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← 22BEACON INC

Form 990 for tax year 2024

Filed by 22BEACON INC.

Totals

Total revenue
$14,571,903
Total expenses
$12,643,402
Contributions and grants received
$5,644,940
Grants paid
$32,500
Program service revenue
$6,295,963
Investment income
$2,631,000
Other revenue
$0
Total assets, end of year
$182,564,501
Total liabilities, end of year
$91,059,699
Net assets or fund balances, end of year
$91,504,802
Program services expenses (Part IX)
$9,119,925
Management and general expenses
$3,523,477
Fundraising expenses
$0
Program service expenses (Part III)
$9,119,925

Program services were 72.1% 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.

  • 1d · Related organizations

    $5,342,940

  • 1f · All other contributions, gifts and grants

    $302,000

  • 2a · Program service revenue: CAPITAL LEASE INTEREST

    total $4,514,361 · related or exempt $4,514,361

  • 2b · Program service revenue: RENTAL INCOME

    total $818,216 · related or exempt $818,216

  • 2c · Program service revenue: DEVELOPER'S FEES

    total $743,250 · related or exempt $743,250

  • 2d · Program service revenue: LOAN ORIGINATION FEE INCOME

    total $141,425 · related or exempt $141,425

  • 2e · Program service revenue: CREDIT ENHANCEMENT FEES

    total $78,711 · related or exempt $78,711

  • 3 · Investment income

    total $1,386,514 · excluded $1,386,514

  • 7a · Gross sales of assets other than inventory

    other assets $1,244,486

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

    other assets $0

  • 7c · Gain or loss

    other assets $1,244,486

  • 7d · Net gain or loss

    total $1,244,486 · excluded $1,244,486

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $32,500 · program services $32,500

  • 5 · Compensation of officers, directors and key employees

    total $2,420,599 · program services $1,470,877 · management and general $949,722

  • 7 · Other salaries and wages

    total $2,038,737 · program services $874,264 · management and general $1,164,473

  • 8 · Pension plan contributions

    total $151,749 · program services $70,709 · management and general $81,040

  • 9 · Other employee benefits

    total $337,914 · program services $179,120 · management and general $158,794

  • 10 · Payroll taxes

    total $239,968 · program services $128,536 · management and general $111,432

  • 11b · Fees: legal

    total $111,502 · management and general $111,502

  • 11c · Fees: accounting

    total $190,925 · management and general $190,925

  • 11g · Fees: other

    total $813,524 · program services $725,368 · management and general $88,156

  • 12 · Advertising and promotion

    total $265,566 · program services $132,783 · management and general $132,783

  • 13 · Office expenses

    total $79,805 · program services $20,247 · management and general $59,558

  • 14 · Information technology

    total $319,395 · program services $111,788 · management and general $207,607

  • 16 · Occupancy

    total $250,024 · program services $141,937 · management and general $108,087

  • 17 · Travel

    total $340,922 · program services $240,848 · management and general $100,074

  • 20 · Interest

    total $3,908,941 · program services $3,908,941

  • 22 · Depreciation, depletion and amortization

    total $290,921 · program services $288,012 · management and general $2,909

  • 23 · Insurance

    total $85,905 · program services $64,429 · management and general $21,476

  • 24a · Other expenses: PROVISION FOR CREDIT LO

    total $444,000 · program services $444,000

  • 24b · Other expenses: LOANS AND FEES

    total $274,728 · program services $274,728

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $20,585 · management and general $20,585

  • 24d · Other expenses: REPRESENTATION FEES

    total $13,548 · program services $10,838 · management and general $2,710

  • 24e · All other expenses

    total $11,644 · management and general $11,644

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $62,626,829 · end of year $53,459,665

