Elite Academic Academy - Lucerne
- Assets
- $2.3m
- Revenue
- $8.4m
- Investments
- $0.0
- Employees
- 79
- Location
- Temecula, CA
- Founding
- 06/2019
- Data as of
- 06/2022
- EIN
- 82-4453363
Organization Overview
Elite Academic Academy - Lucerne is located in Temecula, CA. The organization was established in 2019. 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, Elite Academic Academy - Lucerne employed 79 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Elite Academic Academy - Lucerne 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, Elite Academic Academy - Lucerne generated $8.4m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 31.8% each year . All expenses for the organization totaled $8.3m during the year ending 06/2022. While expenses have increased by 29.2% per year over the past 4 years. They've been increasing with an increasing level of total revenue. 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
OPERATION OF A CHARTER SCHOOL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ELITE ACADEMIC ACADEMY - LUCERNE IS A CALIFORNIA PUBLIC BENEFIT CORPORATION THAT WAS ORGANIZED TO MANAGE AND OPERATE AN ONLINE K-12 PUBLIC CHARTER SCHOOL. THE SCHOOL PROVIDES A PERSONALIZED LEARNING EXPERIENCE FOR APPROXIMATELY 675 STUDENTS THROUGHOUT THE SOUTHERN CALIFORNIA REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Mcdougal President | OfficerTrustee | 0.25 | $3,300 |
Cody Simms Vice President | OfficerTrustee | 0.25 | $2,700 |
Kent Christensen Treasurer | OfficerTrustee | 0.25 | $3,300 |
Meghan Freeman CEO | Officer | 40 | $313,120 |
Laura Spencer Director Of Academic Innov | 40 | $168,604 | |
Ashlea Kirkland Director Of Student Development | 40 | $149,811 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Prime Educational Solutions Back Office Provider | 6/29/22 | $1,115,377 |
Flipswitch Marketing Llc Student Enrichment Services | 6/29/22 | $249,742 |
Mccolgan & Associates Inc Special Education Services | 6/29/22 | $202,000 |
Rainbow Resource Center Student Enrichment Services | 6/29/22 | $117,584 |
Elite Spirit Cheer Student Enrichment Services | 6/29/22 | $108,480 |
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 | $8,345,706 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,345,706 |
| 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 | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,355,892 |
| 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. | $385,102 |
| Compensation of current officers, directors, key employees. | $74,063 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,491,299 |
| Pension plan accruals and contributions | $471,372 |
| Other employee benefits | $295,285 |
| Payroll taxes | $126,235 |
| Fees for services: Management | $200,581 |
| Fees for services: Legal | $26,287 |
| Fees for services: Accounting | $12,390 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,641,041 |
| Advertising and promotion | $175,237 |
| Office expenses | $74,632 |
| Information technology | $248,356 |
| Royalties | $0 |
| Occupancy | $85,628 |
| Travel | $17,759 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $43,156 |
| Interest | $35,094 |
| Payments to affiliates | $12,300 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $8,322,388 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $407,508 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,251,532 |
| Accounts receivable, net | $0 |
| 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 | $471,019 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $184,285 |
| Total assets | $2,314,344 |
| Accounts payable and accrued expenses | $430,943 |
| Grants payable | $0 |
| Deferred revenue | $178,887 |
| 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 | $318,494 |
| Other liabilities | $0 |
| Total liabilities | $928,324 |
| Net assets without donor restrictions | $1,386,020 |
| 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 | $2,314,344 |