Beacon Academy Inc is located in Boston, MA. The organization was established in 2005. According to its NTEE Classification (B28) the organization is classified as: Special Education, under the broad grouping of Education and related organizations. As of 06/2023, Beacon Academy Inc employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Beacon 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 06/2023, Beacon Academy Inc generated $2.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $2.8m during the year ending 06/2023. While expenses have increased by 9.5% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
BEACON ACADEMY PROVIDES A TRANSFORMATIONAL YEAR BETWEEN 8TH AND 9TH GRADES TO PROMISING, MOTIVATED AND HARD-WORKING STUDENTS FROM BOSTON AND SURROUNDING URBAN AREAS. INSPIRED BY A CHALLENGING CURRICULUM AND STIMULATING CO-CURRICULAR EXPERIENCES, STUDENTS LEARN VITAL ACADEMIC SKILLS AND DEVELOP HABITS OF MIND THAT EMPOWER THEM TO CHANGE THE TRAJECOTRY OF THEIR LIVES. THEY EMERGE AS ACTIVE LEARNERS WITH INCREASED CONFIDENCE, CRITICAL THINKING SKILLS, AND BROADER VISION, PREPARED TO THRIVE AT COMPETITIVE, INDEPENDENT AND PUBLIC EXAM HIGH SCHOOLS THAT SHARE OUR COMMITMENT TO THEIR SUCCESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BEACON ACADEMY IDENTIFIES, CONFRONTS AND BRIDGES THE ACHIEVEMENT GAP BETWEEN BOSTON'S LOW-INCOME URBAN STUDENTS AND THEIR MORE AFFLUENT PEERS. OUR MISSION IS TO CHANGE THE TRAJECTORY OF OUR STUDENTS' LIVES THROUGH ACCESS TO EXCELLENT EDUCATIONAL OPPORTUNITIES. WE PROVIDE AN EXTRA 14 MONTHS OF FULL-TIME SCHOOL FOR PROMISING AND MOTIVATED URBAN STUDENTS WHO HAVE COMPLETED THE 8TH GRADE, BUT WHO ARE UNDERPREPARED FOR CHALLENGING INDEPENDENT HIGH SCHOOLS. BEACON HAS THREE ESSENTIAL COMPONENTS: OUR 14 MONTH SCHOOL, OUR ALUMNI PROGRAM AND OUR STRATEGIC OUTREACH TO SHARE BEST PRACTICES IN EDUCATING URBAN YOUTH. BEACON ACADEMY IS THE ONLY SCHOOL OF ITS KIND IN THE COUNTRY. OUR STUDENTS ARRIVE AT BEACON ACADEMY DRAMATICALLY UNDEREDUCATED AND UNDERPREPARED. MANY HAVE NEVER WRITTEN FORMAL ESSAYS AND ARE MISSING KEY MATH SKILLS AND OTHER BASIC KNOWLEDGE. THIS LACK OF QUALITY PREPARATION PERPETUATES THE CYCLE OF POVERTY THAT CHARACTERIZES TOO MUCH OF URBAN BOSTON AND SURROUNDING AREAS. NORTHEASTERN UNIVERSITY'S REPORT, "GETTING TO THE FINISH LINE" STATES THAT ONLY 7.5% OF STUDENTS OF COLOR FROM NON-EXAM PUBLIC SCHOOLS WILL COMPLETE A TWO OR FOUR YEAR DEGREE WITHIN SEVEN YEARS OF ENTERING COLLEGE. FURTHER, THE FEW WHO DO MOVE ON TO HIGHER EDUCATION ARE NOT ADEQUATELY PREPARED AND ARE OFTEN PLACED IN REMEDIAL COLLEGE CLASSES. IN CONTRAST: 100% OF THE BEACON STUDENTS FROM OUR CLASSES HAVE GRADUATED FROM HIGHSCHOOL. 90% OF OUR HIGH SCHOOL GRADUATES ENROLLED IN COLLEGE. 80% OF BEACON'S FOUNDING CLASS IS SLATED TO GRADUATE FROM FOUR-YEAR COLLEGES WITHIN SIX YEARS OF STARTING. COLLECTIVELY, OUR STUDENTS HAVE EARNED MILLIONS OF DOLLARS IN HIGH SCHOOL AND COLLEGE SCHOLARSHIPS. BEACON MITIGATES THE CRISIS IN EDUCATION AMONG ECONOMICALLY DISADVANTAGED YOUTHS THROUGH OUR INTENSE ACADEMIC PROGRAM AND OUR CONTINUED INVESTMENT IN OUR GRADUATES. DURING THE 2022-2023 SCHOOL YEAR, 22 STUDENTS ATTENDED BEACON ACADEMY.
