Adelphi Academy
- Assets
- $2.5m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 40
- Location
- Brooklyn, NY
- Founding
- 06/1941
- Data as of
- 06/2021
- EIN
- 11-1630740
Organization Overview
Adelphi Academy is located in Brooklyn, NY. The organization was established in 1941. 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, Adelphi Academy employed 40 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Adelphi 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 06/2021, Adelphi Academy generated $3.1m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.9%) each year. All expenses for the organization totaled $3.1m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (1.7%) per year over the past 7 years. 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
A COLLEGE PREPARATORY SCHOOL WHICH PROVIDES DIVERSE STUDENT BODY WITH A NURTURING, COMPREHENSIVE & CHALLENGING PROGRAM OF STUDIES AND ACTIVITIES IN A SAFE, CARING & SECURE ENVIRONMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXEMPT PURPOSE IS EDUCATIONAL SERCVICES. ADELPHI ACADEMY IS A PRIVATE SCHOOL WHICH SERVICES PRE K TO GRADE 12.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Iphigenia Romanos Head Of Scho | Officer | 45 | $194,059 |
Albert C Corhan Dir Of Opera | 45 | $176,864 | |
Emil Cafiero Trustee | Trustee | 45 | $0 |
Iris Iglesias Trustee | Trustee | $0 | |
Amable Mieses Trustee | Trustee | $0 | |
Joseph Mure Trustee | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $787,906 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $85,603 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,109,523 |
| Statement of Expenses | |
|---|---|
| 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. | $200,030 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,257,115 |
| Pension plan accruals and contributions | $40,201 |
| Other employee benefits | $97,722 |
| Payroll taxes | $96,659 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $41,379 |
| Fees for services: Accounting | $8,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,042 |
| Advertising and promotion | $8,177 |
| Office expenses | $199,644 |
| Information technology | $40,884 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $553,089 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $102,335 |
| Insurance | $129,710 |
| All other expenses | $0 |
| Total functional expenses | $3,149,126 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $215,637 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $738,749 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $150,000 |
| Total assets | $2,458,734 |
| Accounts payable and accrued expenses | $301,502 |
| Grants payable | $0 |
| Deferred revenue | $191,480 |
| 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 | $7,693,394 |
| Unsecured mortgages and notes payable | $406,405 |
| Other liabilities | $0 |
| Total liabilities | $8,592,781 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | -$6,134,047 |