Accelerated Intermediate Academy
- Assets
- $21.6m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 29
- Location
- Houston, TX
- Founding
- 02/2001
- Data as of
- 08/2023
- EIN
- 76-0635860
Organization Overview
Accelerated Intermediate Academy is located in Houston, TX. The organization was established in 2001. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 08/2023, Accelerated Intermediate Academy employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Accelerated Intermediate 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 08/2023, Accelerated Intermediate Academy generated $1.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (12.2%) each year. All expenses for the organization totaled $2.3m during the year ending 08/2023. 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
PROVIDE EDUCATIONAL SERVICES TO STUDENTS WHO ARE AT RISK OF DROPPING OUT OF THE TRADITIONAL EDUCATIONAL SYSTEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTIONS AND INSTRUCTION RELATED SERVICE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Broadmax President | OfficerTrustee | 1 | $0 |
Derek Gilmore Vice President | OfficerTrustee | 1 | $0 |
Kevin Hicks Executive Director | OfficerTrustee | 60 | $277,627 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,428,818 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,428,818 |
| 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 | -$1,283,176 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,145,642 |
| 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. | $277,627 |
| Compensation of current officers, directors, key employees. | $92,533 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $703,706 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $92,099 |
| Payroll taxes | $17,692 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $28,940 |
| 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 | $490,671 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $15,648 |
| 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 | $94,342 |
| Insurance | $23,742 |
| All other expenses | $1,384 |
| Total functional expenses | $2,335,156 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $11,218,187 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $149,222 |
| 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 | $10,281,431 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $21,648,840 |
| Accounts payable and accrued expenses | $478,355 |
| 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 | $0 |
| Total liabilities | $478,355 |
| Net assets without donor restrictions | $2,585,871 |
| Net assets with donor restrictions | $18,584,614 |
| 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 | $21,648,840 |