I Lead Charter School - Reading
- Assets
- $708.8k
- Revenue
- $774.5k
- Investments
- $0.0
- Employees
- 3
- Location
- Fort Washington, PA
- Founding
- 10/2011
- Data as of
- 06/2021
- EIN
- 27-4410895
Organization Overview
I Lead Charter School - Reading is located in Fort Washington, PA. The organization was established in 2011. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2021, I Lead Charter School - Reading employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. I Lead Charter School - Reading 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 06/2021, I Lead Charter School - Reading generated $774.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (29.6%) each year. All expenses for the organization totaled $749.4k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (29.2%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION OPERATED A CHARTER SCHOOL LOCATED IN READING, PENNSYLVANIA, THROUGH JUNE 30, 2020. THE SCHOOL SERVED YOUTH ENROLLED IN GRADES NINE THROUGH TWELVE DISCONNECTED FROM SCHOOL WITH THE OPPORTUNITY TO RE-ENGAGE IN THEIR EDUCATION AND TRANSITION SUCCESSFULLY INTO ADULTHOOD. THE SCHOOL'S CHARTER WAS NOT RENEWED, AND ACTIVITY IS LIMITED TO CLOSING OUT OPERATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION OPERATED A CHARTER SCHOOL LOCATED IN READING, PENNSYLVANIA, THROUGH JUNE 30, 2020. THE SCHOOL SERVED YOUTH ENROLLED IN GRADES NINE THROUGH TWELVE DISCONNECTED FROM SCHOOL WITH THE OPPORTUNITY TO RE-ENGAGE IN THEIR EDUCATION AND TRANSITION SUCCESSFULLY INTO ADULTHOOD. THE SCHOOL'S CHARTER WAS NOT RENEWED, AND ACTIVITY IS LIMITED TO CLOSING OUT OPERATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Angelo Romaneillo Principal | Officer | 50 | $27,500 |
Anthony Montemurro Board President | OfficerTrustee | 12 | $0 |
Robert Natalini Secretary | OfficerTrustee | 12 | $0 |
Joseph Amprey Board Member | OfficerTrustee | 12 | $0 |
Robert Jefferson Board Member | OfficerTrustee | 12 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $773,183 |
| 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 | $773,183 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $774,548 |
| 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. | $27,500 |
| Compensation of current officers, directors, key employees. | $27,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $233,171 |
| Pension plan accruals and contributions | $3,869 |
| Other employee benefits | $47,622 |
| Payroll taxes | $16,651 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35,683 |
| Fees for services: Accounting | $79,245 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $249,253 |
| Advertising and promotion | $165 |
| Office expenses | $3,716 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $25,342 |
| Travel | $198 |
| 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 | $0 |
| Insurance | $5,235 |
| All other expenses | $0 |
| Total functional expenses | $749,415 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $708,431 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $350 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $708,781 |
| Accounts payable and accrued expenses | $5,742 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $53,829 |
| Total liabilities | $59,571 |
| Net assets without donor restrictions | $649,210 |
| 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 | $708,781 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that I Lead Charter School - Reading has recieved totaling $26,250.
| Awarding Organization | Amount |
|---|---|
Greater Reading Chamber And Economic Development Corporation Reading, PA PURPOSE: ADVANCEMENT | $26,250 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
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 |