Hope Academy Northcoast
- Assets
- $2.6m
- Revenue
- $5.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Cleveland, OH
- Founding
- 08/2009
- Data as of
- 06/2023
- EIN
- 35-2167230
Organization Overview
Hope Academy Northcoast 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hope Academy Northcoast 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, Hope Academy Northcoast generated $5.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.7% each year. All expenses for the organization totaled $5.6m during the year ending 06/2023. While expenses have increased by 8.0% per year over the past 8 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
OUR MISSION IS TO EMPOWER STUDENTS TO REACH THEIR FULLEST POTENTIAL BY IMPLEMENTING A COMPREHENSIVE CURRICULUM FACILITATED BY HIGHLY EFFECTIVE EDUCATORS IN COLLABORATION WITH FAMILIES AND THE COMMUNITY, AND SUPPORTED BY PROGRESSIVE TECHNOLOGY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR STUDENTS ARE ON A PATH TOWARD COLLEGE AND CAREER. WE HAVE HIGH EXPECTATIONS FOR OUR STUDENTS AND OFFER A HIGH LEVEL OF SUPPORT TO HELP CHILDREN REACH THEIR FULL POTENTIAL. WE INDIVIDUALIZE LEARNING BASED ON REGULAR ANALYSIS OF STUDENT PROGRESS THROUGHOUT EACH SCHOOL YEAR, AND OUR STUDENTS ARE SUCCESSFUL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Clifford King Board Member | Trustee | 1 | $1,560 |
Dorothy Curtis Board Member | Trustee | 1 | $1,560 |
Elaine Vance Board President | Trustee | 2 | $1,500 |
Brenda Dixon Board Member | Trustee | 1 | $1,500 |
Juanita Williams Reynolds Board Member | Trustee | 1 | $1,310 |
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 | $5,824,676 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,824,676 |
| 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 | $5,824,676 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $380,406 |
| Payroll taxes | $0 |
| Fees for services: Management | $2,650,401 |
| Fees for services: Legal | $24,906 |
| Fees for services: Accounting | $29,860 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,819,281 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $133,152 |
| Insurance | $7,889 |
| All other expenses | $0 |
| Total functional expenses | $5,560,947 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $371,677 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $315,338 |
| Accounts receivable, net | $46,569 |
| 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 | $0 |
| Net Land, buildings, and equipment | $601,383 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,247,233 |
| Total assets | $2,582,200 |
| Accounts payable and accrued expenses | $432,692 |
| 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 | $0 |
| Other liabilities | $3,033,716 |
| Total liabilities | $3,466,408 |
| Net assets without donor restrictions | -$884,208 |
| 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 | $2,582,200 |