  • 2 · Savings and temporary cash investments

    beginning of year $28,841,071 · end of year $31,791,151

  • 4 · Accounts receivable

    beginning of year $445,015 · end of year $987,453

  • 7 · Other notes and loans receivable

    beginning of year $52,076,498 · end of year $81,720,597

  • 9 · Prepaid expenses and deferred charges

    beginning of year $52,041 · end of year $128,553

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

    $8,634,935

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

    $3,114,829

  • 10c · Land, buildings and equipment, net

    beginning of year $5,709,216 · end of year $5,520,106

  • 14 · Intangible assets

    beginning of year $6,943 · end of year $188,796

  • 15 · Other assets

    beginning of year $4,080,537 · end of year $8,768,180

  • 17 · Accounts payable and accrued expenses

    beginning of year $753,251 · end of year $850,136

  • 19 · Deferred revenue

    beginning of year $181,196 · end of year $266,621

  • 23 · Secured mortgages and notes payable

    beginning of year $61,307,915 · end of year $81,746,285

  • 24 · Unsecured notes and loans payable

    beginning of year $1,235,483 · end of year $6,556,420

  • 25 · Other liabilities

    beginning of year $784,004 · end of year $1,640,237

  • 27 · Net assets without donor restrictions

    beginning of year $18,222,473 · end of year $19,772,562

  • 28 · Net assets with donor restrictions

    beginning of year $71,353,828 · end of year $71,732,240

Mission and programs · 2024

Mission

CSDC IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) ESTABLISHED TO ASSIST PUBLIC CHARTER SCHOOLS IN THE ACQUISITION AND FINANCING OF EDUCATIONAL FACILITIES AND RELATED CAPITAL IMPROVEMENTS.

Activities or mission (Part I)

FINANCING AND BUILDING GREAT PUBLIC CHARTER SCHOOLS.

  • PROVIDING LOANS, CREDIT ENHANCEMENTS, FINANCING GUARANTEES, FACILITY DEVELOPMENT AND MANAGEMENT SUPPORT TO CHARTER SCHOOLS.

    Expenses $9,119,925 · Grants $32,500 · Revenue $6,295,963

As filed on the 2024 return.

Listed in Part VII

  • MICHAEL CURRAN

    CHAIR

    Total calculated
    $14,950
    From this org
    $14,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 4 related

  • EMBER REICHGOTT JUNGE

    VICE CHAIR

    Total calculated
    $11,500
    From this org
    $11,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 4 related

  • LANETTE DAILEY-REESE

    DIRECTOR & SECRETARY

    Total calculated
    $12,650
    From this org
    $12,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 2 related

  • ELISEO VALDEZ

    DIRECTOR & TREASURER

    Total calculated
    $10,925
    From this org
    $10,925
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 2 related

  • CHRISTINA RYAN DIGIULIAN

    DIRECTOR

    Total calculated
    $9,775
    From this org
    $9,775
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 2 related

  • JAY HROMATKA

    DIRECTOR

    Total calculated
    $8,625
    From this org
    $8,625
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 4 related

  • TOM NIDA

    DIRECTOR

    Total calculated
    $12,650
    From this org
    $12,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 2 related

  • JIM GOENNER

    DIRECTOR

    Total calculated
    $6,900
    From this org
    $6,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 4 related

  • ALAN WASHINGTON

    PRESIDENT & CEO

    Total calculated
    $620,814
    From this org
    $582,900
    From related orgs
    $0
    Other
    $37,914
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $448,775
    Bonus
    $130,500
    Other
    $3,625
    Deferred
    $27,600
    Nontaxable benefits
    $10,314
    Filer's total
    $620,814

  • MICHELLE PROSPERI

    CHIEF OPERATING OFFICER

    Total calculated
    $443,530
    From this org
    $376,654
    From related orgs
    $0
    Other
    $66,876
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $275,600
    Bonus
    $101,054
    Other
    $0
    Deferred
    $27,600
    Nontaxable benefits
    $39,276
    Filer's total
    $443,530

