Civic Intelligence

Friends of Young Scholars

EIN 86-3568192 • 501(c)3 • Philadelphia, PA

Profile

The mission of friends of young scholars is to provide support to young scholars charter school.

900 North Marshall StreetPhiladelphia, PA 19123-1307

www.phillyscholars.org

Siviq Scores

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

Liabilities / Assets

91st percentile

0.91x

Higher debt load relative to assets than 91% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

98th percentile

13.23x

Higher debt load relative to revenue than 98% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

21st percentile

-9.1%

Higher net margin than 21% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

23rd percentile

$0

Higher top officer pay than 23% of similar nonprofits.

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

501(c)3 • $5M-$10M nonprofits • Source year 2024

Asset Growth

29th percentile

-1.8%

Faster asset growth than 29% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

75th percentile

29%

Faster revenue growth than 75% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Assets

Down

$5,371,540

Down $100,169 (-1.8%) from 2023

Liabilities

Down

$4,861,680

Down $66,737 (-1.4%) from 2023

Net Assets

Down

$509,860

Down $33,432 (-6.2%) from 2023

Revenue

Up

$367,546

Up $82,168 (+29%) from 2023

Expenses

Down

$400,978

Down $6,244 (-1.5%) from 2023

Net Income

Up

-$33,432

Up $88,412 (+73%) from 2023

Trend Graphs

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2021: $5,676,101Liabilities 2021: $4,916,806Net Assets 2021: $759,2952021Assets 2022: $5,579,344Liabilities 2022: $4,914,208Net Assets 2022: $665,1362022Assets 2023: $5,471,709Liabilities 2023: $4,928,417Net Assets 2023: $543,2922023Assets 2024: $5,371,540Liabilities 2024: $4,861,680Net Assets 2024: $509,8602024

Highlighted filing

2024

Assets$5,371,540
Liabilities$4,861,680
Net Assets$509,860

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2021: $789,690Expenses 2021: $30,395Net Income 2021: $759,2952021Revenue 2022: $157,229Expenses 2022: $251,388Net Income 2022: -$94,1592022Revenue 2023: $285,378Expenses 2023: $407,222Net Income 2023: -$121,8442023Revenue 2024: $367,546Expenses 2024: $400,978Net Income 2024: -$33,4322024

Highlighted filing

2024

Revenue$367,546
Expenses$400,978
Net Income-$33,432

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Feb 4, 2025
Return Version
2023v6.0
Gross Receipts
$367,546
Mission and Program Overview

Mission

The mission of friends of young scholars is to provide support to young scholars charter school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,425,256$5,308,357▼ $116,899
Cash and Non-Interest-Bearing Accounts$46,453$63,183▲ $16,730
Total Assets$5,471,709$5,371,540▼ $100,169
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,900,000$4,839,081▼ $60,919
Other Liabilities$28,417$22,599▼ $5,818
Total Liabilities$4,928,417$4,861,680▼ $66,737
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$543,292$509,860▼ $33,432
Total Net Assets Fund Balance$543,292$509,860▼ $33,432
Total Liabilities and Net Assets / Fund Balance$5,471,709$5,371,540▼ $100,169

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$4,208,357$350,697$4,559,054
Land$1,100,000-$1,100,000
Compensation and Service Providers

Board Members and Trustees

NameTitle
Charles FreyerPresident
Samantha BanksSecretary
Paul BuccoTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$7
Other Revenue
$367,539
Change in Net Assets
$-33,432
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$400,978
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-$283,694-$283,694
Depreciation Depletion-$116,899-$116,899
Other Expenses-$385-$385
Total Functional Expenses$0$400,978$0$400,978
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
Accrued Interest$22,599
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

Friends of young scholars delegated certain management responsibilities to real estate management advisors and charter choices.

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

The 990 is prepared by an outside independent cpa firm based on the data that is part of the young scholars charter schools annual, independent audit. The 990 is reviewed by the board president prior to submission.

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

Any potential conflicts of interest is brought before the board to review its impact on the organization. If the impact is deemed to be significant, an appropriate action to remove the conflict will be determined.

Form 990, Part VI, Section C, Line 19

The board makes its governing documents, conflict of interest policy, and financial statements available upon request.

