Goodwin College Magnet Schools Inc
- Assets
- $5.4m
- Revenue
- $17.5m
- Investments
- $0.0
- Employees
- 0
- Location
- East Hartford, CT
- Founding
- 02/2016
- Data as of
- 06/2021
- EIN
- 81-0703802
Organization Overview
Goodwin College Magnet Schools Inc is located in East Hartford, CT. The organization was established in 2016. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Goodwin College Magnet Schools 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 06/2021, Goodwin College Magnet Schools Inc generated $17.5m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $16.1m during the year ending 06/2021. While expenses have increased by 4.0% per year over the past 5 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
GOODWIN UNIVERSITY MAGNET SCHOOLS, INC. OPERATES AND MANAGES EDUCATIONAL SERVICES TO MAGNET SCHOOLS SERVING PUBLIC SCHOOL STUDENTS IN THE COMMUNITIES SURROUNDING EAST HARTFORD, CT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE GOODWIN UNIVERSITY MAGNET SCHOOLS, LOCATED IN EAST HARTFORD AND SURROUNDING COMMUNITIES, SERVES STUDENTS IN GRADES PRE-K THROUGH 6 AND 9 THROUGH 12. THE SCHOOLS COLLECTIVELY OFFER EXCITING CURRICULUM THAT DEVELOPS COGNITIVE, SOCIAL, LANGUAGE, PHYSICAL AND CREATIVE SKILL SETS TO A DIVERSE STUDENT BODY. THE SCHOOLS OFFER ACCESS TO NATURE AND PREPARE STUDENTS FOR THE PURSUIT OF KNOWLEDGE IN MANY AREAS OF INTEREST, INCLUDING ENVIRONMENTAL AND OTHER SCIENCES WHILE BREAKING DOWN BARRIERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Scheinberg President And CEO | OfficerTrustee | 1.9 | $0 |
Todd Andrews Secretary | OfficerTrustee | 5 | $0 |
Jackie Jacoby Chair | OfficerTrustee | 0.75 | $0 |
Edwin Meyer Jr Treasurer | OfficerTrustee | 6 | $0 |
Megan Mehr Vice Chair | OfficerTrustee | 0.2 | $0 |
Merilee Dejohn Trustee | Trustee | 0.25 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Learn Regional Education Service | 6/29/21 | $10,254,221 |
Integrated Health Services Inc On-site Health Professionals | 6/29/21 | $607,430 |
Kelly Services Inc Teaching Services | 6/29/21 | $145,034 |
Novus Insight It Infrastructure & Svcs | 6/29/21 | $123,690 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $10,779,172 |
| Government grants | $936,377 |
| 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 | $11,715,549 |
| Total Program Service Revenue | $5,781,065 |
| 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 | $17,501,870 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $593,470 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $38,852 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,186,378 |
| Advertising and promotion | $197,144 |
| Office expenses | $371,548 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $405,279 |
| Travel | $2,612 |
| 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 | $19,079 |
| Insurance | $127,637 |
| All other expenses | $446,481 |
| Total functional expenses | $16,097,193 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,191,134 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $32,786 |
| 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 | $83,285 |
| Net Land, buildings, and equipment | $94,947 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,402,152 |
| Accounts payable and accrued expenses | $1,836,830 |
| Grants payable | $0 |
| Deferred revenue | $73,968 |
| 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 | $230,123 |
| Total liabilities | $2,140,921 |
| Net assets without donor restrictions | $3,258,742 |
| Net assets with donor restrictions | $2,489 |
| 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 | $5,402,152 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Public Prep Charter School Academies Bronx, NY | $28,993,375 | $52,903,915 |
Achievement First Inc New Haven, CT | $52,811,061 | $64,422,955 |
Explore Excel Charter School Brooklyn, NY | $21,686,253 | $46,865,700 |
Rhode Island Mayoral Academy Cumberland, RI | $44,692,718 | $42,226,919 |
Brooklyn Prospect Charter School Brooklyn, NY | $14,747,543 | $42,286,541 |
Little Red School House Inc New York, NY | $50,588,811 | $36,915,940 |
True North Rochester Preparatorycharter School Rochester, NY | $31,478,453 | $41,687,630 |
Classical Charter Schools Bronx, NY | $15,984,342 | $34,614,781 |
Bronx Charter School For Excellence Bronx, NY | $63,378,035 | $40,736,120 |
Science Academies Of New York Charter Schools Syracuse, NY | $37,462,091 | $36,615,185 |
Neighborhood Charter School Of Harlem New York, NY | $14,146,226 | $29,485,952 |
Family Life Academy Charter School Bronx, NY | $22,096,110 | $34,718,608 |