Pave Schools Inc
- Assets
- $32.4m
- Revenue
- $15.3m
- Investments
- $0.0
- Employees
- 11
- Location
- Brooklyn, NY
- Founding
- 02/2008
- Data as of
- 06/2021
- EIN
- 20-4241997
Organization Overview
Pave Schools Inc is located in Brooklyn, NY. The organization was established in 2008. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2021, Pave Schools Inc employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pave Schools 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 06/2021, Pave Schools Inc generated $15.3m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 18.7% each year . All expenses for the organization totaled $1.8m during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE OPERATION OF CHARTER SCHOOLS IN BROOKLYN, NEW YORK AND RALEIGH, NORTH CAROLINA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE FISCAL YEAR ENDED JUNE 30, 2021, THE ORGANIZATION PROVIDED MANAGEMENT, ADMINISTRATION, FACILITY DEVELOPMENT, AND FUNDRAISING SERVICES TO TWO CHARTER SCHOOLS LOCATED IN NEW YORK CITY AND RALEIGH, NORTH CAROLINA. PAVE SCHOOLS, INC A CHARTER MANAGEMENT ORGANIZATION PROVIDED PAVE ACADEMY CHARTER SCHOOL AND PAVE SOUTHEAST RALEIGH CHARTER SCHOOL WITH MANAGEMENT SERVICES DURING FY20. THIS INCLUDED PROVIDING EDUCATIONAL, OPERATIONAL, FISCAL MANAGEMENT AND HUMAN RESOURCES SERVICES TO BOTH SCHOOLS. AS OF JUNE 30, 2020 THE MANAGEMENT AGREEMENTS BETWEEN PAVE SCHOOLS INC AND PAVE ACADEMY CHARTER SCHOOL AND PAVE SOUTHEAST RALEIGH CHARTER SCHOOL WERE MUTUALLY TEMRINATED. DURING FY21 PAVE SCHOOLS BEGAN TO WIND DOWN OPERATIONS, WITH THE FINAL EMPLOYEE LEAVING THE ORGANIZAITON IN FEBRUARY 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lindsay Danon Managing Director | Officer | 45 | $131,135 |
Lisa Lurie Managing Director, Finance | Officer | 45 | $104,543 |
Jessica Wagner Director Of Talent Acquisition | 40 | $102,150 | |
Patrick Sweeney Board Chair And President | OfficerTrustee | 1 | $0 |
Steve Olson Treasurer | OfficerTrustee | 1 | $0 |
Dylan Glenn Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Charter School Business Management Financial Management Services | 6/29/20 | $182,424 |
Tensquare Recruitment Services | 6/29/20 | $146,625 |
Charter School Business Management Financial Management Services | 6/29/20 | $182,424 |
Tensquare Recruitment Services | 6/29/20 | $146,625 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $136,355 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $136,355 |
| Total Program Service Revenue | $170,780 |
| 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 | $15,301,214 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $115,196 |
| 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. | $61,378 |
| Compensation of current officers, directors, key employees. | $23,222 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $67,448 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,875 |
| Payroll taxes | $10,878 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $600 |
| Fees for services: Accounting | $24,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $117,945 |
| Advertising and promotion | $4,887 |
| Office expenses | $38,420 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $72,443 |
| Travel | $822 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $112,348 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,177,027 |
| Insurance | $22,494 |
| All other expenses | $15,056 |
| Total functional expenses | $1,847,317 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,670,154 |
| Savings and temporary cash investments | $102,707 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $30,580,256 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $32,353,117 |
| Accounts payable and accrued expenses | $22,171 |
| Grants payable | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,431 |
| Total liabilities | $23,602 |
| Net assets without donor restrictions | $32,329,515 |
| 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 | $32,353,117 |
Grants Awarded
Over the last fiscal year, Pave Schools Inc has awarded $272,400 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Brooklyn, NY PURPOSE: GENERAL OPERATING support. | $177,400 |
TRIANGLE TRANSPORTATION LLC PURPOSE: GENERAL OPERATING support. | $60,000 |
PAVE 238 CONOVER LLC PURPOSE: GENERAL OPERATING support. | $35,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Pave Schools Inc has recieved totaling $310,005.
| Awarding Organization | Amount |
|---|---|
The Chase And Stephanie Coleman Foundation New York, NY PURPOSE: EDUCATION | $300,000 |
Srs Family Foundation Inc Florham Park, NJ PURPOSE: GENERAL UNRESTRICTED | $10,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hunter College Foundation Inc New York, NY | $144,509,988 | $37,248,838 |
The American Friends Of Winchester College New York, NY | $259,900 | $15,435,931 |
Friends Of@ascend Charter Schools Inc Brooklyn, NY | $51,013,536 | $16,135,870 |
Rowan University Foundation Inc Glassboro, NJ | $339,808,677 | $39,224,287 |
Equitable Facilities Fund Inc New York, NY | $843,754,758 | $34,535,002 |
Dudley Square Realty Corporation Boston, MA | $98,074,702 | $123 |
Stockton Affiliated Services Inc Galloway, NJ | $3,017,488 | $12,674,409 |
Auxiliary Campus Enterprises And Services State University College Alfred, NY | $11,814,689 | $16,740,654 |
College Of Staten Island Auxiliary Services Corp Inc Staten Island, NY | $62,695,629 | $9,780,570 |
American Friends Of The National Gallery London Inc New York, NY | $305,852,204 | $2,300,126 |
Auxiliary Services Corporation Of Suny Cortland Cortland, NY | $19,099,097 | $10,450,642 |
The Roosevelt Institute New York, NY | $39,947,474 | $14,561,739 |