Civic Intelligence

Noble Network of Charter Schools

EIN 36-4241970 • 501(c)3 • Chicago, IL

Profile

Noble's mission is to prepare low-income students with the scholarship, discipline, and honor necessary to succeed in college and lead exemplary lives, and to be a catalyst for education reform in chicago.

1 North State Street Floor 15Chicago, IL 60602

www.noblenetwork.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

57th percentile

0.36x

Higher debt load relative to assets than 57% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Liabilities / Revenue

44th percentile

0.40x

Higher debt load relative to revenue than 44% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Net Margin

45th percentile

2.7%

Higher net margin than 45% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Top Officer Pay

16th percentile

$364,043

Higher top officer pay than 16% of similar nonprofits.

Top officer pay equals 0.2% of source-year revenue.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Asset Growth

70th percentile

10%

Faster asset growth than 70% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Revenue Growth

20th percentile

-0.9%

Faster revenue growth than 20% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Assets

Down

$237,808,950

Down $13,478,592 (-5.4%) from 2021

Liabilities

Down

$119,060,696

Down $14,117,794 (-11%) from 2021

Net Assets

Up

$118,748,254

Up $639,202 (+0.5%) from 2021

Revenue

Up

$227,971,902

Up $35,161,162 (+18%) from 2021

Expenses

Up

$228,530,056

Up $36,508,852 (+19%) from 2021

Net Income

Down

-$558,154

Down $1,347,690 (-171%) from 2021

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$300M$200M$100M$0Assets 2011: $71,900,856Liabilities 2011: $52,019,814Net Assets 2011: $19,881,0422011Assets 2012: $81,303,520Liabilities 2012: $54,666,298Net Assets 2012: $26,637,2222012Assets 2013: $99,844,408Liabilities 2013: $57,750,274Net Assets 2013: $42,094,1342013Assets 2014: $145,581,560Liabilities 2014: $77,580,392Net Assets 2014: $68,001,1682014Assets 2015: $182,811,122Liabilities 2015: $113,482,001Net Assets 2015: $69,329,1212015Assets 2017: $206,335,443Liabilities 2017: $125,787,229Net Assets 2017: $80,548,2142017Assets 2018: $198,957,563Liabilities 2018: $95,718,767Net Assets 2018: $103,238,7962018Assets 2019: $204,759,984Liabilities 2019: $95,031,643Net Assets 2019: $109,728,3412019Assets 2020: $207,438,075Liabilities 2020: $92,145,149Net Assets 2020: $115,292,9262020Assets 2021: $251,287,542Liabilities 2021: $133,178,490Net Assets 2021: $118,109,0522021Assets 2022: $237,808,950Liabilities 2022: $119,060,696Net Assets 2022: $118,748,2542022

Highlighted filing

2022

Assets$237,808,950
Liabilities$119,060,696
Net Assets$118,748,254

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$300M$200M$100M$0-$100MExpenses 2011: $67,100,8102011Expenses 2012: $72,174,9192012Expenses 2013: $86,710,0622013Revenue 2014: $134,940,442Expenses 2014: $109,058,672Net Income 2014: $25,881,7702014Revenue 2015: $140,050,364Expenses 2015: $138,684,259Net Income 2015: $1,366,1052015Revenue 2017: $156,923,534Expenses 2017: $166,984,888Net Income 2017: -$10,061,3542017Revenue 2018: $183,548,843Expenses 2018: $160,905,261Net Income 2018: $22,643,5822018Revenue 2019: $174,882,435Expenses 2019: $168,991,580Net Income 2019: $5,890,8552019Revenue 2020: $186,903,293Expenses 2020: $181,004,819Net Income 2020: $5,898,4742020Revenue 2021: $192,810,740Expenses 2021: $192,021,204Net Income 2021: $789,5362021Revenue 2022: $227,971,902Expenses 2022: $228,530,056Net Income 2022: -$558,1542022

Highlighted filing

2022

Revenue$227,971,902
Expenses$228,530,056
Net Income-$558,154

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Mar 6, 2023
Return Version
2021v4.2
Gross Receipts
$245,139,665
Mission and Program Overview

Mission

Noble's mission is to prepare low-income students with the scholarship, discipline, and honor necessary to succeed in college and lead exemplary lives, and to be a catalyst for education reform in chicago.

