Civic Intelligence

Paterson Arts and Science Charter School

990 • Fiscal year 2014 • EIN 46-2237798

Jul 01, 2013 to Jun 30, 2014 • Filed on Feb 03, 2015

465 BoulevardFair Lawn, NJ 07407

(201) 773-9140

Siviq Scores

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

Liabilities / Assets

75th percentile

0.45x

Higher debt load relative to assets than 75% of similar nonprofits.

2014 filings • NTEE B • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

39th percentile

0.04x

Higher debt load relative to revenue than 39% of similar nonprofits.

2014 filings • NTEE B • $1M-$5M nonprofits • Source year 2014

Net Margin

56th percentile

4.9%

Higher net margin than 56% of similar nonprofits.

2014 filings • NTEE B • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

64th percentile

$99,126

Higher top officer pay than 64% of similar nonprofits.

Top officer pay equals 2.2% of source-year revenue.

2014 filings • NTEE B • $1M-$5M nonprofits • Source year 2014

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Assets

$410,282

No earlier filing loaded for comparison.

Net Assets

$223,982

No earlier filing loaded for comparison.

Liabilities

$186,300

No earlier filing loaded for comparison.

Revenue

$4,570,817

No earlier filing loaded for comparison.

Expenses

$4,346,835

No earlier filing loaded for comparison.

Net Income

$223,982

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$20M$15M$10M$5.0M$0Assets 2014: $410,282Liabilities 2014: $186,300Net Assets 2014: $223,9822014Assets 2015: $552,741Liabilities 2015: $286,965Net Assets 2015: $265,7762015Assets 2016: $1,233,897Liabilities 2016: $1,181,168Net Assets 2016: $52,7292016Assets 2017: $3,312,001Liabilities 2017: $2,328,429Net Assets 2017: $983,5722017Assets 2018: $3,695,322Liabilities 2018: $2,542,011Net Assets 2018: $1,153,3112018Assets 2019: $3,609,334Liabilities 2019: $2,484,289Net Assets 2019: $1,125,0452019Assets 2020: $6,177,842Liabilities 2020: $4,919,837Net Assets 2020: $1,258,0052020Assets 2021: $9,568,826Liabilities 2021: $4,043,027Net Assets 2021: $5,525,7992021Assets 2022: $9,896,965Liabilities 2022: $431,229Net Assets 2022: $9,465,7362022Assets 2023: $14,177,120Liabilities 2023: $372,612Net Assets 2023: $13,804,5082023Assets 2024: $19,649,528Liabilities 2024: $621,160Net Assets 2024: $19,028,3682024

Highlighted filing

2014

Assets$410,282
Liabilities$186,300
Net Assets$223,982

Operations Trend

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

$40M$30M$20M$10M$0-$10MRevenue 2014: $4,570,817Expenses 2014: $4,346,835Net Income 2014: $223,9822014Revenue 2015: $6,164,753Expenses 2015: $6,122,959Net Income 2015: $41,7942015Revenue 2016: $7,464,154Expenses 2016: $7,677,201Net Income 2016: -$213,0472016Revenue 2017: $8,586,870Expenses 2017: $7,656,027Net Income 2017: $930,8432017Revenue 2018: $10,574,845Expenses 2018: $10,405,106Net Income 2018: $169,7392018Revenue 2019: $12,876,263Expenses 2019: $12,918,846Net Income 2019: -$42,5832019Revenue 2020: $14,188,198Expenses 2020: $14,055,241Net Income 2020: $132,9572020Revenue 2021: $19,593,384Expenses 2021: $15,342,592Net Income 2021: $4,250,7922021Revenue 2022: $21,278,394Expenses 2022: $19,420,141Net Income 2022: $1,858,2532022Revenue 2023: $28,515,667Expenses 2023: $24,176,895Net Income 2023: $4,338,7722023Revenue 2024: $32,793,034Expenses 2024: $27,569,174Net Income 2024: $5,223,8602024

Highlighted filing

2014

Revenue$4,570,817
Expenses$4,346,835
Net Income$223,982
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Feb 3, 2015
Return Version
2013v4.0
Gross Receipts
$4,611,997
Mission and Program Overview

Mission

The mission of paterson arts and science charter school is to provide the ideal environment for the intellectual and social development of its students by utilizing a combined effort of students, educators, families and the community as a whole, and by providing boundless academic and co-curricular opportunities for individual skills and talents to develop.

