Wise Learning Corporation
- Assets
- $11.9m
- Revenue
- $4.2m
- Investments
- $0.0
- Employees
- 67
- Location
- Dearborn Heights, MI
- Founding
- 07/2012
- Data as of
- 12/2023
- EIN
- 45-3211370
Organization Overview
Wise Learning Corporation is located in Dearborn Heights, MI. The organization was established in 2012. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 12/2023, Wise Learning Corporation employed 67 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wise Learning Corporation 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 12/2023, Wise Learning Corporation generated $4.2m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $3.7m during the year ending 12/2023. 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
TO REACH FOR ACADEMIC AND ETHICAL EXCELLENCE THROUGH HIGH QUALITY EDUCATION, PROFESSIONAL AND SAFE ENVIRONMENT EQUIPPED WITH STATE-OF-THE ART FACILITIES, AND A HIGHLY QUALIFIED TEAM OF EXPERTS TO REPRESENT THE VISION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WISE ENROLLED MORE THAN 280 STUDENTS IN SCHOOL YEAR 2022-2023
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hassanain Rajabali President | OfficerTrustee | 40 | $27,692 |
Muhammed Jaffer Director | Trustee | 4 | $0 |
Inayat Walli Director | Trustee | 15 | $0 |
Hussein Charara Director | Trustee | 20 | $0 |
Ayaz Virji Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $570,400 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $570,400 |
| Total Program Service Revenue | $3,590,325 |
| Investment income | $0 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,160,725 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,546,678 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $130,013 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,701 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $436,312 |
| Advertising and promotion | $1,847 |
| Office expenses | $71,969 |
| Information technology | $15,877 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $17,384 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $183,451 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $423,241 |
| Insurance | $25,739 |
| All other expenses | $369,618 |
| Total functional expenses | $3,692,804 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $299,181 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $533,987 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $37,650 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $69 |
| Net Land, buildings, and equipment | $10,542,888 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $411,615 |
| Intangible assets | $89,344 |
| Other assets | $0 |
| Total assets | $11,914,734 |
| Accounts payable and accrued expenses | $0 |
| 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 | $3,457,439 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $18,246 |
| Total liabilities | $3,475,685 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $8,439,049 |
| Total liabilities and net assets/fund balances | $11,914,734 |
Grants Awarded
Over the last fiscal year, Wise Learning Corporation has awarded $110,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
TAWHEED INSTITUTE INC PURPOSE: EDUCATION | $100,000 |
CAMP TAHA INC PURPOSE: EDUCATION | $10,000 |