Charter Institute At Erskine
- Assets
- $23.8m
- Revenue
- $232.5m
- Investments
- $0.0
- Employees
- 34
- Location
- Columbia, SC
- Founding
- 03/2019
- Data as of
- 06/2022
- EIN
- 82-3227586
Organization Overview
Charter Institute At Erskine is located in Columbia, SC. The organization was established in 2019. 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 06/2022, Charter Institute At Erskine employed 34 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Charter Institute At Erskine 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, Charter Institute At Erskine generated $232.5m in total revenue. All expenses for the organization totaled $231.7m during the year ending 06/2022. While expenses have increased by 288.3% per year over the past 5 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
THE MISSION OF THE CHARTER INSTITUTE AT ERSKINE IS TO AUTHORIZE HIGH-QUALITY CHARTER SCHOOLS THAT ELEVATE EDUCATIONAL OPPORTUNITIES THROUGH INNOVATION AND CREATIVITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO EMPOWER FAMILIES AND LOCAL COMMUNITIES THROUGH THE ESTABLISHMENT AND COMPETENT OPERATION OF HIGH QUALITY CHARTER SCHOOLS THROUGHOUT SOUTH CAROLINA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Steven Adamson Board Chair | OfficerTrustee | 10 | $0 |
Martin O'connor Treasurer | OfficerTrustee | 5 | $0 |
Stu Rodman Board Member | Trustee | 5 | $0 |
Dr Tony Foster Board Member | Trustee | 5 | $0 |
Dr Gordon Query Board Member | Trustee | 5 | $0 |
Dr Noel Brownlee Board Member | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cantey Tech Consulting Consulting | 6/29/22 | $177,819 |
Timmons Law Firm Law Services | 6/29/22 | $113,545 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $228,415,247 |
| 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 | $228,415,247 |
| Total Program Service Revenue | $3,957,793 |
| Investment income | $4,758 |
| 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 | $232,498,588 |
| 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. | $414,919 |
| Compensation of current officers, directors, key employees. | $82,984 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,799,259 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $419,654 |
| Payroll taxes | $0 |
| Fees for services: Management | $410,397 |
| Fees for services: Legal | $203,195 |
| Fees for services: Accounting | $26,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $41,291 |
| Office expenses | $277,239 |
| Information technology | $575,688 |
| Royalties | $0 |
| Occupancy | $60,569 |
| Travel | $129,026 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $60,847 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $14,434 |
| All other expenses | $73,595 |
| Total functional expenses | $231,678,686 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,388,019 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $21,383,666 |
| 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 | $8,262 |
| Net Land, buildings, and equipment | $1,009,279 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $23,789,226 |
| Accounts payable and accrued expenses | $304,335 |
| Grants payable | $0 |
| Deferred revenue | $232,192 |
| 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 | $1,042,604 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $19,859,345 |
| Total liabilities | $21,438,476 |
| 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 | $2,350,750 |
| Total liabilities and net assets/fund balances | $23,789,226 |