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← INDEPENDENCE MISSION SCHOOLS

Form 990 for tax year 2023

Filed by INDEPENDENCE MISSION SCHOOLS.

Totals

Total revenue
$34,099,277
Total expenses
$34,700,650
Contributions and grants received
$23,290,432
Grants paid
$1,644,209
Program service revenue
$9,792,800
Investment income
$573,106
Other revenue
$442,939
Total assets, end of year
$52,246,831
Total liabilities, end of year
$4,653,669
Net assets or fund balances, end of year
$47,593,162
Program services expenses (Part IX)
$31,068,726
Management and general expenses
$2,487,407
Fundraising expenses
$1,144,517
Program service expenses (Part III)
$31,068,726

Program services were 89.5% 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

    $23,290,432

  • 1g · Noncash contributions included above

    $1,076,013

  • 2a · Program service revenue: TUITION

    total $9,249,581 · related or exempt $9,249,581

  • 2b · Program service revenue: OTHER SCHOOL INCOME

    total $543,219 · related or exempt $543,219

  • 3 · Investment income

    total $573,106 · excluded $573,106

  • 8a · Fundraising events: gross income

    $204,763

  • 8b · Fundraising events: direct expenses

    $71,744

  • 8c · Net income from fundraising events

    total $133,019 · excluded $133,019

  • 11a · Other revenue: RISK ASSESSMENT INCOME

    total $275,000 · related or exempt $275,000

  • 11b · Other revenue: RENT

    total $34,920 · related or exempt $34,920

  • 11e · Other revenue, total

    $309,920

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $1,644,209 · program services $1,644,209

  • 5 · Compensation of officers, directors and key employees

    total $877,058 · program services $768,972 · management and general $80,563 · fundraising $27,523

  • 7 · Other salaries and wages

    total $19,701,688 · program services $17,239,802 · management and general $1,813,697 · fundraising $648,189

  • 8 · Pension plan contributions

    total $413,148 · program services $375,965 · management and general $37,183

  • 9 · Other employee benefits

    total $2,070,130 · program services $1,905,914 · management and general $164,216

  • 10 · Payroll taxes

    total $1,662,795 · program services $1,443,003 · management and general $168,094 · fundraising $51,698

  • 11b · Fees: legal

    total $37,960 · program services $36,442 · management and general $1,518

  • 11c · Fees: accounting

    total $61,000 · program services $23,790 · management and general $37,210

  • 11g · Fees: other

    total $195,205 · program services $150,308 · management and general $42,945 · fundraising $1,952

  • 12 · Advertising and promotion

    total $189,969 · program services $13,234 · management and general $3,227 · fundraising $173,508

  • 16 · Occupancy

    total $750,067 · program services $746,422 · management and general $3,645

  • 20 · Interest

    total $54,388 · management and general $54,388

  • 22 · Depreciation, depletion and amortization

    total $980,619 · program services $980,619

  • 23 · Insurance

    total $412,524 · program services $403,604 · management and general $6,862 · fundraising $2,058

  • 24a · Other expenses: SUPPLIES, ACTIVITIESS,

    total $2,642,261 · program services $2,376,731 · management and general $36,221 · fundraising $229,309

  • 24b · Other expenses: REPAIRS AND MAINTENANCE

    total $1,441,170 · program services $1,441,170

  • 24c · Other expenses: TUITION MANAGEMENT FEES

    total $533,284 · program services $533,284

  • 24d · Other expenses: RISK ASSESSMENT EXPENSE

    total $285,799 · program services $285,799

  • 24e · All other expenses

    total $747,376 · program services $699,458 · management and general $37,638 · fundraising $10,280

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $821,138 · end of year $473,033

  • 2 · Savings and temporary cash investments

    beginning of year $2,912,581 · end of year $2,004,023

  • 3 · Pledges and grants receivable

    beginning of year $10,129,643 · end of year $2,926,505

  • 4 · Accounts receivable

    beginning of year $517,723 · end of year $422,257

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

    $16,691,608

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

    $6,114,790

  • 10c · Land, buildings and equipment, net

    beginning of year $10,532,575 · end of year $10,576,818

  • 11 · Investments: publicly traded securities

    beginning of year $214,977 · end of year $182,171

  • 15 · Other assets

    beginning of year $26,503,578 · end of year $35,662,024

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,353,210 · end of year $2,769,618

