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Nonprofiteer
← CHESAPEAKE LIGHTHOUSE FOUNDATION INC

Form 990 for tax year 2022

Filed by CHESAPEAKE LIGHTHOUSE FOUNDATION INC.

Totals

Total revenue
$58,554,386
Total expenses
$49,066,135
Contributions and grants received
$6,335,345
Grants paid
$0
Program service revenue
$51,922,729
Investment income
$269,148
Other revenue
$27,164
Total assets, end of year
$104,993,642
Total liabilities, end of year
$77,855,506
Net assets or fund balances, end of year
$27,138,136
Program services expenses (Part IX)
$37,661,761
Management and general expenses
$11,404,374
Fundraising expenses
$0
Program service expenses (Part III)
$37,661,761

Program services were 76.8% 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.

  • 1e · Government grants (contributions)

    $6,285,571

  • 1f · All other contributions, gifts and grants

    $49,774

  • 2a · Program service revenue: PER PUPIL FUNDING

    total $50,599,330 · related or exempt $50,599,330

  • 2b · Program service revenue: ENRICHMENT FEES

    total $1,319,199 · related or exempt $1,319,199

  • 2c · Program service revenue: OTHER PROGRAM REVENUE

    total $4,200 · related or exempt $4,200

  • 3 · Investment income

    total $269,148 · excluded $269,148

  • 6a · Gross rents

    real property $1,650

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $1,650

  • 6d · Net rental income or loss

    total $1,650 · excluded $1,650

  • 11a · Other revenue: CASHBACK REWARDS

    total $25,514 · excluded $25,514

  • 11e · Other revenue, total

    $25,514

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $391,716 · program services $313,373 · management and general $78,343

  • 7 · Other salaries and wages

    total $22,888,134 · program services $18,310,507 · management and general $4,577,627

  • 8 · Pension plan contributions

    total $269,678 · program services $215,742 · management and general $53,936

  • 9 · Other employee benefits

    total $3,857,891 · program services $3,086,313 · management and general $771,578

  • 10 · Payroll taxes

    total $1,209,943 · program services $967,954 · management and general $241,989

  • 11b · Fees: legal

    total $51,605 · management and general $51,605

  • 11c · Fees: accounting

    total $82,700 · management and general $82,700

  • 11g · Fees: other

    total $3,123,969 · program services $338,251 · management and general $2,785,718

  • 12 · Advertising and promotion

    total $128,007 · program services $104,966 · management and general $23,041

  • 13 · Office expenses

    total $582,656 · program services $362,705 · management and general $219,951

  • 14 · Information technology

    total $12,165 · program services $9,732 · management and general $2,433

  • 16 · Occupancy

    total $3,860,772 · program services $3,088,618 · management and general $772,154

  • 17 · Travel

    total $13,315 · program services $10,652 · management and general $2,663

  • 19 · Conferences, conventions and meetings

    total $33,737 · program services $26,990 · management and general $6,747

  • 20 · Interest

    total $4,587,415 · program services $3,669,932 · management and general $917,483

  • 22 · Depreciation, depletion and amortization

    total $3,100,332 · program services $2,480,266 · management and general $620,066

  • 23 · Insurance

    total $103,343 · program services $82,674 · management and general $20,669

  • 24a · Other expenses: INSTRUCTIONAL MATERIALS

    total $3,380,157 · program services $3,380,157

  • 24b · Other expenses: REPAIRS AND MAINTENANCE

    total $688,614 · program services $550,891 · management and general $137,723

  • 24c · Other expenses: BUS TRANSPORTATION

    total $388,086 · program services $388,086

  • 24d · Other expenses: EQUIPMENT

    total $132,465 · program services $105,972 · management and general $26,493

  • 24e · All other expenses

    total $179,435 · program services $167,980 · management and general $11,455

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $16,949,831 · end of year $18,680,225

  • 2 · Savings and temporary cash investments

    beginning of year $8,048,343 · end of year $8,886,156

  • 3 · Pledges and grants receivable

    beginning of year $934,455 · end of year $1,756,411

  • 4 · Accounts receivable

    beginning of year $2,784,854 · end of year $2,429,360

  • 9 · Prepaid expenses and deferred charges

    end of year $84,357

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

    $83,074,269

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

    $18,369,648

  • 10c · Land, buildings and equipment, net

    beginning of year $59,172,622 · end of year $64,704,621

  • 15 · Other assets

    beginning of year $9,932,988 · end of year $8,452,512

  • 17 · Accounts payable and accrued expenses

    beginning of year $852,764 · end of year $1,108,504

  • 23 · Secured mortgages and notes payable

    beginning of year $67,051,909 · end of year $66,117,484

  • 25 · Other liabilities

    beginning of year $12,268,535 · end of year $10,629,518

  • 27 · Net assets without donor restrictions

    beginning of year $17,649,885 · end of year $27,138,136

Mission and programs · 2022

Mission

TO ATTAIN EDUCATIONAL EXCELLENCE BY PROVIDING A RIGOROUS AND TECHNOLOGY-INTEGRATED EDUCATION FOR K-12 STUDENTS WITH AN EMPHASIS ON MATHEMATICS, SCIENCE, AND INFORMATION TECHNOLOGIES.

