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← LITERACY FIRST CHARTER SCHOOLS

Form 990 for tax year 2023

Filed by LITERACY FIRST CHARTER SCHOOLS.

Totals

Total revenue
$33,077,578
Total expenses
$29,318,992
Contributions and grants received
$32,087,908
Grants paid
$0
Program service revenue
$499,906
Investment income
$550,084
Other revenue
-$60,320
Total assets, end of year
$41,367,396
Total liabilities, end of year
$18,240,916
Net assets or fund balances, end of year
$23,126,480
Program services expenses (Part IX)
$22,182,773
Management and general expenses
$7,136,219
Fundraising expenses
$0
Program service expenses (Part III)
$22,182,773

Program services were 75.7% 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

    $80,000

  • 1e · Government grants (contributions)

    $32,007,908

  • 2a · Program service revenue: STUDENT ACTIVITIES

    total $499,906 · related or exempt $499,906

  • 3 · Investment income

    total $550,084 · excluded $550,084

  • 8a · Fundraising events: gross income

    $1,303

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

    $80,000

  • 8b · Fundraising events: direct expenses

    $81,303

  • 8c · Net income from fundraising events

    total -$80,000 · excluded -$80,000

  • 11a · Other revenue: BUS TRANSPORTATION FEES

    total $19,680 · related or exempt $19,680

  • 11e · Other revenue, total

    $19,680

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $525,319 · program services $318,976 · management and general $206,343

  • 7 · Other salaries and wages

    total $15,217,990 · program services $11,958,894 · management and general $3,259,096

  • 8 · Pension plan contributions

    total $3,715,690 · program services $2,921,708 · management and general $793,982

  • 9 · Other employee benefits

    total $1,191,967 · program services $956,300 · management and general $235,667

  • 10 · Payroll taxes

    total $774,327 · program services $552,360 · management and general $221,967

  • 11b · Fees: legal

    total $85,332 · management and general $85,332

  • 11c · Fees: accounting

    total $22,101 · management and general $22,101

  • 11g · Fees: other

    total $2,315,807 · program services $2,099,593 · management and general $216,214

  • 12 · Advertising and promotion

    total $90,031 · management and general $90,031

  • 13 · Office expenses

    total $628,743 · program services $482,623 · management and general $146,120

  • 16 · Occupancy

    total $1,489,162 · program services $741,117 · management and general $748,045

  • 17 · Travel

    total $76,950 · program services $76,950

  • 19 · Conferences, conventions and meetings

    total $40,193 · program services $40,193

  • 20 · Interest

    total $486,481 · program services $484,619 · management and general $1,862

  • 22 · Depreciation, depletion and amortization

    total $701,806 · program services $363,398 · management and general $338,408

  • 23 · Insurance

    total $264,664 · program services $380 · management and general $264,284

  • 24a · Other expenses: BOOKS AND SUPPLIES

    total $1,448,382 · program services $1,185,662 · management and general $262,720

  • 24b · Other expenses: CHARTER AUTHORIZER FEES

    total $244,047 · management and general $244,047

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $69,729 · end of year $69,729

  • 2 · Savings and temporary cash investments

    beginning of year $16,142,518 · end of year $19,073,734

  • 4 · Accounts receivable

    beginning of year $1,828,664 · end of year $2,026,098

  • 9 · Prepaid expenses and deferred charges

    beginning of year $658,851 · end of year $1,064,903

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

    $22,355,484

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

    $5,518,930

  • 10c · Land, buildings and equipment, net

    beginning of year $16,520,550 · end of year $16,836,554

  • 15 · Other assets

    beginning of year $3,167,379 · end of year $2,296,378

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,507,036 · end of year $4,952,756

  • 19 · Deferred revenue

    beginning of year $3,237,279 · end of year $69,071

  • 20 · Tax-exempt bond liabilities

    beginning of year $7,450,000 · end of year $7,450,000

  • 23 · Secured mortgages and notes payable

    beginning of year $2,550,000 · end of year $2,320,000

  • 25 · Other liabilities

    beginning of year $4,388,944 · end of year $3,449,089

  • 27 · Net assets without donor restrictions

    beginning of year $19,254,432 · end of year $23,126,480

Mission and programs · 2023

Mission

LITERACY FIRST CHARTER SCHOOLS EXISTS TO NURTURE THE WHOLE CHILD FROM KINDERGARTEN THROUGH HIGH SCHOOL GRADUATION BY IGNITING A PASSION FOR COMPREHENSIVE LITERACY AND EQUIPPING EACH CHILD TO WHOLEHEARTEDLY PARTICIPATE IN THEIR COMMUNITY.

Activities or mission (Part I)

OPERATION OF A PUBLIC CHARTER SCHOOL SERVING STUDENTS IN KINDERGARTEN THROUGH TWELFTH GRADE.

