Mastery Charter Schools Foundation
- Assets
- $112.3m
- Revenue
- $8.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Philadelphia, PA
- Founding
- 08/2007
- Data as of
- 06/2021
- EIN
- 20-5593485
Organization Overview
Mastery Charter Schools Foundation is located in Philadelphia, PA. The organization was established in 2007. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mastery Charter Schools Foundation 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, Mastery Charter Schools Foundation generated $8.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.3% each year. All expenses for the organization totaled $6.9m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Mastery Charter Schools Foundation has awarded 130 individual grants totaling $30,169,687. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP AND PROVIDE FINANCIAL SUPPORT FOR THE MASTERY NETWORK OF CHARTER SCHOOLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MASTERY CHARTER SCHOOLS FOUNDATION WILL DRIVE EDUCATIONAL REFORM BY SUPPORTING THE ACADEMIC AND OPERATIONAL PROGRAMS OF MASTERY CHARTER SCHOOLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brook J Lenfest Board Member | OfficerTrustee | 1 | $0 |
Stephen Cohn President | OfficerTrustee | 1 | $0 |
William Luterman Board Member | Trustee | 1 | $0 |
David Smith Board Member | Trustee | 1 | $0 |
Mona Burke Board Member | Trustee | 1 | $0 |
Walter Maner Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Northstar Owners Representation Construction Management Services | 6/29/18 | $113,376 |
Skanska Usa Building Inc Construction | 6/29/18 | $9,767,007 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,213,943 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,213,943 |
| Total Program Service Revenue | $0 |
| Investment income | $5,923,837 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $304,242 |
| Net Gain/Loss on Asset Sales | $88,586 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,533,885 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,651,977 |
| Grants and other assistance to domestic individuals. | $478,367 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $46,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $83,353 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,640,832 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,887 |
| All other expenses | $0 |
| Total functional expenses | $6,911,445 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,571,616 |
| Pledges and grants receivable | $110,500 |
| Accounts receivable, net | $1,831,114 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $16,399,974 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $9,394 |
| Net Land, buildings, and equipment | $11,932,291 |
| Investments—publicly traded securities | $18,145,674 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $56,316,527 |
| Total assets | $112,317,090 |
| Accounts payable and accrued expenses | $42,500 |
| Grants payable | $87,500 |
| Deferred revenue | $0 |
| 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 | $60,222,354 |
| Unsecured mortgages and notes payable | $2,150,000 |
| Other liabilities | $738,334 |
| Total liabilities | $63,240,688 |
| Net assets without donor restrictions | $29,791,159 |
| Net assets with donor restrictions | $19,285,243 |
| 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 | $112,317,090 |
Grants Awarded
Over the last fiscal year, Mastery Charter Schools Foundation has awarded $2,651,977 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
Philadelphia, PA PURPOSE: Charter school support, development and expansion | $1,906,032 |
Philadelphia, PA PURPOSE: Charter school support | $617,926 |
Philadelphia, PA PURPOSE: Charter school support- Unused Grant to Be Returned | $41,957 |
Philadelphia, PA PURPOSE: Charter school support | $31,542 |
Philadelphia, PA PURPOSE: Charter school support | $27,430 |
Philadelphia, PA PURPOSE: Charter school support | $10,638 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Mastery Charter Schools Foundation has recieved totaling $506,409.
| Awarding Organization | Amount |
|---|---|
Bill & Melinda Gates Foundation Seattle, WA PURPOSE: K-12 EDUCATION | $250,000 |
Bill & Melinda Gates Foundation Seattle, WA PURPOSE: K-12 EDUCATION | $99,295 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $86,000 |
Hilda & Preston Davis Private Foundation Philadelphia, PA PURPOSE: STUDENT ENRICHMENT PROGRAMS | $25,000 |
Falconhead Foundation Inc New York, NY PURPOSE: GENERAL SUPPORT | $15,000 |
Whirlpool Collective Impact Fund Benton Harbor, MI PURPOSE: CARE COUNTS LAUNDRY PROGRAM | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Say Yes Buffalo Scholarship Inc Buffalo, NY | $26,879,466 | $14,014,941 |
The Heckscher Foundation For Children New York, NY | $236,760,119 | $11,760,357 |
United Federation Of Teachers Educational Foundation Inc New York, NY | $18,651,586 | $11,866,585 |
Vista Foundation Hershey, PA | $12,658,681 | $12,905,128 |
Caroline & Joseph S Gruss Life Monument Funds Inc New York, NY | $48,124,527 | $2,679,769 |
Storehouse For Teachers Pittsburgh, PA | $4,365,823 | $11,202,988 |
Suny Impact Foundation Inc New York, NY | $1,805,430 | $8,847,404 |
Poughkeepsie Public School Teachers Asso Trust Fund Poughkeepsie, NY | $14,239,734 | $11,580,276 |
Elevate 215 Philadelphia, PA | $9,991,857 | $10,518,985 |
Battelle For Kids Hilliard, OH | $8,986,527 | $5,810,919 |
Meged Shomayim Airmont, NY | $573,750 | $8,461,954 |
Nli Usa Inc New York, NY | $11,341,396 | $10,639,057 |