grants receivable, net$0$0
Accounts receivable, net$316,334$430,939
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0$0
Notes and loans receivable, net$37,619$38,741
Inventories for sale or use$60,999$59,082
Prepaid expenses and deferred charges$20,940$82,152
Land, buildings, and equipment: cost or other basis$1,951,160$1,373,887
Investments - publicly traded securities$0$0
Investments - other securities$0$0
Investments - program-related$0$0
Intangible assets$0$0
Other assets$40,612$62,786
Total liabilities$402,320$402,320$530,639
Accounts payable and accrued expenses$211,330$344,606
Grants payable$0$0
Deferred revenue$0$0
Tax-exempt bond liabilities$0$0$0
Escrow or custodial account liability$0$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0$0
Secured mortgages and notes payable to unrelated third parties$0$0$0
Unsecured notes and loans payable to unrelated third parties$0$0$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$190,990$186,033
Total net assets or fund balances$2,227,054$2,038,390$1,590,721
Unrestricted net assets$1,994,761$1,531,303
Temporarily restricted net assets$22,602$38,391
Permanently restricted net assets$21,027$21,027
Capital stock or trust principal, or current funds$0$0
Paid-in or capital surplus, or land, building, or equipment fund$0$0
Retained earnings, endowment, accumulated income, or other funds$0$0$0
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:A school described in section 170(b)(1)(A)(ii)
Number of organizations supported0
Sum of amounts of support$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Battle Ground Academy Of Franklin Tennessee336 Ernest Rice Ln, Franklin, TN 37069-6507TN1974-10$19,085,731
2West Sound AcademyPO BOX 807, Poulsbo, WA 98370-0807WA1998-06$2,057,829
3Wheaton Academy900 Prince Crossing Rd, West Chicago, IL 60185-5136IL1960-01$38,817,458
4Severn School Inc201 Water St, Severna Park, MD 21146-4522MD1973-02$28,082,060
5Trustees Of Thornton Academy438 Main St, Saco, ME 04072-1565ME1951-10$23,270,745
6Wichita Collegiate School9115 E 13th St N, Wichita, KS 67206-1214KS1957-09$19,494,805
7Randolph Macon Academy200 Academy Dr, Front Royal, VA 22630-2601VA1974-02$17,324,218
8Maranatha High School169 S Saint John Ave, Pasadena, CA 91105-1853CA1966-04$15,519,300
9Unity Christian High School Association3487 Oak St, Hudsonville, MI 49426-1005MI$13,145,949
10Stoneleigh-Burnham School574 Bernardston Rd, Greenfield, MA 01301-1102MA1941-12$9,192,901
11Washington AcademyPO BOX 190, East Machias, ME 04630-0190ME1947-11$8,975,019
12Yeshiva Of Greater Washington Inc2010 Linden Lane, Silver Spring, MD 20910-1700MD1984-06$8,480,812
13Shalhevet High School910 S Fairfax Ave, Los Angeles, CA 90036-4419CA1993-05$8,288,659
14Westminster Academy2500 Ridgeway Rd, Memphis, TN 38119-7445TN1996-08$4,445,458
15Madison AcademyPO BOX 1257, Madison, TN 37116TN1947-04$1,709,238
16Chamberlain Hunt Academy5100 Poplar Ave Ste 805, Memphis, TN 38137-0800TN1948-05$1,600,618
17Christian Academy Of Campbell County Inc2709 General Carl Stiner Hwy, Lafollette, TN 37766TN1994-03$416,543
18Bilandy Academy222 Church St, Dickson, TN 37055-1304TN1996-05$0
19Christ Classical Academy1005 Hwy 51 Bypass West, Dyersburg, TN 38024TN1995-09$0
20Heritage Academy Inc23100 Clarkmnge Hwy, Monterey, TN 38574TN1996-01$0
Number of organizations performing similar types of work
Alaska2
Alabama2
Arizona3
California33
Colorado5
Connecticut3
District of Columbia5
Delaware1
Florida13
Georgia7
Hawaii2
Iowa3
Idaho1
Illinois7
Indiana6
Kansas1
Kentucky2
Louisiana7
Massachusetts8
Maryland6
Maine7
Michigan11
