Acero Charter Schools Inc
- Assets
- $110.3m
- Revenue
- $124.4m
- Investments
- $0.0
- Employees
- 867
- Location
- Chicago, IL
- Founding
- 08/2001
- Data as of
- 06/2023
- 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 06/2023, Acero Charter Schools Inc employed 867 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 06/2023, Acero Charter Schools Inc generated $124.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $119.3m during the year ending 06/2023. While expenses have increased by 3.8% 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
2023
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 6,566 STUDENTS THROUGH 13 ELEMENTARY AND 3 HIGH SCHOOLS, RESPECTIVELY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Yeni Rojas Chairwoman | OfficerTrustee | 2 | $0 |
Douglass Hewitt Vice-Chairman | OfficerTrustee | 2 | $0 |
Roxanne Matias Secretary | OfficerTrustee | 2 | $0 |
Jairo Naranjo Treasurer | OfficerTrustee | 2 | $0 |
John Pelissero Director | Trustee | 2 | $0 |
Kelwin Harris Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Healthpro Heritage Special Education Clinician Services | 6/29/23 | $5,998,838 |
Kokua Education Inc Substitute Teacher Services | 6/29/23 | $3,935,229 |
Organiclife Llc Food Service For Students | 6/29/23 | $3,590,016 |
Cdw Government Inc Technology Hardware & Software | 6/29/23 | $2,443,336 |
Premistar General & Mechanical Contractor | 6/29/23 | $1,783,584 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $122,914,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $532,661 |
| Noncash contributions included in lines 1a–1f | $517,539 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $123,446,661 |
| Total Program Service Revenue | $107,956 |
| Investment income | $1,018,952 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$336,157 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $124,373,152 |
| 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. | $1,115,702 |
| Compensation of current officers, directors, key employees. | $421,862 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $58,972,983 |
| Pension plan accruals and contributions | $8,279,893 |
| Other employee benefits | $9,688,195 |
| Payroll taxes | $1,718,539 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $465,259 |
| Fees for services: Accounting | $43,584 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,001,280 |
| Advertising and promotion | $133,466 |
| Office expenses | $1,136,256 |
| Information technology | $34,680 |
| Royalties | $0 |
| Occupancy | $8,082,553 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $39,025 |
| Interest | $1,564,614 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,033,809 |
| Insurance | $628,676 |
| All other expenses | $3,222,413 |
| Total functional expenses | $119,294,736 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,441 |
| Savings and temporary cash investments | $26,910,293 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,923,904 |
| 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 | $2,927,347 |
| Net Land, buildings, and equipment | $44,075,333 |
| Investments—publicly traded securities | $13,056,289 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $16,389,599 |
| Total assets | $110,284,206 |
| Accounts payable and accrued expenses | $13,016,619 |
| Grants payable | $0 |
| Deferred revenue | $24,719 |
| 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 | $41,982,470 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $11,567,876 |
| Total liabilities | $66,591,684 |
| Net assets without donor restrictions | $43,562,580 |
| Net assets with donor restrictions | $129,942 |
| 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 | $110,284,206 |