EXPLORE ACADEMY FOUNDATION

EIN: 471720796 501(c)(3) Education

ALBUQUERQUE, NM

Total Revenue
$2,554,020
Total Expenses
$3,025,998
Total Assets
$34,428,362
Net Assets
$-4,616,438
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2014
Legal Domicile
NM
Principal Officer
JUSTIN BAIARDO
Phone
5053055300
Tax Period
2022-07-01 to 2023-06-30

EXPLORE ACADEMY FOUNDATION, founded in 2014, is a community nonprofit in the Education sector that reported $2.6M in total revenue in fiscal year 2022. Revenue surged 37% from the prior year, signaling strong growth momentum. Expenses of $3.0M exceeded revenue, resulting in a 18% operating deficit.

Mission

TO SUPPORT THE MISSION AND ACTIVITIES OF EXPLORE ACADEMY CHARTER SCHOOL, A NEW MEXICO GOVERNMENTAL AUTHORIZED CHARTER SCHOOL.

Program Service Accomplishments

Program 1
Expenses: $3,025,998 Revenue: $2,114,688

ACQUIRE THE FACILITIES FOR THE EXPLORE ACADEMY CHARTER SCHOOL AND TO OBTAIN THE FINANCING FOR THIS ACQUISITION.THE FOUNDATION RENTS THESE FACILITIES TO THEIR SUPPORTED ORGANIZATION, EXPLORE ACADEMY...

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ACQUIRE THE FACILITIES FOR THE EXPLORE ACADEMY CHARTER SCHOOL AND TO OBTAIN THE FINANCING FOR THIS ACQUISITION.THE FOUNDATION RENTS THESE FACILITIES TO THEIR SUPPORTED ORGANIZATION, EXPLORE ACADEMY CHARTER SCHOOL, FOR USE IN PROVIDING THE CHARTER SCHOOL'S TAX-EXEMPT EDUCATIONAL SERVICES. FROM THIS RENT, THE FOUNDATION PAYS THE FACILITY DEBT SERVICE AS WELL AS SOME OTHER EXPENSES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $2,114,688
Investment Income $439,332
Other Revenue $0
TOTAL REVENUE $2,554,020

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $3,025,998
Other Expenses $3,025,998
TOTAL EXPENSES $3,025,998

Year-over-Year Comparison

2022 2021 Change
Revenue $2,554,020 $1,867,493 +0.4%
Expenses $3,025,998 $3,247,065 -0.1%
Net Income $-471,978 $-1,379,572 -0.7%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
3
Independent Members
N/A
Employees
N/A
Volunteers
2

Governance Policies

✓ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$157,095
Total Directors
3
$157,095
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JUSTIN BAIARDO PRESIDENT/CHAIR 2.00
Officer Director
$0 $35,175 $157,095
MELANIE AVGERAKIS SECRETARY 1.00
Officer Director
$0 $0 $0
DANIELE KNEE TREASURER 1.00
Officer Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2023 $2,554,020 $3,025,998 $34,428,362 $-471,978
2022 $1,867,493 $3,247,065 $34,734,818 $-1,379,572
2021 $1,181,763 $2,006,857 $21,307,061 $-825,094
2020 $827,299 $1,415,921 $21,756,662 $-588,622
2019 $416,683 $731,033 $8,483,284 $-314,350
2018 No data $1,036,822 $8,635,279 No data
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