Civic Intelligence

Middlesex County STEM Charter School

990 • Fiscal year 2022 • EIN 82-4816745

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

613 Carlock AvenuePerth Amboy, NJ 08861

(848) 242-1818

Siviq Scores

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

Liabilities / Assets

32nd percentile

0.08x

Higher debt load relative to assets than 32% of similar nonprofits.

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

Liabilities / Revenue

19th percentile

0.03x

Higher debt load relative to revenue than 19% of similar nonprofits.

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

Net Margin

62nd percentile

11%

Higher net margin than 62% of similar nonprofits.

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

Top Officer Pay

24th percentile

$0

Higher top officer pay than 24% of similar nonprofits.

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

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

Asset Growth

21st percentile

-7.2%

Faster asset growth than 21% of similar nonprofits.

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

Revenue Growth

80th percentile

38%

Faster revenue growth than 80% of similar nonprofits.

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

Assets

Flat

$2,080,922

Flat from 2022

Net Assets

Flat

$1,910,762

Flat from 2022

Liabilities

Flat

$170,160

Flat from 2022

Revenue

Flat

$5,584,852

Flat from 2022

Expenses

Flat

$4,956,021

Flat from 2022

Net Income

Flat

$628,831

Flat from 2022

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 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

2022

Assets$2,080,922
Liabilities$170,160
Net Assets$1,910,762

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 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

2022

Revenue$5,584,852
Expenses$4,956,021
Net Income$628,831
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 15, 2023
Return Version
2021v4.2
Gross Receipts
$5,584,852
Mission and Program Overview

Mission

MIDDLESEX COUNTY STEM CHARTER SCHOOL provides a full range of services appropriate to grades kindergarten thru grade 4. These services include regular, as well as, special education and basic skills instruction. The Charter School completed its 4th year of operation for the 2021-2022 school year with an enrollment of 332 students.

See Schedule O

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$913,659$1,332,515▲ $418,856
Cash and Non-Interest-Bearing Accounts$1,059,216$690,615▼ $368,601
Land, Buildings, and Equipment, Net$252,454--
Prepaid Expenses and Deferred Charges$16,150--
Total Assets$2,241,479$2,080,922▼ $160,557
Other Assets Total-$57,792-
Liabilities
Unsecured Notes Loans Payable$208,486--
Accounts Payable and Accrued Expenses$358,466$125,204▼ $233,262
Deferred Revenue$134,284$32,618▼ $101,666
Grants Payable$7,417$12,338▲ $4,921
Total Liabilities$708,653$170,160▼ $538,493
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,532,689$1,904,023▲ $371,334
Net Assets With Donor Restrictions$137$6,739▲ $6,602
Total Net Assets Fund Balance$1,532,826$1,910,762▲ $377,936
Total Liabilities and Net Assets / Fund Balance$2,241,479$2,080,922▼ $160,557
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$5,533,863
Program Service Revenue
$50,989
Investment Income
$0
Other Revenue
$0
All Other Contributions
$135,588
Change in Net Assets
$628,831

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,584,852
Total Revenue per Audited Statements
$5,584,852
Total Revenue per Form 990
$5,584,852
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,133,951
Other Expenses$1,822,070
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,044,099$559,849-$2,603,948
Occupancy$485,211$132,892-$618,103
Other Employee Benefits$416,052$113,951-$530,003
Other Expenses$78,053$21,378-$99,431
All Other Expenses$65,193$17,855-$83,048
Total Functional Expenses$3,938,072$1,017,949$0$4,956,021

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,956,021
Total Expenses per Audited Statements$4,956,021
Total Expenses per Form 990$4,956,021
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
Federal income taxes-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
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, Line 11B

The board reviews the form 990 before filing

Form 990, Part VI, Line 15A and B

All compensation of all employees is reviewed and evaluated by the Board of Trustees of the Middlesex County Stem Charter School.

Form 990, Part VI, Line 19

All of the minutes of the meetings and Annual Audit and financial reports etc are available upon request.

Form 990, Part VI, Line 19

The Charter School follows the Federal and State of NJ regulations and standards governing the record retention and destruction.

Form 990, Part VI, Line 19

The school maintains an extensive written Whistleblower Policy

Filing and Contact Details

Filer

Filer Name
Middlesex County Stem Charter School
EIN
82-4816745
In Care Of
% Namik Sercan
Phone
8482421818
Address
613 CARLOCK AVENUE, PERTH AMBOY, NJ 08861

Signing Officer

Name
Namik Sercan
Title
Chief Education Officer
Phone
8482421818
Signed
2023-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Namik Sercan
Formed
2018
Legal Domicile
Nj
Voting Board Members
5
Independent Board Members
5
Employees
79

Preparer

Firm
Scott J Loeffler CPA
Address
186 COLUMBIA TPKE 5145, FLORHAM PARK, NJ 07932
Preparer
Scott J Loeffler CPA
Phone
9735854989
Supplemental Narrative

Additional Explanations

Form 990, Part I, Section E, Line 3

Racially Nondiscrimination Policy Practiced MIddlesex County Stems Charter School maintains a racially nondiscriminatory policy towards all students, in that the charter school coes ot 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 an dis communicated to students and parents. Furthermore, this policy is set forth in the charter school brochure, and it will be displayed on its website.

