Rochester Stem Academy Inc
- Assets
- $8.4m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 23
- Location
- Rochester, MN
- Founding
- 02/2012
- Data as of
- 06/2022
- EIN
- 90-0642816
Organization Overview
Rochester Stem Academy Inc is located in Rochester, MN. The organization was established in 2012. 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, Rochester Stem Academy Inc employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rochester Stem 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 06/2022, Rochester Stem Academy Inc generated $2.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.3% each year . All expenses for the organization totaled $2.5m during the year ending 06/2022. While expenses have increased by 10.3% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF ROCHESTER STEM ACADEMY IS TO PROVIDE A HIGHLY SUPPORTIVE LEARNING ENVIRONMENT FOR MINORITY, IMMIGRANT AND OTHER STUDENTS CURRENTLY UNDERSERVED IN TRADITIONAL AREA HIGH SCHOOLS AND GREATLY UNDERREPRESENTED IN ROCHESTER'S STEM (SCIENCE, TECHNOLOGY, ENGINEERING, AND MATHEMATICS) INDUSTRIES THROUGH A CHALLENGING PROGRAM THAT EMPHASIZES CREATIVITY, ONGOING ASSESSMENTS, COLLEGE-PREPARATION, AND HIGH ACADEMIC ACHIEVEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MISSION OF ROCHESTER STEM ACADEMY IS TO PROVIDE A HIGHLY SUPPORTIVE LEARNING ENVIRONMENT FOR MINORITY, IMMIGRANT, AND OTHER STUDENTS CURRENTLY UNDERSERVED IN TRADITIONAL AREA HIGH SCHOOLS AND GREATLY UNDERREPRESENTED IN ROCHESTER'S STEM (SCIENCE, TECHNOLOGY, ENGINEERING, AND MATHEMATICS) INDUSTRIES THROUGH A CHALLENGING PROGRAM THAT EMPHASIZES CREATIVITY, ACCOUNTABILITY, ONGOING ASSESSMENTS, COLLEGE-PREPARATION, AND HIGH ACADEMIC ACHIEVEMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charlene Ellingson Executive Director | Officer | 40 | $76,803 |
Daniel Zacharda Member | Trustee | 40 | $42,297 |
Mohamoud Hamud Board Chair | OfficerTrustee | 1 | $0 |
Abdulkadie Abdalla Treasurer | OfficerTrustee | 1 | $0 |
Graeme Preston Member | Trustee | 1 | $0 |
Abdullahi Muhamed Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rochester Math & Science Academy Transportation | 6/29/19 | $169,600 |
Munna Halal Food Service | 6/29/19 | $130,568 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,488,565 |
| All other contributions, gifts, grants, and similar amounts not included above | $17,813 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,506,378 |
| Total Program Service Revenue | $0 |
| Investment income | $235 |
| 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 | $2,506,613 |
| 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. | $187,782 |
| Compensation of current officers, directors, key employees. | $119,545 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $648,506 |
| Pension plan accruals and contributions | $54,070 |
| Other employee benefits | $124,771 |
| Payroll taxes | $65,442 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $127,629 |
| Fees for services: Accounting | $70,875 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $65,768 |
| Advertising and promotion | $0 |
| Office expenses | $34,039 |
| Information technology | $112,726 |
| Royalties | $0 |
| Occupancy | $520,262 |
| Travel | $63,394 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,914 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,163 |
| Insurance | $10,934 |
| All other expenses | $0 |
| Total functional expenses | $2,500,375 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $206,749 |
| Savings and temporary cash investments | $412,335 |
| Pledges and grants receivable | $478,258 |
| 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 | $27,838 |
| Net Land, buildings, and equipment | $6,834,968 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $400,695 |
| Total assets | $8,360,843 |
| Accounts payable and accrued expenses | $205,899 |
| 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 | $8,286,396 |
| Total liabilities | $8,492,295 |
| Net assets without donor restrictions | $0 |
| 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 | -$34,333 |
| Retained earnings, endowment, accumulated income, or other funds | -$97,119 |
| Total liabilities and net assets/fund balances | $8,360,843 |