  • LAURA FIEMANN

    SVP, DEVELOPMENT

    Total calculated
    $411,421
    From this org
    $351,070
    From related orgs
    $0
    Other
    $60,351
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $256,880
    Bonus
    $94,190
    Other
    $0
    Deferred
    $27,600
    Nontaxable benefits
    $32,751
    Filer's total
    $411,421

  • REBECCA SALVO

    SVP, REAL ESTATE DEVELOPMENT

    Total calculated
    $300,644
    From this org
    $266,916
    From related orgs
    $0
    Other
    $33,728
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $194,652
    Bonus
    $72,264
    Other
    $0
    Deferred
    $21,353
    Nontaxable benefits
    $12,375
    Filer's total
    $300,644

  • MARK ZEIZEL

    SVP, REAL ESTATE INVESTMENTS & STRATEGY

    Total calculated
    $299,681
    From this org
    $248,214
    From related orgs
    $0
    Other
    $51,467
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $181,150
    Bonus
    $67,064
    Other
    $0
    Deferred
    $19,857
    Nontaxable benefits
    $31,610
    Filer's total
    $299,681

  • GLENN KLEIN

    VP, ACCOUNTING

    Total calculated
    $256,534
    From this org
    $201,167
    From related orgs
    $0
    Other
    $55,367
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $170,000
    Bonus
    $31,167
    Other
    $0
    Deferred
    $16,093
    Nontaxable benefits
    $39,274
    Filer's total
    $256,534

  • MICHELE CERWIN

    CHIEF OF STAFF

    Total calculated
    $392,263
    From this org
    $324,683
    From related orgs
    $0
    Other
    $67,580
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $253,000
    Bonus
    $71,683
    Other
    $0
    Deferred
    $25,975
    Nontaxable benefits
    $41,605
    Filer's total
    $392,263

  • NAGESH TAMMARA

    VP, LEGAL AFFAIRS, LEGAL COUNSEL

    Total calculated
    $218,147
    From this org
    $193,768
    From related orgs
    $0
    Other
    $24,379
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $171,075
    Bonus
    $22,693
    Other
    $0
    Deferred
    $15,385
    Nontaxable benefits
    $8,994
    Filer's total
    $218,147

  • VARISSARA ASSAKUL

    SR. FINANCIAL & INVESTMENT ANALYST, REAL ESTATE

    Total calculated
    $184,427
    From this org
    $162,180
    From related orgs
    $0
    Other
    $22,247
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $143,100
    Bonus
    $19,080
    Other
    $0
    Deferred
    $12,974
    Nontaxable benefits
    $9,273
    Filer's total
    $184,427

  • SHANTA BACON

    ACCOUNTING MANAGER

    Total calculated
    $179,492
    From this org
    $137,852
    From related orgs
    $0
    Other
    $41,640
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $114,400
    Bonus
    $23,452
    Other
    $0
    Deferred
    $11,028
    Nontaxable benefits
    $30,612
    Filer's total
    $179,492

  • BRITTANY KOZLEWSKI

    BUSINESS ANALYST

    Total calculated
    $154,393
    From this org
    $134,498
    From related orgs
    $0
    Other
    $19,895
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $109,200
    Bonus
    $25,298
    Other
    $0
    Deferred
    $10,760
    Nontaxable benefits
    $9,135
    Filer's total
    $154,393

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 · 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

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.

  • 22BEACON FACILITIES CORPORATION

    501(C)(3) · FINANCING, DEVELOPMENT AND MANAGEMENT OF CHARTER SCHOOL FACILITIES · DC · controlled entity

    Directly controlled by 22BEACON

  • 22BEACON PROPERTY CORPORATION

    501(C)(4) · FOSTER THE COMMON GOOD AND GENERAL WELFARE OF THE AMERICAN PUBLIC · AZ · controlled entity

    Directly controlled by 22BEACON

Provenance

Return type
form_990
Tax year
2024
Filed
17 November 2025
IRS schema version
2024v5.2
Source object
202543219349313504

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