Newark Charter School Fund Inc
- Assets
- $1.8m
- Revenue
- $542.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Newark, NJ
- Founding
- 04/2017
- Data as of
- 12/2018
- EIN
- 26-2224940
Organization Overview
Newark Charter School Fund Inc is located in Newark, NJ. The organization was established in 2017. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations.
For the year ending 12/2018, Newark Charter School Fund Inc generated $542.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (47.5%) each year. All expenses for the organization totaled $1.8m during the year ending 12/2018. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2018
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADVOCACY - FOCUSES ON PARTNERING WITH ORGANIZATIONS THAT PROVIDE DATA, ANALYSIS, AND INFORMATION ABOUT BEST PRACTICES THAT CAN INFORM THE EDUCATION REFORM MOVEMENT. IN CONJUNCTION WITH THESE PARTNERS, NCSF ADVOCATES FOR HIGH QUALITY SCHOOL OPTIONS FOR ALL NEWARK STUDENTS AND WORKS TO ENSURE THAT POLICY DECISIONS ARE BASED ON FACTS AND NATIONAL, STATE, AND LOCAL BEST PRACTICES.
QUALITY SCHOOLS - TO STRENGTHEN AND SUSTAIN CHARTER SCHOOLS THAT DELIVER OUTSTANDING ACADEMIC RESULTS FOR NEWARK'S STUDENTS. TO SUPPORT NEW AND EXISTING SCHOOLS, THE FUND MAKES TARGETED GRANTS IN RESPONSE TO EACH SCHOOL'S VARYING NEEDS. THE FUND IS MOST INTERESTED IN INCREASING THE CAPACITY OF CHARTER SCHOOLS' TEACHERS, LEADERSHIP TEAMS AND BOARDS, AND IN SUPPORTING THEIR CORE TEACHING AND LEARNING PROGRAMS TO ENSURE THAT FUNDS WILL HAVE THE HIGHEST STUDENT IMPACT.
COLLABORATION - FOCUSES ON COLLABORATION WITH NEWARK PUBLIC SCHOOLS ON THE CONTINUED DEVELOPMENT OF POLICY AND RUNNING OF THE COMMON ENROLLMENT SYSTEM FOR ALL STUDENTS IN NEWARK. NCSF AIMS TO PROTECT SCHOOL CHOICE FOR PARENTS AND TO ENSURE THEY HAVE THE INFORMATION THEY NEED TO CHOOSE THE BEST SCHOOL FOR THEIR STUDENT.
EQUITY - FOCUSES ON EQUITY WITH NEWARK PUBLIC SCHOOLS ON THE CONTINUED DEVELOPMENT OF POLICY AND RUNNING OF THE COMMON ENROLLMENT SYSTEM FOR ALL STUDENTS IN NEWARK. NCSF AIMS TO PROTECT SCHOOL CHOICE FOR PARENTS AND TO ENSURE THEY HAVE THE INFORMATION THEY NEED TO CHOOSE THE BEST SCHOOL FOR THEIR STUDENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michele Mason Exec. Dir. And Secretary | 40 | $290,221 | |
Dale Anglin Board Chair | 0.5 | $0 | |
Dr Karen Thomas Board Member | 0.5 | $0 | |
Shane Harris Board Member | 0.5 | $0 | |
Ronald Rice Jr Board Member | 0.5 | $0 | |
De'shawn Wright Board Member | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Keystone Consulting Us Llc | 12/30/18 | $180,000 |
Education Strategy Consulting | 12/30/18 | $80,000 |
Human Impact Events Llc | 12/30/18 | $81,016 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $541,666 |
| Interest on Savings | $716 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $542,382 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $300,848 |
| Other employee salaries and wages | $173,682 |
| Pension plans, employee benefits | $79,588 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $77,173 |
| Travel, conferences, and meetings | $64,433 |
| Printing and publications | $0 |
| Other expenses | $76,773 |
| Total operating and administrative expenses | $1,685,761 |
| Contributions, gifts, grants paid | $130,987 |
| Total expenses and disbursements | $1,816,748 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $521,073 |
| Savings and temporary cash investments | $960,771 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $250,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $20,117 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $29,104 |
| Total assets | $1,781,065 |
| Accounts payable and accrued expenses | $32,155 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $354,167 |
| Total liabilities | $386,322 |
Grants Awarded
Over the last fiscal year, Newark Charter School Fund Inc has awarded $130,987 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Newark, NJ PURPOSE: SUPPORT FOR PLANNING NEW CHARTER SCHOOL | $75,000 |
Newark, NJ PURPOSE: SUPPORT FOR PLANNING NEW CHARTER SCHOOL | $25,000 |
GREAT OAKS CHARTER SCHOOL PURPOSE: SUPPORT FOR STAFF PROVIDING SERVICE TO STUDENTS WITH DISABILITIES | $15,650 |
LEAD CHARTER SCHOOL PURPOSE: SUPPORT FOR BUS SERVICE | $5,337 |
FHAK 20 ACADEMY PURPOSE: AFTER SCHOOL PROGRAM | $5,000 |
LIFE CAMP INC PURPOSE: SUPPORT FOR GENERAL OPERATING SUPPORT | $5,000 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Newark Charter School Fund Inc has recieved totaling $2,508,333.
| Awarding Organization | Amount |
|---|---|
City Fund Beaverton, OR PURPOSE: GROWING QUALITY SCHOOLS AND EDUCATIONAL PROGRAMS | $1,500,000 |
Community Foundation Of New Jersey Morristown, NJ PURPOSE: GRANT SUPPORT | $708,333 |
Prudential Foundation Inc Newark, NJ PURPOSE: GREAT PUBLIC SCHOOLS FOR ALL CHILDREN IN EVERY NEIGHBORHOOD IN NEWARK | $150,000 |
Prudential Foundation Inc Newark, NJ PURPOSE: GREAT PUBLIC SCHOOLS FOR ALL CHILDREN IN EVERY NEIGHBORHOOD IN NEWARK | $150,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Our World Neighborhood Charter School Astoria, NY | $8,035,800 | $19,394,981 |
Zeta Charter Schools - New York City Bronx, NY | $8,294,050 | $24,042,847 |
Tapestry Charter School Buffalo, NY | $42,673,326 | $19,036,142 |
Belmont Charter School Philadelphia, PA | $6,922,339 | $21,008,354 |
Riverton Street Charter School Jamaica, NY | $876,028 | $18,020,045 |
Community Partnership Charter School Brooklyn, NY | $6,697,823 | $17,421,510 |
University Heights Charter School Of Excellence Inc Newark, NJ | $19,966,425 | $19,377,888 |
Propel Charter School Sunrise Pittsburgh, PA | $9,914,076 | $19,454,226 |
West Oak Lane Charter School Philadelphia, PA | $9,484,536 | $17,633,515 |
New World Preparatory Charter School Staten Island, NY | $11,039,877 | $15,891,688 |
Central Jersey College Preparatory Charter School Somerset, NJ | $11,475,546 | $18,846,415 |
Mast Community Charter School Iii Philadelphia, PA | $53,124,349 | $21,172,350 |