Inner City Education Foundation
- Assets
- $33.3m
- Revenue
- $41.8m
- Investments
- $0.0
- Employees
- 323
- Location
- Los Angeles, CA
- Founding
- 05/1996
- Data as of
- 06/2021
- EIN
- 95-4548521
Organization Overview
Inner City Education Foundation, operating under the name Icef Public Schools, is located in Los Angeles, CA. The organization was established in 1996. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 06/2021, Icef Public Schools employed 323 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Icef Public 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 06/2021, Icef Public Schools generated $41.8m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.2%) each year. All expenses for the organization totaled $34.2m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (3.5%) per year over the past 6 years. 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
TO PREPARE ALL STUDENTS TO ATTEND AND COMPETE AT THE TOP 100 UNIVERSITIES IN THE NATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ICEF PUBLIC SCHOOLS OPERATES 7 CHARTER SCHOOLS THAT PROVIDE CLASSROOM BASED INSTRUCTION INCLUDING MUSIC AND ART EDUCATION FOR STUDENTS IN GRADES K THROUGH 12. SERVING APPROXIMATELY 2,380 STUDENTS, ICEF SCHOOLS ARE LOCATED IN A NEIGHBORHOOD WITH LOW PERFORMING TRADITIONAL SCHOOLS IN LOS ANGELES. THE PERFORMANCE OF ICEF IS WELL ABOVE THE PERFORMANCE OF THE NEIGHBORING DISTRICT SCHOOLS. ICEF'S EDUCATIONAL PROGRAM CONSISTS OF FIVE ESSENTIAL ELEMENTS: (1) COLLEGE GOING CULTURE (2) COLLEGE STUDY HABITS (3) CURRICULUM BACKWARD MAPPED FROM COLLEGE STANDARDS (4) COLLEGE STYLE DISCOURSE, AND (5) COLLEGE LEVEL ANALYTICAL WRITING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Parker Hudnut CEO | Officer | 40 | $259,710 |
Ryan Gomez Chief School Officer | 40 | $159,534 | |
Shuron Owens- Lincoln Chief Academic Officer | 40 | $154,417 | |
Charles Lemle Principal | 40 | $121,137 | |
Akeysha Allen-Goods Principal | 40 | $117,630 | |
Stuart Krohn Rugby Director | 40 | $107,535 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Better 4 You Meals Inc School Food Services Vendor | 6/29/20 | $1,287,481 |
Good Sports Plus Ltd Dba Arc Afterschool Service Provider | 6/29/20 | $877,276 |
Anderson Air Conditioning Ams Hvac Servicing Repair & Maintenance | 6/29/20 | $646,429 |
Anderson Air Conditioning Ams Hvac Servicing Repair & Maintenance | 6/29/20 | $646,429 |
Good Sports Plus Ltd Dba Arc Afterschool Service Provider | 6/29/20 | $877,276 |
Excellent Education Development Accounting Services And Back Office Supp | 6/29/20 | $507,842 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $40,835,466 |
| All other contributions, gifts, grants, and similar amounts not included above | $924,422 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $41,759,888 |
| Total Program Service Revenue | $0 |
| 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 | $41,820,831 |
| 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. | $303,898 |
| Compensation of current officers, directors, key employees. | $303,898 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $15,995,426 |
| Pension plan accruals and contributions | $2,236,331 |
| Other employee benefits | $2,079,507 |
| Payroll taxes | $527,487 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $63,625 |
| Fees for services: Accounting | $36,738 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,865,115 |
| Advertising and promotion | $115,063 |
| Office expenses | $537,721 |
| Information technology | $421,325 |
| Royalties | $0 |
| Occupancy | $3,915,716 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $119,022 |
| Interest | $79,983 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $271,576 |
| Insurance | $369,624 |
| All other expenses | $0 |
| Total functional expenses | $34,232,189 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,538,929 |
| Savings and temporary cash investments | $360,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,607,447 |
| 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 | $364,822 |
| Net Land, buildings, and equipment | $3,473,526 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,200 |
| Total assets | $33,345,924 |
| Accounts payable and accrued expenses | $3,055,583 |
| Grants payable | $0 |
| Deferred revenue | $2,602,917 |
| 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 | $2,366,523 |
| Other liabilities | $0 |
| Total liabilities | $8,025,023 |
| Net assets without donor restrictions | $24,931,188 |
| Net assets with donor restrictions | $389,713 |
| 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 | $33,345,924 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Inner City Education Foundation has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Carolyn And Michael M Minchin Jr Foundation Los Angeles, CA PURPOSE: CHARITABLE | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kipp Bay Area Schools Oakland, CA | $172,487,625 | $112,257,587 |
Somerset Academy Of Las Vegas Las Vegas, NV | $192,795,065 | $79,621,443 |
High Tech High San Diego, CA | $58,788,634 | $76,672,129 |
Menlo School Atherton, CA | $320,152,000 | $64,317,000 |
Oaks Christian School Westlake Village, CA | $150,419,760 | $62,594,014 |
Summit Public Schools Redwood City, CA | $48,530,707 | $55,546,203 |
El Camino Real Alliance Woodland Hills, CA | $34,397,207 | $53,776,806 |
Milken Community Schools Los Angeles, CA | $80,759,256 | $40,537,524 |
Windward School Los Angeles, CA | $106,329,646 | $41,804,232 |
Orange County School Of The Arts Santa Ana, CA | $14,647,557 | $49,463,330 |
Inner City Education Foundation Los Angeles, CA | $33,345,924 | $41,820,831 |
Crystal Springs Uplands School Hillsborough, CA | $136,020,158 | $40,020,241 |