Horizon Science Academy Of Lorain
- Assets
- $7.4m
- Revenue
- $11.5m
- Investments
- $0.0
- Employees
- 98
- Location
- Lorain, OH
- Founding
- 02/2011
- Data as of
- 06/2021
- EIN
- 26-4574311
Organization Overview
Horizon Science Academy Of Lorain is located in Lorain, OH. The organization was established in 2011. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 06/2021, Horizon Science Academy Of Lorain employed 98 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Horizon Science Academy Of Lorain 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, Horizon Science Academy Of Lorain generated $11.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.9% each year . All expenses for the organization totaled $8.6m during the year ending 06/2021. While expenses have increased by 6.9% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
HORIZON SCIENCE ACADEMY OF LORAIN IS PUBLIC CHARTER SCHOOL THAT SERVING GRADES K THROUGH 12 FOR CHILDREN IN CLEVELAND, OH. THE SCHOOL IS A COLLEGE PREP SCHOOL FOCUSING ON MATH, SCIENCE AND TECHNOLOGY EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTIONAL SERVICES TO STUDENTS K THROUGH 12 GRADES.
INSTRUCTIONAL SERVICES TO STUDENTS K THROUGH 12 GRADES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Sumer School Principal | Officer | 40 | $107,697 |
Robert Hassan Board Member | Trustee | 1 | $0 |
Donald Malloy Board President | Trustee | 1 | $0 |
Marie Bonilla Board Member | Trustee | 1 | $0 |
Abdullah Kayretli Board Member | Trustee | 1 | $0 |
Mehmet Malcok Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $11,434,472 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,434,472 |
| Total Program Service Revenue | $4,038 |
| 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 | $11,463,711 |
| 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. | $107,697 |
| Compensation of current officers, directors, key employees. | $107,697 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,820,704 |
| Pension plan accruals and contributions | $540,652 |
| Other employee benefits | $445,266 |
| Payroll taxes | $300,523 |
| Fees for services: Management | $1,386,506 |
| 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 | $75 |
| Advertising and promotion | $23,044 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $893,833 |
| Travel | $560 |
| 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 | $429,209 |
| Insurance | $0 |
| All other expenses | $197,289 |
| Total functional expenses | $8,551,755 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,166,608 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,193,593 |
| 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 | $1,760,511 |
| Net Land, buildings, and equipment | $1,834,252 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $461,240 |
| Total assets | $7,416,204 |
| Accounts payable and accrued expenses | $702,814 |
| Grants payable | $0 |
| Deferred revenue | $1,046,010 |
| 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 | $6,944,246 |
| Total liabilities | $8,693,070 |
| Net assets without donor restrictions | -$1,276,866 |
| 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 | $7,416,204 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Horizon Science Academy Of Lorain has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
Share Our Strength Washington, DC PURPOSE: CHILDHOOD HUNGER PROGRAMS | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Strada Collaborative Inc Indianapolis, IN | $87,757,237 | $36,146,755 |
Connected Nation Inc Bowling Green, KY | $5,021,239 | $16,572,653 |
Lindley Academy Charter School At Birney Philadelphia, PA | $8,724,796 | $15,521,412 |
National Association Of State Procurement Officials Lexington, KY | $137,920,901 | $31,374,950 |
Accelerate Great Schools Cincinnati, OH | $48,959,993 | $4,700,984 |
Tech Impact Philadelphia, PA | $10,895,345 | $15,289,025 |
Institute For Quality Education Inc Indianapolis, IN | $12,107,092 | $12,010,135 |
Chippewa Luce Macinac Comm Action Human Resource Auth Inc Sault Ste Marie, MI | $6,136,968 | $10,393,284 |
Kappa Kappa Gamma Foundation Dublin, OH | $48,213,422 | $9,077,849 |
Lehigh Valley Charter High School For The Arts Bethlehem, PA | $5,854,757 | $11,587,241 |
Bowling Green Warren County Primary Care Center Inc Bowling Green, KY | $15,935,520 | $7,530,325 |
Horizon Science Academy Of Lorain Lorain, OH | $7,416,204 | $11,463,711 |