Futuro Academy Incorporated
- Assets
- $10.7m
- Revenue
- $5.4m
- Investments
- $0.0
- Employees
- 51
- Location
- Las Vegas, NV
- Founding
- 06/2016
- Data as of
- 06/2023
- EIN
- 81-0731066
Organization Overview
Futuro Academy Incorporated is located in Las Vegas, NV. The organization was established in 2016. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2023, Futuro Academy Incorporated employed 51 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Futuro Academy Incorporated 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 06/2023, Futuro Academy Incorporated generated $5.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 30.6% each year . All expenses for the organization totaled $6.3m during the year ending 06/2023. 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
TO EDUCATE ALL SCHOLARS TO EXCEL THROUGH GRADE SCHOOL, AND INTO THE UNIVERSITY OF THEIR CHOICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDED EDUCATION TO APPROXIMATELY 460 STUDENTS IN KINDERGARTEN THROUGH FOURTH GRADE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chelsea Prado Teacher Representative | Trustee | 40 | $59,998 |
John Pictum President | OfficerTrustee | 2 | $0 |
Ela Maria Garcia Secretary | OfficerTrustee | 2 | $0 |
Jennifer Roberts Treasurer | OfficerTrustee | 2 | $0 |
David Dzarnoski Trustee | Trustee | 2 | $0 |
Richard Manhattan Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,199,717 |
| All other contributions, gifts, grants, and similar amounts not included above | $106,368 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,306,085 |
| 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 | $0 |
| Net Income from Fundraising Events | $7,430 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,360,916 |
| 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. | $254,211 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,010,064 |
| Pension plan accruals and contributions | $1,099,499 |
| Other employee benefits | $320,539 |
| Payroll taxes | $0 |
| 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 | $438,877 |
| Advertising and promotion | $7,467 |
| Office expenses | $127,871 |
| Information technology | $264,492 |
| Royalties | $0 |
| Occupancy | $320,116 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $309,364 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $636,590 |
| Insurance | $41,162 |
| All other expenses | $0 |
| Total functional expenses | $6,252,945 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $870,369 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $634,395 |
| 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 | $30,650 |
| Net Land, buildings, and equipment | $5,660,250 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,489,110 |
| Total assets | $10,684,774 |
| Accounts payable and accrued expenses | $155,658 |
| Grants payable | $0 |
| Deferred revenue | $120,522 |
| 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 | $5,828,010 |
| Other liabilities | $5,248,997 |
| Total liabilities | $11,353,187 |
| Net assets without donor restrictions | -$743,815 |
| Net assets with donor restrictions | $75,402 |
| 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 | $10,684,774 |