Civic Intelligence

River Valley Charter School Foundation Inc.

990 • Fiscal year 2023 • EIN 04-3462020

Jul 01, 2022 to Jun 30, 2023 • Filed on Feb 28, 2024

Organization ProfileN/A
2 Perry WayNewburyport, MA 01950

(978) 465-0065

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

92nd percentile

0.91x

Higher debt load relative to assets than 92% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

98th percentile

15.21x

Higher debt load relative to revenue than 98% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Net Margin

23rd percentile

-8.6%

Higher net margin than 23% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Asset Growth

25th percentile

-1.9%

Faster asset growth than 25% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

26th percentile

-9.8%

Faster revenue growth than 26% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Down

$6,439,053

Down $126,058 (-1.9%) from 2022

Net Assets

Down

$598,470

Down $33,037 (-5.2%) from 2022

Liabilities

Down

$5,840,583

Down $93,021 (-1.6%) from 2022

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin23rd percentile

Revenue

Down

$384,055

Down $41,732 (-9.8%) from 2022

Expenses

Up

$417,092

Up $81,266 (+24%) from 2022

Net Income

Down

-$33,037

Down $122,998 (-137%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth25th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$8.0M$6.0M$4.0M$2.0M$0Assets 2012: $568,493Liabilities 2012: $21,225Net Assets 2012: $547,2682012Assets 2013: $5,068,781Liabilities 2013: $4,550,552Net Assets 2013: $518,2292013Assets 2014: $4,756,808Liabilities 2014: $4,423,674Net Assets 2014: $333,1342014Assets 2015: $4,643,604Liabilities 2015: $4,300,522Net Assets 2015: $343,0822015Assets 2016: $4,552,070Liabilities 2016: $4,176,528Net Assets 2016: $375,5422016Assets 2017: $4,596,367Liabilities 2017: $4,121,467Net Assets 2017: $474,9002017Assets 2018: $4,482,014Liabilities 2018: $4,095,552Net Assets 2018: $386,4622018Assets 2019: $7,063,035Liabilities 2019: $6,628,908Net Assets 2019: $434,1272019Assets 2020: $6,815,175Liabilities 2020: $6,388,410Net Assets 2020: $426,7652020Assets 2021: $6,837,206Liabilities 2021: $6,162,201Net Assets 2021: $675,0052021Assets 2022: $6,565,111Liabilities 2022: $5,933,604Net Assets 2022: $631,5072022Assets 2023: $6,439,053Liabilities 2023: $5,840,583Net Assets 2023: $598,4702023Assets 2024: $6,093,809Liabilities 2024: $5,467,120Net Assets 2024: $626,6892024Assets 2025: $6,072,178Liabilities 2025: $5,241,115Net Assets 2025: $831,0632025

Highlighted filing

2023

Assets$6,439,053
Liabilities$5,840,583
Net Assets$598,470
Open 2023 Filing

Operations Trend

Revenue Growth26th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KRevenue 2012: $71,001Expenses 2012: $105,527Net Income 2012: -$34,5262012Revenue 2013: $164,616Expenses 2013: $210,706Net Income 2013: -$46,0902013Revenue 2014: $247,652Expenses 2014: $332,513Net Income 2014: -$84,8612014Revenue 2015: $292,879Expenses 2015: $274,940Net Income 2015: $17,9392015Revenue 2016: $294,384Expenses 2016: $261,316Net Income 2016: $33,0682016Revenue 2017: $345,778Expenses 2017: $267,545Net Income 2017: $78,2332017Revenue 2018: $305,716Expenses 2018: $396,088Net Income 2018: -$90,3722018Revenue 2019: $441,554Expenses 2019: $717,888Net Income 2019: -$276,3342019Revenue 2020: $416,040Expenses 2020: $424,604Net Income 2020: -$8,5642020Revenue 2021: $518,560Expenses 2021: $348,311Net Income 2021: $170,2492021Revenue 2022: $425,787Expenses 2022: $335,826Net Income 2022: $89,9612022Revenue 2023: $384,055Expenses 2023: $417,092Net Income 2023: -$33,0372023Revenue 2024: $409,071Expenses 2024: $380,852Net Income 2024: $28,2192024Revenue 2025: $446,702Expenses 2025: $266,269Net Income 2025: $180,4332025

