Civic Intelligence

Team Academy Charter School Inc

EIN 01-0660264 • 501(c)3 • Newark, NJ

Profile

The team academy charter school is a new jersey public school overseen by the state of new jersey department of education. The school offers an academic program to assist children in discovering their talents and provides a community resource and a means to unite parents and teachers.

60 Park Place 802Newark, NJ 07102

www.teamacademy.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

87th percentile

0.91x

Higher debt load relative to assets than 87% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2023

Liabilities / Revenue

79th percentile

1.42x

Higher debt load relative to revenue than 79% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2023

Net Margin

50th percentile

4.2%

Higher net margin than 50% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2023

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

85th percentile

20%

Faster asset growth than 85% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2022 to 2023

Revenue Growth

58th percentile

9.7%

Faster revenue growth than 58% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2022 to 2023

Assets

Up

$269,406,142

Up $24,572,039 (+10%) from 2023

Liabilities

Up

$234,262,975

Up $12,158,759 (+5.5%) from 2023

Net Assets

Up

$35,143,167

Up $12,413,280 (+55%) from 2023

Revenue

Up

$177,408,917

Up $20,477,667 (+13%) from 2023

Expenses

Up

$164,995,637

Up $14,698,085 (+9.8%) from 2023

Net Income

Up

$12,413,280

Up $5,779,582 (+87%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$300M$200M$100M$0Assets 2010: $2,763,791Liabilities 2010: $1,228,893Net Assets 2010: $1,534,8982010Assets 2011: $3,666,011Liabilities 2011: $1,310,457Net Assets 2011: $2,355,5542011Assets 2012: $6,602,925Liabilities 2012: $2,354,141Net Assets 2012: $4,248,7842012Assets 2013: $12,094,350Liabilities 2013: $5,162,813Net Assets 2013: $6,931,5372013Assets 2014: $12,862,420Liabilities 2014: $3,627,286Net Assets 2014: $9,235,1342014Assets 2015: $12,679,776Liabilities 2015: $2,273,217Net Assets 2015: $10,406,5592015Assets 2016: $13,406,250Liabilities 2016: $3,807,317Net Assets 2016: $9,598,9332016Assets 2017: $14,425,080Liabilities 2017: $5,799,128Net Assets 2017: $8,625,9522017Assets 2018: $16,145,867Liabilities 2018: $6,190,267Net Assets 2018: $9,955,6002018Assets 2019: $45,736,348Liabilities 2019: $40,856,812Net Assets 2019: $4,879,5362019Assets 2020: $45,426,525Liabilities 2020: $41,217,495Net Assets 2020: $4,209,0302020Assets 2021: $62,784,056Liabilities 2021: $55,017,615Net Assets 2021: $7,766,4412021Assets 2022: $203,861,909Liabilities 2022: $187,765,720Net Assets 2022: $16,096,1892022Assets 2023: $244,834,103Liabilities 2023: $222,104,216Net Assets 2023: $22,729,8872023Assets 2024: $269,406,142Liabilities 2024: $234,262,975Net Assets 2024: $35,143,1672024

