Silver Oak Academy
- Assets
- $319.7k
- Revenue
- $2.0m
- Investments
- $12.1k
- Employees
- 0
- Location
- Keymar, MD
- Founding
- 02/2010
- Data as of
- 06/2021
- EIN
- 27-0407260
Organization Overview
Silver Oak Academy is located in Keymar, MD. The organization was established in 2010. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Silver Oak 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, Silver Oak Academy generated $2.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.8%) each year. All expenses for the organization totaled $2.0m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (6.3%) 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SILVER OAK ACADEMY STRIVES TO CREATE AN ENVIRONMENT WHERE STUDENTS ACHIEVE ACADEMIC EXCELLENCE AND DEMONSTRATE RESPECT AND RESPONSIBILITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED EDUCATIONAL AND VOCATIONAL SERVICES FOR 23 BOYS IN THE JUVENILE JUSTICE SYSTEM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bill Derr Treasurer | OfficerTrustee | 1 | $0 |
Dr Marty Kuchma Member | Trustee | 1 | $0 |
Nancy Mccormick Member | Trustee | 1 | $0 |
Corey Nevels Member | Trustee | 1 | $0 |
Charles E Collyer PHD President | OfficerTrustee | 2 | $0 |
Christian Sifuentes Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $255,791 |
| 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 | $1,996,263 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $923,635 |
| Pension plan accruals and contributions | $16,432 |
| Other employee benefits | $74,252 |
| Payroll taxes | $83,145 |
| Fees for services: Management | $171,518 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,475 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $49,331 |
| Advertising and promotion | $0 |
| Office expenses | $1,167 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $540,271 |
| Travel | $0 |
| 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 | $15,368 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,027,760 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $52,267 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $225,957 |
| 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 | $4,606 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $12,100 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $319,662 |
| Accounts payable and accrued expenses | $1,141,091 |
| 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 | $1,141,091 |
| 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 |
| Total liabilities and net assets/fund balances | -$821,429 |