Success Academy Charter Schools Inc
- Assets
- $139.9m
- Revenue
- $88.2m
- Investments
- $0.0
- Employees
- 498
- Location
- New York, NY
- Founding
- 08/2007
- Data as of
- 06/2020
- EIN
- 20-5298861
Organization Overview
Success Academy Charter Schools Inc is located in New York, NY. The organization was established in 2007. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 06/2020, Success Academy Charter Schools Inc employed 498 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 06/2020, Success Academy Charter Schools Inc generated $88.2m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 8.6% each year. All expenses for the organization totaled $73.5m during the year ending 06/2020. While expenses have increased by 6.8% per year over the past 5 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE CHILDREN IN NYC WITH A HIGH QUALITY EDUCATION THAT GIVES THEM THE KNOWLEDGE, SKILLS, CHARACTER & DISPOSITION TO MEET & EXCEED NYS STANDARDS, & THE RESOURCES TO SUCCEED
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDED MANAGEMENT AND ADMINISTRATIVE SUPPORTING SERVICES TO THIRTY FOUR DISTINCT CHARTER SCHOOLS WITHIN THE BOUNDARIES OF THE BRONX, BROOKLYN, AND MANHATTAN BOROUGHS OF NEW YORK CITY. THE NETWORK'S ACTIVITIES INCLUDE: 1) HIRING EDUCATIONAL CONSULTANTS AND STAFF TO ADVISE ON SCHOOLS' DEVELOPMENT; 2) RESEARCHING AND DOCUMENTING THE SUCCESSFUL CHARACTERISTICS OF K-12 SCHOOLS SUCH AS THOSE AFFILIATED WITH THE NETWORK; 3) CREATING AND IMPLEMENTING A PLAN FOR THE REPLICATION OF THE SUCCESS ACADEMIES; 4) PROVIDING RESOURCES TO NEW CHARTER SCHOOLS, SUCH AS ASSISTANCE RECRUITING LEADERSHIP, ADMINISTRATION AND STAFF, RECRUITING STUDENTS, AND FOSTERING THE DEVELOPMENT OF SHARED SERVICES, CURRICULA, AND FACILITIES; 5) PERFORMING RESEARCH ON POLICIES THAT CAN INCREASE EDUCATIONAL OPPORTUNITIES FOR ALL CHILDREN, INCLUDING BUT NOT LIMITED TO POLICIES RELATING TO CHARTER SCHOOLS; 6) SUPPORTING EDUCATIONAL ORGANIZATIONS WITH SIMILAR GOALS; 7) PROVIDING ADDITIONAL SUPPORT TO STUDENTS WITHIN THE NETWORK OR STUDENTS OF NEED TO ALLOW THEM TO PURSUE ACADEMIC EXCELLENCE; 8) OTHER ACTIVITIES THAT PROMOTE EDUCATIONAL ACHIEVEMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ingrid Lamae DE Jongh Chief, Schooling | Officer | 55 | $422,500 |
Aparna Ramaswamy Chief, Human Capital | Officer | 55 | $417,256 |
Judith Friedman Chief, Advancement | Officer | 55 | $413,725 |
Ann Powell Chief, Public Affairs | Officer | 55 | $335,030 |
Bonnie Litt Chief, Advisory | Officer | 55 | $326,886 |
Cathy Jessup Chief Financial Officer | Officer | 55 | $321,967 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Madwell Llc Renovation Services | 6/29/20 | $4,277,065 |
Success In Motion 4u Llc Consulting | 6/29/20 | $651,477 |
Green Key Llc Consulting | 6/29/20 | $726,917 |
Gibson Dunn Crutcher Llp Legal Services | 6/29/20 | $595,255 |
Canal Partners Media Marketing | 6/29/20 | $618,285 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $2,676,149 |
| Related organizations | $0 |
| Government grants | $3,329,684 |
| All other contributions, gifts, grants, and similar amounts not included above | $34,485,188 |
| Noncash contributions included in lines 1a–1f | $155,729 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $40,491,021 |
| Total Program Service Revenue | $42,678,091 |
| Investment income | $78,949 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $4,715,725 |
| Net Gain/Loss on Asset Sales | $25,313 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $88,191,643 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,624,918 |
