Cresthaven Academy Foundation Inc
- Assets
- $5.3m
- Revenue
- $668.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Warren, NJ
- Founding
- 05/2015
- Data as of
- 06/2024
- EIN
- 47-1405920
Organization Overview
Cresthaven Academy Foundation Inc is located in Warren, NJ. The organization was established in 2015. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cresthaven Academy Foundation 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 06/2024, Cresthaven Academy Foundation Inc generated $668.7k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 13.2% each year . All expenses for the organization totaled $524.5k during the year ending 06/2024. While expenses have increased by 10.9% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO HELP THE CRESTHAVEN ACADEMY ADVANCE THEIR MISSION AND IMPROVE THE QUALITY OF EDUCATION FOR CHILDREN IN PLAINFIELD, NEW JERSEY AND SURROUNDING COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CRESTHAVEN ACADEMY FOUNDATION WAS FOUNDED, IN PART, TO PROVIDE FINANCIAL AND TECHNICAL SUPPORT TO, AND FURTHER THE EDUCATIONAL AND CHARITABLE MISSION OF CRESTHAVEN ACADEMY CHARTER SCHOOL, A PUBLIC CHARTER SCHOOL ORGANIZED IN NEW JERSEY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven Colson Chairman | OfficerTrustee | 5 | $0 |
Brendan Murray Treasurer | OfficerTrustee | 1 | $0 |
John Leitch Trustee | Trustee | 1 | $0 |
Will Beckford Trustee | Trustee | 1 | $0 |
Nick San Filippo Trustee | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $208,150 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $208,150 |
| Total Program Service Revenue | $0 |
| Investment income | $10,512 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $450,000 |
| 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 | $668,662 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| 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 | $40,153 |
| Advertising and promotion | $0 |
| Office expenses | $993 |
| Information technology | $7,028 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $285,396 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $166,694 |
| Insurance | $16,748 |
| All other expenses | $396 |
| Total functional expenses | $524,471 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $713,606 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $4,610,727 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,324,333 |
| Accounts payable and accrued expenses | $14,850 |
| 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 | $3,567,817 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,582,667 |
| Net assets without donor restrictions | $1,741,666 |
| 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 | $5,324,333 |