Civic Intelligence

Independence Charter School

990 • Fiscal year 2024 • EIN 23-3060261

Jul 01, 2023 to Jun 30, 2024 • Filed on May 09, 2025

Organization ProfileWWW.INDEPENDENCECHARTER.ORG
1600 Lombard StreetPhiladelphia, PA 19146

(215) 238-8000

Siviq Scores

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

Liabilities / Assets

98th percentile

1.27x

Higher debt load relative to assets than 98% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

85th percentile

1.78x

Higher debt load relative to revenue than 85% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Net Margin

18th percentile

-8.8%

Higher net margin than 18% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

43rd percentile

$233,493

Higher top officer pay than 43% of similar nonprofits.

Top officer pay equals 1.2% of source-year revenue.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Asset Growth

9th percentile

-8.1%

Faster asset growth than 9% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

55th percentile

11%

Faster revenue growth than 55% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$26,558,298

Down $2,336,036 (-8.1%) from 2023

Net Assets

Down

-$7,177,753

Down $1,669,216 (-30%) from 2023

Liabilities

Down

$33,736,051

Down $666,820 (-1.9%) from 2023

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin18th percentile

Revenue

Up

$18,954,882

Up $1,817,583 (+11%) from 2023

Expenses

Up

$20,624,098

Up $1,902,793 (+10%) from 2023

Net Income

Down

-$1,669,216

Down $85,210 (-5.4%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth9th percentile

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

$40M$20M$0-$20MAssets 2010: $4,105,122Liabilities 2010: $1,342,031Net Assets 2010: $2,763,0912010Assets 2011: $4,895,715Liabilities 2011: $1,227,735Net Assets 2011: $3,667,9802011Assets 2012: $6,059,119Liabilities 2012: $1,385,845Net Assets 2012: $4,673,2742012Assets 2013: $6,419,654Liabilities 2013: $1,271,361Net Assets 2013: $5,148,2932013Assets 2014: $7,010,635Liabilities 2014: $1,347,067Net Assets 2014: $5,663,5682014Assets 2015: $8,507,905Liabilities 2015: $15,763,893Net Assets 2015: -$7,255,9882015Assets 2016: $8,232,928Liabilities 2016: $15,836,917Net Assets 2016: -$7,603,9892016Assets 2017: $9,468,842Liabilities 2017: $17,340,547Net Assets 2017: -$7,871,7052017Assets 2018: $9,149,621Liabilities 2018: $17,129,376Net Assets 2018: -$7,979,7552018Assets 2019: $9,526,474Liabilities 2019: $16,068,965Net Assets 2019: -$6,542,4912019Assets 2020: $10,340,204Liabilities 2020: $15,165,639Net Assets 2020: -$4,825,4352020Assets 2021: $12,377,005Liabilities 2021: $15,512,686Net Assets 2021: -$3,135,6812021Assets 2022: $31,381,164Liabilities 2022: $35,305,695Net Assets 2022: -$3,924,5312022Assets 2023: $28,894,334Liabilities 2023: $34,402,871Net Assets 2023: -$5,508,5372023Assets 2024: $26,558,298Liabilities 2024: $33,736,051Net Assets 2024: -$7,177,7532024

Highlighted filing

2024

Assets$26,558,298
Liabilities$33,736,051
Net Assets-$7,177,753
Open 2024 Filing

Operations Trend

Revenue Growth55th percentile

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

$30M$20M$10M$0-$10MExpenses 2010: $7,763,5242010Expenses 2011: $9,051,7432011Expenses 2012: $8,866,9082012Revenue 2013: $9,507,784Expenses 2013: $9,032,765Net Income 2013: $475,0192013Revenue 2014: $9,977,776Expenses 2014: $9,462,501Net Income 2014: $515,2752014Revenue 2015: $9,460,197Expenses 2015: $10,021,114Net Income 2015: -$560,9172015Revenue 2016: $9,812,032Expenses 2016: $10,160,033Net Income 2016: -$348,0012016Revenue 2017: $10,254,610Expenses 2017: $10,522,326Net Income 2017: -$267,7162017Revenue 2018: $11,171,239Expenses 2018: $10,659,289Net Income 2018: $511,9502018Revenue 2019: $12,778,304Expenses 2019: $11,341,044Net Income 2019: $1,437,2602019Revenue 2020: $13,362,863Expenses 2020: $11,645,806Net Income 2020: $1,717,0572020Revenue 2021: $14,425,850Expenses 2021: $12,821,782Net Income 2021: $1,604,0682021Revenue 2022: $15,900,595Expenses 2022: $16,689,445Net Income 2022: -$788,8502022Revenue 2023: $17,137,299Expenses 2023: $18,721,305Net Income 2023: -$1,584,0062023Revenue 2024: $18,954,882Expenses 2024: $20,624,098Net Income 2024: -$1,669,2162024

Highlighted filing

2024

Revenue$18,954,882
Expenses$20,624,098
Net Income-$1,669,216
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 9, 2025
Return Version
2023v6.0
Gross Receipts
$18,954,882
Mission and Program Overview

Mission

The primary mission of independence charter school is to provide an intellectually stimulating curriculum with an international focus, emphasizing the arts, languages, ideas, and histories, from an array of cultures from around the world. To meet its goals, the school draws heavily on the resources available in philadelphia - the museums, historic landmarks, businesses, schools, parks, and communities, and families.

