Beta Foundation
- Assets
- $35.1m
- Revenue
- $15.0m
- Investments
- $0.0
- Employees
- 177
- Location
- Houston, TX
- Founding
- 02/2012
- Data as of
- 08/2021
- EIN
- 45-3019142
Organization Overview
Beta Foundation is located in Houston, TX. The organization was established in 2012. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 08/2021, Beta Foundation employed 177 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Beta Foundation 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 08/2021, Beta Foundation generated $15.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 23.0% each year . All expenses for the organization totaled $12.4m during the year ending 08/2021. While expenses have increased by 23.9% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FUNDAMENTAL MISSION AND PURPOSE OF BETA FOUNDATION IS TO CREATE A SCHOOL WITH AN ENVIRONMENT OF HOPE THAT NOT ONLY NURTURES, BUT CHALLENGES STUDENTS TO BECOME SUCCESSFUL ACADEMICALLY AND IN LIFE. WE EXIST TO HELP FAMILIES FIND THE BEST EDUCATIONAL FIT FOR THEIR CHILDREN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BETA FOUNDATION IS ORGANIZED TO EDUCATE, TRAIN, AND PREPARE INDIVIDUALS TO FUNCTION WELL IN SOCIETY AND TO PROVIDE EDUCATION OPPORTUNITIES AND EXPERIENCES. BETA FOUNDATION WAS AWARDED ITS K-12 CHARTER IN 2014 AND OPENED IN AUGUST 2015 WITH 480 STUDENTS IN GRADES K - 6. BETA FOUNDATION PLANS TO ADD A GRADE EACH YEAR. IN 2019 BETA ACADEMY ADDED PREK3 AND PREK4 TO ITS GRADES, MAKING IT A PRE-K3-12TH GRADE CHARTER.TOTAL STUDENTS FOR THE 2020-2021 SCHOOL YEAR WAS 1,385.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Latisha D Andrews Ceo/superintendent | Officer | 55 | $165,880 |
Martha L Smith Chief Business/operations | Officer | 55 | $114,926 |
Daniel Neely President | OfficerTrustee | 25 | $0 |
Anita Archer Secretary | OfficerTrustee | 25 | $0 |
Tim King Vice President & Treasurer | OfficerTrustee | 25 | $0 |
Jan Saunders Director | Trustee | 20 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Anslow Bryant Construction Ltd Construction Services - New School | 8/30/21 | $2,148,263 |
Scholastic Solutions Llc Back-office Services | 8/30/21 | $246,488 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,095,649 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,034,789 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,130,438 |
| Total Program Service Revenue | $11,828,732 |
| Investment income | $28,970 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,952 |
| 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 | $15,008,455 |
| 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. | $281,233 |
| Compensation of current officers, directors, key employees. | $21,276 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,325,852 |
| Pension plan accruals and contributions | $37,882 |
| Other employee benefits | $680,718 |
| Payroll taxes | $111,717 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $792,589 |
| Advertising and promotion | $0 |
| Office expenses | $11,749 |
| Information technology | $112,598 |
| Royalties | $0 |
| Occupancy | $598,861 |
| Travel | $25,634 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,196,938 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $623,208 |
| Insurance | $157,201 |
| All other expenses | $68,535 |
| Total functional expenses | $12,401,536 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $5,511,024 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $280,039 |
| Net Land, buildings, and equipment | $26,115,143 |
| Investments—publicly traded securities | $2,110,035 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,096,318 |
| Total assets | $35,112,559 |
| Accounts payable and accrued expenses | $542,194 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $21,991,839 |
| 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 | $0 |
| Other liabilities | $1,101,665 |
| Total liabilities | $23,635,698 |
| Net assets without donor restrictions | $9,738,896 |
| Net assets with donor restrictions | $1,737,965 |
| 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 | $35,112,559 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Beta Foundation has recieved totaling $174,532.
| Awarding Organization | Amount |
|---|---|
Good Reason Houston Inc Houston, TX PURPOSE: District transformation | $70,000 |
M D Anderson Foundation Houston, TX PURPOSE: OPERATING SUPPORT | $50,000 |
Charter Fund Inc Broomfield, CO PURPOSE: EMERGENCY RELIEF | $25,000 |
Jesse W Couch Charitable Foundation Wilmington, DE PURPOSE: 21ST CENTURY EDUCATION PROGRAM | $25,000 |
Dicks Sporting Goods Foundation Coraopolis, PA PURPOSE: STORE MANAGER GRANTS | $3,000 |
Shell Oil Company Foundation Houston, TX PURPOSE: MEF | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Collegiate Academies New Orleans, LA | $15,386,568 | $45,139,366 |
Renew-Reinventing Education New Orleans, LA | $11,254,190 | $34,978,044 |
Foundation For Louisiana Students Baton Rouge, LA | $21,702,876 | $38,265,312 |
East Texas Advanced Academies Longview, TX | $2,379,457 | $32,700,344 |
Basis Texas Charter Schools Inc San Antonio, TX | $92,451,409 | $31,933,223 |
Dove Schools Oklahoma City, OK | $6,243,861 | $28,048,630 |
Discovery Health Sciences Foundation Inc Kenner, LA | $11,194,982 | $30,168,997 |
Arkansas Virtual Academy Little Rock, AR | $3,075,159 | $27,721,037 |
Algiers Charter School Association Inc New Orleans, LA | $11,545,116 | $21,416,188 |
Dzilth-Na-O-Dith-Hle School Board Of Education Bloomfield, NM | $37,723,177 | $9,753,755 |
Einstein Group New Orleans, LA | $9,740,028 | $21,533,973 |
Golden Rule Schools Inc Desto, TX | $72,016,277 | $20,883,674 |