T2 Honors Academy
- Assets
- $916.6k
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 20
- Location
- Warrensville Heights, OH
- Founding
- 10/2016
- Data as of
- 06/2022
- EIN
- 46-4458417
Organization Overview
T2 Honors Academy is located in Warrensville Heights, OH. The organization was established in 2016. 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, T2 Honors Academy employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. T2 Honors Academy 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, T2 Honors Academy generated $1.5m in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 8.5% each year. All expenses for the organization totaled $1.4m during the year ending 06/2022. While expenses have increased by 3.6% per year over the past 3 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
T SQUARED HONORS ACADEMY WILL UTILIZE A RIGOROUS INNOVATIVE ACADEMIC CURRICULUM TO INFUSE A PASSION FOR PEOPLE, INTRINSIC MOTIVATION AND SELF-DISCIPLINE IN ITS STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STATE GRANT FUNDING TO THE SCHOOL FOR EDUCATIONAL PURPOSES
REIMBURSMENT OF FEDERAL GRANTS AWARDED TO THE SCHOOL
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Board Member | Trustee | 1 | $700 |
Name Not Listed Board Member | Trustee | 1 | $0 |
Name Not Listed Board Member | Trustee | 1 | $650 |
Name Not Listed Board Member | Trustee | 1 | $700 |
Name Not Listed Board Member | Trustee | 1 | $650 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $609,381 |
| All other contributions, gifts, grants, and similar amounts not included above | $820,949 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,430,330 |
| 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 | $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 | $1,461,107 |
| 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 | $667,457 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $62,538 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,783 |
| Fees for services: Accounting | $42,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $68,605 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $98,955 |
| Insurance | $9,393 |
| All other expenses | $326,891 |
| Total functional expenses | $1,360,003 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $172,000 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $34,230 |
| Accounts receivable, net | $11,022 |
| 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 | $362,589 |
| Net Land, buildings, and equipment | $259,846 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $76,896 |
| Total assets | $916,583 |
| Accounts payable and accrued expenses | $193,678 |
| Grants payable | $0 |
| Deferred revenue | $606,177 |
| 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 | $693,646 |
| Total liabilities | $1,493,501 |
| 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 | $54,347 |
| Retained earnings, endowment, accumulated income, or other funds | -$631,265 |
| Total liabilities and net assets/fund balances | $916,583 |