The primary mission of independence charter school is to provide anintellectually stimulating curriculum with an international focus,emphasizing the arts, languages, ideas, and histories, from an array ofcultures from around the world. To meet its goals, the school drawsheavily on the resources available in philadelphia - the museums,historic landmarks, businesses, schools, parks, and communities, andfamilies.

Balance Sheet Detail
LineBeginningEndChange
Assets
Intangible Assets$15,945,453$13,172,331▼ $2,773,122
Savings and Temporary Cash Investments$4,699,174$5,950,857▲ $1,251,683
Cash and Non-Interest-Bearing Accounts$2,174,818$1,723,483▼ $451,335
Pledges and Grants Receivable$1,635,227$1,016,125▼ $619,102
Land, Buildings, and Equipment, Net$820,763$698,458▼ $122,305
Prepaid Expenses and Deferred Charges$42,243$123,984▲ $81,741
Accounts Receivable$3,769--
Total Assets$28,894,334$26,558,298▼ $2,336,036
Other Assets Total$3,572,887$3,873,060▲ $300,173
Liabilities
Other Liabilities$33,597,897$33,226,487▼ $371,410
Accounts Payable and Accrued Expenses$694,327$463,079▼ $231,248
Deferred Revenue$110,647$46,485▼ $64,162
Total Liabilities$34,402,871$33,736,051▼ $666,820
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-5,508,537$-7,177,753▼ $1,669,216
Total Net Assets Fund Balance$-5,508,537$-7,177,753▼ $1,669,216
Total Liabilities and Net Assets / Fund Balance$28,894,334$26,558,298▼ $2,336,036

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$353,868$1,575,430$1,929,298
Equipment$344,590$1,551,102$1,895,692
Other Assets Org$1,734,060--
Compensation and Service Providers
Top Officer Pay43rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Tanya Ruley-mayoCEOFT$169,365$64,128$233,493
Kristen LongPrincipalFT$136,223$66,240$202,463
Ramzy AndrawosDirector of OpsFT$107,269$55,935$163,204

Board Members and Trustees

NameTitle
Allison KelseyPresident
Sekou CampbellBoard Secretary
Ally LamsonTrustee
Danae MobleyTrustee
Gaurav Ray ChaudhuryTrustee
Gina ToppinTrustee
Jacquie PattersonTrustee
Jon LandauTrustee
Thomas Di GuilioTrustee
Tiye ThompsonTrustee
Zachary SmoakTrustee
Justin Csik EsqTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Gamut Early Intervention Services INCProfessional Services433 WEST MARKET STREET, West Chester, PA 19380$550,993
Linton's Managed ServicesFood Service Management10 SENTRY PARKWAY SUITE 110, Blue Bell, PA 19422$511,934
Pediatric Therapeutic ServicesProfessional Services525 FAYETTE STREET, Conshohocken, PA 19428$445,445
Penserv Plan Services INCProfessional ServicesPO BOX 3109, West Columbia, SC 29170$358,225
Spectrum Cleaning Services INCCleaning Services319 MONTGOMERY AVE, Phoenixville, PA 19460$198,295
Revenue and Support

Revenue Composition

Contributions and Grants
$5,328,910
Program Service Revenue
$13,447,965
Investment Income
$75,724
Other Revenue
$102,283
All Other Contributions
$337,913
Change in Net Assets
$-1,669,216

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Food Inventory32,709$62,876Estimated Fair Market Value (FMV)
Total Noncash Contributions32,709$62,876-

Audited Revenue Reconciliation

Revenue per Audited Statements
$18,954,882
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$18,954,882
Total Revenue per Form 990
$18,954,882
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$10,845,629
Other Expenses$9,778,469
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$5,593,240$1,577,581-$7,170,821
Depreciation Depletion$2,612,929$497,701-$3,110,630
Fees for Services Management$801,892$1,365,384-$2,167,276
Other Employee Benefits$1,008,746$284,518-$1,293,264
Pension Plan Contributions$905,005$255,259-$1,160,264
Interest$821,175$91,242-$912,417
Occupancy$681,782$75,754-$757,536
Payroll Taxes$485,254$136,866-$622,120
Current Officers, Directors, Trustees, and Key Employees$467,346$131,814-$599,160
Information Technology$282,960$94,320-$377,280
Office Expenses$157,793$177,936-$335,729
Fees for Services Legal-$216,839-$216,839
Insurance$42,313$94,179-$136,492
Travel$74,522$51,787-$126,309
Conferences and Meetings$63,171$43,898-$107,069
Other Expenses$85,978--$85,978
Advertising-$48,142-$48,142
Fees for Services Accounting-$39,131-$39,131
All Other Expenses$7,263--$7,263
Total Functional Expenses$15,441,747$5,182,351$0$20,624,098

