First Philadelphia Preparatory Charter School
- Assets
- $56.0m
- Revenue
- $34.2m
- Investments
- $0.0
- Employees
- 215
- Location
- Philadelphia, PA
- Founding
- 12/2002
- Data as of
- 06/2022
- EIN
- 23-3062230
Organization Overview
First Philadelphia Preparatory Charter School is located in Philadelphia, PA. The organization was established in 2002. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2022, First Philadelphia Preparatory Charter School employed 215 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. First Philadelphia Preparatory Charter School 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, First Philadelphia Preparatory Charter School generated $34.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.8% each year. All expenses for the organization totaled $29.4m during the year ending 06/2022. While expenses have increased by 5.6% 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
TO PROVIDE A HIGH QUALITY PUBLIC EDUCATION FOR STUDENTS IN GRADES K-12 IN THE CITY OF PHILADELPHIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FIRST PHILADELPHIA PREPARATORY CHARTER SCHOOL IS A CHARTER SCHOOL IN THE CITY OF PHILADELPHIA, PENNSYLVANIA, WHICH PROVIDES EDUCATIONAL INSTRUCTION TO STUDENTS FROM GRADES K THROUGH 12.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deborah Smith CEO | Officer | 40 | $144,422 |
Anita Vega-Kaiser President | OfficerTrustee | 1 | $0 |
Karin Y Coger Vice President | OfficerTrustee | 1 | $0 |
Teresa V Grumbrecht Treasurer | Trustee | 1 | $0 |
Barbara Saunders Secretary | Trustee | 1 | $0 |
Teeyona Crumpton Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Brett Dinovi Associates Llc Professional Service | 6/29/22 | $563,476 |
American Paradigm Schools Management Services | 6/29/22 | $1,908,268 |
Independence Blue Cross Insurance Services | 6/29/22 | $866,699 |
Veris Benefits Consortium Insurance Services | 6/29/22 | $819,838 |
Kokua Substitute Services | 6/29/22 | $604,112 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $6,295,291 |
| All other contributions, gifts, grants, and similar amounts not included above | $34,000 |
| Noncash contributions included in lines 1a–1f | $81,982 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,329,291 |
| Total Program Service Revenue | $27,358,846 |
| Investment income | $316 |
| 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 | $34,220,830 |
| 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. | $210,692 |
| Compensation of current officers, directors, key employees. | $42,422 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,649,281 |
| Pension plan accruals and contributions | -$612,939 |
| Other employee benefits | $1,973,550 |
| Payroll taxes | $673,230 |
| Fees for services: Management | $1,915,119 |
| Fees for services: Legal | $399,078 |
| Fees for services: Accounting | $30,401 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,384,886 |
| Advertising and promotion | $521 |
| Office expenses | $988,790 |
| Information technology | $395,235 |
| Royalties | $0 |
| Occupancy | $1,288,661 |
| Travel | $8,927 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $23,316 |
| Interest | $2,737,320 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,065,031 |
| Insurance | $221,986 |
| All other expenses | $0 |
| Total functional expenses | $29,391,287 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,258,942 |
| Savings and temporary cash investments | $2,036,779 |
| Pledges and grants receivable | $1,919,538 |
| Accounts receivable, net | $90,750 |
| 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 | $633,889 |
| Net Land, buildings, and equipment | $36,580,223 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,525,195 |
| Total assets | $56,045,316 |
| Accounts payable and accrued expenses | $2,889,104 |
| Grants payable | $0 |
| Deferred revenue | $859,373 |
| 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 | $37,552,777 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $15,702,001 |
| Total liabilities | $57,003,255 |
| Net assets without donor restrictions | -$957,939 |
| 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 | $56,045,316 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that First Philadelphia Preparatory Charter School has recieved totaling $62,555.
| Awarding Organization | Amount |
|---|---|
Elevate 215 Philadelphia, PA PURPOSE: Chromebooks | $52,555 |
Share Our Strength Washington, DC PURPOSE: CHILDHOOD HUNGER PROGRAMS | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ascend Charter Schools Brooklyn, NY | $45,182,055 | $130,071,368 |
Team Academy Charter School Inc Newark, NJ | $62,784,056 | $112,036,254 |
Agora Cyber Charter School King Of Prussia, PA | $29,812,274 | $123,843,368 |
Kipp Nyc Public Charter Schools Ii New York, NY | $29,013,020 | $109,312,231 |
The Academy Charter School Hempstead, NY | $181,369,373 | $54,353,660 |
Mastery Charter High School Philadelphia, PA | $43,740,057 | $52,618,647 |
Public Prep Charter School Academies Bronx, NY | $28,993,375 | $52,903,915 |
Chesapeake Lighthouse Foundation Inc Laurel, MD | $97,823,093 | $48,417,489 |
Explore Excel Charter School Brooklyn, NY | $21,686,253 | $46,865,700 |
Brooklyn Prospect Charter School Brooklyn, NY | $14,747,543 | $42,286,541 |
Little Red School House Inc New York, NY | $50,588,811 | $36,915,940 |
Philadelphia Performing Arts A String Theory Charter School Philadelphia, PA | $27,708,411 | $43,176,770 |