Highlighted filing

2024

Assets$269,406,142
Liabilities$234,262,975
Net Assets$35,143,167

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$200M$150M$100M$50M$0-$50MExpenses 2010: $19,452,9292010Expenses 2011: $25,310,3542011Expenses 2012: $29,490,0052012Revenue 2013: $39,891,786Expenses 2013: $37,209,033Net Income 2013: $2,682,7532013Revenue 2014: $49,007,700Expenses 2014: $46,704,103Net Income 2014: $2,303,5972014Revenue 2015: $59,593,903Expenses 2015: $58,422,478Net Income 2015: $1,171,4252015Revenue 2016: $67,380,739Expenses 2016: $68,188,365Net Income 2016: -$807,6262016Revenue 2017: $76,176,227Expenses 2017: $77,149,208Net Income 2017: -$972,9812017Revenue 2018: $82,606,764Expenses 2018: $81,277,116Net Income 2018: $1,329,6482018Revenue 2019: $92,566,192Expenses 2019: $90,061,878Net Income 2019: $2,504,3142019Revenue 2020: $98,943,862Expenses 2020: $99,614,368Net Income 2020: -$670,5062020Revenue 2021: $112,036,254Expenses 2021: $108,478,843Net Income 2021: $3,557,4112021Revenue 2022: $143,042,988Expenses 2022: $134,713,240Net Income 2022: $8,329,7482022Revenue 2023: $156,931,250Expenses 2023: $150,297,552Net Income 2023: $6,633,6982023Revenue 2024: $177,408,917Expenses 2024: $164,995,637Net Income 2024: $12,413,2802024

Highlighted filing

2024

Revenue$177,408,917
Expenses$164,995,637
Net Income$12,413,280

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$269$234$35.1$177$165$12.4
2023Detailed filing. Detailed filing data is available for this year.$245$222$22.7$157$150$6.63
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$204$188$16.1$143$135$8.33
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$62.8$55.0$7.77$112$108$3.56
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$45.4$41.2$4.21$98.9$99.6$0.67
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$45.7$40.9$4.88$92.6$90.1$2.50
2018Detailed filing. Detailed filing data is available for this year.$16.1$6.19$9.96$82.6$81.3$1.33
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.4$5.80$8.63$76.2$77.1$0.97
2016Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$13.4$3.81$9.60$67.4$68.2$0.81
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.7$2.27$10.4$59.6$58.4$1.17
2014Detailed filing. Detailed filing data is available for this year.$12.9$3.63$9.24$49.0$46.7$2.30
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$12.1$5.16$6.93$39.9$37.2$2.68
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.60$2.35$4.25$29.5
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.67$1.31$2.36$25.3
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.76$1.23$1.53$19.5
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 7, 2025
Return Version
2023v6.0
Gross Receipts
$177,408,917
Mission and Program Overview

Mission

The Team Academy Charter School is a New Jersey Public School over seen by the State of New Jersey Dept of Education. The School offers an academic program to assist children in discovering their talents and provides a community resource and a means to unite parents and teachers.

Team academy charter school is a free, open enrollment, college-preparatory public school dedicated to preparing students in underserved communities for success in college and life.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$28,304,579$39,975,417▲ $11,670,838
Cash and Non-Interest-Bearing Accounts$27,481,619$33,384,470▲ $5,902,851
Land, Buildings, and Equipment, Net$23,630,620$23,960,409▲ $329,789
Investments in Publicly Traded Securities-$14,452,160-
Pledges and Grants Receivable$11,395,438$13,535,763▲ $2,140,325
Prepaid Expenses and Deferred Charges$1,351,972$912,820▼ $439,152
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$-5,574,692$-4,832,250▲ $742,442
Total Assets$244,834,103$269,406,142▲ $24,572,039
Other Assets Total$180,974,454$183,160,520▲ $2,186,066
Liabilities
Other Liabilities$193,673,347$210,582,216▲ $16,908,869
Mortgage Notes Payable Secured by Investment Property$21,114,999$16,781,154▼ $4,333,845
Accounts Payable and Accrued Expenses$7,315,870$6,034,103▼ $1,281,767
Deferred Revenue-$865,502-
Total Liabilities$222,104,216$234,262,975▲ $12,158,759
Net Assets / Fund Balance
Total Net Assets Fund Balance$22,729,887$35,143,167▲ $12,413,280
Total Liabilities and Net Assets / Fund Balance$244,834,103$269,406,142▲ $24,572,039

