Civic Intelligence

Lead Charter School Inc

990 • Fiscal year 2022 • EIN 81-2644961

Jul 01, 2021 to Jun 30, 2022 • Filed on May 15, 2023

Organization Profilewww.leadcharterschool.org
201 Bergen StreetNewark, NJ 07103-2402

(862) 772-1725

Siviq Scores

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

Liabilities / Assets

48th percentile

0.23x

Higher debt load relative to assets than 48% of similar nonprofits.

2022 filings • NTEE B • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

25th percentile

0.05x

Higher debt load relative to revenue than 25% of similar nonprofits.

2022 filings • NTEE B • $5M-$10M nonprofits • Source year 2022

Net Margin

53rd percentile

7.9%

Higher net margin than 53% of similar nonprofits.

2022 filings • NTEE B • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

40th percentile

$101,025

Higher top officer pay than 40% of similar nonprofits.

Top officer pay equals 1.7% of source-year revenue.

2022 filings • NTEE B • $5M-$10M nonprofits • Source year 2022

Asset Growth

77th percentile

24%

Faster asset growth than 77% of similar nonprofits.

2022 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

64th percentile

18%

Faster revenue growth than 64% of similar nonprofits.

2022 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets48th percentile

Assets

Up

$1,329,553

Up $256,210 (+24%) from 2021

Net Assets

Up

$1,019,173

Up $468,377 (+85%) from 2021

Liabilities

Down

$310,380

Down $212,167 (-41%) from 2021

Revenue And Expenses
Liabilities / Revenue25th percentileNet Margin53rd percentile

Revenue

Up

$5,918,523

Up $907,295 (+18%) from 2021

Expenses

Up

$5,450,146

Up $194,680 (+3.7%) from 2021

Net Income

Up

$468,377

Up $712,615 (+292%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth77th percentile

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MAssets 2017: -$19,241Liabilities 2017: $25,131Net Assets 2017: -$44,3722017Assets 2018: $277,227Liabilities 2018: $48,860Net Assets 2018: $228,3672018Assets 2019: $648,263Liabilities 2019: $16,588Net Assets 2019: $631,6752019Assets 2020: $1,242,425Liabilities 2020: $447,391Net Assets 2020: $795,0342020Assets 2021: $1,073,343Liabilities 2021: $522,547Net Assets 2021: $550,7962021Assets 2022: $1,329,553Liabilities 2022: $310,380Net Assets 2022: $1,019,1732022Assets 2023: $1,825,266Liabilities 2023: $47,685Net Assets 2023: $1,777,5812023Assets 2024: $3,910,661Liabilities 2024: $332,417Net Assets 2024: $3,578,2442024

Highlighted filing

2022

Assets$1,329,553
Liabilities$310,380
Net Assets$1,019,173
Open 2022 Filing

Operations Trend

Revenue Growth64th percentile

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

$10M$5.0M$0-$5.0MRevenue 2017: $132,983Expenses 2017: $177,355Net Income 2017: -$44,3722017Revenue 2018: $1,709,778Expenses 2018: $1,437,039Net Income 2018: $272,7392018Revenue 2019: $3,626,184Expenses 2019: $3,222,876Net Income 2019: $403,3082019Revenue 2020: $4,340,196Expenses 2020: $4,176,837Net Income 2020: $163,3592020Revenue 2021: $5,011,228Expenses 2021: $5,255,466Net Income 2021: -$244,2382021Revenue 2022: $5,918,523Expenses 2022: $5,450,146Net Income 2022: $468,3772022Revenue 2023: $6,821,301Expenses 2023: $6,062,893Net Income 2023: $758,4082023Revenue 2024: $9,537,937Expenses 2024: $7,737,274Net Income 2024: $1,800,6632024

Highlighted filing

2022

Revenue$5,918,523
Expenses$5,450,146
Net Income$468,377
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 15, 2023
Return Version
2021v4.1
Gross Receipts
$5,918,523
Mission and Program Overview

