Civic Intelligence

Advanced Schools

990 • Fiscal year 2023 • EIN 88-1885287

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 14, 2024

Organization ProfileN/A
2401 Sun Valley WayFlorham Park, NJ 07932

(908) 666-2087

Siviq Scores

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

Liabilities / Assets

97th percentile

1.52x

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

2023 filings • NTEE B • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

83rd percentile

0.22x

Higher debt load relative to revenue than 83% of similar nonprofits.

2023 filings • NTEE B • $500k-$1M nonprofits • Source year 2023

Net Margin

60th percentile

11%

Higher net margin than 60% of similar nonprofits.

2023 filings • NTEE B • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

56th percentile

$0

Higher top officer pay than 56% of similar nonprofits.

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

2023 filings • NTEE B • $500k-$1M nonprofits • Source year 2023

Asset Growth

Score unavailable

No value available

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

Source year 2023

Revenue Growth

Score unavailable

No value available

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

Source year 2023

Balance Sheet
Liabilities / Assets97th percentile

Assets

$134,294

No earlier filing loaded for comparison.

Net Assets

-$70,421

No earlier filing loaded for comparison.

Liabilities

$204,715

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue83rd percentileNet Margin60th percentile

Revenue

$930,839

No earlier filing loaded for comparison.

Expenses

$831,881

No earlier filing loaded for comparison.

Net Income

$98,958

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$300K$200K$100K$0-$100KAssets 2023: $134,294Liabilities 2023: $204,715Net Assets 2023: -$70,4212023Assets 2024: $102,013Liabilities 2024: $114,430Net Assets 2024: -$12,4172024

Highlighted filing

2023

Assets$134,294
Liabilities$204,715
Net Assets-$70,421
Open 2023 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.0M$500K$0Revenue 2023: $930,839Expenses 2023: $831,881Net Income 2023: $98,9582023Revenue 2024: $975,393Expenses 2024: $917,388Net Income 2024: $58,0052024

Highlighted filing

2023

Revenue$930,839
Expenses$831,881
Net Income$98,958
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 14, 2024
Return Version
2023v5.1
Gross Receipts
$930,839
Mission and Program Overview

Mission

Advanced schools, inc. Will be specifically geared towards supporting middlesex county stem charter school and other underserved charter schools, supplying an outsourced administration team with specialized knowledge and skills to implement curriculum and strategies aligned with each charter school client's mission and to operate the schools to substantially improve student academic outcomes. Any proceeds generated by advanced schools, inc. Will be redistributed in a variety of ways, including without limitation, awarding individual scholarships, sponsoring extracurricular activities and funding of student-run clubs and field trips. It is estimated that the remaining 20 percent of advanced schools, lnc.'s time will be devoted to these auxiliary activities. In the aforementioned ways, advanced schools, inc. Will fulfill its mission of improving educational outcomes of the students of new jersey.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$35,335$134,294▲ $98,959
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$-70,421▼ $70,421
Total Assets$35,335$134,294▲ $98,959
Liabilities
Other Liabilities$0$204,715▲ $204,715
Total Liabilities$0$204,715▲ $204,715
Net Assets / Fund Balance
Total Net Assets Fund Balance$35,335$-70,421▼ $105,756
Total Liabilities and Net Assets / Fund Balance$35,335$134,294▲ $98,959
Compensation and Service Providers
Top Officer Pay56th percentile

Board Members and Trustees

NameTitle
Turgay KaragozChairman of the Board
Serdar CharyyevSecretary
Nancy RoacheTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$655,839
Investment Income
$0
Other Revenue
$275,000
Change in Net Assets
$98,958
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$831,881
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
Information Technology$188,000--$188,000
Other Expenses$70,285--$70,285
Interest$15,376--$15,376
Office Expenses$4,512--$4,512
Total Functional Expenses$831,881$0$0$831,881
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
Long Term Business Loan Principal Balance$204,715
Governance and Compliance

Governance Checklist

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

Governance Explanations

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

“Form 990, part vi, section b, line 11b: president and treasurer of organization meet with tax preparer to review form 990”

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

“The organization monitors and enforces compliance with the conflict of interest policy by an annual inquiry of officers”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Advanced Schools Inc
EIN
88-1885287
Phone
9086662087
Address
2401 SUN VALLEY WAY, FLORHAM PARK, NJ 07932

Signing Officer

Name
Turgay Karagoz
Title
President
Phone
9086662087
Signed
2024-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Turgay Karagoz
Formed
2023
Legal Domicile
Nj
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Porzio Bromberg & Newman Pc
Address
100 SOUTHGATE PARKWAY PO BOX 1997, MORRISTOWN, NJ 07962-1997
Preparer
I Richard Ploss
Phone
9738894087
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2

“2023 is the initial program year of the organization.”

FORM 990, PART XI, LINE 9:

“ROUNDING ADJUSTMENT 1.”

Raw XML Appendix277 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.