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$20,624,098
Total Expenses per Audited Statements$20,624,098
Total Expenses per Form 990$20,624,098
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Lease Liability$20,225,000
Net Pension Liability$10,855,000
Accrued Salaries and Benefits$1,247,939
Net Opeb Activity$438,000
Deferred Inflows Related to Pensions$407,000
Due to Other School District$53,548
Governance and Compliance

Governance Checklist

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

“Paid preparer presents the irs form 990 to the board of trustees and explains the form to them, then asks that they review the form in detail prior to signing and filing”

Form 990, Part VI, Section B, Line 12C

“Organization reviews statements of financial interest that are filed by each board member on an annual basis for potential conflicts.”

Form 990, Part VI, Section B, Line 15

“Organization has a committee on the board who reviews and evaluates the compensation of all employees.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request the school's audit and finance committee reviews the audited financial statement prior to it being finalized to ensure it is complete and free of errors.”

Filing and Contact Details

Filer

Filer Name
Independence Charter School
EIN
23-3060261
Phone
2152388000
Address
1600 LOMBARD STREET, PHILADELPHIA, PA 19146

Signing Officer

Name
Matt Kelley
Title
CEO
Phone
2152388000
Signed
2025-05-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Matt Kelley
Formed
2001
Legal Domicile
Pa
Voting Board Members
12
Independent Board Members
12
Employees
162
Volunteers
146

Preparer

Firm
Maillie Llp
Address
500 NORTH LEWIS RD, LIMERICK, PA 19468
Preparer
Michael Gentile CPA
Phone
6109351420
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The process has not changed from the prior year.”

Financial Statement Notes

PART X, LINE 2:

“The school accounts for uncertainty in income taxes in which tax positions initially need to be recognized in the financial statements when it is more likely than not that the positions will be sustained upon examination by taxing authorities. It also provides guidance for derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. As of june 30, 2024, the school had no uncertain tax positions that qualified for either recognition or disclosure in the financial statements. Additionally, the school had no interest or penalties related to income taxes. The school files an income tax return in the u.s. Federal jurisdiction.”

Raw XML AppendixShowing 400 of 658 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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IRS990/Form990PartVIISectionAGrp/TitleTxt0CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt1PRINCIPAL
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR OF OPS
IRS990/Form990PartVIISectionAGrp/TitleTxt3PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt4TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt12TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt14TRUSTEE
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IRS990/InsuranceGrp/ManagementAndGeneralAmt094179
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IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE PRIMARY MISSION OF INDEPENDENCE CHARTER SCHOOL IS TO PROVIDE ANINTELLECTUALLY STIMULATING CURRICULUM WITH AN INTERNATIONAL FOCUS,EMPHASIZING THE ARTS, LANGUAGES, IDEAS, AND HISTORIES, FROM AN ARRAY OFCULTURES FROM AROUND THE WORLD. TO MEET ITS GOALS, THE SCHOOL DRAWSHEAVILY ON THE RESOURCES AVAILABLE IN PHILADELPHIA - THE MUSEUMS,HISTORIC LANDMARKS, BUSINESSES, SCHOOLS, PARKS, AND COMMUNITIES, ANDFAMILIES.
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IRS990/OtherExpensesGrp/ProgramServicesAmt2210880
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Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$26,558,298
Liabilities
$33,736,051
Net assets
-$7,177,753
Revenue
$18,954,882
Expenses
$20,624,098
Net income
-$1,669,216
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$26.6$33.7$7.18$19.0$20.6$1.67
2023Detailed filing. Detailed filing data is available for this year.$28.9$34.4$5.51$17.1$18.7$1.58
2022Detailed filing. Detailed filing data is available for this year.$31.4$35.3$3.92$15.9$16.7$0.79
2021Detailed filing. Detailed filing data is available for this year.$12.4$15.5$3.14$14.4$12.8$1.60
2020Detailed filing. Detailed filing data is available for this year.$10.3$15.2$4.83$13.4$11.6$1.72
2019Detailed filing. Detailed filing data is available for this year.$9.53$16.1$6.54$12.8$11.3$1.44
2018Detailed filing. Detailed filing data is available for this year.$9.15$17.1$7.98$11.2$10.7$0.51
2017Detailed filing. Detailed filing data is available for this year.$9.47$17.3$7.87$10.3$10.5$0.27
2016Detailed filing. Detailed filing data is available for this year.$8.23$15.8$7.60$9.81$10.2$0.35
2015Detailed filing. Detailed filing data is available for this year.$8.51$15.8$7.26$9.46$10.0$0.56
2014Detailed filing. Detailed filing data is available for this year.$7.01$1.35$5.66$9.98$9.46$0.52
2013Summary only. Only limited summary data is available for this year.$6.42$1.27$5.15$9.51$9.03$0.48
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.06$1.39$4.67$8.87
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.90$1.23$3.67$9.05
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.11$1.34$2.76$7.76