Form 990 for tax year 2023
Filed by TEAM ACADEMY CHARTER SCHOOL INC.
Totals
- Total revenue
- $177,408,917
- Total expenses
- $164,995,637
- Contributions and grants received
- $175,803,982
- Grants paid
- $0
- Program service revenue
- $111,222
- Investment income
- $1,493,713
- Other revenue
- $0
- Total assets, end of year
- $269,406,142
- Total liabilities, end of year
- $234,262,975
- Net assets or fund balances, end of year
- $35,143,167
- Program services expenses (Part IX)
- $129,293,034
- Management and general expenses
- $34,776,571
- Fundraising expenses
- $926,032
- Program service expenses (Part III)
- $129,293,034
Program services were 78.4% 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.
-
1e · Government grants (contributions)
$170,644,178
-
1f · All other contributions, gifts and grants
$5,159,804
-
2a · Program service revenue: FOOD SERVICE
total $111,222 · related or exempt $111,222
-
3 · Investment income
total $1,493,713 · excluded $1,493,713
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $67,883,526 · program services $59,311,011 · management and general $8,572,515
-
8 · Pension plan contributions
total $7,378,942 · program services $6,447,109 · management and general $931,833
-
9 · Other employee benefits
total $6,823,068 · program services $5,961,433 · management and general $861,635
-
10 · Payroll taxes
total $5,951,729 · program services $5,200,129 · management and general $751,600
-
11b · Fees: legal
total $101,215 · management and general $101,215
-
11c · Fees: accounting
total $89,750 · management and general $89,750
-
11g · Fees: other
total $18,952,859 · program services $557,940 · management and general $17,468,887 · fundraising $926,032
-
16 · Occupancy
total $3,044,365 · program services $2,659,914 · management and general $384,451
-
20 · Interest
total $6,053,268 · program services $5,288,845 · management and general $764,423
-
22 · Depreciation, depletion and amortization
total $8,931,487 · program services $7,803,595 · management and general $1,127,892
-
23 · Insurance
total $945,491 · program services $826,092 · management and general $119,399
-
24a · Other expenses: TPAF EXPENSES
total $16,256,082 · program services $14,203,220 · management and general $2,052,862
-
24b · Other expenses: SUPPLIES
total $10,480,725 · program services $8,930,616 · management and general $1,550,109
-
24c · Other expenses: OTHER PURCHASED SERVICE
total $6,123,817 · program services $6,123,817
-
24d · Other expenses: FOOD SERVICE
total $5,979,313 · program services $5,979,313
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $27,481,619 · end of year $33,384,470
-
3 · Pledges and grants receivable
beginning of year $11,395,438 · end of year $13,535,763
-
9 · Prepaid expenses and deferred charges
beginning of year $1,351,972 · end of year $912,820
-
10a · Land, buildings and equipment: cost or other basis
$31,400,226
-
10b · Land, buildings and equipment: accumulated depreciation
$7,439,817
-
10c · Land, buildings and equipment, net
beginning of year $23,630,620 · end of year $23,960,409
-
11 · Investments: publicly traded securities
end of year $14,452,160
-
15 · Other assets
beginning of year $180,974,454 · end of year $183,160,520
-
17 · Accounts payable and accrued expenses
beginning of year $7,315,870 · end of year $6,034,103
-
19 · Deferred revenue
end of year $865,502
-
23 · Secured mortgages and notes payable
beginning of year $21,114,999 · end of year $16,781,154
-
25 · Other liabilities
beginning of year $193,673,347 · end of year $210,582,216
-
29 · Capital stock, trust principal or current funds
beginning of year $28,304,579 · end of year $39,975,417
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year -$5,574,692 · end of year -$4,832,250
-
31 · Retained earnings, endowment or other funds
beginning of year $0 · end of year $0
Mission and programs · 2023
Mission
THE TEAM ACADEMY CHARTER SCHOOL IS A NEW JERSEY PUBLIC SCHOOL OVERSEEN BY THE STATE OF NEW JERSEY DEPARTMENT OF EDUCATION. THE SCHOOL OFFERS AN ACADEMIC PROGRAM TO ASSIST CHILDREN IN DISCOVERING THEIR TALENTS AND PROVIDES A COMMUNITY RESOURCE AND A MEANS TO UNITE PARENTS AND TEACHERS.
