Exalt Academy Of Southwest Little Rock
- Assets
- $1.5m
- Revenue
- $6.0m
- Investments
- $0.0
- Employees
- 72
- Location
- Little Rock, AR
- Founding
- 06/2015
- Data as of
- 06/2021
- EIN
- 46-4412800
Organization Overview
Exalt Academy Of Southwest Little Rock is located in Little Rock, AR. The organization was established in 2015. 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, Exalt Academy Of Southwest Little Rock employed 72 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Exalt Academy Of Southwest Little Rock 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, Exalt Academy Of Southwest Little Rock generated $6.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 13.5% each year . All expenses for the organization totaled $5.8m during the year ending 06/2021. While expenses have increased by 16.8% 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
EXALT ACADEMY OF SOUTHWEST LITTLE ROCK PREPARES STUDENTS FROM EDUCATIONALLY UNDER-SERVED AREAS OF SOUTHWEST LITTLE ROCK FOR COMPETITIVE COLLEGES AND ADVANCED CAREERS FROM AN EARLY AGE BY ENSURING MASTERY OF THE CORE SUBJECTS AND DEVELOPING THE BEHAVIORS REQUIRED FOR SUCCESS, CITIZENSHIP AND LEADERSHIP IN THEIR COMMUNITIES AND BEYOND
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXALT ACADEMY OF SOUTHWEST LITTLE ROCK PREPARES STUDENTS FROM EDUCATIONALLY UNDERSERVED AREAS OF SOUTHWEST LITTLE ROCK FOR COMPETITIVE COLLEGES AND ADVANCED CAREERS FROM AN EARLY AGE BY ENSURING MASTERY OF THE CORE SUBJECTS AND DEVELOPING THE BEHAVIORS REQUIRED FOR SUCCESS, CITIZENSHIP AND LEADERSHIP IN THEIR COMMUNITIES AND BEYOND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Latonya Honorable Board President | Officer | 1 | $0 |
Tim Zimmerman Board Member | Officer | 1 | $0 |
Terrence Long Board Member | Officer | 1 | $0 |
Maria Weyrens Board Member | Officer | 1 | $0 |
Ruth Nash Board Member | Officer | 1 | $0 |
Kevin Scribner Board Member | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Exalt Education Education Management | 6/29/16 | $356,607 |
Preferred Meals Systems Food Services | 6/29/16 | $220,707 |
Second Baptist Church Facility Lease | 6/29/16 | $207,213 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,619,546 |
| 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 | $5,619,546 |
| Total Program Service Revenue | $371,667 |
| 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 | $5,991,213 |
| 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 | $2,362,935 |
| Pension plan accruals and contributions | $336,284 |
| Other employee benefits | $171,269 |
| Payroll taxes | $175,434 |
| Fees for services: Management | $883,846 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,351 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $16,197 |
| Office expenses | $10,691 |
| Information technology | $162,138 |
| Royalties | $0 |
| Occupancy | $845,261 |
| Travel | $1,682 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,859 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $12,723 |
| All other expenses | $0 |
| Total functional expenses | $5,827,956 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,369,702 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $170,656 |
| 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 | $0 |
| Total assets | $1,540,358 |
| Accounts payable and accrued expenses | $54,848 |
| 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 | $54,848 |
| Net assets without donor restrictions | $1,225,737 |
| Net assets with donor restrictions | $259,773 |
| 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 | $1,540,358 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lighthouse Academies Of Arkansas Inc North Little Rock, AR | $582,799 | $18,301,867 |
New Beginnings School Foundation New Orleans, LA | $1,802,768 | $18,016,749 |
Hynes Charter School Corporation New Orleans, LA | $8,219,375 | $19,932,415 |
Legacy21 Inc Mesquite, TX | $40,270,776 | $19,212,915 |
Ewing Marion Kauffman School Inc Kansas City, MO | $12,328,924 | $22,686,630 |
Memphis Business Academy Memphis, TN | $29,884,603 | $21,343,740 |
International Academy Williamson County Round Rock, TX | $33,542,303 | $17,313,740 |
South Louisiana Charter Foundation Inc Baton Rouge, LA | $21,098,630 | $17,110,169 |
Morris Jeff Community School New Orleans, LA | $5,535,424 | $16,539,603 |
Crossroads Charter Schools Kansas City, MO | $14,061,355 | $16,288,564 |
Young Audiences Charter Association Gretna, LA | $6,537,878 | $17,122,666 |
New Orleans Military And Maritime Academy Inc New Orleans, LA | $24,580,982 | $15,429,354 |