Harmel Academy Inc
- Assets
- $711.0k
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 11
- Location
- Grand Rapids, MI
- Founding
- 01/2018
- Data as of
- 06/2023
- EIN
- 82-0916401
Organization Overview
Harmel Academy Inc is located in Grand Rapids, MI. The organization was established in 2018. According to its NTEE Classification (B30) the organization is classified as: Vocational & Technical Schools, under the broad grouping of Education and related organizations. As of 06/2023, Harmel Academy Inc employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Harmel Academy 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 06/2023, Harmel Academy Inc generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 34.4% each year . All expenses for the organization totaled $1.4m 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
HARMEL ACADEMY OF THE TRADES IS A POST-SECONDARY INSTITUTION IN MICHIGAN WHERE MEN BECOME EXPERTS IN SKILLED TRADE WHILE GROWING IN THEIR CATHOLIC FAITH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HARMEL ACADEMY OF THE TRADES PROVIDES POST-SECONDARY TECHNICAL TRAINING IN SKILLED TRADES. THIS IS A TUITION-BASED ACADEMY THAT IS A RESIDENTIAL CATHOLIC TRADE SCHOOL FOR MEN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Michael Page Trustee | Trustee | 1 | $0 |
Michael Preston Trustee | Trustee | 1 | $0 |
Ryan Pohl Board President | OfficerTrustee | 1 | $0 |
David Michael Phelps President | OfficerTrustee | 40 | $86,021 |
David Faber Trustee | Trustee | 1 | $0 |
Brian Black Trustee | 40 | $45,232 |
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 | $870,572 |
| Noncash contributions included in lines 1a–1f | $5,686 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $870,572 |
| Total Program Service Revenue | $492,292 |
| Investment income | $29 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $1,479,606 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $37,519 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $231,254 |
| Compensation of current officers, directors, key employees. | $69,070 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $320,879 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $20,204 |
| Payroll taxes | $40,591 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,145 |
| Fees for services: Accounting | $37,311 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $66,420 |
| Advertising and promotion | $21,216 |
| Office expenses | $31,555 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $263,790 |
| Travel | $2,606 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,665 |
| Interest | $20,687 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $22,004 |
| Insurance | $5,992 |
| All other expenses | $2,540 |
| Total functional expenses | $1,393,665 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $68,082 |
| Savings and temporary cash investments | $546,730 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $18,798 |
| 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 | $4,450 |
| Net Land, buildings, and equipment | $64,449 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $8,500 |
| Other assets | $0 |
| Total assets | $711,009 |
| Accounts payable and accrued expenses | $19,741 |
| Grants payable | $0 |
| Deferred revenue | $8,000 |
| 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 | $580,941 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $608,682 |
| Net assets without donor restrictions | -$154,173 |
| Net assets with donor restrictions | $256,500 |
| 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 | $711,009 |