Civic Intelligence

Freedom Prep Charter School

990 • Fiscal year 2019 • EIN 20-0683866

Jul 01, 2018 to Jun 30, 2019 • Filed on May 01, 2020

Organization Profilewww.democracyprep.org
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

93rd percentile

1.12x

Higher debt load relative to assets than 93% of similar nonprofits.

2019 filings • NTEE B • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

64th percentile

0.50x

Higher debt load relative to revenue than 64% of similar nonprofits.

2019 filings • NTEE B • $10M-$25M nonprofits • Source year 2019

Net Margin

24th percentile

-3.3%

Higher net margin than 24% of similar nonprofits.

2019 filings • NTEE B • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

33rd percentile

$113,531

Higher top officer pay than 33% of similar nonprofits.

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

2019 filings • NTEE B • $10M-$25M nonprofits • Source year 2019

Asset Growth

6th percentile

-14%

Faster asset growth than 6% of similar nonprofits.

2019 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

42nd percentile

2.7%

Faster revenue growth than 42% of similar nonprofits.

2019 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Down

$7,369,746

Down $1,186,155 (-14%) from 2018

Net Assets

Down

-$914,719

Down $541,001 (-145%) from 2018

Liabilities

Down

$8,284,465

Down $645,154 (-7.2%) from 2018

Revenue And Expenses
Liabilities / Revenue64th percentileNet Margin24th percentile

Revenue

Up

$16,539,337

Up $428,947 (+2.7%) from 2018

Expenses

Up

$17,080,338

Up $231,878 (+1.4%) from 2018

Net Income

Up

-$541,001

Up $197,069 (+27%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth6th percentile

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

2019

Assets$7,369,746
Liabilities$8,284,465
Net Assets-$914,719
Open 2019 Filing

Operations Trend

Revenue Growth42nd percentile

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

2019

Revenue$16,539,337
Expenses$17,080,338
Net Income-$541,001
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
May 1, 2020
Return Version
2018v3.1
Gross Receipts
$16,942,522
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$1,908,429$2,594,812▲ $686,383
Pledges and Grants Receivable$1,023,430$1,222,222▲ $198,792
Accounts Receivable$587,553$223,577▼ $363,976
Land, Buildings, and Equipment, Net$32,201$107,909▲ $75,708
Prepaid Expenses and Deferred Charges$165,331$77,980▼ $87,351
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$8,555,901$7,369,746▼ $1,186,155
Other Assets Total$4,838,957$3,143,246▼ $1,695,711
Liabilities
Other Liabilities$6,896,229$5,935,476▼ $960,753
Accounts Payable and Accrued Expenses$2,033,390$2,338,325▲ $304,935
Deferred Revenue-$10,664-
Total Liabilities$8,929,619$8,284,465▼ $645,154
Net Assets / Fund Balance
Unrestricted Net Assets$-373,718$-914,719▼ $541,001
Total Net Assets Fund Balance$-373,718$-914,719▼ $541,001
Total Liabilities and Net Assets / Fund Balance$8,555,901$7,369,746▼ $1,186,155

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$107,909$450,368$558,277
Other Assets Org$3,143,246--
Compensation and Service Providers
Top Officer Pay33rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
KAITLIN McCANNMiddle PrincipaFT$113,531$113,531
Rebecca AgostinoHs PrincipalFT$113,513$113,513
Latoya PearsonElem. PrincipalFT$103,040$103,040
Chris LessardSch Bus AdminPT$45,900$45,900

Board Members and Trustees

NameTitle
Keisha Usher-martinPres-trustees
Anna RussoTrustee
Carole KraemerTrustee
Thomas VarelaTrustee
Tighe BurnsTrustee
Margaret MarrerChief Sch Admin
Sean Mc GrewTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Maschios Food Service INCFood Service Mgt Ser525 E MAIN STREET, Chester, NJ 07930$721,776
Sta Travel INCTravel Agency-$133,559
Cheerful ChatterSpeech Services-$111,272
Revenue and Support

