Overview
What is Detroit Achievement Academy Foundation?
Detroit Achievement Academy Foundation is a 501(c)(3) nonprofit organization, headquartered in Detroit, Michigan. The Foundation's primary mission is to support the education of school children in Detroit, primarily by administering grants to benefit Detroit Achievement Academy and its schools. Additionally, the Foundation may also provide grants to educational institutions serving urban city schools, as long as these purposes are permissible under section 501(c)(3) of the Internal Revenue Code. The Foundation also manages and deals with real and personal property, using gifts, grants, and bequests to further its objectives. The Foundation's purpose is to enhance the educational experience for children in Detroit and its public and charter schools.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 70%)
Detroit Achievement Academy Foundation has received a Two-Star rating, reflecting its overall score of 70%. The foundation demonstrates strengths in certain governance practices, having an independent board with all members meeting independence standards and a solid conflict of interest policy. Additionally, the organization excels in its program expense ratio, indicating a strong commitment to using funds for its mission-driven activities.
However, there are notable weaknesses in financial management and transparency. The independent board size received no points, suggesting a lack of adequate board structure. Furthermore, the organization scored poorly on the financial statements audit and the distribution of tax forms to board members, which raises concerns about fiscal oversight and transparency.
Despite these limitations, the foundation maintains a healthy working capital ratio, indicating a robust financial position. Nevertheless, the fundraising efficiency ratio is quite low, resulting in potential challenges for future fundraising efforts. Overall, while the Detroit Achievement Academy Foundation demonstrates a commitment to its mission and has some effective governance practices, it also faces significant areas for improvement in finance and transparency.
This AI summary has been generated from information found on Charity Navigator.
Is Detroit Achievement Academy Foundation legitimate?
Detroit Achievement Academy Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Detroit Achievement 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
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What is the mission statement of Detroit Achievement Academy Foundation?
The Detroit Achievement Academy Foundation's primary mission is to support the educational needs of school children, specifically those in Detroit Achievement Academy schools and other public and charter schools within the city of Detroit. They achieve this by administering funds and property for charitable, scientific, literary, and educational purposes, as per Section 501(C)(3) of the Internal Revenue Code. The foundation also acquires, manages, and disposes of property and applies gifts, grants, bequests, and devises to further its objectives, which must be permissible for an organization described in Section 501(C)(3) of the Internal Revenue Code. The foundation has supported Detroit Achievement Academy and Detroit Preparatory Academy, incurring expenses to enhance their operations for the benefit of the city's school children.
Who is the CEO of Detroit Achievement Academy Foundation?
Kyle Smitley is the Member of Detroit Achievement Academy Foundation.
What is the revenue of Detroit Achievement Academy Foundation?
Detroit Achievement Academy Foundation's revenue in 2022 was $1,808,998.
Who are the executives of Detroit Achievement Academy Foundation and what are their salaries?
There 1 volunteer at Detroit Achievement Academy Foundation.
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Where can I find the form 990 for Detroit Achievement Academy Foundation?
Detroit Achievement Academy Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Detroit Achievement Academy Foundation
The Detroit Achievement Academy Foundation, a charitable organization, is primarily dedicated to supporting the educational needs of school children, specifically those in Detroit and other urban cities. In alignment with its 501(c)(3) status, the foundation's mission is to administer funds and properties for charitable, scientific, literary, and educational purposes. This mission extends to providing grants to benefit Detroit Achievement Academy or any of its schools, as long as these purposes are permissible for a 501(c)(3) organization. If not, the foundation then extends its support to educational institutions catering to school children in Detroit or other urban cities.
Beyond grant-making, the Detroit Achievement Academy Foundation also engages in acquiring, owning, disposing of, and dealing with real and personal property and interests. The foundation's activities are guided by its board of directors, ensuring that all actions are appropriate and not prohibited by section 501(c)(3) of the Internal Revenue Code. In line with its mission, the foundation has awarded grants and incurred expenses to support the operations of Detroit Achievement Academy and Detroit Preparatory Academy, thereby benefiting school children in Detroit.
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Impact
July, 2024
Detroit Achievement Academy Foundation has had a significant impact on the school children in Detroit by supporting Detroit Achievement Academy schools and other city of Detroit public and charter schools. Through awarded grants and incurred expenses, the foundation has contributed to the operations of these schools, ultimately benefiting the students in the Detroit area. This support has helped to enhance educational opportunities and resources for these children, aiming to improve their academic outcomes and overall well-being.
This information is meant to be a general summary of Detroit Achievement 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 2022.
- Investment Income: $722,788
- Gross Receipts: $1,808,998
Assets and Liabilities:
- Total Assets: $15,011,956
- Total Liabilities: $11,535,184
- Net Assets: $3,476,772
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Organization Details
Founding Year
2016
Phone
(419) 439-5953Principal Officer
Kyle Smitley
Main Address
7000 W OUTER DRIVE, DETROIT, MI, 48235
NTEE Category
Code: B11 - Education
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