Gateway Stem Academy
- Assets
- $1.8m
- Revenue
- $3.8m
- Investments
- $0.0
- Employees
- 68
- Location
- Burnsville, MN
- Founding
- 02/2019
- Data as of
- 06/2023
- EIN
- 82-2364892
Organization Overview
Gateway Stem Academy is located in Burnsville, MN. The organization was established in 2019. 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, Gateway Stem Academy employed 68 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gateway Stem 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, Gateway Stem Academy generated $3.8m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 10.3% each year . All expenses for the organization totaled $4.5m during the year ending 06/2023. While expenses have increased by 12.9% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING A STEM EDUCATION FOR UNDERSERVED POPULATIONS IN GRADES K-6 IN THE BURNSVILLE AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GATEWAY STEM ACADEMY SERVED APPROXIMATELY 180 STUDENTS DURING THE SCHOOL YEAR ACCENTUATING THEIR FOCUS ON STEM FOCUSED INSTRUCTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ed Fellows Executive Director | Officer | 40 | $101,769 |
Patrick Soberg Former Teacher Director | Trustee | 40 | $76,265 |
Ally Jansons Director/teacher | Trustee | 40 | $45,145 |
Abdiaziz Farah Former Executive Director | Officer | 40 | $18,095 |
Brandon Haley Director | Trustee | 40 | $14,121 |
Abdirahman Mukhtar Board Chair | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Minnehaha Transportation Transportation | 6/29/23 | $915,855 |
Altiqan Center Building Lease | 6/29/23 | $313,905 |
Mcgraw Hill Curriculum | 6/29/23 | $279,296 |
Kilmanjaro Corporation Food Service | 6/29/23 | $251,107 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,734,797 |
| All other contributions, gifts, grants, and similar amounts not included above | $74,627 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,809,424 |
| Total Program Service Revenue | $251 |
| Investment income | $3,409 |
| 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 | $3,823,456 |
| 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. | $279,555 |
| Compensation of current officers, directors, key employees. | $33,655 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,475,171 |
| Pension plan accruals and contributions | $677,639 |
| Other employee benefits | $108,358 |
| Payroll taxes | $133,725 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $27,256 |
| Fees for services: Accounting | $51,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $953,179 |
| Advertising and promotion | $0 |
| Office expenses | $166 |
| Information technology | $55,677 |
| Royalties | $0 |
| Occupancy | $29,914 |
| Travel | $637 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,500 |
| Interest | $540 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $325,793 |
| Insurance | $14,373 |
| All other expenses | $0 |
| Total functional expenses | $4,547,449 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $701,921 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $125,417 |
| 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 | $48,164 |
| Net Land, buildings, and equipment | $46,360 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $848,068 |
| Total assets | $1,769,930 |
| Accounts payable and accrued expenses | $319,563 |
| Grants payable | $0 |
| Deferred revenue | $15,122 |
| 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 | $1,960,757 |
| Total liabilities | $2,295,442 |
| Net assets without donor restrictions | -$541,002 |
| Net assets with donor restrictions | $15,490 |
| 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 | $1,769,930 |