Civic Intelligence

Ilearn Schools Inc.

990 • Fiscal year 2020 • EIN 47-3603519

Jul 01, 2019 to Jun 30, 2020 • Filed on May 17, 2021

Organization Profileilearnschools.org

View Organization Page

33-00 Broadway Suite 301Fair Lawn, NJ 07410

(201) 773-9140

Siviq Scores

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

Liabilities / Assets

66th percentile

0.59x

Higher debt load relative to assets than 66% of similar nonprofits.

2020 filings • NTEE B • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

72nd percentile

0.71x

Higher debt load relative to revenue than 72% of similar nonprofits.

2020 filings • NTEE B • $5M-$10M nonprofits • Source year 2020

Net Margin

86th percentile

24%

Higher net margin than 86% of similar nonprofits.

2020 filings • NTEE B • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

23rd percentile

$0

Higher top officer pay than 23% of similar nonprofits.

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

2020 filings • NTEE B • $5M-$10M nonprofits • Source year 2020

Asset Growth

68th percentile

22%

Faster asset growth than 68% of similar nonprofits.

2020 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

84th percentile

24%

Faster revenue growth than 84% of similar nonprofits.

2020 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets66th percentile

Assets

Up

$8,793,547

Up $1,611,456 (+22%) from 2019

Net Assets

Up

$3,586,713

Up $1,740,972 (+94%) from 2019

Liabilities

Down

$5,206,834

Down $129,516 (-2.4%) from 2019

Revenue And Expenses
Liabilities / Revenue72nd percentileNet Margin86th percentile

Revenue

Up

$7,299,630

Up $1,418,148 (+24%) from 2019

Expenses

Up

$5,558,658

Up $248,564 (+4.7%) from 2019

Net Income

Up

$1,740,972

Up $1,169,584 (+205%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth68th percentile

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

$60M$40M$20M$0Assets 2016: $325,096Liabilities 2016: $270,184Net Assets 2016: $54,9122016Assets 2017: $571,726Liabilities 2017: $131,682Net Assets 2017: $440,0442017Assets 2018: $1,324,298Liabilities 2018: $49,944Net Assets 2018: $1,274,3542018Assets 2019: $7,182,091Liabilities 2019: $5,336,350Net Assets 2019: $1,845,7412019Assets 2020: $8,793,547Liabilities 2020: $5,206,834Net Assets 2020: $3,586,7132020Assets 2021: $13,400,113Liabilities 2021: $7,357,911Net Assets 2021: $6,042,2022021Assets 2022: $13,134,703Liabilities 2022: $3,665,380Net Assets 2022: $9,469,3232022Assets 2023: $17,435,341Liabilities 2023: $4,209,338Net Assets 2023: $13,226,0032023Assets 2024: $58,568,345Liabilities 2024: $41,521,780Net Assets 2024: $17,046,5652024

Highlighted filing

2020

Assets$8,793,547
Liabilities$5,206,834
Net Assets$3,586,713
Open 2020 Filing

Operations Trend

Revenue Growth84th percentile

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

$20M$15M$10M$5.0M$0Revenue 2016: $3,291,513Expenses 2016: $3,236,601Net Income 2016: $54,9122016Revenue 2017: $4,105,377Expenses 2017: $3,720,245Net Income 2017: $385,1322017Revenue 2018: $4,873,722Expenses 2018: $4,039,412Net Income 2018: $834,3102018Revenue 2019: $5,881,482Expenses 2019: $5,310,094Net Income 2019: $571,3882019Revenue 2020: $7,299,630Expenses 2020: $5,558,658Net Income 2020: $1,740,9722020Revenue 2021: $8,692,177Expenses 2021: $6,236,688Net Income 2021: $2,455,4892021Revenue 2022: $10,581,989Expenses 2022: $7,159,930Net Income 2022: $3,422,0592022Revenue 2023: $12,637,646Expenses 2023: $8,880,966Net Income 2023: $3,756,6802023Revenue 2024: $17,497,755Expenses 2024: $13,677,193Net Income 2024: $3,820,5622024

Highlighted filing

2020

Revenue$7,299,630
Expenses$5,558,658
Net Income$1,740,972
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 17, 2021
Return Version
2019v5.0
Gross Receipts
$7,609,093
Mission and Program Overview

