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Nonprofiteer
← KIPP COOPER NORCROSS A NEW JERSEY NONPROFIT CORPORATION

Form 990 for tax year 2024

Filed by KIPP COOPER NORCROSS A NEW JERSEY NONPROFIT CORPORATION.

Totals

Total revenue
$74,146,527
Total expenses
$78,113,551
Contributions and grants received
$72,126,309
Grants paid
$0
Program service revenue
$68,001
Investment income
$1,772,217
Other revenue
$180,000
Total assets, end of year
$202,576,178
Total liabilities, end of year
$204,864,889
Net assets or fund balances, end of year
-$2,288,711
Program services expenses (Part IX)
$58,021,220
Management and general expenses
$19,704,584
Fundraising expenses
$387,747
Program service expenses (Part III)
$58,021,220

Program services were 74.3% 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)

    $67,881,478

  • 1f · All other contributions, gifts and grants

    $4,244,831

  • 2a · Program service revenue: FOOD SERVICE

    total $68,001 · related or exempt $68,001

  • 3 · Investment income

    total $1,772,217 · excluded $1,772,217

  • 11a · Other revenue: SUBLEASE INCOME

    total $180,000 · excluded $180,000

  • 11e · Other revenue, total

    $180,000

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $26,738,664 · program services $21,516,719 · management and general $5,221,945

  • 8 · Pension plan contributions

    total $4,104,333 · program services $3,302,775 · management and general $801,558

  • 9 · Other employee benefits

    total $5,385,725 · program services $4,402,918 · management and general $982,807

  • 10 · Payroll taxes

    total $2,693,766 · program services $2,167,685 · management and general $526,081

  • 11a · Fees: management

    total $6,462,452 · management and general $6,074,705 · fundraising $387,747

  • 11b · Fees: legal

    total $22,318 · management and general $22,318

  • 11c · Fees: accounting

    total $121,050 · management and general $121,050

  • 11g · Fees: other

    total $3,727,389 · program services $2,748,028 · management and general $979,361

  • 13 · Office expenses

    total $2,669,354 · program services $2,669,354

  • 16 · Occupancy

    total $9,895,171 · program services $7,962,687 · management and general $1,932,484

  • 22 · Depreciation, depletion and amortization

    total $5,042,695 · program services $4,057,879 · management and general $984,816

  • 23 · Insurance

    total $483,650 · management and general $483,650

  • 24a · Other expenses: SUPPLIES

    total $3,575,061 · program services $2,592,581 · management and general $982,480

  • 24b · Other expenses: TPAF EXPENSES

    total $3,027,867 · program services $2,436,538 · management and general $591,329

  • 24c · Other expenses: FOOD SERVICE EXPENSES

    total $2,476,768 · program services $2,476,768

  • 24d · Other expenses: OTHER PURCHASED SERVICE

    total $1,687,288 · program services $1,687,288

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $26,771,734 · end of year $29,165,121

  • 3 · Pledges and grants receivable

    beginning of year $4,021,032 · end of year $2,513,810

  • 9 · Prepaid expenses and deferred charges

    beginning of year $464,558 · end of year $449,867

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

    $152,650,900

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

    $21,622,964

  • 10c · Land, buildings and equipment, net

    beginning of year $131,278,910 · end of year $131,027,936

  • 11 · Investments: publicly traded securities

    beginning of year $11,530,310 · end of year $14,076,184

  • 15 · Other assets

    beginning of year $31,169,378 · end of year $25,343,260

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,464,740 · end of year $4,269,349

  • 19 · Deferred revenue

    beginning of year $382,678 · end of year $378,499

  • 20 · Tax-exempt bond liabilities

    beginning of year $84,130,000 · end of year $84,130,000

  • 23 · Secured mortgages and notes payable

    beginning of year $84,072,505 · end of year $85,056,916

  • 25 · Other liabilities

    beginning of year $31,507,686 · end of year $31,030,125

  • 29 · Capital stock, trust principal or current funds

    beginning of year $18,242,666 · end of year $16,627,917

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year -$16,564,353 · end of year -$18,916,628

  • 31 · Retained earnings, endowment or other funds

    beginning of year $0 · end of year $0

Mission and programs · 2024

Mission

THE CORPORATION IS ORGANIZED AND OPERATED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES WITHIN THE MEANING OF THE SECTION 501(C)(3) OF THE IRS REVENUE CODE OF 1986 TO OPERATE NONPROFIT EDUCATIONAL INSTITUTIONS, INCLUDING BUT NOT LIMITED TO, A RENAISSANCE SCHOOL OR SCHOOLS, WITHIN THE STATE OF NJ AND TO DEAL GENERALLY WITHIN.

