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Nonprofiteer
← SUCCESS ACADEMY CHARTER SCHOOLS INC

Form 990 for tax year 2022

Filed by SUCCESS ACADEMY CHARTER SCHOOLS INC.

Totals

Total revenue
$143,889,167
Total expenses
$123,024,079
Contributions and grants received
$63,019,733
Grants paid
$3,827,960
Program service revenue
$68,456,961
Investment income
$1,454,573
Other revenue
$10,957,900
Total assets, end of year
$362,618,379
Total liabilities, end of year
$161,974,070
Net assets or fund balances, end of year
$200,644,309
Program services expenses (Part IX)
$102,676,350
Management and general expenses
$15,809,796
Fundraising expenses
$4,537,933
Program service expenses (Part III)
$102,676,350

Program services were 83.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $5,163,404

  • 1e · Government grants (contributions)

    $4,346,624

  • 1f · All other contributions, gifts and grants

    $53,509,705

  • 2a · Program service revenue: MANAGEMENT FEES

    total $68,456,961 · related or exempt $68,456,961

  • 3 · Investment income

    total $1,109,688 · unrelated business $0 · excluded $1,109,688

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6a · Gross rents

    personal property $10,283,294

  • 6c · Rental income or loss

    real property $0 · personal property $10,283,294

  • 6d · Net rental income or loss

    total $10,283,294 · excluded $10,283,294

  • 7a · Gross sales of assets other than inventory

    securities $30,297,386

  • 7b · Less cost or other basis and sales expenses

    securities $29,952,501

  • 7c · Gain or loss

    securities $344,885

  • 7d · Net gain or loss

    total $344,885 · excluded $344,885

  • 8a · Fundraising events: gross income

    $592,392

  • 8a · Fundraising events: contributions included on line 1c

    $5,163,404

  • 8b · Fundraising events: direct expenses

    $592,392

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $674,606 · excluded $674,606

  • 11e · Other revenue, total

    $674,606

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,827,960 · program services $3,827,960

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $3,042,129 · program services $2,555,388 · management and general $395,477 · fundraising $91,264

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $53,228,164 · program services $44,711,660 · management and general $6,919,660 · fundraising $1,596,844

  • 8 · Pension plan contributions

    total $1,166,399 · program services $979,775 · management and general $151,632 · fundraising $34,992

  • 9 · Other employee benefits

    total $4,355,851 · program services $3,658,915 · management and general $566,261 · fundraising $130,675

  • 10 · Payroll taxes

    total $4,114,145 · program services $3,455,882 · management and general $534,839 · fundraising $123,424

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $1,212,816 · management and general $1,212,816

  • 11c · Fees: accounting

    total $710,334 · management and general $710,334

  • 11d · Fees: lobbying

    total $222,664 · program services $222,664

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $9,420,582 · program services $7,877,663 · management and general $1,253,622 · fundraising $289,297

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $299,419 · program services $251,512 · management and general $38,924 · fundraising $8,983

  • 14 · Information technology

    total $10,602,487 · program services $8,906,089 · management and general $1,378,323 · fundraising $318,075

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $7,767,007 · program services $7,015,490 · management and general $610,608 · fundraising $140,909

  • 17 · Travel

    total $559,828 · program services $470,255 · management and general $72,778 · fundraising $16,795

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $3,996,413 · program services $3,970,038 · management and general $21,430 · fundraising $4,945

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $3,344,773 · program services $3,162,788 · management and general $147,863 · fundraising $34,122

  • 23 · Insurance

    total $573,171 · program services $492,927 · management and general $80,244

  • 24a · Other expenses: TEACHER/STAFF RECRUITMENT

    total $6,626,789 · program services $5,561,053 · management and general $858,762 · fundraising $206,974

  • 24b · Other expenses: PARENT & COMMUNITY OUTREACH

    total $1,228,005 · program services $1,031,524 · management and general $159,641 · fundraising $36,840

  • 24c · Other expenses: PROFESSIONAL DEVELOPMENT

    total $563,726 · program services $484,804 · management and general $78,922

  • 24d · Other expenses: MISCELLANEOUS

    total $6,161,417 · program services $4,039,963 · management and general $617,660 · fundraising $1,503,794

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $50,810,732 · end of year $50,707,568

  • 2 · Savings and temporary cash investments

    beginning of year $3,531,356 · end of year $12,307,580

  • 3 · Pledges and grants receivable

    beginning of year $1,841,634 · end of year $54,079

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $1,324,497 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,590,705 · end of year $3,836,282

  • 10a · Land, buildings and equipment: cost or other basis

    $198,966,485

  • 10b · Land, buildings and equipment: accumulated depreciation

    $8,923,593

  • 10c · Land, buildings and equipment, net

    beginning of year $179,610,128 · end of year $190,042,892

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $34,776,354 · end of year $105,669,978

