Celerity Global Development
- Assets
- $11.4m
- Revenue
- $8.3m
- Investments
- $0.0
- Employees
- 48
- Location
- Los Angeles, CA
- Founding
- 02/2015
- Data as of
- 06/2017
- EIN
- 45-5022412
Organization Overview
Celerity Global Development is located in Los Angeles, CA. The organization was established in 2015. According to its NTEE Classification (Q30) the organization is classified as: International Development, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 06/2017, Celerity Global Development employed 48 individuals. Celerity Global Development 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 06/2017, Celerity Global Development generated $8.3m in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 11.6% each year . All expenses for the organization totaled $8.8m during the year ending 06/2017. 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
2017
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE, SUPPORT, BENEFIT, REPLICATE AND CARRY OUT THE CELERITY EDUCATIONAL GROUP MODEL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE MANAGEMENT AND SUPPORT SERVICES TO CHARTER SCHOOLS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vielka Mcfarlane Board President & CEO | OfficerTrustee | 40 | $349,227 |
Teresita Charlton Board Member | Trustee | 2 | $0 |
Elizabeth Morales Board Member | Trustee | 2 | $0 |
Miguel Portillo Director Of Operations | 40 | $111,478 | |
Diana Macias Asst Director Of School Services | 40 | $107,408 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sevantco Education Business Management | 6/29/15 | $478,320 |
Csmc Business Management | 6/29/15 | $288,600 |
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 | $46,700 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $46,700 |
| Total Program Service Revenue | $8,186,360 |
| Investment income | $14,048 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $91,090 |
| 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 | $8,338,198 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $546,457 |
| 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. | $349,227 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,822,013 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $268,101 |
| Payroll taxes | $135,121 |
| 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 | $1,044,373 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $89,905 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $779,987 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $170,500 |
| All other expenses | $261,068 |
| Total functional expenses | $8,774,257 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,132,159 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,087,905 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $575,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,064 |
| Net Land, buildings, and equipment | $5,472,232 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $88,343 |
| Total assets | $11,358,703 |
| Accounts payable and accrued expenses | $6,335,072 |
| 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 | $2,821,236 |
| Other liabilities | $0 |
| Total liabilities | $9,156,308 |
| Unrestricted restricted net Assets | $2,202,395 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $2,202,395 |