Esperanza Academy Charter School
- Assets
- $131.0m
- Revenue
- $31.2m
- Investments
- $0.0
- Employees
- 335
- Location
- Philadelphia, PA
- Founding
- 10/1998
- Data as of
- 06/2022
- EIN
- 23-2853988
Organization Overview
Esperanza Academy Charter School is located in Philadelphia, PA. The organization was established in 1998. 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, Esperanza Academy Charter School employed 335 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Esperanza Academy 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, Esperanza Academy Charter School generated $31.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.2% each year. All expenses for the organization totaled $31.1m during the year ending 06/2022. While expenses have increased by 6.7% 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
CREATING QUALITY EDUCATION DELIVERY SYSTEMS AND FACILICITIES AS A CONTINUED EFFORT TO RAISE THE ECONOMIC AND SOCIAL LIVES OF THE HISPANIC COMMUNITY THROUGH QUALITY EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 1987 THE HISPANIC CLERGY OF PHILADELPHIA FOUNDED AND INCORPORATED THE NON-PROFIT ORGANIZATION NUEVA ESPERANZA, INC. (NEI), DBA ESPERANZA, TO PROVIDE SUPPORT TO HISPANIC COMMUNITIES. FOR MORE THAN 30 YEARS NEIS EFFORTS HAVE FOCUSED ON CREATING OPPORTUNITIES FOR HISPANIC CHILDREN AND FAMILIES LIVING IN PHILADELPHIAS HUNTING PARK COMMUNITY. NEIS INTENTIONAL FOCUS ON CREATING QUALITY EDUCATION DELIVERY SYSTEMS AND FACILITIES INCLUDE FOUNDING ESPERANZA ACADEMY CHARTER SCHOOL AS A CONTINUED EFFORT TO RAISE THE ECONOMIC AND SOCIAL LEVELS OF THE HISPANIC COMMUNITY THROUGH QUALITY EDUCATION. ESPERANZA ACADEMY CHARTER SCHOOL IS A CHARTER SCHOOL LOCATED IN PHILADELPHIA, PENNSYLVANIA. THE SCHOOL SERVES GRADES ONE AND SIX THROUGH TWELVE. THE SCHOOL WAS ESTABLISHED AND OPERATES UNDER THE PROVISIONS ENACTED BY THE GENERAL ASSEMBLY OF THE COMMONWEALTH OF PENNSYLVANIA IN 1997. IN SEPTEMBER 2000 NEI RECEIVED A CHARTER FOR THE OPENING OF ESPERANZA ACADEMY CHARTER SCHOOL AND IS CURRENTLY OPERATING UNDER A CHARTER SCHOOL CONTRACT ENDING ON JUNE 30, 2019. ESPERANZA ACADEMY CHARTER SCHOOL HAS FINANCIAL ACCOUNTABILITY AND CONTROL OVER ALL ACTIVITIES RELATED TO THE STUDENTS EDUCATION. THE SCHOOL RECEIVES FUNDING FROM LOCAL, STATE, AND FEDERAL GOVERNMENT SOURCES AND MUST COMPLY WITH THE REQUIREMENTS OF THESE FUNDING SOURCE ENTITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rev Luis Corts Jr Ex-Officio | Officer | 2 | $0 |
David Rossi Chief Executive Officer | Officer | 40 | $189,881 |
Tania D Diaz Ms Director Of Instruction | 40 | $123,484 | |
Jorge Calixto Hs Director Of Instruction | 40 | $108,769 | |
Lori D Walinsky Director Of Student Success | 40 | $108,111 | |
Jeana G Davis Es Director Of Instruction | 40 | $107,797 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
American Reading Company Language Arts | 6/29/22 | $109,027 |
Visual Sound It | 6/29/22 | $234,466 |
Imperial Bag Paper Janitorial Supplies | 6/29/22 | $101,319 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $6,112 |
| Related organizations | $60,444 |
| Government grants | $6,979,525 |
| All other contributions, gifts, grants, and similar amounts not included above | $171,450 |
| Noncash contributions included in lines 1a–1f | $79,368 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,217,531 |
| Total Program Service Revenue | $23,883,992 |
| Investment income | $11,689 |
| 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 | $31,153,040 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $5,973 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $277,499 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $13,949,084 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,745,005 |
| Payroll taxes | $1,053,177 |
| Fees for services: Management | $1,953,698 |
| Fees for services: Legal | $28,372 |
| Fees for services: Accounting | $27,295 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $760,256 |
| Advertising and promotion | $33,401 |
| Office expenses | $573,090 |
| Information technology | $1,228,616 |
| Royalties | $0 |
| Occupancy | $742,232 |
| Travel | $137,239 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $115,251 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,932,859 |
| Insurance | $176,324 |
| All other expenses | $0 |
| Total functional expenses | $31,065,850 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $591,809 |
| Savings and temporary cash investments | $3,664,350 |
| Pledges and grants receivable | $3,525,160 |
| Accounts receivable, net | $859,195 |
| 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 | $19,458 |
| Net Land, buildings, and equipment | $119,780,783 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,537,461 |
| Total assets | $130,978,216 |
| Accounts payable and accrued expenses | $970,862 |
| 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 | $121,722,222 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $18,507,193 |
| Total liabilities | $141,200,277 |
| Net assets without donor restrictions | -$10,222,061 |
| 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 | $130,978,216 |