  • 17 · Accounts payable and accrued expenses

    beginning of year $19,514,621 · end of year $22,628,848

  • 18 · Grants payable

    beginning of year $472,000 · end of year $676,000

  • 19 · Deferred revenue

    beginning of year $17,605,977 · end of year $20,658,256

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $7,400,000 · end of year $5,800,000

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $49,733,434 · end of year $112,210,966

  • 27 · Net assets without donor restrictions

    beginning of year $163,770,782 · end of year $181,741,155

  • 28 · Net assets with donor restrictions

    beginning of year $15,988,592 · end of year $18,903,154

Mission and programs · 2022

Mission

TO PROVIDE CHILDREN IN NEW YORK CITY WITH AN EXCEPTIONALLY HIGH-QUALITY EDUCATION THAT GIVES THEM THE KNOWLEDGE, SKILLS, CHARACTER AND DISPOSITION TO MEET AND EXCEED NEW YORK STATE STANDARDS, AND THE RESOURCES TO SUCCEED AND LEAD IN SCHOOL, COLLEGE AND A COMPETITIVE GLOBAL ECONOMY.

Activities or mission (Part I)

TO PROVIDE CHILDREN IN NYC WITH A HIGH QUALITY EDUCATION THAT GIVES THEM THE KNOWLEDGE, SKILLS, CHARACTER & DISPOSITION TO MEET & EXCEED NYS STANDARDS,& THE RESOURCES TO SUCCEED.

  • THE ORGANIZATION PROVIDED MANAGEMENT AND ADMINISTRATIVE SUPPORTING SERVICES TO THIRTY FOUR DISTINCT CHARTER SCHOOLS WITHIN THE BOUNDARIES OF THE BRONX, BROOKLYN, AND MANHATTAN BOROUGHS OF NEW YORK CITY. THE NETWORK'S ACTIVITIES INCLUDE: 1) HIRING EDUCATIONAL CONSULTANTS AND STAFF TO ADVISE ON SCHOOLS' DEVELOPMENT; 2) RESEARCHING AND DOCUMENTING THE SUCCESSFUL CHARACTERISTICS OF K-12 SCHOOLS SUCH AS THOSE AFFILIATED WITH THE NETWORK; 3) CREATING AND IMPLEMENTING A PLAN FOR THE REPLICATION OF THE SUCCESS ACADEMIES; 4) PROVIDING RESOURCES TO NEW CHARTER SCHOOLS, SUCH AS ASSISTANCE RECRUITING LEADERSHIP, ADMINISTRATION AND STAFF, RECRUITING STUDENTS, AND FOSTERING THE DEVELOPMENT OF SHARED SERVICES, CURRICULA, AND FACILITIES; 5) PERFORMING RESEARCH ON POLICIES THAT CAN INCREASE EDUCATIONAL OPPORTUNITIES FOR ALL CHILDREN, INCLUDING BUT NOT LIMITED TO POLICIES RELATING TO CHARTER SCHOOLS; 6) SUPPORTING EDUCATIONAL ORGANIZATIONS WITH SIMILAR GOALS; 7) PROVIDING ADDITIONAL SUPPORT TO STUDENTS WITHIN THE NETWORK OR STUDENTS OF NEED TO ALLOW THEM TO PURSUE ACADEMIC EXCELLENCE; AND 8) OTHER ACTIVITIES THAT PROMOTE EDUCATIONAL ACHIEVEMENT.

    Expenses $102,676,350 · Grants $3,827,960 · Revenue $68,456,961

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Eva Moskowitz

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $1,018,977
    From this org
    $182,518
    From related orgs
    $780,000
    Other
    $56,459
    Hours/week
    50 + 5 related

    Schedule J breakdown matched by us

    Base
    $182,518 + $405,000 related
    Bonus
    $0 + $375,000 related
    Other
    $0
    Deferred
    $27,000
    Nontaxable benefits
    $29,459
    Filer's total
    $238,977 + $780,000 related

  • David Ellner

    CHIEF, ENTERPRISE SVCS MGMT

    Total calculated
    $626,707
    From this org
    $584,095
    From related orgs
    $0
    Other
    $42,612
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $393,470
    Bonus
    $190,625
    Other
    $0
    Deferred
    $27,000
    Nontaxable benefits
    $15,612
    Filer's total
    $626,707

  • Ingrid Lamae De Jongh

    CHIEF, SCHOOLING PLAN & MGMT

    Total calculated
    $572,908
    From this org
    $540,625
    From related orgs
    $0
    Other
    $32,283
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $400,000
    Bonus
    $140,625
    Other
    $0
    Deferred
    $27,000
    Nontaxable benefits
    $5,283
    Filer's total
    $572,908

