Overview
What is First Academy Inc?
First Academy Inc, situated in Bloomfield, Connecticut, is a nonprofit organization that prioritizes the well-being of toddlers and children up to pre-kindergarten age, as well as offering summer programs. The organization's mission is to create a safe, nurturing, and developmentally suitable environment that encourages active learning and holistic growth for every child. With a focus on academic excellence, First Academy Inc strives to ensure the success of every child, fostering a diverse community in the process. Additionally, they provide before and after care for families, extending their support beyond the classroom. The organization operates with a team of 21 dedicated individuals.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 64%, earning it a Two-Star out of Four Star rating.
First Academy Inc has received a mixed rating of 64%, indicative of some strengths and notable weaknesses. The organization has a fully independent board, which is a positive sign for governance, and it maintains a high program expense ratio of 87.23%, demonstrating a commitment to using funds for its mission. Additionally, it has established several essential policies, such as conflict of interest and whistleblower protections, which reflect a level of accountability.
However, the organization faces significant challenges in transparency and financial reporting. It lacks financial statements and has not posted its tax form on its website, leading to a low score in these areas. The liabilities to assets ratio is notably high at 132.94%, which may raise concerns regarding the financial health of the nonprofit. Overall, while First Academy Inc shows dedication to its programs, attention to improving financial transparency and governance practices is necessary.
This AI summary has been generated from information found on Charity Navigator.
Is First Academy Inc legitimate?
First Academy Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. First Academy Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $57,838
Professional Fundraising Fees: $0
Other Salaries and Wages: $274,675
For more financial information, click here
What is the mission statement of First Academy Inc?
First Academy Inc's mission is to establish a diverse community that prioritizes academic excellence and the overall development of each child. Their approach to education is centered around creating a safe, nurturing environment that encourages active learning, fostering the growth of the whole child. This inclusive community is committed to supporting the success of every child, extending their educational support beyond regular school hours with before and after care programs.
Who is the CEO of First Academy Inc?
Leroy Bailey Iii is the President of First Academy Inc.
What is the revenue of First Academy Inc?
First Academy Inc's revenue in 2021 was $613,567.
Who are the executives of First Academy Inc and what are their salaries?
The average compensation at First Academy Inc during 2021 was $15,834. There are 21 employees at First Academy Inc.
Here are 8 key members and their salaries:
- Compensation: $7,300
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $43,615
- Related: $0
- Other: $0
- Compensation: $6,923
- Related: $0
- Other: $0
Where can I find the form 990 for First Academy Inc?
First Academy Inc's most recent form 990 was submitted in 2021 and can be accessed here.
Mission Statement of First Academy Inc
First Academy Inc, as a diverse community, is deeply committed to fostering academic excellence and promoting the successful development of every child. Their mission is twofold. Firstly, they strive to provide a safe and nurturing environment that encourages active learning and supports the holistic development of children, ranging from toddlers to those in pre-kindergarten. This encompasses a broad spectrum of learning experiences, ensuring that each child reaches their full potential. Secondly, First Academy Inc is dedicated to the overall success of every child, which extends beyond the classroom. This commitment is reflected in their provision of before and after care programs, offering families additional support and convenience. In essence, First Academy Inc is a beacon of educational excellence, nurturing and empowering children to thrive in all aspects of their development.
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Impact
July, 2024
First Academy Inc's impact lies in its provision of a safe, nurturing, and developmentally appropriate program that fosters active learning support for children from toddlers through PK4. By offering an effective and safe learning environment as well as before and after care programs for families, First Academy Inc plays a crucial role in the development and education of children in the Bloomfield, CT community. Their commitment to academic excellence and the successful development of every child underscores their dedication to creating a diverse and supportive educational environment.
This information is meant to be a general summary of First Academy Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2021.
- Program Service Revenue: $423,296
- Gross Receipts: $613,567
Assets and Liabilities:
- Total Assets: $262,428
- Total Liabilities: $348,881
- Net Assets: -$86,453
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROVIDED AN EFFECTIVE AND SAFE LEARNING ENVIRNOMEN
Revenue
$423,296
Organization Details
Founding Year
2016
Phone
(860) 243-6520Principal Officer
Leroy Bailey Iii
Main Address
1151 BLUE HILLS AVENUE, BLOOMFIELD, CT, 06002
NTEE Category
Code: B21 - Education
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