Overview
What is East Lake Academy Inc?
East Lake Academy Inc is a nonprofit organization situated in Birmingham, Alabama, specifically at 700 Huffman Road. The primary source of its revenue comes from unlimited donations from external contributors. This funding is utilized to establish a secure and conducive learning environment, employ dedicated teachers, provide high-quality education based on merit, and promote self-sufficiency in students. The organization, East Lake Academy, is a private Christian school primarily serving students from low-income and minority households in the East Lake/Roebuck community of Birmingham, Alabama. It operates with a mission to receive and manage funds for educational and charitable purposes, contributing to the community by offering quality education and a Christ-centered setting. The organization is led by a team of 20 employees.
Official website here: www.banksacademy.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Stars)
East Lake Academy Inc has received a Three-Star rating from Charity Navigator, reflecting a solid overall score based on its accountability and finance practices. The score of 81% indicates that the organization meets various financial criteria and has strong governance measures in place. The rating is primarily derived from a single beacon score, emphasizing the importance of accountability and financial health.
The organization demonstrates commendable operational transparency, boasting a fully independent board with 100% of its members meeting this criterion. It also maintains robust policies related to conflict of interest, whistleblower protections, and document retention, all of which contribute positively to its governance framework. Furthermore, the academy showcases a sound financial structure, with a low liabilities to assets ratio of 3.71% and a high program expense ratio of 82.67%, indicating that the majority of its resources are allocated towards its programs.
While East Lake Academy Inc has shown strengths in its financial management and governance policies, the single beacon approach to scoring means that areas beyond accountability and finance are not assessed. Future evaluations could benefit from a more comprehensive review that includes program effectiveness and impact metrics to provide a fuller picture of the organization’s overall performance.
This AI summary has been generated from information found on Charity Navigator.
Is East Lake Academy Inc legitimate?
East Lake Academy Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. East Lake 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $575,828
For more financial information, click here
Official website here: www.banksacademy.com
What is the mission statement of East Lake Academy Inc?
East Lake Academy Inc, as a non-profit organization, is dedicated to supporting a private Christian school in its educational and charitable endeavors. Its primary objective is to receive and manage funds for this purpose, specifically in a low-income and minority community. The entity's main source of revenue comes from unlimited donations from outside sources, which are then utilized to provide a safe and secure learning environment. The school employs committed teachers who focus on delivering quality education based on merit, fostering self-sufficiency in students, implementing successful learning strategies, and cultivating a Christ-centered atmosphere.
Official website here: www.banksacademy.com
Who is the CEO of East Lake Academy Inc?
Darryl White is the Board Member of East Lake Academy Inc.
Official website here: www.banksacademy.com
What is the revenue of East Lake Academy Inc?
East Lake Academy Inc's revenue in 2022 was $1,426,107.
Official website here: www.banksacademy.com
Who are the executives of East Lake Academy Inc and what are their salaries?
The average compensation at East Lake Academy Inc during 2022 was $28,791. There are 20 employees at East Lake Academy Inc.
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- Compensation: $105,000
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Official website here: www.banksacademy.com
Where can I find the form 990 for East Lake Academy Inc?
East Lake Academy Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.banksacademy.com
Learn more at the official website: www.banksacademy.com
Mission Statement of East Lake Academy Inc
East Lake Academy Inc, a non-profit organization, was established with the sole purpose of raising and managing funds for a private Christian school situated in a low-income and minority community. The primary aim of this non-profit is to provide educational and charitable assistance to this school. The organization is dedicated to providing a secure and conducive learning environment, hiring committed teachers, and delivering quality education based on merit. The educators at East Lake Academy Inc focus on nurturing self-sufficient students, employing successful learning strategies, and fostering a Christ-centered setting. By doing so, the academy aims to equip its students with the necessary tools to thrive in their academic and personal lives.
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Impact
July, 2024
East Lake Academy Inc's impact is significant in the East Lake/Roebuck community of Birmingham, Alabama, where it provides a private Christian school education to students from low-income and minority households. By creating a safe and secure school environment and employing dedicated teachers, the organization aims to empower students with a quality education based on merit. Through their emphasis on self-sufficiency, successful learning strategies, and a Christ-centered approach, East Lake Academy Inc is making a tangible difference in the lives of these students and the community as a whole.
This information is meant to be a general summary of East Lake 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 2022.
- Investment Income: $171
- Program Service Revenue: $784,587
- Gross Receipts: $1,467,613
Assets and Liabilities:
- Total Assets: $414,966
- Total Liabilities: $15,415
- Net Assets: $399,551
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SCHOLARSHIPS
Revenue
$619,685
OTHER SCHOOL REVENUES
Revenue
$89,267
TUITION AND FEES
Revenue
$75,635
Organization Details
Founding Year
2015
Phone
(205) 834-5433Principal Officer
Darryl White
Main Address
700 HUFFMAN ROAD, BIRMINGHAM, AL, 35215
Website
www.banksacademy.comNTEE Category
Code: B25 - Education
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