Gateway Stem Academy
- Assets
- $2.4m
- Revenue
- $4.5m
- Investments
- $0.0
- Employees
- 50
- Location
- Burnsville, MN
- Founding
- 02/2019
- Data as of
- 06/2022
- 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 06/2022, Gateway Stem Academy employed 50 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 06/2022, Gateway Stem Academy generated $4.5m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 18.0% each year . All expenses for the organization totaled $4.6m during the year ending 06/2022. While expenses have increased by 16.7% 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
2022
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 GREW ITS PROGRAMMING IN ITS 4TH YEAR TO INCORPORATE MORE STEM EDUCATION AND INCREASING ITS REACH TO UNDERSERVED COMMUNITIES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Abdiaziz Farah Former Executive Director | Officer | 40 | $107,585 |
Ed Fellows Executive Director | Officer | 40 | $98,296 |
Patrick Soberg Secretary And Teacher | OfficerTrustee | 40 | $42,675 |
Abdiraham Mukhtar Treasurer | OfficerTrustee | 5 | $0 |
Mukhtar Sharif Board Chair | OfficerTrustee | 5 | $0 |
Sadia Wasuge Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Minnehaha Transporation Transporation | 6/29/22 | $401,605 |
Pm Logistics Transporation | 6/29/22 | $170,095 |
Wdtech Online Technology Services | 6/29/22 | $119,448 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,104,231 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,516 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,107,747 |
| Total Program Service Revenue | $429,408 |
| Investment income | $175 |
| 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 | $4,538,522 |
| 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. | $229,904 |
| Compensation of current officers, directors, key employees. | $32,734 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,465,834 |
| Pension plan accruals and contributions | $406,140 |
| Other employee benefits | $71,921 |
| Payroll taxes | $129,909 |
| Fees for services: Management | $447,557 |
| 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 | $679,512 |
| Advertising and promotion | $0 |
| Office expenses | $102 |
| Information technology | $164,801 |
| Royalties | $0 |
| Occupancy | $57,719 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $878 |
| Interest | $3,783 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $317,888 |
| Insurance | $11,792 |
| All other expenses | $4,520 |
| Total functional expenses | $4,583,405 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $327,353 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $732,345 |
| 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 | $21,790 |
| Net Land, buildings, and equipment | $338,355 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $998,644 |
| Total assets | $2,418,487 |
| Accounts payable and accrued expenses | $305,036 |
| Grants payable | $0 |
| Deferred revenue | $3,862 |
| 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 | $1,911,108 |
| Total liabilities | $2,220,006 |
| Net assets without donor restrictions | $195,404 |
| Net assets with donor restrictions | $3,077 |
| 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 | $2,418,487 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Gateway Stem Academy has recieved totaling $5.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Seeds Of Health Milwaukee, WI | $21,433,274 | $18,248,715 |
Twin Cities International Schools Minneapolis, MN | $10,477,770 | $17,272,708 |
Eagle Ridge Academy Minnetonka, MN | $14,507,492 | $16,854,949 |
Lakes International Language Academy Forest Lake, MN | $12,188,611 | $15,744,589 |
Parnassus Preparatory School Maple Grove, MN | $11,987,253 | $16,239,729 |
Hmong American Peace Academy Ltd Milwaukee, WI | $62,055,663 | $22,180,285 |
Seven Hills Preparatory Academy Bloomington, MN | $12,008,176 | $15,420,403 |
St Croix Preparatory Academy Stillwater, MN | $15,400,325 | $14,730,120 |
Athlos Leadership Academy Brooklyn Park, MN | $8,310,126 | $14,353,758 |
Prairie Seeds Academy Brooklyn Park, MN | $11,928,237 | $14,361,129 |
Kipp Minnesota Minneapolis, MN | $9,470,276 | $14,681,951 |
Prodeo Academy Columbia Heights, MN | $7,923,634 | $13,232,357 |