Riverhead Charter School
- Assets
- $36.0m
- Revenue
- $14.4m
- Investments
- $0.0
- Employees
- 108
- Location
- Calverton, NY
- Founding
- 06/2002
- Data as of
- 06/2022
- EIN
- 11-3533719
Organization Overview
Riverhead Charter School is located in Calverton, NY. The organization was established in 2002. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2022, Riverhead Charter School employed 108 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Riverhead Charter School 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 06/2022, Riverhead Charter School generated $14.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.0% each year. All expenses for the organization totaled $13.4m during the year ending 06/2022. While expenses have increased by 10.2% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO OFFER STUDENTS A TRUE CHOICE IN PUBLIC EDUCATION AND PROMOTE THE LOVE OF LEARNING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SCHOOL'S MAIN OBJECTIVE IS TO OFFER STUDENTS A TRUE CHOICE IN PUBLIC EDUCATION, WHICH PROMOTES LOVE OF LEARNING AND LOCAL EXPLORATION. THE SCHOOL'S GOAL IS TO PROVIDE A RIGOROUS COMMUNITY OF LEARNING, WHICH IS INVITING AND STIMULATING TO STUDENTS AND PARENTS, AS WELL AS STAFF. THE SCHOOL INTENDS TO REVERSE THE CURRENT SPIRAL OF STUDENT FAILURE AND MEET OR EXCEED STATE AND FEDERAL STANDARDS, TO NURTURE THE INDIVIDUAL GIFTS OF EVERY STUDENT, AND TO PREPARE THEM FOR A REWARDING COMMUNITY LIFE. REVENUE IS GENERATED FROM TUITION FEES FROM MORE THAN A DOZEN SCHOOL DISTRICTS FOR STUDENTS WHO ENROLL AT RIVERHEAD CHARTER SCHOOL. IN FISCAL YEAR 2021 APPROXIMATLEY 756 STUDENTS ATTENDED RIVERHEAD CHARTER SCHOOL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Aimee Lomonaco President | OfficerTrustee | 1 | $0 |
Harry Histand Treasurer | OfficerTrustee | 1 | $0 |
Zenobia Hartfield Trustee | Trustee | 1 | $0 |
Natasha Jeffries Secretary | OfficerTrustee | 1 | $0 |
David Edwards Vice President | OfficerTrustee | 1 | $0 |
Maria Cintron Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $455,674 |
| Investment income | $8,516 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,385,795 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $751,871 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,982,685 |
| Pension plan accruals and contributions | $576,069 |
| Other employee benefits | $1,137,723 |
| Payroll taxes | $629,484 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $404,054 |
| Advertising and promotion | $9,445 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $380,271 |
| Travel | $8,138 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,690 |
| Interest | $1,180,214 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $616,126 |
| Insurance | $101,898 |
| All other expenses | $0 |
| Total functional expenses | $13,420,836 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,880,488 |
| Savings and temporary cash investments | $7,166,562 |
| Pledges and grants receivable | $354,368 |
| Accounts receivable, net | $2,106,068 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $121,113 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $259,900 |
| Total assets | $35,983,666 |
| Accounts payable and accrued expenses | $1,560,702 |
| Grants payable | $64,747 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $18,630,855 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $559,565 |
| Total liabilities | $20,815,869 |
| Net assets without donor restrictions | $14,991,888 |
| Net assets with donor restrictions | $175,909 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $15,167,797 |