Marion P Thomas Charter School Inc
- Assets
- $19.5m
- Revenue
- $41.4m
- Investments
- $0.0
- Employees
- 256
- Location
- Newark, NJ
- Founding
- 03/1999
- Data as of
- 06/2023
- EIN
- 22-3531113
Organization Overview
Marion P Thomas Charter School Inc is located in Newark, NJ. The organization was established in 1999. 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 06/2023, Marion P Thomas Charter School Inc employed 256 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Marion P Thomas Charter 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 06/2023, Marion P Thomas Charter School Inc generated $41.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $37.5m during the year ending 06/2023. While expenses have increased by 4.4% 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
MARION P. THOMAS CHARTER SCHOOL IS ONE OF THE LARGEST CHARTER SCHOOL IN THE STATE OF NEW JERSEY. IT IS ONE OF THE ONLY MIMORITY-LED CHARTER SCHOOLS IN THE CITY OF NEWARK, REFLECTING BOTH ITS STUDENT POPULATION AND THE COMMUNITY IT SERVES. IT OFFERS A SEAMLESS EDUCATIONAL EXPERIENCE FROM "CRAYONS TO COLLEGE" GIVING NEWARK RESIDENTS THE OPPORTUNITY TO STAY WITHING ONE SCHOOL SYSTEM FOR THEIR ENTIRE PUBLIC EDUCATIONAL CAREER FROM PREKINDERGARTEN TO 12TH GRADE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2022-2023 THE CHARTER SCHOOL HAD SERVED 1,356 STUDENTS THROUGH ITS PRE-K TO 12TH GRADE CURRICULUM AND SEAMLESS EDUCATIONAL EXPERIENCE FROM "CRAYONS TO COLLEGE." DURING THE SCHOOL YEAR THE CHARTER SCHOOL UNDERTOOK MAJOR INITIATIVES IN ORDER FOR OUR VILLAGE TO CONTINUE TO ACHIEVE ITS HIGH LEVELS OF EXCELLENCE BY IMPLEMENTING NEW TIER I SEL CURRICULUM AND SCHOOL WIDE SUPPORTS, IMPLEMENTING TIER I ACADEMIC CURRICULUM WITH FIDELITY AND ACTIVATE BUILT IN STRUCTURES TO ASSESS AND RESPOND TO THE INDIVIDUAL NEEDS OF STUDENTS, AND DEVELOPING PRINCIPALS AS INSTRUCTIONAL LEADERS. THE CHARTER SCHOOL IMPLEMETED THE EVERY STUDENT SUCCEEDS ACT (ESSA) AND IDEA PROGRAMS (FOR SPECIAL NEEDS STUDENTS). THESE PROGRAMS WERE ENACTED BY CONGRESS TO REAUTHORIZE THE ELEMENTARY AND SECONDARY EDUCATION ACT WITH MAJOR FOCUS ON PROVIDING ALL CHILDREN WITH FAIR, EQUAL AND SIGNIFICANT OPPORTUNITY TO HAVE A HIGH QUALITY EDUCATION THROUGH ENRICHMENT ACTIVITIES. THE CHARTER SCHOOL PROVIDED NUTRITIONALLY BALANCED, LOW COST OR FREE MEALS TO CHILDREN EACH SCHOOL DAY THROUGH ITS BREAKFAST AND LUNCH PROGRAMS AND AFTER CARE PROGRAMS. THE PROGRAMS ARE FEDERALLY AND STATE FUNDED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pastor Vince Rouse Chair | OfficerTrustee | 2 | $0 |
Dashar Carter Vice Chair | OfficerTrustee | 2 | $0 |
Brianna Gilchrist Member | Trustee | 2 | $0 |
Dr Princess Towe Member | Trustee | 2 | $0 |
Julio Valdievieso Member | Trustee | 2 | $0 |
Alan Boomer Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $39,734,649 |
| All other contributions, gifts, grants, and similar amounts not included above | $50,098 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $39,784,747 |
| Total Program Service Revenue | $93,838 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $930,000 |
| 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 | $41,357,127 |
| 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. | $2,461,586 |
| Compensation of current officers, directors, key employees. | $1,476,952 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $13,422,890 |
| Pension plan accruals and contributions | $599,672 |
| Other employee benefits | $6,478,877 |
| Payroll taxes | $1,215,162 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $350,630 |
| Fees for services: Accounting | $305,671 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,813,880 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,521,583 |
| 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 | $88,051 |
| Insurance | $480,926 |
| All other expenses | $1,756,502 |
| Total functional expenses | $37,456,344 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,122,739 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,222,752 |
| 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 | $2,000,000 |
| Net Land, buildings, and equipment | $841,932 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $337,740 |
| Total assets | $19,525,163 |
| Accounts payable and accrued expenses | $890,632 |
| Grants payable | $0 |
| Deferred revenue | $116,031 |
| 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 | $0 |
| Total liabilities | $1,006,663 |
| Net assets without donor restrictions | $18,518,500 |
| 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 | $19,525,163 |