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$13,022,077$1,480,162$14,502,239
Leasehold Improvements$9,477,321$3,807,807$13,285,128
Equipment$837,020$2,151,848$2,988,868
Land$475,900-$475,900
Other Land Buildings$148,091-$148,091
Other Assets Org$148,717,483--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jenna MarcusHead of SchoolsFT$184,980$32,005$216,985
Kyle MeachamManaging DirectorFT$200,874$11,698$212,572
Lisa BonnifieldHead of SchoolsFT$172,434$31,705$204,139
Jeffrey WeberManaging Director of OperationsFT$153,374$32,005$185,379
Kara BrockettManaging DirectorFT$152,059$32,005$184,064

Board Members and Trustees

NameTitle
Tim CardenBoard President
Joanna BelcherExecutive Director
Ihsaan BrownTrustee
Julie KeenanTrustee
Karen Leach-toomerTrustee
Kevin MorrisonTrustee
Rasheen PeppersTrustee
Tafshier CosbyTrustee
Vince MarignaTrustee
Steve SmallCFO

Highest Paid Contractors

ContractorServicesLocationCompensation
Dicara Rubino ArchitectsConstruction Services35 WATERVIEW BLVD SUITE 303, Parsippany, NJ 07054$1,571,678
Ktc Nyc LLCEducational Services1501 BROADWAY SUITE 1000, New York, NY 10036$937,766
Essex Regional Educational Services CommEducational Services333 FAIRFIELD ROAD, Fairfield, NJ 07004$855,627
Education Facility Management LLCJanitorial Services1909 FAIRFAX AVE STE B, Cherry Hill Township, NJ 08003$796,985
AmproPrinting/advertising Services30 BUNTING LANE, Primos, PA 19018$671,008
Revenue and Support

Revenue Composition

Contributions and Grants
$175,803,982
Program Service Revenue
$111,222
Investment Income
$1,493,713
Other Revenue
$0
All Other Contributions
$5,159,804
Change in Net Assets
$12,413,280

Audited Revenue Reconciliation

Revenue per Audited Statements
$177,408,917
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$177,408,917
Total Revenue per Form 990
$177,408,917
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$88,037,265
Other Expenses$76,958,372
Total Fundraising Expense$926,032
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$59,311,011$8,572,515-$67,883,526
Fees for Services Other$557,940$17,468,887$926,032$18,952,859
Depreciation Depletion$7,803,595$1,127,892-$8,931,487
Pension Plan Contributions$6,447,109$931,833-$7,378,942
Other Employee Benefits$5,961,433$861,635-$6,823,068
Interest$5,288,845$764,423-$6,053,268
Other Expenses$5,979,313$1,550,109-$5,979,313
Payroll Taxes$5,200,129$751,600-$5,951,729
Occupancy$2,659,914$384,451-$3,044,365
Insurance$826,092$119,399-$945,491
Fees for Services Legal-$101,215-$101,215
Fees for Services Accounting-$89,750-$89,750
Total Functional Expenses$129,293,034$34,776,571$926,032$164,995,637

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$164,995,637
Total Expenses per Audited Statements$164,995,637
Total Expenses per Form 990$164,995,637
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liabilties$160,728,988
Net Pension Liability$44,988,578
Pension Deferred Inflows$2,910,400
Other Accounts Payable$1,954,250
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

The organization delegates control over management duties to kipp team and family schools, a nj nonprofit corporation.

Form 990, Part VI, Section B, Line 11B

The school reviews the form 990 with the outside auditor before filing.

Form 990, Part VI, Section B, Line 12C

The board adheres to the conflict of interest policy as prescribed by the nj department of education.

Form 990, Part VI, Section B, Line 15

The board reviews and approves all salaries.

Form 990, Part VI, Section C, Line 19

All governing documents, conflict of interest policies and financial statements are available to the public by contacting the administration at the school.

FORM 990, PART VII, LINE 1A:

The executive director is an employee of the charter management organization (cmo) and compensated by the cmo rather than the school.