Noble will ensure that all students have equitable and positive school experiences that equip them to complete college and lead choice-filled lives.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$101,408,433$100,304,368▼ $1,104,065
Investments in Publicly Traded Securities$2,254,477$69,089,318▲ $66,834,841
Accounts Receivable$4,199,287$16,325,181▲ $12,125,894
Cash and Non-Interest-Bearing Accounts$22,154,333$8,268,978▼ $13,885,355
Prepaid Expenses and Deferred Charges$3,846,598$5,063,775▲ $1,217,177
Pledges and Grants Receivable$2,058,496$2,185,143▲ $126,647
Savings and Temporary Cash Investments$75,947,782$1,236,998▼ $74,710,784
Total Assets$251,287,542$237,808,950▼ $13,478,592
Other Assets Total$39,418,136$35,335,189▼ $4,082,947
Liabilities
Other Liabilities$42,894,202$38,616,219▼ $4,277,983
Tax Exempt Bond Liabilities$34,184,751$33,249,358▼ $935,393
Mortgage Notes Payable Secured by Investment Property$34,444,376$26,602,510▼ $7,841,866
Accounts Payable and Accrued Expenses$19,372,665$18,920,353▼ $452,312
Deferred Revenue$2,282,496$1,672,256▼ $610,240
Total Liabilities$133,178,490$119,060,696▼ $14,117,794
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$111,217,278$111,938,874▲ $721,596
Net Assets With Donor Restrictions$6,891,774$6,809,380▼ $82,394
Total Net Assets Fund Balance$118,109,052$118,748,254▲ $639,202
Total Liabilities and Net Assets / Fund Balance$251,287,542$237,808,950▼ $13,478,592

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$44,526,929$35,137,611$79,664,540
Buildings$42,680,796$8,840,280$51,521,076
Equipment$3,830,562$11,081,618$14,912,180
Land$6,423,651-$6,423,651
Other Land Buildings$2,842,430$2,893,592$5,736,022
Other Assets Org$34,633,923--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Constance JonesCEOFT$303,081$13,282$316,363
Ellen MetzHead of SchoolsFT$230,806$37,002$267,808
Matthew NikschPresident - TermFT$238,966$24,770$263,736
Tressie McdonoughManaging Director of SchoolsFT$197,779$38,340$236,119
Michael MaddenChief Operating Officer/ PresidentFT$217,560$13,768$231,328
Alejandro RamirezTreasurer & CFOFT$204,456$24,127$228,583
Kyle ColeChief Academic OfficerFT$213,209$15,276$228,485
Moon LeeChief Data & Innovation ofFT$201,600$25,640$227,240
James TroupisChief People Officer - TermFT$198,641$24,510$223,151
Tory MorrisBoard Clerk & Secretary - TermFT$69,869$12,272$82,141

Board Members and Trustees

NameTitle
Jennifer WilsonBoard Chairman
Miquel LewisBoard Vice Chairman
Aarti DhupeliaDirector
Anne MuellerDirector
Darius NewsomeDirector
David WeinbergDirector
Esmeralda MoraDirector
Gautam KumarDirector
Griselle TorresDirector
Harriette ColemanDirector
Jeri MackDirector
John ButlerDirector
Jonathan ReinsdorfDirector
Jose De La RosaDirector
Lei SchlitzDirector
Nancy Golder NorthripDirector
Nancy MillsDirector
Nikos VarelasDirector
Steve SullivanDirector
Troy RatliffDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
The Futures Healthcore LLCHealthcare Services136 WILLIAMS ST, Springfield, MA 01105$852,183
Midwest Series Of Lockton Companies LLCInsurance13923 COLLECTIONS CENTER DR, Chicago, IL 60639$710,548
Bulley & Andrews LLCBuilding Repairs, Construction Services1755 W ARMITAGE, Chicago, IL 60622$667,270
Hayes MechanicalBuilding Equipment Repairs5959 S HARLEM AVE, Chicago, IL 60638$407,103
Next Level Event DesignEvent Management Services323 S MICHIGAN AVE, Chicago, IL 60604$363,303
Revenue and Support

Revenue Composition

Contributions and Grants
$215,262,382
Program Service Revenue
$9,703,683
Investment Income
$2,455,566
Other Revenue
$550,271
All Other Contributions
$5,404,551
Change in Net Assets
$-558,154

