Aurum Preparatory Academy Inc
- Assets
- $1.5m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 24
- Location
- Oakland, CA
- Founding
- 07/2016
- Data as of
- 06/2021
- EIN
- 81-1636171
Organization Overview
Aurum Preparatory Academy Inc is located in Oakland, CA. 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. As of 06/2021, Aurum Preparatory Academy Inc employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Aurum Preparatory 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 06/2021, Aurum Preparatory Academy Inc generated $3.0m in total revenue. All expenses for the organization totaled $2.4m during the year ending 06/2021. While expenses have increased by 102.2% 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
AURUM PREPARATORY ACADEMY IS A TUITION-FREE, PUBLIC SCHOOL SERVING STUDENTS IN 6TH-8TH GRADE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AURUM PREPARATORY ACADEMY OPERATES AS A CALIFORNIA PUBLIC CHARTER SCHOOL. AT AURUM PREPARATORY ACADEMY, ALL STUDENTS WILL BE PREPARED FOR ACADEMIC AND LIFE SUCCESS, AND ALL STUDENTS WILL RECEIVE THE EDUCATION NEEDED TO ENTER AND GRADUATE FROM COLLEGE. ONE OF THE MOST IMPORTANT DECISIONS A FAMILY MAKES FOR THEIR CHILDREN IS WHERE TO SEND THEM TO SCHOOL. WE PROMISE TO EDUCATE EVERY STUDENT FOR A COLLEGE DEGREE AND A LIFE OF ETHICAL LEADERSHIP FROM THE MOMENT THEY ENTER OUR DOORS. THE ACADEMY SERVED APPROXIMATELY 197 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Hardin Executive Director | Officer | 40 | $106,500 |
Parren James President | Trustee | 5 | $0 |
James Jordan Secretary And Treasurer | Trustee | 5 | $0 |
John Huddle Member | Trustee | 5 | $0 |
Abby Benedetto Member | Trustee | 5 | $0 |
Vijay Toke Vice President | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,634,962 |
| All other contributions, gifts, grants, and similar amounts not included above | $332,760 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,967,722 |
| 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 | $2,969,650 |
| 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. | $117,075 |
| Compensation of current officers, directors, key employees. | $40,976 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $936,472 |
| Pension plan accruals and contributions | $27,240 |
| Other employee benefits | $107,735 |
| Payroll taxes | $81,550 |
| Fees for services: Management | $8,550 |
| Fees for services: Legal | $17,883 |
| Fees for services: Accounting | $21,525 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $409,658 |
| Advertising and promotion | $69,534 |
| Office expenses | $15,754 |
| Information technology | $23,937 |
| Royalties | $0 |
| Occupancy | $266,707 |
| Travel | $55 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,304 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $17,072 |
| Insurance | $24,979 |
| All other expenses | $10,213 |
| Total functional expenses | $2,402,764 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $322,514 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $966,776 |
| 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 | $111,651 |
| Net Land, buildings, and equipment | $77,329 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,478,270 |
| Accounts payable and accrued expenses | $76,772 |
| Grants payable | $0 |
| Deferred revenue | $97,628 |
| 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 | $288,132 |
| Other liabilities | $0 |
| Total liabilities | $462,532 |
| Net assets without donor restrictions | $1,015,738 |
| 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 | $1,478,270 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Aurum Preparatory Academy Inc has recieved totaling $67,334.
| Awarding Organization | Amount |
|---|---|
Silicon Schools Fund Inc Oakland, CA PURPOSE: TO SUPPORT OPERATIONS OF THE SCHOOL | $25,000 |
Quest Foundation Danville, CA PURPOSE: TO PROVIDE FREE EDUCATION | $23,700 |
Quest Foundation Danville, CA PURPOSE: TO PROVIDE FREE EDUCATION | $12,600 |
T Gary And Kathleen Rogers Private Family Foundation Oakland, CA PURPOSE: GENERAL SUPPORT | $6,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $34 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Partnerships To Uplift Communities Los Angeles Burbank, CA | $14,420,401 | $24,912,837 |
Literacy First Charter Schools El Cajon, CA | $29,290,072 | $23,446,904 |
Voices College-Bound Language Academies San Jose, CA | $26,350,864 | $21,078,147 |
Santa Rosa Academy Incorporated Menifee, CA | $46,198,054 | $16,730,823 |
Siatech Inc Oceanside, CA | $9,582,548 | $15,818,647 |
Grow Public Schools Bakersfield, CA | $14,803,093 | $23,549,288 |
Natomas Charter School Sacramento, CA | $32,806,693 | $20,875,289 |
Arizona Community Development Corporation Tucson, AZ | $20,473,547 | $20,902,974 |
Vista Charter Public Schools Los Angeles, CA | $62,725,425 | $20,964,484 |
Roseland Charter School Santa Rosa, CA | $53,872,700 | $25,562,169 |
Ofl William S Hart Inc Pasadena, CA | $11,952,405 | $20,153,084 |
New Designs Charter School Los Angeles, CA | $56,545,069 | $20,507,111 |