Polaris Charter Academy
- Assets
- $3.8m
- Revenue
- $6.1m
- Investments
- $0.0
- Employees
- 82
- Location
- Chicago, IL
- Founding
- 03/2008
- Data as of
- 06/2022
- EIN
- 01-0874029
Organization Overview
Polaris Charter Academy is located in Chicago, IL. The organization was established in 2008. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Polaris Charter Academy employed 82 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Polaris Charter Academy is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Polaris Charter Academy generated $6.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $5.9m during the year ending 06/2022. While expenses have increased by 2.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF POLARIS CHARTER ACADEMY IS TO EDUCATE STUDENTS TO BE SELF-MOTIVATED, CREATIVE, CRITICAL THINKERS, WITH THE ULTIMATE GOAL OF SHAPING LIFE-LONG LEARNERS AND CITIZENS WITH A STRONG SENSE OF PERSONAL AND CIVIC RESPONSIBILITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
POLARIS CHARTER ACADEMY IS A K-8 SCHOOL IN THE WEST HUMBOLDT PARK NEIGHBORHOOD OF CHICAGO. POLARIS IS A RECOGNIZED LEADER IN A RIGOROUS AND ENGAGING APPROACH TO TEACHING AND LEARNING. AS AN EL EDUCATION CREDENTIALED MENTOR SCHOOL, POLARIS STUDENTS ENGAGE IN LEARNING EXPEDITIONS THAT TIE STANDARDS TO MEANINGFUL WORK FOCUSED ON FINDING COMPLEX SOLUTIONS TO REAL WORLD PROBLEMS AROUND ISSUES OF SOCIAL JUSTICE. POLARIS CHARTER ACADEMY HAS HAD A BROAD IMPACT ON NATIONAL AND INTERNATIONAL EDUCATION. POLARIS STUDENTS HAVE GIVEN THE KEYNOTE ADDRESS AT BOTH THE EL EDUCATION NATIONAL CONFERENCE AND THE HEWLETT FOUNDATION'S DEEPER LEARNING CONFERENCE. TEACHERS AND ADMINISTRATORS HAVE PRESENTED THEIR WORK BOTH NATIONALLY AND INTERNATIONALLY TO THOUSANDS OF EDUCATORS. POLARIS IS FEATURED AS AN EXEMPLARY SCHOOL MODEL IN PAUL TOUGH'S BOOK HELPING CHILDREN SUCCEED, AND POLARIS STUDENT WORK IS FEATURED IN THE HARVARD GRADUATE SCHOOL OF EDUCATION'S ONLINE ARCHIVE "MODELS OF EXCELLENCE". POLARIS CHARTER ACADEMY IS A LEVEL 1 SCHOOL WHERE 8TH GRADE GRADUATES SUCCESSFULLY TRANSITION TO TOP HIGH SCHOOLS AROUND THE CITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michelle Navarre Head Of School/member | OfficerTrustee | 40 | $187,983 |
Francesca Verdecchia Director Of Culture & Character | 40 | $105,443 | |
Tammy Vance Director Of Community Engagement | 40 | $101,774 | |
Tina Yarovsky Board Chair | OfficerTrustee | 1 | $0 |
Michael Davison Treasurer | OfficerTrustee | 1 | $0 |
Lacey Mizell Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $92,723 |
| Related organizations | $0 |
| Government grants | $5,328,826 |
| All other contributions, gifts, grants, and similar amounts not included above | $408,561 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,830,110 |
| Total Program Service Revenue | $245,188 |
| Investment income | $302 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$20,662 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,074,897 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $243,684 |
| Compensation of current officers, directors, key employees. | $96,521 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,383,547 |
| Pension plan accruals and contributions | $327,334 |
| Other employee benefits | $471,984 |
| Payroll taxes | $160,898 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $30,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $231,294 |
| Advertising and promotion | $0 |
| Office expenses | $173,466 |
| Information technology | $71,075 |
| Royalties | $0 |
| Occupancy | $105,576 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $89,304 |
| Insurance | $31,629 |
| All other expenses | $69,586 |
| Total functional expenses | $5,908,060 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,953,820 |
| Pledges and grants receivable | $17,599 |
| Accounts receivable, net | $273,729 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $65,555 |
| Net Land, buildings, and equipment | $442,337 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,753,040 |
| Accounts payable and accrued expenses | $280,105 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $280,105 |
| Net assets without donor restrictions | $3,145,624 |
| Net assets with donor restrictions | $327,311 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,753,040 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Polaris Charter Academy has recieved totaling $186,291.
| Awarding Organization | Amount |
|---|---|
Madigan Family Foundation Chicago, IL PURPOSE: CHARITABLE PURPOSE | $150,000 |
John D & Catherine T Macarthur Foundation Chicago, IL PURPOSE: IN SUPPORT OF GENERAL OPERATIONS. | $7,500 |
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $7,500 |
John D & Catherine T Macarthur Foundation Chicago, IL PURPOSE: IN SUPPORT OF GENERAL OPERATIONS. | $7,500 |
John D & Catherine T Macarthur Foundation Chicago, IL PURPOSE: IN SUPPORT OF GENERAL OPERATIONS. | $7,500 |
American Express Foundation New York, NY PURPOSE: GENERAL SUPPORT | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bernard Zell Anshe Emet Day School Chicago, IL | $69,026,609 | $20,320,544 |
Heritage Christian Schools Inc Indianapolis, IN | $19,759,630 | $19,173,955 |
Academy Of Basic Education Inc Brookfield, WI | $40,498,539 | $16,384,035 |
Summit Christian Academy Lees Summit, MO | $26,556,183 | $15,642,141 |
Orchard School Foundation Inc Indianapolis, IN | $60,553,415 | $15,394,463 |
Oaks Academy Inc Indianapolis, IN | $7,476,421 | $17,454,996 |
Near North Montessori School Chicago, IL | $38,573,944 | $16,517,378 |
Madison Country Day School Inc Waunakee, WI | $14,581,268 | $10,698,482 |
Bsds Inc Kansas City, MO | $14,798,906 | $10,020,061 |
Community School Association Saint Louis, MO | $35,306,826 | $7,869,470 |
Morgan Park Academy Chicago, IL | $7,353,923 | $9,629,614 |
Elgin Academy Elgin, IL | $16,000,808 | $8,213,882 |