Mission

iLearn Schools, Inc. is a non-profit Charter Management Organization (CMO) that provides specialized educational and management services, including operational and administrative supports, for schools.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$6,820,787$6,606,467▼ $214,320
Cash and Non-Interest-Bearing Accounts$41,697$1,159,650▲ $1,117,953
Other Notes and Loans Receivable, Net$33,286$916,828▲ $883,542
Intangible Assets$133,333$91,666▼ $41,667
Accounts Receivable$148,012$14,604▼ $133,408
Savings and Temporary Cash Investments-$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-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$7,182,091$8,793,547▲ $1,611,456
Other Assets Total$4,976$4,332▼ $644
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,683,586$5,003,670▲ $320,084
Accounts Payable and Accrued Expenses$471,258$156,552▼ $314,706
Deferred Revenue$137,894--
Other Liabilities$43,612$46,612▲ $3,000
Total Liabilities$5,336,350$5,206,834▼ $129,516
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,845,741$3,586,713▲ $1,740,972
Total Net Assets Fund Balance$1,845,741$3,586,713▲ $1,740,972
Total Liabilities and Net Assets / Fund Balance$7,182,091$8,793,547▲ $1,611,456

Asset Categories

AssetBook ValueDepreciationBasis
Land$2,559,900-$2,559,900
Leasehold Improvements$2,169,206$114,669$2,283,875
Buildings$1,760,257$118,107$1,878,364
Equipment$117,104$175,376$292,480
Compensation and Service Providers
Top Officer Pay23rd percentile

Board Members and Trustees

NameTitle
Jose MartinezPresident
Glenny AdamesVice President
Richard ArslanDirector Facilities
Ozgur DogruTrustee
Perno YoungTrustee
Nihat GuvercinCEO
Mustafa CobanCFO
Yanivis HageChief Academics

Highest Paid Contractors

ContractorServicesLocationCompensation
Lpm Stategies LLCConsulting604 ROOSEVELT BLVD, Paramus, NJ 07652$102,723
PhiConsulting388 US 46, South Hackensack, NJ 07606$102,723
Revenue and Support

Revenue Composition

Contributions and Grants
$55,930
Program Service Revenue
$6,581,152
Investment Income
$0
Other Revenue
$662,548
All Other Contributions
$55,930
Change in Net Assets
$1,740,972
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,823,586
Other Expenses$1,735,072
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,488,003$746,667-$2,234,670
Current Officers, Directors, Trustees, and Key Employees-$752,000-$752,000
Fees for Services Management$328,863$219,235-$548,098
Other Employee Benefits$317,512$105,838-$423,350
Depreciation Depletion$163,642$109,095-$272,737
Payroll Taxes$132,224$88,149-$220,373
Pension Plan Contributions$144,894$48,299-$193,193
Insurance$67,119$44,746-$111,865
All Other Expenses$49,818$33,212-$83,030
Other Expenses$46,727$15,576-$62,303
Occupancy$33,802$22,534-$56,336
Travel$9,223$6,148-$15,371
Total Functional Expenses$3,133,022$2,425,636$0$5,558,658
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-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security$46,612
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
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
No
Other officer compensation reviewed
No
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

“No review was or will be conducted.”

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

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
iLEARN SCHOOLS INC
EIN
47-3603519
Phone
2017739140
Address
33-00 BROADWAY SUITE 301, FAIR LAWN, NJ 07410

Signing Officer

Name
Mustafa Coban
Title
President & CEO
Signed
2021-05-17
Discuss with paid preparer
Yes

Organization Details

Formed
2015
Legal Domicile
Nj
Voting Board Members
3
Independent Board Members
3
Employees
66

