Civic Intelligence

Frankford Valley Foundation for Literacy

EIN 54-2100509 • 501(c)3 • Philadelphia, PA

Profile

The frankford valley foundation for literacy is a non-profit organization, 501(c)(3), that was designated for the benefit of the community. Their mission is to support and expand opportunities for advancement to every member of the community. The organization leases property to the first philadelphia preparatory charter school, which is a tax exempt organization under irc 501(c)(3).

4300 Tacony StreetPhiladelphia, PA 19134

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

95th percentile

1.05x

Higher debt load relative to assets than 95% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

96th percentile

8.98x

Higher debt load relative to revenue than 96% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Net Margin

11th percentile

-19%

Higher net margin than 11% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

9th percentile

$0

Higher top officer pay than 9% of similar nonprofits.

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

501(c)3 • $25M-$50M nonprofits • Source year 2024

Asset Growth

14th percentile

-5.4%

Faster asset growth than 14% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

43rd percentile

4.8%

Faster revenue growth than 43% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Assets

Down

$33,634,074

Down $1,902,360 (-5.4%) from 2023

Liabilities

Down

$35,409,232

Down $1,154,673 (-3.2%) from 2023

Net Assets

Down

-$1,775,158

Down $747,687 (-73%) from 2023

Revenue

Up

$3,942,636

Up $181,344 (+4.8%) from 2023

Expenses

Up

$4,690,323

Up $818,481 (+21%) from 2023

Net Income

Down

-$747,687

Down $637,137 (-576%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$60M$40M$20M$0-$20MAssets 2010: $19,408,166Liabilities 2010: $17,685,396Net Assets 2010: $1,722,7702010Assets 2011: $18,759,602Liabilities 2011: $17,182,852Net Assets 2011: $1,576,7502011Assets 2012: $18,983,396Liabilities 2012: $17,593,047Net Assets 2012: $1,390,3492012Assets 2013: $19,173,751Liabilities 2013: $17,954,520Net Assets 2013: $1,219,2312013Assets 2014: $44,867,473Liabilities 2014: $43,660,188Net Assets 2014: $1,207,2852014Assets 2015: $43,347,400Liabilities 2015: $42,482,573Net Assets 2015: $864,8272015Assets 2016: $41,605,125Liabilities 2016: $41,716,453Net Assets 2016: -$111,3282016Assets 2017: $41,847,817Liabilities 2017: $40,858,777Net Assets 2017: $989,0402017Assets 2018: $41,741,871Liabilities 2018: $41,398,803Net Assets 2018: $343,0682018Assets 2019: $40,153,534Liabilities 2019: $40,333,390Net Assets 2019: -$179,8562019Assets 2020: $38,637,515Liabilities 2020: $39,191,014Net Assets 2020: -$553,4992020Assets 2021: $37,627,469Liabilities 2021: $38,275,155Net Assets 2021: -$647,6862021Assets 2022: $36,655,950Liabilities 2022: $37,572,871Net Assets 2022: -$916,9212022Assets 2023: $35,536,434Liabilities 2023: $36,563,905Net Assets 2023: -$1,027,4712023Assets 2024: $33,634,074Liabilities 2024: $35,409,232Net Assets 2024: -$1,775,1582024

Highlighted filing

2024

Assets$33,634,074
Liabilities$35,409,232
Net Assets-$1,775,158

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $1,555,9272010Expenses 2011: $1,556,9052011Expenses 2012: $1,618,6262012Expenses 2013: $1,615,6882013Revenue 2014: $1,929,564Expenses 2014: $1,941,510Net Income 2014: -$11,9462014Revenue 2015: $2,566,239Expenses 2015: $2,908,697Net Income 2015: -$342,4582015Revenue 2016: $3,469,194Expenses 2016: $4,445,349Net Income 2016: -$976,1552016Revenue 2017: $3,734,682Expenses 2017: $4,442,442Net Income 2017: -$707,7602017Revenue 2018: $3,646,486Expenses 2018: $4,292,459Net Income 2018: -$645,9732018Revenue 2019: $3,687,700Expenses 2019: $4,210,624Net Income 2019: -$522,9242019Revenue 2020: $3,755,795Expenses 2020: $4,129,439Net Income 2020: -$373,6442020Revenue 2021: $3,946,104Expenses 2021: $4,040,291Net Income 2021: -$94,1872021Revenue 2022: $3,710,685Expenses 2022: $3,979,920Net Income 2022: -$269,2352022Revenue 2023: $3,761,292Expenses 2023: $3,871,842Net Income 2023: -$110,5502023Revenue 2024: $3,942,636Expenses 2024: $4,690,323Net Income 2024: -$747,6872024

