Friendship Academy Of The Arts
- Assets
- $3.4m
- Revenue
- $5.5m
- Investments
- $0.0
- Employees
- 82
- Location
- Minneapolis, MN
- Founding
- 05/2001
- Data as of
- 06/2022
- 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 06/2022, Friendship Academy Of The Arts employed 82 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 06/2022, Friendship Academy Of The Arts generated $5.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.9% each year . All expenses for the organization totaled $6.1m during the year ending 06/2022. While expenses have increased by 17.9% per year over the past 7 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 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-8 AT TWO DIFFERENT LOCATIONS. THE PRIMARY LOCATION SERVIED OUR STUDENTS SINCE IT WAS FOUNDED IN 2001, AND NOW SERVES GRADES K-8 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 |
|---|---|---|---|
Wendy Hines Board Chair | OfficerTrustee | 1 | $0 |
Akuorkor Ablorh Secretary/teacher | OfficerTrustee | 40 | $61,242 |
Maya Brown Director | Trustee | 1 | $0 |
Brenda Hill Director | Trustee | 1 | $0 |
Ananysia Joseph Co-Chair | Trustee | 1 | $0 |
Tiffani Forslund Director/teacher | Trustee | 40 | $38,545 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cst Transport Student Transportation | 6/29/22 | $462,472 |
Designs For Learning Financial/educational Services | 6/29/22 | $165,890 |
Jj's Helping Hand Janitorial/maintenance Services | 6/29/22 | $105,030 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,200,014 |
| All other contributions, gifts, grants, and similar amounts not included above | $266,701 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,466,715 |
| Total Program Service Revenue | $4,708 |
| Investment income | $8 |
| 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 | $1,985 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,476,614 |
| 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. | $230,092 |
| Compensation of current officers, directors, key employees. | $129,981 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,570,422 |
| Pension plan accruals and contributions | $198,000 |
| Other employee benefits | $80,627 |
| Payroll taxes | $213,838 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,000 |
| Fees for services: Accounting | $91,202 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $664,585 |
| Advertising and promotion | $0 |
| Office expenses | $702,879 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $580,373 |
| Travel | $348,636 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,184 |
| Interest | $47,741 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $193,954 |
| Insurance | $28,008 |
| All other expenses | $0 |
| Total functional expenses | $6,069,810 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $69,688 |
| Savings and temporary cash investments | -$5 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,005,513 |
| 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 | $5,404 |
| Net Land, buildings, and equipment | $43,071 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,305,664 |
| Total assets | $3,429,335 |
| Accounts payable and accrued expenses | $447,309 |
| 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 | $150,000 |
| Other liabilities | $3,839,045 |
| Total liabilities | $4,436,354 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | -$1,105,831 |
| Paid-in or capital surplus, or land, building, or equipment fund | $26,754 |
| Retained earnings, endowment, accumulated income, or other funds | $72,058 |
| Total liabilities and net assets/fund balances | $3,429,335 |