Promesa Academy Inc
- Assets
- $17.4m
- Revenue
- $7.0m
- Investments
- $0.0
- Employees
- 65
- Location
- San Antonio, TX
- Founding
- 10/2017
- Data as of
- 06/2023
- EIN
- 82-2921031
Organization Overview
Promesa Academy Inc is located in San Antonio, TX. The organization was established in 2017. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 06/2023, Promesa Academy Inc employed 65 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Promesa 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, Promesa Academy Inc generated $7.0m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 51.7% each year . All expenses for the organization totaled $6.5m 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
PROVIDING HIGH QUALITY INSTRUCTION TO ENSURE EVERY KINDERGARTEN-FIFTH GRADE STUDENT HAS THE SKILLS AND KNOWLEDGE FOR MIDDLE AND HIGH SCHOOL SUCCESS, COLLEGE GRADUATION AND LIFE FILLED WITH OPPORTUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THROUGH RIGOROUS AND ENGAGING ACADEMICS, HIGH-QUALITY INSTRUCTION, AND A COMMITMENT TO EXCELLENCE IN ALL THAT WE DO, PROMESA ACADEMY CHARTER SCHOOL ENSURES EVERY KINDERGARTEN THROUGH FIFTH-GRADE STUDENT HAS THE SKILLS AND KNOWLEDGE FOR MIDDLE AND HIGH SCHOOL SUCCESS, COLLEGE GRADUATION, AND A LIFE FILLED WITH OPPORTUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ambika Dani Outgoing CEO | Officer | 40 | $116,052 |
Franco Cruz Board Member | Trustee | 2 | $0 |
Christopher Green Chair | OfficerTrustee | 2 | $0 |
Annie Hoffman Board Member | Trustee | 2 | $0 |
Basel Murad Board Member | Trustee | 2 | $0 |
Eliana Rodriguez Vice Chair | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Star Shuttle & Charter Transportation | 6/29/23 | $239,179 |
Aim Special Ed | 6/29/23 | $238,057 |
Ca Community Services Substitutes | 6/29/23 | $113,895 |
Bookreport Back Office Sup | 6/29/23 | $108,995 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,934,075 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,037,480 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,971,555 |
| Total Program Service Revenue | $45,333 |
| Investment income | $8,625 |
| 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 | $7,025,513 |
| 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. | $125,500 |
| Compensation of current officers, directors, key employees. | $125,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,099,641 |
| Pension plan accruals and contributions | $207,532 |
| Other employee benefits | $213,154 |
| Payroll taxes | $45,580 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,999 |
| Fees for services: Accounting | $14,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,048,006 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $29,938 |
| Royalties | $0 |
| Occupancy | $148,452 |
| Travel | $51,168 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $472,722 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $322,652 |
| Insurance | $30,140 |
| All other expenses | $0 |
| Total functional expenses | $6,479,135 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,536,489 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $754,553 |
| 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 | $6,974 |
| Net Land, buildings, and equipment | $13,028,668 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,067,620 |
| Total assets | $17,394,304 |
| Accounts payable and accrued expenses | $870,058 |
| Grants payable | $0 |
| Deferred revenue | $38,690 |
| 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 | $13,339,428 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,259,078 |
| Total liabilities | $15,507,254 |
| Net assets without donor restrictions | $1,575,975 |
| Net assets with donor restrictions | $311,075 |
| 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 | $17,394,304 |