Swift Learning Center Inc
- Assets
- $11.1m
- Revenue
- $5.2m
- Investments
- $0.0
- Employees
- 74
- Location
- Roswell, GA
- Founding
- 12/1999
- Data as of
- 06/2021
- EIN
- 58-2410129
Organization Overview
Swift Learning Center Inc, operating under the name The Swift School Inc, is located in Roswell, GA. The organization was established in 1999. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2021, Swift School Inc employed 74 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Swift School Inc 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 06/2021, Swift School Inc generated $5.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (12.2%) each year. All expenses for the organization totaled $4.8m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (4.5%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PREPARE CHILDREN WITH DYSLEXIA AND RELATED LANGUAGE-BASED LEARNING DIFFERENCES TO BE SUCCESSFUL IN LIFE. WE WILL STRIVE TO ACCOMPLISH THIS MISSION BY TEACHING THEM SPECIFIC LEARNING STRATEGIES AND BY IDENTIFYING AND FULLY DEVELOPING THEIR TALENTS. TO DO SO WE WILL CREATE AN ENVIRONMENT THAT IS EXCITING, CHALLENGING, AND SUPPORTING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATING CHILDREN WITH MILD TO MODERATE LEARNING DIFFICULTIES IN READING, SPELLING, WRITING, PHONEME AWARENESS, AND LANGUAGE PROCESSING/EXPRESSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Foltz Associate Head Of School - Fin And Ops | Officer | 55 | $155,715 |
Chris Pomar Executive Director | Officer | 55 | $141,080 |
Scott Frank Trustee And Chairman | OfficerTrustee | 5 | $0 |
Jeffery Kudlata Vice Chairman - Secretary | OfficerTrustee | 3 | $0 |
Michael Wright Treasurer | OfficerTrustee | 3 | $0 |
Scott Conner Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $5,684 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $682,130 |
| All other contributions, gifts, grants, and similar amounts not included above | $145,052 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $832,866 |
| Total Program Service Revenue | $4,328,942 |
| Investment income | $11,456 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,925 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,175,189 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $120,043 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $475,873 |
| Compensation of current officers, directors, key employees. | $475,873 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,553,832 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $248,963 |
| Payroll taxes | $230,920 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,721 |
| Fees for services: Accounting | $27,141 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $74,029 |
| Advertising and promotion | $22,640 |
| 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 | $230,546 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $207,553 |
| Insurance | $49,681 |
| All other expenses | $117,540 |
| Total functional expenses | $4,812,168 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,210,473 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $64,009 |
| Accounts receivable, net | $2,463 |
| 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 | $43,134 |
| Net Land, buildings, and equipment | $3,795,016 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,115,095 |
| Accounts payable and accrued expenses | $203,699 |
| Grants payable | $0 |
| Deferred revenue | $2,772,020 |
| 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 | $3,165,397 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $370,747 |
| Total liabilities | $6,511,863 |
| Net assets without donor restrictions | $4,540,100 |
| Net assets with donor restrictions | $63,132 |
| 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 | $11,115,095 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Swift Learning Center Inc has recieved totaling $48,980.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $28,980 |
Winston-Salem Foundation Winstonsalem, NC PURPOSE: 1 GRANT(S) FOR VARYING PURPOSES | $10,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $6,500 |
Pfizer Foundation Inc New York, NY PURPOSE: MATCHING GIFTS | $2,000 |
Pfizer Foundation Inc New York, NY PURPOSE: MATCHING GIFTS | $1,500 |
Endowment Analysis
| Beg. Balance | $65,391 |
| Other Expense | $2,259 |
| Ending Balance | $63,132 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ashley Hall Foundation Charleston, SC | $53,552,404 | $18,962,378 |
Canterbury School Corporation Fort Myers, FL | $32,236,169 | $23,638,435 |
Heathwood Hall Episcopal School Columbia, SC | $39,181,921 | $20,445,816 |
Brookstone School Inc Columbus, GA | $71,035,506 | $24,481,396 |
Greenville Renewable Energy Education Charter School Greenville, SC | $26,163,515 | $17,750,984 |
Lincoln Charter School Inc Denver, NC | $10,014,512 | $18,722,799 |
The Masters Academy Of Central Florida Inc Oviedo, FL | $26,482,967 | $18,246,673 |
Savannah Christian Preparatory School Inc Savannah, GA | $28,769,990 | $18,697,901 |
Saint Edwards School Vero Beach, FL | $54,149,022 | $17,250,987 |
Capstone Education Group Inc Memphis, TN | $24,521,664 | $20,250,688 |
Strong Rock Christian School Inc Locust Grove, GA | $18,179,980 | $18,285,975 |
Fellowship Christian School Inc Roswell, GA | $48,536,188 | $18,034,878 |