Brighter Choice Elementary Charter Schools
- Assets
- $22.2m
- Revenue
- $13.2m
- Investments
- $0.0
- Employees
- 126
- Location
- Albany, NY
- Founding
- 05/2001
- Data as of
- 06/2024
- EIN
- 14-1830896
Organization Overview
Brighter Choice Elementary Charter Schools is located in Albany, NY. The organization was established in 2001. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2024, Brighter Choice Elementary Charter Schools employed 126 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Brighter Choice Elementary Charter Schools 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 06/2024, Brighter Choice Elementary Charter Schools generated $13.2m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 12.7% each year . All expenses for the organization totaled $10.6m during the year ending 06/2024. While expenses have increased by 11.5% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE QUALITY EDUCATIONAL ALTERNATIVE FOR AT-RISK ELEMENTARY STUDENTS IN ALBANY, NY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REGULAR AND SPECIAL EDUCATION
OTHER PROGRAM (NURSE, FOOD SERVICES AND TRANSPORTATION)-ALL STUDENTS QUALIFY TO PARTICIPATE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Martha Snyder Chair | OfficerTrustee | 2 | $0 |
Trudy Hamner Vice Chair | OfficerTrustee | 1 | $0 |
Zoe Nelson Secretary | OfficerTrustee | 1 | $0 |
Nilsa Velilla Trustee | Trustee | 1 | $0 |
Noah Clement Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
A'viands Food Service | 6/29/24 | $731,566 |
Acts Cleaning Service Janitorial | 6/29/24 | $249,159 |
Durham School Services Bus Transportat | 6/29/24 | $473,231 |
Vulcan Property Services Inc Property Maint | 6/29/24 | $162,330 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,234,580 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,286 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,240,866 |
| Total Program Service Revenue | $9,525,146 |
| Investment income | $455,717 |
| 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 | $13,223,361 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,052,243 |
| Pension plan accruals and contributions | $221,014 |
| Other employee benefits | $689,289 |
| Payroll taxes | $401,135 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $172,141 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $257,922 |
| Advertising and promotion | $100,538 |
| Office expenses | $129,293 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $753,305 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $330,633 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $599,125 |
| Insurance | $112,290 |
| All other expenses | $52,973 |
| Total functional expenses | $10,588,542 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $105,090 |
| Savings and temporary cash investments | $9,270,331 |
| Pledges and grants receivable | $1,361,358 |
| Accounts receivable, net | $108,801 |
| 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 | $49,483 |
| Net Land, buildings, and equipment | $9,364,952 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $376,474 |
| Other assets | $1,547,084 |
| Total assets | $22,183,573 |
| Accounts payable and accrued expenses | $1,170,137 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $10,870,000 |
| 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 | $976,834 |
| Total liabilities | $13,016,971 |
| Net assets without donor restrictions | $9,166,602 |
| Net assets with donor restrictions | $0 |
| 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 | $22,183,573 |