Salvaggio Academy
- Assets
- $43.6m
- Revenue
- -$2.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Allentown, PA
- Founding
- 10/2014
- Data as of
- 06/2022
- EIN
- 46-5443812
Organization Overview
Salvaggio Academy is located in Allentown, PA. The organization was established in 2014. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Salvaggio Academy is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE CAI LEARNING ACADEMY IS A PRIVATE SCHOOL COMMITTED TO LEVERAGING FORWARD-THINKING TECHNOLOGY DRIVEN INSTRUCTION THAT MAKES LEARNING MORE EFFECTIVE AND WILL EQUIP STUDENTS WITH THE SKILLS NECESSARY FOR LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION SERVICES PROVIDED THROUGH A PRIVATE SCHOOL IN A LOW-INCOME SECTION OF ALLENTOWN, PA. THE SCHOOLS EDUCATIONAL PROGRAM USES LEADING EDGE SOFTWARE AND TEACHING TECHNIQUES TO ACCELERATE THE STUDENTS LEARNING ABOVE THEIR GRADE LEVEL. CONTRIBUTIONS ARE USED TO FUND SCHOLARSHIPS FOR THE STUDENTS WHO OTHERWISE COULD NOT AFFORD THE COST OF TUITION.
AT THE CONCEPTION OF THE CAILA WE COMMITTED TO ADDING A GRADE LEVEL EACH YEAR. AS OF THE 2021-2022 SCHOOL YEAR, OUR GRADE LEVELS RANGED FROM PRE-KINDERGARTEN THROUGH SEVENTH GRADE. THIS SCHOOL YEAR, WE HAVE PROVIDED SCHOLARSHIPS TO OUR FORMER 5TH GRADE STUDENTS TO ATTEND SAINT THOMAS MORE AND SAINT JOHN VIANNEY REGIONAL SCHOOLS IN ALLENTOWN, PA FOR TWO CONSECUTIVE YEARS.
DURING THE 2021-2022 SCHOOL YEAR, THE CAILA IN PARTNERSHIP WITH LEHIGH VALLEY CHILDREN'S CENTERS INC. ADDED A PRE-KINDERGARTEN PROGRAM TO SUPPORT CAILA FACULTY AND FAMILIES WITH MULTIPLE CHILDREN WHO MAY ALREADY BE ENROLLED AS A STUDENT IN GRADES K-5. THESE PRE-K STUDENTS WILL HAVE THE POTENTIAL TO FILL SPOTS IN THE KINDERGARTEN CLASS IN THE FOLLOWING YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Suzie Spinosa Secretary | Officer | 0 | $0 |
Anthony Salvaggio President | Officer | 0 | $0 |
Andrew Mcintyre Former Trustee | 0 | $0 | |
Frank Scattene CPA Treasurer | Officer | 0 | $0 |
Destiny Salvaggio Former Trustee | 0 | $0 | |
Renee Stephens Former Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,161,930 |
| Investment income | $359,824 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$5,697,617 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$2,157,295 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $123,102 |
| 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 to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,100 |
| 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 | $23,573 |
| Information technology | $22,832 |
| Royalties | $0 |
| Occupancy | $147,968 |
| Travel | $7,089 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,991 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,824 |
| Insurance | $8,705 |
| All other expenses | $0 |
| Total functional expenses | $570,828 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,942,246 |
| 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 | $8,384 |
| Investments—publicly traded securities | $41,646,559 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $16,134 |
| Total assets | $43,625,583 |
| Accounts payable and accrued expenses | $8,586 |
| 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 | $8,586 |
| Net assets without donor restrictions | $43,616,997 |
| 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 |
| Total liabilities and net assets/fund balances | $43,616,997 |