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New York BBB Wise Giving Report for
Eagle Academy Foundation

A BBB Accredited charity

 


  • Meets all standards

Expiration Date:
07/2014
Name:
Eagle Academy Foundation
Address:
105 East 22nd Street, Suite 625
New York, NY 10010
Phone:
212-477-8370
Year, State Incorporated:
2005, New York
Affiliates:
None
Stated Purpose:
" Develop and support a network of all male, grades 6 through 12, college-preparatory schools in challenged, urban communities that educate and mentor young men into future leaders committed to excellence in character, scholastic achievement and community service, and to promote these principles nationally. "






Evaluation Conclusions
 

              
Eagle Academy Foundation meets the 20 Standards for Charity Accountability.




Programs
 

              
Today, the Eagle Academy Foundation and its network of public schools stand as a national model of academic excellence and social success for urban young men. Eagle Academy's 2010 high school graduation rate of 87% is more than double the citywide rate for Black and Latino male students (43%). 95% of Eagle Academy graduates go on to college. Eagle Academy graduates have been accepted by our nation's most prestigious universities and colleges, such as the United States Military Academy at West Point, Carnegie Mellon University, and Morehouse College, to name just a few. Most importantly, all Eagle Academy young men embrace the ideal that hard work and strong character combined with academic achievement define success. The 2010 Schott State Report on Black Males and Education describes Eagle Academy as one of the "beacons of light with outstanding leaders that are doing a great job saving hundreds of children."



Governance
 

              
Chief Executive Officer:
Mr. David C. Banks, President and CEO
Compensation*:
$225,000
Chair of the Board:
Mr. Paul T. Williams, Jr., President
Chair's Profession / Business Affiliation:
Dormitory Authority of the State of New York
Board Size:
14
Paid Staff Size:
10



*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.




Fund Raising
 

              
Method(s) Used:


Invitations to fund raising events, grant proposals, internet
Fund raising costs were 4% of related contributions. (Related contributions, which totaled $1,015,485, are donations received as a result of fund raising activities.)




Tax Status
 

              
This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.




Financial
 

              
The following information is based on Eagle Academy Foundation's Audited Financial Statements for the fiscal year ended June 30, 2012.

Source of Funds  

Restricted Grants

$874,666

Program Receipts

172,703

Contributions

140,819

Interest Income

9

Total Income

$1,188,197

Program Expenses  

Academic Enrichment

$289,588

Extended Day

214,164

Summer Bridge

92,656

Mentoring

86,130

College Preparation

57,810

Other

56,267

Rituals

53,984

Parent Engagement

49,159
Total Program Expenses:
Fund Raising Expenses
Administrative Expenses

Total expenses

Expenses in Excess of Income

899,758
40,967
359,836

$1,300,561

$(112,364)




Uses of Funds as a % of Total Expenses


Programs: 69%  Fund Raising: 3%  Administrative 28% 
Roll the cursor over the pie chart to see the dollar amounts.


Beginning net assets $146,674
Ending net assets 34,310
Total liabilities 453,606

Total assets

$487,916






 

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