  • Shabbir Ahmed

    CHIEF FINANCIAL OFFICER

    Total calculated
    $455,943
    From this org
    $429,110
    From related orgs
    $0
    Other
    $26,833
    Hours/week
    50 + 5 related

    Schedule J breakdown matched by us

    Base
    $333,110
    Bonus
    $96,000
    Other
    $0
    Deferred
    $21,550
    Nontaxable benefits
    $5,283
    Filer's total
    $455,943

  • Jason Niederkorn

    CHIEF, ADVISORY MANAGEMENT

    Total calculated
    $453,346
    From this org
    $415,156
    From related orgs
    $0
    Other
    $38,190
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $317,656
    Bonus
    $97,500
    Other
    $0
    Deferred
    $12,675
    Nontaxable benefits
    $25,515
    Filer's total
    $453,346

  • Ann Powell

    Executive, Public Affairs

    Total calculated
    $449,689
    From this org
    $410,118
    From related orgs
    $0
    Other
    $39,571
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $311,118
    Bonus
    $99,000
    Other
    $0
    Deferred
    $27,000
    Nontaxable benefits
    $12,571
    Filer's total
    $449,689

  • Miles Braffett

    EXECUTIVE, TECHNOLOGY

    Total calculated
    $409,791
    From this org
    $361,707
    From related orgs
    $0
    Other
    $48,084
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $301,707
    Bonus
    $60,000
    Other
    $0
    Deferred
    $18,625
    Nontaxable benefits
    $29,459
    Filer's total
    $409,791

  • Paula Hunchar

    EXECUTIVE, ADVANCEMENT MGMT

    Total calculated
    $400,440
    From this org
    $359,911
    From related orgs
    $0
    Other
    $40,529
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $296,911
    Bonus
    $63,000
    Other
    $0
    Deferred
    $27,000
    Nontaxable benefits
    $13,529
    Filer's total
    $400,440

  • Lei Sun

    Chief, EI Team Management

    Total calculated
    $333,468
    From this org
    $292,577
    From related orgs
    $0
    Other
    $40,891
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $246,577
    Bonus
    $46,000
    Other
    $0
    Deferred
    $15,376
    Nontaxable benefits
    $25,515
    Filer's total
    $333,468

  • Amanda Cabreira Da Silva

    EXECUTIVE, ENTERPRISE SERVICES

    Total calculated
    $309,911
    From this org
    $266,523
    From related orgs
    $0
    Other
    $43,388
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $222,643
    Bonus
    $43,880
    Other
    $0
    Deferred
    $13,929
    Nontaxable benefits
    $29,459
    Filer's total
    $309,911

  • Brittany Giovinazzi

    EXECUTIVE, EDGE

    Total calculated
    $306,143
    From this org
    $259,503
    From related orgs
    $0
    Other
    $46,640
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $212,698
    Bonus
    $46,805
    Other
    $0
    Deferred
    $17,181
    Nontaxable benefits
    $29,459
    Filer's total
    $306,143

  • WENDY Foster THRU 1222

    Chief, Schooling

    Total calculated
    $181,908
    From this org
    $162,703
    From related orgs
    $0
    Other
    $19,205
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $162,703
    Bonus
    $0
    Other
    $0
    Deferred
    $13,922
    Nontaxable benefits
    $5,283
    Filer's total
    $181,908

  • Steve Galbraith

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Suzie Kovner

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Richard S Pzena

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Kent A Yalowitz

    SECRETARY

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Mary Berner

    LEAD TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Rich Barrera

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Diahann Billings-Buford

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Joel Greenblatt

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Fitz Haney

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • John Hood

    TRUSTEE (THRU 11/22)

    Total calculated
    $0
    Hours/week
    1

  • Melvin Ike

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Yen Liow

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Daniel S Loeb

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Bob Niehaus

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • John Petry

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Simon Shaw

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7:
SCHEDULE J, PART II, COLUMN (B)(II) REPORTS DISCRETIONARY INCENTIVE AMOUNTS THAT WERE APPROVED BY THE BOARD BASED UPON PERFORMANCE.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • Success Brook Ave LLC

    SVC. PROVIDER · DE · income $0 · assets $0

    Directly controlled by SACS

  • 586 RIVER AVE LLC

    REAL ESTATE · DE · income $0 · assets $127,082,100

    Directly controlled by SACS

  • 153 Hillside Ave LLC

    REAL ESTATE · DE · income $36 · assets $30,777,368

    Directly controlled by sacs

Provenance

Return type
form_990
Tax year
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202401359349312340

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