Mission

The mission of lead charter is to help students ages 16-21 in grades 9-12 to master the essential skills crucial for success in post-secondary education, career and community leadership within a global society.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$115,502$668,241▲ $552,739
Cash and Non-Interest-Bearing Accounts$935,347$613,473▼ $321,874
Land, Buildings, and Equipment, Net-$18,667-
Total Assets$1,073,343$1,329,553▲ $256,210
Other Assets Total$22,494$29,172▲ $6,678
Liabilities
Unsecured Notes Loans Payable$311,723--
Other Liabilities$144,018$306,219▲ $162,201
Accounts Payable and Accrued Expenses$25,800--
Deferred Revenue$41,006$4,161▼ $36,845
Total Liabilities$522,547$310,380▼ $212,167
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$550,796$1,019,173▲ $468,377
Total Net Assets Fund Balance$550,796$1,019,173▲ $468,377
Total Liabilities and Net Assets / Fund Balance$1,073,343$1,329,553▲ $256,210

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$18,667$4,667$23,334
Land$0--
Other Assets Org$29,172--
Compensation and Service Providers
Top Officer Pay40th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Daniel CruzSupervisor of InstructionFT$101,025$101,025
Dr Dowayne DavisChief Operations OfficerFT$78,500$78,500

Board Members and Trustees

NameTitle
Craig DrinkardChair
Rodney BruttonVice Chair
Dominique LeeMember
Jennifer FinnertyMember
Laura GoldsteinMember
Scott EmerickMember
Revenue and Support

Revenue Composition

Contributions and Grants
$5,873,994
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$44,529
Change in Net Assets
$468,377

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,918,523
Total Revenue per Audited Statements
$5,918,523
Total Revenue per Form 990
$5,918,523
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,927,966
Other Expenses$2,522,180
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,417,510$469,389$0$1,886,899
Occupancy$824,597$0$0$824,597
Fees for Services Other$459,958$306,639$0$766,597
Other Employee Benefits$379,653$148,636$0$528,289
Fees for Services Management$0$329,123$0$329,123
Current Officers, Directors, Trustees, and Key Employees$77,200$115,800$0$193,000
Pension Plan Contributions$64,266$96,400$0$160,666
Payroll Taxes$114,345$44,767$0$159,112
Fees for Services Accounting$0$125,661$0$125,661
All Other Expenses$92,705$0$0$92,705
Insurance$78,496$0$0$78,496
Interest$18,101$0$0$18,101
Other Expenses$7,917$5,278$0$13,195
Fees for Services Legal$0$7,212$0$7,212
Depreciation Depletion$4,014$653$0$4,667
Total Functional Expenses$3,738,369$1,711,777$0$5,450,146

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$5,468,813
Total Expenses per Form 990$5,450,146
Expenses per Audited Statements$5,445,479
Expenses Not Reported on Form 990$23,334
Expenses Not Reported on Financial Statements$4,667
Other Expense Adjustments$4,667
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Intergovernmental State Payable$274,785
Payroll Deductions & Withholdings$31,434
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes
Filing and Contact Details

Filer

Filer Name
Lead Charter School Inc
EIN
81-2644961
Phone
8627721725
Address
201 BERGEN STREET, NEWARK, NJ 07103-2402

Signing Officer

Name
Dr Dowayne Davis
Title
Executive Director of Operations &
Phone
8627721725
Signed
2023-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Dowayne Davis
Formed
2016
Legal Domicile
Nj
Voting Board Members
6
Independent Board Members
6
Employees
43
Volunteers
5

Preparer

Firm
Olugbenga Olabintan CPA Inc
Address
137 CAMDEN ST STE 3, NEWARK, NJ 07103
Preparer
Olugbenga Olabintan CPA
Phone
2012307518
Supplemental Narrative

Additional Explanations

Pt VI, Line 3

“The charter school has a management agreement with a new jersey nonprofit organization. The agreement includes the provision of educational and management services including operational and administrative supports to the charter school. The agreement calls for the payment of monthly fees equal to 10% of the charter school's revenue.”

