Friendship Academy Of The Arts
- Assets
- $2.6m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 51
- Location
- Minneapolis, MN
- Founding
- 05/2001
- Data as of
- 06/2020
- EIN
- 31-1756049
Organization Overview
Friendship Academy Of The Arts is located in Minneapolis, MN. The organization was established in 2001. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2020, Friendship Academy Of The Arts employed 51 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friendship Academy Of The Arts 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 06/2020, Friendship Academy Of The Arts generated $2.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $3.1m during the year ending 06/2020. While expenses have increased by 8.5% 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO EDUCATE CHILDREN TO BE CONFIDENT, CREATIVE, AND COMPETENT CITIZENS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FRIENDSHIP ACADEMY OF THE ARTS EDUCATES CHILDREN TO BE CONFIDENT, CREATIVE, AND COMPETENT CITIZENS. BY DOING SO-OUR VISION IS TO EMPOWER SCHOLARS TO BE LIFELONG LEARNERS BY DEVELOPING THE WHOLE CHILD SOCIALLY, EMOTIONALLY, ACADEMICALLY, AND ARTISTICALLY. THE ACADEMY SERVES STUDENTS IN GRADES K-7 AT TWO DIFFERENT LOCATIONS. THE PRIMARY LOCATION SERVIED OUR STUDENTS SINCE IT WAS FOUNDED IN 2001, AND NOW SERVES GRADES K-1 AND IN 2019-2021, AND THE ACADEMY LOCATED TO ITS 2ND LOCATION TO SERVE GRADES 2-8TH.
FOOD SERVICE
FREEDOM SCHOOL: AFTERSCHOOL PROGRAM
FRIENDSHIP ACADEMY OF THE ARTS EDUCATES CHILDREN TO BE CONFIDENT, CREATIVE, AND COMPETENT CITIZENS. BY DOING SO-OUR VISION IS TO EMPOWER SCHOLARS TO BE LIFELONG LEARNERS BY DEVELOPING THE WHOLE CHILD SOCIALLY, EMOTIONALLY, ACADEMICALLY, AND ARTISTICALLY. THE ACADEMY SERVES STUDENTS IN GRADES K-7 AT TWO DIFFERENT LOCATIONS. THE PRIMARY LOCATION SERVIED OUR STUDENTS SINCE IT WAS FOUNDED IN 2001, AND NOW SERVES GRADES K-1 AND IN 2019-2021, AND THE ACADEMY LOCATED TO ITS 2ND LOCATION TO SERVE GRADES 2-8TH.
FOOD SERVICE
FREEDOM SCHOOL: AFTERSCHOOL PROGRAM
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr B Charvez Russell Executive Director | Officer | 40 | $64,634 |
Akuorkor Ablorh Secretary/teacher | OfficerTrustee | 40 | $45,589 |
Mary Riley Business Manager | OfficerTrustee | 25 | $27,626 |
Wendy Hines Board Chair | OfficerTrustee | 3 | $0 |
Brenda Hill Director | Trustee | 2 | $0 |
Jules Porter ESQ Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,901,302 |
| Investment income | $1,031 |
| 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 | $2,907,050 |
| 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. | $168,837 |
| Compensation to disqualified persons | $85,647 |
| Other salaries and wages | $1,208,772 |
| Pension plan accruals and contributions | $88,265 |
| Other employee benefits | $42,191 |
| Payroll taxes | $107,769 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,256 |
| Fees for services: Accounting | $50,688 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $347,960 |
| Advertising and promotion | $0 |
| Office expenses | $315,223 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $271,559 |
| Travel | $351,449 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,811 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,714 |
| Insurance | $19,896 |
| All other expenses | $0 |
| Total functional expenses | $3,128,013 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $849,936 |
| Savings and temporary cash investments | $56,461 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $711,623 |
| 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 | $19,579 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $991,790 |
| Total assets | $2,639,129 |
| Accounts payable and accrued expenses | $130,085 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $9,740 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $443,277 |
| Other liabilities | $2,241,662 |
| Total liabilities | $2,815,024 |
| 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 | -$185,635 |
| Total liabilities and net assets/fund balances | -$175,895 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Friendship Academy Of The Arts has recieved totaling $165,150.
| Awarding Organization | Amount |
|---|---|
Ciresi Walburn Foundation For Children Minneapolis, MN PURPOSE: EDUCATE CHILDREN TO BE CONFIDENT, COMPETENT AND CREATIVE CITIZENS | $75,000 |
Great Mn Schools Minneapolis, MN PURPOSE: FISCAL YEAR 2022 INVESTMENT | $55,000 |
Thrivent Charitable Impact & Investing Appleton, WI PURPOSE: GENERAL SUPPORT | $15,150 |
Sheltering Arms Foundation Minneapolis, MN PURPOSE: SEE SCHEDULE O | $10,000 |
Charter Fund Inc Broomfield, CO PURPOSE: CHARTER SCHOOL GROWTH | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Seeds Of Health Milwaukee, WI | $21,433,274 | $18,248,715 |
Twin Cities International Schools Minneapolis, MN | $10,477,770 | $17,272,708 |
Eagle Ridge Academy Minnetonka, MN | $14,507,492 | $16,854,949 |
Lakes International Language Academy Forest Lake, MN | $12,188,611 | $15,744,589 |
Parnassus Preparatory School Maple Grove, MN | $11,987,253 | $16,239,729 |
Hmong American Peace Academy Ltd Milwaukee, WI | $62,055,663 | $22,180,285 |
Seven Hills Preparatory Academy Bloomington, MN | $12,008,176 | $15,420,403 |
St Croix Preparatory Academy Stillwater, MN | $15,400,325 | $14,730,120 |
Athlos Leadership Academy Brooklyn Park, MN | $8,310,126 | $14,353,758 |
Prairie Seeds Academy Brooklyn Park, MN | $11,928,237 | $14,361,129 |
Kipp Minnesota Minneapolis, MN | $9,470,276 | $14,681,951 |
Prodeo Academy Columbia Heights, MN | $7,923,634 | $13,232,357 |