Rochester Stem Academy Inc
- Assets
- $1.8m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 24
- Location
- Rochester, MN
- Founding
- 02/2012
- Data as of
- 06/2021
- EIN
- 90-0642816
Organization Overview
Rochester Stem Academy Inc is located in Rochester, MN. The organization was established in 2012. 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, Rochester Stem Academy Inc employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rochester Stem 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 06/2021, Rochester Stem Academy Inc generated $2.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 14.7% each year . All expenses for the organization totaled $2.3m during the year ending 06/2021. While expenses have increased by 10.4% per year over the past 6 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
THE MISSION OF ROCHESTER STEM ACADEMY IS TO PROVIDE A HIGHLY SUPPORTIVE LEARNING ENVIRONMENT FOR MINORITY, IMMIGRANT AND OTHER STUDENTS CURRENTLY UNDERSERVED IN TRADITIONAL (CONTINUED ON SCHEDULE O, STATEMENT 1)
Describe the Organization's Program Activity:
Part 3 - Line 4a
ROCHESTER STEM ACADEMY IS A TUITION-FREE PUBLIC CHARTER SCHOOL SERVING APPROXIMATELY 117 STUDENTS IN GRADES 9 THROUGH 12 FOR THE 2020-2021 SCHOOL YEAR. ROCHESTER STEM ACADEMY WAS BROUGHT TOGETHER IN RESPONSE TO DEMAND FOR AN ACADEMICALLY RIGOROUS CHARTER HIGH SCHOOL THAT COULD GIVE A VIABLE BOOST TO ROCHESTER'S INDUSTRIES AND CHILDREN IN TERMS OF BOTH ACADEMICS AND FUTURE EMPLOYMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charlene Ellingson Executive Director | Officer | 40 | $52,257 |
Daniel Zacharda Board Vice Chair/secretary | OfficerTrustee | 40 | $40,074 |
Mohamoud Hamud Board Chair | OfficerTrustee | 1 | $0 |
Abdulkadir Abdalla Board Treasurer | OfficerTrustee | 1 | $0 |
Subban Hassan Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rochester Math & Science Academy Transportation | 6/29/19 | $169,600 |
Munna Halal Food Service | 6/29/19 | $130,568 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,681,727 |
| All other contributions, gifts, grants, and similar amounts not included above | $28,199 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,709,926 |
| Total Program Service Revenue | $0 |
| Investment income | $491 |
| 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 | $2,710,417 |
| 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. | $154,525 |
| Compensation of current officers, directors, key employees. | $101,303 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $575,876 |
| Pension plan accruals and contributions | $61,991 |
| Other employee benefits | $93,247 |
| Payroll taxes | $55,468 |
| Fees for services: Management | $100,518 |
| Fees for services: Legal | $94,692 |
| Fees for services: Accounting | $65,967 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $114,099 |
| Advertising and promotion | $4,800 |
| Office expenses | $5,210 |
| Information technology | $59,902 |
| Royalties | $0 |
| Occupancy | $398,707 |
| Travel | $139,347 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,297 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,540 |
| Insurance | $16,451 |
| All other expenses | $0 |
| Total functional expenses | $2,290,607 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $234,183 |
| Savings and temporary cash investments | $476,684 |
| Pledges and grants receivable | $402,083 |
| 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 | $30,331 |
| Net Land, buildings, and equipment | $84,288 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $601,486 |
| Total assets | $1,829,055 |
| Accounts payable and accrued expenses | $325,096 |
| Grants payable | $0 |
| Deferred revenue | $10,800 |
| 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 | $0 |
| Other liabilities | $1,630,849 |
| Total liabilities | $1,966,745 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | -$221,978 |
| Paid-in or capital surplus, or land, building, or equipment fund | $84,288 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,829,055 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Seeds Of Health Milwaukee, WI | $21,433,274 | $18,248,715 |
Twin Cities International Schools Minneapolis, MN | $10,477,770 | $17,272,708 |
Eagle Ridge Academy Minnetonka, MN | $14,507,492 | $16,854,949 |
Lakes International Language Academy Forest Lake, MN | $12,188,611 | $15,744,589 |
Parnassus Preparatory School Maple Grove, MN | $11,987,253 | $16,239,729 |
Hmong American Peace Academy Ltd Milwaukee, WI | $62,055,663 | $22,180,285 |
Seven Hills Preparatory Academy Bloomington, MN | $12,008,176 | $15,420,403 |
St Croix Preparatory Academy Stillwater, MN | $15,400,325 | $14,730,120 |
Athlos Leadership Academy Brooklyn Park, MN | $8,310,126 | $14,353,758 |
Prairie Seeds Academy Brooklyn Park, MN | $11,928,237 | $14,361,129 |
Kipp Minnesota Minneapolis, MN | $9,470,276 | $14,681,951 |
Prodeo Academy Columbia Heights, MN | $7,923,634 | $13,232,357 |