Folk Arts-Cultural Treasures Charter School
- Assets
- $8.2m
- Revenue
- $9.6m
- Investments
- $0.0
- Employees
- 82
- Location
- Philadelphia, PA
- Founding
- 04/2006
- Data as of
- 06/2023
- EIN
- 52-2457806
Organization Overview
Folk Arts-Cultural Treasures Charter School is located in Philadelphia, PA. The organization was established in 2006. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2023, Folk Arts-Cultural Treasures Charter School employed 82 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Folk Arts-Cultural Treasures Charter School 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, Folk Arts-Cultural Treasures Charter School generated $9.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $8.8m during the year ending 06/2023. While expenses have increased by 4.2% 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
FACTS PROVIDES CHILDREN WITH AN EXEMPLARY EDUCATION THAT UTILIZES TRADITIONAL ARTS AND CULTURES FOUND WITHIN THEIR OWN AND NEIGHBORING COMMUNITIES AS THE CATALYST FOR CRITICAL INQUIRY AND COMMUNITY ENGAGEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
K-8 PUBLIC EDUCATION. FACTS PROVIDES APPROXIMATELY 450 PHILADELPHIA CHILDREN WITH AN EDUCATION WHICH HAS HIGH ACADEMIC STANDARDS, IT TRULY COMMUNITY BASED, INCORPORATES AND RESPECTS THE LIVES OF STUDENTS AND THEIR FAMILIES, ENGAGES STUDENTS IN UNDERSTANDING THEIR OWN CULTURES AND COMMUNITIES, AND ENGAGES STUDENT IN UNDERSTANDING THEIR ROLE AS ACTIVE PARTICIPANTS IN WORKING FOR A JUST SOCIETY.
ENGLISH FOR SPEAKERS OF OTHER LANGUAGES PROGRAM (ESOL): A CORE IMPETUS BEHIND FACTS FOUNDING WAS TO ADDRESS THE PARTICULAR NEEDS OF IMMIGRANT AND REFUGEE STUDENTS AND THEIR FAMILIES. TWO THIRDS OF FACTS STUDENTS SPEAK A LANGUAGE OTHER THAN ENGLISH AT HOME. 30% OF FACTS STUDENTS RECEIVE ESOL SERVICES. OUR NATIONALLY RECOGNIZED ESOL PROGRAM ENGAGES ESOL SPECIALISTS IN COLLABORATION WITH CLASSROOM TEACHERS TO BEST MEET THE NEEDS OF INDIVIDUAL STUDENTS.
FACTS PARTICIPATES IN THE NATIONAL SCHOOL BREAKFAST AND LUNCH COMMUNITY ELIGIBILITY PROVISION PROGRAM DURING THE 2022-2023 SCHOOL YEAR. FACTS OFFERED FREE BREAKFAST AND LUNCH TO ALL STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lim Pheng Principal | Officer | 40 | $106,233 |
Ellen Somekawa Executive Di | Officer | 40 | $105,593 |
David Brown Director Of | Officer | 40 | $84,223 |
Pooja Agrawal Board Member | Trustee | 1 | $0 |
Leana Cabral Board Member | Trustee | 1 | $0 |
Heather M Davis-Jones Secretary | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ho Wong Real Estate Investment Inc Rent | 6/29/22 | $709,592 |
Nyman Associates Therapy And Rel | 6/29/22 | $268,319 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,961,509 |
| All other contributions, gifts, grants, and similar amounts not included above | $152,614 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,114,123 |
| Total Program Service Revenue | $6,419,837 |
| Investment income | $87,074 |
| 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 | $9,621,034 |
| 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 | $434,396 |
| Other salaries and wages | $3,884,593 |
| Pension plan accruals and contributions | $483,720 |
| Other employee benefits | $758,504 |
| Payroll taxes | $312,528 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $66,955 |
| Fees for services: Accounting | $32,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $911,153 |
| Advertising and promotion | $0 |
| Office expenses | $5,632 |
| Information technology | $101,227 |
| Royalties | $0 |
| Occupancy | $257,108 |
| Travel | $27,280 |
| 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 | $797,193 |
| Insurance | $94,651 |
| All other expenses | $62,143 |
| Total functional expenses | $8,751,213 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $302,502 |
| Savings and temporary cash investments | $4,436,588 |
| Pledges and grants receivable | $540,785 |
| Accounts receivable, net | $44,372 |
| 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 | $90,476 |
| Net Land, buildings, and equipment | $1,325,967 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,416,343 |
| Total assets | $8,157,033 |
| Accounts payable and accrued expenses | $914,439 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,212,139 |
| Total liabilities | $11,126,578 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | -$4,295,512 |
| Paid-in or capital surplus, or land, building, or equipment fund | $1,325,967 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $8,157,033 |