Civic Intelligence

Mastery Charter Schools Foundation

990 • Fiscal year 2022 • EIN 20-5593485

Jul 01, 2021 to Jun 30, 2022 • Filed on May 15, 2023

Organization ProfileWWW.MASTERYCHARTER.ORG

Refreshing map…

5700 Wayne AvenuePhiladelphia, PA 19144

(215) 922-1902

Siviq Scores

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

Liabilities / Assets

73rd percentile

0.56x

Higher debt load relative to assets than 73% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Liabilities / Revenue

93rd percentile

6.27x

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

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Net Margin

84th percentile

33%

Higher net margin than 84% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Top Officer Pay

4th percentile

$0

Higher top officer pay than 4% of similar nonprofits.

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

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Asset Growth

52nd percentile

-1.2%

Faster asset growth than 52% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2021 to 2022

Revenue Growth

73rd percentile

17%

Faster revenue growth than 73% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Down

$110,945,327

Down $1,371,763 (-1.2%) from 2021

Net Assets

Down

$48,600,652

Down $475,750 (-1.0%) from 2021

Liabilities

Down

$62,344,675

Down $896,013 (-1.4%) from 2021

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin84th percentile

Revenue

Up

$9,942,380

Up $1,408,495 (+17%) from 2021

Expenses

Down

$6,664,233

Down $247,212 (-3.6%) from 2021

Net Income

Up

$3,278,147

Up $1,655,707 (+102%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth52nd percentile

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

$150M$100M$50M$0Assets 2010: $13,237,371Liabilities 2010: $6,663Net Assets 2010: $13,230,7082010Assets 2011: $16,710,938Liabilities 2011: $1,512,188Net Assets 2011: $15,198,7502011Assets 2012: $17,566,246Liabilities 2012: $4,321,033Net Assets 2012: $13,245,2132012Assets 2013: $14,109,794Liabilities 2013: $1,640,242Net Assets 2013: $12,469,5522013Assets 2014: $19,000,595Liabilities 2014: $2,147,491Net Assets 2014: $16,853,1042014Assets 2015: $26,891,551Liabilities 2015: $5,358,615Net Assets 2015: $21,532,9362015Assets 2016: $58,317,612Liabilities 2016: $39,267,679Net Assets 2016: $19,049,9332016Assets 2017: $102,203,851Liabilities 2017: $77,081,228Net Assets 2017: $25,122,6232017Assets 2018: $107,135,347Liabilities 2018: $73,212,022Net Assets 2018: $33,923,3252018Assets 2019: $109,832,907Liabilities 2019: $70,327,560Net Assets 2019: $39,505,3472019Assets 2020: $111,350,537Liabilities 2020: $67,106,951Net Assets 2020: $44,243,5862020Assets 2021: $112,317,090Liabilities 2021: $63,240,688Net Assets 2021: $49,076,4022021Assets 2022: $110,945,327Liabilities 2022: $62,344,675Net Assets 2022: $48,600,6522022Assets 2023: $113,466,103Liabilities 2023: $60,968,322Net Assets 2023: $52,497,7812023

Highlighted filing

2022

Assets$110,945,327
Liabilities$62,344,675
Net Assets$48,600,652
Open 2022 Filing

Operations Trend

Revenue Growth73rd percentile

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

$20M$15M$10M$5.0M$0-$5.0MExpenses 2010: $413,8282010Expenses 2011: $1,362,0392011Expenses 2012: $7,272,6432012Expenses 2013: $4,257,0942013Revenue 2014: $12,006,597Expenses 2014: $7,623,045Net Income 2014: $4,383,5522014Revenue 2015: $8,564,715Expenses 2015: $3,884,883Net Income 2015: $4,679,8322015Revenue 2016: $5,900,532Expenses 2016: $8,383,535Net Income 2016: -$2,483,0032016Revenue 2017: $13,839,514Expenses 2017: $7,766,824Net Income 2017: $6,072,6902017Revenue 2018: $17,106,351Expenses 2018: $8,305,649Net Income 2018: $8,800,7022018Revenue 2019: $11,931,710Expenses 2019: $5,874,018Net Income 2019: $6,057,6922019Revenue 2020: $11,306,485Expenses 2020: $6,568,247Net Income 2020: $4,738,2382020Revenue 2021: $8,533,885Expenses 2021: $6,911,445Net Income 2021: $1,622,4402021Revenue 2022: $9,942,380Expenses 2022: $6,664,233Net Income 2022: $3,278,1472022Revenue 2023: $9,714,744Expenses 2023: $6,376,911Net Income 2023: $3,337,8332023

