Institute Of Technology Andacademics
- Assets
- $8.6m
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 79
- Location
- Milwaukee, WI
- Founding
- 07/2007
- Data as of
- 06/2023
- EIN
- 20-8488048
Organization Overview
Institute Of Technology Andacademics is located in Milwaukee, WI. The organization was established in 2007. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2023, Institute Of Technology Andacademics employed 79 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Institute Of Technology Andacademics 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 06/2023, Institute Of Technology Andacademics generated $3.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $3.7m during the year ending 06/2023. While expenses have increased by 8.0% 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
WE ARE A HIGH ACHIEVING HIGH PERFORMING URBAN SCHOOL WHERE WE PREPARE THE CHILDREN OF MILWAUKEE FOR AN EXCEPTIONAL CAREER LIFE AND FUTURE
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE INSITUTE OF TECHNOLOGY AND ACADEMICS HAS TWO CAMPUSES TO SERVE ITS STUDENTS. THE LOWER CAMPUS HOUSES K4-2ND GRADE WHILE THE UPPER CAMPUS HOUSES 3RD-8TH GRADE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kulbir Singh Presexec Director | OfficerTrustee | 40 | $125,000 |
Dr David Borst Chairman | OfficerTrustee | 1 | $0 |
Princess Jones Director | Trustee | 1 | $0 |
Markita Jefferson Director | Trustee | 1 | $0 |
Dino Antonopoulos Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Yummi Foods Llc Food Service | 6/29/20 | $234,882 |
Lakeside Bus Student Transportation | 6/29/20 | $204,548 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,346,014 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,542 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,348,556 |
| Total Program Service Revenue | $0 |
| Investment income | $1,166 |
| 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 | $3,365,773 |
| 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. | $125,000 |
| Compensation of current officers, directors, key employees. | $17,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,395,077 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $97,994 |
| Payroll taxes | $121,789 |
| Fees for services: Management | $8,403 |
| Fees for services: Legal | $2,608 |
| Fees for services: Accounting | $70,449 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $14,211 |
| Office expenses | $150,757 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $756,564 |
| Travel | $9,026 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $90,142 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $213,363 |
| Insurance | $58,152 |
| All other expenses | $0 |
| Total functional expenses | $3,663,644 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,894,451 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $54,488 |
| 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 | $70,627 |
| Net Land, buildings, and equipment | $982,459 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,596,510 |
| Total assets | $8,598,535 |
| Accounts payable and accrued expenses | $108,657 |
| 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 | $7,993,054 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $8,101,711 |
| Net assets without donor restrictions | $496,824 |
| 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 | $8,598,535 |