Universal Vare Charter School
- Assets
- $3.6m
- Revenue
- $5.3m
- Investments
- $0.0
- Employees
- 43
- Location
- Philadelphia, PA
- Founding
- 09/2011
- Data as of
- 06/2022
- EIN
- 45-0649209
Organization Overview
Universal Vare Charter School is located in Philadelphia, 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 06/2022, Universal Vare Charter School employed 43 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Universal Vare 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, Universal Vare Charter School generated $5.3m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $3.3m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (7.3%) per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE A CHARTER SCHOOL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE EDUCATIONAL PROGRAM UTILIZES COMMUNITY RESOURCES WITHIN THE UNIVERSAL VARE'S IMMEDIATE NEIGHBORHOOD THROUGH A VARIETY OF BEFORE, DURING, AND AFTER SCHOOL PARTNERSHIPS WITH FAMILIES, BUSINESSES, SOCIAL AGENCIES, CIVIC GROUPS AND COMMUNITY ORGANIZATIONS TO ENHANCE THE ACADEMIC PROGRAM AND TO SUPPORT STUDENTS AND THEIR FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patricia Williams-Diaw Board Member | OfficerTrustee | 1 | $0 |
Curtis Savoy President | OfficerTrustee | 3 | $0 |
Phyllis Randall Board Member | Trustee | 1 | $0 |
Christopher Hill Board Member | Trustee | 1 | $0 |
Karen Howell-Toomer Princpal | 40 | $150,630 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Universal Education Companies Management Fees | 6/29/19 | $175,792 |
Universal Community Homes Management Fees | 6/29/19 | $112,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,276,158 |
| 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 | $2,276,158 |
| Total Program Service Revenue | $2,909,788 |
| 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 | $5,252,649 |
| 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 | $2,036,077 |
| Pension plan accruals and contributions | -$406,194 |
| Other employee benefits | $250,798 |
| Payroll taxes | $154,703 |
| Fees for services: Management | $179,131 |
| Fees for services: Legal | $12,531 |
| Fees for services: Accounting | $22,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $151,372 |
| Advertising and promotion | $3,914 |
| Office expenses | $72,464 |
| Information technology | $107,838 |
| Royalties | $0 |
| Occupancy | $3,342 |
| Travel | $23,387 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $24,303 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $177,769 |
| Insurance | $85,116 |
| All other expenses | $0 |
| Total functional expenses | $3,308,481 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $611,693 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $774,290 |
| 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 | $49,109 |
| Net Land, buildings, and equipment | $1,598,793 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $600,113 |
| Total assets | $3,633,998 |
| Accounts payable and accrued expenses | $431,987 |
| Grants payable | $0 |
| Deferred revenue | $9,136 |
| 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 | $3,740,483 |
| Total liabilities | $4,181,606 |
| Net assets without donor restrictions | -$547,608 |
| 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 | $3,633,998 |