Oak Academies Inc
- Assets
- $6.0m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 1
- Location
- Houston, TX
- Founding
- 06/2014
- Data as of
- 12/2022
- EIN
- 46-3674259
Organization Overview
Oak Academies Inc is located in Houston, TX. The organization was established in 2014. According to its NTEE Classification (B19) the organization is classified as: Support N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Oak Academies 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 12/2022, Oak Academies Inc generated $2.8m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 34.6% each year . All expenses for the organization totaled $2.3m during the year ending 12/2022. While expenses have increased by 32.1% per year over the past 8 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
TO SUPPORT OTHER AFFILIATED ORGANIZATIONS TO PROMOTE THE CHARITABLE AND EDUCATIONAL ACTIVITIES OF THE SUPPORTED ORGANIZATION. TO RECEIVE, MANAGE AND DISTRIBUTE CONTRIBUTIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT ACTIVITIES TO ENCOURAGE ENROLLMENT IN EDUCATIONAL ACTIVITIES MEANWHILE MANAGING CONTRIBUTIONS FROM PUBLIC AND PRIVATE SOURCES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jose Gerardo Cardenas Secretary And Treasurer | OfficerTrustee | 0 | $0 |
Gabriel Ramon Sotres President | OfficerTrustee | 0 | $0 |
Luis Manuel Gutierrez Director | Trustee | 0 | $0 |
Jesus Villagrasa Vice President | OfficerTrustee | 0 | $0 |
Michael Brisson Director | Trustee | 0 | $0 |
Frank Formolo Assistant Secretary | Officer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $563,876 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $107,052 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $670,928 |
| Total Program Service Revenue | $2,089,459 |
| 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 | $2,787,814 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $203,000 |
| 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 | $43,563 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $12,166 |
| Payroll taxes | $12,094 |
| Fees for services: Management | $1,001,731 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,779 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $72,182 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $322 |
| Total functional expenses | $2,336,825 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,281,882 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,639,157 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $46,244 |
| Total assets | $5,967,283 |
| Accounts payable and accrued expenses | $3,536,722 |
| 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 | $0 |
| Total liabilities | $3,536,722 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $2,430,561 |
| 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 | $5,967,283 |
Grants Awarded
Over the last fiscal year, Oak Academies Inc has awarded $1,120,027 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
OVERBROOK INC PURPOSE: TO PROMOTE, SPONSOR, AND DONATE FUNDS TO EDUCATIONAL ORGANIZATIONS | $322,650 |
THE LEGION OF CHRIST NORTH AMERICA INC PURPOSE: TO PROMOTE, SPONSOR, AND DONATE FUNDS TO EDUCATIONAL ORGANIZATION | $245,926 |
OAKLAWN INC PURPOSE: TO PROMOTE, SPONSOR, AND DONATE FUNDS TO EDUCATIONAL ORGANIZATION | $551,451 |