Premier Academy Inc
- Assets
- $5.6m
- Revenue
- $4.5m
- Investments
- $0.0
- Employees
- 102
- Location
- Atlanta, GA
- Founding
- 07/1974
- Data as of
- 12/2023
- EIN
- 58-1169016
Organization Overview
Premier Academy Inc is located in Atlanta, GA. The organization was established in 1974. According to its NTEE Classification (B21) the organization is classified as: Preschools, under the broad grouping of Education and related organizations. As of 12/2023, Premier Academy Inc employed 102 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Premier 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 12/2023, Premier Academy Inc generated $4.5m 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 (4.5%) each year. All expenses for the organization totaled $4.3m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF PREMIER ACADEMY IS TO PROVIDE A QUALITY EDUCATION PROGRAM FOR PRESCHOOL AGE CHILDREN
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MISSION OF PREMIER ACADEMY IS O PROVIDE A QUALITY EDUCATION FOR PRESCHOOL AGE CHILDREN
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Starla L Bailey Executive Director | Officer | 40 | $114,575 |
Gwendolyn Wright | Trustee | 5 | $0 |
Letica Reeves | Trustee | 5 | $0 |
Lamonique Fairbanks | Trustee | 5 | $0 |
Dr Ralph Simpson | Trustee | 5 | $0 |
Sharon Russell | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,730,845 |
| All other contributions, gifts, grants, and similar amounts not included above | $442,168 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,173,013 |
| Total Program Service Revenue | $1,893,496 |
| Investment income | $272,734 |
| 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 | $4,468,988 |
| 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 | $2,403,538 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,769 |
| Payroll taxes | $0 |
| Fees for services: Management | $364,530 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $13,506 |
| Office expenses | $456,151 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $754,571 |
| Travel | $33,364 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,112 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,701 |
| Insurance | $75,504 |
| All other expenses | $125,619 |
| Total functional expenses | $4,286,534 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $713,502 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $58,149 |
| 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 | $0 |
| Net Land, buildings, and equipment | $96,045 |
| Investments—publicly traded securities | $2,059,014 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,690,550 |
| Total assets | $5,617,260 |
| Accounts payable and accrued expenses | $69,626 |
| 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 | $2,699,417 |
| Total liabilities | $2,769,043 |
| Net assets without donor restrictions | $2,616,067 |
| Net assets with donor restrictions | $232,150 |
| 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 | $5,617,260 |