Form 990, Page 6, Part VI, Line 7A
“All board members shall serve 2-year terms, but are eligible for re- election. The board members are elected by a majority vote by the current board members.”
990 • Fiscal year 2019 • EIN 45-2772761
Scores are not available for this record yet.
Assets
Flat$24,491,485
Flat from 2019
Net Assets
Flat$8,595,084
Flat from 2019
Liabilities
Flat$15,896,401
Flat from 2019
Revenue
Flat$5,148,336
Flat from 2019
Expenses
Flat$3,846,225
Flat from 2019
Net Income
Flat$1,302,111
Flat from 2019
Camden's charter school network inc. Was organized exclusively for charitable and educational purposes, to provide support for the development of increased educational opportunities for the youth and their families of camden, new jersey.
Camden's charter school network, inc. Was organized exclusively for charitable and educational purposes, to provide support for the development of increased educational opportunities for the youth of camden, new jersey.
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Land, Buildings, and Equipment, Net | $22,442,628 | $21,673,576 | ▼ $769,052 |
| Accounts Receivable | $1,222,402 | $1,459,568 | ▲ $237,166 |
| Cash and Non-Interest-Bearing Accounts | $853,112 | $1,053,177 | ▲ $200,065 |
| Intangible Assets | $323,939 | $301,973 | ▼ $21,966 |
| Prepaid Expenses and Deferred Charges | - | $3,191 | - |
| Total Assets | $24,842,081 | $24,491,485 | ▼ $350,596 |
| Liabilities | |||
| Tax Exempt Bond Liabilities | $12,233,000 | $11,366,000 | ▼ $867,000 |
| Other Liabilities | $4,875,859 | $4,429,237 | ▼ $446,622 |
| Accounts Payable and Accrued Expenses | $138,065 | $101,164 | ▼ $36,901 |
| Deferred Revenue | $53,674 | - | - |
| Total Liabilities | $17,300,598 | $15,896,401 | ▼ $1,404,197 |
| Net Assets / Fund Balance | |||
| Unrestricted Net Assets | $1,872,926 | $7,472,855 | ▲ $5,599,929 |
| Temporarily Rstr Net Assets | $5,668,557 | $1,122,229 | ▼ $4,546,328 |
| Total Net Assets Fund Balance | $7,541,483 | $8,595,084 | ▲ $1,053,601 |
| Total Liabilities and Net Assets / Fund Balance | $24,842,081 | $24,491,485 | ▼ $350,596 |
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Buildings | $20,731,989 | $2,812,256 | $23,544,245 |
| Land | $559,045 | - | $559,045 |
| Name | Title | Full / Part Time | Base | Total |
|---|---|---|---|---|
| Joshua Fleig | Business Adm | FT | $50,000 | $50,000 |
| Henry Bermann | Executive Di | FT | $30,000 | $30,000 |
| Name | Title |
|---|---|
| Brian Kowalski | Trustee |
| Lorraine Johnson | Trustee |
| Pedro Decasanova | Trustee |
| Reverend Calvin Woods | Trustee |
| Zulma Gonzalez-lombardo | Trustee |
| Line Item | Amount |
|---|---|
| Other Expenses | $3,558,572 |
| Salaries, Compensation, and Employee Benefits | $287,653 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Depreciation Depletion | $1,036,984 | - | - | $1,036,984 |
| Fees for Services Other | $954,553 | - | - | $954,553 |
| Interest | - | $547,944 | - | $547,944 |
| Occupancy | $330,660 | $42,649 | - | $373,309 |
| Advertising | $207,157 | - | - | $207,157 |
| Insurance | $171,879 | - | - | $171,879 |
| Other Salaries and Wages | $38,419 | $92,979 | - | $131,398 |
| Current Officers, Directors, Trustees, and Key Employees | $25,000 | $55,000 | - | $80,000 |
| Payroll Taxes | $19,309 | $45,059 | - | $64,368 |
| Fees for Services Legal | $29,024 | - | - | $29,024 |
| Fees for Services Accounting | - | $21,900 | - | $21,900 |
| Other Employee Benefits | $3,567 | $8,320 | - | $11,887 |
| Office Expenses | - | $8,470 | - | $8,470 |
| Conferences and Meetings | $2,938 | - | - | $2,938 |
| Other Expenses | $2,500 | $1,717 | - | $1,717 |
| All Other Expenses | $542 | - | - | $542 |
| Total Functional Expenses | $2,828,502 | $1,017,723 | $0 | $3,846,225 |
| Line Item | Amount |
|---|---|
| Expenses per Audited Statements | $3,846,225 |
| Total Expenses per Audited Statements | $3,846,225 |
| Total Expenses per Form 990 | $3,846,225 |
| Line Item | Amount |
|---|---|