Highlighted filing

2023

Revenue$384,055
Expenses$417,092
Net Income-$33,037
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Feb 28, 2024
Return Version
2022v5.0
Gross Receipts
$384,055
Mission and Program Overview

Mission

Raise, distribute and steward funds on behalf of the river valley charter school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$3,043,986$2,948,434▼ $95,552
Land, Buildings, and Equipment, Net$2,850,705$2,714,973▼ $135,732
Savings and Temporary Cash Investments$285,117$419,597▲ $134,480
Investments Other Securities$375,158$336,494▼ $38,664
Cash and Non-Interest-Bearing Accounts$10,145$19,555▲ $9,410
Total Assets$6,565,111$6,439,053▼ $126,058
Liabilities
Tax Exempt Bond Liabilities$3,043,986$2,948,434▼ $95,552
Deferred Revenue$2,888,618$2,751,065▼ $137,553
Grants Payable-$140,000-
Accounts Payable and Accrued Expenses-$1,084-
Other Liabilities$1,000--
Total Liabilities$5,933,604$5,840,583▼ $93,021
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$617,064$582,108▼ $34,956
Net Assets With Donor Restrictions$14,443$16,362▲ $1,919
Total Net Assets Fund Balance$631,507$598,470▼ $33,037
Total Liabilities and Net Assets / Fund Balance$6,565,111$6,439,053▼ $126,058

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,714,973$1,635,467$4,350,440
Equipment$0$16,180$16,180
Leasehold Improvements$0$7,858$7,858
Investment Program Related Org$2,948,434--
Other Securities$336,494--
Compensation and Service Providers
Top Officer Pay22nd percentile

Board Members and Trustees

NameTitle
Sonia SuelenPresident
Caroline ZappasodiBoard Member
Chris GetzBoard Member
Jennifer StinsonBoard Member
Lydia Supple-pollardBoard Member
Melissa LugoBoard Member
Scott MacdonaldBoard Member
Jenn TramontanaSecretary
Mark BishopTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$98,199
Program Service Revenue
$253,842
Investment Income
$32,014
Other Revenue
$0
All Other Contributions
$98,199
Change in Net Assets
$-33,037
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$277,092
Grants and Similar Amounts Paid$140,000
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$140,000--$140,000
Depreciation Depletion$135,732--$135,732
Interest$111,566--$111,566
Fees for Services Accounting-$22,661-$22,661
Fees for Services Other-$3,363-$3,363
Advertising$1,680--$1,680
Office Expenses-$972-$972
Insurance$747--$747
Travel$371--$371
Total Functional Expenses$390,096$26,996$0$417,092
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
River Valley Charter SchoolNewburyport, MA170(b)(1)(a)(v)Various Programs and Capital Improvements$140,000
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“Tax return is reviewed by the treasurer, with accounting firm consultation, as needed and presented to the foundation's board of directors at the following meeting.”

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

“The foundation reqiures all board members to complete and sign off on the conflict of interest form on an annual basis. All forms are kept on file.”

Form 990, Part VI, Section C, Line 19

“The organization makes the information available upon request.”

Filing and Contact Details

Filer

Filer Name
River Valley Charter School Foundation
EIN
04-3462020
Phone
9784650065
Address
2 PERRY WAY, NEWBURYPORT, MA 01950

Signing Officer

Name
Sonia Suelen
Title
President
Phone
9784650065
Signed
2024-02-28

Organization Details

Principal Officer
Sonia Suelen
Formed
2003
Legal Domicile
Ma
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
9

Preparer

Firm
Daniel Dennis & Company Llp
Address
990 WASHINGTON STREET STE 203, DEDHAM, MA 02026
Preparer
COLLEEN D'ALFONSO
Phone
6172629898
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The foundation board of trustees oversees the selection of our auditors. The foundation board meets with the auditors at the conclusion of the audit to review the results. There has been no change to this process in the fiscal year 2023.”

Financial Statement Notes

PART X, LINE 2:

“The foundation accounts for uncertainty in income taxes in accordance with asc topic, income taxes. This standard clarifies the accounting for uncertainty in tax positions and prescribes a recognition threshold and measurement attribute for the financial statements regarding a tax position taken or expected to be taken in a tax return. The foundation has determined that there are no uncertain tax positions which qualify for either recognition or disclosure in the financial statements at june 30, 2023. The foundation's information returns are subject to examination by the federal and state jurisdictions.”