Highlighted filing

2024

Revenue$3,942,636
Expenses$4,690,323
Net Income-$747,687

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$33.6$35.4$1.78$3.94$4.69$0.75
2023Detailed filing. Detailed filing data is available for this year.$35.5$36.6$1.03$3.76$3.87$0.11
2022Detailed filing. Detailed filing data is available for this year.$36.7$37.6$0.92$3.71$3.98$0.27
2021Detailed filing. Detailed filing data is available for this year.$37.6$38.3$0.65$3.95$4.04$0.09
2020Detailed filing. Detailed filing data is available for this year.$38.6$39.2$0.55$3.76$4.13$0.37
2019Detailed filing. Detailed filing data is available for this year.$40.2$40.3$0.18$3.69$4.21$0.52
2018Detailed filing. Detailed filing data is available for this year.$41.7$41.4$0.34$3.65$4.29$0.65
2017Detailed filing. Detailed filing data is available for this year.$41.8$40.9$0.99$3.73$4.44$0.71
2016Summary only. Only limited summary data is available for this year.$41.6$41.7$0.11$3.47$4.45$0.98
2015Detailed filing. Detailed filing data is available for this year.$43.3$42.5$0.86$2.57$2.91$0.34
2014Detailed filing. Detailed filing data is available for this year.$44.9$43.7$1.21$1.93$1.94$0.01
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.2$18.0$1.22$1.62
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.0$17.6$1.39$1.62
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.8$17.2$1.58$1.56
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.4$17.7$1.72$1.56
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 15, 2025
Return Version
2023v6.0
Gross Receipts
$3,942,636
Mission and Program Overview

Mission

The frankford valley foundation for literacy is a non profit organization, 501(c)(3), that was designated for the benefit of the community. Their mission is to support and expand opportunities for advancement to every member of the community. The organization leases property to the first philadelphia preparatory charter school, which is a tax exempt organization under irc 501(c)(3).

To support and expand opportunities for advancement to every member of the community. The organization leases property to the first philadelphia preparatory charter school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$28,689,954$27,719,842▼ $970,112
Cash and Non-Interest-Bearing Accounts$147,993$164,726▲ $16,733
Prepaid Expenses and Deferred Charges$95,753$0▼ $95,753
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$35,536,434$33,634,074▼ $1,902,360
Other Assets Total$6,602,734$5,749,506▼ $853,228
Liabilities
Tax Exempt Bond Liabilities$35,938,105$35,203,843▼ $734,262
Deferred Revenue$262,165$0▼ $262,165
Other Liabilities$253,943$181,772▼ $72,171
Accounts Payable and Accrued Expenses$109,692$23,617▼ $86,075
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Total Liabilities$36,563,905$35,409,232▼ $1,154,673
Net Assets / Fund Balance
Net Assets With Donor Restrictions$0$0→ $0
Net Assets Without Donor Restrictions$-1,027,471$-1,775,158▼ $747,687
Total Net Assets Fund Balance$-1,027,471$-1,775,158▼ $747,687
Total Liabilities and Net Assets / Fund Balance$35,536,434$33,634,074▼ $1,902,360

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$25,514,934$12,319,447$37,834,381
Land$2,204,908-$2,204,908
Other Assets Org$2,063,125--
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,860,543
Investment Income
$82,083
Other Revenue
$10
Change in Net Assets
$-747,687

