Ednovate Inc
- Assets
- $39.6m
- Revenue
- $50.2m
- Investments
- $0.0
- Employees
- 297
- Location
- Los Angeles, CA
- Founding
- 09/2013
- Data as of
- 06/2022
- EIN
- 45-4005918
Organization Overview
Ednovate Inc is located in Los Angeles, CA. The organization was established in 2013. 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, Ednovate Inc employed 297 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ednovate 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 06/2022, Ednovate Inc generated $50.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 27.1% each year . All expenses for the organization totaled $42.8m during the year ending 06/2022. While expenses have increased by 27.0% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
EDNOVATE, INC. OPERATES SIX HIGH QUALITY CALIFORNIA PUBLIC CHARTER HIGH SCHOOLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDNOVATE, INC. SERVED APPROXIMATELY 2300 STUDENTS & OFFERED 178 INSTRUCTIONAL DAYS IN THE 2021-22 FISCAL YEAR.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Oliver Sicat Chief Executive Officer | Officer | 40 | $278,611 |
Jesse Sage Noonan Chief Academic Officer | Officer | 40 | $203,419 |
Olumide Macaulay Chief Of Schools | Officer | 40 | $189,719 |
Katherine Hart Chief Operating Officer | Officer | 40 | $180,395 |
Rosa Alanis Principal, Esperanza Colle | 40 | $149,594 | |
Evelyn Castro Principal, Legacy College | 40 | $146,234 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
350 Figueroa Llc Rent | 6/29/22 | $519,101 |
Wilshire Properties Rent | 6/29/22 | $299,335 |
Mds Advisors Consulting Group Llc Advisory | 6/29/22 | $112,018 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $47,691,034 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,300,863 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $49,991,897 |
| Total Program Service Revenue | $0 |
| Investment income | $45,652 |
| 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 | $50,209,560 |
| 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. | $945,300 |
| Compensation of current officers, directors, key employees. | $94,530 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $16,010,205 |
| Pension plan accruals and contributions | $316,761 |
| Other employee benefits | $1,725,942 |
| Payroll taxes | $1,134,066 |
| 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 | $0 |
| Advertising and promotion | $308,184 |
| Office expenses | $1,620,506 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,077,064 |
| Travel | $85,459 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $96,158 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $245,136 |
| Insurance | $293,143 |
| All other expenses | $0 |
| Total functional expenses | $42,822,894 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $15,920,656 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,424,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,375,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $631,714 |
| Net Land, buildings, and equipment | $1,654,939 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,611,700 |
| Total assets | $39,618,009 |
| Accounts payable and accrued expenses | $5,116,316 |
| Grants payable | $0 |
| Deferred revenue | $2,664,880 |
| 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 | $4,589,790 |
| Other liabilities | $2,424,060 |
| Total liabilities | $14,795,046 |
| Net assets without donor restrictions | $23,916,451 |
| Net assets with donor restrictions | $906,512 |
| 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 | $39,618,009 |