Activities or mission (Part I)
TEAM ACADEMY CHARTER SCHOOL IS A FREE, OPEN ENROLLMENT, COLLEGE-PREPARATORY PUBLIC SCHOOL DEDICATED TO PREPARING STUDENTS IN UNDERSERVED COMMUNITIES FOR SUCCESS IN COLLEGE AND LIFE.
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THE TEAM ACADEMY CHARTER SCHOOL IS A NEW JERSEY PUBLIC SCHOOL OVERSEEN BY THE STATE OF NEW JERSEY DEPARTMENT OF EDUCATION. THE SCHOOL OFFERS AN ACADEMIC PROGRAM TO ASSIST CHILDREN IN DISCOVERING THEIR TALENTS AND PROVIDES A COMMUNITY RESOURCE AND A MEANS TO UNITE PARENTS AND TEACHERS.
Expenses $129,293,034 · Revenue $111,222
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Tim CardenTIM CARDEN
BOARD PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
Julie KeenanJULIE KEENAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Kevin MorrisonKEVIN MORRISON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Rasheen PeppersRASHEEN PEPPERS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Vince MarignaVINCE MARIGNA
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Ihsaan BrownIHSAAN BROWN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Tafshier CosbyTAFSHIER COSBY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Karen Leach-ToomerKAREN LEACH-TOOMER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Joanna BelcherJOANNA BELCHER
EXECUTIVE DIRECTOR
- Total calculated
- $0
- Hours/week
- 40
-
Steve SmallSTEVE SMALL
CFO
- Total calculated
- $0
- Hours/week
- 20
-
Kyle MeachamKYLE MEACHAM
MANAGING DIRECTOR
- Total calculated
- $212,572
- From this org
- $200,874
- From related orgs
- $0
- Other
- $11,698
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $200,874
- Bonus
- $0
- Other
- $0
- Deferred
- $1,200
- Nontaxable benefits
- $10,498
- Filer's total
- $212,572
-
Jenna MarcusJENNA MARCUS
HEAD OF SCHOOLS
- Total calculated
- $216,985
- From this org
- $184,980
- From related orgs
- $0
- Other
- $32,005
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $184,980
- Bonus
- $0
- Other
- $0
- Deferred
- $1,500
- Nontaxable benefits
- $30,505
- Filer's total
- $216,985
-
Lisa BonnifieldLISA BONNIFIELD
HEAD OF SCHOOLS
- Total calculated
- $204,139
- From this org
- $172,434
- From related orgs
- $0
- Other
- $31,705
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $172,434
- Bonus
- $0
- Other
- $0
- Deferred
- $1,200
- Nontaxable benefits
- $30,505
- Filer's total
- $204,139
-
Jeffrey WeberJEFFREY WEBER
MANAGING DIRECTOR OF OPERATIONS
- Total calculated
- $185,379
- From this org
- $153,374
- From related orgs
- $0
- Other
- $32,005
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $153,374
- Bonus
- $0
- Other
- $0
- Deferred
- $1,500
- Nontaxable benefits
- $30,505
- Filer's total
- $185,379
-
Kara BrockettKARA BROCKETT
MANAGING DIRECTOR
- Total calculated
- $184,064
- From this org
- $152,059
- From related orgs
- $0
- Other
- $32,005
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $152,059
- Bonus
- $0
- Other
- $0
- Deferred
- $1,500
- Nontaxable benefits
- $30,505
- Filer's total
- $184,064
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.
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.
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KINGSTON EDUCATIONAL HOLDINGS 1 INC
501(C)(3) · SCHOOL REAL ESTATE · NJ
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 7 May 2025
- IRS schema version
- 2023v6.0
- Source object
- 202511299349300916
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