  • OPERATION OF A PUBLIC CHARTER SCHOOL SERVING STUDENTS IN GRADES K TO 12: LITERACY FIRST VIEWS EDUCATION AS A PROCESS, NOT A PRODUCT, WHICH ENABLES STUDENTS TO GO FROM LEARNING TO READ, TO READING TO LEARN. LFCS DESIRES TO SHAPE LITERATE, LIFE-LONG LEARNERS, INDEPENDENT THINKERS, TECHNOLOGICALLY LITERATE CITIZENS, ENTHUSIASTIC AND HIGHLY QUALIFIED TEACHERS, RELIABLE ASSESSMENTS THAT PROVIDE STUDENTS A PRODUCTIVE EDUCATIONAL EXPERIENCE, ASPIRING LEADERS WHO POSITIVELY IMPACT THEIR COMMUNITY, COMMUNITY THAT UNDERSTANDS AND SUPPORTS THE MISSION OF LFCS.

    Expenses $22,182,773 · Revenue $519,586

As filed on the 2023 return.

Listed in Part VII

  • Priscilla Schreiber

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Katina Evans

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Jason Lewis

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Barbara Johnson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mathew Simone

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Debbie Beyer

    EXECUTIVE DIRECTOR

    Total calculated
    $413,086
    From this org
    $337,819
    From related orgs
    $0
    Other
    $75,267
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $316,841
    Bonus
    $20,978
    Other
    $0
    Deferred
    $64,186
    Nontaxable benefits
    $11,081
    Filer's total
    $413,086

  • Steve Robinson

    FINANCIAL OFFICER

    Total calculated
    $241,756
    From this org
    $186,258
    From related orgs
    $0
    Other
    $55,498
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $173,773
    Bonus
    $12,485
    Other
    $0
    Deferred
    $35,389
    Nontaxable benefits
    $20,109
    Filer's total
    $241,756

  • Jamie Robinson

    ASSISTANT PRINCIPAL

    Total calculated
    $215,175
    From this org
    $180,819
    From related orgs
    $0
    Other
    $34,356
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $168,853
    Bonus
    $11,966
    Other
    $0
    Deferred
    $34,356
    Nontaxable benefits
    $0
    Filer's total
    $215,175

  • Victor Kempsey

    DEAN OF STUDENTS

    Total calculated
    $187,123
    From this org
    $157,246
    From related orgs
    $0
    Other
    $29,877
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,263
    Bonus
    $8,983
    Other
    $0
    Deferred
    $29,877
    Nontaxable benefits
    $0
    Filer's total
    $187,123

  • Justin Stinson

    ASSISTANT PRINCIPAL

    Total calculated
    $157,246
    From this org
    $157,246
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $149,653
    Bonus
    $7,593
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $157,246

  • Linn Dunton

    ATHLETIC DIRECTOR

    Total calculated
    $195,295
    From this org
    $158,395
    From related orgs
    $0
    Other
    $36,900
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,571
    Bonus
    $6,824
    Other
    $0
    Deferred
    $30,095
    Nontaxable benefits
    $6,805
    Filer's total
    $195,295

  • Troy Beyer

    SPED ADMINISTRATOR

    Total calculated
    $205,115
    From this org
    $151,418
    From related orgs
    $0
    Other
    $53,697
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $142,051
    Bonus
    $8,367
    Other
    $1,000
    Deferred
    $39,407
    Nontaxable benefits
    $14,290
    Filer's total
    $205,115

  • Gail Stroben

    ASSISTANT PRINCIPAL

    Total calculated
    $183,599
    From this org
    $147,103
    From related orgs
    $0
    Other
    $36,496
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $137,731
    Bonus
    $9,372
    Other
    $0
    Deferred
    $27,950
    Nontaxable benefits
    $8,546
    Filer's total
    $183,599

  • Daniel Sanchez

    VICE PRINCIPAL OF STUDENT

    Total calculated
    $195,043
    From this org
    $147,003
    From related orgs
    $0
    Other
    $48,040
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,841
    Bonus
    $7,442
    Other
    $3,720
    Deferred
    $27,931
    Nontaxable benefits
    $20,109
    Filer's total
    $195,043

  • Stacey Harrell

    TEACHER

    Total calculated
    $185,194
    From this org
    $149,368
    From related orgs
    $0
    Other
    $35,826
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,947
    Bonus
    $2,821
    Other
    $600
    Deferred
    $28,380
    Nontaxable benefits
    $7,446
    Filer's total
    $185,194

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 · Written employment contract
  • 3 · Compensation survey or study
  • 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.

Provenance

Return type
form_990
Tax year
2023
Filed
13 May 2025
IRS schema version
2023v6.0
Source object
202511349349309656

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