Socrates Academy Inc
- Assets
- $5.7m
- Revenue
- $8.9m
- Investments
- $0.0
- Employees
- 139
- Location
- Matthews, NC
- Founding
- 02/2007
- Data as of
- 06/2022
- EIN
- 20-1361228
Organization Overview
Socrates Academy Inc is located in Matthews, NC. The organization was established in 2007. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2022, Socrates Academy Inc employed 139 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Socrates Academy Inc 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, Socrates Academy Inc generated $8.9m in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 8.6% each year. All expenses for the organization totaled $7.5m during the year ending 06/2022. While expenses have increased by 2.2% 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
OPERATE A CHARTER SCHOOL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATE A PUBLIC CHARTER SCHOOL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lena Bakis Business Manager | Officer | 40 | $37,493 |
John Couchell Vice Pres | OfficerTrustee | 2 | $0 |
Larry Peroulas Pres | OfficerTrustee | 2 | $0 |
Antonis Stylianou V President | OfficerTrustee | 2 | $0 |
Zoi Philippakos Member | Trustee | 2 | $0 |
Rhonda Patterson Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $8,343,272 |
| All other contributions, gifts, grants, and similar amounts not included above | $170,695 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,513,967 |
| Total Program Service Revenue | $129,372 |
| Investment income | $0 |
| 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 | $8,884,634 |
| 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. | $125,393 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,246,577 |
| Pension plan accruals and contributions | $861,187 |
| Other employee benefits | $444,590 |
| Payroll taxes | $325,838 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,128 |
| Fees for services: Accounting | $7,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $497 |
| Office expenses | $90,294 |
| Information technology | $25,376 |
| Royalties | $0 |
| Occupancy | $63,497 |
| Travel | $8,558 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,948 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,805 |
| Insurance | $55,991 |
| All other expenses | $72,657 |
| Total functional expenses | $7,493,020 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,927,229 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $263,447 |
| 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 | $9,410 |
| Net Land, buildings, and equipment | $83,890 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,387,097 |
| Total assets | $5,671,073 |
| Accounts payable and accrued expenses | $292,568 |
| 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 | $10,051,299 |
| Total liabilities | $10,343,867 |
| Net assets without donor restrictions | -$4,768,319 |
| Net assets with donor restrictions | $95,525 |
| 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 | $5,671,073 |