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Nonprofiteer
← INNER CITY EDUCATION FAMILY

Form 990 for tax year 2023

Filed by INNER CITY EDUCATION FAMILY.

Totals

Total revenue
$2,521,155
Total expenses
$2,369,573
Contributions and grants received
$12,404
Grants paid
$0
Program service revenue
$2,354,395
Investment income
$62,009
Other revenue
$92,347
Total assets, end of year
$27,206,273
Total liabilities, end of year
$27,793,018
Net assets or fund balances, end of year
-$586,745
Program services expenses (Part IX)
$2,369,573
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$2,369,573

Program services were 100.0% 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.

  • 1f · All other contributions, gifts and grants

    $12,404

  • 2a · Program service revenue: RENTAL INCOME

    total $2,354,395 · related or exempt $2,354,395

  • 3 · Investment income

    total $62,009 · excluded $62,009

  • 11a · Other revenue: WRITE OFFS

    total $92,347 · excluded $92,347

  • 11e · Other revenue, total

    $92,347

Functional expenses

Part IX, the statement of functional expenses.

  • 13 · Office expenses

    total $6,076 · program services $6,076

  • 20 · Interest

    total $1,690,694 · program services $1,690,694

  • 22 · Depreciation, depletion and amortization

    total $610,172 · program services $610,172

  • 24a · Other expenses: OTHER EXPENSES

    total $62,631 · program services $62,631

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $905,002 · end of year $91,620

  • 2 · Savings and temporary cash investments

    beginning of year $985,699 · end of year $2,082,777

  • 4 · Accounts receivable

    beginning of year $45,827 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,905 · end of year $2,442

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

    $29,735,129

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

    $5,105,875

  • 10c · Land, buildings and equipment, net

    beginning of year $25,190,873 · end of year $24,629,254

  • 15 · Other assets

    beginning of year $400,959 · end of year $400,180

  • 17 · Accounts payable and accrued expenses

    beginning of year $73,876 · end of year $8,347

  • 20 · Tax-exempt bond liabilities

    beginning of year $26,154,981 · end of year $25,762,585

  • 25 · Other liabilities

    beginning of year $2,043,735 · end of year $2,022,086

  • 27 · Net assets without donor restrictions

    beginning of year -$738,327 · end of year -$586,745

Mission and programs · 2023

Mission

THE PRIMARY PURPOSES OF THE CORPORATION ARE TO FACILITATE THE DEVELOPMENT AND OPERATION OF PUBLIC CHARTER SCHOOLS BY INNER CITY EDUCATION FOUNDATION, A CALIFORNIA NONPROFIT PUBLIC BENEFIT CORPORATION, AND SUCH OTHER NONPROFIT ORGANIZATIONS.

Activities or mission (Part I)

FACILITATE THE DEVELOPMENT AND OPERATIONS OF INNER CITY EDUCATION FOUNDATION.

  • THE PRIMARY PURPOSES OF THE CORPORATION IS TO FACILITATE THE DEVELOPMENT AND OPERATION OF PUBLIC CHARTER SCHOOLS BY INNER CITY EDUCATION FOUNDATION, A CALIFORNIA NONPROFIT PUBLIC BENEFIT CORPORATION, WHO OPERATES 7 CHARTER SCHOOLS LOCATED IN NEIGHBORHOODS WITH LOW PERFORMING TRADITIONAL SCHOOLS IN LOS ANGELES, AND FOR SUCH OTHER NONPROFIT ORGANIZATIONS.

    Expenses $2,369,573 · Revenue $2,354,395

As filed on the 2023 return.

Listed in Part VII

  • Ari Engelberg

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Eli Taban

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Steve Smith

    TREASURER

    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.

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.

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
7 May 2025
IRS schema version
2023v6.0
Source object
202501299349301740

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