Alternative Education Academy Of Iosco County
- Assets
- $2.4m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Tawas City, MI
- Founding
- 09/2014
- Data as of
- 06/2022
- EIN
- 46-3889824
Organization Overview
Alternative Education Academy Of Iosco County is located in Tawas City, MI. The organization was established in 2014. According to its NTEE Classification (B99) the organization is classified as: Education 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. Alternative Education Academy Of Iosco County 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, Alternative Education Academy Of Iosco County generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.9% each year . All expenses for the organization totaled $1.4m during the year ending 06/2022. While expenses have increased by 14.8% 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
THE PRINCIPAL PURPOSE OF THE ACADEMY IS TO PROVIDE A BLENDED ONLINE LEARNING PATHWAY TO ACADEMIC SUCCESS FOR STUDENTS WHO HAVE DROPPED OUT OR BEEN EXPELLED FROM HIGH SCHOOL. THE BOARD OF THE ACADEMY SHALL CONTROL THE POLICIES OF THE SCHOOL AND SHALL FACILITATE ITS PROGRESS TOWARD GOALS ESTABLISHED BY THE BOARD IN FURTHERANCE OF THE ACADEMY'S PURPOSE. THE ACADEMY IS ORGANIZED AND SHALL BE OPERATED EXCLUSIVELY FOR EDUCATIONAL PURPOSES AS A PUBLIC SCHOOL ACADEMY, PURSUANT TO PART 6A OF THE SCHOOL CODE. THE ACADEMY SHALL BE A PUBLIC EDUCATIONAL INSTITUTION FOR INDIVIDUALS WHO RESIDE IN THE AUTHORIZING BODY'S CONSTITUENT LOCAL SCHOOL DISTRICT. ENROLLMENT IN THE ACADEMY MAY BE OPEN TO ALL INDIVIDUALS WHO RESIDE IN THIS STATE WHO MEET THE ADMISSION POLICY AND SHALL BE OPEN TO ALL PUPILS WHO RESIDE WITHIN THE GEOGRAPHIC BOUNDARIES OF THE IOSCO REGIONAL EDUCATIONAL SERVICE AGENCY (IRESA), SUBJECT TO TOTAL ENROLLMENT LIMITATIONS. THE ACADEMY SHALL BE NON-RELIGIOUS AND SHALL ACCEPT STUDENTS AND H
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ACADEMY PROVIDES TUITION-FREE PUBLIC EDUCATION TO STUDENTS WHO HAVE DROPPED OUT OR BEEN EXPELLED FROM HIGH SCHOOL.
THE ACADEMY PROVIDES TUITION-FREE PUBLIC EDUCATION TO STUDENTS WHO HAVE DROPPED OUT OR BEEN EXPELLED FROM HIGH SCHOOL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tina Williams Program Dire | Officer | 40 | $32,424 |
Lisa Bolen Secretary | OfficerTrustee | 1 | $0 |
Scott Moore President | OfficerTrustee | 1 | $0 |
Robert Kolby Treasurer | OfficerTrustee | 1 | $0 |
Joe Perrera Vice Preside | OfficerTrustee | 1 | $0 |
John Klinger Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,643,054 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,643,054 |
| 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 | $7,719 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,689,851 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $142,983 |
| Fees for services: Legal | $1,060 |
| Fees for services: Accounting | $7,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $939,441 |
| Advertising and promotion | $0 |
| Office expenses | $4,616 |
| Information technology | $60,012 |
| Royalties | $0 |
| Occupancy | $61,653 |
| Travel | $17,605 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,549 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $31,044 |
| Insurance | $12,244 |
| All other expenses | $255 |
| Total functional expenses | $1,351,235 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $240,642 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,130,539 |
| 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 | $6,678 |
| Net Land, buildings, and equipment | $929,507 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $71,409 |
| Total assets | $2,378,775 |
| Accounts payable and accrued expenses | $25,744 |
| 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 | $25,744 |
| Net assets without donor restrictions | $0 |
| 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 | $2,353,031 |
| Total liabilities and net assets/fund balances | $2,378,775 |
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