| 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. | $2,721,293 |
| Compensation of current officers, directors, key employees. | $462,620 |
| Compensation to disqualified persons | $135,000 |
| Other salaries and wages | $32,889,712 |
| Pension plan accruals and contributions | $842,471 |
| Other employee benefits | $3,923,122 |
| Payroll taxes | $2,607,362 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,685,659 |
| Fees for services: Accounting | $218,615 |
| Fees for services: Lobbying | $750,772 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,087,896 |
| Advertising and promotion | $0 |
| Office expenses | $419,503 |
| Information technology | $2,044,682 |
| Royalties | $0 |
| Occupancy | $6,258,205 |
| Travel | $318,246 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,898,693 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,271,500 |
| Insurance | $171,226 |
| All other expenses | $1,607,951 |
| Total functional expenses | $73,460,880 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $23,679,063 |
| Savings and temporary cash investments | $22,966,733 |
| Pledges and grants receivable | $790,857 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,500,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,795,266 |
| Net Land, buildings, and equipment | $75,737,659 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,472,661 |
| Total assets | $139,942,239 |
| Accounts payable and accrued expenses | $10,970,939 |
| Grants payable | $49,350 |
| Deferred revenue | $1,725,519 |
| 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 | $10,375,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $50,442,553 |
| Total liabilities | $73,563,361 |
| Net assets without donor restrictions | $48,699,594 |
| Net assets with donor restrictions | $17,679,284 |
| 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 | $139,942,239 |
Grants Awarded
Over the last fiscal year, Success Academy Charter Schools Inc has awarded $5,711,153 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: EXPANSION/ | $5,461,153 |
Wilmington, DE PURPOSE: PARENT MOBILIZATION | $250,000 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Success Academy Charter Schools Inc has recieved totaling $408,437.
| Awarding Organization | Amount |
|---|---|
Martini Fam Foundation Tr New York, NY PURPOSE: FOR OPERATIONS | $250,143 |
Jewish Communal Fund New York, NY PURPOSE: General support | $35,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $30,794 |
Charter Fund Inc Broomfield, CO PURPOSE: PANDEMIC RELIEF - REMOTE LEARNING | $30,000 |
Charter Fund Inc Broomfield, CO PURPOSE: PANDEMIC RELIEF - REMOTE LEARNING | $20,000 |
Hoertkorn Family Foundation Kentfield, CA PURPOSE: GIFT | $12,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Chevron Phillips Chemical Co Lp Health & Benefit Tr Veba Pittsburgh, PA | $20,199,735 | $97,337,529 |
Coordinated Behavioral Care Inc New York, NY | $27,765,648 | $75,461,704 |
Success Academy Charter Schools Inc New York, NY | $139,942,239 | $88,191,643 |
Baker Hall Lackawanna, NY | $33,938,221 | $51,465,099 |
Inspirittec Inc Philadelphia, PA | $38,217,409 | $42,481,529 |
Tiegerman School Glen Cove, NY | $25,903,989 | $36,049,021 |
Workforce Development Corp New York, NY | $10,698,298 | $32,287,764 |
Hand In Hand Family Services Ltd Brooklyn, NY | $19,048,208 | $39,771,146 |
Pennsylvania Virtual Charter School King Of Prussia, PA | $20,663,827 | $33,358,734 |
Teach For All Inc New York, NY | $63,275,692 | $50,938,774 |
Proteus Fund Inc Amherst, MA | $30,888,285 | $30,242,758 |
Lifesteps Inc Butler, PA | $23,184,799 | $31,303,500 |