Little Red School House Inc
- Assets
- $50.6m
- Revenue
- $36.9m
- Investments
- $0.0
- Employees
- 278
- Location
- New York, NY
- Founding
- 12/1951
- Data as of
- 06/2022
- EIN
- 13-5562268
Organization Overview
Little Red School House Inc is located in New York, NY. The organization was established in 1951. 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, Little Red School House Inc employed 278 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Little Red School House 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 06/2022, Little Red School House Inc generated $36.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $38.0m during the year ending 06/2022. While expenses have increased by 2.6% per year over the past 7 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
A LEADER IN PROGRESSIVE EDUCATION SINCE 1921, LREI TEACHES CHILDREN TO BE INDEPENDENT THINKERS WHO WORK TOGETHER TO SOLVE COMPLEX PROBLEMS. SEE SCHEDULE O FOR FULL STATEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O FOR LREI PROGRAM DESCRIPTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Phil Kassen Director | Officer | 40 | $490,425 |
Josh Marks CFO | Officer | 40 | $280,630 |
Faith Hunter Principal | 40 | $185,707 | |
Mark Silberberg Director Of Innovation & Tech | Officer | 40 | $181,748 |
Allison Isbell High School Principal | 40 | $176,497 | |
Jennifer Weil Director Of Advancement | Officer | 40 | $175,802 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cater To You Food Service | 6/29/22 | $1,113,617 |
Albeiro Contracting Group Construction/repairs | 6/29/22 | $183,244 |
Debevoise Plimpton Llp Legal | 6/29/22 | $481,354 |
Apple Inc Co Apple Financial Serv | 6/29/22 | $137,788 |
St Anthony Of Padua Occupancy | 6/29/22 | $376,764 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $547,360 |
| Related organizations | $0 |
| Government grants | $644,980 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,989,840 |
| Noncash contributions included in lines 1a–1f | $1,162,919 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,182,180 |
| Total Program Service Revenue | $31,237,812 |
| Investment income | $371,558 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $152,638 |
| Net Gain/Loss on Asset Sales | -$28,639 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $36,915,940 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $7,414,216 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,216,404 |
| Compensation of current officers, directors, key employees. | $437,544 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $14,957,987 |
| Pension plan accruals and contributions | $776,226 |
| Other employee benefits | $2,049,084 |
| Payroll taxes | $1,417,862 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $494,698 |
| Fees for services: Accounting | $119,857 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $106,110 |
| Fees for services: Other | $293,809 |
| Advertising and promotion | $0 |
| Office expenses | $1,052,136 |
| Information technology | $548,464 |
| Royalties | $0 |
| Occupancy | $776,967 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $86,853 |
| Interest | $630,987 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,969,020 |
| Insurance | $318,642 |
| All other expenses | $1,273,282 |
| Total functional expenses | $37,965,509 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,000 |
| Savings and temporary cash investments | $3,477,203 |
| Pledges and grants receivable | $3,098,030 |
| Accounts receivable, net | $914,468 |
| 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 | $245,690 |
| Net Land, buildings, and equipment | $25,387,989 |
| Investments—publicly traded securities | $17,324,675 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $137,756 |
| Total assets | $50,588,811 |
| Accounts payable and accrued expenses | $2,203,553 |
| Grants payable | $0 |
| Deferred revenue | $9,886,383 |
| Tax-exempt bond liabilities | $11,974,165 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $53,000 |
| Total liabilities | $24,117,101 |
| Net assets without donor restrictions | $22,492,000 |
| Net assets with donor restrictions | $3,979,710 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $50,588,811 |
Grants Recieved
Over the last fiscal year, we have identified 31 grants that Little Red School House Inc has recieved totaling $588,039.
| Awarding Organization | Amount |
|---|---|
Jewish Communal Fund New York, NY PURPOSE: GENERAL SUPPORT | $201,766 |
Goldman Sachs Charitable Gift Fund New York, NY PURPOSE: EDUCATIONAL PROGRAMS & OTHER STUDENT SVC | $185,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $72,500 |
Goldman Sachs Charitable Gift Fund New York, NY PURPOSE: SCHOLARSHIPS & FINANCIAL AID | $65,000 |
Community Foundation Of New Jersey Morristown, NJ PURPOSE: GENERAL SUPPORT | $10,000 |
Rockefeller Family Fund Inc New York, NY PURPOSE: PROJECT SUPPORT - CHARITABLE | $10,000 |
Endowment Analysis
| Beg. Balance | $17,973,129 |
| Earnings | -$2,606,260 |
| Net Contributions | $1,320,277 |
| Ending Balance | $16,687,146 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ascend Charter Schools Brooklyn, NY | $45,182,055 | $130,071,368 |
Team Academy Charter School Inc Newark, NJ | $62,784,056 | $112,036,254 |
Agora Cyber Charter School King Of Prussia, PA | $29,812,274 | $123,843,368 |
Kipp Nyc Public Charter Schools Ii New York, NY | $29,013,020 | $109,312,231 |
The Academy Charter School Hempstead, NY | $181,369,373 | $54,353,660 |
Mastery Charter High School Philadelphia, PA | $43,740,057 | $52,618,647 |
Public Prep Charter School Academies Bronx, NY | $28,993,375 | $52,903,915 |
Achievement First Inc New Haven, CT | $52,811,061 | $64,422,955 |
Explore Excel Charter School Brooklyn, NY | $21,686,253 | $46,865,700 |
Brooklyn Prospect Charter School Brooklyn, NY | $14,747,543 | $42,286,541 |
Little Red School House Inc New York, NY | $50,588,811 | $36,915,940 |
Philadelphia Performing Arts A String Theory Charter School Philadelphia, PA | $27,708,411 | $43,176,770 |