Philips Academy Charter School Inc
- Assets
- $1.6m
- Revenue
- $9.2m
- Investments
- $0.0
- Employees
- 110
- Location
- Newark, NJ
- Founding
- 07/2014
- Data as of
- 06/2021
- EIN
- 46-1960549
Organization Overview
Philips Academy Charter School Inc is located in Newark, NJ. 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 06/2021, Philips Academy Charter School Inc employed 110 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Philips Academy Charter School Inc 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, Philips Academy Charter School Inc generated $9.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.9% each year. All expenses for the organization totaled $8.9m during the year ending 06/2021. While expenses have increased by 9.1% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
WE WILL PROVIDE A MORAL AND RIGOROUS EDUCATION, ACCOMPLISHED IN A HANDS-ON, TECHNOLOGY INFUSED EDUCATIONAL ENVIRONMENT THAT WILL ALLOW OUR STUDENTS TO ATTEND COLLEGE, WHILE DEVELOPING A COMMITMENT TO GLOBAL CITIZENSHIP
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE WILL PROVIDE A MORAL AND RIGOROUS EDUCATION TO A DIVERSE STUDENT BODY, ACCOMPLISHED IN A HANDS-ON, TECHNOLOGY INFUSED EDUCATIONAL ENVIRONMENT THAT EMBRACES DIFFERENTIATED INSTRUCTION AND INDIVIDUAL ATTENTION THAT WILL ALLOW OUR STUDENTS TO ATTEND COLLEGE, WHILE DEVELOPING A COMMITMENT TO GLOBAL CITIZENSHIP, ENVIRONMENTAL SUSTAINABILITY, AND PERSONAL VIRTUE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Yasmeen Sampson Principal | Officer | 40 | $0 |
K Anthony Thomas Trustee | Trustee | 5 | $0 |
Kevin Callaghan Vice President | Trustee | 5 | $0 |
Tammie A Reid President | Trustee | 5 | $0 |
Elizabeth Abitanto Trustee | Trustee | 5 | $0 |
Joy Lindsay Trustee | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $9,114,850 |
| All other contributions, gifts, grants, and similar amounts not included above | $65,432 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,180,282 |
| Total Program Service Revenue | $1,792 |
| 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 | $9,182,074 |
| 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 | $5,058,988 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,202,738 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $450,000 |
| 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 | $0 |
| Insurance | $93,246 |
| All other expenses | $119,262 |
| Total functional expenses | $8,948,653 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $762,838 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $689,474 |
| 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 | $12,450 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $135,000 |
| Total assets | $1,599,762 |
| Accounts payable and accrued expenses | $806,069 |
| Grants payable | $0 |
| Deferred revenue | $341,927 |
| 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 | $0 |
| Total liabilities | $1,147,996 |
| Net assets without donor restrictions | $445,133 |
| Net assets with donor restrictions | $6,633 |
| 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 | $1,599,762 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Philips Academy Charter School Inc has recieved totaling $62,956.
| Awarding Organization | Amount |
|---|---|
New Jersey Charter Public Schools Association A New Jersey Non-Profi Hamilton, NJ PURPOSE: CSP GRANT | $57,956 |
Edison Properties Newark Foundation Newark, NJ PURPOSE: GENERAL CHARITABLE | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Our World Neighborhood Charter School Astoria, NY | $8,035,800 | $19,394,981 |
Zeta Charter Schools - New York City Bronx, NY | $8,294,050 | $24,042,847 |
Tapestry Charter School Buffalo, NY | $42,673,326 | $19,036,142 |
Belmont Charter School Philadelphia, PA | $6,922,339 | $21,008,354 |
Riverton Street Charter School Jamaica, NY | $876,028 | $18,020,045 |
Community Partnership Charter School Brooklyn, NY | $6,697,823 | $17,421,510 |
University Heights Charter School Of Excellence Inc Newark, NJ | $19,966,425 | $19,377,888 |
Propel Charter School Sunrise Pittsburgh, PA | $9,914,076 | $19,454,226 |
West Oak Lane Charter School Philadelphia, PA | $9,484,536 | $17,633,515 |
New World Preparatory Charter School Staten Island, NY | $11,039,877 | $15,891,688 |
Central Jersey College Preparatory Charter School Somerset, NJ | $11,475,546 | $18,846,415 |
Mast Community Charter School Iii Philadelphia, PA | $53,124,349 | $21,172,350 |