Elgin Charter School Initiative
- Assets
- $11.5m
- Revenue
- $5.8m
- Investments
- $0.0
- Employees
- 50
- Location
- Elgin, IL
- Founding
- 04/2014
- Data as of
- 06/2022
- EIN
- 45-4971554
Organization Overview
Elgin Charter School Initiative, operating under the name Elgin Math And Science Academy, is located in Elgin, IL. The organization was established in 2014. 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, Elgin Math And Science Academy employed 50 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Elgin Math And Science 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, Elgin Math And Science Academy generated $5.8m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 73.9% each year . All expenses for the organization totaled $5.5m during the year ending 06/2022. 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
AT ELGIN MATH AND SCIENCE ACADEMY (EMSA), STUDENTS AND TEACHERS WILL REACH THEIR HIGHEST POTENTIAL THROUGH ACTIVE EXPLORATORY LEARNING AND SOCIAL RESPONSIBILITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ELGIN MATH & SCIENCE ACADEMY (EMSA) IS A TUITION-FREE PUBLIC CHARTER SCHOOL THAT OPENED IN AUGUST 2018. EMSA OPENED WITH APPROXIMATELY 200 STUDENTS IN KINDERGARTEN THROUGH THIRD GRADE. THE SCHOOL EXPECTS TO ADD ONE GRADE LEVEL EACH YEAR UNTIL REACHING APPROXIMATELY 468 STUDENTS IN KINDERGARTEN THROUGH EIGHTH GRADE. DURING THE FISCAL YEAR ENDED JUNE 30, 2020 EMSA ADDED GRADE 5. DURING THE FISCAL YEAR ENDED JUNE 30, 2021 STUDENT ENROLLMENT WAS 364 STUDENTS. EMSA CHOOSES A CURRICULUM THAT WILL EQUITABLY MEET THE NEEDS OF THE WHOLE CHILD, WITH RIGOROUS MATH, LITERACY, SCIENCE, AND SOCIAL-EMOTIONAL DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dan Alexander Chief Operating Officer | 40 | $102,752 | |
Gary Swick Board Member, Co-Chair | OfficerTrustee | 20 | $0 |
Melanie Gibb Vice President | OfficerTrustee | 15 | $0 |
Doree Haight Secretary | OfficerTrustee | 15 | $0 |
Adam Gray Treasurer | OfficerTrustee | 2.5 | $0 |
Bethea Lane Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,715,351 |
| All other contributions, gifts, grants, and similar amounts not included above | $50,276 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,765,627 |
| Total Program Service Revenue | $42,238 |
| Investment income | $2,977 |
| 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 | $5,817,869 |
| 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 | $2,424,563 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $407,260 |
| Payroll taxes | $105,422 |
| Fees for services: Management | $0 |
| 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 | $0 |
| Advertising and promotion | $19,099 |
| Office expenses | $21,140 |
| Information technology | $172,524 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $153 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $346,839 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $254,154 |
| Insurance | $36,421 |
| All other expenses | $104,340 |
| Total functional expenses | $5,501,310 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $969,895 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $218,568 |
| 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 | $98,514 |
| Net Land, buildings, and equipment | $10,238,601 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $20,567 |
| Total assets | $11,546,145 |
| Accounts payable and accrued expenses | $529,828 |
| Grants payable | $0 |
| Deferred revenue | $26,585 |
| 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 | $7,350,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $55,854 |
| Total liabilities | $7,962,267 |
| Net assets without donor restrictions | $3,475,843 |
| Net assets with donor restrictions | $108,035 |
| 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 | $11,546,145 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Elgin Charter School Initiative has recieved totaling $185.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $185 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Seeds Of Health Milwaukee, WI | $21,433,274 | $18,248,715 |
Ewing Marion Kauffman School Inc Kansas City, MO | $12,328,924 | $22,686,630 |
Hmong American Peace Academy Ltd Milwaukee, WI | $62,055,663 | $22,180,285 |
Crossroads Charter Schools Kansas City, MO | $14,061,355 | $16,288,564 |
Career Academy Of South Bend Inc South Bend, IN | $28,812,268 | $15,770,291 |
Southland College Prep Charter School Inc Richton Park, IL | $5,970,929 | $14,846,011 |
21st Century Charter School At Gary Inc Indianapolis, IN | $16,296,159 | $15,193,404 |
Avondale Meadows Academy Inc Indianapolis, IN | $23,354,036 | $14,362,990 |
Herron High School Inc Indianapolis, IN | $19,992,400 | $15,381,017 |
Tindley Accelerated Schools Inc Indianapolis, IN | $17,393,569 | $14,658,459 |
Lighthouse Academies Of Indiana Inc Indianapolis, IN | $16,035,849 | $15,931,838 |
Paramount School Of Excellence Incorporated Indianapolis, IN | $17,346,083 | $12,116,236 |