Activities or mission (Part I)

THE CORPORATION IS ORGANIZED AND OPERATED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES WITHIN THE MEANING OF THE SECTION 501(C)(3) OF THE IRS REVENUE CODE OF 1986 TO OPRATE NONPROFIT EDUCATIONAL INSTITUTIONS IN NJ.

  • THE CORPORATION IS ORGANIZED AND OPERATED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES WITHIN THE MEANING OF THE SECTION 501(C)(3) OF THE IRS REVENUE CODE OF 1986 TO OPERATE NONPROFIT EDUCATIONAL INSTITUTIONS, INCLUDING, BUT NOT LIMITED TO, A RENAISSANCE SCHOOL OR SCHOOLS, WITHIN THE STATE OF NJ AND TO DEAL GENERALLY THEREIN.

    Expenses $58,021,220 · Revenue $68,001

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Rahul Goyal

    PRESIDENT AND TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Michael Goodman

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Jordan Metzger

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Christine Choi

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Kathleen Nugent Hughes

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Anthony Welch

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Lisa Morina

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Lapree Burgess

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Christopher Keating

    TRUSTEE (UNTI 8/19/24)

    Total calculated
    $0
    Hours/week
    2

  • Ryan Hill

    CHIEF SCHOOLS ADMIN

    Total calculated
    $0
    Hours/week
    5

  • Erica Grohman

    CFO

    Total calculated
    $0
    Hours/week
    10

  • Drew Martin

    EXECUTIVE DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Anne Kadowaki

    MANAGING DIRECTOR

    Total calculated
    $265,890
    From this org
    $253,709
    From related orgs
    $0
    Other
    $12,181
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $253,709
    Bonus
    $0
    Other
    $0
    Deferred
    $1,500
    Nontaxable benefits
    $10,681
    Filer's total
    $265,890

  • Bridgit Cusato-Rosa

    SCHOOL LEADER

    Total calculated
    $220,742
    From this org
    $187,626
    From related orgs
    $0
    Other
    $33,116
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $187,626
    Bonus
    $0
    Other
    $0
    Deferred
    $1,500
    Nontaxable benefits
    $31,616
    Filer's total
    $220,742

  • Charles Stanley

    HEAD OF SCHOOLS

    Total calculated
    $193,069
    From this org
    $182,388
    From related orgs
    $0
    Other
    $10,681
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $182,388
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $10,681
    Filer's total
    $193,069

  • Albery Corona

    MANAGING DIR. OF SCHOOL OPERATIONS

    Total calculated
    $177,700
    From this org
    $177,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $177,700
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $177,700

  • Travis Dempsey

    HEAD OF SCHOOLS

    Total calculated
    $202,718
    From this org
    $169,602
    From related orgs
    $0
    Other
    $33,116
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $169,602
    Bonus
    $0
    Other
    $0
    Deferred
    $1,500
    Nontaxable benefits
    $31,616
    Filer's total
    $202,718

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

None.

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

The filer's explanations (Part III)

PART I, LINE 3
THE EXECUTIVE DIRECTOR IS COMPENSATED BY KIPP TEAM AND FAMILY SCHOOLS.

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.

  • KCNA PROJECT LLC

    FACILITATE CONSTRUCTION PROJECTS FOR KCNA · NJ · income $0 · assets $0

    Directly controlled by KIPP COOPER NORCROSS INC

Provenance

Return type
form_990
Tax year
2024
Filed
14 May 2026
IRS schema version
2024v5.5
Source object
202611359349302726

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