THE SCHOOL- OVER BEACON ACADEMY'S INTENSIVE 14 MONTHS, 8+ HOUR SCHOOL DAYS INCLUDE INTENSE AND HIGH LEVEL ACADEMIC INSTRUCTION, CO-CURRICULAR PROGRAMMING, STUDY HALLS AND THEN 2-3 HOURS OF HOMEWORK. BEACON STARTS IN JULY WITH 5-WEEKS OF SUMMER SCHOOL, CONTINUES THROUGH THE ACADEMIC YEAR, AND A SECOND SUMMER OF INDIVIDUALLY TAILORED ACADEMIC AND ENRICHMENT PROGRAMS. EXPERIENCED TEACHERS, SMALL CLASSES AND AN ENGAGING, RIGOROUS CURRICULUM ENSURE THAT STUDENTS GAIN AT LEAST TWO YEARS OF LEARNING IN ONE YEAR TO PREPARE THEM FOR SUCCESS IN THECOMPETITIVE SECONDARY SCHOOLS. IN ADDITION TO INTENSIVE MATH, ENGLISH AND HISTORY COURSES, STUDENTS TAKE RESEARCH AND ADVOCACY AND MINI COURSES IN SCIENCE AND LATIN. BEACON STUDENTS ALSO PARTICIPATE IN COMMUNITY SERVICE LEARNING, NUTRITION AND SPORTS EDUCATION AND ACTIVITIES DESIGNED TO INCREASE THEIR CULTURAL FLUENCY.
ALUMNI PROGRAM - THE ALUMNI PROGRAM FACILITATES IMPORTANT AND CONTINUOUS CONNECTIONS BETWEEN BEACON ALUMNI AND OUR STAFF, VOLUNTEERS, COACHES AND MENTORS. THIS ONGOING ENGAGEMENT, SUPPORT AND GUIDANCE ENSURE OUR ALUMNI'S SUCCESSS THROUGH HIGH SCHOOL, COLLEGE AND BEYOND. WE KNOW THAT OUR STUDENTS, MUCH LIKE THEIR PEERS FROM THE SAME ZIP CODES, FACE ONGOING OBSTACLES INCLUDING A LACK OF RIGORUS ACADEMIC PREPARATION, CAMPUS ISOLATION AND THE NEED FOR FINANCIAL AID. BEACON ADDRESSES THESE ISSUES IN THE FOLLOWING WAYS: FIVE ANNUAL COMMUNITY ALUMNI EVENTS, COLLEGE PREPARATION AND APPLICATION SUPPORT, EMERGENCY FUNDS, DEEP AND ONGOING RELATIONSHIPS. DESPITE THE BEST INTENTIONS OF THE FINE INSTITUTIONS THAT ACCEPT AND FUND OUR STUDENTS, BEACON GRADUATES ENCOUNTER RACISM, ISOLATION AND OTHER OBSTACLES TO THEIR SUCCESS IN HIGH SCHOOL AND COLLEGE. THE BEACON ACADEMY ALUMNI PROGRAM GUARANTEES SUPPORT, GUIDANCE AND A COMMUNITY OF ACHIEVEMENT THROUGH HIGH SCHOOL, COLLEGE AND BEYOND.ALUMNI PROGRAM COMPONENTS: SCHEDULED ALUMNI EVENTS: WE HOST MANY ANNUAL EVENTS SUCH AS HIGH SCHOOL AND COLLEGE SEMINARS, A HOMECOMING DANCE, A HOLIDAY PARTY, COLLEGE VISITS AND ADVISING, AND A GRADUATION LUNCHEON, WHICH JSA CREATES AN ONGOING ALUMNI COMMUNITY. COLLEGE SUPPORT: WE HAVE ACTIVELY DEVELOPED OUR COLLEGE SUPPORT COMPONENT OF OUR ALUMNI PROGRAM. COMPONENTS INCLUDE: OUR OWN GUIDE BOOK DESIGNED TO HELP STUDENTS WHO ARE NOT FAMILIAR WITH THE COLLEGE APPLICATION PROCESS, SAT PREP, ESSAY WRITING WORKSHOPS, INTERVIEW PREPARATION, ADVISING, COLLEGE VISITS AND ACCESS TO GAP FUNDING. EMERGENCY FUND: STUDENTS MAY APPLY TO BEACON FOR ANCILLARY ITEMS NOT COVERED BY TUITION TO HELP THEM BE FULL PARTICIPANTS IN HIGH SCHOOL AND COLLEGE SUCH AS EYEGLASSES, TEXTBOOKS, FIELD TRIP EXPENSES AND ATHLETIC EQUIPMENT.ONGOING RELATIONSHIPS: OUR SMALL SIZE AND INTENSE RELATIONSHIPS ENDURE. STUDENTS ARTICULATE THAT THEY TURN TO BEACON FRIENDS FIRST WHEN STRUGGLING WITH ISSUES OF FINANCIAL AID, DOMESTIC ABUSE OR THE COLLEGE APPLICATION PROCESS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Ellie Loughlin Chair | OfficerTrustee | 2 | $0 |