Highlighted filing

2022

Revenue$9,942,380
Expenses$6,664,233
Net Income$3,278,147
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 15, 2023
Return Version
2021v4.0
Gross Receipts
$11,148,224
Mission and Program Overview

Mission

To develop and provide financial support for the mastery network of charter schools.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$56,316,527$56,719,003▲ $402,476
Investments in Publicly Traded Securities$18,145,674$15,180,841▼ $2,964,833
Other Notes and Loans Receivable, Net$17,771,883$14,444,214▼ $3,327,669
Savings and Temporary Cash Investments$7,571,616$12,618,908▲ $5,047,292
Land, Buildings, and Equipment, Net$11,932,291$11,605,091▼ $327,200
Accounts Receivable$503,003$250,475▼ $252,528
Pledges and Grants Receivable$110,500$119,295▲ $8,795
Prepaid Expenses and Deferred Charges$9,394$7,500▼ $1,894
Total Assets$112,360,888$110,945,327▼ $1,415,561
Liabilities
Other Liabilities$60,960,688$61,299,792▲ $339,104
Grants Payable$87,500$697,890▲ $610,390
Unsecured Notes Loans Payable$2,150,000$250,000▼ $1,900,000
Accounts Payable and Accrued Expenses$86,298$96,993▲ $10,695
Total Liabilities$63,284,486$62,344,675▼ $939,811
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$29,791,159$38,136,765▲ $8,345,606
Net Assets With Donor Restrictions$19,285,243$10,463,887▼ $8,821,356
Total Net Assets Fund Balance$49,076,402$48,600,652▼ $475,750
Total Liabilities and Net Assets / Fund Balance$112,360,888$110,945,327▼ $1,415,561

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$11,440,091$1,647,830$13,087,921
Land$165,000-$165,000
Investment Program Related Org$56,719,003--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$18,145,674-▼ $2,964,833-$15,180,841
2020$14,817,423-▲ $3,328,251-$18,145,674
2019$8,707,120$5,500,000▲ $610,303-$14,817,423
2018$1,977,683$6,500,000▲ $229,437-$8,707,120
2017-$2,000,000▼ $22,317-$1,977,683
Compensation and Service Providers
Top Officer Pay4th percentile

Board Members and Trustees

NameTitle
Stephen CohnPresident
Brook J LenfestBoard Member
David SmithBoard Member
Kareem ThomasBoard Member
Mona BurkeBoard Member
Walter ManerBoard Member
William LutermanBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$3,594,507
Program Service Revenue
$0
Investment Income
$6,041,232
Other Revenue
$306,641
All Other Contributions
$3,594,507
Change in Net Assets
$3,278,147
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,125,205
Grants and Similar Amounts Paid$2,539,028
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$3,598,589--$3,598,589
Grants to Domestic Orgs$2,167,776--$2,167,776
Grants to Domestic Individuals$371,252--$371,252
Fees for Service Investment Mgmnt Fees-$95,404-$95,404
Fees for Services Accounting-$50,900-$50,900
Fees for Services Other$31,250$9,600-$40,850
Other Expenses$20,652$2,297-$22,949
Insurance-$6,153-$6,153
Total Functional Expenses$6,499,879$164,354$0$6,664,233
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Mastery Charter High SchoolPhiladelphia, PA501c3Charter School Suppo$1,378,641
Mastery Charter School - Gratz CampPhiladelphia, PA501c3Charter School Suppo$501,642
Mastery Charter School - Mastery PrPhiladelphia, PA501c3Charter School Suppo$210,000
Mastery Charter School - Pickett CAPhiladelphia, PA501c3Charter School Suppo$29,131
Mastery Charter School - Smedley ElPhiladelphia, PA501c3Charter School Suppo$23,257
Mastery Charter School - ShoemakerPhiladelphia, PA501c3Charter School Suppo$10,915
Mastery Charter Schools of CamdenCamden, NJ501c3Charter School Suppo$6,216
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
Loans Payable$60,634,757
Accrued Interest Payable$665,035
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
No
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, Page 6, Part VI, Line 11B

“The form 990 is provided to the full board of directors prior to filing.”

Form 990, Page 6, Part VI, Line 12C

“Board members are covered by a conflict of interest policy which is reviewed annually by the board members.”

