Lamad Academy Charter School
- Assets
- $1.0m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 37
- Location
- Brooklyn, NY
- Founding
- 01/2020
- Data as of
- 06/2022
- EIN
- 83-3026763
Organization Overview
Lamad Academy Charter School is located in Brooklyn, NY. The organization was established in 2020. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Lamad Academy Charter School employed 37 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lamad Academy Charter School 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, Lamad Academy Charter School generated $2.4m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 26.3% each year . All expenses for the organization totaled $2.7m during the year ending 06/2022. 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
LAMAD ACADEMY CHARTER SCHOOL'S MISSION IS TO PREPARE AND INSPIRE STUDENTS TO SUCCESSFULLY AND ENTHUSIASTICALLY PURSUE MATHEMATICS AND SCIENCE EDUCATON IN THEIR SECONDARY AND POST-SECONDARY CAREERS. WITH AMERICAN ECONOMIC AND NATIONAL SECUIRTY DEPENDENT ON THE DEVELOPMENT OF A SCIENTIFICALLY-TRAINED AND TECHNICALLY-SKILLED WORKFORCE, LAMAD ACADEMY WILL GRADUATE A CADRE OF SUCH FUTURE TALENT BY IMMERSING ITS STUDENTS IN AN ACADEMICALLY RIGOROUS STANDARD-BASED CURRICULUM WITH A PRINCIPAL EMPHASIS ON MATHEMATICS AND SCIENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LAMAD ACADEMY CHARTER SCHOOL PREPARES AND INSPIRES STUDENTS TO SUCCESSFULLY AND ENTHUSIASTICALLY PURSUE MATHEMATICS AND SCIENCE EDUCATON IN THEIR SECONDARY AND POST-SECONDARY CAREERS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alfred Cockfield CEO | Officer | 40 | $184,207 |
Frederick Alan Underwood Principal | Officer | 40 | $172,200 |
Paschal Ogechukwuka Ikeji Dir. Of Operat. | Officer | 40 | $99,896 |
Rubain Dorancy Board Chair | OfficerTrustee | 2 | $0 |
Adrian Brijadder Treasurer | OfficerTrustee | 2 | $0 |
Abenaa Frepong-Boadu Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Charter School Business Management Accounting | 6/29/22 | $107,258 |
Ac Interior Group Construction | 6/29/22 | $164,345 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $376,339 |
| All other contributions, gifts, grants, and similar amounts not included above | $86,000 |
| Noncash contributions included in lines 1a–1f | $4,888 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $462,339 |
| Total Program Service Revenue | $1,928,235 |
| Investment income | $11 |
| 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 | $2,390,585 |
| 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. | $470,000 |
| Compensation of current officers, directors, key employees. | $50,357 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,042,491 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $99,073 |
| Payroll taxes | $132,438 |
| 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 | $147,978 |
| Advertising and promotion | $0 |
| Office expenses | $41,007 |
| Information technology | $50,889 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $15,217 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $200,457 |
| Insurance | $41,086 |
| All other expenses | $8,637 |
| Total functional expenses | $2,674,437 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $139,455 |
| Savings and temporary cash investments | $6,377 |
| Pledges and grants receivable | $104,471 |
| 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 | $16,793 |
| Net Land, buildings, and equipment | $683,526 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $50,006 |
| Total assets | $1,000,628 |
| Accounts payable and accrued expenses | $195,394 |
| Grants payable | $0 |
| Deferred revenue | $223,590 |
| 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 | $437,000 |
| Other liabilities | $0 |
| Total liabilities | $855,984 |
| Net assets without donor restrictions | $144,644 |
| 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 | $1,000,628 |