First Philadelphia Preparatory Charter School
- Assets
- $60.3m
- Revenue
- $39.4m
- Investments
- $0.0
- Employees
- 208
- Location
- Philadelphia, PA
- Founding
- 12/2002
- Data as of
- 06/2023
- 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 06/2023, First Philadelphia Preparatory Charter School employed 208 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 06/2023, First Philadelphia Preparatory Charter School generated $39.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.2% each year. All expenses for the organization totaled $32.5m during the year ending 06/2023. While expenses have increased by 3.8% 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
2023
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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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deborah Smith CEO | Officer | 40 | $148,279 |
Erina Pearlstein School Principal Leader High | 40 | $118,383 | |
Jennifer Marsico School Principal Leader K-7 | 40 | $121,999 | |
Pashen Solomon-Jackson School Principal Leader K-7 | 40 | $118,372 | |
Anita Vega-Kaiser President | OfficerTrustee | 1 | $0 |
Teresa V Grumbrecht Vice President | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Brett Dinovi Associates Llc Consulting | 6/29/23 | $955,338 |
Bsi Construction Llc Construction | 6/29/23 | $190,082 |
Sand And Saidel Pc Legal | 6/29/23 | $299,335 |
Focus Staffing Group Llc Temp Staffing | 6/29/23 | $172,041 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $12,858,986 |
| All other contributions, gifts, grants, and similar amounts not included above | $33,500 |
| Noncash contributions included in lines 1a–1f | $84,676 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,892,486 |
| Total Program Service Revenue | $26,412,014 |
| Investment income | $18,626 |
| 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 | $39,399,233 |
| 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. | $216,905 |
| Compensation of current officers, directors, key employees. | $37,939 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,534,180 |
| Pension plan accruals and contributions | -$1,459,415 |
| Other employee benefits | $2,087,870 |
| Payroll taxes | $747,550 |
| Fees for services: Management | $1,834,612 |
| Fees for services: Legal | $360,714 |
| Fees for services: Accounting | $36,764 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,917,299 |
| Advertising and promotion | $0 |
| Office expenses | $722,934 |
| Information technology | $638,438 |
| Royalties | $0 |
| Occupancy | $1,328,860 |
| Travel | $26,679 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,209 |
| Interest | $2,692,252 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,087,830 |
| Insurance | $242,526 |
| All other expenses | $0 |
| Total functional expenses | $32,524,773 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,463,328 |
| Savings and temporary cash investments | $7,041,522 |
| Pledges and grants receivable | $1,018,792 |
| Accounts receivable, net | $604,506 |
| 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 | $780,319 |
| Net Land, buildings, and equipment | $2,000,846 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $34,433,654 |
| Total assets | $60,342,967 |
| Accounts payable and accrued expenses | $2,891,282 |
| Grants payable | $0 |
| Deferred revenue | $1,873,164 |
| 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 | $49,662,000 |
| Total liabilities | $54,426,446 |
| Net assets without donor restrictions | $5,916,521 |
| 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 | $60,342,967 |