Civic Intelligence

Freedom Prep Charter School

990 • Fiscal year 2017 • EIN 20-0683866

Jul 01, 2016 to Jun 30, 2017 • Filed on Feb 14, 2018

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

90th percentile

0.93x

Higher debt load relative to assets than 90% of similar nonprofits.

2017 filings • NTEE B • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

54th percentile

0.34x

Higher debt load relative to revenue than 54% of similar nonprofits.

2017 filings • NTEE B • $10M-$25M nonprofits • Source year 2017

Net Margin

40th percentile

0.4%

Higher net margin than 40% of similar nonprofits.

2017 filings • NTEE B • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

32nd percentile

$104,798

Higher top officer pay than 32% of similar nonprofits.

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

2017 filings • NTEE B • $10M-$25M nonprofits • Source year 2017

Asset Growth

96th percentile

115%

Faster asset growth than 96% of similar nonprofits.

2017 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

56th percentile

7.0%

Faster revenue growth than 56% of similar nonprofits.

2017 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2016 to 2017

Assets

Up

$5,454,864

Up $2,919,883 (+115%) from 2016

Net Assets

Up

$364,352

Up $66,013 (+22%) from 2016

Liabilities

Up

$5,090,512

Up $2,853,870 (+128%) from 2016

Revenue

Up

$14,953,925

Up $974,491 (+7.0%) from 2016

Expenses

Up

$14,887,912

Up $959,292 (+6.9%) from 2016

Net Income

Up

$66,013

Up $15,199 (+30%) from 2016

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

2017

Assets$5,454,864
Liabilities$5,090,512
Net Assets$364,352

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

2017

Revenue$14,953,925
Expenses$14,887,912
Net Income$66,013
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Feb 14, 2018
Return Version
2016v3.0
Gross Receipts
$15,287,864
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$1,616,689$2,784,483▲ $1,167,794
Accounts Receivable$261,000$753,423▲ $492,423
Pledges and Grants Receivable$516,970$40,253▼ $476,717
Land, Buildings, and Equipment, Net$34,238$31,687▼ $2,551
Prepaid Expenses and Deferred Charges$2,885$0▼ $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$2,534,981$5,454,864▲ $2,919,883
Other Assets Total$103,199$1,845,018▲ $1,741,819
Liabilities
Other Liabilities$954,886$3,156,009▲ $2,201,123
Accounts Payable and Accrued Expenses$1,280,647$1,931,315▲ $650,668
Deferred Revenue$1,109$3,188▲ $2,079
Total Liabilities$2,236,642$5,090,512▲ $2,853,870
Net Assets / Fund Balance
Unrestricted Net Assets$298,339$364,352▲ $66,013
Total Net Assets Fund Balance$298,339$364,352▲ $66,013
Total Liabilities and Net Assets / Fund Balance$2,534,981$5,454,864▲ $2,919,883

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$839,842$419,921
Buildings$31,687-$31,687
Other Assets Org$1,845,018--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Kaitlin Mc CannMid Sch PrincipalFT$104,798$104,798
Rebecca AgostinoHs Campus DirectorFT$103,481$103,481
Ronald BradyChief Sch AdminFT$85,485$85,485
Christopher LessardSch Bus AdminPT$22,500$22,500

Board Members and Trustees

NameTitle
Keisha Usher-martinPres-trustees
Amanda VegaTrustee
Carole KraemerTrustee
Mamie DoyleTrustee
Tighe BurnsTrustee
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$1,628,563
Maschios Food Service INCFood Service Mgt Ser525 E MAIN STREET, Chester, NJ 07930$596,369
Mc Gough Bus Company INCStudent TransportPO BOX 100, Sewell, NJ 08080$524,381
Ascend Construction ManagementConstruction Service12907 ETRIS WALK, Roswell, GA 30075$237,264
Bayada Home HealthcareSchool Nurse Service1415 RT 70 STE 412, Cherry Hill, NJ 08034$177,801
Revenue and Support

Revenue Composition

Contributions and Grants
$14,698,148
Program Service Revenue
$486,187
Investment Income
$0
Other Revenue
$-230,410
All Other Contributions
$64,111
Change in Net Assets
$66,013
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$8,511,860
Other Expenses$6,376,052
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$3,708,200$795,830-$4,504,030
Fees for Services Other$1,278,536$1,346,448-$2,624,984
Other Employee Benefits$1,698,793$582,929-$2,281,722
Other Salaries and Wages$930,278$795,830-$1,726,108
Occupancy$936,062$321,203-$1,257,265
Office Expenses$615,453$444,590-$1,060,043
Travel$390,648$134,048-$524,696
Insurance-$61,957-$61,957
Fees for Services Legal-$17,094-$17,094
Depreciation Depletion$9,947--$9,947
Other Expenses$341,279$918-$918
Fees for Services Accounting-$666-$666
Total Functional Expenses$9,909,196$4,978,716$0$14,887,912
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$3,028,104
Deferred Inflows of Resources-pensions$127,905
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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
Christopher Lessard
Title
Sch Bus Admin
Signed
2018-02-14
Discuss with paid preparer
Yes

Organization Details

Formed
2005
Legal Domicile
Nj
Voting Board Members
6
Independent Board Members
6
Employees
162

Preparer

Firm
Barre & Company LLC
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/TitleTxt1PRES-TRUSTEES
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IRS990/Form990PartVIISectionAGrp/TitleTxt3Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt4Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt5Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt6BD. SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt7CHIEF SCH ADMIN
IRS990/Form990PartVIISectionAGrp/TitleTxt8SCH BUS ADMIN
IRS990/Form990PartVIISectionAGrp/TitleTxt9HS CAMPUS DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10MID SCH PRINCIPAL
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IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
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IRS990/MissionDesc0TO EDUCATE RESPONSIBLE CITIZEN-SCHOLARS FOR SUCCESS IN THE COLLEGE OF THEIR CHOICE AND A LIFE OF ACTIVE CITIZENSHIP.
IRS990/MoreThan5000KToIndividualsInd0false
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IRS990/NetAssetsOrFundBalancesBOYAmt0298339
IRS990/NetAssetsOrFundBalancesEOYAmt0364352
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IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
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IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt0-333410
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
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IRS990/OccupancyGrp/ManagementAndGeneralAmt0321203
IRS990/OccupancyGrp/ProgramServicesAmt0936062
IRS990/OccupancyGrp/TotalAmt01257265
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0444590
IRS990/OfficeExpensesGrp/ProgramServicesAmt0615453
IRS990/OfficeExpensesGrp/TotalAmt01060043
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
IRS990/OtherAssetsTotalGrp/BOYAmt0103199
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IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0582929
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IRS990/OtherExpensesGrp/Desc1CAPITAL OUTLAY
IRS990/OtherExpensesGrp/Desc2OTHER
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1360096
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IRS990/OtherExpensesGrp/ProgramServicesAmt0341279
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IRS990/ProgramServiceRevenueGrp/Desc0OTHER PROGRAM REVENUE-LINE 2
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0486187
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IRS990/PYContributionsGrantsAmt013600879
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt0839842
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt0419921
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0419921
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt01845018
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IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

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
2017Detailed filing. Detailed filing data is available for this year.$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