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Nonprofiteer
← ISAAC NEWTON FOUNDATION INC

Form 990 for tax year 2024

Filed by ISAAC NEWTON FOUNDATION INC.

Totals

Total revenue
$9,802,109
Total expenses
$9,222,553
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$9,069,167
Investment income
$726,920
Other revenue
$6,022
Total assets, end of year
$135,967,349
Total liabilities, end of year
$126,746,196
Net assets or fund balances, end of year
$9,221,153
Program services expenses (Part IX)
$8,956,458
Management and general expenses
$266,095
Fundraising expenses
$0
Program service expenses (Part III)
$8,956,458

Program services were 97.1% 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.

  • 2a · Program service revenue: RENTAL INCOME

    total $9,069,167 · related or exempt $9,069,167

  • 3 · Investment income

    total $726,920 · excluded $726,920

  • 11a · Other revenue: OTHER INCOME

    total $6,022 · related or exempt $6,022

  • 11e · Other revenue, total

    $6,022

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $35,501 · management and general $35,501

  • 11b · Fees: legal

    total $293 · management and general $293

  • 11c · Fees: accounting

    total $29,250 · management and general $29,250

  • 11g · Fees: other

    total $197,070 · management and general $197,070

  • 13 · Office expenses

    total $3,981 · management and general $3,981

  • 16 · Occupancy

    total $6,021 · program services $6,021

  • 20 · Interest

    total $5,498,085 · program services $5,498,085

  • 22 · Depreciation, depletion and amortization

    total $3,062,554 · program services $3,062,554

  • 23 · Insurance

    total $389,798 · program services $389,798

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,399,591 · end of year $1,691,704

  • 2 · Savings and temporary cash investments

    beginning of year $687,685 · end of year $702,560

  • 9 · Prepaid expenses and deferred charges

    beginning of year $232,806 · end of year $447,506

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

    $142,438,580

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

    $27,950,127

  • 10c · Land, buildings and equipment, net

    beginning of year $111,293,516 · end of year $114,488,453

  • 15 · Other assets

    beginning of year $19,442,798 · end of year $18,637,126

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,433,559 · end of year $3,190,186

  • 19 · Deferred revenue

    beginning of year $14,674,602 · end of year $14,249,886

  • 20 · Tax-exempt bond liabilities

    beginning of year $111,077,306 · end of year $109,306,124

  • 25 · Other liabilities

    beginning of year $229,332 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $8,641,597 · end of year $9,221,153

Mission and programs · 2024

Mission

THE FOUNDATION'S MISSION IS TO SUPPORT THE HEALTH, WELFARE, EDUCATIONAL INTERESTS OF THE MATHEMATICS, SCIENCE & TECHNOLOGY COMMUNITY CHARTER SCHOOL (THE "SCHOOL"), A PENNSYLVANIA NONPROFIT CORPORATION THAT IS EXEMPT FROM FEDERAL INCOME TAX AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986 (THE "CODE"), AS AMENDED.THE FOUNDATION IS A NONPROFIT CORPORATION ESTABLISHED UNDER THE LAWS OF THE COMMONWEALTH OF PENNSYLVANIA. THE PURPOSES FOR WHICH THE FOUNDATION IS ORGANIZED AND OPERATED ARE EXCLUSIVELY CHARITABLE AND EDUCATIONAL WITHIN THE MEANING OF SECTION 501(C)(3) OF THE CODE, AND, IN FURTHERANCE OF THESE PURPOSES, THE FOUNDATION MAY: (A) OPERATE EXCLUSIVELY FOR THE SUPPORT AND BENEFIT OF THE SCHOOL AND ITS AFFILIATED OR CONTROLLED ORGANIZATIONS THAT ARE PUBLICLY SUPPORTED CHARTITIES AS DEFINED UNDER THE CODE; (B) UTILIZE RESOURCES FOR THE PURPOSES OF REPLICATING THE SCHOOL'S EDUCATIONAL MODEL; (C) RECEIVE CONTRIBUTIONS FROM WHATEVER SOURCE.

  • ORGANIZATION LEASES PROPERTY TO MATHEMATICS, SCIENCE AND TECHNOLOGY COMMUNITY CHARTER SCHOOL, A NOT-FOR-PROFIT ENTITY FORMED UNDER 501(C)(3) ID# 23-2963763, MAST COMMUNITY CHARTER SCHOOL II, A NOT-FOR-PROFIT ENTITY FORMED UNDER 501(C)(3) ID# 47-3810173, AND MAST COMMUNITY CHARTER SCHOOL III, A NOT-FOR-PROFIT ENTITY FORMED UNDER 501(C)(3) ID #83-1383617.

    Expenses $8,956,458 · Revenue $9,075,189

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

Listed in Part VII

  • Karen Delguercio

    BOARD PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Jan Brophy

    BOARD VICE PRESIDENT / SEC

    Total calculated
    $0
    Hours/week
    1

  • Dr Norman Provizer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Louis Decree

    BOARD TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Hope Inge

    BOARD MEMBER

    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.

Provenance

Return type
form_990
Tax year
2024
Filed
30 April 2026
IRS schema version
2024v5.5
Source object
202621319349302732

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