Form 990, Page 6, Part VI, Line 19

“The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Mastery Charter Schools Foundation
EIN
20-5593485
Phone
2159221902
Address
5700 WAYNE AVENUE, PHILADELPHIA, PA 19144

Signing Officer

Name
Stephen Cohn
Title
President
Phone
2159221902
Signed
2023-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephen Cohn
Formed
2006
Legal Domicile
Pa
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
6

Preparer

Firm
J Miller & Associates LLC
Address
1617 JOHN F KENNEDY BLVD STE 1210, PHILADELPHIA, PA 19103
Preparer
Joyce Miller
Phone
2156001701
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Depreciation expense deducted from rental income 0 depreciation on form 990 is reported net of rental income 0”

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

“For support of mastery charter schools”

Raw XML AppendixShowing 400 of 531 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/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt011108462
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt029365760
IRS990ScheduleA/TotalSupportAmt062999816
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IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt018145674
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt015180841
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-2964833
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt014817423
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt018145674
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt03328251
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt08707120
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt05500000
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt014817423
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0610303
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt01977683
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt06500000
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt08707120
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0229437
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt02000000
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt01977683
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt056719003
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0BONDS RECEIVABLE
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/LandGrp/BookValueAmt0165000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0165000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt060634757
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1665035
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0LOANS PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ACCRUED INTEREST PAYABLE
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.65000
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FOR SUPPORT OF MASTERY CHARTER SCHOOLS
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART V, LINE 4
IRS990ScheduleD/TotalBookValueLandBuildingsAmt011605091
IRS990ScheduleD/TotalBookValueProgramRltdAmt056719003
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt1328752
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0COLLEGE SCHOLARSHIPS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1OSTC SCHOLARSHIPS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt031
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/ValuationMethodUsedDesc1CASH VALUE
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IRS990ScheduleI/RecipientTable/CashGrantAmt110915
IRS990ScheduleI/RecipientTable/CashGrantAmt229131
IRS990ScheduleI/RecipientTable/CashGrantAmt323257
IRS990ScheduleI/RecipientTable/CashGrantAmt4501642
IRS990ScheduleI/RecipientTable/CashGrantAmt5210000
IRS990ScheduleI/RecipientTable/CashGrantAmt66216
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0CHARTER SCHOOL SUPPO
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1CHARTER SCHOOL SUPPO
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2CHARTER SCHOOL SUPPO
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3CHARTER SCHOOL SUPPO
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4CHARTER SCHOOL SUPPO
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt5CHARTER SCHOOL SUPPO
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt6CHARTER SCHOOL SUPPO
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IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3MASTERY CHARTER SCHOOL - SMEDLEY EL
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4MASTERY CHARTER SCHOOL - GRATZ CAMP
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt5MASTERY CHARTER SCHOOL - MASTERY PR
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IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt41798 WEST HUNTING PARK AVENUE
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IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt61033 CAMBRIDGE AVENUE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine2Txt035 SOUTH 4TH STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine2Txt15301 MEDIA STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine2Txt25700 WAYNE AVENUE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine2Txt31790 BRIDGE STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine2Txt41798 WEST HUNTING PARK AVENUE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine2Txt51801 W PIKE STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine2Txt61033 CAMBRIDGE AVENUE
IRS990ScheduleI/RecipientTable/USAddress/CityNm0PHILADELPHIA
IRS990ScheduleI/RecipientTable/USAddress/CityNm1PHILADELPHIA
IRS990ScheduleI/RecipientTable/USAddress/CityNm2PHILADELPHIA

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$110,945,327
Liabilities
$62,344,675
Net assets
$48,600,652
Revenue
$9,942,380
Expenses
$6,664,233
Net income
$3,278,147
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$113$61.0$52.5$9.71$6.38$3.34
2022Detailed filing. Detailed filing data is available for this year.$111$62.3$48.6$9.94$6.66$3.28
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$112$63.2$49.1$8.53$6.91$1.62
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$111$67.1$44.2$11.3$6.57$4.74
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$110$70.3$39.5$11.9$5.87$6.06
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$107$73.2$33.9$17.1$8.31$8.80
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$102$77.1$25.1$13.8$7.77$6.07
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$58.3$39.3$19.0$5.90$8.38$2.48
2015Detailed filing. Detailed filing data is available for this year.$26.9$5.36$21.5$8.56$3.88$4.68
2014Detailed filing. Detailed filing data is available for this year.$19.0$2.15$16.9$12.0$7.62$4.38
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.1$1.64$12.5$4.26
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.6$4.32$13.2$7.27
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.7$1.51$15.2$1.36
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.2$0.01$13.2$0.41
Peer Organizations

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