Civic Intelligence

Charter Arts Foundation

990 • Fiscal year 2019 • EIN 45-3986393

Jul 01, 2018 to Jun 30, 2019 • Filed on Nov 15, 2019

Organization ProfileCHARTERARTSFOUNDATION.ORG
321 E 3rd StBethlehem, PA 18015

(610) 868-2971

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.73x

Higher debt load relative to assets than 83% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Liabilities / Revenue

98th percentile

14.85x

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

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Net Margin

12th percentile

-16%

Higher net margin than 12% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Top Officer Pay

7th percentile

$0

Higher top officer pay than 7% of similar nonprofits.

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

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Asset Growth

19th percentile

-2.7%

Faster asset growth than 19% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Revenue Growth

34th percentile

-1.0%

Faster revenue growth than 34% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Down

$28,561,466

Down $789,327 (-2.7%) from 2018

Net Assets

Down

$7,627,241

Down $228,618 (-2.9%) from 2018

Liabilities

Down

$20,934,225

Down $560,709 (-2.6%) from 2018

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin12th percentile

Revenue

Down

$1,409,930

Down $14,018 (-1.0%) from 2018

Expenses

Up

$1,638,548

Up $93,989 (+6.1%) from 2018

Net Income

Down

-$228,618

Down $108,007 (-90%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth19th percentile

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

$40M$30M$20M$10M$0Assets 2012: $73,397Liabilities 2012: $122012Assets 2013: $3,425,590Liabilities 2013: $61,574Net Assets 2013: $3,364,0162013Assets 2014: $4,448,414Liabilities 2014: $660,552Net Assets 2014: $3,787,8622014Assets 2015: $21,946,742Liabilities 2015: $17,819,965Net Assets 2015: $4,126,7772015Assets 2016: $31,576,087Liabilities 2016: $23,623,968Net Assets 2016: $7,952,1192016Assets 2017: $29,680,035Liabilities 2017: $21,703,565Net Assets 2017: $7,976,4702017Assets 2018: $29,350,793Liabilities 2018: $21,494,934Net Assets 2018: $7,855,8592018Assets 2019: $28,561,466Liabilities 2019: $20,934,225Net Assets 2019: $7,627,2412019Assets 2020: $28,148,907Liabilities 2020: $20,725,772Net Assets 2020: $7,423,1352020Assets 2021: $27,360,867Liabilities 2021: $20,401,440Net Assets 2021: $6,959,4272021Assets 2022: $26,720,339Liabilities 2022: $20,051,044Net Assets 2022: $6,669,2952022Assets 2023: $23,440,468Liabilities 2023: $12,173,395Net Assets 2023: $11,267,0732023Assets 2024: $22,764,201Liabilities 2024: $11,881,777Net Assets 2024: $10,882,4242024Assets 2025: $22,440,468Liabilities 2025: $11,722,510Net Assets 2025: $10,717,9582025

Highlighted filing

2019

Assets$28,561,466
Liabilities$20,934,225
Net Assets$7,627,241
Open 2019 Filing

Operations Trend

Revenue Growth34th percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2012: $74,329Expenses 2012: $944Net Income 2012: $73,3852012Revenue 2013: $3,314,054Expenses 2013: $23,424Net Income 2013: $3,290,6302013Revenue 2014: $446,573Expenses 2014: $22,727Net Income 2014: $423,8462014Revenue 2015: $359,434Expenses 2015: $20,519Net Income 2015: $338,9152015Revenue 2016: $5,918,657Expenses 2016: $2,093,315Net Income 2016: $3,825,3422016Revenue 2017: $1,560,807Expenses 2017: $1,536,456Net Income 2017: $24,3512017Revenue 2018: $1,423,948Expenses 2018: $1,544,559Net Income 2018: -$120,6112018Revenue 2019: $1,409,930Expenses 2019: $1,638,548Net Income 2019: -$228,6182019Revenue 2020: $1,348,973Expenses 2020: $1,553,079Net Income 2020: -$204,1062020Revenue 2021: $1,192,568Expenses 2021: $1,656,276Net Income 2021: -$463,7082021Revenue 2022: $1,358,767Expenses 2022: $1,648,899Net Income 2022: -$290,1322022Revenue 2023: $6,436,086Expenses 2023: $1,838,308Net Income 2023: $4,597,7782023Revenue 2024: $1,019,801Expenses 2024: $1,404,450Net Income 2024: -$384,6492024Revenue 2025: $1,175,818Expenses 2025: $1,340,284Net Income 2025: -$164,4662025