Raw XML AppendixShowing 400 of 421 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.

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IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd00
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IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd01
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0RIVER VALLEY CHARTER SCHOOL IS A GOVERNMENTAL UNIT CHARTERED BY THE COMMONWEALTH OF MASSACHUSETTS. RIVER VALLEY CHARTER SCHOOL QUALIFIES UNDER SECTION 509(A)(1) AS A GOVERNMENTAL UNIT.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION A, LINE 2:
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt01635467
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt04350440
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt016180
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt016180
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt02948434
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0CAPITAL LEASE OBLIGATION RECEIVABLE
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt07858
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IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt0336494
IRS990ScheduleD/OtherSecuritiesGrp/Desc0INVESTMENTS
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE FOUNDATION HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS AT JUNE 30, 2023. THE FOUNDATION'S INFORMATION RETURNS ARE SUBJECT TO EXAMINATION BY THE FEDERAL AND STATE JURISDICTIONS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleD/TotalBookValueProgramRltdAmt02948434
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IRS990ScheduleI/RecipientTable/CashGrantAmt0140000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0170(B)(1)(A)(V)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0VARIOUS PROGRAMS AND CAPITAL IMPROVEMENTS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0RIVER VALLEY CHARTER SCHOOL
IRS990ScheduleI/RecipientTable/RecipientEIN0043456153
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt02 PERRY WAY
IRS990ScheduleI/RecipientTable/USAddress/CityNm0NEWBURYPORT
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0MA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd001950
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0RVCS FOUNDATION RECEIVES AN ACCOUNTING OF ALL GRANT FUND DISBURSEMENTS FROM THE BENEFICIARY. THIS INFORMATION IS MAINTAINED IN SPECIFICALLY DESIGNATED FILES.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleI/Total501c3OrgCnt01
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TAX RETURN IS REVIEWED BY THE TREASURER, WITH ACCOUNTING FIRM CONSULTATION, AS NEEDED AND PRESENTED TO THE FOUNDATION'S BOARD OF DIRECTORS AT THE FOLLOWING MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FOUNDATION REQIURES ALL BOARD MEMBERS TO COMPLETE AND SIGN OFF ON THE CONFLICT OF INTEREST FORM ON AN ANNUAL BASIS. ALL FORMS ARE KEPT ON FILE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES THE INFORMATION AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FOUNDATION BOARD OF TRUSTEES OVERSEES THE SELECTION OF OUR AUDITORS. THE FOUNDATION BOARD MEETS WITH THE AUDITORS AT THE CONCLUSION OF THE AUDIT TO REVIEW THE RESULTS. THERE HAS BEEN NO CHANGE TO THIS PROCESS IN THE FISCAL YEAR 2023.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XII, LINE 2C:
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IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
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IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
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IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0390096
IRS990/TotalFunctionalExpensesGrp/TotalAmt0417092
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
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ReturnHeader/BusinessOfficerGrp/SignatureDt02024-02-28
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ReturnHeader/Filer/PhoneNum09784650065

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,439,053
Liabilities
$5,840,583
Net assets
$598,470
Revenue
$384,055
Expenses
$417,092
Net income
-$33,037
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.07$5.24$0.83$0.45$0.27$0.18
2024Detailed filing. Detailed filing data is available for this year.$6.09$5.47$0.63$0.41$0.38$0.03
2023Detailed filing. Detailed filing data is available for this year.$6.44$5.84$0.60$0.38$0.42$0.03
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.57$5.93$0.63$0.43$0.34$0.09
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.84$6.16$0.68$0.52$0.35$0.17
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.82$6.39$0.43$0.42$0.42$0.01
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.06$6.63$0.43$0.44$0.72$0.28
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.48$4.10$0.39$0.31$0.40$0.09
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.60$4.12$0.47$0.35$0.27$0.08
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.55$4.18$0.38$0.29$0.26$0.03
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.64$4.30$0.34$0.29$0.27$0.02
2014Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$4.76$4.42$0.33$0.25$0.33$0.08
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.07$4.55$0.52$0.16$0.21$0.05
2012Summary only. Only limited summary data is available for this year.$0.57$0.02$0.55$0.07$0.11$0.03