Civic Intelligence

Middlesex County STEM Charter School

990 • Fiscal year 2019 • EIN 82-4816745

Jul 01, 2018 to Jun 30, 2019 • Filed on May 13, 2020

430 Market StPerth Amboy, NJ 08861

(848) 242-1818

Siviq Scores

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

Liabilities / Assets

95th percentile

1.23x

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

2019 filings • NTEE B • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

69th percentile

0.24x

Higher debt load relative to revenue than 69% of similar nonprofits.

2019 filings • NTEE B • $1M-$5M nonprofits • Source year 2019

Net Margin

22nd percentile

-4.5%

Higher net margin than 22% of similar nonprofits.

2019 filings • NTEE B • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

52nd percentile

$71,356

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 6.1% of source-year revenue.

2019 filings • NTEE B • $1M-$5M nonprofits • Source year 2019

Asset Growth

Score unavailable

No value available

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

Source year 2019

Revenue Growth

Score unavailable

No value available

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

Source year 2019

Assets

$229,933

No earlier filing loaded for comparison.

Net Assets

-$52,974

No earlier filing loaded for comparison.

Liabilities

$282,907

No earlier filing loaded for comparison.

Revenue

$1,179,283

No earlier filing loaded for comparison.

Expenses

$1,232,257

No earlier filing loaded for comparison.

Net Income

-$52,974

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.

$3.0M$2.0M$1.0M$0-$1.0MAssets 2019: $229,933Liabilities 2019: $282,907Net Assets 2019: -$52,9742019Assets 2020: $673,567Liabilities 2020: $286,284Net Assets 2020: $387,2832020Assets 2021: $2,241,479Liabilities 2021: $708,653Net Assets 2021: $1,532,8262021Assets 2022: $2,080,922Liabilities 2022: $170,160Net Assets 2022: $1,910,7622022Assets 2023: $2,771,423Liabilities 2023: $123,188Net Assets 2023: $2,648,2352023Assets 2024: $2,800,580Liabilities 2024: $384,602Net Assets 2024: $2,415,9782024

Highlighted filing

2019

Assets$229,933
Liabilities$282,907
Net Assets-$52,974

Operations Trend

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

$15M$10M$5.0M$0-$5.0MRevenue 2019: $1,179,283Expenses 2019: $1,232,257Net Income 2019: -$52,9742019Revenue 2020: $2,842,452Expenses 2020: $2,402,195Net Income 2020: $440,2572020Revenue 2021: $4,048,669Expenses 2021: $2,903,263Net Income 2021: $1,145,4062021Revenue 2022: $5,584,852Expenses 2022: $4,956,021Net Income 2022: $628,8312022Revenue 2023: $7,799,916Expenses 2023: $7,062,443Net Income 2023: $737,4732023Revenue 2024: $11,920,406Expenses 2024: $12,152,663Net Income 2024: -$232,2572024

Highlighted filing

2019

Revenue$1,179,283
Expenses$1,232,257
Net Income-$52,974
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
May 13, 2020
Return Version
2018v3.1
Gross Receipts
$1,221,557
Mission and Program Overview

Mission

The mission of the Middlesex County STEM Charter School is to provide rigorous science, technology,engineering, and math curricula in a diverse and nurturing environment to spark studentsinterest at early ages in STEM careers. The vision of Middlesex County STEM Charter School is to prepare students for the 21st century, which demands a more comprehensive skill set to be possessed by each member of our society. Due to constant technological breakthroughs, our students will enter a global market where they will compete with people from all over the worldfor high-tech jobs that require critical thinking and problem-solving skills. Sparking studentsinterest at early ages, Middlesex County STEM Charter School helps students prepare for such a market by exposing them to a comprehensive science, technology, engineering, and math (STEM) program with rigor and relevance. Middlesex County STEM Charter Schools STEMoriented instructional model promotes collaborative, cross-curricular learning, wh

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable-$114,612-
Pledges and Grants Receivable-$53,353-
Land, Buildings, and Equipment, Net-$35,886-
Prepaid Expenses and Deferred Charges-$16,150-
Cash and Non-Interest-Bearing Accounts-$9,932-
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$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$229,933▲ $229,933
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses-$262,823-
Other Liabilities-$20,084-
Total Liabilities$0$282,907▲ $282,907
Net Assets / Fund Balance
Unrestricted Net Assets-$-52,974-
Total Net Assets Fund Balance$0$-52,974▼ $52,974
Total Liabilities and Net Assets / Fund Balance$0$229,933▲ $229,933

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$35,886$8,971$44,857
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Jeanette MeyerPresidentFT$71,356$71,356
Dina AbdelamidOperation MgrFT$35,032$35,032
Namik SercanCEOFT$13,622$13,622
Fatih KayalarSbaPT$11,703$11,703

Board Members and Trustees

NameTitle
Anthony AttanasioTrustee
Jackie LewisTrustee
John CascaranoTrustee
Ozcan UzunTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$1,191,912
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$-12,629
All Other Contributions
$197,479
Change in Net Assets
$-52,974
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$769,989
Other Expenses$462,268
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$430,833$44,978-$475,811
Occupancy$140,805$80,205-$221,010
Other Employee Benefits$90,854$51,752-$142,606
Current Officers, Directors, Trustees, and Key Employees-$131,713-$131,713
Fees for Services Management$82,228$46,838-$129,066
Office Expenses$50,040$28,504-$78,544
Insurance$13,143$7,487-$20,630
Pension Plan Contributions$12,652$7,207-$19,859
Depreciation Depletion$5,715$3,256-$8,971
Fees for Services Legal-$2,797-$2,797
Travel$796$454-$1,250
Total Functional Expenses$827,066$405,191$0$1,232,257
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
Other Current Liabilities$20,084
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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

No review was or will be conducted.

