Institute Of Academic Excellence
- Assets
- $6.8m
- Revenue
- $7.7m
- Investments
- $0.0
- Employees
- 86
- Location
- New Orleans, LA
- Founding
- 11/2007
- Data as of
- 06/2022
- EIN
- 20-2870669
Organization Overview
Institute Of Academic Excellence, operating under the name Sophie B Wright Charter School, is located in New Orleans, LA. 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, Sophie B Wright Charter School employed 86 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sophie B Wright Charter School 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, Sophie B Wright Charter School generated $7.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $7.3m during the year ending 06/2022. While expenses have increased by 7.1% 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
TO CREATE A COMMUNITY WHERE STUDENTS ARE CHALLENGED ACADEMICLY, SOCIALLY, AND VOCATIONALLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SOPHIE B. WRIGHT CHARTER SCHOOL PROVIDES A SAVE AND NURTURING ENVIRONMENT TO STUDENTS IN WHICH IT COLLABORATES DAILY TO ENSURE THAT THE STUDENTS DEVELOP CONFIDENCE, COMPETENCE AND INDEPENDENT CAPACITY THROUGH DELIVERY OF A RIGOROUS CURRICULUM AND APPROPIATE RESEARCH BASED INSTRUCTION. SOPHIE B. WRIGHT CHARTER SCHOOL SERVED 156 DURING 21-22.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Watson President | OfficerTrustee | 1 | $0 |
Alvin Porter Vice President | OfficerTrustee | 1 | $0 |
Reginald Delecia Board Member | Trustee | 1 | $0 |
Corey Watson Board Member | Trustee | 1 | $0 |
Bernard Griffith Board Member | Trustee | 1 | $0 |
Janie Malveaux Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sysco Food Service Food Services | 6/29/20 | $208,896 |
Abacus Education Partners Accounting Services | 6/29/20 | $115,344 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $7,512,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $55,273 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,567,273 |
| Total Program Service Revenue | $0 |
| Investment income | $694 |
| 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 | $7,672,609 |
| 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. | $382,887 |
| Compensation of current officers, directors, key employees. | $382,887 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,640,849 |
| Pension plan accruals and contributions | $50,640 |
| Other employee benefits | $388,888 |
| Payroll taxes | $262,259 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,120 |
| Fees for services: Accounting | $42,258 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $632,421 |
| Advertising and promotion | $0 |
| Office expenses | $238,469 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $749,741 |
| Travel | $8,367 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $32,007 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $119,015 |
| Insurance | $65,319 |
| All other expenses | $0 |
| Total functional expenses | $7,304,973 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,979,325 |
| Savings and temporary cash investments | $3,407,886 |
| Pledges and grants receivable | $731,556 |
| Accounts receivable, net | $0 |
| 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 | $94,664 |
| Net Land, buildings, and equipment | $631,945 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,845,376 |
| Accounts payable and accrued expenses | $283,042 |
| Grants payable | $0 |
| Deferred revenue | $75,603 |
| 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 | $387,285 |
| Total liabilities | $745,930 |
| Net assets without donor restrictions | $6,099,446 |
| 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 | $6,845,376 |