Next Generation Academy Inc
- Assets
- $512.7k
- Revenue
- $5.5m
- Investments
- $0.0
- Employees
- 91
- Location
- Greensboro, NC
- Founding
- 06/2018
- Data as of
- 06/2022
- EIN
- 46-4091036
Organization Overview
Next Generation Academy Inc is located in Greensboro, NC. The organization was established in 2018. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Next Generation Academy Inc employed 91 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Next Generation Academy 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, Next Generation Academy Inc generated $5.5m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 42.3% each year . All expenses for the organization totaled $5.3m during the year ending 06/2022. While expenses have increased by 26.8% per year over the past 4 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
OPERATION OF A NORTH CAROLINA PUBLIC CHARTER SCHOOL
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATED A PUBLIC CHARTER SCHOOL IN GREENSBORO NORTH CAROLINA SERVING APPROXIMATELY 313 STUDENTS FOR THE FISCAL YEAR ENDED 6/30/22
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Miller Board Chair | OfficerTrustee | 2 | $0 |
Sebastian King Vice Chair | OfficerTrustee | 1.5 | $0 |
Brian Moore Treasurer | OfficerTrustee | 1.5 | $0 |
Luis Bastidas Member | Trustee | 1 | $0 |
Rosalyn Moore Member | Trustee | 1 | $0 |
Donna Foster Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,051,731 |
| All other contributions, gifts, grants, and similar amounts not included above | $248,949 |
| Noncash contributions included in lines 1a–1f | $147,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,300,680 |
| Total Program Service Revenue | $3,204,537 |
| 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 | $8,537 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,535,592 |
| 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. | $66,000 |
| Compensation of current officers, directors, key employees. | $66,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,612,683 |
| Pension plan accruals and contributions | $2,787 |
| Other employee benefits | $248,018 |
| Payroll taxes | $229,322 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $17,713 |
| Fees for services: Accounting | $7,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $547,684 |
| Advertising and promotion | $16,558 |
| Office expenses | $111,616 |
| Information technology | $16,778 |
| Royalties | $0 |
| Occupancy | $430,036 |
| Travel | $30,019 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,202 |
| Interest | $358,883 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $52,946 |
| Insurance | $17,775 |
| All other expenses | $43,818 |
| Total functional expenses | $5,285,497 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $216,573 |
| 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 | $50,000 |
| Net Land, buildings, and equipment | $246,087 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $512,660 |
| Accounts payable and accrued expenses | $267,320 |
| 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 | $102,165 |
| Unsecured mortgages and notes payable | $15,128 |
| Other liabilities | $308,552 |
| Total liabilities | $693,165 |
| Net assets without donor restrictions | -$180,505 |
| 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 | $512,660 |