Jessica Lutzker Vice Chair | OfficerTrustee | 2 | $0 |
Julie Mckenna Treasurer | OfficerTrustee | 2 | $0 |
Dayna Atkins Clerk | Trustee | 2 | $0 |
Amelia Mccarthy Chair | OfficerTrustee | 2 | $0 |
Carolyn Mcclintock Peter Chair | OfficerTrustee | 2 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $724,423 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $1,486,995 |
Noncash contributions included in lines 1a–1f | $54,504 |
Total Revenue from Contributions, Gifts, Grants & Similar | $2,211,418 |
Total Program Service Revenue | $1,125 |
Investment income | $221,056 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$4,522 |
Net Income from Fundraising Events | -$63,272 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $2,404,954 |
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. | $344,919 |
Compensation of current officers, directors, key employees. | $106,348 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $988,720 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $237,579 |
Payroll taxes | $112,031 |
Fees for services: Management | $0 |
Fees for services: Legal | $990 |
Fees for services: Accounting | $72,475 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $43,180 |
Fees for services: Other | $68,049 |
Advertising and promotion | $1,090 |
Office expenses | $54,036 |
Information technology | $17,901 |
Royalties | $0 |
Occupancy | $141,989 |
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 | $177,719 |
Insurance | $16,862 |
All other expenses | $16,294 |
Total functional expenses | $2,846,121 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $304,691 |
Savings and temporary cash investments | $1,453,270 |
Pledges and grants receivable | $876,830 |
Accounts receivable, net | $5,265 |
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 | $21,835 |
Net Land, buildings, and equipment | $4,750,375 |
Investments—publicly traded securities | $9,025,895 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $16,438,161 |
Accounts payable and accrued expenses | $227,761 |
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 | $0 |
Total liabilities | $227,761 |
Net assets without donor restrictions | $15,173,730 |
Net assets with donor restrictions | $1,036,670 |
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 | $16,438,161 |