Highlighted filing

2019

Revenue$1,409,930
Expenses$1,638,548
Net Income-$228,618
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Nov 15, 2019
Return Version
2018v3.1
Gross Receipts
$1,442,456
Mission and Program Overview

Mission

The foundation's mission is to support the health, welfare and educational interests of lehigh valley charter high school for the arts, a pennsylvania nonprofit corporation that is exempt from federal income tax as an organization described in section 501(c)(3) of the internal revenue code of 1986, as amended.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$25,323,676$24,681,914▼ $641,762
Accounts Receivable$2,705,190$2,630,190▼ $75,000
Savings and Temporary Cash Investments$1,118,303$1,112,638▼ $5,665
Pledges and Grants Receivable$176,759$113,803▼ $62,956
Cash and Non-Interest-Bearing Accounts$24,511$20,567▼ $3,944
Prepaid Expenses and Deferred Charges$2,354$2,354→ $0
Total Assets$29,350,793$28,561,466▼ $789,327
Liabilities
Mortgage Notes Payable Secured by Investment Property$21,494,908$20,922,402▼ $572,506
Accounts Payable and Accrued Expenses$26$11,823▲ $11,797
Total Liabilities$21,494,934$20,934,225▼ $560,709
Net Assets / Fund Balance
Unrestricted Net Assets$7,855,859$7,627,241▼ $228,618
Total Net Assets Fund Balance$7,855,859$7,627,241▼ $228,618
Total Liabilities and Net Assets / Fund Balance$29,350,793$28,561,466▼ $789,327

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$22,837,644$1,951,826$24,789,470
Land$1,445,813-$1,445,813
Equipment$398,457$321,916$720,373
Compensation and Service Providers
Top Officer Pay7th percentile

Board Members and Trustees

NameTitle
Marna HaydenPresident
Anthony CrisafulliBoard Member
Chris KulpBoard Member
Denise MaiaticoBoard Member
Don WormanBoard Member
Jennifer GiordanoBoard Member
Michelle LandisBoard Member
Mickey TrageserBoard Member
Neal KoplinBoard Member
Rob CahillBoard Member
Sheryl MaherBoard Member
Tami Booth CorwinBoard Member
Tim CharlesworthBoard Member
Mark MetzgarSecretary
Melinda StittTreasurer
Emrich StellarVice-preside
Revenue and Support

Revenue Composition

Contributions and Grants
$150,619
Program Service Revenue
$1,047,880
Investment Income
$35,584
Other Revenue
$175,847
All Other Contributions
$150,619
Change in Net Assets
$-228,618

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,409,930
Total Revenue per Audited Statements
$1,409,930
Total Revenue per Form 990
$1,409,930
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,638,548
Total Fundraising Expense$1,946
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$826,265--$826,265
Depreciation Depletion$641,760--$641,760
Fees for Services Legal$37,425--$37,425
Other Expenses$30,300$5,094-$5,094
All Other Expenses$2,444$1,593-$4,037
Insurance$1,627--$1,627
Conferences and Meetings--$1,135$1,135
Office Expenses--$448$448
Advertising--$363$363
Total Functional Expenses$1,587,349$49,253$1,946$1,638,548

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,638,548
Total Expenses per Audited Statements$1,638,548
Total Expenses per Form 990$1,638,548
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$208,373
Fundraising Direct Expenses$32,526
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fundraising Eve$208,373$208,373$32,526$175,847
Total Events$208,373$208,373$32,526$175,847
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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 990 is reviewed by the finance committee and copies are available upon request to all board members.”

