Horizon Science Academy Of Lorain
- Assets
- $15.9m
- Revenue
- $14.6m
- Investments
- $0.0
- Employees
- 112
- Location
- Lorain, OH
- Founding
- 02/2011
- Data as of
- 06/2023
- 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 06/2023, Horizon Science Academy Of Lorain employed 112 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 06/2023, Horizon Science Academy Of Lorain generated $14.6m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 14.4% each year . All expenses for the organization totaled $12.0m during the year ending 06/2023. While expenses have increased by 11.1% per year over the past 5 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
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Megan Collins School Principal | Officer | 40 | $93,758 |
Mustafa Arslan Board Member | Trustee | 1 | $0 |
Robert Hassan Board Member | Trustee | 1 | $0 |
Donald Malloy Board President | Trustee | 1 | $0 |
Abdullah Kayretli Board Member | Trustee | 1 | $0 |
Marie Bonilla Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $14,408,559 |
| 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 | $14,408,559 |
| Total Program Service Revenue | $102,393 |
| 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 | $14,582,065 |
| 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. | $93,758 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,492,353 |
| Pension plan accruals and contributions | $1,300,237 |
| Other employee benefits | $0 |
| Payroll taxes | $427,337 |
| Fees for services: Management | $1,880,535 |
| 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 | $60,268 |
| Advertising and promotion | $149,446 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $441,805 |
| Travel | $17,981 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $25,413 |
| Interest | $39,194 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $920,851 |
| Insurance | $0 |
| All other expenses | $266,803 |
| Total functional expenses | $11,988,062 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,921,942 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $370,386 |
| 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 | $3,359,717 |
| Net Land, buildings, and equipment | $5,506,611 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $791,243 |
| Total assets | $15,949,899 |
| Accounts payable and accrued expenses | $781,877 |
| Grants payable | $0 |
| Deferred revenue | $1,747,476 |
| 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 | $8,083,694 |
| Total liabilities | $10,613,047 |
| Net assets without donor restrictions | $5,336,852 |
| 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 | $15,949,899 |