Civic Intelligence

Freedom Prep Charter School

990 • Fiscal year 2016 • EIN 20-0683866

Jul 01, 2015 to Jun 30, 2016 • Filed on Jan 26, 2017

1000 Atlantic AvenueCamden, NJ 08104

(856) 962-0766

Siviq Scores

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

Liabilities / Assets

88th percentile

0.88x

Higher debt load relative to assets than 88% of similar nonprofits.

2016 filings • NTEE B • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

40th percentile

0.16x

Higher debt load relative to revenue than 40% of similar nonprofits.

2016 filings • NTEE B • $10M-$25M nonprofits • Source year 2016

Net Margin

42nd percentile

0.4%

Higher net margin than 42% of similar nonprofits.

2016 filings • NTEE B • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

28th percentile

$103,481

Higher top officer pay than 28% of similar nonprofits.

Top officer pay equals 0.7% of source-year revenue.

2016 filings • NTEE B • $10M-$25M nonprofits • Source year 2016

Asset Growth

15th percentile

-4.7%

Faster asset growth than 15% of similar nonprofits.

2016 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

91st percentile

31%

Faster revenue growth than 91% of similar nonprofits.

2016 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2015 to 2016

Assets

Down

$2,534,981

Down $124,881 (-4.7%) from 2015

Net Assets

Up

$298,339

Up $50,814 (+21%) from 2015

Liabilities

Down

$2,236,642

Down $175,695 (-7.3%) from 2015

Revenue

Up

$13,979,434

Up $3,337,310 (+31%) from 2015

Expenses

Up

$13,928,620

Up $3,632,133 (+35%) from 2015

Net Income

Down

$50,814

Down $294,823 (-85%) from 2015

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0-$5.0MAssets 2010: $564,672Liabilities 2010: $353,478Net Assets 2010: $211,1942010Assets 2011: $678,848Liabilities 2011: $58,023Net Assets 2011: $620,8252011Assets 2012: $1,271,361Liabilities 2012: $192,835Net Assets 2012: $1,078,5262012Assets 2013: $1,045,950Liabilities 2013: $365,234Net Assets 2013: $680,7162013Assets 2014: $1,020,773Liabilities 2014: $283,524Net Assets 2014: $737,2492014Assets 2015: $2,659,862Liabilities 2015: $2,412,337Net Assets 2015: $247,5252015Assets 2016: $2,534,981Liabilities 2016: $2,236,642Net Assets 2016: $298,3392016Assets 2017: $5,454,864Liabilities 2017: $5,090,512Net Assets 2017: $364,3522017Assets 2018: $8,555,901Liabilities 2018: $8,929,619Net Assets 2018: -$373,7182018Assets 2019: $7,369,746Liabilities 2019: $8,284,465Net Assets 2019: -$914,7192019Assets 2020: $8,425,958Liabilities 2020: $8,920,433Net Assets 2020: -$494,4752020Assets 2021: $12,014,464Liabilities 2021: $8,749,893Net Assets 2021: $3,264,5712021Assets 2022: $12,006,247Liabilities 2022: $7,626,839Net Assets 2022: $4,379,4082022Assets 2023: $11,273,151Liabilities 2023: $6,052,705Net Assets 2023: $5,220,4462023

Highlighted filing

2016

Assets$2,534,981
Liabilities$2,236,642
Net Assets$298,339

Operations Trend

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

$30M$20M$10M$0-$10MExpenses 2010: $3,560,8412010Revenue 2011: $3,729,474Expenses 2011: $3,319,843Net Income 2011: $409,6312011Revenue 2012: $4,200,681Expenses 2012: $3,742,980Net Income 2012: $457,7012012Revenue 2013: $3,743,571Expenses 2013: $4,141,381Net Income 2013: -$397,8102013Revenue 2014: $4,191,875Expenses 2014: $4,135,342Net Income 2014: $56,5332014Revenue 2015: $10,642,124Expenses 2015: $10,296,487Net Income 2015: $345,6372015Revenue 2016: $13,979,434Expenses 2016: $13,928,620Net Income 2016: $50,8142016Revenue 2017: $14,953,925Expenses 2017: $14,887,912Net Income 2017: $66,0132017Revenue 2018: $16,110,390Expenses 2018: $16,848,460Net Income 2018: -$738,0702018Revenue 2019: $16,539,337Expenses 2019: $17,080,338Net Income 2019: -$541,0012019Revenue 2020: $15,874,940Expenses 2020: $15,455,123Net Income 2020: $419,8172020Revenue 2021: $18,736,177Expenses 2021: $14,984,124Net Income 2021: $3,752,0532021Revenue 2022: $20,434,342Expenses 2022: $19,289,771Net Income 2022: $1,144,5712022Revenue 2023: $19,923,524Expenses 2023: $20,414,104Net Income 2023: -$490,5802023

Highlighted filing

2016

Revenue$13,979,434
Expenses$13,928,620
Net Income$50,814
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Jan 26, 2017
Return Version
2015v3.0
Gross Receipts
$14,303,510
Mission and Program Overview

