Civic Intelligence

Elevate Charter Schools Inc.

990 • Fiscal year 2024 • EIN 87-4783048

Jul 01, 2023 to Jun 30, 2024 • Filed on Jan 15, 2025

2666 State Street Suite B2Hamden, CT 06517

(203) 843-4890

Siviq Scores

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

Liabilities / Assets

75th percentile

0.30x

Higher debt load relative to assets than 75% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

78th percentile

0.39x

Higher debt load relative to revenue than 78% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

80th percentile

29%

Higher net margin than 80% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

92nd percentile

$241,463

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 6.3% of source-year revenue.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

95th percentile

103%

Faster asset growth than 95% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

89th percentile

88%

Faster revenue growth than 89% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$4,949,851

Up $2,510,065 (+103%) from 2023

Net Assets

Up

$3,463,646

Up $1,091,425 (+46%) from 2023

Liabilities

Up

$1,486,205

Up $1,418,640 (+2100%) from 2023

Revenue

Up

$3,811,784

Up $1,786,784 (+88%) from 2023

Expenses

Up

$2,720,359

Up $952,560 (+54%) from 2023

Net Income

Up

$1,091,425

Up $834,224 (+324%) from 2023

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2022: $2,150,607Liabilities 2022: $35,587Net Assets 2022: $2,115,0202022Assets 2023: $2,439,786Liabilities 2023: $67,565Net Assets 2023: $2,372,2212023Assets 2024: $4,949,851Liabilities 2024: $1,486,205Net Assets 2024: $3,463,6462024Assets 2025: $5,574,120Liabilities 2025: $1,571,000Net Assets 2025: $4,003,1202025

Highlighted filing

2024

Assets$4,949,851
Liabilities$1,486,205
Net Assets$3,463,646

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0Revenue 2022: $2,360,005Expenses 2022: $244,985Net Income 2022: $2,115,0202022Revenue 2023: $2,025,000Expenses 2023: $1,767,799Net Income 2023: $257,2012023Revenue 2024: $3,811,784Expenses 2024: $2,720,359Net Income 2024: $1,091,4252024Revenue 2025: $3,603,411Expenses 2025: $3,063,937Net Income 2025: $539,4742025

Highlighted filing

2024

Revenue$3,811,784
Expenses$2,720,359
Net Income$1,091,425
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Jan 15, 2025
Return Version
2023v6.0
Gross Receipts
$3,811,784
Mission and Program Overview

Mission

The mission of elevate charter schools is to develop and operate high-performing charter schools, who relentlessly provide each child with a rigorous and personalized educational experience, enabling them to reach their full potential in an ever-changing, multicultural world.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$2,433,296$2,279,207▼ $154,089
Land, Buildings, and Equipment, Net$6,490$1,460,823▲ $1,454,333
Accounts Receivable-$343,759-
Total Assets$2,439,786$4,949,851▲ $2,510,065
Other Assets Total$0$866,062▲ $866,062
Liabilities
Other Liabilities$0$967,371▲ $967,371
Accounts Payable and Accrued Expenses$67,565$518,834▲ $451,269
Total Liabilities$67,565$1,486,205▲ $1,418,640
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,372,221$3,463,646▲ $1,091,425
Total Net Assets Fund Balance$2,372,221$3,463,646▲ $1,091,425
Total Liabilities and Net Assets / Fund Balance$2,439,786$4,949,851▲ $2,510,065

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,455,222-$1,455,222
Equipment$5,601$5,531$11,132
Other Assets Org$816,062--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
John TaylorChief Executive OfficerFT$218,726$22,737$241,463
Emily JacksonChief Operating OfficerFT$165,000$12,367$177,367
Marisol RiveraDirector of FinancePT$70,620-$70,620

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$3,468,025
Program Service Revenue
$343,759
Investment Income
$0
Other Revenue
$0
All Other Contributions
$3,468,025
Change in Net Assets
$1,091,425
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,509,240
Other Expenses$761,119
Grants and Similar Amounts Paid$450,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$652,155$163,039-$815,194
Current Officers, Directors, Trustees, and Key Employees$363,549$90,887-$454,436
Grants to Domestic Orgs$450,000--$450,000
Occupancy$250,193$62,548-$312,741
Fees for Services Other$195,153$108,242-$303,395
Payroll Taxes$191,688$47,922-$239,610
Insurance-$33,734-$33,734
Fees for Services Accounting$19,000--$19,000
Travel-$18,320-$18,320
Office Expenses$9,475$7,321-$16,796
Advertising-$15,504-$15,504
Depreciation Depletion-$2,695-$2,695
Other Expenses$8,836$78-$78
Total Functional Expenses$2,155,737$564,622$0$2,720,359
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
Lease Liability, Net of Current Portion$690,368
Current Portion of Lease Liabilities$277,003
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
No

Governance Explanations

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

A copy of the 990 is provided to the board for their review. All board members can direct questions to the executive director and chief financial officer, who will discuss, where necessary with the outside auditors in getting answers to the board. The return is subsequently filed.

