Charter Schools Development Corporation
- Assets
- $137.1m
- Revenue
- $25.5m
- Investments
- $0.0
- Employees
- 12
- Location
- Hanover, MD
- Founding
- 08/1998
- Data as of
- 12/2021
- EIN
- 52-2063496
Organization Overview
Charter Schools Development Corporation is located in Hanover, MD. The organization was established in 1998. 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 12/2021, Charter Schools Development Corporation employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Charter Schools Development Corporation 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 12/2021, Charter Schools Development Corporation generated $25.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.5% each year . All expenses for the organization totaled $8.9m during the year ending 12/2021. While expenses have increased by 5.5% per year over the past 7 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
FINANCING AND BUILDING GREAT PUBLIC CHARTER SCHOOLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING LOANS, CREDIT ENHANCEMENTS, FINANCING GUARANTEES, FACILITY DEVELOPMENT AND MANAGEMENT SUPPORT TO CHARTER SCHOOLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Al Dubin President/ceo | Officer | 40 | $684,500 |
Laura Fiemann Senior Vice President | Officer | 40 | $300,667 |
Michelle Prosperi Chief Operating Officer | Officer | 40 | $293,833 |
Rebecca Secrest Senior Vice President | Officer | 40 | $205,642 |
Mark Zeizel Vice President | Officer | 40 | $194,082 |
Annette High Financial Controller | Officer | 40 | $175,042 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
North Shore Construction & Development S Construction | 12/30/21 | $110,221 |
Tensquare Consulting | 12/30/21 | $156,250 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $4,052,854 |
| Government grants | $16,144,580 |
| 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 | $20,197,434 |
| Total Program Service Revenue | $5,135,418 |
| Investment income | $197,701 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $25,530,553 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $526,552 |
| 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. | $2,143,446 |
| Compensation of current officers, directors, key employees. | $844,885 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $491,049 |
| Pension plan accruals and contributions | $69,717 |
| Other employee benefits | $153,956 |
| Payroll taxes | $123,934 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $30,114 |
| Fees for services: Accounting | $57,251 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $253,289 |
| Advertising and promotion | $9,891 |
| Office expenses | $65,399 |
| Information technology | $52,278 |
| Royalties | $0 |
| Occupancy | $1,055,975 |
| Travel | $90,038 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,819,611 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $283,261 |
| Insurance | $65,279 |
| All other expenses | $12,042 |
| Total functional expenses | $8,856,727 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $58,415,225 |
| Savings and temporary cash investments | $17,739,346 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $242,817 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $50,823,908 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $24,381 |
| Net Land, buildings, and equipment | $6,271,974 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,554,553 |
| Total assets | $137,072,204 |
| Accounts payable and accrued expenses | $976,581 |
| Grants payable | $0 |
| Deferred revenue | $311,274 |
| 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 | $62,720,075 |
| Unsecured mortgages and notes payable | $2,827,803 |
| Other liabilities | $135,883 |
| Total liabilities | $66,971,616 |
| Net assets without donor restrictions | $10,292,179 |
| Net assets with donor restrictions | $59,808,409 |
| 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 | $137,072,204 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Charter Schools Development Corporation has recieved totaling $870,000.
| Awarding Organization | Amount |
|---|---|
Csdc Property Corporation Hanover, MD PURPOSE: GENERAL OPERATIONS | $870,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Association For Clinical Chemistry Inc Washington, DC | $31,632,986 | $18,150,460 |
Susan B Anthony List Inc Arlington, VA | $6,109,204 | $16,065,131 |
Aids United Washington, DC | $16,240,693 | $19,019,266 |
Media Matters For America Washington, DC | $25,734,430 | $18,794,929 |
Lindley Academy Charter School At Birney Philadelphia, PA | $8,724,796 | $15,521,412 |
Appletree Institute For Education Innovation Inc Washington, DC | $11,136,365 | $16,950,350 |
Seton Home Study School Front Royal, VA | $19,128,742 | $13,590,541 |
Association Of Schools And Programs Of Public Health Inc Washington, DC | $11,824,583 | $12,542,035 |
Tech Impact Philadelphia, PA | $10,895,345 | $15,289,025 |
Strategic Capacity Group Inc Mclean, VA | $1,824,045 | $10,738,430 |
The Management Center Washington, DC | $13,203,217 | $17,392,064 |
Association Of American Universities Washington, DC | $12,330,287 | $10,421,026 |