Choice Academies Inc
- Assets
- $16.1m
- Revenue
- $7.0m
- Investments
- $0.0
- Employees
- 124
- Location
- Phoenix, AZ
- Founding
- 02/2008
- Data as of
- 06/2022
- EIN
- 20-8809933
Organization Overview
Choice Academies Inc is located in Phoenix, AZ. The organization was established in 2008. 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, Choice Academies Inc employed 124 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Choice Academies 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, Choice Academies Inc generated $7.0m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $6.7m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (2.2%) per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
CHOICE ACADEMIES IS COMITTED TO PROVIDING A TRADITIONAL BACK-TO-BASICS EDUCATION WITHIN A FRAMEWORK OF HIGH STANDARDS AND HIGH EXPECTATIONS IN A SAFE ENVIRONMENT. ITS PURPOSE IS TO PROVIDE STUDENTS WITH A STRONG FOUNDATION OF KNOWLEDGE, TO TEACH CRITICAL THINKING AND TO DEVELOP GOOD CITIZENSHIP AND LEADERSHIP SKILLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHOICE ACADEMIES, INC. ("CHARTER SCHOOL") IS AN ARIZONA NON-PROFIT CORPORATION ESTABLISHED IN 2009 TO OPERATE A CHARTER SCHOOL OFFERING A TRADITIONAL, BACK-TO BASICS EDUCATION WITHIN A FRAMEWORK OF HIGH STANDARDS AND HIGH EXPECTATIONS IN A SAFE ENVIRONMENT. THE CHARTER SCHOOL OPERATES UNDER A 15- YEAR CHARTER CONTRACT THROUGH 2024 WITH THE ARIZONA STATE BOARD FOR CHARTER SCHOOLS, WHICH MANDATES POLICY AND OPERATIONAL GUIDELINES. THE CHARTER SCHOOL PROVIDES EDUCATIONAL SERVICES TO APPROXIMATELY 990 CHARTER SCHOOL STUDENTS IN KINDERGARTEN THROUGH TWELFTH GRADES IN PHOENIX, ARIZONA, AND IS FUNDED PRIMARILY THROUGH STATE EQUALIZATION ASSISTANCE. THE PURPOSE OF THE CHARTER SCHOOL IS TO PROVIDE STUDENTS WITH A STRONG FOUNDATION OF KNOWLEDGE, TO EACH CRITICAL THINKING AND TO DEVELOP GOOD CITIZENSHIP AND LEADERSHIP SKILLS. CHOICE ACADEMIES STRIVES TO BECOME NATIONALLY COMPETITIVE BY ACHIEVING ITS OBJECTIVES THROUGH SEQUENTIAL INCREASE IN KNOWLEDGE AND STUDENT ACCOUNTABILITY, HIGHLY TRAINED TEACHERS, AND STRONG PARENTAL INVOLVEMENT.
CHOICE SERVICES, LLC ("PRESCHOOL") COMMENCED OPERATIONS OF THE PRESCHOOL IN SEPTEMBER 2012. CHOICE SERVICES, LLC IS AN ARIZONA LIMITED LIABILITY COMPANY, THE SOLE MEMBER OF WHICH IS THE CHARTER SCHOOL AND, ACCORDINGLY, IS ULTIMATELY CONTROLLED BY THE CHARTER SCHOOL'S BOARD OF DIRECTORS. THE PRESCHOOL CURRICULUM IS DESIGNED TO EXTEND A CHILD'S UNDERSTANDING AND ACCLIMATION TO THE WORLD AROUND THEM. THE CLASSROOM OFFERS CHILDREN THE CHANGE TO OBTAIN THIS UNDERSTANDING AND ADJUSTMENT. CHILDREN ARE CHALLENGED TO ACHIEVE THE HIGHEST STANDARDS IN THEIR STUDIES, IN THEIR PLAY, AND IN THEIR CHARACTER.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lisa Fink President (& Secretary Of Gov. Board) | OfficerTrustee | 1 | $1,000 |
Judd Lewis Treasurer | OfficerTrustee | 1 | $0 |
Brent Garrett Director | Trustee | 1 | $0 |
Marcus Kelley Director | Trustee | 1 | $0 |
Davis Weston Director | Trustee | 1 | $0 |
Tom Mccauley Secretary Of Gov. Board | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Integrated Education Services Special Education Services | 6/29/22 | $188,263 |
Openworks Inc Janitorial Services | 6/29/22 | $143,078 |
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 | $71,725 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $71,725 |
| Total Program Service Revenue | $6,947,042 |
| 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 | $7,018,767 |
| 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. | $111,095 |
| Compensation of current officers, directors, key employees. | $111,095 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,489,167 |
| Pension plan accruals and contributions | $57,197 |
| Other employee benefits | $235,061 |
| Payroll taxes | $205,933 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,400 |
| Fees for services: Accounting | $39,547 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $218,732 |
| Advertising and promotion | $13,780 |
| Office expenses | $20,464 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $134,892 |
| Travel | $18,000 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $871,851 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $390,180 |
| Insurance | $57,850 |
| All other expenses | $48,685 |
| Total functional expenses | $6,656,526 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $850,563 |
| Savings and temporary cash investments | $4,036,649 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,259 |
| 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 | $140,508 |
| Net Land, buildings, and equipment | $11,015,152 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $16,051,131 |
| Accounts payable and accrued expenses | $522,525 |
| Grants payable | $0 |
| Deferred revenue | $106,387 |
| 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 | $13,543,829 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $14,172,741 |
| Net assets without donor restrictions | $1,871,644 |
| Net assets with donor restrictions | $6,746 |
| 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 | $16,051,131 |