Chance Academy
- Assets
- $1.2m
- Revenue
- $995.8k
- Investments
- $0.0
- Employees
- 15
- Location
- Washington, DC
- Founding
- 12/2007
- Data as of
- 08/2023
- EIN
- 13-4361892
Organization Overview
Chance Academy is located in Washington, DC. The organization was established in 2007. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 08/2023, Chance Academy employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chance 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 08/2023, Chance Academy generated $995.8k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.5% each year. All expenses for the organization totaled $1.7m during the year ending 08/2023. While expenses have increased by 14.6% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF CHANCE ACADEMY IS TO BE AN EDUCATIONAL COMMUNITY THAT SERVES AS A CENTER FOR LEARNING FOR STUDENTS AND THEIR FAMILIES AND FOSTERS ENVIRONMENTAL STEWARDSHIP, WELLNESS, PEACE-BUILDING, CULTURAL LITERACY, AND COMMUNITY AND BELONGING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN OUR PROGRAM, CHILDREN, THEIR FAMILIES, AND THE COMMUNITY UNITE TO CREATE A HEALTHY AND SUPPORTIVE LEARNING ENVIRONMENT THAT ALLOWS EACH CHILD TO REACH THEIR HIGHEST POTENTIAL. WE ACCOMPLISH THIS BY PROMOTING INTELLECTUAL GROWTH, CRITICAL THINKING SKILLS, SOCIO-EMOTIONAL DEVELOPMENT, PERSONAL WELLNESS, CREATIVITY, AND RESTORATIVE JUSTICE PRACTICES. THIS COMPREHENSIVE APPROACH ENSURES THAT OUR PARTICIPANTS GRADUATE WITH THE CONFIDENCE TO PURSUE THEIR NEXT EDUCATIONAL OR CAREER PATH, BALANCED WITH A STRONG FOUNDATION FOR BEING INFORMED AND THOUGHTFUL GLOBAL CITIZENS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anna Bernanke Executive Director | OfficerTrustee | 40 | $0 |
Maia Falconi-Sachs President | OfficerTrustee | 0.5 | $0 |
Celeste Nunez Secretary | OfficerTrustee | 0.5 | $0 |
Mildred Musgrove Treasurer | OfficerTrustee | 0.5 | $0 |
Rosalia Gh Miller Director | Trustee | 0.5 | $0 |
Marilyn Benoit Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,085,666 |
| Noncash contributions included in lines 1a–1f | $10,096 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,085,666 |
| Total Program Service Revenue | $90,375 |
| Investment income | $11,047 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$192,745 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $995,828 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $28,475 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,100,203 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $12,250 |
| Payroll taxes | $91,975 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $72,689 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $52,000 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $200 |
| Office expenses | $57 |
| Information technology | $4,458 |
| Royalties | $0 |
| Occupancy | $113,117 |
| Travel | $3,768 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $61,418 |
| Interest | $1 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,158 |
| Insurance | $10,089 |
| All other expenses | $42,171 |
| Total functional expenses | $1,677,119 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $814,358 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $172,787 |
| Accounts receivable, net | $1,478 |
| 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 | $20,800 |
| Net Land, buildings, and equipment | $2,210 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $211,407 |
| Total assets | $1,223,040 |
| Accounts payable and accrued expenses | $38,822 |
| 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 | $363,408 |
| Total liabilities | $402,230 |
| Net assets without donor restrictions | $710,523 |
| Net assets with donor restrictions | $110,287 |
| 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 | $1,223,040 |