Glass City Academy
- Assets
- $5.5m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Toledo, OH
- Founding
- 07/2005
- Data as of
- 06/2022
- EIN
- 04-3748316
Organization Overview
Glass City Academy is located in Toledo, OH. The organization was established in 2005. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Glass City 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, Glass City Academy generated $3.0m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 10.3% each year . All expenses for the organization totaled $3.4m during the year ending 06/2022. While expenses have increased by 7.2% per year over the past 3 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
TO PROVIDE A SECOND CHANCE TO YOUNG ADULTS TO COMPLETE HIGH SCHOOL, LEARN READILY MARKETABLE WORK SKILLS, AND EXPLORE POST-SECONDARY TRAINING OPTIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE A SECOND CHANCE TO YOUNG ADULTS TO COMPLETE HIGH SCHOOL, LEARN READILY MARKETABLE WORK SKILLS, AND EXPLORE POST-SECONDARY TRAINING OPTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Darlene Burke Board President | OfficerTrustee | 0.5 | $1,000 |
Jerry Masters Vice President | Trustee | 0.5 | $900 |
Lynne Jacobson Board Member | Trustee | 0.5 | $1,000 |
Fred Porter Board Member | Trustee | 0.5 | $500 |
Joseph Guziolek Board Member | Trustee | 0.5 | $700 |
Dan Lamb Treasurer | Officer | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
T E Properties Rent | 6/29/20 | $248,413 |
Paramount Insurance Company Hospitalization | 6/29/20 | $224,034 |
Epiphany Of He Lord Parish Sponsor | 6/29/20 | $124,630 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,024,629 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,024,629 |
| Total Program Service Revenue | $0 |
| Investment income | $377 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,036,785 |
| 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. | $4,100 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,722,097 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $727,608 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $284,728 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $82,670 |
| Royalties | $0 |
| Occupancy | $143,708 |
| Travel | $3,011 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $21,921 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $331,733 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $3,448,945 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,514,053 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,223 |
| 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 | $28,236 |
| Net Land, buildings, and equipment | $650,917 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,279,677 |
| Total assets | $5,493,106 |
| Accounts payable and accrued expenses | $155,121 |
| 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 | $6,014,344 |
| Total liabilities | $6,169,465 |
| Net assets without donor restrictions | -$676,359 |
| Net assets with donor restrictions | $0 |
| 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 | $5,493,106 |