Odyssey 2020 Academy Inc
- Assets
- $24.8m
- Revenue
- $21.0m
- Investments
- $0.0
- Employees
- 303
- Location
- Galveston, TX
- Founding
- 01/1999
- Data as of
- 06/2022
- EIN
- 76-0577257
Organization Overview
Odyssey 2020 Academy Inc is located in Galveston, TX. The organization was established in 1999. 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 06/2022, Odyssey 2020 Academy Inc employed 303 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Odyssey 2020 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, Odyssey 2020 Academy Inc generated $21.0m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 11.8% each year . All expenses for the organization totaled $19.8m during the year ending 06/2022. While expenses have increased by 11.5% per year over the past 3 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
ODYSSEY ACADEMY IS A PUBLIC CHARTER SCHOOL, COMMISSIONED BY THE TEXAS EDUCATION AGENCY. WE EDUCATE CHILDREN IN GALVESTON AND HARRIS COUNTIES, AGED 3 YEARS OLD THROUGH HIGH SCHOOL, WITH AN INTENTIONAL FOCUS ON MATH, SCIENCE AND TECHNOLOGY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTION AND INSTRUCTIONAL-RELATED SERVICES - THESE EXPENSES ARE FOR COSTS THAT DEAL DIRECTLY WITH INSTRUCTION PROVIDED TO STUDENTS IN A SCHOOL CLASSROOM OR IN ANOTHER LOCATION.
INSTRUCTIONAL AND SCHOOL LEADERSHIP - THESE ARE EXPENSES RELATED TO MANAGING, DIRECTING, SUPERVISING, AND LEADING STAFF MEMBERS WHO PROVIDE INSTRUCTION OR INSTRUCTION-RELATED SERVICES. THESE EXPENSES ARE ALSO FOR COSTS RELATED TO THE GENERAL MANAGEMENT AND LEADERSHIP OF A SCHOOL CAMPUS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
George W S Abbey Board President | OfficerTrustee | 1 | $0 |
Robert Simpson Board Member | Trustee | 1 | $0 |
Lauren Suderman Millo Board Member | Trustee | 1 | $0 |
Neal G Matlock Vice President | OfficerTrustee | 1 | $0 |
Doug Matthews Secretary | OfficerTrustee | 1 | $0 |
Dr Cissy Matthews Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jmk5 Mall Of The Mainland Llc Building Lease | 6/29/22 | $687,468 |
Heb Grocery Co Lp Building Lease | 6/29/22 | $200,525 |
Wells Technology Technology Supplies And Services | 6/29/22 | $468,620 |
Glazier Foods Company Child Nutrition Food Expense | 6/29/22 | $188,454 |
Family Service Center Mental Health Services | 6/29/22 | $154,323 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $19,865,147 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $19,865,147 |
| Total Program Service Revenue | $1,102,660 |
| Investment income | $0 |
| 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 | $20,967,807 |
| 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. | $285,959 |
| Compensation of current officers, directors, key employees. | $285,959 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,807,161 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,279,052 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| 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 | $103,395 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,049,632 |
| Travel | $111,529 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,081,826 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $885,880 |
| Insurance | $291,022 |
| All other expenses | $662,333 |
| Total functional expenses | $19,751,508 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,968,487 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,883,919 |
| Accounts receivable, net | $30,328 |
| 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 | $5,545 |
| Net Land, buildings, and equipment | $16,479,284 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,425,572 |
| Total assets | $24,793,135 |
| Accounts payable and accrued expenses | $1,275,009 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $11,390,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $6,403,073 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $206,549 |
| Total liabilities | $19,274,631 |
| Net assets without donor restrictions | $5,355,079 |
| Net assets with donor restrictions | $163,425 |
| 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 | $24,793,135 |