The Paterson Arts & Science Charter School Mission is to provide the ideal environment for the intellectual and social development for its students by utilizing a combined effort of students, educators, families, and the community as a whole. Paterson Arts & Science Charter School believes an effective and adequate education necessary for citizens of the future relies heavily on a multidimensional academic curriculum in which all core subjects will be blended together through various teaching methods while promoting the development of a strong character that supports and respects society. Paterson Arts & Science Charter School believes that focusing on an overall high academic achievement includes providing opportunities for individual skills and talents to develop to higher levels. This inspires in students a lifelong love of learning and desire for self-improvement and creativity. Paterson Arts & Science Charter School focuses on high academic achievement, allowing opportunities for

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts-$231,354-
Accounts Receivable-$114,266-
Land, Buildings, and Equipment, Net-$49,836-
Prepaid Expenses and Deferred Charges-$14,826-
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$0$410,282▲ $410,282
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses-$186,300-
Total Liabilities$0$186,300▲ $186,300
Net Assets / Fund Balance
Unrestricted Net Assets-$223,982-
Total Net Assets Fund Balance$0$223,982▲ $223,982
Total Liabilities and Net Assets / Fund Balance$0$410,282▲ $410,282

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$37,119$7,424$44,543
Buildings$12,717-$12,717
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Lori CobbSchool DirectorFT$99,126$99,126

Board Members and Trustees

NameTitle
Murat TekePres-trustees
Nilda PardoTreas-trustees
Arzu Kaya UranliTrustee
Ismail OralTrustee
Perno YoungTrustee
Tulay DemirelTrustee
Recep OrnekBd Secretary
Christopher LessardBusiness Admin
Nihat GuvercinLead Person
Revenue and Support

Revenue Composition

Contributions and Grants
$4,547,781
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$23,036
All Other Contributions
$552,451
Change in Net Assets
$223,982
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,256,336
Other Expenses$2,090,499
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,256,700$443,738-$1,700,438
Fees for Services Management$67,065$763,775-$830,840
Office Expenses$429,063$194,866-$623,929
Occupancy$279,596$132,483-$412,079
Other Employee Benefits$228,065$108,066-$336,131
Current Officers, Directors, Trustees, and Key Employees-$151,674-$151,674
Pension Plan Contributions$46,201$21,892-$68,093
Travel-$25,242-$25,242
Insurance-$22,665-$22,665
Fees for Services Legal-$10,547-$10,547
Depreciation Depletion$7,424$2,543-$9,967
Other Expenses-$3,973-$3,973
Fees for Services Accounting-$850-$850
Conferences and Meetings-$91-$91
Total Functional Expenses$2,314,114$2,032,721$0$4,346,835
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
No
Backup withholding compliance
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

The board of trustees and designated school officials review the tax form 990 return prior to submission and filing with the irs.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Each school official and/or key employee, as well as each member of the board of trustees, is required to file the school ethics commission disclosure statement, per applicable new jersey law. These forms are filed with the local county authority.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

Salary and compensation of the ceo/lead person of the school is reviewed and evaluated by board of trustees of the paterson arts & sciences charter school on an annual basis. In conducting such review and evaluation, factors such as personal strengths and weaknesses, as well as goals and achievements of the charter school, and comparable salary data are all given due weight and consideration. The ultimate compensation evaluation and recommendation is thereafter approved by the board of trustees of the charter school.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

Salary and compensation of officers, key employees and all teachers are reviewed and evaluated by the charter school lead person and business adminstrator on an annual basis. In conducting such review and evaluation, factors such as teacher performance, education, experience, longevity and comparable area standards for the profession, are given due weight and consideration. All such compensation evaluations and recommendations are reviewed and approved by the board of trustees of the charter school.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

The minutes for the meetings of the board of trustees of the paterson arts & sciences charter school are available to the public on the school's website. Annual audit and financial reports of the charter school are available on the state of new jersey department of education website. Other charter school information is available on the school website, or will be provided upon request.

