Ascend Charter Schools
- Assets
- $56.3m
- Revenue
- $137.4m
- Investments
- $0.0
- Employees
- 949
- Location
- Brooklyn, NY
- Founding
- 09/2014
- Data as of
- 06/2022
- EIN
- 45-3957158
Organization Overview
Ascend Charter Schools is located in Brooklyn, NY. The organization was established in 2014. 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, Ascend Charter Schools employed 949 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ascend Charter Schools 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, Ascend Charter Schools generated $137.4m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 63.8% each year . All expenses for the organization totaled $135.7m during the year ending 06/2022. While expenses have increased by 64.3% per year over the past 6 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
TO EQUIP EVERY STUDENT WITH THE KNOWLEDGE, CONFIDENCE, AND CHARACTER TO SUCCEED IN COLLEGE AND BEYOND.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASCEND CHARTER SCHOOLS IS A NETWORK OF K-12 PUBLIC CHARTER SCHOOLS SERVING 5,750 STUDENTS IN 9 SCHOOLS ACROSS BROOKLYN, NEW YORK'S MOST POPULOUS BOROUGH. OUR UNDERTAKING IS TO LEAD OUR STUDENTS ON A GREAT INTELLECTUAL ADVENTURE, PROVIDE THEM WITH AN EXCEPTIONAL COLLEGE PREPARATORY EDUCATION, AND PLACE THEM FIRMLY ON THE PATH TO SUCCESS IN COLLEGE AND BEYOND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephanie Mauterstock Board Chair | OfficerTrustee | 2.5 | $0 |
Stanley Taylor Vice Chair | OfficerTrustee | 2.5 | $0 |
Shelly Cleary Treasurer | OfficerTrustee | 2.5 | $0 |
Emmanuel Fordjour Secretary | OfficerTrustee | 2.5 | $0 |
Kwaku Andoh Trustee | Trustee | 2.5 | $0 |
Amanda Craft Trustee (thru Dec 2021) | Trustee | 2.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mark Lang Painting Llc Painting Services | 6/29/22 | $491,600 |
Lavinia Group Llc Educational Consulting | 6/29/22 | $457,000 |
Murphy Burnham & Buttrick Architects L Architectural Services | 6/29/22 | $312,086 |
Noor Staffing Group Llc Staffing Services | 6/29/22 | $277,070 |
Pkf O'connor Davies Llp Audit Services | 6/29/22 | $125,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $16,928,909 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,940 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $16,935,849 |
| Total Program Service Revenue | $120,478,881 |
| Investment income | $26,921 |
| 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 | $137,441,682 |
| 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 | $57,547,273 |
| Pension plan accruals and contributions | $946,802 |
| Other employee benefits | $7,053,056 |
| Payroll taxes | $4,552,940 |
| Fees for services: Management | $16,045,384 |
| Fees for services: Legal | $33,325 |
| Fees for services: Accounting | $124,681 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,930,627 |
| Advertising and promotion | $224,931 |
| Office expenses | $1,285,601 |
| Information technology | $4,527,218 |
| Royalties | $0 |
| Occupancy | $26,432,607 |
| Travel | $739,575 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $135,230 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,392,536 |
| Insurance | $654,770 |
| All other expenses | $1,023,391 |
| Total functional expenses | $135,665,583 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,660,657 |
| Savings and temporary cash investments | $25,806,844 |
| Pledges and grants receivable | $10,274,467 |
| 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 | $590,625 |
| Net Land, buildings, and equipment | $14,933,943 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,000,756 |
| Total assets | $56,267,292 |
| Accounts payable and accrued expenses | $7,692,457 |
| Grants payable | $0 |
| Deferred revenue | $1,790,602 |
| 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 | $2,075,814 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $34,475,424 |
| Total liabilities | $46,034,297 |
| Net assets without donor restrictions | $10,232,995 |
| 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 | $56,267,292 |