Civic Intelligence

Ilearn Facility Development Inc.

EIN 88-0744649 • 501(c)3 • Fair Lawn, NJ

Pub. 78 EligibleNTEE B11

Profile

Ilearn facility development, inc. Is a non-profit organization organized exclusively for the benefit of, to perform the functions of, or to carry out the purpose of ilearn schools, inc.

33-00 BroadwayFair Lawn, NJ 07410

n/A

Siviq Scores

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

Liabilities / Assets

92nd percentile

0.95x

Higher debt load relative to assets than 92% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

97th percentile

11.07x

Higher debt load relative to revenue than 97% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Net Margin

92nd percentile

59%

Higher net margin than 92% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

66th percentile

11%

Faster asset growth than 66% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

98th percentile

261%

Faster revenue growth than 98% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Up

$36,341,753

Up $3,477,666 (+11%) from 2023

Liabilities

Up

$34,518,729

Up $1,642,868 (+5.0%) from 2023

Net Assets

Up

$1,823,024

Up $1,834,798 (+15583%) from 2023

Operations
Liabilities / Revenue97th percentileNet Margin92nd percentile

Revenue

Up

$3,117,517

Up $2,252,776 (+261%) from 2023

Expenses

Up

$1,282,719

Up $406,204 (+46%) from 2023

Net Income

Up

$1,834,798

Up $1,846,572 (+15683%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth66th percentile

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

$40M$30M$20M$10M$0-$10MAssets 2023: $32,864,087Liabilities 2023: $32,875,861Net Assets 2023: -$11,7742023Assets 2024: $36,341,753Liabilities 2024: $34,518,729Net Assets 2024: $1,823,0242024

Highlighted filing

2024

Assets$36,341,753
Liabilities$34,518,729
Net Assets$1,823,024
Open 2024 Filing

Operations Trend

Revenue Growth98th percentile

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2023: $864,741Expenses 2023: $876,515Net Income 2023: -$11,7742023Revenue 2024: $3,117,517Expenses 2024: $1,282,719Net Income 2024: $1,834,7982024

Highlighted filing

2024

Revenue$3,117,517
Expenses$1,282,719
Net Income$1,834,798
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$36,341,753
Liabilities
$34,518,729
Net assets
$1,823,024
Revenue
$3,117,517
Expenses
$1,282,719
Net income
$1,834,798
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$36.3$34.5$1.82$3.12$1.28$1.83
2023Detailed filing. Detailed filing data is available for this year.$32.9$32.9$0.01$0.86$0.88$0.01
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 14, 2025
Return Version
2023v6.0
Gross Receipts
$3,117,517
Mission and Program Overview

Mission

Ilearn facility development, inc. Is a non-profit organization organized exclusively for the benefit of, to perform the functions of, or to carry out the purpose of ilearn schools, inc.

Ilearn facility development, inc. Is a non-profit charter management organization (cmo) that provides specialized educational and management service including operational and administrative support for schools.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$30,110,787$31,934,727▲ $1,823,940
Cash and Non-Interest-Bearing Accounts$2,713,360$3,820,969▲ $1,107,609
Accounts Receivable$6,470$586,057▲ $579,587
Prepaid Expenses and Deferred Charges$33,470--
Total Assets$32,864,087$36,341,753▲ $3,477,666
Liabilities
Tax Exempt Bond Liabilities$32,332,334$32,379,504▲ $47,170
Other Liabilities$21,993$1,989,818▲ $1,967,825
Accounts Payable and Accrued Expenses$521,534$149,407▼ $372,127
Total Liabilities$32,875,861$34,518,729▲ $1,642,868
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-11,774$1,823,024▲ $1,834,798
Total Net Assets Fund Balance$-11,774$1,823,024▲ $1,834,798
Total Liabilities and Net Assets / Fund Balance$32,864,087$36,341,753▲ $3,477,666

Asset Categories

AssetBook ValueDepreciationBasis
Land$17,836,580-$17,836,580
Buildings$11,959,484$629,446$12,588,930
Other Land Buildings$2,138,663-$2,138,663
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Jose MartinezPresident
Ozgur DogruTrustee
Nihat GuvercinCEO
Mustafa CobanCFO
Aaron KulCOO
Perno YoungTreasurer
Glenny AdamesVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$152,113
Other Revenue
$2,965,404
Change in Net Assets
$1,834,798
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,282,719
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$880,012--$880,012
Depreciation Depletion$361,893--$361,893
Fees for Services Other$4,022$36,792-$40,814
Total Functional Expenses$1,245,927$36,792$0$1,282,719
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
Due to Affiliate$1,989,818

Bond Issues

BondIssuerIssuedIssue PricePurpose
APassaic County Improvement Authorit2023-03-14$33,470,000Purchase existing land and building

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$32,745,428--$480,734

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The draft form 990 is provided to the board members via e-mail for review, comment and approval before mailing.”

Form 990, Page 6, Part VI, Line 12C

“The organization requires all board members and key personnel to disclose all financial interest or relationships that constitute conflict or potential conflict of interest. Any voting member is excluded from voting on matters related to the conflict or potential conflict.”

