Riverside Academy Inc
- Assets
- $2.3m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 103
- Location
- Reserve, LA
- Founding
- 05/2000
- Data as of
- 05/2021
- EIN
- 72-0691644
Organization Overview
Riverside Academy Inc is located in Reserve, LA. The organization was established in 2000. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 05/2023, Riverside Academy Inc employed 103 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Riverside 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 05/2021, Riverside Academy Inc generated $3.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (6.1%) each year. All expenses for the organization totaled $3.7m during the year ending 05/2021. As we would expect to see with falling revenues, expenses have declined by (3.3%) per year over the past 6 years. 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
EDUCATIONAL INSTITUTION INSTRUCTING STUDENTS FROM PRESCHOOL THROUGH TWELFTH GRADE
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL SERVICES FOR PRESCHOOL THROUGH TWELFTH GRADE ARE PROVIDED FOR APPROXIMATELY 545 STUDENTS. EXTRACURRICULAR ACTIVITIES SUCH AS MUSIC, FINE ARTS, AND SPORTS ARE ALSO AVAILABLE TO STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Holly Haase Principal | OfficerTrustee | 50 | $80,000 |
Dexter Falgoust President | OfficerTrustee | 8 | $0 |
Joseph Guidry Vice President | OfficerTrustee | 6 | $0 |
Lori Zeringue Treasurer | OfficerTrustee | 6 | $0 |
Christina Gordon Frank Secretary | OfficerTrustee | 6 | $0 |
Steven Millet Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $840,370 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$5,190 |
| Net Income from Fundraising Events | -$14,549 |
| Net Income from Gaming Activities | $20,740 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,291,645 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $97,660 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $80,000 |
| Compensation to disqualified persons | $1,813,938 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $8,375 |
| Other employee benefits | $74,796 |
| Payroll taxes | $144,204 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,715 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $13,183 |
| Office expenses | $2,320 |
| Information technology | $78,888 |
| Royalties | $0 |
| Occupancy | $204,529 |
| Travel | $2,362 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $19,482 |
| Interest | $104,246 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $124,620 |
| Insurance | $108,553 |
| All other expenses | $0 |
| Total functional expenses | $3,711,758 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $23,393 |
| Savings and temporary cash investments | $384,834 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $183,978 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $31,099 |
| Prepaid expenses and deferred charges | $8,919 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $28,699 |
| Other assets | $325 |
| Total assets | $2,318,195 |
| Accounts payable and accrued expenses | $579,939 |
| Grants payable | $0 |
| Deferred revenue | $436,148 |
| 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 | $1,906,484 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,922,571 |
| Net assets without donor restrictions | -$604,376 |
| 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 | -$604,376 |