Upward Hope Academy Inc
- Assets
- $393.6k
- Revenue
- $187.3k
- Investments
- $0.0
- Employees
- 6
- Location
- Galveston, TX
- Founding
- 07/2016
- Data as of
- 12/2022
- EIN
- 46-5596710
Organization Overview
Upward Hope Academy Inc is located in Galveston, TX. The organization was established in 2016. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 12/2022, Upward Hope Academy Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Upward Hope Academy 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 12/2022, Upward Hope Academy Inc generated $187.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (15.3%) each year. All expenses for the organization totaled $417.3k during the year ending 12/2022. 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
TO AID HIGH SCHOOL STUDENTS IN ESCAPING THE BONDS OF POVERTY AND HOPELESSNESS BY PROVIDING THEM WITH AN EDUCATION THAT WILL ENABLE THEM TO BECOME PRODUCTIVE CITIZENS. WE ARE AN ACCREDITED, TUITION FREE, PRIVATE HIGH SCHOOL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE INITIATED A PROGRAM FOR PERMANENT FUNDING AND EXPANDED LIFE SKILLS PROGRAMS. THIS YEAR WE ADDED THREE NEW FUNDRAISING PROGRAMS TO OUR AGENDA: AN ADMINISTRATIVE QUEST FOR PERMANENT SUSTAINING FUNDS, OFFERING ENDOWED SCHOLARSHIP CHAIRS TO INDIVIDUAL, CORPORATE AND FOUNDATION DONORS, AND COMPILING A LIST OF TRADITIONAL MAJOR DONORS FROM WHOM WE WILL SEEK TRADITIONAL ENDOWMENT GIFTS.ON THE ACADEMIC AND STUDENT DEVELOPMENT SIDE OF OUR MISSION, WE ARE ADDING/EXPANDING OUR PROGRAM IN "LIFE SKILLS", A PROGRAM WHICH BASICALLY TEACHES ALL THE CONCEPTS MOST OF US LEARNED AT HOME OR IN ELEMENTARY AND HIGH SCHOOL. MOST OF OUR STUDENTS HAVE NEVER HELD A JOB, AND AS A RESULT WE ARE WORKING CLOSELY WITH GALVESTON COLLEGE . WE HAVE BEGUN FIVE DIFFERENT "LIFE SKILLS" PROGRAMS ALONG WITH A SUCCESSFUL AGRICULTURAL/FARMING PROGRAM.PART OF OUR OBJECTIVE FOR THE CULINARY ARTS WILL BE TO HAVE OUR INTRODUCTORY PROGRAM IN PLACE WITHIN THE NEXT YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Frederickson Headmaster | Officer | 5 | $0 |
Bruce Guillot Director | Officer | 1 | $0 |
Rusty Carnes Director | Officer | 1 | $0 |
Vivian Hernandez Director | Officer | 1 | $0 |
Robert Mclaughlan Director | Officer | 1 | $0 |
Jan Broussard Director | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $107,368 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $107,368 |
| 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 | $77,787 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $187,346 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $500 |
| 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 | $188,719 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $18,165 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,677 |
| Fees for services: Accounting | $2,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $55,771 |
| Advertising and promotion | $0 |
| Office expenses | $2,261 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $20,438 |
| 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 | $20,101 |
| Insurance | $1,002 |
| All other expenses | $15,546 |
| Total functional expenses | $417,345 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $47,995 |
| Savings and temporary cash investments | $306 |
| 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 | $18,994 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,871 |
| Net Land, buildings, and equipment | $322,336 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,120 |
| Total assets | $393,622 |
| Accounts payable and accrued expenses | $0 |
| 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 | $57,237 |
| Total liabilities | $57,237 |
| Net assets without donor restrictions | $336,385 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $393,622 |