Filing and Contact Details

Filer

Filer Name
Friends of Young Scholars
EIN
86-3568192
Phone
2152329727
Address
900 NORTH MARSHALL STREET, PHILADELPHIA, PA 19123-1307

Signing Officer

Name
Charles Freyer
Title
Board President
Phone
2152329727
Signed
2025-02-04

Organization Details

Principal Officer
Charles Freyer
Formed
2021
Legal Domicile
Pa
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Barbacane Thornton & Company Llp
Address
503 CARR ROAD SUITE 100, WILMINGTON, DE 19809
Preparer
Steven N Kutsuflakis CPA
Phone
3024788940
Supplemental Narrative

Financial Statement Notes

Part IV Line 11F

The organization is exempt from federal income taxes under section 501(c)(3) of the internal revenue code and, therefore, has no provision for federal income taxes. The organization has been classified as an organization that is not a private foundation under sections 509(a)(1) and 170(b)(1)(a)(iv) of the internal revenue code. The school did not engage in any unrelated business activities during the fiscal year. Management believes more likely than not that its tax-exempt status and tax positions will be sustained if examined by authorities.

Raw XML Appendix342 raw XML fields

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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IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0MICHAEL WHISMAN CPA
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IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0222 NORTH KESWICK AVE
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IRS990/Form990ProvidedToGvrnBodyInd01
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IRS990/FSAuditedInd01
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IRS990/GoverningBodyVotingMembersCnt03
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt0367546
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
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IRS990/IndependentVotingMemberCnt03
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InterestGrp/ManagementAndGeneralAmt0283694
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IRS990/InvestmentIncomeGrp/ExclusionAmt07
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IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt00
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IRS990/LandBldgEquipAccumDeprecAmt0350697
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IRS990/LoanOutstandingInd00
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IRS990/NetAssetsOrFundBalancesEOYAmt0509860
IRS990/NetUnrelatedBusTxblIncmAmt00
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IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
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IRS990/OperateHospitalInd00
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IRS990/OtherExpensesGrp/Desc0ADMIN & FINANCIAL SUPPO
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0385
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IRS990/PartialLiquidationInd00
IRS990/PoliticalCampaignActyInd00
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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, THEREFORE, HAS NO PROVISION FOR FEDERAL INCOME TAXES. THE ORGANIZATION HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION UNDER SECTIONS 509(A)(1) AND 170(B)(1)(A)(IV) OF THE INTERNAL REVENUE CODE. THE SCHOOL DID NOT ENGAGE IN ANY UNRELATED BUSINESS ACTIVITIES DURING THE FISCAL YEAR. MANAGEMENT BELIEVES MORE LIKELY THAN NOT THAT ITS TAX-EXEMPT STATUS AND TAX POSITIONS WILL BE SUSTAINED IF EXAMINED BY AUTHORITIES.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FRIENDS OF YOUNG SCHOLARS DELEGATED CERTAIN MANAGEMENT RESPONSIBILITIES TO REAL ESTATE MANAGEMENT ADVISORS AND CHARTER CHOICES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 990 IS PREPARED BY AN OUTSIDE INDEPENDENT CPA FIRM BASED ON THE DATA THAT IS PART OF THE YOUNG SCHOLARS CHARTER SCHOOLS ANNUAL, INDEPENDENT AUDIT. THE 990 IS REVIEWED BY THE BOARD PRESIDENT PRIOR TO SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ANY POTENTIAL CONFLICTS OF INTEREST IS BROUGHT BEFORE THE BOARD TO REVIEW ITS IMPACT ON THE ORGANIZATION. IF THE IMPACT IS DEEMED TO BE SIGNIFICANT, AN APPROPRIATE ACTION TO REMOVE THE CONFLICT WILL BE DETERMINED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST.
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 B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
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IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesGrp/BOYAmt04928417
IRS990/TotalLiabilitiesGrp/EOYAmt04861680
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0543292
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0509860
IRS990/TotalOtherCompensationAmt00
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt07
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0367539
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0367546
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt05471709
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt05371540
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0900 NORTH MARSHALL STREET
IRS990/USAddress/CityNm0PHILADELPHIA
IRS990/USAddress/StateAbbreviationCd0PA
IRS990/USAddress/ZIPCd0191231307
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0WWW.PHILLYSCHOLARS.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/PersonNm0CHARLES FREYER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02152329727
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-02-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FRIENDS OF YOUNG SCHOLARS
ReturnHeader/Filer/BusinessNameControlTxt0FRIE
ReturnHeader/Filer/EIN0863568192
ReturnHeader/Filer/PhoneNum02152329727
ReturnHeader/Filer/USAddress/AddressLine1Txt0900 NORTH MARSHALL STREET
ReturnHeader/Filer/USAddress/CityNm0PHILADELPHIA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0PA
ReturnHeader/Filer/USAddress/ZIPCd0191231307
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0510229493
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BARBACANE THORNTON & COMPANY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0503 CARR ROAD SUITE 100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WILMINGTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0DE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd019809
ReturnHeader/PreparerPersonGrp/PhoneNum03024788940
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEVEN N KUTSUFLAKIS CPA
ReturnHeader/ReturnTs02025-02-04T13:00:57-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

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