Freedom Prep Charter School
- Assets
- $11.3m
- Revenue
- $19.9m
- Investments
- $0.0
- Employees
- 131
- Location
- Florham Park, NJ
- Founding
- 07/2008
- Data as of
- 06/2023
- EIN
- 20-0683866
Organization Overview
Freedom Prep Charter School, operating under the name Co Scott J Loeffler Cpa - Dissolution Trustee, is located in Florham Park, NJ. The organization was established in 2008. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2023, Co Scott J Loeffler Cpa - Dissolution Trustee employed 131 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Co Scott J Loeffler Cpa - Dissolution Trustee 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 06/2023, Co Scott J Loeffler Cpa - Dissolution Trustee generated $19.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $20.4m during the year ending 06/2023. While expenses have increased by 4.9% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO EDUCATE RESPONSIBLE CITIZENSCHOLARS FOR SUCCESS IN THE COLLEGE OF THEIR CHOICE AND A LIFE OF ACTIVE CITIZENSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FREEDOM PREP CHARTER SCHOOL PROVIDED AN EXCEPTIONAL ALTERNATIVE FOR STUDENTS AND FAMILIES OTHERWISE SLATED TO ATTEND SCHOOLS THAT TOO OFTEN DO NOT MEET THEIR NEEDS. IT EMBODIED A REFINED NO EXCUSES APPROACH. IN ADDITION TO INCORPORATING THE TRADITIONAL ATTRIBUTES THAT RESEARCHERS HAVE PROVEN TO BE CORRELATED WITH IMPROVED STUDENT LEARNING OUTCOMES - EXTENDED SCHOOL DAYS AND YEARS, RIGOROUS COLLEGE-PREP ACADEMICS, ONGOING USE OF DATA TO INFORM INSTRUCTIONAL DECISIONS AND RESOURCE ALLOCATION, CONSISTENT CULTURAL AND ACADEMIC EXPECTATIONS, AND EXCEPTIONAL TALENT AT ALL LEVELS, FREEDOM PREP CHARTER SCHOOL WAS UNIQUE IN ITS COMMITMENT TO THREE OTHER KEY DESIGN ELEMENTS: A COMMITMENT TO EDUCATING ALL STUDENTS, IN ALL SUBJECTS IN ALL GRADES; AUTHENTIC CIVIC LEADERSHIP AND ENGAGEMENT; AND OPERATING ON PUBLIC FUNDS. THE CHARTER SCHOOL WAS AUTHORIZED TO SERVE A MAXIMUM OF 1,020 STUDENTS DURING THE 2022-2023 SCHOOL YEAR IN GRADES K-12. HOWEVER, IT ENDED THE 2022-2023 SCHOOL YEAR WITH AN ENROLLMENT OF 694 STUDENTS. IT SHOULD BE NOTED THAT EFFECTIVE JUNE 30, 2023, THE SCHOOL'S CHARTER WAS REVOKED BY THE NEW JERSEY COMMISSIONER OF EDUCATION. THEREFORE, THE CHARTER SCHOOL CEASED OPERATIONS EFFECTIVE JUNE 30, 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Krystie Birdsall President | OfficerTrustee | 2 | $0 |
Matthew Daviddoff Vice President | OfficerTrustee | 2 | $0 |
James Fridie Member | Trustee | 2 | $0 |
Alex Jones Member | Trustee | 2 | $0 |
Tomas Varela Member | Trustee | 2 | $0 |
Alex Rosado-Torres Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Maschio's Food Services Food Service | 6/29/23 | $817,498 |
First Student Transportation | 6/29/23 | $772,435 |
School Business Office School Business Services | 6/29/23 | $191,178 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,887,188 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,887,188 |
| Total Program Service Revenue | $14,644,043 |
| Investment income | $0 |
| 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 | $19,923,524 |
| 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. | $1,508,097 |
| Compensation of current officers, directors, key employees. | $904,858 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,176,139 |
| Pension plan accruals and contributions | $304,988 |
| Other employee benefits | $3,378,338 |
| Payroll taxes | $664,345 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,327 |
| Fees for services: Accounting | $243,528 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,015,383 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $74,073 |
| Royalties | $0 |
| Occupancy | $1,002,912 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $922,411 |
| Insurance | $88,316 |
| All other expenses | $0 |
| Total functional expenses | $20,414,104 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,427,589 |
| Savings and temporary cash investments | $75,025 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $530,339 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,240,198 |
| Total assets | $11,273,151 |
| Accounts payable and accrued expenses | $412,328 |
| Grants payable | $0 |
| Deferred revenue | $502,995 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,137,382 |
| Total liabilities | $6,052,705 |
| Net assets without donor restrictions | $5,220,446 |
| 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 | $11,273,151 |