Rochester Arts & Sciences Academy Foundation
- Assets
- $1.4m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 34
- Location
- Rochester, MN
- Founding
- 06/2008
- Data as of
- 06/2023
- EIN
- 20-8201223
Organization Overview
Rochester Arts & Sciences Academy Foundation is located in Rochester, MN. The organization was established in 2008. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2023, Rochester Arts & Sciences Academy Foundation employed 34 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rochester Arts & Sciences Academy Foundation 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 06/2023, Rochester Arts & Sciences Academy Foundation generated $3.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 19.7% each year . All expenses for the organization totaled $2.8m during the year ending 06/2023. While expenses have increased by 19.1% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
RASA AIMS TO DEVELOP ACTIVE LEARNERS, WELL ROUNDED INDIVIDUALS, AND ENGAGED WORLD CITIZENS. OUR TEACHERS CHANNEL CHILDREN'S NATURAL CURIOSITY TO DEVELOP LIFELONG INQUIRERS PREPARED TO THRIVE IN A DIVERSE WORLD. AS AN INTERNATIONAL BACCALAUREATE (IB) WORLD SCHOOL, WE EMBRACE THE IB MISSION AND EDUCATIONAL MODEL WHILE NURTURING INDIVIDUAL TALENTS AND INSPIRING ACADEMIC EXCELLENCE. WE ARE A CARING AND ACCEPTING COMMUNITY OFFERING FAMILIES AN UNPARALLELED EDUCATIONAL OPPORTUNITY FOR THEIR CHILDREN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ROCHESTER ARTS AND SCIENCES ACADEMY FOUNDATION PROVIDES STUDENTS WITH AN INTERNATIONAL BACCALAUREATE BASED EDUCATION THAT DEVELOPS ACTIVE LEARNERS, WELL-ROUNDED INDIVIDUALS AND ENGAGED WORLD CITIZENS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lindsay Warner Co-Chair | Officer | 2 | $0 |
Paul Warner Co-Chair | Officer | 2 | $0 |
Nick Pompeian Treasurer | Officer | 2 | $0 |
Erica Loomis Co-Secretary | Officer | 2 | $0 |
Steve Loomis Co-Secretary | Officer | 2 | $0 |
Allison Matthews Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $41,162 |
| All other contributions, gifts, grants, and similar amounts not included above | $68,437 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $109,599 |
| Total Program Service Revenue | $3,016,411 |
| Investment income | $2,409 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $1,909 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,147,121 |
| 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. | $135,951 |
| Compensation of current officers, directors, key employees. | $27,190 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,437,961 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $120,677 |
| Payroll taxes | $111,316 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,836 |
| Office expenses | $37,349 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $360,697 |
| Travel | $943 |
| 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 | $13,938 |
| Insurance | $16,616 |
| All other expenses | $130,958 |
| Total functional expenses | $2,784,983 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $873,444 |
| Savings and temporary cash investments | $198,442 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $70,612 |
| 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 | $13,607 |
| Net Land, buildings, and equipment | $163,604 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $33,600 |
| Total assets | $1,353,309 |
| Accounts payable and accrued expenses | $17,779 |
| Grants payable | $0 |
| Deferred revenue | $102,900 |
| 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 | $1,513 |
| Total liabilities | $122,192 |
| Net assets without donor restrictions | $1,231,117 |
| 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 | $1,353,309 |