Milkyway Education Center Inc
- Assets
- $17.1m
- Revenue
- $6.6m
- Investments
- $0.0
- Employees
- 62
- Location
- Wayne, NJ
- Founding
- 10/1995
- Data as of
- 06/2021
- EIN
- 22-3261282
Organization Overview
Milkyway Education Center Inc, operating under the name Pioneer Academy, is located in Wayne, NJ. The organization was established in 1995. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 06/2021, Pioneer Academy employed 62 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pioneer 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 06/2021, Pioneer Academy generated $6.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $6.2m during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PIONEER ACADEMY AIMS TO PROVIDE A WELL-ROUNDED, CHARACTER-BUILDING EDUCATION THROUGH CHALLENGING INTERDISCIPLINARY CURRICULA, STIMULATING EXTRA-CURRICULAR ACTIVITIES, AND COMMUNITY INVOLVEMENT. WE SEEK TO INSTILL A LIFE-LONG PASSION FOR LEARNING, A STRONG SENSE OF MORAL RESPONSIBILITY, AND A WELCOMING OF DIVERSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSE OF THE ORGANIZATION IS TO PROVIDE PRIVATE EDUCATION SERVICES FOR ELEMENTARY AND HIGH SCHOOL CHILDREN AS WELL AS ESL CLASSES FOR ADULTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Owen O Akman Principal | Officer | 40 | $87,519 |
Fatih Bulungiray Business Manager | Officer | 40 | $56,057 |
Erkan Ertosun President | OfficerTrustee | 0.5 | $0 |
Nuray Yurt Secretary | OfficerTrustee | 0.5 | $0 |
Oguzhan Senturk Treasurer | OfficerTrustee | 0.5 | $0 |
Metin Bas Board Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $585,210 |
| All other contributions, gifts, grants, and similar amounts not included above | $238,340 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $823,550 |
| Total Program Service Revenue | $5,610,106 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$3,800 |
| 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 | $6,601,432 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,281,846 |
| 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 | $173,737 |
| Other salaries and wages | $2,307,777 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $87,773 |
| Payroll taxes | $219,065 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $19,640 |
| Fees for services: Accounting | $22,312 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $48,481 |
| Advertising and promotion | $185,265 |
| Office expenses | $25,622 |
| Information technology | $102,802 |
| Royalties | $0 |
| Occupancy | $208,732 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $304,913 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $314,591 |
| Insurance | $74,154 |
| All other expenses | $236,225 |
| Total functional expenses | $6,191,787 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,684,097 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $855,143 |
| 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 | $12,230 |
| Net Land, buildings, and equipment | $14,555,321 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $17,106,791 |
| Accounts payable and accrued expenses | $186,466 |
| Grants payable | $0 |
| Deferred revenue | $1,384,528 |
| 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 | $5,352,810 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $600,210 |
| Total liabilities | $7,524,014 |
| Net assets without donor restrictions | $9,582,777 |
| 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 | $17,106,791 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Milkyway Education Center Inc has recieved totaling $6,812.
| Awarding Organization | Amount |
|---|---|
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $6,509 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $303 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John A Coleman School Yonkers, NY | $5,649,439 | $19,245,814 |
Halo Network Inc Amityville, NY | $5,984,377 | $20,823,404 |
Ascend Learning Inc Brooklyn, NY | $10,949,837 | $20,246,927 |
Lindley Academy Charter School At Birney Philadelphia, PA | $8,724,796 | $15,521,412 |
Workforce Development Corp New York, NY | $20,852,099 | $12,566,315 |
International School Of Brooklyn Brooklyn, NY | $6,521,944 | $15,095,239 |
Watershed Agricultural Council Of The New York City Watersheds Inc Walton, NY | $8,601,609 | $14,819,769 |
Purpose Foundation Island Park, NY | $1,585,866 | $11,041,724 |
Tech Impact Philadelphia, PA | $10,895,345 | $15,289,025 |
Tikva Corp West Caldwell, NJ | $10,446,184 | $12,711,125 |
Stemcivics Inc Ewing Township, NJ | $5,738,931 | $13,034,787 |
Neighbours Inc Highland Park, NJ | $4,396,049 | $11,744,083 |