Civic Intelligence

Tech Freire Charter School

990 • Fiscal year 2021 • EIN 47-3965219

Jul 01, 2020 to Jun 30, 2021 • Filed on Feb 09, 2022

2221 North Broad StreetPhiladelphia, PA 19132

(267) 583-4458

Siviq Scores

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

Liabilities / Assets

49th percentile

0.12x

Higher debt load relative to assets than 49% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

28th percentile

0.06x

Higher debt load relative to revenue than 28% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Net Margin

35th percentile

5.3%

Higher net margin than 35% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Top Officer Pay

59th percentile

$140,002

Higher top officer pay than 59% of similar nonprofits.

Top officer pay equals 1.5% of source-year revenue.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Asset Growth

64th percentile

16%

Faster asset growth than 64% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Revenue Growth

52nd percentile

13%

Faster revenue growth than 52% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Assets

Up

$4,181,316

Up $588,117 (+16%) from 2020

Net Assets

Up

$3,678,176

Up $339,191 (+10%) from 2020

Liabilities

Up

$503,140

Up $248,926 (+98%) from 2020

Revenue

Up

$9,138,213

Up $1,026,310 (+13%) from 2020

Expenses

Up

$8,653,676

Up $1,146,759 (+15%) from 2020

Net Income

Down

$484,537

Down $120,449 (-20%) from 2020

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 2016: $878,596Liabilities 2016: $4,768Net Assets 2016: $873,8282016Assets 2017: $2,364,783Liabilities 2017: $735,803Net Assets 2017: $1,628,9802017Assets 2018: $2,538,861Liabilities 2018: $213,210Net Assets 2018: $2,325,6512018Assets 2019: $2,991,262Liabilities 2019: $257,263Net Assets 2019: $2,733,9992019Assets 2020: $3,593,199Liabilities 2020: $254,214Net Assets 2020: $3,338,9852020Assets 2021: $4,181,316Liabilities 2021: $503,140Net Assets 2021: $3,678,1762021Assets 2022: $18,189,666Liabilities 2022: $14,609,510Net Assets 2022: $3,580,1562022

Highlighted filing

2021

Assets$4,181,316
Liabilities$503,140
Net Assets$3,678,176

Operations Trend

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

$15M$10M$5.0M$0-$5.0MRevenue 2016: $879,862Expenses 2016: $6,034Net Income 2016: $873,8282016Revenue 2017: $4,462,188Expenses 2017: $3,710,253Net Income 2017: $751,9352017Revenue 2018: $6,374,544Expenses 2018: $5,677,873Net Income 2018: $696,6712018Revenue 2019: $7,434,345Expenses 2019: $7,025,997Net Income 2019: $408,3482019Revenue 2020: $8,111,903Expenses 2020: $7,506,917Net Income 2020: $604,9862020Revenue 2021: $9,138,213Expenses 2021: $8,653,676Net Income 2021: $484,5372021Revenue 2022: $9,920,756Expenses 2022: $10,018,776Net Income 2022: -$98,0202022

Highlighted filing

2021

Revenue$9,138,213
Expenses$8,653,676
Net Income$484,537
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Feb 9, 2022
Return Version
2020v4.0
Gross Receipts
$9,138,213
Mission and Program Overview

Mission

The mission of tech freire charter school is to provide a college-preparatory learning experience specializing in computer science and entrepreneurship with a focus on real-world learning, critical thinking, and problem solving in an environment that emphasizes the values of community, teamwork, and commitment to peace.

TECH Freire Charter School provides a college-preparatory learning experience specializing in computer science and entrepreneurship with a focus on individual freedom, critical thinking, and problem solving in an environment that emphasizes the values of community, teamwork, and commitment to peace. TECH Freire offers students the power to build their future.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,018,983$2,037,022▲ $18,039
Pd in Cap Srpls Land Bldg Eqp Fund$2,018,983$2,037,022▲ $18,039
Cash and Non-Interest-Bearing Accounts$1,241,989$1,711,940▲ $469,951
Cap Stk Tr Prin Current Funds$1,320,002$1,641,154▲ $321,152
Accounts Receivable$283,799$426,796▲ $142,997
Prepaid Expenses and Deferred Charges$48,428$5,558▼ $42,870
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0--
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0--
Receivables From Officers Etc$0--
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Inventories for Sale or Use$0--
Loans From Officers Directors$0$0→ $0
Total Assets$3,593,199$4,181,316▲ $588,117
Liabilities
Accounts Payable and Accrued Expenses$254,214$468,753▲ $214,539
Deferred Revenue$0$34,387▲ $34,387
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$254,214$503,140▲ $248,926
Net Assets / Fund Balance
Total Net Assets Fund Balance$3,338,985$3,678,176▲ $339,191
Total Liabilities and Net Assets / Fund Balance$3,593,199$4,181,316▲ $588,117

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$1,667,526$288,477$1,956,003
Equipment$369,496$445,446$814,942
Buildings$0$0$0
Other Land Buildings$0$0$0
Land$0-$0
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Charles WareCEO and Head of SchoolFT$133,335$6,667$140,002

