Firefly Academy Inc
- Assets
- $746.0
- Revenue
- $86.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Cedar Park, TX
- Founding
- 02/2019
- Data as of
- 12/2020
- EIN
- 82-3749390
Organization Overview
Firefly Academy Inc is located in Cedar Park, TX. The organization was established in 2019. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Firefly 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 12/2020, Firefly Academy Inc generated $86.1k in total revenue.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2020
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE TEXAS ROCKET ENGINEERING LAB (TREL) WAS ESTABLISHED THROUGH A $1,000,000 COMMITMENT BY FIREFLY ACADEMY TO UT. THIS COMMITMENT WAS MADE IN ORDER TO HELP THE STUDENTS BUILD THE FIRST STUDENT-BUILT ROCKET TO PASS 100 KM. THE BASE11 SPACE CHALLENGE WAS ANNOUNCED SOON AFTER THE COMMITMENT WAS MADE. THE BASE11 SPACE CHALLENGE WILL AWARD $1,000,000 TO THE FIRST STUDENT TEAM TO LAUNCH A ROCKET TO 100 KM. IN ADDITION TO THE FINANCIAL COMMITMENT, FIREFLY ACADEMY HAS ALSO ORGANIZED LECTURES, MENTORSHIP, AND TESTING FOR TREL THROUGH ITS PARTNERSHIP WITH FIREFLY AEROSPACE. FIREFLY AEROSPACE EMPLOYEES LECTURE TO TREL STUDENTS REGARDING HOW TO BUILD A ROCKET. IN ADDITION, FIREFLY ACADEMY IS CURRENTLY HELPING TREL SUBLEASE A PORTION OF FIREFLY AEROSPACE'S TEST SITE. THIS LEASE WILL ALLOW TREL STUDENTS TO SAFELY TEST THEIR HARDWARE WITH FIREFLY AEROSPACE GUIDANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ed Tovar Director | 5 | $0 | |
Idris Motiwala Director | 5 | $0 | |
Steve Gokorsch Ed, Secretary, Treasurer | 5 | $0 | |
Thomas Markusic Director | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $86,089 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $86,089 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,430 |
| Total operating and administrative expenses | $5,930 |
| Contributions, gifts, grants paid | $79,429 |
| Total expenses and disbursements | $85,359 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $746 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $746 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Firefly Academy Inc has recieved totaling $170,000.
| Awarding Organization | Amount |
|---|---|
Foundation For The Carolinas Charlotte, NC PURPOSE: CHARITABLE GIFT | $170,000 |
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