Isaac Newton Foundation Inc
- Assets
- $135.7m
- Revenue
- $9.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Philadelphia, PA
- Founding
- 01/2017
- Data as of
- 06/2023
- EIN
- 23-3083881
Organization Overview
Isaac Newton Foundation Inc is located in Philadelphia, PA. The organization was established in 2017. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is a parent organization of an affiliated group for tax-exemption purposes. Isaac Newton Foundation 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, Isaac Newton Foundation Inc generated $9.3m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 20.7% each year . All expenses for the organization totaled $9.2m during the year ending 06/2023. While expenses have increased by 17.8% 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
THE FOUNDATION'S MISSION IS TO SUPPORT THE HEALTH, WELFARE, EDUCATIONAL INTERESTS OF THE MATHEMATICS, SCIENCE & TECHNOLOGY COMMUNITY CHARTER SCHOOL (THE "SCHOOL"), A PENNSYLVANIA NONPROFIT CORPORATION THAT IS EXEMPT FROM FEDERAL INCOME TAX AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986 (THE "CODE"), AS AMENDED.THE FOUNDATION IS A NONPROFIT CORPORATION ESTABLISHED UNDER THE LAWS OF THE COMMONWEALTH OF PENNSYLVANIA. THE PURPOSES FOR WHICH THE FOUNDATION IS ORGANIZED AND OPERATED ARE EXCLUSIVELY CHARITABLE AND EDUCATIONAL WITHIN THE MEANING OF SECTION 501(C)(3) OF THE CODE, AND, IN FURTHERANCE OF THESE PURPOSES, THE FOUNDATION MAY: (A) OPERATE EXCLUSIVELY FOR THE SUPPORT AND BENEFIT OF THE SCHOOL AND ITS AFFILIATED OR CONTROLLED ORGANIZATIONS THAT ARE PUBLICLY SUPPORTED CHARTITIES AS DEFINED UNDER THE CODE; (B) UTILIZE RESOURCES FOR THE PURPOSES OF REPLICATING THE SCHOOL'S EDUCATIONAL MODEL; (C) RECEIVE CONTRIBUTIONS FROM WHATEVER SOURCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ORGANIZATION LEASES PROPERTY TO MATHEMATICS, SCIENCE AND TECHNOLOGY COMMUNITY CHARTER SCHOOL, A NOT-FOR-PROFIT ENTITY FORMED UNDER 501(C)(3) ID# 23-2963763, MAST COMMUNITY CHARTER SCHOOL II, A NOT-FOR-PROFIT ENTITY FORMED UNDER 501(C)(3) ID# 47-3810173, AND MAST COMMUNITY CHARTER SCHOOL III, A NOT-FOR-PROFIT ENTITY FORMED UNDER 501(C)(3) ID #83-1383617.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen Delguercio Board President | OfficerTrustee | 1 | $0 |
Jan Brophy Board Vice President / Secretary | OfficerTrustee | 1 | $0 |
Dr Norman Provizer Board Member | Trustee | 1 | $0 |
Louis Decree Treasurer | OfficerTrustee | 1 | $0 |
Hope Inge Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bsi Construction Llc Construction | 6/29/23 | $6,737,362 |
Ewing Cole Inc Architecture & Design | 6/29/23 | $149,262 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,641 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,641 |
| Total Program Service Revenue | $8,429,598 |
| Investment income | $513,268 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $377,335 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,335,087 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $4,000 |
| Fees for services: Legal | $2,603 |
| Fees for services: Accounting | $27,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $98,349 |
| Advertising and promotion | $0 |
| Office expenses | $4,488 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,613 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,505,651 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,147,069 |
| Insurance | $445,660 |
| All other expenses | $2,656 |
| Total functional expenses | $9,248,339 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,120,955 |
| Savings and temporary cash investments | $669,213 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $233,750 |
| Net Land, buildings, and equipment | $114,239,681 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $18,479,632 |
| Total assets | $135,743,231 |
| Accounts payable and accrued expenses | $2,843,579 |
| Grants payable | $0 |
| Deferred revenue | $12,099,318 |
| Tax-exempt bond liabilities | $112,790,891 |
| 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 | $127,733,788 |
| Net assets without donor restrictions | $8,009,443 |
| 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 | $135,743,231 |