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Food Inventory1$359,967Fair Market Value (FMV)
Other Non Cash Contri Table1$107,334Fair Market Value (FMV)
Total Noncash Contributions2$467,301-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$147,593,677
Other Expenses$79,451,170
Grants and Similar Amounts Paid$1,485,209
Total Fundraising Expense$538,270
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$103,332,389$10,708,627$326,780$114,367,796
Occupancy$13,946,473$865,885$1,009$14,813,367
Information Technology$13,161,282$562,657$5,952$13,729,891
Other Employee Benefits$12,652,534$931,901$31,864$13,616,299
Pension Plan Contributions$11,291,219$641,238$22,502$11,954,959
Fees for Services Other$8,037,582$1,660,459$56,014$9,754,055
Depreciation Depletion$6,099,923$37,498-$6,137,421
Payroll Taxes$4,576,338$772,540$19,762$5,368,640
Other Expenses$2,416,645$973,189$49,824$3,439,658
Interest$2,479,328$7,425-$2,486,753
Office Expenses$1,877,410$589,766$12,860$2,480,036
Current Officers, Directors, Trustees, and Key Employees-$2,285,983-$2,285,983
Insurance$1,741,431$24,544$1,175$1,767,150
Grants to Domestic Individuals$1,485,209--$1,485,209
Travel$1,151,472$40,181$559$1,192,212
All Other Expenses$743,739$424,018$9,969$1,177,726
Fees for Services Legal-$635,665-$635,665
Advertising$113,261$223,268-$336,529
Fees for Service Investment Mgmnt Fees-$221,497-$221,497
Fees for Services Lobbying-$189,000-$189,000
Fees for Services Accounting-$133,000-$133,000
Total Functional Expenses$201,572,598$26,419,188$538,270$228,530,056
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
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liability$38,616,219

Bond Issues

BondIssuerIssuedIssue PricePurpose
BIllinois Finance Authority2015-04-28$21,495,226Ifa series 2015 - advance refunding
AIllinois Finance Authority2013-10-24$19,903,820Ifa series 2013 - renovation

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$21,617,661--$429,905
A$19,906,561$21,187,756-$398,076

Bond Financing Compliance

No rebate due
Yes
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Other officer compensation reviewed
Yes
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, Part VI, Section B, Line 11B

Management assists in preparing and then reviewing a draft of form 990 prepared by the organization's cpa firm. A final copy is provided to the board of directors before filing with the irs.

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

This policy requires all officers, directors, and key employees to disclose annually interests that could give rise to conflicts. Noble network of charter schools enforces and monitors its compliance by reviewing disclosure statements regularly and requires all parties to disclose potential conflicts of interest as they arise throughout the year.

Form 990, Part VI, Section B, Line 15

The board of directors determines the compensation for the organization's ceo. Salary for all other employees is determined by management's research of comparable positions at comparable organizations. The ceo reviews and approves the compensation accordingly.

Form 990, Part VI, Section C, Line 19

The organization furnishes this information upon request.

Filing and Contact Details

Filer

Filer Name
Noble Network of Charter Schools
EIN
36-4241970
Phone
3125215287
Address
1 NORTH STATE STREET FLOOR 15, CHICAGO, IL 60602
Doing Business As
Noble Schools

Signing Officer

Name
Alejandro Ramirez
Title
Chief Financial Officer
Phone
3125215287
Signed
2023-03-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Constance Jones
Formed
1999
Legal Domicile
Il
Voting Board Members
20
Independent Board Members
20
Employees
2,101
Volunteers
74

Preparer

Firm
Ostrow Reisin Berk & Abrams Ltd
Address
455 N CITYFRONT PLAZA DR SUITE 1500, CHICAGO, IL 60611
Preparer
James G Quaid
Phone
3126707444
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Debt forgiveness - nmtc unwind 7,924,048.

Financial Statement Notes

PART X, LINE 2:

The school is a tax-exempt organization as described in section 501(c)(3) of the internal revenue code (the code) and is exempt from federal income taxes on related income pursuant to section 501(a) of the code. In addition, the internal revenue service has determined that the school is not a private foundation within the meaning of section 509(a) of the code. Management has determined that the school was not required to record a liability related to uncertain tax positions as of june 30, 2022 and 2021.

Raw XML AppendixShowing 400 of 1,070 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/ActivityOrMissionDesc0NOBLE WILL ENSURE THAT ALL STUDENTS HAVE EQUITABLE AND POSITIVE SCHOOL EXPERIENCES THAT EQUIP THEM TO COMPLETE COLLEGE AND LEAD CHOICE-FILLED LIVES.
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IRS990/Desc0THE NOBLE NETWORK OF CHARTER SCHOOLS WAS ESTABLISHED FOR THE PURPOSE OF REPLICATING THE NATIONALLY RECOGNIZED NOBLE STREET CHARTER HIGH SCHOOL, WHICH OPENED IN 1999. THE NETWORK PROVIDES A QUALITY EDUCATION TO ENABLE THE LOW-INCOME POPULATION TO MAKE CHANGES TO IMPROVE THEIR LIVES. THE NETWORK SERVED 12,362 STUDENTS IN 2022.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0CEO
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IRS990/Form990PartVIISectionAGrp/TitleTxt4CHIEF OPERATING OFFICER/ PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt5TREASURER & CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt6CHIEF ACADEMIC OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt7CHIEF DATA & INNOVATION OF
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IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD CLERK & SECRETARY - TERM
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IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD VICE CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt26DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt27DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt28DIRECTOR
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