Verano Learning Partners
- Assets
- $55.1m
- Revenue
- $4.4m
- Investments
- $611.2k
- Employees
- 11
- Location
- Goodyear, AZ
- Founding
- 12/2003
- Data as of
- 06/2021
- EIN
- 86-1017522
Organization Overview
Verano Learning Partners is located in Goodyear, AZ. The organization was established in 2003. 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, Verano Learning Partners employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Verano Learning Partners 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, Verano Learning Partners generated $4.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $7.0m during the year ending 06/2021. While expenses have increased by 9.3% per year over the past 7 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
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION CONDUCTED VARIOUS STUDIES AND DUE DILIGENCE ACTIVITES TO ESTABLISH THE SPRINGBOARD FROM WHICH TO LAUNCH ITS VISION FOR NATIONWIDE SCHOOLS, INCLUDING EXPLORING AND EXECUTING THE APPLICATION PROCESS FOR INNOVATIVE SCHOOLS IN VARIOUS STATES.
THE ORGANIZATION OPERATES FOUR SCHOOLS AS PART OF ITS VISION TO OPERATE INNOVATIVE SCHOOLS BOTH INTERNATIONALLY AND LOCALLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Seth Mckinzie Chief Development Officer | Officer | 40 | $223,554 |
Chase Eskelsen Chief Of Staff | Officer | 40 | $185,179 |
Gary Bae Consultant | 40 | $142,415 | |
Timothy Moran VP Of Public Affairs | 40 | $136,345 | |
Damian Creamer President | OfficerTrustee | 10 | $100,500 |
Mike Steck Director | Trustee | 10 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cable Solutions Llc Construction | 6/29/17 | $149,879 |
Chasse Building Team Construction | 6/29/17 | $2,003,753 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,165,233 |
| Investment income | $885,212 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,040,875 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,366,746 |
| 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. | $787,993 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,125,138 |
| Pension plan accruals and contributions | $117,482 |
| Other employee benefits | $123,885 |
| Payroll taxes | $126,327 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $80,002 |
| Fees for services: Accounting | $14,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $159,844 |
| Fees for services: Other | $623,182 |
| Advertising and promotion | $469,552 |
| Office expenses | $170,171 |
| Information technology | $1,852,703 |
| Royalties | $0 |
| Occupancy | $244,644 |
| Travel | $67,153 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $169,859 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $288,117 |
| Insurance | $70,322 |
| All other expenses | $0 |
| Total functional expenses | $7,033,119 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,636,413 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $298,230 |
| 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 | $2,000 |
| Investments—publicly traded securities | $41,818,604 |
| Investments—other securities | $611,194 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $55,075,563 |
| Accounts payable and accrued expenses | $2,627,520 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $4,883,353 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $7,510,873 |
| 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 | $47,564,690 |
Grants Awarded
Over the last fiscal year, Verano Learning Partners has awarded $313,500 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: TRANSITION EDUCATION FOR NAVY SEALS | $263,500 |
Arlington, VA PURPOSE: SPONSER ANNUAL CONFERENCE | $25,000 |
Phoenix, AZ PURPOSE: SUPPORT ABUSED CHILDREN | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Partnerships To Uplift Communities Los Angeles Burbank, CA | $14,420,401 | $24,912,837 |
Literacy First Charter Schools El Cajon, CA | $29,290,072 | $23,446,904 |
Voices College-Bound Language Academies San Jose, CA | $26,350,864 | $21,078,147 |
Santa Rosa Academy Incorporated Menifee, CA | $46,198,054 | $16,730,823 |
Siatech Inc Oceanside, CA | $9,582,548 | $15,818,647 |
Grow Public Schools Bakersfield, CA | $14,803,093 | $23,549,288 |
Natomas Charter School Sacramento, CA | $32,806,693 | $20,875,289 |
Arizona Community Development Corporation Tucson, AZ | $20,473,547 | $20,902,974 |
Vista Charter Public Schools Los Angeles, CA | $62,725,425 | $20,964,484 |
Roseland Charter School Santa Rosa, CA | $53,872,700 | $25,562,169 |
Ofl William S Hart Inc Pasadena, CA | $11,952,405 | $20,153,084 |
New Designs Charter School Los Angeles, CA | $56,545,069 | $20,507,111 |