Independence Mission Schools
- Assets
- $51.6m
- Revenue
- $46.9m
- Investments
- $0.0
- Employees
- 571
- Location
- Philadelphia, PA
- Founding
- 08/2013
- Data as of
- 06/2023
- EIN
- 45-4720688
Organization Overview
Independence Mission Schools is located in Philadelphia, PA. The organization was established in 2013. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2023, Independence Mission Schools employed 571 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Independence Mission 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 06/2023, Independence Mission Schools generated $46.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $33.0m during the year ending 06/2023. While expenses have increased by 2.5% 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
INDEPENDENCE MISSION SCHOOLS MANAGES A NETWORK OF CATHOLIC ELEMENTARY SCHOOLS THROUGH A CENTRAL OFFICE LOCATION WHICH PROVIDES SUPPORT TO ALL OF THE SCHOOLS. THE MISSION OF IMS IS TO PROVIDE SUSTAINABLE, AFFORDABLE, HIGH-QUALITY CATHOLIC EDUCATION TO NEARLY 4,000 CHILDREN OF ALL FAITHS IN UNDERSERVED URBAN NEIGHBORHOODS THROUGH A NEW MODEL OF GOVERNANCE, FUNDING, AND ACCOUNTABILITY FOR THE MEMBER SCHOOLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IMS IS ENTERING ITS 10TH YEAR OF OPERATION AND IS MIDWAY THROUGH THE SECOND YEAR OF THE STRATEGIC PLAN. THE POST-PANDEMIC RECOVERY IS UNDERWAY AS INDICATED BY STABILIZED ENROLLMENT MEASURED BY RETENTION OF RETURNING STUDENTS AS WELL AS NET NEW STUDENTS. IMS CONTINUES TO OUTPERFORM BOTH NATIONAL AND HIGH-POVERTY LEARNING GROWTH STATISTICS IN BOTH ENGLISH LANGUAGE ARTS AND MATH. THESE RESULTS SUPPORT OUR STRATEGIC PLAN GOAL OF IMPROVING STUDENT ACADEMIC OUTCOMES. IN ADDITION, DONORS CONTINUE TO PROVIDE POSITIVE SUPPORT OF THE IMS STRATEGIC PLAN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce Robinson CEO And Pres | Officer | 40 | $275,554 |
Gianna D'angelo COO And CFO | Officer | 40 | $255,000 |
Jill Valunas Chief Of Sch | 40 | $193,846 | |
Michelle Brown Chief Devel. | Officer | 40 | $145,754 |
Brian Kenneth Morton Dep. Chief O | 40 | $121,216 | |
Courtney Lemon-Tate Dir School L | 40 | $109,560 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tads Tuition Mgmt | 6/29/23 | $364,636 |
National Mainten And Build Out Co Construction | 6/29/23 | $356,660 |
Valley Forge Investment Corp Investment Adv | 6/29/23 | $281,536 |
Jt Miller Inc Plumbing | 6/29/23 | $436,138 |
Open Up Resources Curriculum Prov | 6/29/23 | $241,740 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $8,074,205 |
| All other contributions, gifts, grants, and similar amounts not included above | $28,459,585 |
| Noncash contributions included in lines 1a–1f | $667,342 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $36,533,790 |
| Total Program Service Revenue | $9,942,846 |
| Investment income | $5,622 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $90,744 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $46,876,562 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $920,615 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $695,265 |
| Compensation of current officers, directors, key employees. | $170,973 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $19,079,237 |
| Pension plan accruals and contributions | $374,966 |
| Other employee benefits | $1,635,059 |
| Payroll taxes | $1,649,737 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $47,334 |
| Fees for services: Accounting | $55,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $26,200 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $143,227 |
| Advertising and promotion | $165,546 |
| Office expenses | $0 |
| Information technology | $191,929 |
| Royalties | $0 |
| Occupancy | $877,913 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $63,704 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,205,779 |
| Insurance | $381,241 |
| All other expenses | $477,045 |
| Total functional expenses | $32,985,292 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $821,138 |
| Savings and temporary cash investments | $2,912,581 |
| Pledges and grants receivable | $10,129,643 |
| Accounts receivable, net | $517,723 |
| 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 | $10,532,575 |
| Investments—publicly traded securities | $214,977 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $26,503,578 |
| Total assets | $51,632,215 |
| Accounts payable and accrued expenses | $3,353,210 |
| Grants payable | $0 |
| Deferred revenue | $16,926 |
| Tax-exempt bond liabilities | $1,964,165 |
| 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 | $5,334,301 |
| Net assets without donor restrictions | $23,135,225 |
| Net assets with donor restrictions | $23,162,689 |
| 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 | $51,632,215 |