Form 990, Page 6, Part VI, Line 15A

“Compensation of key and other employees are reviewed and approved by the board before employment contracts with new or continuing employees are executed. Salary of the chief executive officer is determined by the board based on comparable compensation offered in the area and neighboring organizations.”

Form 990, Page 6, Part VI, Line 15B

“Compensation of key and other employees are reviewed and approved by the board before employment contracts with new or continuing employees are executed. Salary of the chief executive officer is determined by the board based on comparable compensation offered in the area and neighboring organizations.”

Form 990, Page 6, Part VI, Line 19

“The organization's governing documents, conflict of interest policy and financial statements are available upon request at 33-00 broadway, suite 301, fair lawn, nj 07410 or by calling (201) 773-9140.”

Filing and Contact Details

Filer

Filer Name
Ilearn Facility Development Inc
EIN
88-0744649
Phone
2017739140
Address
33-00 BROADWAY, FAIR LAWN, NJ 07410

Signing Officer

Name
Mustafa Coban
Title
CFO
Phone
2017739140
Signed
2025-05-14

Organization Details

Principal Officer
Mustafa Coban
Legal Domicile
Nj
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
4

Preparer

Firm
Galleros Robinson
Address
115 DAVIS STATION RD, CREAM RIDGE, NJ 08514
Preparer
Leonora Galleros
Phone
6469210400
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“The organization recognizes the effect of income tax position only if those positions are more-likely-than-not be sustained upon examination by taxing authorities. Management has determined that the organization had no uncertain tax positions that would require financial statement recognition. The organization is no longer subject to audits by the applicable taxing jurisdictions for period prior to 2021. Currently, there are no audits in progress.”

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION RECOGNIZES THE EFFECT OF INCOME TAX POSITION ONLY IF THOSE POSITIONS ARE MORE-LIKELY-THAN-NOT BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. MANAGEMENT HAS DETERMINED THAT THE ORGANIZATION HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION. THE ORGANIZATION IS NO LONGER SUBJECT TO AUDITS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIOD PRIOR TO 2021. CURRENTLY, THERE ARE NO AUDITS IN PROGRESS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0COMPENSATION FROM RELATED ORGANIZATION (SCHEDULE J, PART II): THE COMPENSATION AMOUNTS REPORTED IN SCHEDULE J, PART II REPRESENT AMOUNTS PAID BY ILEARN SCHOOLS, INC., A RELATED ORGANIZATION. ILEARN FACILITY DEVELOPMENT, INC. DOES NOT HAVE EMPLOYEES OF ITS OWN. INSTEAD, IT SHARES PERSONNEL TIME WITH ILEARN SCHOOLS, INC., WHICH PAYS THE COMPENSATION.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE J, PART III
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IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt0PASSAIC COUNTY IMPROVEMENT AUTHORITY PURCHASE EXISTING LAND AND BUILDING
IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc0PURPOSE OF ISSUE DESCRIPTION
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE DRAFT FORM 990 IS PROVIDED TO THE BOARD MEMBERS VIA E-MAIL FOR REVIEW, COMMENT AND APPROVAL BEFORE MAILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION REQUIRES ALL BOARD MEMBERS AND KEY PERSONNEL TO DISCLOSE ALL FINANCIAL INTEREST OR RELATIONSHIPS THAT CONSTITUTE CONFLICT OR POTENTIAL CONFLICT OF INTEREST. ANY VOTING MEMBER IS EXCLUDED FROM VOTING ON MATTERS RELATED TO THE CONFLICT OR POTENTIAL CONFLICT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPENSATION OF KEY AND OTHER EMPLOYEES ARE REVIEWED AND APPROVED BY THE BOARD BEFORE EMPLOYMENT CONTRACTS WITH NEW OR CONTINUING EMPLOYEES ARE EXECUTED. SALARY OF THE CHIEF EXECUTIVE OFFICER IS DETERMINED BY THE BOARD BASED ON COMPARABLE COMPENSATION OFFERED IN THE AREA AND NEIGHBORING ORGANIZATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPENSATION OF KEY AND OTHER EMPLOYEES ARE REVIEWED AND APPROVED BY THE BOARD BEFORE EMPLOYMENT CONTRACTS WITH NEW OR CONTINUING EMPLOYEES ARE EXECUTED. SALARY OF THE CHIEF EXECUTIVE OFFICER IS DETERMINED BY THE BOARD BASED ON COMPARABLE COMPENSATION OFFERED IN THE AREA AND NEIGHBORING ORGANIZATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AT 33-00 BROADWAY, SUITE 301, FAIR LAWN, NJ 07410 OR BY CALLING (201) 773-9140.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0ILEARN SCHOOLS INC
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0SEE SUPPLE
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IRS990ScheduleR/SupplementalInformationDetail/ExplanationTxt0SCHEDULE R, PART II, LINE 1, COLUMN B - PRIMARY ACTIVITY: A NONPROFIT CHARTER MANAGEMENT ORGANIZATION (CMO) THAT PROVIDES SPECIALIZED EDUCATIONAL AND MANAGEMENT SERVICES, INCLUDING OPERATIONAL AND ADMINISTRATIVE SUPPORTS, FOR SCHOOLS.
IRS990ScheduleR/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE R
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IRS990/TotalVolunteersCnt04

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