The Accelerated Schools
- Assets
- $102.5m
- Revenue
- $25.5m
- Investments
- $29.8m
- Employees
- 0
- Location
- Los Angeles, CA
- Founding
- 03/2001
- Data as of
- 06/2022
- EIN
- 95-4487850
Organization Overview
The Accelerated Schools is located in Los Angeles, CA. The organization was established in 2001. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Accelerated Schools 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, Accelerated Schools generated $25.5m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.7%) each year. All expenses for the organization totaled $32.7m 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
THE ACCELERATED SCHOOLS WERE FOUNDED ON THE BELIEF THAT EVERY CHILD SHOULD BE TREATED AS GIFTED, WITH AN EMPHASIS ON HIGH EXPECTATIONS FOR STUDENT ACHIEVEMENT, A SUPPORTIVE LEARNING ENVIRONMENT, AND EXTENSIVE PARENT INVOLVEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION OPERATES THREE CHARTER SCHOOLS; THE ACCELERATED SCHOOL (TAS), ACCELERATED ELEMENTARY CHARTER SCHOOL (ACES), AND WALLIS ANNENBERG HIGH SCHOOL (WAHS). TAS CURRENTLY SERVES APPROXIMATELY 732 STUDENTS IN GRADES KINDERGARTEN THROUGH EIGHT. ACES CURRENTLY SERVES APPROXIMATELY 492 STUDENTS IN GRADES TRANSITIONAL KINDERGARTEN THROUGH SIX. WAHS CURRENTLY SERVES APPROXIMATELY 493 STUDENTS IN GRADES NINE THROUGH TWELVE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Grace Lee-Chang CEO | Officer | 40 | $210,193 |
Robert Canosa-Carr Dir Of Secondary Education | 40 | $163,073 | |
Burgandie Montoya Wahs Principal | 40 | $156,151 | |
Robert French Dir Of Human Resources | 40 | $149,146 | |
Lenita Lugo Director Of Curriculum And | 40 | $142,517 | |
Francis Reading Director Of Elementary Education | 40 | $141,644 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Law Offices Of Young Minney & Corr Llp Legal Services | 6/29/22 | $174,410 |
Liebert Cassidy Whitmore Legal Services | 6/29/22 | $119,589 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $27,200,643 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,556,236 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $28,756,879 |
| Total Program Service Revenue | $0 |
| Investment income | $668,994 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$3,890,711 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $25,535,162 |
| 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. | $240,551 |
| Compensation of current officers, directors, key employees. | $240,551 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $13,834,324 |
| Pension plan accruals and contributions | $1,938,918 |
| Other employee benefits | $0 |
| Payroll taxes | $2,972,389 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $242,713 |
| Fees for services: Accounting | $18,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,233,395 |
| Advertising and promotion | $26,797 |
| Office expenses | $65,079 |
| Information technology | $168,980 |
| Royalties | $0 |
| Occupancy | $1,214,866 |
| Travel | $34,749 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $175,024 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,070,381 |
| Insurance | $179,857 |
| All other expenses | $590,142 |
| Total functional expenses | $32,710,705 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,401,981 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,390,298 |
| 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 | $123,867 |
| Net Land, buildings, and equipment | $66,796,778 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $29,753,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $102,465,924 |
| Accounts payable and accrued expenses | $1,187,544 |
| 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 | $9,361,203 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,999,720 |
| Total liabilities | $13,548,467 |
| Net assets without donor restrictions | $88,917,457 |
| 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 | $102,465,924 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Accelerated Schools has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Rocketship Education Redwood City, CA | $74,871,482 | $120,667,231 |
American Leadership Academy Inc Mesa, AZ | $282,415,478 | $95,654,658 |
Five Keys Schools And Programs San Francisco, CA | $50,545,317 | $97,031,582 |
Inspire Charter Schools Duarte, CA | $15,814,456 | $76,018,441 |
Edkey Inc Mesa, AZ | $135,819,543 | $83,812,049 |
River Springs Charter School Inc Temecula, CA | $93,652,592 | $73,899,584 |
Granada Hills Charter Granada Hills, CA | $124,597,337 | $79,128,584 |
California Online Public Schools San Juan Capistrano, CA | $32,661,705 | $70,303,969 |
Camino Nuevo Charter Academy Los Angeles, CA | $62,441,915 | $60,583,098 |
Gateway Community Charters Mcclellan, CA | $96,780,042 | $72,531,964 |
Visions In Education Carmichael, CA | $94,876,505 | $77,038,173 |
Ofl-Baldwin Park Inc Pasadena, CA | $26,446,895 | $59,505,291 |