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Nonprofiteer
← NEW FOUNDATIONS CHARTER SCHOOL

Form 990 for tax year 2022

Filed by NEW FOUNDATIONS CHARTER SCHOOL.

Totals

Total revenue
$28,862,542
Total expenses
$28,325,537
Contributions and grants received
$9,443,803
Grants paid
$0
Program service revenue
$19,237,345
Investment income
$88,736
Other revenue
$92,658
Total assets, end of year
$40,604,482
Total liabilities, end of year
$42,073,334
Net assets or fund balances, end of year
-$1,468,852
Program services expenses (Part IX)
$19,104,846
Management and general expenses
$9,220,691
Fundraising expenses
$0
Program service expenses (Part III)
$19,104,846

Program services were 67.4% 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

    $26,400

  • 1e · Government grants (contributions)

    $9,319,116

  • 1f · All other contributions, gifts and grants

    $98,287

  • 1g · Noncash contributions included above

    $42,024

  • 2a · Program service revenue: SCHOOL DISTRICT DIRECT SUBSIDY

    total $18,631,222 · related or exempt $18,631,222

  • 2b · Program service revenue: FOOD SERVICE

    total $536,550 · related or exempt $536,550

  • 2c · Program service revenue: CHILD CARE FEES

    total $69,573 · related or exempt $69,573

  • 3 · Investment income

    total $88,736 · excluded $88,736

  • 8a · Fundraising events: gross income

    $4,400

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

    $26,400

  • 8b · Fundraising events: direct expenses

    $16,503

  • 8c · Net income from fundraising events

    total -$12,103 · excluded -$12,103

  • 11a · Other revenue: MISCELLANEOUS

    total $104,761 · excluded $104,761

  • 11e · Other revenue, total

    $104,761

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $283,865 · management and general $283,865

  • 7 · Other salaries and wages

    total $12,752,729 · program services $10,987,024 · management and general $1,765,705

  • 8 · Pension plan contributions

    total $1,472,302 · program services $1,324,169 · management and general $148,133

  • 9 · Other employee benefits

    total $2,591,221 · program services $2,383,573 · management and general $207,648

  • 10 · Payroll taxes

    total $1,010,565 · program services $879,486 · management and general $131,079

  • 11b · Fees: legal

    total $339,959 · management and general $339,959

  • 11c · Fees: accounting

    total $38,782 · management and general $38,782

  • 11g · Fees: other

    total $2,102,671 · management and general $2,102,671

  • 12 · Advertising and promotion

    total $30,313 · management and general $30,313

  • 13 · Office expenses

    total $1,088,124 · program services $521,861 · management and general $566,263

  • 14 · Information technology

    total $854,442 · management and general $854,442

  • 16 · Occupancy

    total $2,518,578 · program services $711,510 · management and general $1,807,068

  • 17 · Travel

    total $67,970 · program services $15,774 · management and general $52,196

  • 19 · Conferences, conventions and meetings

    total $32,479 · program services $32,479

  • 22 · Depreciation, depletion and amortization

    total $462,443 · program services $184,597 · management and general $277,846

  • 24a · Other expenses: EQUIPMENT

    total $1,099,030 · program services $500,812 · management and general $598,218

  • 24b · Other expenses: TUITION APS

    total $620,669 · program services $620,669

  • 24c · Other expenses: FOOD SERVICE

    total $609,755 · program services $609,755

  • 24d · Other expenses: BOOKS

    total $242,858 · program services $242,858

  • 24e · All other expenses

    total $106,782 · program services $90,279 · management and general $16,503

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,081,381 · end of year $2,597,437

  • 2 · Savings and temporary cash investments

    beginning of year $12,856,128 · end of year $7,603,097

  • 3 · Pledges and grants receivable

    beginning of year $1,655,924 · end of year $4,037,574

  • 8 · Inventories for sale or use

    end of year $224,525

  • 9 · Prepaid expenses and deferred charges

    beginning of year $946,362 · end of year $624,593

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

    $4,463,983

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

    $1,232,062

  • 10c · Land, buildings and equipment, net

    beginning of year $1,651,953 · end of year $3,231,921

  • 15 · Other assets

    beginning of year $23,411,564 · end of year $22,285,335

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,648,555 · end of year $2,950,916

