Kipp Charlotte Inc
- Assets
- $18.6m
- Revenue
- $12.9m
- Investments
- $0.0
- Employees
- 141
- Location
- Charlotte, NC
- Founding
- 05/2008
- Data as of
- 06/2022
- EIN
- 20-5664061
Organization Overview
Kipp Charlotte Inc is located in Charlotte, NC. The organization was established in 2008. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 06/2022, Kipp Charlotte Inc employed 141 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kipp Charlotte 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, Kipp Charlotte Inc generated $12.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.1% each year . All expenses for the organization totaled $11.6m during the year ending 06/2022. While expenses have increased by 17.6% 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
OPERATE A PUBLIC CHARTER SCHOOL
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE EDUCATIONAL OPPORTUNITIES FOR THE CHILDREN THAT ATTEND THE CHARTER SCHOOL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Arthur Rogers Member | Trustee | 1 | $0 |
Douglas Khan Member | Trustee | 1 | $0 |
Julius Tillery Member | Trustee | 1 | $0 |
Dinesh Chopra Chair | Trustee | 5 | $0 |
Kelby Hicks Member | Trustee | 1 | $0 |
Minnie Forte-Brown Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $11,721,397 |
| All other contributions, gifts, grants, and similar amounts not included above | $544,791 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,266,188 |
| Total Program Service Revenue | $570,818 |
| 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 | $12,861,729 |
| 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. | $214,860 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,507,373 |
| Pension plan accruals and contributions | $78,807 |
| Other employee benefits | $772,602 |
| Payroll taxes | $387,632 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $22,895 |
| Office expenses | $261,103 |
| Information technology | $89,368 |
| Royalties | $0 |
| Occupancy | $118,517 |
| Travel | $14,473 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $193,382 |
| Interest | $674,599 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $308,997 |
| Insurance | $94,810 |
| All other expenses | $1,126,205 |
| Total functional expenses | $11,629,476 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,940,857 |
| Savings and temporary cash investments | $1,000,980 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $286,195 |
| 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 | $16,755 |
| Net Land, buildings, and equipment | $11,286,342 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $91,889 |
| Total assets | $18,623,018 |
| Accounts payable and accrued expenses | $1,065,488 |
| 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 | $13,611,892 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $14,677,380 |
| Net assets without donor restrictions | $3,945,638 |
| 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 | $18,623,018 |