Path#Value
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IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0ADVANCED SCHOOLS, INC. WILL BE SPECIFICALLY GEARED TOWARDS SUPPORTING MIDDLESEX COUNTY STEM CHARTER SCHOOL AND OTHER UNDERSERVED CHARTER SCHOOLS, SUPPLYING AN OUTSOURCED ADMINISTRATION TEAM WITH SPECIALIZED KNOWLEDGE AND SKILLS TO IMPLEMENT CURRICULUM AND STRATEGIES ALIGNED WITH EACH CHARTER SCHOOL CLIENT'S MISSION AND TO OPERATE THE SCHOOLS TO SUBSTANTIALLY IMPROVE STUDENT ACADEMIC OUTCOMES. ANY PROCEEDS GENERATED BY ADVANCED SCHOOLS, INC. WILL BE REDISTRIBUTED IN A VARIETY OF WAYS, INCLUDING WITHOUT LIMITATION, AWARDING INDIVIDUAL SCHOLARSHIPS, SPONSORING EXTRACURRICULAR ACTIVITIES AND FUNDING OF STUDENT-RUN CLUBS AND FIELD TRIPS. IT IS ESTIMATED THAT THE REMAINING 20 PERCENT OF ADVANCED SCHOOLS, LNC.'S TIME WILL BE DEVOTED TO THESE AUXILIARY ACTIVITIES. IN THE AFOREMENTIONED WAYS, ADVANCED SCHOOLS, INC. WILL FULFILL ITS MISSION OF IMPROVING EDUCATIONAL OUTCOMES OF THE STUDENTS OF NEW JERSEY.
IRS990/AnnualDisclosureCoveredPrsnInd01
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IRS990/BooksInCareOfDetail/PhoneNum09086662087
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt018 CANDOUR COURT
IRS990/BooksInCareOfDetail/USAddress/CityNm0HACKETTSTOWN
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
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IRS990/GrantsToOrganizationsInd00
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IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt03
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
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IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0NJ
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
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IRS990/MissionDesc0ADVANCED SCHOOLS, INC. WILL BE SPECIFICALLY GEARED TOWARDS SUPPORTING MIDDLESEX COUNTY STEM CHARTER SCHOOL AND OTHER UNDERSERVED CHARTER SCHOOLS, SUPPLYING AN OUTSOURCED ADMINISTRATION TEAM WITH SPECIALIZED KNOWLEDGE AND SKILLS TO IMPLEMENT CURRICULUM AND STRATEGIES ALIGNED WITH EACH CHARTER SCHOOL CLIENT'S MISSION AND TO OPERATE THE SCHOOLS TO SUBSTANTIALLY IMPROVE STUDENT ACADEMIC OUTCOMES. ANY PROCEEDS GENERATED BY ADVANCED SCHOOLS, INC. WILL BE REDISTRIBUTED IN A VARIETY OF WAYS, INCLUDING WITHOUT LIMITATION, AWARDING INDIVIDUAL SCHOLARSHIPS, SPONSORING EXTRACURRICULAR ACTIVITIES AND FUNDING OF STUDENT-RUN CLUBS AND FIELD TRIPS. IT IS ESTIMATED THAT THE REMAINING 20 PERCENT OF ADVANCED SCHOOLS, LNC.'S TIME WILL BE DEVOTED TO THESE AUXILIARY ACTIVITIES. IN THE AFOREMENTIONED WAYS, ADVANCED SCHOOLS, INC. WILL FULFILL ITS MISSION OF IMPROVING EDUCATIONAL OUTCOMES OF THE STUDENTS OF NEW JERSEY.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt02023 IS THE INITIAL PROGRAM YEAR OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990, PART VI, SECTION B, LINE 11B: PRESIDENT AND TREASURER OF ORGANIZATION MEET WITH TAX PREPARER TO REVIEW FORM 990
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY BY AN ANNUAL INQUIRY OF OFFICERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ROUNDING ADJUSTMENT 1.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 2
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9:
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ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0TURGAY KARAGOZ
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09086662087
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ADVANCED SCHOOLS INC
ReturnHeader/Filer/BusinessNameControlTxt0ADVA
ReturnHeader/Filer/EIN0881885287
ReturnHeader/Filer/PhoneNum09086662087
ReturnHeader/Filer/USAddress/AddressLine1Txt02401 SUN VALLEY WAY
ReturnHeader/Filer/USAddress/CityNm0FLORHAM PARK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NJ
ReturnHeader/Filer/USAddress/ZIPCd007932
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0222005150
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PORZIO BROMBERG & NEWMAN PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0100 SOUTHGATE PARKWAY PO BOX 1997
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MORRISTOWN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0079621997
ReturnHeader/PreparerPersonGrp/PhoneNum09738894087
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0I RICHARD PLOSS
ReturnHeader/ReturnTs02024-11-14T13:56:12-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$134,294
Liabilities
$204,715
Net assets
-$70,421
Revenue
$930,839
Expenses
$831,881
Net income
$98,958
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.02$1.14$0.12$9.75$9.17$0.58
2023Detailed filing. Detailed filing data is available for this year.$1.34$2.05$0.70$9.31$8.32$0.99