Frazier Academy Design Team Inc
- Assets
- $0.0
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 37
- Location
- Chicago, IL
- Founding
- 12/2008
- Data as of
- 06/2020
- EIN
- 20-5471007
Organization Overview
Frazier Academy Design Team Inc, operating under the name Frazier Preparatory Academy, is located in Chicago, IL. The organization was established in 2008. According to its NTEE Classification (A25) the organization is classified as: Arts Education, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2020, Frazier Preparatory Academy employed 37 individuals. Frazier Preparatory 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 06/2020, Frazier Preparatory Academy generated $3.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (4.8%) each year. All expenses for the organization totaled $3.7m during the year ending 06/2020. As we would expect to see with falling revenues, expenses have declined by (1.5%) per year over the past 5 years. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING EDUCATIONAL AND COMMUNITY OPPORTUNITIES FOR YOUTHS IN PRE-K THROUGH 8TH GRADE
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SCHOOL IS BASED UPON THE PARAGON CURRICULUM, WHICH IS AN ARTS INFUSED MODEL, WITH THE MISSION OF GROOMING ITS ELEMENTARY STUDENTS INTO SELF-MOTIVATED LIFE LEARNERS. TO ENSURE THAT ALL STUDENTS ACHIEVE CROSS-CURRICULAR ACADEMIC SUCCESS, METHODS OF INSTRUCTION INCLUDE MULTIPLE ASSESSMENTS, TECHNOLOGY-INFUSED LEARNING, MULTICULTURAL LEARNING CONTENT, FOREIGN LANGUAGE STUDIES, ADDITIONAL INSTRUCTIONAL TIME AND AN EXTENDED SCHOOL YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tommy Duff Board President | OfficerTrustee | 1 | $0 |
Nedra Joiner Secretary | OfficerTrustee | 1 | $0 |
Ronald Nolen Treasurer | OfficerTrustee | 1 | $0 |
Joyce Steele Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Accel Schools Llc Management Services | 6/29/19 | $410,192 |
Kaleidoscope Family Solution Support Services | 6/29/19 | $142,447 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,013,055 |
| 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 | $3,013,055 |
| Total Program Service Revenue | $0 |
| Investment income | $785 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$19,357 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,133,368 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,944,847 |
| Pension plan accruals and contributions | $130,353 |
| Other employee benefits | $209,642 |
| Payroll taxes | $97,097 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $42,557 |
| Fees for services: Accounting | $2,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $240,658 |
| Advertising and promotion | $14,323 |
| Office expenses | $117,048 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $225,869 |
| Travel | $18,460 |
| 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 | $19,791 |
| Insurance | $26,851 |
| All other expenses | $42,220 |
| Total functional expenses | $3,678,963 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $0 |