Universal Academy Charter School Inc
- Assets
- $9.2m
- Revenue
- $7.1m
- Investments
- $0.0
- Employees
- 96
- Location
- Minneapolis, MN
- Founding
- 09/2014
- Data as of
- 06/2021
- 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 06/2021, Universal Academy Charter School Inc employed 96 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 06/2021, Universal Academy Charter School Inc generated $7.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 14.4% each year . All expenses for the organization totaled $6.3m during the year ending 06/2021. While expenses have increased by 15.5% 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
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, 2021, THE ACADEMY SERVED AN ESTIMATED 400 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lucy Crosby Member | Trustee | 40 | $68,932 |
Marianne Mlambe Member | Trustee | 40 | $62,836 |
Abdulkadir Osman Vice Chair | OfficerTrustee | 2 | $0 |
Amiin Harun Board Chair | OfficerTrustee | 2 | $0 |
Anisa Hashi Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Designs For Learning Financial Services | 6/29/21 | $168,124 |
Done Right Food Inc Food Service | 6/29/21 | $109,997 |
Minnehaha Transportation Inc Transportation | 6/29/21 | $323,008 |
Shunaki Technologies Inc Technology | 6/29/21 | $233,013 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $563,745 |
| All other contributions, gifts, grants, and similar amounts not included above | $167,127 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $730,872 |
| Total Program Service Revenue | $6,411,797 |
| Investment income | $970 |
| 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 | $7,143,639 |
| 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. | $116,624 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,574,950 |
| Pension plan accruals and contributions | $231,719 |
| Other employee benefits | $130,610 |
| Payroll taxes | $200,389 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $90 |
| Fees for services: Accounting | $95,153 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $315,144 |
| Advertising and promotion | $0 |
| Office expenses | $360,246 |
| Information technology | $454,712 |
| Royalties | $0 |
| Occupancy | $1,033,550 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,018 |
| Interest | $0 |
| Payments to affiliates | $26,605 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $17,016 |
| All other expenses | $0 |
| Total functional expenses | $6,277,264 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,120,526 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $600,742 |
| Net Land, buildings, and equipment | $501,765 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,927,148 |
| Total assets | $9,150,181 |
| Accounts payable and accrued expenses | $625,422 |
| 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 | $3,647,335 |
| Total liabilities | $4,272,757 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $4,375,659 |
| Paid-in or capital surplus, or land, building, or equipment fund | $501,765 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $9,150,181 |
Endowment Analysis
| Net Contributions | $2,900 |
| Ending Balance | $2,900 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Seeds Of Health Milwaukee, WI | $21,433,274 | $18,248,715 |
Twin Cities International Schools Minneapolis, MN | $10,477,770 | $17,272,708 |
Eagle Ridge Academy Minnetonka, MN | $14,507,492 | $16,854,949 |
Lakes International Language Academy Forest Lake, MN | $12,188,611 | $15,744,589 |
Parnassus Preparatory School Maple Grove, MN | $11,987,253 | $16,239,729 |
Hmong American Peace Academy Ltd Milwaukee, WI | $62,055,663 | $22,180,285 |
Seven Hills Preparatory Academy Bloomington, MN | $12,008,176 | $15,420,403 |
St Croix Preparatory Academy Stillwater, MN | $15,400,325 | $14,730,120 |
Athlos Leadership Academy Brooklyn Park, MN | $8,310,126 | $14,353,758 |
Prairie Seeds Academy Brooklyn Park, MN | $11,928,237 | $14,361,129 |
Kipp Minnesota Minneapolis, MN | $9,470,276 | $14,681,951 |
Prodeo Academy Columbia Heights, MN | $7,923,634 | $13,232,357 |