Avondale Learning
- Assets
- $934.0k
- Revenue
- $873.9k
- Investments
- $0.0
- Employees
- 10
- Location
- Phoenix, AZ
- Founding
- 07/2002
- Data as of
- 06/2023
- EIN
- 86-1043009
Organization Overview
Avondale Learning, operating under the name Precision Academy, is located in Phoenix, AZ. The organization was established in 2002. 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, Precision Academy employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Precision 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, Precision Academy generated $873.9k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $765.6k during the year ending 06/2023. 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
TO HELP STUDENTS REACH THEIR MAXIMUM POTENTIAL FOR A SUCCESSFUL LIFE IN THE 21ST CENTURY AND PREPARE STUDENTS FOR POSTSECONDARY EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SCHOOL SERVES APPROXIMATELY 68 STUDENTS IN NINTH THROUGH TWELFTH GRADES. THE SCHOOL PREPARES STUDENTS FOR POSTSECONDARY EDUCATION AND LAYS THE FOUNDATION FOR ENTRY INTO PROFESSIONAL AND BUSINESS CAREERS WHILE HELPING INDIVIDUALS REACH THEIR MAXIMUM POTENTIAL. THE SCHOOL UTILIZES A SCHOOL BUILDING THAT IS OWNED BY A RELATED CHARTER SCHOOL FOR FINANCIAL STATEMENT PURPOSES. THE SCHOOL RECORDED $84,000 AS CONTRIBUTED RENT AND RENT AND OCCUPANCY COSTS ON THE FINANCIAL STATEMENTS FOR USE OF THE BUILDING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick Finn Bd Member/teacher & Co-Principal | OfficerTrustee | 35 | $80,739 |
Caroline White Bd Member/ed. Director | OfficerTrustee | 35 | $66,272 |
Chris Weckbaugh Bd Member/teacher & Co-Principal | OfficerTrustee | 35 | $80,840 |
Nieves Aripre Bd Member/secretary | Trustee | 30 | $35,205 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $872,013 |
| 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 | $872,013 |
| Total Program Service Revenue | $0 |
| Investment income | $76 |
| 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 | $873,887 |
| 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. | $359,166 |
| Compensation of current officers, directors, key employees. | $23,297 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $204,397 |
| Pension plan accruals and contributions | $3,795 |
| Other employee benefits | $4,406 |
| Payroll taxes | $36,819 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $31,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,532 |
| Advertising and promotion | $1,746 |
| Office expenses | $23,738 |
| Information technology | $10,252 |
| Royalties | $0 |
| Occupancy | $68,439 |
| Travel | $719 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,860 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,948 |
| Insurance | $2,689 |
| All other expenses | $0 |
| Total functional expenses | $765,550 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $616,828 |
| Savings and temporary cash investments | $249,814 |
| Pledges and grants receivable | $5,249 |
| 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 | $650 |
| Net Land, buildings, and equipment | $61,436 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $933,977 |
| Accounts payable and accrued expenses | $23,510 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $23,510 |
| Net assets without donor restrictions | $910,467 |
| 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 | $933,977 |