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 central jersey college prep 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 central jersey college prep charter school will be provided upon request. 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

Filer Name
Middlesex County Stem Charter School
EIN
82-4816745
Phone
8482421818
Address
430 MARKET ST, PERTH AMBOY, NJ 08861

Signing Officer

Name
Fatih Kayalar
Title
President
Signed
2020-05-13
Discuss with paid preparer
Yes

Organization Details

Legal Domicile
Nj
Voting Board Members
4
Independent Board Members
4
Employees
34

Preparer

Firm
Barre & Company LLC
Address
2204 MORRIS AVE STE 206, UNION, NJ 07083-5914
Preparer
Richard Barre
Phone
9086863484
Supplemental Narrative

Additional Explanations

Document Retention and Destruction

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

Whistleblower Policy

Middlesex county stem charter school has a written whistleblower policy which prohibits discrimination or retaliation against any school employee who: (1) discloses or threatens to disclose to a supervisor or appropriate entity a policy or practice which the employee reasonably believes is in violation of law; (2) provides information to any public body conducting an investigation or inquiry into any alleged violation of law; or (3) objects to, or refuses to participate in any activity, policy or practice which the employee reasonably believes is in violation of law, is fraudulent or criminal, or is incompatible with public health or safety.

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IRS990/MissionDesc0The mission of the Middlesex County STEM Charter School is to provide rigorous science, technology,engineering, and math curricula in a diverse and nurturing environment to spark studentsinterest at early ages in STEM careers. The vision of Middlesex County STEM Charter School is to prepare students for the 21st century, which demands a more comprehensive skill set to be possessed by each member of our society. Due to constant technological breakthroughs, our students will enter a global market where they will compete with people from all over the worldfor high-tech jobs that require critical thinking and problem-solving skills. Sparking studentsinterest at early ages, Middlesex County STEM Charter School helps students prepare for such a market by exposing them to a comprehensive science, technology, engineering, and math (STEM) program with rigor and relevance. Middlesex County STEM Charter Schools STEMoriented instructional model promotes collaborative, cross-curricular learning, wh
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0MIDDLESEX COUNTY STEMS 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. FURTHERMORE, THIS POLICY IS SET FORTH IN THE CHARTER SCHOOL BROCHURE, AND IT WILL BE DISPLAYED ON ITS WEBSITE.IN ADDITION, MIDDLESEX COUNTY STEMS 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. FURTHERMORE, THIS POLICY IS SET FORTH IN THE CHARTER SCHOOL BROCHURE, AND IT WILL BE DISPLAYED ON ITS WEBSITE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE 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/FormAndLineReferenceDesc0Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Line 4 - Explanation of Records and Materials Not Maintained
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule E, Line 5 - Explanation of Organization Discrimination by Race
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc3Schedule E, Line 6 - Explanation of Aid or Assistance from Governmental Agency
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0No review was or will be conducted.
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 CENTRAL JERSEY COLLEGE PREP 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 CENTRAL JERSEY COLLEGE PREP CHARTER SCHOOL WILL BE PROVIDED UPON REQUEST. 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/ExplanationTxt6MIDDLESEX COUNTY STEM CHARTER SCHOOL HAS A WRITTEN WHISTLEBLOWER POLICY WHICH PROHIBITS DISCRIMINATION OR RETALIATION AGAINST ANY SCHOOL EMPLOYEE WHO: (1) DISCLOSES OR THREATENS TO DISCLOSE TO A SUPERVISOR OR APPROPRIATE ENTITY A POLICY OR PRACTICE WHICH THE EMPLOYEE REASONABLY BELIEVES IS IN VIOLATION OF LAW; (2) PROVIDES INFORMATION TO ANY PUBLIC BODY CONDUCTING AN INVESTIGATION OR INQUIRY INTO ANY ALLEGED VIOLATION OF LAW; OR (3) OBJECTS TO, OR REFUSES TO PARTICIPATE IN ANY ACTIVITY, POLICY OR PRACTICE WHICH THE EMPLOYEE REASONABLY BELIEVES IS IN VIOLATION OF LAW, IS FRAUDULENT OR CRIMINAL, OR IS INCOMPATIBLE WITH PUBLIC HEALTH OR SAFETY.
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6WHISTLEBLOWER POLICY
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ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0FATIH KAYALAR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-05-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MIDDLESEX COUNTY STEM CHARTER SCHOOL
ReturnHeader/Filer/BusinessNameControlTxt0MIDD
ReturnHeader/Filer/EIN0824816745
ReturnHeader/Filer/PhoneNum08482421818
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ReturnHeader/Filer/USAddress/ZIPCd008861
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0821362217
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BARRE & COMPANY LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02204 MORRIS AVE STE 206
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0UNION
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0070835914
ReturnHeader/PreparerPersonGrp/PhoneNum09086863484
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Richard Barre
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02020-05-13T11:12:18-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

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