Revenue Composition

Contributions and Grants
$16,275,286
Program Service Revenue
$580,793
Investment Income
$1,915
Other Revenue
$-318,657
All Other Contributions
$83,014
Change in Net Assets
$-541,001
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$10,737,677
Other Expenses$6,342,661
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$5,400,785$1,281,610-$6,682,395
Other Employee Benefits$2,441,064$901,433-$3,342,497
Fees for Services Management$1,834,461$677,427-$2,511,888
Occupancy$827,896$305,724-$1,133,620
Office Expenses$595,491$416,158-$1,011,649
Other Expenses$536,748$198,210-$734,958
Current Officers, Directors, Trustees, and Key Employees-$712,785-$712,785
Fees for Services Accounting-$65,491-$65,491
Insurance-$62,891-$62,891
Interest-$19,639-$19,639
Fees for Services Legal-$15,928-$15,928
Depreciation Depletion$14,627--$14,627
Total Functional Expenses$12,214,851$4,865,487$0$17,080,338
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$3,521,389
Deferred Inflows of Resources-pensions$2,414,087
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
David Rouse
Title
Sch Bus Admin
Signed
2020-05-01
Discuss with paid preparer
Yes

Organization Details

Formed
2005
Legal Domicile
Nj
Voting Board Members
6
Independent Board Members
6
Employees
167

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

“Democracy Prep strictly forbids retaliation against any employee for exercising a legal right, for making a complaint in good faith about perceived unlawful behavior (either internally or to an appropriate governmental authority), or for providing truthful information in an internal or governmental investigation of a complaint. Retaliatory acts include any materially adverse action taken because an individual has made a complaint under this policy, assisted another in making such a complaint, participated in an investigation of a complaint, or engaged in other protected activity, if such action would be likely to dissuade a reasonable employee from making such a complaint. Employees should promptly bring any concerns about potential retaliation or illegal conduct to their School Leader or DPPS Human Resources. Democracy Prep will conduct a prompt and thorough investigation of all the circumstances surrounding the alleged incident(s) and will keep the complaint and investigation confidential to the extent practicable. If wrongdoing is discovered, Democracy Prep will take appropriate corrective and disciplinary action, up to and including termination.”

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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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IRS990/Form990PartVIISectionAGrp/TitleTxt6HS PRINCIPAL
IRS990/Form990PartVIISectionAGrp/TitleTxt7ELEM. PRINCIPAL
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0FREEDOM 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.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE 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/FormAndLineReferenceDesc0Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Line 4 - Explanation of Records and Materials Not Maintained
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule E, Line 5 - Explanation of Organization Discrimination by Race
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc3Schedule E, Line 6 - Explanation of Aid or Assistance from Governmental Agency
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF TRUSTEES AND DESIGNATED SCHOOL OFFICIALS REVIEW THE TAX FORM 990 RETURN PRIOR TO SUBMISSION AND FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2SALARY 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
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3SALARY 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE CHARTER SCHOOL FOLLOWS STATE AND FEDERAL REGULATIONS AND STANDARDS GOVERNING RECORD RETENTION AND DESTRUCTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Democracy Prep strictly forbids retaliation against any employee for exercising a legal right, for making a complaint in good faith about perceived unlawful behavior (either internally or to an appropriate governmental authority), or for providing truthful information in an internal or governmental investigation of a complaint. Retaliatory acts include any materially adverse action taken because an individual has made a complaint under this policy, assisted another in making such a complaint, participated in an investigation of a complaint, or engaged in other protected activity, if such action would be likely to dissuade a reasonable employee from making such a complaint. Employees should promptly bring any concerns about potential retaliation or illegal conduct to their School Leader or DPPS Human Resources. Democracy Prep will conduct a prompt and thorough investigation of all the circumstances surrounding the alleged incident(s) and will keep the complaint and investigation confidential to the extent practicable. If wrongdoing is discovered, Democracy Prep will take appropriate corrective and disciplinary action, up to and including termination.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,369,746
Liabilities
$8,284,465
Net assets
-$914,719
Revenue
$16,539,337
Expenses
$17,080,338
Net income
-$541,001
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
2019Detailed filing. Detailed filing data is available for this year.$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

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