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,942,636
Total Revenue per Audited Statements
$3,942,636
Total Revenue per Form 990
$3,942,636
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,690,323
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$3,389,283--$3,389,283
Depreciation Depletion$970,112--$970,112
Insurance$236,664--$236,664
Office Expenses$35,295$21,935-$57,230
Fees for Services Legal$23,618--$23,618
Fees for Services Accounting$13,416--$13,416
Total Functional Expenses$4,668,388$21,935$0$4,690,323

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,690,323
Total Expenses per Audited Statements$4,690,323
Total Expenses per Form 990$4,690,323
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
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$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Affiliate$181,772

Bond Issues

BondIssuerIssuedIssue PricePurpose
APhiladelphia Authority for Industrial Development2024-06-26$36,209,703See Part VI

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$36,209,703$32,534,418$0$724,194

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
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 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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

The organization outsources its business management duties to santilli & thomson, llc.

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

Form 990 is prepared by the organization's outside, independent cpa firm and reviewed by the board president prior to filing.

Form 990, Part VI, Section C, Line 18

The organization makes its form 990 available through www.guidestar.org, dunn and bradstreet, and through request via right to know.

Form 990, Part VI, Section C, Line 19

The organization makes information available through www.guidestar.org, dunn and bradstreet, and through request via right to know.

Filing and Contact Details

Filer

Filer Name
Frankford Valley Foundation For Literacy
EIN
54-2100509
In Care Of
% SANTILLI & THOMSON LLC
Phone
2157433100
Address
4300 Tacony Street, Philadelphia, PA 19134

Signing Officer

Name
Anita Kaiser
Title
President
Phone
2157433100
Signed
2025-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Anita Kaiser
Formed
2003
Legal Domicile
Pa
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Firm
Withumsmithbrown Pc
Address
1835 MARKET STREET SUITE 1710, PHILADELPHIA, PA 19103-2945
Preparer
Eric M Strauss
Phone
2155462140
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

The process has not changed from the prior year.

Financial Statement Notes

Form 990, Schedule D, Part X, Line 2

The organization is exempt from federal income taxes under section 501(c)(3) of the internal revenue code and exempt from state under state taxes under state law. There were no uncertain tax positions at june 30, 2024 and 2023. The organization had no interest or penalties for the years ended june 30, 2024 and 2023. As of june 30, 2024, the tax periods remaining open for examinations are fiscal years ended june 30, 2020 through 2024.

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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE SUPPORTED ORGANIZATION LEASED A BUILDING FROM THE SUPPORTING ORGANIZATION.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION B, LINE 1
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND EXEMPT FROM STATE UNDER STATE TAXES UNDER STATE LAW. THERE WERE NO UNCERTAIN TAX POSITIONS AT JUNE 30, 2024 AND 2023. THE ORGANIZATION HAD NO INTEREST OR PENALTIES FOR THE YEARS ENDED JUNE 30, 2024 AND 2023. AS OF JUNE 30, 2024, THE TAX PERIODS REMAINING OPEN FOR EXAMINATIONS ARE FISCAL YEARS ENDED JUNE 30, 2020 THROUGH 2024.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, SCHEDULE D, PART X, LINE 2
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IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt0refunding all of the outstanding amount of the Authority's Revenue Bonds (First Philadelphia Preparatory Charter School Project), Series A of 2014 originally issued in the aggregate principal amount of $40,945,000 making a deposit to the Debt Service Reserve Fund (as defined herein) for the Series 2024 Bonds paying issuance costs of the Series 2024 Bonds
IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Schedule K, Part I - Line A
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0See Part VI
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION OUTSOURCES ITS BUSINESS MANAGEMENT DUTIES TO SANTILLI & THOMSON, LLC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS PREPARED BY THE ORGANIZATION'S OUTSIDE, INDEPENDENT CPA FIRM AND REVIEWED BY THE BOARD PRESIDENT PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE THROUGH WWW.GUIDESTAR.ORG, DUNN AND BRADSTREET, AND THROUGH REQUEST VIA RIGHT TO KNOW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES INFORMATION AVAILABLE THROUGH WWW.GUIDESTAR.ORG, DUNN AND BRADSTREET, AND THROUGH REQUEST VIA RIGHT TO KNOW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C
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