Universal Academy Charter School Inc
- Assets
- $15.8m
- Revenue
- $7.9m
- Investments
- $0.0
- Employees
- 105
- Location
- Minneapolis, MN
- Founding
- 09/2014
- Data as of
- 06/2022
- EIN
- 46-4392267
Organization Overview
Universal Academy Charter School Inc is located in Minneapolis, MN. 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 06/2022, Universal Academy Charter School Inc employed 105 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Universal Academy Charter School 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, Universal Academy Charter School Inc generated $7.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.9% each year . All expenses for the organization totaled $7.8m during the year ending 06/2022. While expenses have increased by 16.8% 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
UNIVERSAL ACADEMY WILL PROVIDE SUCCESS FOR ALL STUDENTS WITH HIGH QUALITY LEARNING, EMPOWERMENT AND SUPPORT FROM A CARING AND NURTURING STAFF.
Describe the Organization's Program Activity:
Part 3 - Line 4a
A LEARNING COMMUNITY EDUCATING THE WHOLE CHILD, SERVING STUDENTS IN GRADES PREK-8. DURING THE FISCAL YEAR ENDED JUNE 30, 2022, THE ACADEMY SERVED AN ESTIMATED 400 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Farhiya Einte Executive Director | Officer | 40 | $157,250 |
Lucy Crosby Member | Trustee | 40 | $68,932 |
Marianne Mlambe Member | Trustee | 40 | $62,836 |
Randa Roushdy Member | Trustee | 40 | $61,402 |
Anisa Hashi Member | Trustee | 2 | $0 |
Abdulkadir Osman Vice Chair | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Golden Finger Food Service | 6/29/22 | $307,777 |
Minnehaha Transportation Inc Transportation | 6/29/22 | $289,769 |
Designs For Learning Financial Services | 6/29/22 | $183,430 |
Starline Cleaning Services Inc Cleaning Services | 6/29/22 | $113,698 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $600,933 |
| All other contributions, gifts, grants, and similar amounts not included above | $132,651 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $733,584 |
| Total Program Service Revenue | $7,193,265 |
| Investment income | $2,611 |
| 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 | $7,929,460 |
| 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. | $312,643 |
| Compensation of current officers, directors, key employees. | $148,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,109,987 |
| Pension plan accruals and contributions | $289,064 |
| Other employee benefits | $159,016 |
| Payroll taxes | $256,454 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,815 |
| Fees for services: Accounting | $96,453 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $301,286 |
| Advertising and promotion | $0 |
| Office expenses | $366,320 |
| Information technology | $210,125 |
| Royalties | $0 |
| Occupancy | $289,784 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $18,508 |
| Interest | $345,854 |
| Payments to affiliates | $27,678 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $164,880 |
| All other expenses | $0 |
| Total functional expenses | $7,827,411 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,465,044 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,995 |
| 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 | $750,416 |
| Net Land, buildings, and equipment | $6,318,482 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,255,527 |
| Total assets | $15,792,464 |
| Accounts payable and accrued expenses | $610,972 |
| Grants payable | $0 |
| Deferred revenue | $18,330 |
| 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 | $6,048,997 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,134,692 |
| Total liabilities | $10,812,991 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $4,705,526 |
| Paid-in or capital surplus, or land, building, or equipment fund | $269,485 |
| Retained earnings, endowment, accumulated income, or other funds | $4,462 |
| Total liabilities and net assets/fund balances | $15,792,464 |