Minnesota3
Missouri3
Montana1
North Carolina7
North Dakota1
Nebraska2
New Hampshire6
New Jersey6
New Mexico3
Nevada1
New York10
Ohio13
Oklahoma1
Oregon4
Pennsylvania8
Rhode Island2
South Carolina5
South Dakota1
Tennessee8
Texas10
Virginia8
Vermont6
Washington7
Wisconsin3
West Virginia5
Wyoming1
International1
Total261
20 biggest affiliated organizations
AffiliationNameAddressStateEstablishedTotal Income
SubordinateLoma Linda UniversityPO BOX 2000, Loma Linda, CA 92354-0200CA1950-01$3,315,441,382
SubordinateAdventist Health System Sunbelt Inc900 Hope Way, Altamonte Spg, FL 32714-1502FL1950-01$3,232,259,164
SubordinateSeventh-Day Adventists Loma Linda University Medical Center IncPO BOX 2000, Loma Linda, CA 92354-0200CA1947-04$1,288,000,186
SubordinatePortercare Adventist Health System, Dba Parker Adventist Hospital3025 S Parker Road Suite 510, Aurora, CO 80014-2911CO1931-09$980,380,702
SubordinateAdventist Healthcare Inc, Adventist Behavioral Health Eastern820 W Diamond Ave Ste 600, Gaithersburg, MD 20878-1469MD1947-04$819,910,080
SubordinateKettering College2110 Leiter Rd, Miamisburg, OH 45342-3598OH1947-04$682,488,958
SubordinateAdventist Health System Sunbelt Healthcare Corporation900 Hope Way, Altamonte Spg, FL 32714-1502FL1947-04$535,227,154
SubordinateDayton Osteopathic Hospital, Dba Southview Medical Center2110 Leiter Rd, Miamisburg, OH 45342-3598OH1947-04$333,694,111
SubordinatePortland Adventist Medical Center10123 Se Market St, Portland, OR 97216-2532OR1947-04$317,892,351
SubordinateAdventist Health System-West, Adventist Health2100 Douglas Blvd, Roseville, CA 95661-3898CA1947-04$296,500,295
SubordinateMemorial Health Systems Inc, Florida Hospital Memorial Med Ctr770 W Granada Blvd Ste 101, Ormond Beach, FL 32174-5179FL1947-04$255,596,080
SubordinateSonora Community Hospital, Dba Sonora Regional Medical Center1000 Greenley Rd, Sonora, CA 95370-5200CA1947-04$210,628,521
SubordinateFlorida Hospital Waterman Inc1000 Waterman Way, Tavares, FL 32778-5266FL1992-07$204,408,195
SubordinateSt Helena Hospital10 Woodland Rd, Saint Helena, CA 94574-9554CA1947-04$195,787,857
SubordinateFeather River Hospital5974 Pentz Rd, Paradise, CA 95969-5509CA1993-07$184,528,992
SubordinateMemorial Hospital Flagler Inc, Florida Hospital-Flagler770 W Granada Blvd Ste 101, Ormond Beach, FL 32174-5179FL1947-04$164,824,429
SubordinateSouthwest Volusia Healthcare Corporation, Florida Hospital Fish Memorial1055 Saxon Blvd, Orange City, FL 32763-8468FL1950-01$130,165,075
SubordinateHackettstown Community Hospital, Hackettstown Regional Medical Ctr651 Willow Grove St, Hackettstown, NJ 07840-1799NJ1950-01$128,807,563
SubordinateMemorial Hospital-West Volusia Inc, Florida Hospital Deland701 W Plymouth Ave, Deland, FL 32720-3236FL1947-04$123,138,698
SubordinateUkiah Adventist Hospital, Ukiah Valley Medical Ctr275 Hospital Dr, Ukiah, CA 95482-4531CA1947-04$117,655,223
Number of affiliated organizations
Alaska6
Alabama13
Arkansas12
Arizona18
California170
Colorado27
Connecticut13
District of Columbia2
Delaware2
Florida103
Georgia36
Hawaii11
Iowa8
Idaho21
Illinois25
Indiana19
Kansas15
Kentucky17
Louisiana10
Massachusetts20
Maryland56
Maine7
Michigan53
Minnesota15
Missouri15
Mississippi8
Montana16
North Carolina31
North Dakota4
Nebraska11
New Hampshire5
New Jersey15
New Mexico5
Nevada7
New York51
Ohio27
Oklahoma11
Oregon47
Pennsylvania22
Rhode Island3
South Carolina12
South Dakota3
Tennessee39
Texas56
Utah7
Virginia23
Vermont6
Washington50
Wisconsin14
West Virginia9
Wyoming2
International3
Total1,181

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