  • 19 · Deferred revenue

    beginning of year $535,190 · end of year $64,297

  • 25 · Other liabilities

    beginning of year $40,425,424 · end of year $39,058,121

  • 27 · Net assets without donor restrictions

    beginning of year -$1,921,709 · end of year -$2,231,628

  • 28 · Net assets with donor restrictions

    beginning of year -$84,148 · end of year $762,776

Mission and programs · 2022

Mission

THE MISSION IS TO PROVIDE STUDENTS WITH THE ACADEMIC, SOCIAL AND EMOTIONAL FOUNDATIONS AND SKILLS NECESSARY TO BECOME HIGH ACHIEVING, SOCIALLY COMPETENT STEWARDS OF THEIR COMMUNITIES. THE FOUNDERS OF THE NEW FOUNDATIONS CHARTER SCHOOL WILL ENSURE A COMMITMENT TO LIFELONG LEARNING AND ACHIEVEMENT OF ALL OUR STUDENTS BY CREATING AN ATMOSPHERE OF CARING THAT PREVADES EVERY ASPECT OF SCHOOL LIFE, AND PROMOTES ATTACHMENT TO AND RESPONSIBILITY FOR ALL MEMBERS OF OUR SCHOOL COMMUNITY.

Activities or mission (Part I)

THE MISSION IS TO PROVIDE STUDENTS WITH THE ACADEMIC, SOCIAL AND EMOTIONAL FOUNDATIONS AND SKILLS NECESSARY TO BECOME HIGH ACHIEVING, SOCIALLY COMPETENT STEWARDS OF THEIR COMMUNITIES. THE FOUNDERS OF THE NEW FOUNDATIONS CHARTER SCHOOL WILL ENSURE A COMMITMENT TO LIFELONG LEARNING AND ACHIEVEMENT OF ALL OUR STUDENTS BY CREATING AN ATMOSPHERE OF CARING THAT PERVADES EVERY ASPECT OF SCHOOL LIFE, AND PROMOTES ATTACHMENT TO AND RESPONSIBILITY FOR ALL MEMBERS OF OUR SCHOOL COMMUNITY.

  • CHARTER SCHOOL PROVIDING EDUCATION INSTRUCTION TO STUDENTS IN THE CITY OF PHILADELPHIA SERVING GRADES K-12.

    Expenses $19,104,846 · Revenue $19,237,345

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

Listed in Part VII

  • David Lambie

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Kisha Thompson

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Karen Bowman

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Thomas Shirley

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Cindy Carey

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Max Matthews

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Lizette Olmeda

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Sheryl Perzel

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Christopher Zagacki

    CEO

    Total calculated
    $187,169
    From this org
    $97,719
    From related orgs
    $0
    Other
    $89,450
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $97,719
    Bonus
    $0
    Other
    $0
    Deferred
    $62,754
    Nontaxable benefits
    $26,696
    Filer's total
    $187,169

  • Frances Daly

    PRINCIPAL

    Total calculated
    $175,024
    From this org
    $130,161
    From related orgs
    $0
    Other
    $44,863
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $130,161
    Bonus
    $0
    Other
    $0
    Deferred
    $44,863
    Nontaxable benefits
    $0
    Filer's total
    $175,024

  • Sarnetta Sumner

    VICE PRINCIPAL

    Total calculated
    $170,410
    From this org
    $105,988
    From related orgs
    $0
    Other
    $64,422
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $105,988
    Bonus
    $0
    Other
    $0
    Deferred
    $37,726
    Nontaxable benefits
    $26,696
    Filer's total
    $170,410

  • Joseph Spera

    DIRECTOR OF ATHLETICS & AC

    Total calculated
    $158,483
    From this org
    $110,708
    From related orgs
    $0
    Other
    $47,775
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $110,708
    Bonus
    $0
    Other
    $0
    Deferred
    $38,636
    Nontaxable benefits
    $9,139
    Filer's total
    $158,483

  • Christian Laurence

    DIRECTOR OF SPECIAL ED

    Total calculated
    $168,654
    From this org
    $105,114
    From related orgs
    $0
    Other
    $63,540
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $105,114
    Bonus
    $0
    Other
    $0
    Deferred
    $36,844
    Nontaxable benefits
    $26,696
    Filer's total
    $168,654

  • Rachel Sandhaus

    MUSIC TEACHER

    Total calculated
    $165,855
    From this org
    $102,929
    From related orgs
    $0
    Other
    $62,926
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $102,929
    Bonus
    $0
    Other
    $0
    Deferred
    $36,230
    Nontaxable benefits
    $26,696
    Filer's total
    $165,855

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 · Independent compensation consultant
  • 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.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
23 April 2024
IRS schema version
2022v5.0
Source object
202431209349301378

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