Academy Of America
- Assets
- $12.1m
- Revenue
- $513.1k
- Investments
- $0.0
- Employees
- 5
- Location
- Southfield, MI
- Founding
- 09/1988
- Data as of
- 06/2022
- EIN
- 38-6525613
Organization Overview
Academy Of America is located in Southfield, MI. The organization was established in 1988. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Academy Of America employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Academy Of America 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, Academy Of America generated $513.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (17.2%) each year. All expenses for the organization totaled $2.0m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (12.4%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE EDUCATIONAL FACILITIES FOR STUDENTS GRADES K THROUGH TWELVE FOR ECONOMICALLY DEPRIVED STUDENTS.
Describe the Organization's Program Activity:
START-UP AND OPERATION OF EDUCATIONAL INSTITUATIONS FOR ECONOMICALLY DEPRIVED YOUTHS. EDUCATION PROGRAMS FOR ECONOMICALLY DEPRIVED STUDENTS AND COLLEGE STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lecester L Allen President | Officer | 20 | $57,576 |
Mattie L Allen Vice Preside | Officer | 30 | $35,200 |
Denise Bennett Director/vic | OfficerTrustee | 1 | $0 |
Nathalia Brooks Director/sec | OfficerTrustee | 1 | $0 |
Dr Cecil Poe Director/cha | OfficerTrustee | 1 | $0 |
Andrew Burks Vice Preside | Officer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $581,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $581,000 |
| Total Program Service Revenue | -$61,415 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$6,439 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $513,146 |
| 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. | $92,776 |
| Compensation of current officers, directors, key employees. | $35,200 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $105,347 |
| Pension plan accruals and contributions | -$67 |
| Other employee benefits | $24,379 |
| Payroll taxes | $16,083 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $288 |
| Fees for services: Accounting | $80,287 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $108,000 |
| Advertising and promotion | $0 |
| Office expenses | $56,514 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $129,933 |
| Travel | $30,394 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $81,095 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $688,577 |
| Insurance | $0 |
| All other expenses | $27,532 |
| Total functional expenses | $2,002,100 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $34,499 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $11,582 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $291,981 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $46,430 |
| Net Land, buildings, and equipment | $10,987,182 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $747,978 |
| Total assets | $12,119,652 |
| Accounts payable and accrued expenses | $543,603 |
| 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 | $1,454,914 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $103,833 |
| Total liabilities | $2,102,350 |
| Net assets without donor restrictions | $10,017,302 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $12,119,652 |