Filing and Contact Details

Filer

EIN
46-2237798
Phone
2017739140

Signing Officer

Name
Recep Ornek
Title
Bd Secretary
Signed
2015-02-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nihat Guvercin
Legal Domicile
Nj
Voting Board Members
6
Independent Board Members
6
Employees
95

Preparer

Preparer
Richard Barre
Phone
9086863484
Supplemental Narrative

Additional Explanations

Document Retention and Destruction Policy

The charter school follows state and federal regulations and standards governing record retention and destruction.

Whistleblower Policy

While the charter school does not currently have a written whistleblower policy, procedures and practices are in place for the filing of complaints against any co-worker or against the school itself, if any such school employee reasonably believes that a co-worker, or the school itself, is conducting an illegal or wrongful act. School practice and policy also prohibits retaliation against any employee who submits any such complaint.

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IRS990/MissionDesc0The Paterson Arts & Science Charter School Mission is to provide the ideal environment for the intellectual and social development for its students by utilizing a combined effort of students, educators, families, and the community as a whole. Paterson Arts & Science Charter School believes an effective and adequate education necessary for citizens of the future relies heavily on a multidimensional academic curriculum in which all core subjects will be blended together through various teaching methods while promoting the development of a strong character that supports and respects society. Paterson Arts & Science Charter School believes that focusing on an overall high academic achievement includes providing opportunities for individual skills and talents to develop to higher levels. This inspires in students a lifelong love of learning and desire for self-improvement and creativity. Paterson Arts & Science Charter School focuses on high academic achievement, allowing opportunities for
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0PATERSON ARTS & SCIENCES CHARTER SCHOOL RECEIVES PUBLIC ASSISTANCE BY WAY OF PERCENTAGE OF LOCAL TAX LEVY PURSUANT TO REGULATIONS PROMULGATED BY THE STATE OF NEW JERSEY DEPARTMENT OF EDUCATION. IN ADDITION, THE CHARTER SCHOOL RECEIVES FEDERAL ASSISTANCE BY WAY OF GRANTS FROM NCLB/TITLE I AND I.D.E.A. PROGRAMS. OTHER FINANCIAL ASSISTANCE FROM GOVERNMENTAL PROGRAMS IS ALSO AVAILABLE VIA APPLICATION.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1PATERSON ARTS & SCIENCES CHARTER SCHOOL MAINTAINS A RACIALLY NONDISCRIMINATORY POLICY TOWARDS ALL STUDENTS, IN THAT THE CHARTER SCHOOL DOES NOT DISCRIMINATE AGAINST ANY STUDENT, OR EMPLOYEE, FOR REASONS OF RACE, COLOR, CREED, SEX, AGE, RELIGION, ETHNIC ORIGIN, FAMILY AFFILIATION, DISABILITIES, SOCIAL OR ECONOMIC STATUS, MARITAL STATUS, SEXUAL ORIENTATION, OR BECAUSE OF LIABILITY FOR SERVICE IN THE UNITED STATES ARMED FORCES. THE RACIALLY NONDISCRIMINATORY POLICY IS CONTAINED IN THE SCHOOL BY-LAWS AND IS COMMUNICATED TO STUDENTS AND PARENTS. THE SCHOOL INTENDS TO PUBLISH THIS POLICY IN ITS BROCHURE AND ON ITS WEBSITE.IN ADDITION, PATERSON ARTS & SCIENCES CHARTER SCHOOL CUSTOMARILY DRAWS ITS STUDENTS FROM LOCAL COMMUNITIES, AND FURTHER, THE CHARTER SCHOOL ENROLLS STUDENTS OF RACIAL MINORITY GROUPS IN MEANINGFUL NUMBERS.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Line 6 - Explanation of Aid or Assistance from Governmental Agency