Pt VI, Line 11B

“Form 990 is reviewed by the board of trustees of the charter school before mailing.”

Pt VI, Line 12C

“Disclosure of conflict of interest by all board members is mandated by njdoe and new jersey state laws.”

Pt VI, Line 15A

“All annual salaries including salaries of head of school and main administrators are subject to approval by the board of the charter school. Such salaries are also compared to the salaries of comparable officials at other new jersey charter schools and new jersey school districts.”

Pt VI, Line 15B

“SEE EXPLANATION FOR PART VI, LINE 15a IMMEDIATELY ABOVE THIS LINE.”

Pt VI, Line 18

“The charter school makes its forms 1023 and 990 available to the public upon request and by contacting the school at: 201 bergen street, newark, nj 07103. Tel: 862-772-1725. The form 990 could also be obtained through other's website: www.guidestar.org”

Pt VI, Line 19

“The charter school makes its governing documents, conflict of interest policy and financial statements available to the public upon request and by contacting the school at: 201 bergen street, newark, nj 07103. Tel: 862-772-1725.”

Financial Statement Notes

Pt XII, Line 2D

“Capital expenditures expensed under new jersey gaap but capitalized on the balance sheet under us gaap.”

Pt XII, Line 4B

“Depreciation expense charged under us gaap but not recognized under new jersey gaap.”