| Fundraising Gross Income | $72,229 |
| Fundraising Direct Expenses | $42,417 |
| Professional Fundraising Fees | $0 |
| Event | Gross Receipts | Gross Revenue | Direct Expenses | Net Income |
|---|---|---|---|---|
| Scholarship Din | $72,229 | $72,229 | $42,417 | $29,812 |
| Total Events | $72,229 | $72,229 | $42,417 | $29,812 |
| Liability | Amount |
|---|---|
| Construction Loan | $4,429,237 |
| Bond | Issuer | Issued | Issue Price | Purpose |
|---|---|---|---|---|
| A | Series 2015 Bond Issue | 2015-02-06 | $14,441,000 | A.to refund the principal balance along with accrued interest on the |
| Bond | Total Proceeds | Spent | Retired | Issuance Costs |
|---|---|---|---|---|
| A | - | - | - | - |
“All board members shall serve 2-year terms, but are eligible for re- election. The board members are elected by a majority vote by the current board members.”
“Prior to filing form 990, a full review is conducted by the director for content and appropriateness of disclosures.”
“The board of trustees actively monitors for potential conflicts of interest and discloses any identified.”
“Documents will be made available upon request.”
“Camden's charter school network, inc. Was organized exclusively for charitable and educational purposes, to provide support for the development of increased educational opportunities for the youth of camden, new jersey.”
“NA”
“Contracted services 326,553 0 0 maintenance 628,000 0 0 total 954,553 0 0”
“Release of deferred revenue 0 loss on disposal of fixed assets -248,510 total -248,510”
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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| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 4429237 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | CONSTRUCTION LOAN |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | 5148336 |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 21291034 |
| IRS990ScheduleD/TotalExpensesPerForm990Amt | 0 | 3846225 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 4429237 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 5148336 |
| IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt | 0 | 5148336 |
| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | 3846225 |
| IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt | 0 | 42417 |
| IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm | 0 | SCHOLARSHIP DIN |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt | 0 | 72229 |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt | 0 | 72229 |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt | 0 | 72229 |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt | 0 | 72229 |
| IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt | 0 | 29812 |
| IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt | 0 | 42417 |
| IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt | 0 | 42417 |
| IRS990/ScheduleJRequiredInd | 0 | false |
| IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd | 0 | A |
| IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd | 0 | false |
| IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt | 0 | SERIES 2015 BOND ISSUE OCTOBER 31, 2003 SERIES 2003 BONDS OF CAMDEN'S PROMISE AND CAMDEN'S ACADEMY CHARTER SCHOOLS, IN THE AMOUNT OF 1,973,123.73. THIS ISSUE FUNDED THE BUILDING CONSTRUCTION KNOWN AS THE PAC BUILDING. B.THE PRINCIPAL BALANCE ALONG WITH ACCRUED INTEREST ON THE SERIES 2009 BONDS, IN THE AMOUNT OF 4,831,454.58. THIS ISSUE FUNDED THE BUILDING CONSTRUCTION REFERRED TO AS THE PRIDE BUILDING. C.FUND RENOVATIONS TO THE EXISTING ROSEDALE SCHOOL PROPERTY. D.TO FUND THE CONSTRUCTION OF A NEW 25,000 SQUARE FOOT K-8 ELEMENTARY/MIDDLE SCHOOL BUILDING IN THE AMOUNT OF 7,498,421.69 IN THE ROSEDALE SECTION OF CAMDEN. E.THE AGREED UPON CONSIDERATION NECESSARY TO ACQUIRE THE ASSIGNMENT OF A FEE INTEREST IN THE ORIGINAL BEIDEMAN SCHOOL PROPERTY IN THE AMOUNT OF 63,000. F.A PURCHASER'S COMMITMENT FEE IN THE AMOUNT OF 75,000 RELATING TO THE ESCROW AGENT OF THE SERIES 2015 BONDS. |
| IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | SCHEDULE K - PURPOSE OF ISSUE DESCRIPTION |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd | 0 | A |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/ExceptionToRebateInd | 0 | false |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd | 0 | false |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd | 0 | false |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd | 0 | false |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd | 0 | false |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd | 0 | false |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd | 0 | false |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd | 0 | false |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd | 0 | false |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt | 0 | 2015-02-06 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN | 0 | 222022169 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd | 0 | A |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd | 0 | false |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt | 0 | 14441000 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt | 0 | SERIES 2015 BOND ISSUE |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd | 0 | false |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd | 0 | false |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc | 0 | A.TO REFUND THE PRINCIPAL BALANCE ALONG WITH ACCRUED INTEREST ON THE |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd | 0 | false |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd | 0 | false |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd | 0 | false |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondReferenceCd | 0 | A |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd | 0 | false |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd | 0 | false |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd | 0 | false |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd | 0 | false |
| IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd | 0 | false |
| IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd | 0 | A |
| IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd | 0 | false |
| IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxableBondsInd | 0 | false |
| IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxExemptBondsInd | 0 | false |
| IRS990ScheduleK/TaxExemptBondsProceedsGrp/SubstantialCompletionYr | 0 | 2016 |
| IRS990/ScheduleORequiredInd | 0 | true |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | CAMDEN'S CHARTER SCHOOL NETWORK, INC. WAS ORGANIZED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES, TO PROVIDE SUPPORT FOR THE DEVELOPMENT OF INCREASED EDUCATIONAL OPPORTUNITIES FOR THE YOUTH OF CAMDEN, NEW JERSEY. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | NA |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | ALL BOARD MEMBERS SHALL SERVE 2-YEAR TERMS, BUT ARE ELIGIBLE FOR RE- ELECTION. THE BOARD MEMBERS ARE ELECTED BY A MAJORITY VOTE BY THE CURRENT BOARD MEMBERS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | PRIOR TO FILING FORM 990, A FULL REVIEW IS CONDUCTED BY THE DIRECTOR FOR CONTENT AND APPROPRIATENESS OF DISCLOSURES. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | THE BOARD OF TRUSTEES ACTIVELY MONITORS FOR POTENTIAL CONFLICTS OF INTEREST AND DISCLOSES ANY IDENTIFIED. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | DOCUMENTS WILL BE MADE AVAILABLE UPON REQUEST. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | CONTRACTED SERVICES 326,553 0 0 MAINTENANCE 628,000 0 0 TOTAL 954,553 0 0 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 7 | RELEASE OF DEFERRED REVENUE 0 LOSS ON DISPOSAL OF FIXED ASSETS -248,510 TOTAL -248,510 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990 - ORGANIZATION'S MISSION |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PAGE 2, PART III, LINE 4D |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PAGE 6, PART VI, LINE 7A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PAGE 6, PART VI, LINE 11B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990, PAGE 6, PART VI, LINE 12C |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | FORM 990, PAGE 6, PART VI, LINE 19 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 6 | FORM 990, PART IX, LINE 11G |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 7 | FORM 990, PART XI, LINE 9 |
