Menlo Park Academy
- Assets
- $18.9m
- Revenue
- $6.5m
- Investments
- $0.0
- Employees
- 107
- Location
- Cleveland, OH
- Founding
- 06/2009
- Data as of
- 06/2022
- EIN
- 26-3020224
Organization Overview
Menlo Park Academy is located in Cleveland, OH. The organization was established in 2009. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2022, Menlo Park Academy employed 107 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Menlo Park 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 06/2022, Menlo Park Academy generated $6.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.4% each year . All expenses for the organization totaled $6.3m during the year ending 06/2022. While expenses have increased by 10.1% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
MENLO PARK ACADEMY IS A PUBLIC SCHOOL THAT DEVELOPS THE POTENTIAL OF GIFTED LEARNERS THROUGH AN EXEMPLARY PROGRAM OF REWARDING EXPERIENCES THAT NURTURES THE WHOLE CHILD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SCHOOL FOCUSES ON EACH OF THE FOLLOWING CONCEPTS INDIVIDUALLY: PUBLIC COMMUNITY SCHOOL WITH OPEN ENROLLMENT AND NO TUITION; IS DESIGNED FOR GIFTED LEARNERS AS DEFINED BY THE STATE OF OHIO; OFFERS EXEMPLARY CURRICULUM WITH THE APPROPRIATE ACCELERATION AND DIFFERENTIATION; OFFERS REWARDING EXPERIENCES TO BUILD STUDENT SELF CONFIDENCE AND ENJOYMENT; PARTNERSHIP WITH FACULTY AND PARENTS, A SCHOOL ENVIRONMENT THAT FOCUSES ON THE ASYNCHRONOUS DEVELOPMENT OF THE STUDENT'S EMOTIONAL, SPIRITUAL, PHYSICAL AND ACADEMIC ABILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Dornan Board Member | Trustee | 1 | $0 |
Dante Giancola Board Member | Trustee | 1 | $0 |
Teri Harrison Board Chair | Trustee | 2 | $0 |
Suzanne Mcfarland Board Member | Trustee | 1 | $0 |
Melissa Picone Board Member | Trustee | 1 | $0 |
Tiffany Randle Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cleveland Corporate Cleaning Cleaning Services | 6/29/22 | $134,831 |
Data Path Inc Technology Services | 6/29/22 | $183,372 |
Innovation Food Service Student Food Services | 6/29/22 | $214,317 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,525,126 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,525,126 |
| Total Program Service Revenue | $0 |
| 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 | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,525,126 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,850,664 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $449,281 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $119,827 |
| Fees for services: Accounting | $91,340 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $132,220 |
| Advertising and promotion | $91,303 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,150,666 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $352,496 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $615,186 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $6,347,681 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $255,603 |
| Savings and temporary cash investments | $685,372 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $836,831 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $253,277 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $83,031 |
| Net Land, buildings, and equipment | $14,775,118 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,978,636 |
| Total assets | $18,867,868 |
| Accounts payable and accrued expenses | $1,070,336 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $7,607,571 |
| Other liabilities | $5,287,838 |
| Total liabilities | $13,965,745 |
| Net assets without donor restrictions | $4,902,123 |
| 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 | $18,867,868 |