Cresthaven Academy Foundation Inc
- Assets
- $5.4m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 36
- Location
- Warren, NJ
- Founding
- 05/2015
- Data as of
- 06/2021
- EIN
- 47-1405920
Organization Overview
Cresthaven Academy Foundation Inc is located in Warren, NJ. The organization was established in 2015. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2021, Cresthaven Academy Foundation Inc employed 36 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cresthaven Academy Foundation Inc 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, Cresthaven Academy Foundation Inc generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 30.4% each year . All expenses for the organization totaled $785.5k during the year ending 06/2021. While expenses have increased by 24.9% 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 HELP THE CRESTHAVEN ACADEMY ADVANCE THEIR MISSION AND IMPROVE THE QUALITY OF EDUCATION FOR CHILDREN IN PLAINFIELD, NEW JERSEY AND SURROUNDING COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CRESTHAVEN ACADEMY FOUNDATION WAS FOUNDED, IN PART, TO PROVIDE FINANCIAL AND TECHNICAL SUPPORT TO, AND FURTHER THE EDUCATIONAL AND CHARITABLE MISSION OF CRESTHAVEN ACADEMY CHARTER SCHOOL, A PUBLIC CHARTER SCHOOL ORGANIZED IN NEW JERSEY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven Colson Chairman | OfficerTrustee | 20 | $0 |
John Leitch Treasurer | OfficerTrustee | 1 | $0 |
Nhat Nguyen Trustee | OfficerTrustee | 1 | $0 |
Brendan Murray Trustee | Trustee | 1 | $0 |
Shane Connell Trustee | Trustee | 1 | $0 |
Will Bredford Trustee | Trustee | 1 | $0 |
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 | $625,723 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $625,723 |
| Total Program Service Revenue | $855 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $450,000 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$355 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,076,223 |
| 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 | $177,036 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,936 |
| Payroll taxes | $15,651 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $79,467 |
| Advertising and promotion | $465 |
| Office expenses | $4,391 |
| Information technology | $7,913 |
| Royalties | $0 |
| Occupancy | $561 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $229,911 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $177,579 |
| Insurance | $21,307 |
| All other expenses | $436 |
| Total functional expenses | $785,497 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $277,902 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $6,795 |
| Net Land, buildings, and equipment | $5,122,123 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,406,820 |
| Accounts payable and accrued expenses | $14,489 |
| Grants payable | $0 |
| Deferred revenue | $7,550 |
| 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 | $4,147,982 |
| Unsecured mortgages and notes payable | $153,200 |
| Other liabilities | $0 |
| Total liabilities | $4,323,221 |
| Net assets without donor restrictions | $1,083,599 |
| 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 | $5,406,820 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Cresthaven Academy Foundation Inc has recieved totaling $40,491.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $18,000 |
Paypal Charitable Giving Fund Washington, DC PURPOSE: General Support | $14,465 |
Chubb Charitable Foundation Philadelphia, PA PURPOSE: MATCHING GIFTS | $5,000 |
Zakaria Family Foundation Morristown, NJ PURPOSE: TO HELP SUPPORT EDUCATIONAL NEEDS AT CRESTHAVEN ACADEMY. | $2,500 |
Annunziata Family Foundation Inc Warren, NJ PURPOSE: UNRESTRICTED GRANT TO SUPPORT THE ORGANIZATION'S EXEMPT PURPOSE. | $500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $26 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Stony Brook Foundation Inc Stony Brook, NY | $732,698,663 | $129,247,386 |
University At Buffalo Foundation Inc Buffalo, NY | $1,104,161,290 | $45,943,366 |
Americans For Ben-Gurion University Inc New York, NY | $873,598,749 | $105,090,161 |
Anderson Center Services Inc Staatsburg, NY | $47,866,926 | $36,341,767 |
Forrestal Agricultural Corporation Princeton, NJ | $368,119,233 | $43,096,782 |
Faculty-Student Assoc Of State University Of Ny At Stony Brook Stony Brook, NY | $54,956,974 | $31,334,535 |
Foundation For Indiana University Of Pennsylvania Indiana, PA | $226,911,998 | $27,994,482 |
Foundation Of The State University Of New York At Binghamton Inc Binghamton, NY | $286,478,699 | $29,318,635 |
New York University School Of Law Foundation New York, NY | $145,376,406 | $16,902,006 |
Ubf Faculty-Student Housing Corp Buffalo, NY | $136,055,512 | $19,963,891 |
Educational And Cultural Trust Fund Of The Electrical Industry Flushing, NY | $84,016,859 | $24,193,596 |
Unidel Foundation Inc Greenville, DE | $452,249,782 | $36,851,681 |