Charter Fund Inc
- Assets
- $676.0m
- Revenue
- $190.0m
- Investments
- $452.6m
- Employees
- 0
- Location
- Denver, CO
- Founding
- 05/2005
- Data as of
- 12/2022
- EIN
- 05-0620063
Organization Overview
Charter Fund Inc is located in Denver, CO. The organization was established in 2005. According to its NTEE Classification (T21) the organization is classified as: Corporate Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Charter Fund Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Charter Fund Inc generated $190.0m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 16.6% each year . All expenses for the organization totaled $113.0m during the year ending 12/2022. While expenses have increased by 7.8% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Charter Fund Inc has awarded 2,430 individual grants totaling $592,876,987. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHARTER FUND, INC (THE "FUND OR "CHARTER SCHOOL GROWTH FUND") IDENTIFIES THE COUNTRY'S BEST NONPROFIT PUBLIC CHARTER SCHOOLS, FUNDS THEIR EXPANSION, AND HELPS TO INCREASE THEIR IMPACT. WE PROVIDE FUNDING AND SUPPORT TO A NATIONAL COMMUNITY OF SCHOOL LEADERS WHO SEEK TO GROW AND SERVE MORE STUDENTS IN UNDERSERVED COMMUNITIES WITH LIMITED ACCESS TO HIGH-QUALITY SCHOOLS. THE FUND ISSUED 108,373,375 IN GRANTS AND INCURRED ADDITIONAL CHARITABLE EXPENSES OF 38,646,813 DURING THE CALENDAR YEAR ENDED DECEMBER 31, 2022. IN ADDITION, THE FUND ISSUED 17,952,136 OF PROGRAM-RELATED INVESTMENT (PRI) LOANS TO CHARTER SCHOOL MANAGEMENT ORGANIZATIONS DURING THE CALENDAR YEAR ENDING DECEMBER 31, 2021. SEE PART IX-B AND XV FOR A DETAILED LISTING OF LOANS AND GRANTS DURING THE CURRENT YEAR.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Hall CEO | 40 | $615,000 | |
Julie Maier Partner/vice President | 40 | $318,000 | |
Rich Billings Partner/assistant Secretary | 40 | $316,500 | |
Pamela Inbasekaran COO | 40 | $309,500 | |
Darryl Cobb President | 40 | $432,250 | |
John Fisher Director, Board Chair | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mgt Kitamba Investor Llc | 12/30/23 | $808,150 |
Afton Partners | 12/30/23 | $784,377 |
Dgw Consulting Group | 12/30/23 | $608,093 |
Goldin Solutions | 12/30/23 | $495,000 |
Bellwether Education Partners Inc | 12/30/23 | $433,090 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $172,440,521 |
| Interest on Savings | $3,514 |
| Dividends & Interest | $12,937,757 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $407,308 |
| Capital Gain Net Income | $1,878,045 |
| Net ST Capital Gain | $0 |
| Income Modifications | $36,075,470 |
| Profit on Inventory Sales | $0 |
| Other Income | $4,249,904 |
| Total Revenue | $190,039,004 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,880,160 |
| Other employee salaries and wages | $9,501,149 |
| Pension plans, employee benefits | $2,163,903 |
| Interest | $2,899,993 |
| Taxes | $1,347 |
| Depreciation | $0 |
| Occupancy | $204,714 |
| Travel, conferences, and meetings | $943,249 |
| Printing and publications | $45,593 |
| Other expenses | $4,562,878 |
| Total operating and administrative expenses | $31,126,408 |
| Contributions, gifts, grants paid | $81,875,806 |
| Total expenses and disbursements | $113,002,214 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $93,364,526 |
| Savings and temporary cash investments | $58,051,263 |
| Net Accounts receivable | $88,537 |
| Net Pledges Receivable | $15,626,046 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $968,577 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $86,736,373 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $55,325,361 |
| Total assets | $676,007,354 |
| Accounts payable and accrued expenses | $1,707,503 |
| Grants payable | $5,568,000 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $44,656,372 |
| Other liabilities | $284,816 |
| Total liabilities | $52,216,691 |
Grants Awarded
Over the last fiscal year, Charter Fund Inc has awarded $101,489,079 in support to 420 organizations.
| Grant Recipient | Amount |
|---|---|
1UP COACHING PURPOSE: IMPACT AND INNOVATION | $75,000 |
50CAN INC PURPOSE: CHARTER SCHOOL CAPACITY-BUILDING | $97,552 |
50CAN INC PURPOSE: CHARTER SCHOOL CAPACITY-BUILDING | $97,552 |
50CAN INC PURPOSE: CHARTER SCHOOL CAPACITY-BUILDING | $850,000 |
ACHIEVEMENT FIRST INC PURPOSE: CHARTER SCHOOL CAPACITY-BUILDING | $110,000 |
ACHIEVEMENT FIRST INC PURPOSE: IMPACT AND INNOVATION | $1,000 |