Filing and Contact Details

Filer

Filer Name
Team Academy Charter School Inc
EIN
01-0660264
Phone
9737052309
Address
60 PARK PLACE 802, NEWARK, NJ 07102

Signing Officer

Name
Erica Grohman
Title
Current CFO
Phone
9737052309
Signed
2025-05-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Erica Grohman
Formed
2002
Legal Domicile
Nj
Voting Board Members
8
Independent Board Members
8
Employees
1,336
Volunteers
8

Preparer

Firm
Aafcpas Inc
Address
50 WASHINGTON STREET, WESTBOROUGH, MA 01581
Preparer
Caitlin Limoges CPA
Phone
5083669100
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Other professional fees: program service expenses 557,940. Management and general expenses 17,468,887. Fundraising expenses 926,032. Total expenses 18,952,859.

FORM 990, PART XII, LINE 2C:

The board of trustees assumes responsibility for oversight of the audit of its financial statement and the selection of an independent accountant.

Raw XML AppendixShowing 400 of 653 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd00
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IRS990/AccountsPayableAccrExpnssGrp/EOYAmt06034103
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0TEAM ACADEMY CHARTER SCHOOL IS A FREE, OPEN ENROLLMENT, COLLEGE-PREPARATORY PUBLIC SCHOOL DEDICATED TO PREPARING STUDENTS IN UNDERSERVED COMMUNITIES FOR SUCCESS IN COLLEGE AND LIFE.
IRS990/AllOtherContributionsAmt05159804
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/AuditCommitteeInd01
IRS990/BackupWthldComplianceInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0ERICA GROHMAN
IRS990/BooksInCareOfDetail/PhoneNum09737052309
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt060 PARK PLACE 802
IRS990/BooksInCareOfDetail/USAddress/CityNm0NEWARK
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0NJ
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IRS990/CollectionsOfArtInd00
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd01
IRS990/CompensationProcessOtherInd01
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IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/ContractorCompensationGrp/CompensationAmt01571678
IRS990/ContractorCompensationGrp/CompensationAmt1937766
IRS990/ContractorCompensationGrp/CompensationAmt2855627
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IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt1KTC NYC LLC
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt2ESSEX REGIONAL EDUCATIONAL SERVICES COMM
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt3EDUCATION FACILITY MANAGEMENT LLC
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt4AMPRO
IRS990/ContractorCompensationGrp/ServicesDesc0CONSTRUCTION SERVICES
IRS990/ContractorCompensationGrp/ServicesDesc1EDUCATIONAL SERVICES
IRS990/ContractorCompensationGrp/ServicesDesc2EDUCATIONAL SERVICES
IRS990/ContractorCompensationGrp/ServicesDesc3JANITORIAL SERVICES
IRS990/ContractorCompensationGrp/ServicesDesc4PRINTING/ADVERTISING SERVICES
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt0175803982
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt01493713
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IRS990/CYOtherRevenueAmt00
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IRS990/DepreciationDepletionGrp/TotalAmt08931487
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IRS990/EmploymentTaxReturnsFiledInd01
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IRS990/FeesForServicesAccountingGrp/TotalAmt089750
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IRS990/FeesForServicesLegalGrp/TotalAmt0101215
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IRS990/FeesForServicesOtherGrp/ProgramServicesAmt0557940
IRS990/FeesForServicesOtherGrp/TotalAmt018952859
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IRS990/ForeignFinancialAccountInd00
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IRS990/Form990PartVIISectionAGrp/TitleTxt11HEAD OF SCHOOLS
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IRS990/MissionDesc0THE TEAM ACADEMY CHARTER SCHOOL IS A NEW JERSEY PUBLIC SCHOOL OVERSEEN BY THE STATE OF NEW JERSEY DEPARTMENT OF EDUCATION. THE SCHOOL OFFERS AN ACADEMIC PROGRAM TO ASSIST CHILDREN IN DISCOVERING THEIR TALENTS AND PROVIDES A COMMUNITY RESOURCE AND A MEANS TO UNITE PARENTS AND TEACHERS.
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0OTHER ACCOUNTS PAYABLE
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