Somerset Academy Of Las Vegas
- Assets
- $192.8m
- Revenue
- $79.6m
- Investments
- $0.0
- Employees
- 910
- Location
- Las Vegas, NV
- Founding
- 04/2015
- Data as of
- 06/2021
- EIN
- 27-5393412
Organization Overview
Somerset Academy Of Las Vegas is located in Las Vegas, NV. The organization was established in 2015. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 06/2021, Somerset Academy Of Las Vegas employed 910 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Somerset Academy Of Las Vegas 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, Somerset Academy Of Las Vegas generated $79.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 16.7% each year . All expenses for the organization totaled $78.0m during the year ending 06/2021. While expenses have increased by 17.2% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SOMERSET ACADEMY OF LAS VEGAS IS A COLLEGE PREPARATORY CHARTER SCHOOL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTIVE SCHOOL ACCOUNT - GENERAL, NON-GRANT, INSTRUCTIONAL INCOME AND EXPENSES AS DETERMINED BY STUDENT POPULATION AND CAMPUS
SPECIAL EDUCATION - EXPENSES ASSOCIATED WITH SPECIAL EDUCATION, IN ADDITION TO THE GENERALIZED EXPENSES COVERED BY THE OPERATING ACCOUNT
STUDENT GENERATED FUNDS - ACTIVITIES INCLUDE AFTERCARE, CLUBS, CAMPUS VENDING MACHINES, CONCESSION OPERATED BY STUDENT AND FACILITY VOLUNTEERS, AND OTHER ORGANIZED SCHOOL ACTIVITIES.
NATIONAL SCHOOL LUNCH PROGRAM (NSLP)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lee Esplin Principal - Sky Pointe | 40 | $143,586 | |
Elaine Kelley Principal - Aliante | 40 | $125,621 | |
Jessica Scobell Principal - Losee | 40 | $122,270 | |
Christina Threeton Principal - Nlv | 40 | $101,011 | |
John Benthan Board Chair | OfficerTrustee | 2 | $0 |
Sarah Mcclellan Board Vice Chair | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $78,508,205 |
| All other contributions, gifts, grants, and similar amounts not included above | $624,945 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $79,133,150 |
| Total Program Service Revenue | $457,822 |
| Investment income | $3,568 |
| 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 | $79,621,443 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $30,489,362 |
| Pension plan accruals and contributions | $12,835,155 |
| Other employee benefits | $4,326,175 |
| Payroll taxes | $1,166,412 |
| Fees for services: Management | $4,325,299 |
| Fees for services: Legal | $9,573 |
| Fees for services: Accounting | $38,729 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,906,144 |
| Advertising and promotion | $3,959 |
| Office expenses | $3,264,451 |
| Information technology | $1,794,808 |
| Royalties | $0 |
| Occupancy | $5,139,475 |
| Travel | $25,506 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $175,484 |
| Interest | $5,183,316 |
| Payments to affiliates | $349,129 |
| Depreciation, depletion, and amortization | $3,528,394 |
| Insurance | $324,556 |
| All other expenses | $574,134 |
| Total functional expenses | $78,010,818 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $47,043,097 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,393,574 |
| 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 | $295,229 |
| Net Land, buildings, and equipment | $120,451,016 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $22,612,149 |
| Total assets | $192,795,065 |
| Accounts payable and accrued expenses | $5,083,211 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $133,535,000 |
| 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 | $5,278,014 |
| Other liabilities | $55,372,780 |
| Total liabilities | $199,269,005 |
| Net assets without donor restrictions | -$5,036,716 |
| Net assets with donor restrictions | -$1,437,224 |
| 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 | $192,795,065 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Somerset Academy Of Las Vegas has recieved totaling $9,845.
| Awarding Organization | Amount |
|---|---|
Speedway Childrens Charities Concord, NC PURPOSE: EDUCATIONAL | $9,845 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kipp Bay Area Schools Oakland, CA | $172,487,625 | $112,257,587 |
Somerset Academy Of Las Vegas Las Vegas, NV | $192,795,065 | $79,621,443 |
High Tech High San Diego, CA | $58,788,634 | $76,672,129 |
Menlo School Atherton, CA | $320,152,000 | $64,317,000 |
Oaks Christian School Westlake Village, CA | $150,419,760 | $62,594,014 |
Summit Public Schools Redwood City, CA | $48,530,707 | $55,546,203 |
El Camino Real Alliance Woodland Hills, CA | $34,397,207 | $53,776,806 |
Milken Community Schools Los Angeles, CA | $80,759,256 | $40,537,524 |
Windward School Los Angeles, CA | $106,329,646 | $41,804,232 |
Orange County School Of The Arts Santa Ana, CA | $14,647,557 | $49,463,330 |
Inner City Education Foundation Los Angeles, CA | $33,345,924 | $41,820,831 |
Crystal Springs Uplands School Hillsborough, CA | $136,020,158 | $40,020,241 |