Mastery Charter Schools Foundation
- Assets
- $113.5m
- Revenue
- $9.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Philadelphia, PA
- Founding
- 08/2007
- Data as of
- 06/2023
- EIN
- 20-5593485
Organization Overview
Mastery Charter Schools Foundation is located in Philadelphia, PA. The organization was established in 2007. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mastery Charter Schools Foundation 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, Mastery Charter Schools Foundation generated $9.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $6.4m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Mastery Charter Schools Foundation has awarded 156 individual grants totaling $38,371,956. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP AND PROVIDE FINANCIAL SUPPORT FOR THE MASTERY NETWORK OF CHARTER SCHOOLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION WILL DRIVE EDUCATIONAL REFORM BY SUPPORTING THE ACADEMIC AND OPERATIONAL PROGRAMS OF MASTERY CHARTER SCHOOLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mona Burke Board Member | Trustee | 1 | $0 |
Stephen Cohn President | OfficerTrustee | 1 | $0 |
William Luterman Board Member | Trustee | 1 | $0 |
Walter Maner Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Skanska Usa Building Inc Construction | 6/29/18 | $9,767,007 |
Northstar Owners Representation Construction Management Services | 6/29/18 | $113,376 |
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 | $2,901,786 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,901,786 |
| Total Program Service Revenue | $0 |
| Investment income | $5,929,588 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $255,232 |
| Net Gain/Loss on Asset Sales | $626,263 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,714,744 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,158,603 |
| Grants and other assistance to domestic individuals. | $519,963 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $48,831 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $101,250 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,457,772 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,243 |
| All other expenses | $84,249 |
| Total functional expenses | $6,376,911 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $13,629,250 |
| Pledges and grants receivable | $532,007 |
| Accounts receivable, net | $271,422 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $14,323,281 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $11,277,893 |
| Investments—publicly traded securities | $16,281,410 |
| Investments—other securities | $0 |
| Investments—program-related | $57,150,840 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $113,466,103 |
| Accounts payable and accrued expenses | $545,795 |
| Grants payable | $741,609 |
| 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 | $59,680,918 |
| Total liabilities | $60,968,322 |
| Net assets without donor restrictions | $41,225,563 |
| Net assets with donor restrictions | $11,272,218 |
| 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 | $113,466,103 |
Grants Awarded
Over the last fiscal year, Mastery Charter Schools Foundation has awarded $2,155,073 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
MASTERY CHARTER HIGH SCHOOLMASTERY CHARTER HIGH SCHOOL PURPOSE: CHARTER SCHOOL SUPPO | $1,851,004 |
MASTERY CHARTER SCHOOL - HARRITY EL PURPOSE: CHARTER SCHOOL SUPPO | $15,757 |
MASTERY CHARTER SCHOOL - PICKETT CAMASTERY CHARTER SCHOOL - PICKETT PURPOSE: CHARTER SCHOOL SUPPO | $27,225 |
MASTERY CHARTER SCHOOL - SMEDLEY ELMASTERY CHARTER SCHOOL - SMEDLEY PURPOSE: CHARTER SCHOOL SUPPO | $32,687 |
MASTERY CHARTER SCHOOL - GRATZ CAMPMASTERY CHARTER SCHOOL - GRATZ PURPOSE: CHARTER SCHOOL SUPPO | $33,827 |
MASTERY CHARTER SCHOOL - MANN ELEM PURPOSE: CHARTER SCHOOL SUPPO | $5,806 |