Board Members and Trustees

NameTitle
Scott SolomonChair
Bruce LesserVice Chair
Anthony RoysterDirector
Bruce LevineDirector
Gerald EscovitzDirector
Dior FieldsDirector / Parent Representative
Shonda McCantsDirector / Parent Representative
Dawn EubanksSecretary / Parent Representative
William BrinkmanTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Freire Schools CollaborativeCharter Support Services1617 JFK Boulevard, Suite 580, Philadelphia, PA 19103$811,265
Clean Tech Services IncCleaning and Custodial Services114 Chestnut Street, 15th Floor, Philadelphia, PA 19106$130,853
Revenue and Support

Revenue Composition

Contributions and Grants
$1,439,270
Program Service Revenue
$7,698,943
Investment Income
$0
Other Revenue
$0
All Other Contributions
$53,008
Change in Net Assets
$484,537

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,138,213
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$9,138,213
Total Revenue per Form 990
$9,138,213
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,901,776
Other Expenses$3,744,400
Total Fundraising Expense$53,477
Grants and Similar Amounts Paid$7,500
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,596,507$0$0$3,596,507
Occupancy$1,415,432$74,496$0$1,489,928
Fees for Services Management$561,507$53,477$53,477$668,461
Other Employee Benefits$667,250$0$0$667,250
Payroll Taxes$315,845$1,020$0$316,865
Fees for Services Other$260,657$46,592$0$307,249
Information Technology$305,895$0$0$305,895
Depreciation Depletion$192,806$6,305$0$199,111
Pension Plan Contributions$187,151$667$0$187,818
Current Officers, Directors, Trustees, and Key Employees$120,002$13,334$0$133,336
Insurance$116,585$6,136$0$122,721
Office Expenses$0$81,907$0$81,907
Fees for Services Legal$0$23,726$0$23,726
Advertising$11,635$0$0$11,635
Grants to Domestic Individuals$7,500--$7,500
Other Expenses$4,297$0$0$4,297
Travel$3,901$0$0$3,901
Total Functional Expenses$8,292,539$307,660$53,477$8,653,676

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$8,653,676
Total Expenses per Audited Statements$8,653,676
Total Expenses per Form 990$8,653,676
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Other Expense Adjustments$0
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
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
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
Yes
Audit committee
Yes
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

The sole member of TECH Freire Charter School is Freire Charter School.

Form 990, Part VI, Section A, Line 7A

TECH Freire Charter School's directors are selected by the Member.

Form 990, Part VI, Section A, Line 7B

Powers reserved to the member include: (1) Any action modifying the provision of the by-laws concerning composition, term, election, and/or appointment of directors; (2) any action that would result in the change of the purpose of TECH Freire Charter School, as defined in the articles of incorporation; (3) Any action concerning dissolution or bankruptcy; or (4) Any action that would result in the transfer of all or a substantial portion of TECH Freire Charter School's assets.

Form 990, Part VI, Section B, Line 11B

A draft of Form 990 is circulated to the Board of Directors for review prior to a regularly scheduled board meeting. Questions, comments, and revisions are addressed. A final draft is presented to the Board of Directors for formal review and approval at the subsequent board meeting. Upon approval, the Form 990 is electronically filed.

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

The School generally refrains from engaging in any activity with an actual or perceived conflict of interest. Annually, all Board members and management level employees are required to complete a "Statement of Financial Interest" which is used to monitor possible conflicts of interest. Any board member with an actual or perceived conflict of interest will recuse themselves prior to any vote.

Form 990, Part VI, Section B, Line 15

The Head of School salaries are determined by the Board of Directors. The Board President works with the School's Charter Management Organization to determine fair and reasonable compensation. The full Board of Directors also performs an annual evaluation of the Heads of School.

Form 990, Part VI, Section C, Line 19

All such documents are made available upon request.

Filing and Contact Details

Filer

Filer Name
Tech Freire Charter School
EIN
47-3965219
Phone
2675834458
Address
2221 North Broad Street, Philadelphia, PA 19132

Signing Officer

Name
Charles Ware
Title
Head of School
Phone
2675834458
Signed
2022-02-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Charles Ware
Formed
2014
Legal Domicile
Pa
Voting Board Members
9
Independent Board Members
9
Employees
87
Volunteers
10

Preparer

Firm
Freire Schools Collaborative
Address
1617 JFK Blvd, Suite 580, Philadelphia, PA 19103
Preparer
William Ray
Phone
2675834458
Supplemental Narrative

Financial Statement Notes

Schedule D, Part X, Line 2

The School is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code. Accordingly, no provision for income taxes has been reflected in the School's financial statements. In addition, the School qualifies for the charitable contribution deduction under Section 170(b)(1)(A) and has been classified as an organization that is not a private foundation under Section 509(a)(2). In accordance with FASB ASC standards regarding accounting for uncertainty in income taxes, the School is required to recognize the financial statement effects of a position if it is more likely than not that the position will be sustained upon examination. The School has no uncertain tax positions that qualify for recognition in the financial statements.

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Peer Organizations

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