Civic Intelligence

Mastery Charter Schools Foundation

990 • Fiscal year 2023 • EIN 20-5593485

Jul 01, 2022 to Jun 30, 2023 • Filed on Apr 23, 2024

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

71st percentile

0.54x

Higher debt load relative to assets than 71% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2023

Liabilities / Revenue

93rd percentile

6.28x

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

2023 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2023

Net Margin

88th percentile

34%

Higher net margin than 88% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2023

Top Officer Pay

5th percentile

$0

Higher top officer pay than 5% of similar nonprofits.

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

2023 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2023

Asset Growth

34th percentile

2.3%

Faster asset growth than 34% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2022 to 2023

Revenue Growth

34th percentile

-2.3%

Faster revenue growth than 34% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets71st percentile

Assets

Flat

$113,466,103

Flat from 2023

Net Assets

Flat

$52,497,781

Flat from 2023

Liabilities

Flat

$60,968,322

Flat from 2023

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin88th percentile

Revenue

Flat

$9,714,744

Flat from 2023

Expenses

Flat

$6,376,911

Flat from 2023

Net Income

Flat

$3,337,833

Flat from 2023

Historical Trend

Balance Sheet Trend

Asset Growth34th 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: $52,497,7812023Assets 2023: $113,466,103Liabilities 2023: $60,968,322Net Assets 2023: $52,497,7812023

Highlighted filing

2023

Assets$113,466,103
Liabilities$60,968,322
Net Assets$52,497,781
Open 2023 Filing

Operations Trend

Revenue Growth34th 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: $3,337,8332023Revenue 2023: $9,714,744Expenses 2023: $6,376,911Net Income 2023: $3,337,8332023

Highlighted filing

2023

Revenue$9,714,744
Expenses$6,376,911
Net Income$3,337,833
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Apr 23, 2024
Return Version
2022v5.0
Gross Receipts
$22,424,075
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$56,719,003$57,150,840▲ $431,837
Investments in Publicly Traded Securities$15,180,841$16,281,410▲ $1,100,569
Other Notes and Loans Receivable, Net$14,444,214$14,323,281▼ $120,933
Savings and Temporary Cash Investments$12,618,908$13,629,250▲ $1,010,342
Land, Buildings, and Equipment, Net$11,605,091$11,277,893▼ $327,198
Pledges and Grants Receivable$119,295$532,007▲ $412,712
Accounts Receivable$250,475$271,422▲ $20,947
Prepaid Expenses and Deferred Charges$7,500--
Total Assets$110,945,327$113,466,103▲ $2,520,776
Liabilities
Other Liabilities$61,299,792$59,680,918▼ $1,618,874
Grants Payable$697,890$741,609▲ $43,719
Accounts Payable and Accrued Expenses$96,993$545,795▲ $448,802
Unsecured Notes Loans Payable$250,000--
Total Liabilities$62,344,675$60,968,322▼ $1,376,353
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$38,136,765$41,225,563▲ $3,088,798
Net Assets With Donor Restrictions$10,463,887$11,272,218▲ $808,331
Total Net Assets Fund Balance$48,600,652$52,497,781▲ $3,897,129
Total Liabilities and Net Assets / Fund Balance$110,945,327$113,466,103▲ $2,520,776

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$11,112,893$1,975,028$13,087,921
Land$165,000-$165,000
Investment Program Related Org$57,150,840--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$15,180,841-▲ $1,100,570-$16,281,411
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
Compensation and Service Providers
Top Officer Pay5th percentile

Board Members and Trustees

NameTitle
Stephen CohnPresident
Mona BurkeBoard Member
Walter ManerBoard Member
William LutermanBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$2,901,786
Program Service Revenue
$0
Investment Income
$6,555,851
Other Revenue
$257,107
All Other Contributions
$2,901,786
Change in Net Assets
$3,337,833
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,698,345
Grants and Similar Amounts Paid$2,678,566
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$3,457,772--$3,457,772
Grants to Domestic Orgs$2,158,603--$2,158,603
Grants to Domestic Individuals$519,963--$519,963
Fees for Services Other$98,250$3,000-$101,250
Other Expenses$63,833$20,416-$84,249
Fees for Services Accounting-$48,831-$48,831
Insurance-$6,243-$6,243
Total Functional Expenses$6,298,421$78,490$0$6,376,911
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Mastery Charter High SchoolPhiladelphia, PA501c3Charter School Suppo$1,851,004
Mastery Charter School - Mastery PrPhiladelphia, PA501c3Charter School Suppo$100,020
Mastery Charter School - WisterPhiladelphia, PA501c3Charter School Suppo$35,000
Mastery Charter School - Gratz CampPhiladelphia, PA501c3Charter School Suppo$33,827
Mastery Charter School - Smedley ElPhiladelphia, PA501c3Charter School Suppo$32,687
Mastery Charter School - Pickett CAPhiladelphia, PA501c3Charter School Suppo$27,225
Mastery Charter School - Clymer ElePhiladelphia, PA501c3Charter School Suppo$21,803
Mastery Charter School - Harrity ElPhiladelphia, PA501c3Charter School Suppo$15,757
Mastery Charter School - F DouglassPhiladelphia, PA501c3Charter School Suppo$11,177
Mastery Charter Schools of CamdenCamden, NJ501c3Charter School Suppo$10,662
Hardy Williams Academy Charter SchPhiladelphia, PA501c3Charter School Suppo$10,105
Mastery Charter School - Mann ElemPhiladelphia, PA501c3Charter School Suppo$5,806
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$59,045,508
Accrued Interest Payable$635,410
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
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, 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
2156001701
Signed
2024-04-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephen Cohn
Formed
2006
Legal Domicile
Pa
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
4

Preparer

Firm
J Miller & Associates LLC
Address
PO BOX 27308, PHILADELPHIA, PA 19118
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”

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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$113,466,103
Liabilities
$60,968,322
Net assets
$52,497,781
Revenue
$9,714,744
Expenses
$6,376,911
Net income
$3,337,833
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$113$61.0$52.5$9.71$6.38$3.34
2023Summary only. Only limited summary data is available for this year.$113$61.0$52.5$9.71$6.38$3.34
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$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