Broadway Academy Inc
- Assets
- $4.0m
- Revenue
- $8.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Fairlawn, OH
- Founding
- 04/2013
- Data as of
- 06/2023
- EIN
- 27-4385313
Organization Overview
Broadway Academy Inc is located in Fairlawn, OH. The organization was established in 2013. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, 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. Broadway Academy 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 06/2023, Broadway Academy Inc generated $8.0m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.0% each year . All expenses for the organization totaled $8.0m during the year ending 06/2023. While expenses have increased by 11.0% 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
TO PROVIDE A HIGH QUALITY ALTERNATIVE EDUCATION OPPORTUNITY FOR CHILDREN AGES 5-14, GRADES K-8
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED EDUCATIONAL SERVICES TO 400 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cynthia Weston President | OfficerTrustee | 0.5 | $1,250 |
Daryl Hanson Vice President | OfficerTrustee | 0.3 | $2,124 |
Cindy Harris Treasurer | OfficerTrustee | 0.3 | $1,250 |
Michelle Mitchell Secretary | OfficerTrustee | 0.3 | $1,125 |
Cheryl Walker Director | Trustee | 0.3 | $1,250 |
Stephanie Ataya Fiscal Officer | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
St Aloysius Educational Management | 6/29/23 | $106,324 |
Chippewa Community School Llc Educational Management | 6/29/23 | $7,560,399 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $7,968,803 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,968,803 |
| Total Program Service Revenue | $0 |
| 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 | $7,986,743 |
| 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. | $6,999 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $266,749 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $7,634,816 |
| Fees for services: Legal | $24,908 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $74,652 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $11,023 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $8,019,147 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $132,755 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $682,864 |
| Accounts receivable, net | $7,133 |
| 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 | $2,227,779 |
| Net Land, buildings, and equipment | $644,041 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $302,078 |
| Total assets | $3,996,650 |
| Accounts payable and accrued expenses | $684,771 |
| Grants payable | $3,749 |
| Deferred revenue | $804,341 |
| 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 | $290,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,338,295 |
| Total liabilities | $5,121,156 |
| Net assets without donor restrictions | -$1,151,452 |
| Net assets with donor restrictions | $26,946 |
| 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 | $3,996,650 |