Brighter Choice Elementary Charter Schools
- Assets
- $20.0m
- Revenue
- $11.0m
- Investments
- $0.0
- Employees
- 129
- Location
- Albany, NY
- Founding
- 05/2001
- Data as of
- 06/2022
- EIN
- 14-1830896
Organization Overview
Brighter Choice Elementary Charter Schools is located in Albany, NY. The organization was established in 2001. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2022, Brighter Choice Elementary Charter Schools employed 129 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Brighter Choice Elementary Charter Schools 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 06/2022, Brighter Choice Elementary Charter Schools generated $11.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.5% each year . All expenses for the organization totaled $10.3m during the year ending 06/2022. While expenses have increased by 14.6% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE QUALITY EDUCATIONAL ALTERNATIVE FOR AT-RISK ELEMENTARY STUDENTS IN ALBANY, NY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REGULAR AND SPECIAL EDUCATION
OTHER PROGRAM (NURSE, FOOD SERVICES AND TRANSPORTATION)-ALL STUDENTS QUALIFY TO PARTICIPATE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Trudy Hamner Vice Chair | OfficerTrustee | 1 | $0 |
Nicole Katz Treasurer | OfficerTrustee | 1 | $0 |
Martha Snyder Chair | OfficerTrustee | 2 | $0 |
Zoe Nelson Secretary | OfficerTrustee | 1 | $0 |
Patrick Romain Trustee | Trustee | 1 | $0 |
Nilsa Velilla Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Durham School Services Bus Transportat | 6/29/22 | $400,858 |
Revolution Foods Inc Food Service | 6/29/22 | $352,643 |
Janitronics Janitorial | 6/29/22 | $271,849 |
Vulcan Property Services Inc Property Maint | 6/29/22 | $132,129 |
Axa Equitable Retirement | 6/29/22 | $165,880 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,871,461 |
| All other contributions, gifts, grants, and similar amounts not included above | $285,462 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,156,923 |
| Total Program Service Revenue | $8,809,179 |
| Investment income | $6,749 |
| 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 | $10,972,851 |
| 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 | $4,531,677 |
| Pension plan accruals and contributions | $288,437 |
| Other employee benefits | $648,822 |
| Payroll taxes | $344,616 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $298 |
| Fees for services: Accounting | $208,574 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $252,448 |
| Advertising and promotion | $82,110 |
| Office expenses | $142,521 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $662,351 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $615,490 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $618,313 |
| Insurance | $99,544 |
| All other expenses | $163,493 |
| Total functional expenses | $10,263,065 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,476,429 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,081,631 |
| 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 | $0 |
| Net Land, buildings, and equipment | $10,189,986 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $539,985 |
| Other assets | $1,739,356 |
| Total assets | $20,027,387 |
| Accounts payable and accrued expenses | $1,308,577 |
| Grants payable | $0 |
| Deferred revenue | $12,738 |
| Tax-exempt bond liabilities | $12,165,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,246,545 |
| Total liabilities | $14,732,860 |
| Net assets without donor restrictions | $5,294,527 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $20,027,387 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Achievement First Inc New Haven, CT | $52,811,061 | $64,422,955 |
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 |
Philadelphia Performing Arts A String Theory Charter School Philadelphia, PA | $27,708,411 | $43,176,770 |
True North Rochester Preparatorycharter School Rochester, NY | $31,478,453 | $41,687,630 |
Classical Charter Schools Bronx, NY | $15,984,342 | $34,614,781 |
Bronx Charter School For Excellence Bronx, NY | $63,378,035 | $40,736,120 |
Avon Grove Charter School West Grove, PA | $50,579,082 | $34,467,872 |
Science Academies Of New York Charter Schools Syracuse, NY | $37,462,091 | $36,615,185 |