Franklin Towne Charter Elementary School
- Assets
- $25.7m
- Revenue
- $18.3m
- Investments
- $0.0
- Employees
- 53
- Location
- Philadelphia, PA
- Founding
- 09/2009
- Data as of
- 06/2022
- EIN
- 26-4634765
Organization Overview
Franklin Towne Charter Elementary School, operating under the name School, is located in Philadelphia, PA. The organization was established in 2009. 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, School employed 53 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 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, School generated $18.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.7% each year. All expenses for the organization totaled $13.4m during the year ending 06/2022. While expenses have increased by 4.1% 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
BASIC ELEMENTARY SCHOOL EDUCATION FOR STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FRANKLIN TOWNE CHARTER ELEMENTARY SCHOOL IS AN INDEPENDENT CHARTER SCHOOL WITH THE PRIMARY PURPOSE TO PROVIDE EDUCATION WITH UNIQUE SUPPORT SERVICE TO FACILITATE THIS GOAL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Megan Walsh Chief Bus Officer | Officer | 40 | $150,000 |
Cynthia Marelia President | Trustee | 2 | $0 |
Joseph A Garbariano Secretary/tres | Trustee | 2 | $0 |
Michele Krajewski Vice President | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Franklin Towne Charter High School Tech. Support | 6/29/22 | $0 |
Nutrition Group Food Service | 6/29/22 | $0 |
Omnivest Managment Llc Management Services | 6/29/22 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,488,629 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,488,629 |
| Total Program Service Revenue | $13,791,907 |
| Investment income | $6,736 |
| 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 | $18,287,272 |
| 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 | $6,343,648 |
| Pension plan accruals and contributions | $985,682 |
| Other employee benefits | $1,266,414 |
| Payroll taxes | $494,743 |
| Fees for services: Management | $676,590 |
| Fees for services: Legal | $265,851 |
| Fees for services: Accounting | $25,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $79,032 |
| Information technology | $197,209 |
| Royalties | $0 |
| Occupancy | $1,197,967 |
| 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 | $452,993 |
| Insurance | $128,435 |
| All other expenses | $0 |
| Total functional expenses | $13,416,213 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,354,946 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,884,136 |
| 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 | $320,345 |
| Net Land, buildings, and equipment | $11,851,600 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,330,464 |
| Total assets | $25,741,491 |
| Accounts payable and accrued expenses | $1,964,687 |
| Grants payable | $0 |
| Deferred revenue | $99,158 |
| 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 | $13,486,084 |
| Total liabilities | $15,549,929 |
| Net assets without donor restrictions | $10,191,562 |
| 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 | $25,741,491 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Franklin Towne Charter Elementary School has recieved totaling $80,544.
| Awarding Organization | Amount |
|---|---|
Elevate 215 Philadelphia, PA PURPOSE: Chromebooks | $80,544 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
True North Rochester Preparatorycharter School Rochester, NY | $31,478,453 | $41,687,630 |
Classical Charter Schools Bronx, NY | $15,984,342 | $34,614,781 |
Bronx Charter School For Excellence Bronx, NY | $63,378,035 | $40,736,120 |
Avon Grove Charter School West Grove, PA | $50,579,082 | $34,467,872 |
Science Academies Of New York Charter Schools Syracuse, NY | $37,462,091 | $36,615,185 |