Salem Academy Charter School Foundation Inc

Organization Overview

Salem Academy Charter School Foundation Inc is located in Salem, MA. The organization was established in 2003. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. Salem Academy Charter School Foundation 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 06/2022, Salem Academy Charter School Foundation Inc generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 43.6% each year . All expenses for the organization totaled $767.3k during the year ending 06/2022. While expenses have increased by 38.9% per year over the past 7 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO SUPPORT THE ACTIVITIES OF SALEM ACADEMY CHARTER SCHOOL

Describe the Organization's Program Activity:

Part 3 - Line 4a

TO SUPPORT THE ACTIVITIES OF SALEM ACADEMY CHARTER SCHOOL


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Board, Officers & Key Employees

Name (title)Compensation
Connie Burke
Treasurer
$0
W Stevenson Palmer
President
$0
Emily O'brien
Clerk
$0
Kathy Egmont
Vice President
$0
Jennifer Lussier
Board Member
$0
Rachel Hunt
Board Member
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$1,468,355
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$1,468,355
Total Program Service Revenue$0
Investment income $1,039
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 $1,469,394

Grants Recieved

Over the last fiscal year, we have identified 2 grants that Salem Academy Charter School Foundation Inc has recieved totaling $9,804.

Awarding OrganizationAmount
Schwab Charitable Fund

San Francisco, CA

PURPOSE: EDUCATION

$9,500
Eastern Bank Charitable Foundation

Lynn, MA

PURPOSE: EXEMPT PURPOSE

$304
View Grant Recipient Profile

Endowment Analysis

Earnings$63
Net Contributions$100,004
Ending Balance$100,067

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