Form 990, Part I, Section E, Line 6

EXPLANATION OF AID OR ASSISTANCE FROM GOVERNMENTAL AGENCY The 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 additon the charter school receives Federal assistance by way of grants from NCLB/Title I an I.D.E.A. programs. Othr financial assistance from governmental programs is also available via application.

Form 990, Part I, Section 1, Line 1

Organization Mission or Significant Activities 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 students interest at early ages in STEM careers. The vision of Middlesex County Stem Charter School is to prepart students for the 21st century, which demands a more compresensive skill set to be prssessed by each member of our society. Due to constant technological breakthroughs, our students will enter a global market where they will compete wit people from all over the world for high-tech jobs that require critical thinking and problem solving skills. Sparking students interest 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 program with rigor and relevance. Middlesex County Stem Charter Schools STEM oriented instructional model promotes collaborative , cross-curricular learning, which stimulates meaningful connections to real life problems, and encompasses hands-on, problem based, and inquiry based teaching and learning with increased use of technology. Having been exposed to this approach through the middle school, Middlesex County STEM Charter School graduates will be motivated to pursue STEM education in high school and beyond.

Form 990, Part XI, Line 8

AICPA FASB 87 Net Pension Adjustment to Fund Balance

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/TotalRevenuePerForm990Amt05584852
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt05584852
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt04956021
IRS990/ScheduleJRequiredInd0false
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Racially Nondiscrimination Policy Practiced MIddlesex County Stems Charter School maintains a racially nondiscriminatory policy towards all students, in that the charter school coes ot 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 an dis communicated to students and parents. Furthermore, this policy is set forth in the charter school brochure, and it will be displayed on its website.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EXPLANATION OF AID OR ASSISTANCE FROM GOVERNMENTAL AGENCY The 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 additon the charter school receives Federal assistance by way of grants from NCLB/Title I an I.D.E.A. programs. Othr financial assistance from governmental programs is also available via application.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Organization Mission or Significant Activities 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 students interest at early ages in STEM careers. The vision of Middlesex County Stem Charter School is to prepart students for the 21st century, which demands a more compresensive skill set to be prssessed by each member of our society. Due to constant technological breakthroughs, our students will enter a global market where they will compete wit people from all over the world for high-tech jobs that require critical thinking and problem solving skills. Sparking students interest 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 program with rigor and relevance. Middlesex County Stem Charter Schools STEM oriented instructional model promotes collaborative , cross-curricular learning, which stimulates meaningful connections to real life problems, and encompasses hands-on, problem based, and inquiry based teaching and learning with increased use of technology. Having been exposed to this approach through the middle school, Middlesex County STEM Charter School graduates will be motivated to pursue STEM education in high school and beyond.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The board reviews the form 990 before filing
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4All compensation of all employees is reviewed and evaluated by the Board of Trustees of the Middlesex County Stem Charter School.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5All of the minutes of the meetings and Annual Audit and financial reports etc are available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6The Charter School follows the Federal and State of NJ regulations and standards governing the record retention and destruction.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7The school maintains an extensive written Whistleblower Policy
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8AICPA FASB 87 Net Pension Adjustment to Fund Balance
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part I, Section E, Line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part I, Section E, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part I, Section 1, Line 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 15A and B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part VI, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Form 990, Part XI, Line 8
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03938072
IRS990/TotalFunctionalExpensesGrp/TotalAmt04956021
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IRS990/TotalLiabilitiesEOYAmt0170160
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt05584852
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02241479
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02080922
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IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0208486
IRS990/USAddress/AddressLine1Txt0613 Carlock Ave
IRS990/USAddress/CityNm0Perth Amboy
IRS990/USAddress/StateAbbreviationCd0NJ
IRS990/USAddress/ZIPCd008861
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Namik Sercan
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Chief Education Officer
ReturnHeader/BusinessOfficerGrp/PhoneNum08482421818
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-05-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MIDDLESEX COUNTY STEM CHARTER SCHOOL
ReturnHeader/Filer/BusinessNameControlTxt0MIDD
ReturnHeader/Filer/EIN0824816745
ReturnHeader/Filer/InCareOfNm0% Namik Sercan
ReturnHeader/Filer/PhoneNum08482421818
ReturnHeader/Filer/USAddress/AddressLine1Txt0613 CARLOCK AVENUE
ReturnHeader/Filer/USAddress/CityNm0PERTH AMBOY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NJ
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0223200416
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SCOTT J LOEFFLER CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0186 COLUMBIA TPKE 5145
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0FLORHAM PARK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd007932
ReturnHeader/PreparerPersonGrp/PhoneNum09735854989
ReturnHeader/PreparerPersonGrp/PreparationDt02023-05-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SCOTT J LOEFFLER CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02023-05-15T05:22:58-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Namik
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Sercan
ReturnHeader/TaxPeriodBeginDt02021-07-01
ReturnHeader/TaxPeriodEndDt02022-06-30
ReturnHeader/TaxYr02021

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