Ednovate Inc
- Assets
- $33.4m
- Revenue
- $37.7m
- Investments
- $0.0
- Employees
- 252
- Location
- Los Angeles, CA
- Founding
- 09/2013
- Data as of
- 06/2021
- 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 06/2021, Ednovate Inc employed 252 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 06/2021, Ednovate Inc generated $37.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 26.1% each year . All expenses for the organization totaled $30.1m during the year ending 06/2021. While expenses have increased by 24.6% 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
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 2295 STUDENTS & OFFERED 180 INSTRUCTIONAL DAYS IN THE 2020-21 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 | $237,917 |
Jesse Sage Noonan Chief Academic Officer | Officer | 40 | $187,603 |
Kara Mcguire Chief Of Staff | 40 | $170,248 | |
Olumide Macaulay Chief Of Schools | Officer | 40 | $160,660 |
Rosa Alanis Principal, Esperanza Colle | 40 | $147,696 | |
Andrew Goltermann Principal, East College Pr | 40 | $143,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Haynes Building Services Llc Janitorial Services | 6/29/21 | $211,928 |
Mds Advisors Consulting Group Llc Advisory | 6/29/21 | $173,523 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $35,568,837 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,058,740 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $37,627,577 |
| Total Program Service Revenue | $370 |
| Investment income | $44,947 |
| 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 | $37,749,342 |
| 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. | $866,140 |
| Compensation of current officers, directors, key employees. | $155,905 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,668,651 |
| Pension plan accruals and contributions | $496,731 |
| Other employee benefits | $1,630,226 |
| Payroll taxes | $886,795 |
| 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 | $260,700 |
| Office expenses | $1,752,403 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,162,299 |
| Travel | $31,386 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $175,292 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $282,934 |
| Insurance | $287,581 |
| All other expenses | $0 |
| Total functional expenses | $30,069,429 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $6,399,457 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,656,888 |
| 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 | $791,035 |
| Net Land, buildings, and equipment | $3,179,938 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,965,000 |
| Total assets | $33,367,318 |
| Accounts payable and accrued expenses | $3,096,994 |
| Grants payable | $0 |
| Deferred revenue | $1,176,095 |
| 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 | $9,864,032 |
| Other liabilities | $1,793,900 |
| Total liabilities | $15,931,021 |
| Net assets without donor restrictions | $16,464,029 |
| Net assets with donor restrictions | $972,268 |
| 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 | $33,367,318 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Ednovate Inc has recieved totaling $2,071,909.
| Awarding Organization | Amount |
|---|---|
Windsong Tr Manhattan Beach, CA PURPOSE: EDUCATIONAL PROGRAM SUPPORT | $750,000 |
Great Public Schools Now Los Angeles, CA PURPOSE: RECORD EDNOVATE LOAN CONVERSION TO GRANT | $500,000 |
Bill & Melinda Gates Foundation Seattle, WA PURPOSE: K-12 EDUCATION | $439,000 |
Bill & Melinda Gates Foundation Seattle, WA PURPOSE: K-12 EDUCATION | $215,487 |
Michael & Susan Dell Foundation Austin, TX PURPOSE: 2020 ED-FI AIG: EDNOVATE - COLLEGE READINESS | $80,854 |
The James And Glenys Slavik Family Foundation Newport Beach, CA PURPOSE: TO PREPARE STUDENTS FROM ORANGE COUNTY'S MOST UNDER-RESOURCED COMMUNITIES FOR SUCCESS IN SCHOOL AND LIFE, EMPOWERING THEM TO USE THEIR COLLEGE DEGREES AND CAREERS TO MAKE A POSITIVE MULTI GENERATIONAL CHANGE | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Harvard-Westlake School Studio City, CA | $519,427,126 | $134,983,009 |
The Harker School San Jose, CA | $301,623,113 | $112,065,304 |
Taipei American School Foundation Los Angeles, CA | $200,440,067 | $84,912,591 |
Roessler-Chadwick Foundation Palos Verdes Peninsula, CA | $148,653,684 | $85,001,982 |
Antelope Valley Learning Academy Inc Valencia, CA | $39,011,789 | $89,911,071 |
Iolani School Honolulu, HI | $388,589,856 | $96,713,611 |
Valley Christian Schools San Jose, CA | $114,034,879 | $67,792,442 |
Crossroads School For Arts And Sciences Santa Monica, CA | $228,466,642 | $71,695,660 |
Pinecrest Academy Of Nevada Las Vegas, NV | $180,969,815 | $55,227,601 |
Brentwood School Los Angeles, CA | $181,845,528 | $61,517,128 |
Viewpoint Educational Foundation Calabasas, CA | $147,164,644 | $51,317,532 |
Francis Parker School San Diego, CA | $194,908,820 | $57,687,551 |