  • 19 · Deferred revenue

    beginning of year $16,926 · end of year $1,914

  • 20 · Tax-exempt bond liabilities

    beginning of year $1,964,165 · end of year $1,882,137

  • 27 · Net assets without donor restrictions

    beginning of year $23,135,225 · end of year $22,975,879

  • 28 · Net assets with donor restrictions

    beginning of year $23,162,689 · end of year $24,617,283

Mission and programs · 2023

Mission

INDEPENDENCE MISSION SCHOOLS MANAGES A NETWORK OF CATHOLIC ELEMENTARY SCHOOLS THROUGH A CENTRAL OFFICE LOCATION WHICH PROVIDES SUPPORT TO ALL OF THE SCHOOLS. THE MISSION OF IMS IS TO PROVIDE SUSTAINABLE, AFFORDABLE, HIGH-QUALITY CATHOLIC EDUCATION TO NEARLY 4,000 CHILDREN OF ALL FAITHS IN UNDERSERVED URBAN NEIGHBORHOODS THROUGH A NEW MODEL OF GOVERNANCE, FUNDING, AND ACCOUNTABILITY FOR THE MEMBER SCHOOLS.

  • INDEPENDENCE MISSIONS SCHOOLS FIERCELY BELIEVES IN THE LIFE-CHANGING IMPACT OF CATHOLIC SCHOOL EDUCATION. THE SY24-25 WILL MARK THE 12TH YEAR FOR IMS AS AN INDEPENDENT NONPROFIT OPERATING 14 PHILADELPHIA-AREA NEIGHBORHOOD CATHOLIC SCHOOLS COMMITTED TO STUDENT ACHIEVEMENT AND GROWTH. BY CREATING HIGH-ACHIEVING, SAFE, AND LOVING LEARNING ENVIRONMENTS, IMS CONTINUES TO OUTPERFORM NATIONAL AND HIGH-POVERTY LEARNING GROWTH STATISTICS IN BOTH ENGLISH LANGUAGE ARTS AND MATH. WE CONTINUE TO TRACK TOWARD THE GOALS AS OUTLINED IN THE STRATEGIC PLAN. WE PREPARE OUR STUDENTS FOR SUCCESS IN HIGH SCHOOL, COLLEGE, AND LIFE. DONORS CONTINUE TO SHOW THEIR SUPPORT AS WE ENTER THE FINAL 18 MONTHS OF THE CAPITAL CAMPAIGN IN SUPPORT OF THE STRATEGIC PLAN.

    Expenses $31,068,726 · Grants $1,644,209 · Revenue $10,102,720

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • BRIAN MCELWEE

    CHAIR

    Total calculated
    $0
    Hours/week
    4.33

  • KEN PHELAN

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1.38

  • JOSEPH T STAPLETON

    SECRETARY

    Total calculated
    $0
    Hours/week
    3.92

  • KATHLEEN FRIEL

    TREASURER

    Total calculated
    $0
    Hours/week
    3.69

  • ANTHONY CELLUCCI

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.38

  • BILL CURTIS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.69

  • JOHN FIGGE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.23

  • DAVID P HARDY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.23

  • MARIS A OGG

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.38

  • DANIEL PICKENS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.69

  • MICHAEL PIOTROWICZ

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2.31

  • MARC S RICHMAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.15

  • SR KAREN C DIETRICH

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.23

  • SEAN-TAMBA MATTHEW

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.23

  • MICHAEL STEPHANO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.23

  • TOM DOUGHERTY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.23

  • CYNTHIA ARCHER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.23

  • MICHAEL F YOUNG

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.38

  • FR STEVE DELACY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.23

  • HAROLD EARLEY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.23

  • JAMES GARVEY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.46

  • LORIE HOWLEY

    EMERITUS DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • GERALD H SWEENEY

    EMERITUS DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • RICHARD NOURIE

    EMERITUS DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • BRUCE ROBINSON

    PAST PRESIDENT

    Total calculated
    $226,171
    From this org
    $206,138
    From related orgs
    $0
    Other
    $20,033
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $206,138
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $20,033
    Filer's total
    $226,171

  • GIANNA D'ANGELO

    PRESIDENT AND CEO

    Total calculated
    $288,203
    From this org
    $276,469
    From related orgs
    $0
    Other
    $11,734
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $276,469
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $11,734
    Filer's total
    $288,203

  • JILL VALUNAS

    CHIEF OF SCHOOLS

    Total calculated
    $220,295
    From this org
    $212,908
    From related orgs
    $0
    Other
    $7,387
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $212,908
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $7,387
    Filer's total
    $220,295

  • BRIAN KENNETH MORTON

    DEP. CHIEF OF SCHOOL

    Total calculated
    $139,999
    From this org
    $122,981
    From related orgs
    $0
    Other
    $17,018
    Hours/week
    40

  • PATRICK BOYDEN

    DEPUTY COO

    Total calculated
    $127,543
    From this org
    $114,106
    From related orgs
    $0
    Other
    $13,437
    Hours/week
    40

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

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.

Provenance

Return type
form_990
Tax year
2023
Filed
29 January 2025
IRS schema version
2023v6.0
Source object
202540299349300329

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