Preparer

Firm
Barre & Company LLC
Address
2204 MORRIS AVE STE 206, UNION, NJ 07083
Preparer
Richard Barre
Phone
9086863484
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IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0317512
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0423350
IRS990/OtherExpensesGrp/Desc0MISCELLANEOUS
IRS990/OtherExpensesGrp/Desc1SUPPLIES
IRS990/OtherExpensesGrp/Desc2REPAIRS & MAINTENANCE
IRS990/OtherExpensesGrp/Desc3PROFESSIONAL DEVELOPMENT PMENT
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt087081
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt178860
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt268196
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt315576
IRS990/OtherExpensesGrp/ProgramServicesAmt0130621
IRS990/OtherExpensesGrp/ProgramServicesAmt1118280
IRS990/OtherExpensesGrp/ProgramServicesAmt2102294
IRS990/OtherExpensesGrp/ProgramServicesAmt346727
IRS990/OtherExpensesGrp/TotalAmt0217702
IRS990/OtherExpensesGrp/TotalAmt1197140
IRS990/OtherExpensesGrp/TotalAmt2170490
IRS990/OtherExpensesGrp/TotalAmt362303
IRS990/OtherLiabilitiesGrp/BOYAmt043612
IRS990/OtherLiabilitiesGrp/EOYAmt046612
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0746667
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01488003
IRS990/OtherSalariesAndWagesGrp/TotalAmt02234670
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt033286
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0916828
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt088149
IRS990/PayrollTaxesGrp/ProgramServicesAmt0132224
IRS990/PayrollTaxesGrp/TotalAmt0220373
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt048299
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0144894
IRS990/PensionPlanContributionsGrp/TotalAmt0193193
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/Desc0MANAGEMENT FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt06581152
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt06581152
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt085383
IRS990/PYExcessBenefitTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt01811381
IRS990/PYOtherRevenueAmt038543
IRS990/PYProgramServiceRevenueAmt05757556
IRS990/PYRevenuesLessExpensesAmt0571388
IRS990/PYSalariesCompEmpBnftPaidAmt03498713
IRS990/PYTotalExpensesAmt05310094
IRS990/PYTotalRevenueAmt05881482
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt01740972
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt0662548
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt055930
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt085383
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt075459
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt08845
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt06787
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0232404
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt00
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt06581152
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt05757556
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt04796251
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt04095043
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt03282822
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt024512824
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt038543
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt038543
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt02012
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt01489
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt01904
IRS990ScheduleA/OtherIncome509Grp/TotalAmt082491
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99670
IRS990ScheduleA/PublicSupportTotal509Amt024745228
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt06637082
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt05842939
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt04871710
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt04103888
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt03289609
IRS990ScheduleA/Total509Grp/TotalAmt024745228
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt06675625
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt05881482
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt04873722
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt04105377
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt03291513
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt024827719
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt01760257
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0118107
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01878364
IRS990ScheduleD/EquipmentGrp/BookValueAmt0117104
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0175376
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0292480
IRS990ScheduleD/LandGrp/BookValueAmt02559900
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt02559900
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt02169206
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0114669
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt02283875
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt046612
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY
IRS990ScheduleD/TotalBookValueLandBuildingsAmt06606467
IRS990ScheduleD/TotalLiabilityAmt046612
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0No review was or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt07182091
IRS990/TotalAssetsEOYAmt08793547
IRS990/TotalAssetsGrp/BOYAmt07182091
IRS990/TotalAssetsGrp/EOYAmt08793547
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt055930
IRS990/TotalEmployeeCnt066

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,793,547
Liabilities
$5,206,834
Net assets
$3,586,713
Revenue
$7,299,630
Expenses
$5,558,658
Net income
$1,740,972
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$58.6$41.5$17.0$17.5$13.7$3.82
2023Detailed filing. Detailed filing data is available for this year.$17.4$4.21$13.2$12.6$8.88$3.76
2022Detailed filing. Detailed filing data is available for this year.$13.1$3.67$9.47$10.6$7.16$3.42
2021Detailed filing. Detailed filing data is available for this year.$13.4$7.36$6.04$8.69$6.24$2.46
2020Detailed filing. Detailed filing data is available for this year.$8.79$5.21$3.59$7.30$5.56$1.74
2019Detailed filing. Detailed filing data is available for this year.$7.18$5.34$1.85$5.88$5.31$0.57
2018Detailed filing. Detailed filing data is available for this year.$1.32$0.05$1.27$4.87$4.04$0.83
2017Detailed filing. Detailed filing data is available for this year.$0.57$0.13$0.44$4.11$3.72$0.39
2016Detailed filing. Detailed filing data is available for this year.$0.33$0.27$0.05$3.29$3.24$0.05