Metro Tech Academy
- Assets
- $230.3k
- Revenue
- $588.7k
- Investments
- $0.0
- Employees
- 10
- Location
- Minneapolis, MN
- Founding
- Data as of
- 06/2021
- EIN
- 83-1904760
Organization Overview
Metro Tech Academy is located in Minneapolis, MN. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2021, Metro Tech Academy employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Metro Tech 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 06/2021, Metro Tech Academy generated $588.7k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 42.0% each year . All expenses for the organization totaled $616.7k during the year ending 06/2021. While expenses have increased by 51.8% per year over the past 3 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO CREATE PATHWAYS TO SUCCESS BY ENGAGING, MOTIVATING AND INSPIRING STUDENTS TO ACHIEVE ACADEMIC SUPREMACY THROUGH DIGITAL LITERACY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
METRO TECH ACADEMY COMPLETED ITS FIRST YEAR OF FULL OPERATION AS A GRADE K-6 PUBLIC CHARTER SCHOOL INSTITUTION. DURING THE 2020-2021 ACADEMIC YEAR, THE SCHOOL HAD APPROXIMATELY 100 ENROLLED STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hussein Farah Board Chair | OfficerTrustee | 2 | $0 |
Abubaker Jibril Treasurer | OfficerTrustee | 1 | $0 |
Najaax Barkhadle Secretary | OfficerTrustee | 1 | $0 |
Adan Ali Member | Trustee | 1 | $0 |
Ali Mohamed Member | Trustee | 1 | $0 |
Yusuf Waged School Director | Officer | 50 | $36,737 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $588,100 |
| 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 | $588,728 |
| Statement of Expenses | |
|---|---|
| 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. | $50,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $147,194 |
| Pension plan accruals and contributions | $23,545 |
| Other employee benefits | $20,256 |
| Payroll taxes | $17,462 |
| 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 | $139,550 |
| Advertising and promotion | $0 |
| Office expenses | $160 |
| Information technology | $26,276 |
| Royalties | $0 |
| Occupancy | $54,752 |
| Travel | $3,950 |
| 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 | $5,364 |
| Insurance | $8,947 |
| All other expenses | $0 |
| Total functional expenses | $616,668 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $25,894 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $88,403 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $81,126 |
| Total assets | $230,332 |
| Accounts payable and accrued expenses | $109,829 |
| Grants payable | $0 |
| Deferred revenue | $3,776 |
| 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 | $33,800 |
| Other liabilities | $81,269 |
| Total liabilities | $228,674 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $1,658 |