Third Future Schools
- Assets
- $30.3m
- Revenue
- $23.3m
- Investments
- $0.0
- Employees
- 246
- Location
- Aurora, CO
- Founding
- 11/2016
- Data as of
- 06/2022
- EIN
- 81-2937922
Organization Overview
Third Future Schools, operating under the name Academy of Advanced Learning, is located in Aurora, CO. 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 06/2022, Academy of Advanced Learning employed 246 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Academy of Advanced Learning 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, Academy of Advanced Learning generated $23.3m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 35.5% each year . All expenses for the organization totaled $22.8m during the year ending 06/2022. While expenses have increased by 17.1% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE CHARTER SCHOOL IS A MODEL FOR THE NEXT GENERATION OF SCHOOLS, WORKING TO PREPARE STUDENTS, ESPECIALLY POOR AND MINORITY STUDENTS FOR THE WORKPLACE AND COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
A K-8 CHARTER SCHOOL THAT IS A MODEL FOR THE NEXT GENERATION OF SCHOOLS, WORKING TO PREPARE STUDENTS, ESPECIALLY POOR AND MINORITY STUDENTS FOR THE WORKPLACE AND COLLEGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
F Mike Miles CEO | Officer | 40 | $260,000 |
Zach Craddock Ed Of School | 40 | $195,000 | |
Tara Berry Ed | 40 | $161,339 | |
Michele Moore Ed Of Innova | 40 | $160,000 | |
Rick Freehling School Princ | 40 | $131,364 | |
Angela Prochnow School Princ | 40 | $120,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lopez Landscaping Landscaping | 6/29/22 | $146,500 |
Gillem Speech Language Pathology Services Prof Services | 6/29/22 | $134,536 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $2,175,278 |
| Government grants | $4,133,964 |
| All other contributions, gifts, grants, and similar amounts not included above | $245,079 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,554,321 |
| Total Program Service Revenue | $16,585,158 |
| 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 | $23,287,705 |
| 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 | $9,808,934 |
| Pension plan accruals and contributions | $2,150,488 |
| Other employee benefits | $516,908 |
| Payroll taxes | $325,496 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,789 |
| Fees for services: Accounting | $52,306 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,225,402 |
| Advertising and promotion | $241,218 |
| Office expenses | $191,733 |
| Information technology | $24,298 |
| Royalties | $0 |
| Occupancy | $2,195,433 |
| Travel | $133,695 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $614,274 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,852,539 |
| Insurance | $176,553 |
| All other expenses | $756,622 |
| Total functional expenses | $22,831,173 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $725,312 |
| Savings and temporary cash investments | $50,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,811,599 |
| 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 | $0 |
| Net Land, buildings, and equipment | $17,745,998 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,007,608 |
| Total assets | $30,340,517 |
| Accounts payable and accrued expenses | $319,734 |
| 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 | $0 |
| Secured mortgages and notes payable | $1,625,085 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $37,346,676 |
| Total liabilities | $39,291,495 |
| 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 | -$8,950,978 |
| Total liabilities and net assets/fund balances | $30,340,517 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Third Future Schools has recieved totaling $427,535.
| Awarding Organization | Amount |
|---|---|
Charter Fund Inc Broomfield, CO PURPOSE: CHARTER SCHOOL GROWTH | $220,000 |
New Schools Fund Oakland, CA PURPOSE: INNOVATIVE SCHOOLS | $162,500 |
Charter Fund Inc Broomfield, CO PURPOSE: EMERGENCY RELIEF | $25,000 |
Arizona Foundation For Educational Advancement Phoenix, AZ PURPOSE: TO REVIEW AND REFINE THEIR ART OF THINKING CURRICULUM AND DEVELOP MID-YEAR AND END-OF-YEAR ASSESSMENTS FOR THIS COURSE | $20,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $35 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Utah Charter Academies Draper, UT | $87,193,817 | $47,458,045 |
Strive Preparatory Schools Denver, CO | $16,366,153 | $54,741,372 |
Kipp Colorado Schools Denver, CO | $14,636,055 | $38,026,869 |
Legacy Traditional Schools - Nevada Inc Chandler, AZ | $98,471,077 | $39,227,732 |
Goal Academy Pueblo, CO | $51,570,908 | $48,674,529 |
Spectrum Academy North Salt Lake City, UT | $38,407,104 | $29,729,025 |
Odyssey Preparatory Academy Inc Buckeye, AZ | $75,530,982 | $28,243,391 |
Dove Schools Oklahoma City, OK | $6,243,861 | $28,048,630 |
Rocky Mountain Preparatory School Denver, CO | $30,804,994 | $31,097,127 |
Arizona Connections Academy Charter School Gilbert, AZ | $11,036,365 | $27,443,157 |
Benjamin Franklin Charter School - Queen Creek Gilbert, AZ | $74,039,747 | $26,576,099 |
Daisy Education Corporation Gilbert, AZ | $46,295,236 | $27,502,043 |