Mission

To educate responsible citizen-scholars for success in the college of their choice and a life of active citizenship.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$2,106,914$1,616,689▼ $490,225
Pledges and Grants Receivable$335,121$516,970▲ $181,849
Accounts Receivable$145,607$261,000▲ $115,393
Land, Buildings, and Equipment, Net$46,520$34,238▼ $12,282
Prepaid Expenses and Deferred Charges-$2,885-
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$2,659,862$2,534,981▼ $124,881
Other Assets Total$25,700$103,199▲ $77,499
Liabilities
Accounts Payable and Accrued Expenses$1,466,794$1,280,647▼ $186,147
Other Liabilities$891,292$954,886▲ $63,594
Deferred Revenue$54,251$1,109▼ $53,142
Total Liabilities$2,412,337$2,236,642▼ $175,695
Net Assets / Fund Balance
Unrestricted Net Assets$247,525$298,339▲ $50,814
Total Net Assets Fund Balance$247,525$298,339▲ $50,814
Total Liabilities and Net Assets / Fund Balance$2,659,862$2,534,981▼ $124,881

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$4,528$835,314$419,921
Buildings$29,710-$29,710
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Rebecca AgostinoHs Campus DirectorFT$103,481$103,481
Kaitlin Mc CannMid Sch PrincipalFT$102,623$102,623
Ronald BradyChief Sch AdminFT$84,675$84,675
Christopher LessardSch Bus AdminPT$22,500$22,500

Board Members and Trustees

NameTitle
Keisha Usher-martinPres-trustees
Alison StohrTrustee
Amanda VegaTrustee
Carole KraemerTrustee
Tighe BurnsTrustee
Tyra Kennedy-laceyVP-trustees
Patrick DoyleAsst. Bus Admin
Benjamin FeitBd. Secretary
Sean Mc GrewTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Democracy Prep Public Schools INCCharter Mgt Org Serv1767 PARK AVE 3RD FL, New York, NY 10035$1,702,907
Maschios Food Service INCFood Service Mgt Ser525 E MAIN STREET, Chester, NJ 07930$628,118
First Student INCStudent Transport270 GLOUCESTER PIKE, Lawnside, NJ 08045$296,913
Mc Gough Bus Company INCStudent TransportPO BOX 100, Sewell, NJ 08080$252,444
Bayada Home HealthcareSchool Nurse Service1415 RT 70 STE 412, Cherry Hill, NJ 08034$201,713
Revenue and Support

Revenue Composition

Contributions and Grants
$13,600,879
Program Service Revenue
$478,974
Investment Income
$0
Other Revenue
$-100,419
All Other Contributions
$73,346
Change in Net Assets
$50,814
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$8,325,126
Other Expenses$5,603,494
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$5,008,899$1,481,384-$6,490,283
Fees for Services Other$1,210,097$1,232,673-$2,442,770
Other Employee Benefits$1,322,761$404,907-$1,727,668
Office Expenses$755,843$674,317-$1,430,160
Occupancy$914,349$279,889-$1,194,238
Travel$289,808$88,712-$378,520
Current Officers, Directors, Trustees, and Key Employees$42,338$64,837-$107,175
Insurance-$57,941-$57,941
Fees for Services Accounting-$51,016-$51,016
Depreciation Depletion$46,518--$46,518
Fees for Services Legal-$2,331-$2,331
Total Functional Expenses$9,590,613$4,338,007$0$13,928,620
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Net Pension Liability$779,293
Deferred Inflows of Resources-pensions$175,593
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
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
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

The board of trustees and designated school officials review the tax form 990 return prior to submission and filing with the irs.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Each school official and key employee, and each member of the board of trustees must complete a "school ethics/personal/relative disclosure statement," pursuant to applicable new jersey state law. These forms are filed with the appropriate governmental entities, also per applicable new jersey state law.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

Salary and compensation of the ceo/lead person of the school is reviewed and evaluated by board of trustees of the freedom prep charter school on an annual basis. In conducting such review and evaluation, factors such as personal strengths and weaknesses, as well as goals and achievements of the charter school, and comparable salary data are all given due weight and consideration. The ultimate compensation evaluation and recommendation is thereafter approved by the board of trustees of the charter school

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

Salary and compensation of officers, key employees and all teachers are reviewed and evaluated by the charter school lead person and business adminstrator on an annual basis. In conducting such review and evaluation, factors such as teacher performance, education, experience, longevity and comparable area standards for the profession, are given due weight and consideration. All such compensation evaluations and recommendations are reviewed and approved by the board of trustees of the charter school.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

No documents available to the public.

