Midlands Stem Institute Inc
- Assets
- $849.5k
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 51
- Location
- Winnsboro, SC
- Founding
- 06/2014
- Data as of
- 06/2021
- EIN
- 46-3368831
Organization Overview
Midlands Stem Institute Inc is located in Winnsboro, SC. The organization was established in 2014. 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, Midlands Stem Institute Inc employed 51 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Midlands Stem Institute 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, Midlands Stem Institute Inc generated $3.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.3% each year. All expenses for the organization totaled $2.5m during the year ending 06/2021. While expenses have increased by 10.1% 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
MIDLANDS STEM INSTITUTE OFFERS A UNIQUE OPPORTUNITY FOR STUDENTS TO EARN A HIGH QUALITY EDUCATION IN SCIENCE, TECHNOLOGY, ENGINEERING, AND MATHEMATICS (STEM).
Describe the Organization's Program Activity:
Part 3 - Line 4a
MIDLANDS STEM INSTITUTE (MSI) OFFERS A UNIQUE OPPORTUNITY FOR STUDENTS TO OBTAIN A HIGH QUALITY EDUCATION IN SCIENCE, TECHNOLOGY, ENGINEERING, AND MATHEMATICS (STEM). MSI IS A TUITION-FREE PUBLIC CHARTER SCHOOL AND OPENED IN AUGUST 2014. MSI'S MISSION IS TO PRODUCE ACADEMICALLY AND PHYSICALLY FIT STEM PROFICIENT STUDENTS. MSI OFFERS PARENTS AND GUARDIANS A CHOICE OF TRADITIONAL GRADE STRUCTURES OR MULTI-AGE LEARNING ENVIRONMENTS, AND THE OPTION OF FACE-TO-FACE OR ONLINE DISTANCE LEARNING. IN ADDITION TO PROVIDING AN ALTERNATIVE TO TRADITIONAL PUBLIC SCHOOL OR PRIVATE SCHOOL EDUCATIONAL OPTIONS, MSI SERVES KINDERGARTEN (AGE 5) STUDENTS THROUGH 11TH GRADE AND ADDS A GRADE EVERY YEAR UNTIL MATRICULATION AT 12TH GRADE. AT MSI, STUDENTS HAVE LEARNING OPPORTUNITIES THAT HELP THEM SET COURSES FOR PRODUCTIVE FUTURES. MSI'S GOAL IS TO PREPARE OUR YOUTH FOR THE FURTURE BY EQUIPPING THEM WITH THE SKILLS THEY NEED FOR GAINFUL EMPLOYMENT AND HEALTHY LIVES. STEM EDUCATION GOES WELL BEYOND TRADITIONAL SCHOOL CURRICULUM, AND OPENS AVENUES FOR STUDENTS IN A VARIETY OF FIELDS. STUDENTS AT MSI LEARN THROUGH ENGAGING AND CHALLENGING EXPERIENCES THAT FOCUS ON PROBLEM-SOLVING IN REAL WORLD SETTINGS. MSI'S HEALTH AND FITNESS PROGRAM FOCUSES ON PHYSICAL FITNESS, WELL-BEING, DIET, AND NUTRITION. MSI IS FOCUSED ON STEM EDUCATION, BUT ALSO PROVIDES SPANISH LANGUAGE INSTRUCTION, ART, MUSIC, SPORTS, CLUBS, AND CULTURAL EXPERIENCES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cynthia Prince Executive Director | Officer | 60 | $93,306 |
Steven Gilchrist Vice Chair | OfficerTrustee | 1 | $0 |
Emily Estep Secretary | OfficerTrustee | 1 | $0 |
Kevin Thomas Board Chair | OfficerTrustee | 1 | $0 |
Dan Campbell Treasurer | OfficerTrustee | 1 | $0 |
Mark Johnston Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
West Electrical Contractors Facility Work | 6/29/21 | $110,357 |
Rockton Baptist Church Renting Facilites | 6/29/21 | $107,789 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,915,343 |
| All other contributions, gifts, grants, and similar amounts not included above | $408 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,915,751 |
| Total Program Service Revenue | $58,300 |
| Investment income | $21 |
| 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 | $2,974,072 |
| 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. | $93,306 |
| Compensation of current officers, directors, key employees. | $46,653 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,165,197 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $142,932 |
| Payroll taxes | $106,546 |
| Fees for services: Management | $38,658 |
| Fees for services: Legal | $29,860 |
| Fees for services: Accounting | $9,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $338,704 |
| Advertising and promotion | $14,362 |
| Office expenses | $11,199 |
| Information technology | $119,344 |
| Royalties | $0 |
| Occupancy | $212,485 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $6,676 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $44,691 |
| Insurance | $9,807 |
| All other expenses | $15,807 |
| Total functional expenses | $2,476,148 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $230,866 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $402,771 |
| 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 | $30,590 |
| Net Land, buildings, and equipment | $142,533 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $42,700 |
| Total assets | $849,460 |
| Accounts payable and accrued expenses | $53,377 |
| 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 | $139,614 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $192,991 |
| Net assets without donor restrictions | $656,469 |
| 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 | $849,460 |
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Uwharrie Green School Inc Asheboro, NC | $37,750,042 | $15,359,750 |
Bradford Preparatory School Charlotte, NC | $43,531,972 | $16,692,910 |
Triangle Charter Education Association Inc Cary, NC | $23,775,884 | $15,148,719 |
Invest Collegiate Imagine Inc Asheville, NC | $38,770,080 | $14,359,175 |
Henderson Collegiate Henderson, NC | $34,215,458 | $16,220,503 |
Coastal Plains Education Center Inc Metter, GA | $21,944,449 | $17,839,473 |
Mountain Island Charter School Inc Mount Holly, NC | $10,307,817 | $15,645,892 |
High Point Academy Inc Spartanburg, SC | $32,871,458 | $16,108,414 |
Wesley International Academy Inc Atlanta, GA | $9,201,005 | $14,194,787 |