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

“The organization monitors and enforces the policy annually.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Charter Arts Foundation
EIN
45-3986393
Phone
6108682971
Address
321 E 3RD ST, BETHLEHEM, PA 18015

Signing Officer

Name
Marna Hayden
Title
President
Phone
6108682971
Signed
2019-11-15

Organization Details

Principal Officer
Marna Hayden
Formed
2011
Legal Domicile
Pa
Voting Board Members
16
Independent Board Members
16
Employees
0

Preparer

Firm
Hutchinson Gillahan & Freeh Pc
Address
125 CALIFORNIA ROAD, QUAKERTOWN, PA 18951-2483
Preparer
Cheri H Freeh Cpacgma
Phone
2155381371
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The foundation's mission is to support the health, welfare and educational interests of lehigh valley charter high school for the arts, a pennsylvania nonprofit corporation that is exempt from federal income tax as an organization described in section 501(c)(3) of the internal revenue code of 1986, as amended.”

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IRS990/MissionDesc0THE FOUNDATION'S MISSION IS TO SUPPORT THE HEALTH, WELFARE AND EDUCATIONAL INTERESTS OF LEHIGH VALLEY CHARTER HIGH SCHOOL FOR THE ARTS, A PENNSYLVANIA NONPROFIT CORPORATION THAT IS EXEMPT FROM FEDERAL INCOME TAX AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION'S MISSION IS TO SUPPORT THE HEALTH, WELFARE AND EDUCATIONAL INTERESTS OF LEHIGH VALLEY CHARTER HIGH SCHOOL FOR THE ARTS, A PENNSYLVANIA NONPROFIT CORPORATION THAT IS EXEMPT FROM FEDERAL INCOME TAX AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 990 IS REVIEWED BY THE FINANCE COMMITTEE AND COPIES ARE AVAILABLE UPON REQUEST TO ALL BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MONITORS AND ENFORCES THE POLICY ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0LV CHARTER
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0LV CHARTER HS FOR THE ARTS

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$28,561,466
Liabilities
$20,934,225
Net assets
$7,627,241
Revenue
$1,409,930
Expenses
$1,638,548
Net income
-$228,618
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$22.4$11.7$10.7$1.18$1.34$0.16
2024Detailed filing. Detailed filing data is available for this year.$22.8$11.9$10.9$1.02$1.40$0.38
2023Detailed filing. Detailed filing data is available for this year.$23.4$12.2$11.3$6.44$1.84$4.60
2022Detailed filing. Detailed filing data is available for this year.$26.7$20.1$6.67$1.36$1.65$0.29
2021Detailed filing. Detailed filing data is available for this year.$27.4$20.4$6.96$1.19$1.66$0.46
2020Detailed filing. Detailed filing data is available for this year.$28.1$20.7$7.42$1.35$1.55$0.20
2019Detailed filing. Detailed filing data is available for this year.$28.6$20.9$7.63$1.41$1.64$0.23
2018Detailed filing. Detailed filing data is available for this year.$29.4$21.5$7.86$1.42$1.54$0.12
2017Detailed filing. Detailed filing data is available for this year.$29.7$21.7$7.98$1.56$1.54$0.02
2016Detailed filing. Detailed filing data is available for this year.$31.6$23.6$7.95$5.92$2.09$3.83
2015Detailed filing. Detailed filing data is available for this year.$21.9$17.8$4.13$0.36$0.02$0.34
2014Detailed filing. Detailed filing data is available for this year.$4.45$0.66$3.79$0.45$0.02$0.42
2013Summary only. Only limited summary data is available for this year.$3.43$0.06$3.36$3.31$0.02$3.29
2012Summary only. Only limited summary data is available for this year.$0.07$0.00$0.07$0.00$0.07