Smart Academy
- Assets
- $1.2m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 35
- Location
- Garfield Hts, OH
- Founding
- 12/2018
- Data as of
- 06/2023
- EIN
- 81-5056142
Organization Overview
Smart Academy is located in Garfield Hts, OH. The organization was established in 2018. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2023, Smart Academy employed 35 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Smart Academy 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 06/2023, Smart Academy generated $1.8m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 44.1% each year . All expenses for the organization totaled $2.0m during the year ending 06/2023. While expenses have increased by 27.4% per year over the past 4 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SMART ACADEMY'S MISSION IS TO PROVIDE ALL STUDENTS IN GRADES K-4 OF THE CLEVELAND COMMUNITY A STRONG LITERACY-BASED EDUCATIONAL PROGRAM THAT CREATES A COMMUNITY IN WHICH READING, WRITING, SPEAKING, LISTENING, AND THINKING SERVE AS A FOUNDATION FOR LIFE-LONG LEARNING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE EDUCATIONAL SERVICES TO 100 STUDENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Robert Aitken CEO | Officer | 40 | $85,000 |
Joe Nicklos President | OfficerTrustee | 0.5 | $0 |
Josh Lane Vice President | OfficerTrustee | 0.5 | $0 |
Stephen Furlow-Munn Director | Trustee | 0.5 | $0 |
Russell Cooper Director | Trustee | 0.5 | $0 |
Joseph Crawfis Treasurer | Officer | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,773,039 |
| 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 | $1,773,039 |
| Total Program Service Revenue | $0 |
| Investment income | $5 |
| 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 | $1,773,044 |
| 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. | $85,000 |
| Compensation of current officers, directors, key employees. | $85,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $662,926 |
| Pension plan accruals and contributions | $380,004 |
| Other employee benefits | $167,310 |
| Payroll taxes | $0 |
| Fees for services: Management | $403,980 |
| 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 | $0 |
| Advertising and promotion | $17,225 |
| Office expenses | $134,989 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $51,740 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,916 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $75,431 |
| Insurance | $13,210 |
| All other expenses | $0 |
| Total functional expenses | $1,997,731 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $55,067 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $22,520 |
| Accounts receivable, net | $6,431 |
| 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 | $7,197 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,101,483 |
| Total assets | $1,192,698 |
| Accounts payable and accrued expenses | $109,696 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $21,563 |
| Other liabilities | $1,741,040 |
| Total liabilities | $1,872,299 |
| Net assets without donor restrictions | -$679,601 |
| 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 | $1,192,698 |