Sage Academy Inc
- Assets
- $1.4m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 30
- Location
- Surprise, AZ
- Founding
- 11/2006
- Data as of
- 06/2023
- EIN
- 73-1716561
Organization Overview
Sage Academy Inc is located in Surprise, AZ. The organization was established in 2006. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2023, Sage Academy Inc employed 30 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sage 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, Sage Academy Inc generated $1.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.9% each year. All expenses for the organization totaled $1.8m during the year ending 06/2023. While expenses have increased by 6.6% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
OPERATION OF A CHARTER SCHOOL
Describe the Organization's Program Activity:
Part 3 - Line 4a
SAGE ACADEMY CHARTER SCHOOL IS A TUITION-FREE KINDERGARTEN THROUGH 8TH GRADE SCHOOL OF CHOICE CHARTERED BY THE STATE OF ARIZONA BOARD OF EDUCATION. OUR VISION IS TO POSITIVELY IMPACT STUDENTS, PARENTS, AND THE COMMUNITY BY APPLYING A TRADITIONAL APPROACH TO A SOLID AND SOUND EDUCATION SYSTEM FOR OUR CHILDREN. NOTHING IS MORE IMPORTANT THAN GIVING A CHILD THE BEST EDUCATION AVAILABLE. OUR MISSION AT SAGE ACADEMY IS TO CHALLENGE EACH STUDENT TO LEARN, GROW, AND EXCEL IN CHARACTER, KNOWLEDGE, WISDOM AND LIFE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lenny G Letcher President/secretary | OfficerTrustee | 5 | $0 |
John Pierce Board Member | Trustee | 1 | $0 |
Dale Letcher Board Member | Trustee | 1 | $0 |
Lenny Letcher II Board Chairman | Trustee | 1 | $0 |
Lynnette Letcher Admin Director | Officer | 60 | $56,285 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,349,682 |
| All other contributions, gifts, grants, and similar amounts not included above | $468,763 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,818,445 |
| Total Program Service Revenue | $0 |
| Investment income | $3 |
| 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 | $1,818,448 |
| 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. | $534,413 |
| Compensation of current officers, directors, key employees. | $74,732 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $155,727 |
| 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 | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $91,672 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $84,258 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,034 |
| Insurance | $16,708 |
| All other expenses | $0 |
| Total functional expenses | $1,829,655 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $115,662 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $262,958 |
| 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 | $3,375 |
| Net Land, buildings, and equipment | $67,822 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $735,669 |
| Other assets | $200,000 |
| Total assets | $1,385,486 |
| Accounts payable and accrued expenses | $59,522 |
| 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 | $756,298 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $98,000 |
| Other liabilities | $739,947 |
| Total liabilities | $1,653,767 |
| Net assets without donor restrictions | -$268,281 |
| 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 | $1,385,486 |