Palmdale Aerospace Academy Inc
- Assets
- $22.9m
- Revenue
- $35.6m
- Investments
- $0.0
- Employees
- 338
- Location
- Palmdale, CA
- Founding
- 09/2012
- Data as of
- 06/2021
- EIN
- 45-3851539
Organization Overview
Palmdale Aerospace Academy Inc is located in Palmdale, CA. 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 06/2021, Palmdale Aerospace Academy Inc employed 338 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Palmdale Aerospace Academy 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, Palmdale Aerospace Academy Inc generated $35.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 19.8% each year . All expenses for the organization totaled $29.3m during the year ending 06/2021. While expenses have increased by 21.8% 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
TO PREPARE ITS GRADUATES FOR COLLEGE AND JOBS IN THE 21ST CENTURY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO MANAGE AND OPERATE A CHARTER SCHOOL AND PROVIDE EDUCATION FOR STUDENTS IN KINDERGARTEN THROUGH TWELFTH GRADE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Dilger Chief Operations Officer | Officer | 40 | $139,691 |
Kimberly Myers- Morris Psychologist | 40 | $117,494 | |
Matthew Winheim Executive Director/superintendent | Officer | 40 | $108,715 |
Julie Braswell Executive Director/superintendent | Officer | 40 | $103,440 |
Gary Roberts Treasurer | OfficerTrustee | 2 | $0 |
Kathe Duren President | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $35,372,627 |
| All other contributions, gifts, grants, and similar amounts not included above | $213,292 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $35,585,919 |
| Total Program Service Revenue | $0 |
| 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 | $35,585,919 |
| 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. | $428,609 |
| Compensation of current officers, directors, key employees. | $428,609 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,862,110 |
| Pension plan accruals and contributions | $2,339,215 |
| Other employee benefits | $3,016,619 |
| Payroll taxes | $399,517 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $190,014 |
| Fees for services: Accounting | $42,935 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $793,347 |
| Advertising and promotion | $0 |
| Office expenses | $281,010 |
| Information technology | $792,533 |
| Royalties | $0 |
| Occupancy | $5,268,886 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $526,827 |
| Insurance | $219,956 |
| All other expenses | $117,122 |
| Total functional expenses | $29,290,521 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,336,050 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,873,923 |
| 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 | $673,860 |
| Net Land, buildings, and equipment | $1,777,648 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $195,424 |
| Total assets | $22,856,905 |
| Accounts payable and accrued expenses | $3,315,347 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,463,047 |
| Total liabilities | $5,778,394 |
| Net assets without donor restrictions | $17,078,511 |
| 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 | $22,856,905 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Palmdale Aerospace Academy Inc has recieved totaling $19,500.
| Awarding Organization | Amount |
|---|---|
Project Lead The Way Inc Indianapolis, IN PURPOSE: Program Implementation | $10,000 |
For Inspiration And Recognition Of Science And Technology First Manchester, NH PURPOSE: Program Support | $9,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Rocketship Education Redwood City, CA | $74,871,482 | $120,667,231 |
American Leadership Academy Inc Mesa, AZ | $282,415,478 | $95,654,658 |
Five Keys Schools And Programs San Francisco, CA | $50,545,317 | $97,031,582 |
Inspire Charter Schools Duarte, CA | $15,814,456 | $76,018,441 |
Edkey Inc Mesa, AZ | $135,819,543 | $83,812,049 |
River Springs Charter School Inc Temecula, CA | $93,652,592 | $73,899,584 |
Granada Hills Charter Granada Hills, CA | $124,597,337 | $79,128,584 |
California Online Public Schools San Juan Capistrano, CA | $32,661,705 | $70,303,969 |
Camino Nuevo Charter Academy Los Angeles, CA | $62,441,915 | $60,583,098 |
Gateway Community Charters Mcclellan, CA | $96,780,042 | $72,531,964 |
Visions In Education Carmichael, CA | $94,876,505 | $77,038,173 |
Ofl-Baldwin Park Inc Pasadena, CA | $26,446,895 | $59,505,291 |