Overview
What is Explore Academy Foundation?
Explore Academy Foundation is a nonprofit organization situated in Albuquerque, New Mexico. Its primary objective is to support Explore Academy Charter School, a government-authorized charter school in New Mexico. To fulfill this mission, the foundation acquires and finances facilities for the school, leasing these premises to Explore Academy Charter School. The rental income generated is utilized to cover facility debt obligations and other expenses. By providing facilities and support, Explore Academy Foundation plays a crucial role in enabling the charter school to deliver its tax-exempt educational services.
Official website here: www.explore.academy
Is Explore Academy Foundation legitimate?
Explore Academy Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Explore Academy Foundation 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.explore.academy
What is the mission statement of Explore Academy Foundation?
The Explore Academy Foundation's mission is centered around supporting the mission and activities of Explore Academy Charter School, a New Mexico governmentally authorized charter school. In essence, the foundation's role is to aid in the provision of tax-exempt educational services by acquiring necessary facilities and securing financing for their acquisition. The foundation then leases these facilities to Explore Academy Charter School for their operational use. The rental income generated is utilized to cover the facility debt service and other expenses. The foundation's primary objective is to contribute to the success of Explore Academy Charter School.
Official website here: www.explore.academy
What is the revenue of Explore Academy Foundation?
Explore Academy Foundation's revenue in 2023 was $2,554,020.
Official website here: www.explore.academy
Who are the executives of Explore Academy Foundation and what are their salaries?
There 2 volunteers at Explore Academy Foundation.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $121,920
- Other: $35,175
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.explore.academy
Where can I find the form 990 for Explore Academy Foundation?
Explore Academy Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.explore.academy
Learn more at the official website: www.explore.academy
Mission Statement of Explore Academy Foundation
The Explore Academy Foundation is dedicated to supporting the mission and activities of Explore Academy Charter School, a New Mexico governmentally authorized charter school. In essence, the foundation's primary objective is to aid this educational institution in its operations. To accomplish this, the foundation acquires and finances the necessary facilities for the charter school. Renting these facilities to Explore Academy Charter School, the foundation utilizes the revenue generated to cover the facility debt service and other related expenses. In this manner, the Explore Academy Foundation plays a crucial role in enabling the charter school to provide its tax-exempt educational services effectively.
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Impact
October, 2024
Explore Academy Foundation significantly enhances the educational landscape in Albuquerque, New Mexico, by providing vital facilities and support to Explore Academy Charter School. By acquiring and leasing facilities to the charter school, the foundation ensures that students have access to safe and conducive learning environments. This operational backing allows Explore Academy to focus on delivering high-quality, tax-exempt educational services.
Through strategic financing and management of the facilities, the foundation alleviates financial burdens associated with facility maintenance and debt service. This support empowers the charter school to allocate more resources towards educational programs, staff development, and student engagement, ultimately enriching the academic experience for all enrolled students.
The foundation's commitment to facilitating a robust educational framework helps foster a thriving learning community, making a lasting impact on students’ academic success and future opportunities. By aligning its mission with that of Explore Academy Charter School, the foundation plays a crucial role in nurturing educational excellence and innovation in the region.
This information is meant to be a general summary of Explore Academy Foundation. 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 2023.
- Investment Income: $439,332
- Program Service Revenue: $2,114,688
- Gross Receipts: $2,554,020
Assets and Liabilities:
- Total Assets: $34,734,818
- Total Liabilities: $38,879,278
- Net Assets: -$4,144,460
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT-EXPLORE ACADEMY
Revenue
$2,114,688
Organization Details
Founding Year
2014
Principal Officer
Justin Baiardo
Website
www.explore.academyNTEE Category
Code: B11 - Education
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