Freedom Academy Inc
- Assets
- $8.9m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 60
- Location
- Phoenix, AZ
- Founding
- 10/2007
- Data as of
- 06/2022
- EIN
- 51-0584248
Organization Overview
Freedom Academy Inc is located in Phoenix, AZ. The organization was established in 2007. 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, Freedom Academy Inc employed 60 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Freedom 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 06/2022, Freedom Academy Inc generated $3.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $3.5m during the year ending 06/2022. While expenses have increased by 0.3% per year over the past 7 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
TO PROVIDE EACH STUDENT AN EQUAL EDUCATION THAT WILL EQUIP THEM FOR THE FUTURE BY TEACHING CHARACTER WITH INTEGRITY, HONOR AND LEADERSHIP, THE DESIRE TO BECOME LIFELONG LEARNERS, AND BECOME POSITIVE CONTRIBUTORS AND PARTICIPANTS WITHIN THEIR FAMILIES AND THEIR COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AT FREEDOM ACADEMY, WE PRIDE OURSELVES ON THE RICH EDUCATION WE PROVIDE FOR STUDENTS AS WELL AS THE GENUINE, HEART-FELT CARE WE OFFER EACH CHILD. WE LOOK FORWARD TO MEETING EACH AND EVERY ONE OF YOU. OUR SCHOOL OFFERS TRADITIONAL K-8 EDUCATION, ENRICHED WITH CHARACTER BUILDING, AND TEAMED WITH TECHNOLOGY, ART, AND P.E. AFTER-SCHOOL CLUBS AND SPORTS PROGRAMS ARE OFFERED. THIS YEAR, WE HAD BASKETBALL, FLAG FOOTBALL, SOCCER, AND CHEER IN ADDITION TO VARIOUS AFTER SCHOOL OPPORTUNITIES. FOR OUR MIDDLE SCHOOL STUDENTS, WE HOST A NJHS LEADERSHIP PROGRAM. THIS PROGRAM ALLOWS MIDDLE SCHOOL STUDENTS THE OPPORTUNITY TO GROW AND DEVELOP THEIR LEADERSHIP SKILLS, STARTING WITH SCHOOL INVOLVEMENT. THE LEADERSHIP STUDENTS SERVE AS ROLE MODELS IN THEIR SCHOOL COMMUNITY AND ARE OFTEN ACTIVELY PARTICIPATING IN EVENTS AT SCHOOL. YOUNGER STUDENTS ARE ENCOURAGED BY THE EXAMPLE LEADERSHIP STUDENTS SET AND CAN'T WAIT TO GET INVOLVED THEMSELVES WHEN THEY ENTER MIDDLE SCHOOL WE ALSO OFFER AN AFTER-SCHOOL HOMEWORK CLUB FOR ALL GRADE LEVELS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Keven Barker School Direc | Officer | 25 | $50,400 |
Teri Azlin Member | Trustee | 1 | $0 |
Christy Narsi President | OfficerTrustee | 3 | $0 |
Atwood Standley Vice Preside | OfficerTrustee | 0.5 | $0 |
Mark Vite Secretary | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $310,626 |
| All other contributions, gifts, grants, and similar amounts not included above | $14,898 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $325,524 |
| Total Program Service Revenue | $3,270,146 |
| Investment income | $2,365 |
| 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 | $3,623,676 |
| 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. | $50,400 |
| Compensation of current officers, directors, key employees. | $11,160 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,968,549 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,470 |
| Fees for services: Accounting | $61,673 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $132,823 |
| Advertising and promotion | $9,197 |
| Office expenses | $318,867 |
| Information technology | $14,356 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,860 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $361,452 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $178,916 |
| Insurance | $25,059 |
| All other expenses | $44,441 |
| Total functional expenses | $3,462,807 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,183,594 |
| Savings and temporary cash investments | $1,958,854 |
| Pledges and grants receivable | $246,662 |
| Accounts receivable, net | $5,000 |
| 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 | $44,192 |
| Net Land, buildings, and equipment | $4,428,613 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,866,915 |
| Accounts payable and accrued expenses | $244,789 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $5,457,625 |
| 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 | $153,213 |
| Total liabilities | $5,855,627 |
| Net assets without donor restrictions | $2,949,615 |
| Net assets with donor restrictions | $61,673 |
| 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 | $8,866,915 |