Berkeley Charter Education Association Inc
- Assets
- $33.1m
- Revenue
- $17.4m
- Investments
- $0.0
- Employees
- 141
- Location
- Goose Creek, SC
- Founding
- 03/2017
- Data as of
- 06/2022
- EIN
- 81-1188857
Organization Overview
Berkeley Charter Education Association Inc is located in Goose Creek, SC. The organization was established in 2017. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2022, Berkeley Charter Education Association Inc employed 141 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Berkeley Charter Education Association 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 06/2022, Berkeley Charter Education Association Inc generated $17.4m in total revenue. All expenses for the organization totaled $17.5m during the year ending 06/2022. While expenses have increased by 152.1% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
BERKELEY CHARTER EDUCATION ASSOCIATION, INC IS MADE UP OF A GROUP OF COMMUNITY LEADERS WITH EXPERTISE IN THE FIELDS OF EDUCATION, FINANCE, LAW, MARKETING, REAL ESTATE, BUSINESS, AND GOVERNMENT WHO SHARE A COMMON VISION TO START A SCHOOL THAT WOULD ALLOW STUDENTS TO OBTAIN THE KNOWLEDGE AND SKILLS NEEDED TO BE LEADERS AND PROFESSIONALS, AS WELL AS KEEP UP WITH ADVANCED TECHNOLOGIES IN ALL TYPES OF BUSINESSES AND INDUSTRIES FOR FUTURE GENERATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION OPERATES TWO TUITION-FREE PUBLIC CHARTER SCHOOLS IN SOUTH CAROLINA--MEVERS SCHOOL OF EXCELLENCE AND BERKELEY PREPARATORY ACADEMY.MEVERS SCHOOL OF EXCELLENCE WAS ESTABLISHED IN AUGUST 2016. DURING THE 2021-22 SCHOOL YEAR IT SERVED APPROXIMATELY 900 STUDENTS FROM KINDERGARTEN TO EIGHTH GRADE IN BERKELEY COUNTY, SOUTH CAROLINA.FOR BERKELY PREPARATORY ACADEMY, THE 2021-22 SCHOOL WAS ITS FIRST YEAR OPERATING AS A PUBLIC CHARTER SCHOOL. DURING THIS YEAR IT SERVED APPROXIMATELY 550 STUDENTS FROM KINDERGARTEN TO NINTH GRADE IN BERKELEY COUNTY, SOUTH CAROLINA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stewart Weinberg PHD President | OfficerTrustee | 2 | $0 |
Cheryl Hollis Vice-President | OfficerTrustee | 1 | $0 |
Jeff Hajek Treasurer | Trustee | 1 | $0 |
Sandra Hightower Secretary | Trustee | 1 | $0 |
Maria Sweet Director | Trustee | 1 | $0 |
Joseph Bowers Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Red Apple Development Managemnt | 6/29/22 | $1,544,814 |
10jin Tech Package Supplies - Service | 6/29/22 | $141,177 |
Curriculum Associates Student Curriculum | 6/29/22 | $130,158 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $16,083,343 |
| 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 | $16,083,343 |
| Total Program Service Revenue | $1,288,784 |
| Investment income | $991 |
| 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 | $17,373,118 |
| 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 | $5,686,552 |
| Pension plan accruals and contributions | $14,911 |
| Other employee benefits | $431,917 |
| Payroll taxes | $438,037 |
| Fees for services: Management | $29,071 |
| Fees for services: Legal | $36,123 |
| Fees for services: Accounting | $8,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $866,743 |
| Advertising and promotion | $149,012 |
| Office expenses | $26,765 |
| Information technology | $594,712 |
| Royalties | $0 |
| Occupancy | $1,173,420 |
| Travel | $41,427 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,077,970 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,532,266 |
| Insurance | $155,082 |
| All other expenses | $457,274 |
| Total functional expenses | $17,501,243 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,575,706 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,555,733 |
| 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 | $183,420 |
| Net Land, buildings, and equipment | $27,745,250 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $55,957 |
| Total assets | $33,116,066 |
| Accounts payable and accrued expenses | $966,152 |
| 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 | $31,435,883 |
| Total liabilities | $32,402,035 |
| Net assets without donor restrictions | $0 |
| 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 | $714,031 |
| Total liabilities and net assets/fund balances | $33,116,066 |