Rise Prep Mayoral Academy
- Assets
- $9.7m
- Revenue
- $7.6m
- Investments
- $0.0
- Employees
- 25
- Location
- Woonsocket, RI
- Founding
- 10/2015
- Data as of
- 06/2021
- EIN
- 47-2487094
Organization Overview
Rise Prep Mayoral Academy is located in Woonsocket, RI. 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, Rise Prep Mayoral Academy employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rise Prep Mayoral 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 06/2021, Rise Prep Mayoral Academy generated $7.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 39.7% each year . All expenses for the organization totaled $4.7m during the year ending 06/2021. While expenses have increased by 27.1% 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
TO PROVIDE A CHARTER PUBLIC SCHOOL AS A MAYORAL ACADEMY SERVING BURRIVILLE, NORTH SMITHFIELD, AND WOONSOCKET, RHODE ISLAND
Describe the Organization's Program Activity:
Part 3 - Line 4a
RISE PREP IS A TUITION-FREE, PUBLIC MAYORAL ACADEMY, OPEN TO STUDENTS IN WOONSOCKET, NORTH SMITHFIELD, AND BURRIVILLE. RISE PREP OPENED IN AUGUST 2015 WITH 48 KINDERGARTEN STUDENTS, AND WILL GROW ONE GRADE EACH YEAR UNTIL REACHING A FULL K-8 SCHOOL MODEL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rosalind Dacruz Head Of School | Officer | 60 | $109,768 |
Kat Waller Director Of Finance & Hr | Officer | 40 | $86,765 |
Donna Stone Director | Trustee | 2 | $0 |
Raymond Leveille Treasurer | OfficerTrustee | 2 | $0 |
Lisa A Baldelli-Hunt Board Chair/president | OfficerTrustee | 2 | $0 |
Paulette D Hamilton Director | Trustee | 2 | $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 | $372,263 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $372,263 |
| Total Program Service Revenue | $7,192,355 |
| Investment income | $580 |
| 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 | $7,579,873 |
| 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. | $196,533 |
| Compensation of current officers, directors, key employees. | $86,765 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,242,069 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $486,393 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $426,591 |
| 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 | $27,517 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $116,323 |
| Travel | $4,750 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $482,708 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $270,105 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $4,735,796 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $714,625 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $76,561 |
| 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 | $43,050 |
| Net Land, buildings, and equipment | $8,870,960 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $839 |
| Total assets | $9,706,035 |
| Accounts payable and accrued expenses | $299,614 |
| 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 | $4,363,851 |
| Unsecured mortgages and notes payable | $1,076,120 |
| Other liabilities | $0 |
| Total liabilities | $5,739,585 |
| Net assets without donor restrictions | $3,966,450 |
| 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 | $9,706,035 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Rise Prep Mayoral Academy has recieved totaling $226.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $226 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Goodwin College Magnet Schools Inc East Hartford, CT | $5,402,152 | $17,501,870 |
Achievement First Hartford Academy Inc New Haven, CT | $6,951,433 | $17,053,937 |
Paul Cuffee School Providence, RI | $13,974,820 | $16,770,174 |
Achievement First Bridgeport Academy Inc New Haven, CT | $13,758,067 | $16,509,487 |
Capital Prep Charter Schools Ny Bridgeport, CT | $5,743,327 | $15,721,123 |
Elm City College Preparatory Inc New Haven, CT | $33,084,628 | $13,299,319 |
The Highlander Charter School Providence, RI | $14,624,382 | $14,745,189 |
Capital Prep Harbor School Inc Bridgeport, CT | $4,120,211 | $11,615,050 |
Great Oaks Charter School - Bridgeport Inc Bridgeport, CT | $4,760,394 | $9,171,396 |
Highville Charter School Inc New Haven, CT | $16,114,071 | $7,986,663 |
New Beginnings Family Academy Inc Bridgeport, CT | $6,914,685 | $8,124,878 |
International Charter School Corporation Pawtucket, RI | $4,227,421 | $6,703,285 |