Laamistad Inc
- Assets
- $2.1m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 69
- Location
- Atlanta, GA
- Founding
- 10/2006
- Data as of
- 06/2022
- EIN
- 20-5359559
Organization Overview
Laamistad Inc is located in Atlanta, GA. The organization was established in 2006. According to its NTEE Classification (O50) the organization is classified as: Youth Development Programs, under the broad grouping of Youth Development and related organizations. As of 06/2022, Laamistad Inc employed 69 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Laamistad 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, Laamistad Inc generated $2.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.1% each year . All expenses for the organization totaled $1.4m during the year ending 06/2022. While expenses have increased by 10.6% 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 SUPPORT LATIN STUDENTS AND THEIR FAMILIES BY PROVIDING A COMPREHENSIVE SUPPORT SYSTEM THROUGH TUTORING, MENTORING AND RESOURCES THAT PROMOTES ACADEMIC, PHYSICAL AND PERSONAL GROWTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR CORE PROGRAMS, LAAMISTAD AFTERSCHOOL, LAAMISTAD ESL, LAAMISTAD ANMATE SUMMER ACADEMY, AND LAAMISTAD PARENT PARTNERSHIP, ARE ALL MADE POSSIBLE THROUGH OVER 603 VOLUNTEERS THAT GENEROUSLY GAVE OVER 10,600 HOURS THIS YEAR. WITH THEIR HELP, WE CONTINUE FULFILLING OUR MISSION TO PREPARE LATINO STUDENTS AND FAMILIES FOR SUCCESS THROUGH ACADEMIC AND LIFE ENRICHMENT PROGRAMS. WE PROVIDE 12 AFTERSCHOOL LOCATIONS, 3 SUMMER ACADEMIES AND ONLINE ADULT ESL PROGRAMS. LAAMISTAD AFTERSCHOOL SERVED OVER 232 STUDENTS THAT AVERAGED A/B ON THEIR FINAL REPORT CARDS IN THEIR CORE SUBJECTS. 100% OF PARENTS OF AFTERSCHOOL STUDENTS BELIEVE THEIR STUDENTS HAVE A MORE PROMISING FUTURE BY PROVIDING A SAFE PLACE THAT OFFERS ENJOYABLE ACTIVITIES TO ENRICH STUDENTS' LEARNING. LAAMISTAD ESL SERVED OVER 5,000 SINCE INCEPTION AND 264 UNIQUE STUDENTS THAT AVERAGED A 91% ON THEIR FINAL CLASS GRADE THIS YEAR. LAAMISTAD ANIMATE SUMMER ACADEMY SERVED OVER 111 STUDENTS. READING FLUENCY SCORES IMPROVED BY 120% AND MATH FREQUENCY SCORES IMPROVED BY AN AVERAGE OF 193%.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Catrina Mcafee Executive Director | Officer | 40 | $90,530 |
Julianna Rue Cagle Chair | OfficerTrustee | 3 | $0 |
Rachel Bartlett Treasurer | OfficerTrustee | 3 | $0 |
Wilheem Perez Vice Chair | OfficerTrustee | 2 | $0 |
Brad Maudlin Secretary | OfficerTrustee | 2 | $0 |
Johanna C Sullivan Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $18,944 |
| Related organizations | $0 |
| Government grants | $391,949 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,799,846 |
| Noncash contributions included in lines 1a–1f | $47,850 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,210,739 |
| Total Program Service Revenue | $66,275 |
| Investment income | $971 |
| 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 | $2,280,643 |
| 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. | $90,530 |
| Compensation of current officers, directors, key employees. | $9,295 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $807,657 |
| Pension plan accruals and contributions | $14,193 |
| Other employee benefits | $87,382 |
| Payroll taxes | $57,368 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $55,019 |
| Advertising and promotion | $4,709 |
| Office expenses | $0 |
| Information technology | $27,500 |
| Royalties | $0 |
| Occupancy | $10,904 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $49,986 |
| Insurance | $21,978 |
| All other expenses | $0 |
| Total functional expenses | $1,445,268 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,484,945 |
| Savings and temporary cash investments | $124,384 |
| Pledges and grants receivable | $0 |
| 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 | $9,031 |
| Net Land, buildings, and equipment | $462,846 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,081,206 |
| Accounts payable and accrued expenses | $44,450 |
| Grants payable | $0 |
| Deferred revenue | $32,900 |
| 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 | $77,350 |
| Net assets without donor restrictions | $1,511,135 |
| Net assets with donor restrictions | $492,721 |
| 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 | $2,081,206 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Laamistad Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
The Wilson Family Foundation High Point, NC PURPOSE: CHARITABLE CONTRIBUTION | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Youth Enrichment Program Of Wilson Wilson, NC | $22,968,665 | $15,099,824 |
Seeding Success Memphis, TN | $15,830,696 | $16,460,800 |
Florida Sheriffs Youth Ranches Inc Boys Ranch, FL | $84,342,372 | $25,037,131 |
National Association Of Competitive Soccer Clubs Myrtle Beach, SC | $2,349,314 | $12,740,248 |
Emerald Youth Foundation Knoxville, TN | $26,135,509 | $10,102,853 |
Epic-Cure Inc St Augustine, FL | $312,618 | $8,316,447 |
Gulf Coast Childrens Advocacy Panama City, FL | $5,514,072 | $7,744,827 |
National Honorary Beta Club Spartanburg, SC | $16,976,895 | $7,178,910 |
Gang Alternative Inc Miami, FL | $2,177,395 | $7,044,505 |
Girls On The Run International Charlotte, NC | $10,723,648 | $6,480,865 |
Tennessee Soccer Club Inc Brentwood, TN | $2,122,655 | $5,672,715 |
Big Brothers And Big Sisters Of Greater Miami Miami, FL | $13,886,069 | $6,863,222 |