Jumoke Academy Inc
- Assets
- $8.9m
- Revenue
- $11.1m
- Investments
- $0.0
- Employees
- 152
- Location
- Hartford, CT
- Founding
- 09/1997
- Data as of
- 06/2022
- 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 06/2022, Jumoke Academy Inc employed 152 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 06/2022, Jumoke Academy Inc generated $11.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $10.0m during the year ending 06/2022. While expenses have increased by 1.2% 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
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Michel Board Chair | OfficerTrustee | 1 | $0 |
Myron Stewart Board Treasurer & Community Representative | OfficerTrustee | 1 | $0 |
Thomas Smith Board Secretary & Community Representative | OfficerTrustee | 1 | $0 |
Janelle Lester Board Member & Community Representative | Trustee | 1 | $0 |
Damien Pittola Board Member & Community Representative | Trustee | 1 | $0 |
Troy Monroe Executive Director | Officer | 37.5 | $185,058 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Rensselaerville Institute Teacher Consulting Services | 6/29/22 | $216,500 |
B&h Property Maintenance Contracted Custodial Services | 6/29/22 | $192,425 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,575,120 |
| All other contributions, gifts, grants, and similar amounts not included above | $896,736 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,471,856 |
| Total Program Service Revenue | $8,566,226 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $14,400 |
| 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 | $11,059,232 |
| 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. | $323,526 |
| Compensation of current officers, directors, key employees. | $123,412 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,162,544 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $999,248 |
| Payroll taxes | $321,988 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $20,092 |
| Fees for services: Accounting | $26,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $888,610 |
| Advertising and promotion | $29,099 |
| Office expenses | $216,786 |
| Information technology | $606,890 |
| Royalties | $0 |
| Occupancy | $647,156 |
| Travel | $52,759 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $53,717 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $275,186 |
| Insurance | $180,583 |
| All other expenses | $0 |
| Total functional expenses | $10,013,914 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,072,587 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $983,432 |
| 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 | $0 |
| Net Land, buildings, and equipment | $4,855,013 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,911,032 |
| Accounts payable and accrued expenses | $663,324 |
| Grants payable | $0 |
| Deferred revenue | $500,075 |
| 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 | $1,470,573 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,633,972 |
| Net assets without donor restrictions | $6,277,060 |
| 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 | $8,911,032 |