Freedom Prep Charter School
- Assets
- $12.0m
- Revenue
- $18.7m
- Investments
- $0.0
- Employees
- 99
- Location
- Camden, NJ
- Founding
- 07/2008
- Data as of
- 06/2021
- EIN
- 20-0683866
Organization Overview
Freedom Prep Charter School is located in Camden, NJ. The organization was established in 2008. 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, Freedom Prep Charter School employed 99 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Freedom Prep Charter School 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, Freedom Prep Charter School generated $18.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $15.0m during the year ending 06/2021. While expenses have increased by 1.2% 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
TO EDUCATE RESPONSIBLE CITIZEN-SCHOLARS FOR SUCCESS IN THE COLLEGE OF THEIR CHOICE AND A LIFE OF ACTIVE CITIZENSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FREEDOM PREP CHARTER SCHOOL PROVIDES AN EXCEPTIONAL ALTERNATIVE FOR STUDENTS AND FAMILIES OTHERWISE SLATED TO ATTEND SCHOOLS THAT TOO OFTEN DO NOT MEET THEIR NEEDS. IN ADDITION TO INCORPORATING THE TRADITIONAL ATTRIBUTES THAT RESEARCHERS HAVE PROVEN TO BE CORRELATED WITH IMPROVED STUDENT LEARNING OUTCOMES, FREEDOM PREP IS UNIQUE IN ITS COMMITMENT TO THREE OTHER KEY DESIGN ELEMENTS: A COMMITMENT TO EDUCATING ALL STUDENTS IN ALL SUBJECTS IN ALL GRADES; AUTHENTIC CIVIC LEADERSHIP AND ENGAGEMENT; AND OPERATING ON PUBLIC FUNDS. THE CHARTER SCHOOL PROVIDES FULL EDUCATIONAL SERVICES TO STUDENTS IN GRADES KINDERGARTEN THRU GRADE 12. FREEDOM PREP COMPLETED THE 2020-2021 SCHOOL YEAR WITH AN ENROLLMENT OF 826 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kaitlin Mccann Middle Principa | Officer | 40 | $0 |
Wyomia Scott Executive Dir. | Officer | 40 | $0 |
Latoya Pearson Elem. Principal | Officer | 40 | $0 |
Joshua Rivera Principal | Officer | 40 | $0 |
Constance Horton Executive Dir. | Officer | 40 | $0 |
Michael Falkowski Sch Bus Admin | Officer | 10 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Holcomb Bus Transportation | 6/29/21 | $404,022 |
Democracy Prep Management Company | 6/29/21 | $1,797,367 |
Maschios Food Service Inc Food Service Mgt Ser | 6/29/21 | $293,130 |
School Business Office School Business Services | 6/29/21 | $120,155 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $16,304,014 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $16,304,014 |
| Total Program Service Revenue | $2,456,237 |
| Investment income | $9,471 |
| 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 | -$73,849 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,736,177 |
| 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. | $3,280,029 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,127,182 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,360,337 |
| Payroll taxes | $263,556 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $36,096 |
| Fees for services: Accounting | $29,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,141,743 |
| Advertising and promotion | $0 |
| Office expenses | $706,758 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,040,940 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $50,004 |
| Insurance | $67,701 |
| All other expenses | $0 |
| Total functional expenses | $14,984,124 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,633,934 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $622,938 |
| 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 | $82,972 |
| Net Land, buildings, and equipment | $40,112 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,634,508 |
| Total assets | $12,014,464 |
| Accounts payable and accrued expenses | $893,611 |
| Grants payable | $0 |
| Deferred revenue | $216,644 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,639,638 |
| Total liabilities | $8,749,893 |
| Net assets without donor restrictions | $3,224,013 |
| Net assets with donor restrictions | $40,558 |
| 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 | $12,014,464 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Freedom Prep Charter School has recieved totaling $110,000.
| Awarding Organization | Amount |
|---|---|
Camden Education Fund Inc Camden, NJ PURPOSE: COVID-19 support | $100,000 |
New Jersey Charter Public Schools Association A New Jersey Non-Profi Hamilton, NJ PURPOSE: COVID RELIEF GRANT | $10,000 |
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 |
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 |
Lehigh Valley Academy Charter School Bethlehem, PA | $96,198,987 | $32,574,812 |