Jumoke Academy Inc
- Assets
- $8.2m
- Revenue
- $11.0m
- Investments
- $0.0
- Employees
- 139
- Location
- Hartford, CT
- Founding
- 09/1997
- Data as of
- 06/2021
- EIN
- 06-1488572
Organization Overview
Jumoke Academy Inc is located in Hartford, CT. The organization was established in 1997. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2021, Jumoke Academy Inc employed 139 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Jumoke 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 06/2021, Jumoke Academy Inc generated $11.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $9.8m during the year ending 06/2021. While expenses have increased by 1.0% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PREPARE CHILDREN TO COMPETE IN THE GLOBAL MARKETPLACE EVEN AS THEY FACE ECONOMIC AND SOCIAL CHALLENGES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED INSTRUCTIONAL SERVICES TO APPROXIMATELY 708 CHILDREN, MANY OF WHOM COME FROM SOCIALLY AND ECONOMICALLY CHALLENGED AREAS.
PROVIDED INSTRUCTIONAL SERVICES TO APPROXIMATELY 708 CHILDREN, MANY OF WHOM COME FROM SOCIALLY AND ECONOMICALLY CHALLENGED AREAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Troy Monroe Executive Director | Officer | 37.5 | $177,505 |
Frank Williams Chief Financial Officer | OfficerTrustee | 37.5 | $144,674 |
Maria M Gordan Hall Principal | 37.5 | $111,427 | |
Latoya Johnson Principal | 37.5 | $107,998 | |
Tracey Phenix Board Member & Teacher Representative | Trustee | 37.5 | $48,011 |
James Michel Board Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Rensselaerville Institute Professional Development For Principals | 6/29/21 | $191,778 |
Downes Construction Company Llc Construction Services | 6/29/21 | $139,077 |
Achieve First Pupil Services | 6/29/21 | $346,875 |
Achieve First Pupil Services | 6/29/21 | $346,875 |
Downes Construction Company Llc Construction Services | 6/29/21 | $139,077 |
The Rensselaerville Institute Professional Development For Principals | 6/29/21 | $191,778 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,261,035 |
| All other contributions, gifts, grants, and similar amounts not included above | $678,608 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,939,643 |
| Total Program Service Revenue | $8,061,181 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $12,000 |
| 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 | $11,046,484 |
| 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. | $386,363 |
| Compensation of current officers, directors, key employees. | $206,885 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,524,515 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,013,330 |
| Payroll taxes | $316,539 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $19,030 |
| Fees for services: Accounting | $26,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $728,484 |
| Advertising and promotion | $10,805 |
| Office expenses | $181,821 |
| Information technology | $147,391 |
| Royalties | $0 |
| Occupancy | $671,787 |
| Travel | $49,892 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $58,230 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $258,009 |
| Insurance | $168,531 |
| All other expenses | $0 |
| Total functional expenses | $9,787,379 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,024,011 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $111,111 |
| Accounts receivable, net | $623,687 |
| 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 | $15,742 |
| Net Land, buildings, and equipment | $4,471,695 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,246,246 |
| Accounts payable and accrued expenses | $854,578 |
| Grants payable | $0 |
| Deferred revenue | $550,050 |
| 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 | $1,609,876 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,014,504 |
| Net assets without donor restrictions | $5,231,742 |
| 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 | $8,246,246 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Jumoke Academy Inc has recieved totaling $750,297.
| Awarding Organization | Amount |
|---|---|
Peter And Carmen Lucia Buck Foundation Inc New York, NY PURPOSE: GENERAL OPERATING SUPPORT | $500,000 |
Peter And Carmen Lucia Buck Foundation Inc New York, NY PURPOSE: GETTING TO GREAT | $250,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $297 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Albany Academy Albany, NY | $58,726,077 | $27,181,105 |
Cambridge School Of Weston Inc Weston, MA | $57,046,494 | $20,616,161 |
Nichols School Of Buffalo Buffalo, NY | $102,003,479 | $42,213,694 |
Yeshiva Shaare Torah Inc Brooklyn, NY | $32,363,623 | $20,724,747 |
Ideal School Of Manhattan New York, NY | $22,538,816 | $19,239,739 |
Harvey School Katonah, NY | $30,358,551 | $19,988,341 |
Lincoln School Providence, RI | $36,052,997 | $18,197,199 |
The Harley School Rochester, NY | $36,830,266 | $16,619,746 |
Quad Preparatory School New York, NY | $14,717,917 | $18,563,667 |
Amber Charter School New York, NY | $18,229,334 | $20,911,182 |
Green Vale School Old Brookville, NY | $64,002,052 | $17,567,329 |
Winchendon School Inc Winchendon, MA | $68,621,046 | $15,557,946 |