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IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01417510
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IRS990/PensionPlanContributionsGrp/FundraisingAmt00
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt096400
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt064266
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IRS990/PrincipalOfficerNm0DR DOWAYNE DAVIS
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IRS990/PYContributionsGrantsAmt05006459
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IRS990/PYOtherExpensesAmt02190197
IRS990/PYOtherRevenueAmt04769
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IRS990/PYRevenuesLessExpensesAmt0-244238
IRS990/PYSalariesCompEmpBnftPaidAmt03065269
IRS990/PYTotalExpensesAmt05255466
IRS990/PYTotalRevenueAmt05011228
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0468377
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IRS990/RelatedOrganizationCtrlEntInd0false
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportOtherLiabilitiesInd0true
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IRS990ScheduleA/OtherSupportSumAmt00
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IRS990ScheduleA/PublicSupportCY509Pct00
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IRS990ScheduleD/ExpensesNotRptFinclStmtAmt04667
IRS990ScheduleD/ExpensesSubtotalAmt05445479
IRS990ScheduleD/LandGrp/BookValueAmt00
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt018667
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt04667
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt023334
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt029172
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0OTHER CURRENT ASSETS
IRS990ScheduleD/OtherExpensesIncludedAmt023334
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt131434
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0INTERGOVERNMENTAL STATE PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PAYROLL DEDUCTIONS & WITHHOLDINGS
IRS990ScheduleD/RevenueSubtotalAmt05918523
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0CAPITAL EXPENDITURES EXPENSED UNDER NEW JERSEY GAAP BUT CAPITALIZED ON THE BALANCE SHEET UNDER US GAAP.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1DEPRECIATION EXPENSE CHARGED UNDER US GAAP BUT NOT RECOGNIZED UNDER NEW JERSEY GAAP.
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IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt XII, Line 4b
IRS990ScheduleD/TotalBookValueLandBuildingsAmt018667
IRS990ScheduleD/TotalBookValueOtherAssetsAmt029172
IRS990ScheduleD/TotalExpensesPerForm990Amt05450146
IRS990ScheduleD/TotalLiabilityAmt0306219
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IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
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IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE CHARTER SCHOOL'S NONDISCRIMINATORY POLICY IS NOTED AT THE BOTTOM OF FLYERS DISTRIBUTED FOR RECRUIMENT PURPOSES. IT IS NOTED IN RADIO BROADCAST AND THROUGH CABLE TELEVISION ADS, AS WELL AS IN NEWSPAPER ADS. SEE EXPLANATION ON SCHEDULE E, PART I, LINE 3.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE CHARTER SCHOOL IS PRIMARILY FUNDED BY NEW JERSEY DEPARTMENT OF EDUCATION. THE CHARTER SCHOOL'S RIGHT TO SUCH AID HAS NOT BEEN REVOKED OR SUSPENDED.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Line 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Line 6b
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CHARTER SCHOOL HAS A MANAGEMENT AGREEMENT WITH A NEW JERSEY NONPROFIT ORGANIZATION. THE AGREEMENT INCLUDES THE PROVISION OF EDUCATIONAL AND MANAGEMENT SERVICES INCLUDING OPERATIONAL AND ADMINISTRATIVE SUPPORTS TO THE CHARTER SCHOOL. THE AGREEMENT CALLS FOR THE PAYMENT OF MONTHLY FEES EQUAL TO 10% OF THE CHARTER SCHOOL'S REVENUE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS REVIEWED BY THE BOARD OF TRUSTEES OF THE CHARTER SCHOOL BEFORE MAILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DISCLOSURE OF CONFLICT OF INTEREST BY ALL BOARD MEMBERS IS MANDATED BY NJDOE AND NEW JERSEY STATE LAWS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL ANNUAL SALARIES INCLUDING SALARIES OF HEAD OF SCHOOL AND MAIN ADMINISTRATORS ARE SUBJECT TO APPROVAL BY THE BOARD OF THE CHARTER SCHOOL. SUCH SALARIES ARE ALSO COMPARED TO THE SALARIES OF COMPARABLE OFFICIALS AT OTHER NEW JERSEY CHARTER SCHOOLS AND NEW JERSEY SCHOOL DISTRICTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4SEE EXPLANATION FOR PART VI, LINE 15a IMMEDIATELY ABOVE THIS LINE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE CHARTER SCHOOL MAKES ITS FORMS 1023 AND 990 AVAILABLE TO THE PUBLIC UPON REQUEST AND BY CONTACTING THE SCHOOL AT: 201 BERGEN STREET, NEWARK, NJ 07103. TEL: 862-772-1725. THE FORM 990 COULD ALSO BE OBTAINED THROUGH OTHER'S WEBSITE: WWW.GUIDESTAR.ORG
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE CHARTER SCHOOL MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST AND BY CONTACTING THE SCHOOL AT: 201 BERGEN STREET, NEWARK, NJ 07103. TEL: 862-772-1725.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Pt VI, Line 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Pt VI, Line 19
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IRS990/TaxablePartyNotificationInd0false
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IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/EOYAmt01329553
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IRS990/TotalContributionsAmt05873994
IRS990/TotalEmployeeCnt043
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03738369
IRS990/TotalFunctionalExpensesGrp/TotalAmt05450146
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IRS990/TotalLiabilitiesBOYAmt0522547
IRS990/TotalLiabilitiesEOYAmt0310380
IRS990/TotalLiabilitiesGrp/BOYAmt0522547
IRS990/TotalLiabilitiesGrp/EOYAmt0310380
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IRS990/TotalProgramServiceRevenueAmt00
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt05918523
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01073343
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01329553

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,329,553
Liabilities
$310,380
Net assets
$1,019,173
Revenue
$5,918,523
Expenses
$5,450,146
Net income
$468,377
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.91$0.33$3.58$9.54$7.74$1.80
2023Detailed filing. Detailed filing data is available for this year.$1.83$0.05$1.78$6.82$6.06$0.76
2022Detailed filing. Detailed filing data is available for this year.$1.33$0.31$1.02$5.92$5.45$0.47
2021Detailed filing. Detailed filing data is available for this year.$1.07$0.52$0.55$5.01$5.26$0.24
2020Summary only. Only limited summary data is available for this year.$1.24$0.45$0.80$4.34$4.18$0.16
2019Summary only. Only limited summary data is available for this year.$0.65$0.02$0.63$3.63$3.22$0.40
2018Summary only. Only limited summary data is available for this year.$0.28$0.05$0.23$1.71$1.44$0.27
2017Summary only. Only limited summary data is available for this year.$0.02$0.03$0.04$0.13$0.18$0.04