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| IRS990/SignificantChangeInd | 0 | false |
| IRS990/SignificantNewProgramSrvcInd | 0 | false |
| IRS990/SubjectToExcsTaxNetInvstIncInd | 0 | false |
| IRS990/SubjectToProxyTaxInd | 0 | false |
| IRS990/SubjToTaxRmnrtnExPrchtPymtInd | 0 | false |
| IRS990/TaxablePartyNotificationInd | 0 | false |
| IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt | 0 | 12233000 |
| IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt | 0 | 11366000 |
| IRS990/TaxExemptBondsInd | 0 | true |
| IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt | 0 | 5668557 |
| IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt | 0 | 1122229 |
| IRS990/TempOrPermanentEndowmentsInd | 0 | false |
| IRS990/TerminateOperationsInd | 0 | false |
| IRS990/TotalAssetsBOYAmt | 0 | 24842081 |
| IRS990/TotalAssetsEOYAmt | 0 | 24491485 |
| IRS990/TotalAssetsGrp/BOYAmt | 0 | 24842081 |
| IRS990/TotalAssetsGrp/EOYAmt | 0 | 24491485 |
| IRS990/TotalCompGreaterThan150KInd | 0 | false |
| IRS990/TotalEmployeeCnt | 0 | 6 |
| IRS990/TotalFunctionalExpensesGrp/FundraisingAmt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt | 0 | 1017723 |
| IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt | 0 | 2828502 |
| IRS990/TotalFunctionalExpensesGrp/TotalAmt | 0 | 3846225 |
| IRS990/TotalGrossUBIAmt | 0 | 0 |
| IRS990/TotalLiabilitiesBOYAmt | 0 | 17300598 |
| IRS990/TotalLiabilitiesEOYAmt | 0 | 15896401 |
| IRS990/TotalLiabilitiesGrp/BOYAmt | 0 | 17300598 |
| IRS990/TotalLiabilitiesGrp/EOYAmt | 0 | 15896401 |
| IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt | 0 | 7541483 |
| IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt | 0 | 8595084 |
| IRS990/TotalOtherProgSrvcExpenseAmt | 0 | 21966 |
| IRS990/TotalProgramServiceExpensesAmt | 0 | 2828502 |
| IRS990/TotalProgramServiceRevenueAmt | 0 | 5118524 |
| IRS990/TotalReportableCompFromOrgAmt | 0 | 80000 |
| IRS990/TotalRevenueGrp/ExclusionAmt | 0 | 29812 |
| IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 5118524 |
| IRS990/TotalRevenueGrp/TotalRevenueColumnAmt | 0 | 5148336 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt | 0 | 24842081 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt | 0 | 24491485 |
| IRS990/TrnsfrExmptNonChrtblRltdOrgInd | 0 | false |
| IRS990/TypeOfOrganizationCorpInd | 0 | X |
| IRS990/UnrelatedBusIncmOverLimitInd | 0 | false |
| IRS990/UnrestrictedNetAssetsGrp/BOYAmt | 0 | 1872926 |
| IRS990/UnrestrictedNetAssetsGrp/EOYAmt | 0 | 7472855 |
| IRS990/UponRequestInd | 0 | X |
| IRS990/VotingMembersGoverningBodyCnt | 0 | 5 |
| IRS990/VotingMembersIndependentCnt | 0 | 5 |
| IRS990/WebsiteAddressTxt | 0 | WWW.PROMISEACADEMYCHARTER.ORG |
| IRS990/WhistleblowerPolicyInd | 0 | true |
| ReturnHeader/BuildTS | 0 | 2020-04-17 16:48:07Z |
| ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd | 0 | true |
| ReturnHeader/BusinessOfficerGrp/PersonNm | 0 | JOSHUA FLEIG |
| ReturnHeader/BusinessOfficerGrp/PersonTitleTxt | 0 | BUSINESS ADMIN |
| ReturnHeader/BusinessOfficerGrp/PhoneNum | 0 | 8563651000 |
| ReturnHeader/BusinessOfficerGrp/SignatureDt | 0 | 2019-12-18 |
| ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt | 0 | CAMDEN'S CHARTER SCHOOL |
| ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt | 0 | NETWORK INC |
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Displayed year
2019 • Form 990Detailed filing. Detailed filing data is available for this year.