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

Board members and key employees are required to sign a conflict of interest statement. Any conflicts are brought to the attention of the president so that they are appropriately addressed.

Form 990, Part VI, Section B, Line 15

Compensation is reviewed and approved by board members.

Form 990, Part VI, Section C, Line 19

Governing documents are available on the organization's website and upon request. In addition, the annual 990 is posted on guidestar.org.

Filing and Contact Details

Filer

Filer Name
Elevate Charter Schools Inc
EIN
87-4783048
Phone
2038434890
Address
2666 STATE STREET SUITE B2, HAMDEN, CT 06517

Signing Officer

Name
John Taylor
Title
CEO
Phone
2038434890
Signed
2025-01-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Taylor
Formed
2022
Legal Domicile
Ct
Voting Board Members
5
Independent Board Members
4
Employees
13
Volunteers
0

Preparer

Firm
Cerini & Associates Llp
Address
3340 VETERANS MEMORIAL HWY, BOHEMIA, NY 11716
Preparer
Ken Cerini
Phone
6315821600
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Professional fees: program service expenses 169,263. Management and general expenses 108,242. Fundraising expenses 0. Total expenses 277,505. Professional development: program service expenses 25,890. Management and general expenses 0. Fundraising expenses 0. Total expenses 25,890.

Financial Statement Notes

PART X, LINE 2:

Elevate has evaluated for uncertain tax positions and has determined that there were no uncertain tax positions for 2023.

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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt02360005
IRS990ScheduleA/Total509Grp/TotalAmt08196789
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt03811784
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt02025000
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt02360005
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt08196789
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt05601
IRS990ScheduleD/EquipmentGrp/DepreciationAmt05531
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt011132
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt050000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1816062
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0SECURITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1OPERATING LEASE ASSET
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01455222
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt01455222
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0277003
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1690368
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CURRENT PORTION OF LEASE LIABILITIES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1LEASE LIABILITY, NET OF CURRENT PORTION
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ELEVATE HAS EVALUATED FOR UNCERTAIN TAX POSITIONS AND HAS DETERMINED THAT THERE WERE NO UNCERTAIN TAX POSITIONS FOR 2023.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01460823
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0866062
IRS990ScheduleD/TotalLiabilityAmt0967371
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0218726
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1165000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt022737
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt112367
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JOHN TAYLOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1EMILY JACKSON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CHIEF EXECUTIVE OFFICER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1CHIEF OPERATING OFFICER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0241463
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt1177367
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt10
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF THE 990 IS PROVIDED TO THE BOARD FOR THEIR REVIEW. ALL BOARD MEMBERS CAN DIRECT QUESTIONS TO THE EXECUTIVE DIRECTOR AND CHIEF FINANCIAL OFFICER, WHO WILL DISCUSS, WHERE NECESSARY WITH THE OUTSIDE AUDITORS IN GETTING ANSWERS TO THE BOARD. THE RETURN IS SUBSEQUENTLY FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD MEMBERS AND KEY EMPLOYEES ARE REQUIRED TO SIGN A CONFLICT OF INTEREST STATEMENT. ANY CONFLICTS ARE BROUGHT TO THE ATTENTION OF THE PRESIDENT SO THAT THEY ARE APPROPRIATELY ADDRESSED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPENSATION IS REVIEWED AND APPROVED BY BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE AND UPON REQUEST. IN ADDITION, THE ANNUAL 990 IS POSTED ON GUIDESTAR.ORG.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 169,263. MANAGEMENT AND GENERAL EXPENSES 108,242. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 277,505. PROFESSIONAL DEVELOPMENT: PROGRAM SERVICE EXPENSES 25,890. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 25,890.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CT
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt02439786
IRS990/TotalAssetsEOYAmt04949851
IRS990/TotalAssetsGrp/BOYAmt02439786
IRS990/TotalAssetsGrp/EOYAmt04949851
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt03468025
IRS990/TotalEmployeeCnt013
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0564622
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02155737
IRS990/TotalFunctionalExpensesGrp/TotalAmt02720359
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt067565
IRS990/TotalLiabilitiesEOYAmt01486205
IRS990/TotalLiabilitiesGrp/BOYAmt067565
IRS990/TotalLiabilitiesGrp/EOYAmt01486205
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02372221
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03463646
IRS990/TotalOtherCompensationAmt035104
IRS990/TotalProgramServiceExpensesAmt02155737
IRS990/TotalProgramServiceRevenueAmt0343759
IRS990/TotalReportableCompFromOrgAmt0454346
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0343759
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03811784
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02439786

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