Filing and Contact Details

Filer

Filer Name
Freedom Prep Charter School
EIN
20-0683866
Phone
8569620766
Address
1000 ATLANTIC AVENUE, CAMDEN, NJ 08104

Signing Officer

Name
Patrick Doyle
Title
Business Admin
Signed
2017-01-26
Discuss with paid preparer
Yes

Organization Details

Formed
2005
Legal Domicile
Nj
Voting Board Members
7
Independent Board Members
7
Employees
162

Preparer

Firm
Barre & Co
Address
2204 MORRIS AVE STE 206, UNION, NJ 07083-5914
Preparer
Richard Barre
Phone
9086863484
Supplemental Narrative

Additional Explanations

Document Retention and Destruction Policy

The charter school follows state and federal regulations and standards governing record retention and destruction.

Whistleblower Policy

Freedom prep charter school has a written whistleblower policy which prohibits discrimination or retaliation against any school employee who: (1) discloses or threatens to disclose to a supervisor or appropriate entity a policy or practice which the employee reasonably believes is in violation of law; (2) provides information to any public body conducting an investigation or inquiry into any alleged violation of law; or (3) objects to, or refuses to participate in any activity, policy or practice which the employee reasonably believes is in violation of law, is fraudulent or criminal, or is incompatible with public health or safety.

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IRS990/Form990PartVIISectionAGrp/TitleTxt9CHIEF SCH ADMIN
IRS990/Form990PartVIISectionAGrp/TitleTxt10SCH BUS ADMIN
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IRS990/LocalChaptersInd0false
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IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
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IRS990/MissionDesc0TO EDUCATE RESPONSIBLE CITIZEN-SCHOLARS FOR SUCCESS IN THE COLLEGE OF THEIR CHOICE AND A LIFE OF ACTIVE CITIZENSHIP.
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IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
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IRS990/OtherAssetsTotalGrp/EOYAmt0103199
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0404907
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt0835314
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1NET PENSION LIABILITY
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IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
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IRS990ScheduleE/MaintainRacialCompRecsInd0true
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE CHARTER SCHOOL RECEIVES PUBLIC ASSISTANCE BY WAY OF PERCENTAGE OF LOCAL TAX LEVY PURSUANT TO REGULATIONS PROMULGATED BY THE STATE OF NEW JERSEY DEPARTMENT OF EDUCATION. IN ADDITION, THE CHARTER SCHOOL RECEIVES FEDERAL ASSISTANCE BY WAY OF GRANTS FROM NCLB/TITLE I AND I.D.E.A. PROGRAMS. OTHER FINANCIAL ASSISTANCE FROM GOVERNMENTAL PROGRAMS IS ALSO AVAILABLE VIA APPLICATION.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1FREEDOM PREP CHARTER SCHOOL MAINTAINS A RACIALLY NONDISCRIMINATORY POLICY TOWARDS ALL STUDENTS, IN THAT THE CHARTER SCHOOL DOES NOT DISCRIMINATE AGAINST ANY STUDENT, OR EMPLOYEE, FOR REASONS OF RACE, COLOR, CREED, SEX, AGE, RELIGION, ETHNIC ORIGIN, FAMILY AFFILIATION, DISABILITIES, SOCIAL OR ECONOMIC STATUS, MARITAL STATUS, SEXUAL ORIENTATION, OR BECAUSE OF LIABILITY FOR SERVICE IN THE UNITED STATES ARMED FORCES. THE RACIALLY NONDISCRIMINATORY POLICY IS CONTAINED IN THE SCHOOL BY-LAWS AND IS COMMUNICATED TO STUDENTS AND PARENTS. THE SCHOOL INTENDS TO PUBLISH THIS POLICY IN ITS BROCHURE AND ON ITS WEBSITE.IN ADDITION, FREDDOM PREP CHARTER SCHOOL CUSTOMARILY DRAWS ITS STUDENTS FROM LOCAL COMMUNITIES, AND FURTHER, THE CHARTER SCHOOL ENROLLS STUDENTS OF RACIAL MINORITY GROUPS IN MEANINGFUL NUMBERS.

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.3$6.05$5.22$19.9$20.4$0.49
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.0$7.63$4.38$20.4$19.3$1.14
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.0$8.75$3.26$18.7$15.0$3.75
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.43$8.92$0.49$15.9$15.5$0.42
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.37$8.28$0.91$16.5$17.1$0.54
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.56$8.93$0.37$16.1$16.8$0.74
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.45$5.09$0.36$15.0$14.9$0.07
2016Detailed filing. Detailed filing data is available for this year.$2.53$2.24$0.30$14.0$13.9$0.05
2015Detailed filing. Detailed filing data is available for this year.$2.66$2.41$0.25$10.6$10.3$0.35
2014Summary only. Only limited summary data is available for this year.$1.02$0.28$0.74$4.19$4.14$0.06
2013Summary only. Only limited summary data is available for this year.$1.05$0.37$0.68$3.74$4.14$0.40
2012Summary only. Only limited summary data is available for this year.$1.27$0.19$1.08$4.20$3.74$0.46
2011Summary only. Only limited summary data is available for this year.$0.68$0.06$0.62$3.73$3.32$0.41
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.56$0.35$0.21$3.56
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2016 filings • 501(c)3 • $10M-$25M nonprofits