Acero Charter Schools Inc
- Assets
- $97.2m
- Revenue
- $113.2m
- Investments
- $0.0
- Employees
- 816
- Location
- Chicago, IL
- Founding
- 08/2001
- Data as of
- 06/2021
- EIN
- 36-4235934
Organization Overview
Acero Charter Schools Inc is located in Chicago, IL. 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 06/2021, Acero Charter Schools Inc employed 816 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Acero Charter Schools 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 06/2021, Acero Charter Schools Inc generated $113.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $108.4m during the year ending 06/2021. While expenses have increased by 2.4% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
ORGANIZATION PROVIDES EDUCATIONAL AND COMMUNITY OPPORTUNITIES FOR YOUTHS IN K-12.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STUDENT FEE - EDUCATIONAL INSTITUTION FOR STUDENTS IN KINDERGARTEN THROUGH HIGH SCHOOL SERVING 7,200 STUDENTS THROUGH 13 ELEMENTARY AND 3 HIGH SCHOOLS, RESPECTIVELY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard L Rodriguez President & Chief Executive Officer | Officer | 40 | $248,604 |
Helena C Stangle Chief External Affairs Off | Officer | 40 | $162,513 |
Araceli DE La Cruz General Counsel/chief Admi | Officer | 40 | $154,454 |
Mariel Laureano Chief Education Officer | Officer | 40 | $152,765 |
Richard Valerga Chief Operating Officer | Officer | 40 | $140,614 |
Michael Bradley Chief Financial Officer - Until Oct 2020 | Officer | 40 | $140,131 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Organiclife Llc Food Catering Services For Student | 6/29/21 | $12,029,730 |
Healthpro Heritage Special Education Clinician Services | 6/29/21 | $2,794,978 |
Cdw Government Inc Technology Hardware & Softwares | 6/29/21 | $1,291,102 |
General Mechanical Services General And Mecahnical Contractor | 6/29/21 | $1,060,632 |
Edu Healthcare Llc Special Education Clinician Services | 6/29/21 | $2,246,233 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $113,540,775 |
| Investment income | $83,441 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$436,164 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $113,233,241 |
| 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. | $1,314,778 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $49,848,553 |
| Pension plan accruals and contributions | $8,083,415 |
| Other employee benefits | $7,397,175 |
| Payroll taxes | $1,607,722 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $181,447 |
| Fees for services: Accounting | $32,014 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,671,181 |
| Advertising and promotion | $169,932 |
| Office expenses | $817,919 |
| Information technology | $34,000 |
| Royalties | $0 |
| Occupancy | $6,482,405 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,704 |
| Interest | $2,877,848 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,325,117 |
| Insurance | $464,521 |
| All other expenses | $0 |
| Total functional expenses | $108,438,953 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,440 |
| Savings and temporary cash investments | $22,443,466 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,604,444 |
| 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 | $1,607,026 |
| Investments—publicly traded securities | $14,494,930 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,539,219 |
| Total assets | $97,227,259 |
| Accounts payable and accrued expenses | $10,971,007 |
| Grants payable | $0 |
| Deferred revenue | $158,957 |
| Tax-exempt bond liabilities | $32,059,813 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $20,906,198 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,018,678 |
| Total liabilities | $65,114,653 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $32,112,606 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Acero Charter Schools Inc has recieved totaling $34,901.
| Awarding Organization | Amount |
|---|---|
Genyouth Inc Rosemont, IL PURPOSE: End Student Hunger | $10,000 |
National Parents Union Inc Malden, MA PURPOSE: CHARITABLE CONTRIBUTIONS | $8,340 |
National Parents Union Inc Malden, MA PURPOSE: CHARITABLE CONTRIBUTIONS | $8,340 |
Chicago Public Education Fund Chicago, IL PURPOSE: Program participation stipends | $7,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $1,221 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Acero Charter Schools Inc Chicago, IL | $97,227,259 | $113,233,241 |
Lawndale Educational And Regional Network Charter School Chicago, IL | $67,406,179 | $92,698,092 |
Kipp Chicago Schools Chicago, IL | $13,709,561 | $40,280,655 |
Phalen Leadership Academy-Indiana Inc Indianapolis, IN | $19,837,313 | $31,079,119 |
Carmen High School Of Science And Technology Inc Milwaukee, WI | $26,487,634 | $24,006,774 |
Kipp Indianapolis Inc Indianapolis, IN | $19,111,079 | $22,227,841 |
Frontier Schools Inc Kansas City, MO | $35,530,269 | $28,374,845 |
Intrinsic Schools Chicago, IL | $39,836,849 | $21,177,530 |
Guadalupe Educational Systems Inc Kansas City, MO | $13,472,707 | $27,548,134 |
Seeds Of Health Milwaukee, WI | $21,433,274 | $18,248,715 |
Ewing Marion Kauffman School Inc Kansas City, MO | $12,328,924 | $22,686,630 |
Hmong American Peace Academy Ltd Milwaukee, WI | $62,055,663 | $22,180,285 |