Rhode Island Mayoral Academy
- Assets
- $44.7m
- Revenue
- $42.2m
- Investments
- $0.0
- Employees
- 402
- Location
- Cumberland, RI
- Founding
- 03/2011
- Data as of
- 06/2022
- EIN
- 27-0617933
Organization Overview
Rhode Island Mayoral Academy, operating under the name Blackstone Valley Prep, is located in Cumberland, RI. The organization was established in 2011. 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, Blackstone Valley Prep employed 402 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Blackstone Valley Prep 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, Blackstone Valley Prep generated $42.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.6% each year . All expenses for the organization totaled $39.4m during the year ending 06/2022. While expenses have increased by 9.9% 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 PREPARE EVERY SCHOLAR FOR SUCCESS IN COLLEGE AND THE WORLD BEYOND.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BLACKSTONE VALLEY PREP (BVP) IS A NON-PROFIT ORGANIZATION ESTABLISHED TO PROVIDE ELEMENTARY, MIDDLE SCHOOL AND HIGH SCHOOL EDUCATION TO STUDENTS RESIDING IN CUMBERLAND, CENTRAL FALLS, LINCOLN, AND PAWTUCKET, RHODE ISLAND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeremy Chiappetta Chief Executive Officer | Officer | 45 | $192,863 |
Sarah Anderson Chief Academic Officer | 45 | $139,375 | |
Michael Dematteo Chief Operations Officer | 45 | $124,630 | |
Christine Losea Chief Financial Officer | Officer | 45 | $118,030 |
Joshua Falk Head Of High School | 45 | $114,861 | |
Marielle Emet Head Of Junior High School | 45 | $110,697 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Durham School Services Transportation | 6/29/19 | $1,819,948 |
Civic Ri Central Falls Charter I Llc Lessor | 6/29/19 | $650,306 |
Civic Ri Central Falls Charter Iii Llc Lessor | 6/29/19 | $347,993 |
Mill City Construction Construction Contractor | 6/29/19 | $323,407 |
Civic Broad Street Corporation Lessor | 6/29/19 | $624,994 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $7,921,861 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,653,434 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,575,295 |
| Total Program Service Revenue | $32,597,338 |
| Investment income | $15,011 |
| 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 | $42,226,919 |
| 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. | $401,754 |
| Compensation of current officers, directors, key employees. | $100,439 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $21,729,399 |
| Pension plan accruals and contributions | $659,055 |
| Other employee benefits | $2,272,771 |
| Payroll taxes | $1,615,895 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $143,153 |
| Fees for services: Accounting | $83,900 |
| Fees for services: Lobbying | $78,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $934,891 |
| Advertising and promotion | $10,955 |
| Office expenses | $1,318,360 |
| Information technology | $207,805 |
| Royalties | $0 |
| Occupancy | $2,086,427 |
| Travel | $13,095 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $375,731 |
| Interest | $1,181,396 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,732,882 |
| Insurance | $467,882 |
| All other expenses | $0 |
| Total functional expenses | $39,413,618 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,823,537 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,095,010 |
| 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 | $513,846 |
| Net Land, buildings, and equipment | $32,414,273 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $846,052 |
| Total assets | $44,692,718 |
| Accounts payable and accrued expenses | $3,813,704 |
| 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 | $30,701,358 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $34,515,062 |
| Net assets without donor restrictions | $10,149,162 |
| Net assets with donor restrictions | $28,494 |
| 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 | $44,692,718 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Rhode Island Mayoral Academy has recieved totaling $71,056.
| Awarding Organization | Amount |
|---|---|
Simon W Wardwell Foundation Cranston, RI PURPOSE: PROGRAM/PROJECT EXPENSE | $50,000 |
Cvs Health Charity Classic Inc Woonsocket, RI PURPOSE: GENERAL | $10,000 |
Find Your Light Foundation Los Angeles, CA PURPOSE: TO PROVIDE A VITAL SERVICE TO THE UNDERSERVED POPULATION THROUGH ARTS EDUCATION PROGRAMS | $10,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $1,056 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Achievement First Inc New Haven, CT | $52,811,061 | $64,422,955 |
Rhode Island Mayoral Academy Cumberland, RI | $44,692,718 | $42,226,919 |
Achievement First Rhode Island New Haven, CT | $19,683,627 | $34,238,868 |
Goodwin College Magnet Schools Inc East Hartford, CT | $5,402,152 | $17,501,870 |
Achievement First Hartford Academy Inc New Haven, CT | $6,951,433 | $17,053,937 |
Paul Cuffee School Providence, RI | $13,974,820 | $16,770,174 |
Achievement First Bridgeport Academy Inc New Haven, CT | $13,758,067 | $16,509,487 |
Capital Prep Charter Schools Ny Bridgeport, CT | $5,743,327 | $15,721,123 |
Elm City College Preparatory Inc New Haven, CT | $33,084,628 | $13,299,319 |
The Highlander Charter School Providence, RI | $14,624,382 | $14,745,189 |
Capital Prep Harbor School Inc Bridgeport, CT | $4,120,211 | $11,615,050 |
Great Oaks Charter School - Bridgeport Inc Bridgeport, CT | $4,760,394 | $9,171,396 |