Hovnanian School Inc
- Assets
- $3.8m
- Revenue
- $2.9m
- Investments
- $489.5k
- Employees
- 55
- Location
- New Milford, NJ
- Founding
- 02/1977
- Data as of
- 07/2019
- EIN
- 22-2126689
Organization Overview
Hovnanian School Inc is located in New Milford, NJ. The organization was established in 1977. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2021, Hovnanian School Inc employed 55 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hovnanian School 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 07/2019, Hovnanian School Inc generated $2.9m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $3.0m during the year ending 07/2019. While expenses have increased by 2.1% per year over the past 5 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE INSTRUCTION TO ENROLLED STUDENTS AND ENRICH THEM WITH THE ARMENIAN CULTURE AND HISTORY
Describe the Organization's Program Activity:
Part 3 - Line 4a
DAYTIME INSTRUCTION GIVEN TO APPROXIMATELY 128 STUDENTS, INCLUDING REGULAR PUBLIC SCHOOL CURRICULUM WITH ADDITIONAL ARMENIAN LANGUAGE AND HISTORY CLASSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher S Sarafian Principal | Officer | 40 | $86,125 |
Nazar Altun ESQ Chairman | Trustee | 2 | $0 |
Siranoush Dervogormiyaciyan Vice-Chairman | Trustee | 2 | $0 |
Vicken Arslanian Treasurer | Trustee | 2 | $0 |
Berta Zakian Advisor | Trustee | 2 | $0 |
Avak Uzatmaciyan Nominating Sub-Committee Chair | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $434,282 |
| Investment income | $53,716 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $39,152 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $347,839 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,927,707 |
| Statement of Expenses | |
|---|---|
| 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. | $127,381 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,744,113 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $52,923 |
| Payroll taxes | $174,744 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $33,350 |
| Advertising and promotion | $9,582 |
| Office expenses | $46,622 |
| Information technology | $71,451 |
| 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 | $10,055 |
| Interest | $59,296 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $158,224 |
| Insurance | -$83,326 |
| All other expenses | $0 |
| Total functional expenses | $3,012,029 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $194,034 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $97,000 |
| Accounts receivable, net | $239,590 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $5,997 |
| Prepaid expenses and deferred charges | $61,854 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $489,504 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,797,484 |
| Accounts payable and accrued expenses | $195,625 |
| Grants payable | $0 |
| Deferred revenue | $340,613 |
| 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 | $1,372,231 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,647 |
| Total liabilities | $1,913,116 |
| Net assets without donor restrictions | $1,884,368 |
| 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 |
| Total liabilities and net assets/fund balances | $1,884,368 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Hovnanian School Inc has recieved totaling $40,000.
| Awarding Organization | Amount |
|---|---|
Kirk & Arsineh Kazazian Family Charitable Trust Fort Lauderdale, FL PURPOSE: EDUCATIONAL | $30,000 |
Kirk & Arsineh Kazazian Family Charitable Trust Fort Lauderdale, FL PURPOSE: EDUCATIONAL | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New Foundations Charter School Marlton, NJ | $17,967,778 | $23,202,828 |
Village Community School New York, NY | $70,966,980 | $22,510,782 |
Sanford School Inc Hockessin, DE | $33,539,309 | $20,013,159 |
Speyer Legacy School New York, NY | $16,160,814 | $25,812,126 |
Lancaster Country Day School Lancaster, PA | $75,848,302 | $20,350,115 |
Freire Charter School Philadelphia, PA | $7,896,247 | $17,871,218 |
Academy In Manayunk Inc Conshohocken, PA | $64,687,092 | $23,625,839 |
Sussex Academy Of Arts & Sciences Inc Georgetown, DE | $42,610,221 | $13,826,672 |
Celebrate The Children Inc Denville, NJ | $8,659,449 | $15,671,388 |
Eugenio Maria De Hostos Charter School Rochester, NY | $9,947,408 | $17,341,158 |
Buckley Country Day School Roslyn, NY | $25,298,235 | $15,722,484 |
Big Apple Institute Inc Brooklyn, NY | $4,985,995 | $17,005,118 |