Houston Gateway Academy Inc
- Assets
- $92.6m
- Revenue
- $30.1m
- Investments
- $0.0
- Employees
- 239
- Location
- Houston, TX
- Founding
- 09/1999
- Data as of
- 08/2022
- EIN
- 31-1614343
Organization Overview
Houston Gateway Academy Inc is located in Houston, TX. The organization was established in 1999. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 08/2022, Houston Gateway Academy Inc employed 239 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Houston Gateway 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 08/2022, Houston Gateway Academy Inc generated $30.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.9% each year. All expenses for the organization totaled $17.5m during the year ending 08/2022. While expenses have increased by 3.9% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP STRONG CRITICAL THINKERS THAT WILL GRADUATE FROM A FOUR YEAR COLLEGE BY PROVIDING CHARACTER DEVELOPMENT RIGOROUS CURRICULUM
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE INDIVIDUALIZED CURRICULUM FOR STUDENTS TO MINIMIZE OR PREVENT LEARNING DISABILITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charlie Menefee Board President | Trustee | 1 | $0 |
Gilbert Ramon Board Secretary | Trustee | 1 | $0 |
Francisco Penning Superintendent | Officer | 60 | $176,854 |
Elizabeth Mccarthy Compliance Officer | Officer | 60 | $174,174 |
Tiffany Wright Principal | 60 | $118,236 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Amegy Bank Of Texas Financing Servi | 8/30/14 | $579,510 |
Genesis Telecom Inc Telecommunicati | 8/30/14 | $519,272 |
Preferred Meals Systems Inc Food Service | 8/30/14 | $479,324 |
Hertz Furniture Furniture | 8/30/14 | $263,932 |
Creative Vision Grant Writing | 8/30/14 | $222,548 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $30,046,072 |
| All other contributions, gifts, grants, and similar amounts not included above | $58,227 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $30,104,299 |
| 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 | $30,104,299 |
| 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. | $350,000 |
| Compensation of current officers, directors, key employees. | $350,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,016,064 |
| Pension plan accruals and contributions | $624,989 |
| Other employee benefits | $0 |
| Payroll taxes | $243,168 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $60,223 |
| Fees for services: Accounting | $59,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $778,947 |
| Advertising and promotion | $0 |
| Office expenses | $271,940 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $257,122 |
| Travel | $66,030 |
| 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 | $0 |
| Insurance | $177,077 |
| All other expenses | $1,838,760 |
| Total functional expenses | $17,532,859 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $38,686,947 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $3,725,432 |
| Accounts receivable, net | $750 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $918,097 |
| Prepaid expenses and deferred charges | $46,957 |
| Net Land, buildings, and equipment | $45,627,257 |
| Investments—publicly traded securities | $3,080,554 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $522,924 |
| Total assets | $92,608,918 |
| Accounts payable and accrued expenses | $2,547,709 |
| Grants payable | $0 |
| Deferred revenue | $385,691 |
| 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 | $600,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $806,672 |
| Total liabilities | $4,340,072 |
| Net assets without donor restrictions | $6,584,890 |
| Net assets with donor restrictions | $81,683,956 |
| 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 | $92,608,918 |