Team Academy Charter School Inc
- Assets
- $62.8m
- Revenue
- $112.0m
- Investments
- $0.0
- Employees
- 770
- Location
- Newark, NJ
- Founding
- 01/2005
- Data as of
- 06/2021
- EIN
- 01-0660264
Organization Overview
Team Academy Charter School Inc is located in Newark, NJ. The organization was established in 2005. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2021, Team Academy Charter School Inc employed 770 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Team Academy Charter School Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Team Academy Charter School Inc generated $112.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.8% each year. All expenses for the organization totaled $108.5m during the year ending 06/2021. While expenses have increased by 8.0% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TEAM ACADEMY CHARTER SCHOOL IS A FREE, OPEN ENROLLMENT, COLLEGE-PREPARATORY PUBLIC SCHOOL DEDICATED TO PREPARING STUDENTS IN UNDERSERVED COMMUNITIES FOR SUCCESS IN COLLEGE AND LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE TEAM ACADEMY CHARTER SCHOOL IS A NEW JERSEY PUBLIC SCHOOL OVERSEEN BY THE STATE OF NEW JERSEY DEPARTMENT OF EDUCATION. THE SCHOOL OFFERS AN ACADEMIC PROGRAM TO ASSIST CHILDREN IN DISCOVERING THEIR TALENTS AND PROVIDES A COMMUNITY RESOURCE AND A MEANS TO UNITE PARENTS AND TEACHERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry Stevens School Leader | 40 | $193,505 | |
Nicole Kessler School Leader | 40 | $188,350 | |
David Branson School Leader | 40 | $185,145 | |
Veronica Avery School Leader | 40 | $177,344 | |
Antonia O'sullivan School Leader | 40 | $164,453 | |
Brendan Maher Board President | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dicara Rubino Architects Construction Services | 6/29/21 | $154,942 |
Jmtk Construction Services | 6/29/21 | $180,945 |
Aps Contracting Construction Services | 6/29/21 | $149,683 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $108,363,917 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,671,649 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $112,035,566 |
| Total Program Service Revenue | $688 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $112,036,254 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $50,810,688 |
| Pension plan accruals and contributions | $2,018,705 |
| Other employee benefits | $4,661,568 |
| Payroll taxes | $3,933,378 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $62,156 |
| Fees for services: Accounting | $70,782 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,957,685 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,382,581 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $121,939 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $908,707 |
| Insurance | $507,477 |
| All other expenses | $0 |
| Total functional expenses | $108,478,843 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,630,029 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,735,042 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $287,317 |
| Net Land, buildings, and equipment | $18,532,628 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $23,599,040 |
| Total assets | $62,784,056 |
| Accounts payable and accrued expenses | $6,906,259 |
| Grants payable | $0 |
| Deferred revenue | $92,295 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $15,959,144 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $32,059,917 |
| Total liabilities | $55,017,615 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $5,192,957 |
| Paid-in or capital surplus, or land, building, or equipment fund | $2,573,484 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $62,784,056 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Team Academy Charter School Inc has recieved totaling $6,114,315.
| Awarding Organization | Amount |
|---|---|
Kipp Foundation San Francisco, CA PURPOSE: NEW SCHOOL START-UP; DIRECTOR OF LEADERSHIP DEVELOPMENT; MARKETING; COVID-19 EMERGENCY; POSTSECONDARY MATCH, CAREER, AND TRANSFER & REENROLLMENT; MENTAL-HEALTH & HEALING | $3,880,159 |
Kipp Team And Family Schools Inc Newark, NJ PURPOSE: SUPPORT AND EXPANSION FOR TEAM PUBLIC SCHOOLS IN NEWARK, NJ. | $2,234,156 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Success Academy Charter Schools - Nyc New York, NY | $153,203,967 | $391,023,772 |
Uncommon New York City Charter Schools New York, NY | $122,371,103 | $160,782,001 |
Ascend Charter Schools Brooklyn, NY | $45,182,055 | $130,071,368 |
Team Academy Charter School Inc Newark, NJ | $62,784,056 | $112,036,254 |
Agora Cyber Charter School King Of Prussia, PA | $29,812,274 | $123,843,368 |
Kipp Nyc Public Charter Schools Ii New York, NY | $29,013,020 | $109,312,231 |
The Academy Charter School Hempstead, NY | $181,369,373 | $54,353,660 |
Mastery Charter High School Philadelphia, PA | $43,740,057 | $52,618,647 |
Public Prep Charter School Academies Bronx, NY | $28,993,375 | $52,903,915 |
Explore Excel Charter School Brooklyn, NY | $21,686,253 | $46,865,700 |
Brooklyn Prospect Charter School Brooklyn, NY | $14,747,543 | $42,286,541 |
Little Red School House Inc New York, NY | $50,588,811 | $36,915,940 |