Charter Schools Development Corporation
- Assets
- $136.6m
- Revenue
- $12.6m
- Investments
- $0.0
- Employees
- 15
- Location
- Hanover, MD
- Founding
- 08/1998
- Data as of
- 12/2022
- EIN
- 52-2063496
Organization Overview
Charter Schools Development Corporation is located in Hanover, MD. The organization was established in 1998. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 12/2022, Charter Schools Development Corporation employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Charter Schools Development Corporation 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 12/2022, Charter Schools Development Corporation generated $12.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $7.9m during the year ending 12/2022. While expenses have increased by 3.3% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
FINANCING AND BUILDING GREAT PUBLIC CHARTER SCHOOLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING LOANS, CREDIT ENHANCEMENTS, FINANCING GUARANTEES, FACILITY DEVELOPMENT AND MANAGEMENT SUPPORT TO CHARTER SCHOOLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Curran Chair-Incoming | OfficerTrustee | 2 | $28,000 |
Tom Nida Chair-Outgoing | OfficerTrustee | 2 | $11,000 |
Ember Reichgott Junge Vice Chair | OfficerTrustee | 2 | $10,000 |
Jim Goenner Director & Treasurer | OfficerTrustee | 2 | $17,000 |
Lanette Dailey-Reese Director & Secretary | OfficerTrustee | 2 | $17,000 |
Jay Hromatka Director | Trustee | 2 | $12,500 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tensquare Consulting | 12/30/22 | $127,926 |
North Shore Construction & Development S Construction | 12/30/22 | $109,337 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $7,102,008 |
| Government grants | $526,000 |
| 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 | $7,628,008 |
| Total Program Service Revenue | $4,971,703 |
| Investment income | $112,952 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$161,324 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,551,339 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $116,147 |
| 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. | $2,122,079 |
| Compensation of current officers, directors, key employees. | $862,319 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $313,511 |
| Pension plan accruals and contributions | $41,812 |
| Other employee benefits | $148,039 |
| Payroll taxes | $134,007 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $225,544 |
| Fees for services: Accounting | $77,417 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $102,957 |
| Advertising and promotion | $35,911 |
| Office expenses | $65,385 |
| Information technology | $73,013 |
| Royalties | $0 |
| Occupancy | $1,180,520 |
| Travel | $204,557 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,557,047 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $244,981 |
| Insurance | $77,132 |
| All other expenses | $56 |
| Total functional expenses | $7,899,598 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $67,892,069 |
| Savings and temporary cash investments | $9,349,260 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $458,100 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $49,424,774 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $37,791 |
| Net Land, buildings, and equipment | $5,890,243 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $9,919 |
| Other assets | $3,564,578 |
| Total assets | $136,626,734 |
| Accounts payable and accrued expenses | $496,777 |
| Grants payable | $0 |
| Deferred revenue | $183,011 |
| 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 | $58,247,517 |
| Unsecured mortgages and notes payable | $2,057,986 |
| Other liabilities | $889,114 |
| Total liabilities | $61,874,405 |
| Net assets without donor restrictions | $14,693,388 |
| Net assets with donor restrictions | $60,058,941 |
| 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 | $136,626,734 |
Grants Awarded
Over the last fiscal year, Charter Schools Development Corporation has awarded $29,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
BUFFALO ACADEMY OF SCIENCE CS PURPOSE: TOM NIDA AWARD | $15,000 |
JEFFERSON RISE CHARTER SCHOOL PURPOSE: TOM NIDA AWARD & SAFETY GRANT | $6,000 |
SAN ANTONIO PREPARATORY CHARTER SCHOOL PURPOSE: SAFETY GRANT | $8,000 |