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule E, Line 4 - Explanation of Records and Materials Not Maintained
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc3Schedule E, Line 5 - Explanation of Organization Discrimination by Race
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF TRUSTEES AND DESIGNATED SCHOOL OFFICIALS REVIEW THE TAX FORM 990 RETURN PRIOR TO SUBMISSION AND FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH SCHOOL OFFICIAL AND/OR KEY EMPLOYEE, AS WELL AS EACH MEMBER OF THE BOARD OF TRUSTEES, IS REQUIRED TO FILE THE SCHOOL ETHICS COMMISSION DISCLOSURE STATEMENT, PER APPLICABLE NEW JERSEY LAW. THESE FORMS ARE FILED WITH THE LOCAL COUNTY AUTHORITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2SALARY AND COMPENSATION OF THE CEO/LEAD PERSON OF THE SCHOOL IS REVIEWED AND EVALUATED BY BOARD OF TRUSTEES OF THE PATERSON ARTS & SCIENCES CHARTER SCHOOL ON AN ANNUAL BASIS. IN CONDUCTING SUCH REVIEW AND EVALUATION, FACTORS SUCH AS PERSONAL STRENGTHS AND WEAKNESSES, AS WELL AS GOALS AND ACHIEVEMENTS OF THE CHARTER SCHOOL, AND COMPARABLE SALARY DATA ARE ALL GIVEN DUE WEIGHT AND CONSIDERATION. THE ULTIMATE COMPENSATION EVALUATION AND RECOMMENDATION IS THEREAFTER APPROVED BY THE BOARD OF TRUSTEES OF THE CHARTER SCHOOL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3SALARY AND COMPENSATION OF OFFICERS, KEY EMPLOYEES AND ALL TEACHERS ARE REVIEWED AND EVALUATED BY THE CHARTER SCHOOL LEAD PERSON AND BUSINESS ADMINSTRATOR ON AN ANNUAL BASIS. IN CONDUCTING SUCH REVIEW AND EVALUATION, FACTORS SUCH AS TEACHER PERFORMANCE, EDUCATION, EXPERIENCE, LONGEVITY AND COMPARABLE AREA STANDARDS FOR THE PROFESSION, ARE GIVEN DUE WEIGHT AND CONSIDERATION. ALL SUCH COMPENSATION EVALUATIONS AND RECOMMENDATIONS ARE REVIEWED AND APPROVED BY THE BOARD OF TRUSTEES OF THE CHARTER SCHOOL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE MINUTES FOR THE MEETINGS OF THE BOARD OF TRUSTEES OF THE PATERSON ARTS & SCIENCES CHARTER SCHOOL ARE AVAILABLE TO THE PUBLIC ON THE SCHOOL'S WEBSITE. ANNUAL AUDIT AND FINANCIAL REPORTS OF THE CHARTER SCHOOL ARE AVAILABLE ON THE STATE OF NEW JERSEY DEPARTMENT OF EDUCATION WEBSITE. OTHER CHARTER SCHOOL INFORMATION IS AVAILABLE ON THE SCHOOL WEBSITE, OR WILL BE PROVIDED UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE CHARTER SCHOOL FOLLOWS STATE AND FEDERAL REGULATIONS AND STANDARDS GOVERNING RECORD RETENTION AND DESTRUCTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6WHILE THE CHARTER SCHOOL DOES NOT CURRENTLY HAVE A WRITTEN WHISTLEBLOWER POLICY, PROCEDURES AND PRACTICES ARE IN PLACE FOR THE FILING OF COMPLAINTS AGAINST ANY CO-WORKER OR AGAINST THE SCHOOL ITSELF, IF ANY SUCH SCHOOL EMPLOYEE REASONABLY BELIEVES THAT A CO-WORKER, OR THE SCHOOL ITSELF, IS CONDUCTING AN ILLEGAL OR WRONGFUL ACT. SCHOOL PRACTICE AND POLICY ALSO PROHIBITS RETALIATION AGAINST ANY EMPLOYEE WHO SUBMITS ANY SUCH COMPLAINT.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5DOCUMENT RETENTION AND DESTRUCTION POLICY
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6WHISTLEBLOWER POLICY
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