Einstein Academy
- Assets
- $2.2m
- Revenue
- $735.4k
- Investments
- $0.0
- Employees
- 22
- Location
- Elgin, IL
- Founding
- 10/2002
- Data as of
- 06/2022
- EIN
- 61-1413612
Organization Overview
Einstein Academy is located in Elgin, IL. The organization was established in 2002. 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 06/2022, Einstein Academy employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Einstein 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, Einstein Academy generated $735.4k in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $718.7k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (5.2%) per year over the past 4 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPLEMENT AN INDIVIDUALIZED AND NURTURING PROGRAM THAT PROVIDES GIFTED AND TALENTED STUDENTS WITH SKILLS AND KNOWLEDGE NECESSARY TO BECOME PRODUCTIVE MEMBERS OF SOCIETY
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL PROGRAM AND SCHOOL CONSISTING OF STUDENTS, GRADES PRE-SCHOOL THROUGH TWELFTH GRADE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cathryn Iliani President | OfficerTrustee | 0.5 | $0 |
Brad Bolerjack Secretary | OfficerTrustee | 0.1 | $0 |
Al Neil Treasurer | OfficerTrustee | 0.1 | $0 |
Ezra Iliani Vice President | OfficerTrustee | 0.1 | $0 |
Shawn Kumar Member | Trustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $110,015 |
| All other contributions, gifts, grants, and similar amounts not included above | $63,661 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $173,676 |
| Total Program Service Revenue | $557,533 |
| 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 | $3,660 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $735,439 |
| 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 | $391,688 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $16,253 |
| Payroll taxes | $28,193 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,269 |
| 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 | $1,083 |
| Office expenses | $5,357 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $61,830 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $92 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $65,875 |
| Insurance | $29,173 |
| All other expenses | $29,659 |
| Total functional expenses | $718,724 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $476,502 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $110,015 |
| Accounts receivable, net | $6,850 |
| 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 | $1,558,830 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,152,197 |
| Accounts payable and accrued expenses | $70,051 |
| 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 | $2,981,844 |
| Secured mortgages and notes payable | $499,900 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $82,815 |
| Total liabilities | $3,634,610 |
| Net assets without donor restrictions | -$1,482,413 |
| 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 | $2,152,197 |