Activities or mission (Part I)

TO PROVIDE A RIGOROUS AND QUALITY EDUCATION FOR KINDERGARTEN THROUGH 12TH GRADE STUDENTS WITH A SPECIAL FOCUS ON MATH, SCIENCE AND TECHNOLOGY.

  • THE PRIMARY PURPOSE OF THE FOUNDATION IS TO OPERATE ONE OR MORE PUBLIC CHARTER SCHOOLS OR OTHER CHOICE SCHOOLS IN THE STATE OF MARYLAND IN ACCORDANCE WITH MARYLAND SENATE BILL 75 OF 2003.

    Expenses $37,661,761 · Revenue $51,922,729

As filed on the 2022 return.

Listed in Part VII

  • ZAYN AK

    CEO

    Total calculated
    $216,379
    From this org
    $181,904
    From related orgs
    $0
    Other
    $34,475
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $181,904
    Bonus
    $0
    Other
    $0
    Deferred
    $12,915
    Nontaxable benefits
    $21,560
    Filer's total
    $216,379

  • ERKAN DERIN

    DIRECTOR OF OPERATIONS

    Total calculated
    $165,776
    From this org
    $134,470
    From related orgs
    $0
    Other
    $31,306
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $134,470
    Bonus
    $0
    Other
    $0
    Deferred
    $9,595
    Nontaxable benefits
    $21,711
    Filer's total
    $165,776

  • TEKIN TUNCER

    DIRECTOR OF ACCOUNTABILITY

    Total calculated
    $164,326
    From this org
    $132,076
    From related orgs
    $0
    Other
    $32,250
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,076
    Bonus
    $0
    Other
    $0
    Deferred
    $9,405
    Nontaxable benefits
    $22,845
    Filer's total
    $164,326

  • AYODOGAN KARABULUT

    DIRECTOR OF IT

    Total calculated
    $162,878
    From this org
    $134,128
    From related orgs
    $0
    Other
    $28,750
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $134,128
    Bonus
    $0
    Other
    $0
    Deferred
    $6,092
    Nontaxable benefits
    $22,658
    Filer's total
    $162,878

  • VEDAT DOGAN

    CFO

    Total calculated
    $156,030
    From this org
    $134,366
    From related orgs
    $0
    Other
    $21,664
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $134,366
    Bonus
    $0
    Other
    $0
    Deferred
    $1,298
    Nontaxable benefits
    $20,366
    Filer's total
    $156,030

  • GLENDA D WASHINGTON

    DIRECTOR OF COMMUNICATIONS

    Total calculated
    $139,806
    From this org
    $139,806
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • TAYYAR MOLLAALIOGLU

    IT MANAGER & SYSTEMS ADMINISTRATOR

    Total calculated
    $103,344
    From this org
    $101,687
    From related orgs
    $0
    Other
    $1,657
    Hours/week
    40

  • FERHAT AVSAR

    DIRECTOR AS OF OCT. 2022

    Total calculated
    $2,640
    From this org
    $2,640
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • DR MUSA SUBASI

    BOARD PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • DR MUSTAFA SEFIK

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • FRANCIS HAWKINS

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • YILDIZ TEBER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • CLAUDIA CHANG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • CATHYANN ANDREWS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • LUTFI ON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • MAJOR PETE SMITH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • DAVID KRAVETS

    CSP BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • VALORIE SANDERS

    CSP BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • YILMAZ AK

    CSP BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • SAHER KHAN

    CSP BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • CHRIS MCGRADY

    CSP BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • SPEAR LANCASTER

    DIRECTOR UNTIL OCT. 2022

    Total calculated
    $0
    Hours/week
    5

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 · Approval by the board or compensation committee

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

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

No itemized grants to organizations on this return.

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.

  • CHESAPEAKE EDUCATION SERVICES LLC

    TO OWN, OPERATE, LEASE, AND MAINTAIN REAL ESTATE AS A PUBLIC CHARTER SCHOOL. · MD · income $6,695,868 · assets $61,376,665

    Directly controlled by CHESAPEAKE LIGHTHOUSE FOUNDATION

  • CHESAPEAKE SCIENCE POINT CHARTER SCHOOL LLC

    TO OPERATE ONE OR MORE CHARTER SCHOOLS IN MARYLAND. · MD · income $8,479,483 · assets $11,657,404

    Directly controlled by CHESAPEAKE LIGHTHOUSE FOUNDATION

Provenance

Return type
form_990
Tax year
2022
Filed
15 January 2024
IRS schema version
2022v5.0
Source object
202440169349300184

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