Iq Academy California-Los Angeles
- Assets
- $8.1m
- Revenue
- $10.7m
- Investments
- $0.0
- Employees
- 62
- Location
- Simi Valley, CA
- Founding
- 11/2015
- Data as of
- 06/2021
- EIN
- 80-0460924
Organization Overview
Iq Academy California-Los Angeles is located in Simi Valley, CA. The organization was established in 2015. 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 06/2021, Iq Academy California-Los Angeles employed 62 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iq Academy California-Los Angeles 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 06/2021, Iq Academy California-Los Angeles generated $10.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.8% each year. All expenses for the organization totaled $10.7m during the year ending 06/2021. While expenses have increased by 9.8% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE TUITION-FREE VIRTUAL EDUCATION THROUGH TECHNOLOGY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IQ ACADEMY BLENDS INNOVATIVE NEW INSTRUCTIONAL TECHNOLOGY WITH A TRADITIONAL CURRICULUM FOR STUDENTS ALL ACROSS CALIFORNIA. IQ USES THE K12 CURRICULUM TO OFFER CALIFORNIA STUDENTS IN GRADES K-12 AN EXCEPTIONAL LEARNING EXPERIENCE. WITH INDIVIDUALIZED LEARNING APPROACHES, IQ AND K12 PROVIDE THE TOOLS KIDS NEED TO SUCCEED IN SCHOOL AND BEYOND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Julie Mendoza President | OfficerTrustee | 1 | $0 |
Ben Pace Treasurer/business Member | OfficerTrustee | 1 | $0 |
Dr Matilde Zamora Secretary/district Representative | OfficerTrustee | 1 | $0 |
Gail Pansacola Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $10,668,280 |
| 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 | $10,668,280 |
| Total Program Service Revenue | $0 |
| 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 | $10,668,280 |
| 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 | $0 |
| Other salaries and wages | $3,663,678 |
| Pension plan accruals and contributions | $493,325 |
| Other employee benefits | $388,083 |
| Payroll taxes | $302,253 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $65,609 |
| Fees for services: Accounting | $27,730 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $791,514 |
| Advertising and promotion | $0 |
| Office expenses | $76,077 |
| Information technology | $2,598,784 |
| Royalties | $0 |
| Occupancy | $26,235 |
| Travel | $549 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $33,091 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $28,905 |
| All other expenses | $0 |
| Total functional expenses | $10,668,280 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,886,577 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $5,027,914 |
| Accounts receivable, net | $0 |
| 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 | $214,237 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,090 |
| Total assets | $8,137,818 |
| Accounts payable and accrued expenses | $391,246 |
| Grants payable | $0 |
| Deferred revenue | $2,982 |
| 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 | $1,600,000 |
| Other liabilities | $6,143,590 |
| Total liabilities | $8,137,818 |
| Net assets without donor restrictions | $0 |
| 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 | $8,137,818 |
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