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Nonprofiteer
← NEW FOUNDATIONS CHARTER SCHOOL

Form 990 for tax year 2024

Filed by NEW FOUNDATIONS CHARTER SCHOOL.

Totals

Total revenue
$33,553,671
Total expenses
$33,833,499
Contributions and grants received
$4,934,345
Grants paid
$0
Program service revenue
$28,199,059
Investment income
$214,367
Other revenue
$205,900
Total assets, end of year
$37,933,065
Total liabilities, end of year
$39,283,412
Net assets or fund balances, end of year
-$1,350,347
Program services expenses (Part IX)
$23,002,641
Management and general expenses
$10,830,858
Fundraising expenses
$0
Program service expenses (Part III)
$23,002,641

Program services were 68.0% 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.

  • 1c · Fundraising events

    $66,991

  • 1e · Government grants (contributions)

    $4,704,158

  • 1f · All other contributions, gifts and grants

    $163,196

  • 1g · Noncash contributions included above

    $59,239

  • 2a · Program service revenue: SCHOOL DISTRICT DIRECT SUBSIDY

    total $27,317,666 · related or exempt $27,317,666

  • 2b · Program service revenue: FOOD SERVICE

    total $875,575 · related or exempt $875,575

  • 2c · Program service revenue: CHILD CARE FEES

    total $5,818 · related or exempt $5,818

  • 3 · Investment income

    total $214,367 · excluded $214,367

  • 8a · Fundraising events: gross income

    $8,928

  • 8a · Fundraising events: contributions included on line 1c

    $66,991

  • 8b · Fundraising events: direct expenses

    $20,635

  • 8c · Net income from fundraising events

    total -$11,707 · excluded -$11,707

  • 11a · Other revenue: MISCELLANEOUS

    total $217,607 · excluded $217,607

  • 11e · Other revenue, total

    $217,607

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $311,479 · management and general $311,479

  • 7 · Other salaries and wages

    total $15,749,665 · program services $13,569,014 · management and general $2,180,651

  • 8 · Pension plan contributions

    total $1,942,101 · program services $1,675,144 · management and general $266,957

  • 9 · Other employee benefits

    total $3,180,555 · program services $2,890,956 · management and general $289,599

  • 10 · Payroll taxes

    total $1,249,579 · program services $1,087,497 · management and general $162,082

  • 11b · Fees: legal

    total $278,479 · management and general $278,479

  • 11c · Fees: accounting

    total $37,570 · management and general $37,570

  • 11g · Fees: other

    total $3,326,343 · management and general $3,326,343

  • 12 · Advertising and promotion

    total $11,899 · management and general $11,899

  • 13 · Office expenses

    total $573,564 · program services $275,080 · management and general $298,484

  • 14 · Information technology

    total $715,764 · management and general $715,764

  • 16 · Occupancy

    total $2,629,180 · program services $832,138 · management and general $1,797,042

  • 17 · Travel

    total $86,497 · program services $20,074 · management and general $66,423

  • 19 · Conferences, conventions and meetings

    total $13,739 · program services $13,739

  • 22 · Depreciation, depletion and amortization

    total $757,019 · program services $302,185 · management and general $454,834

  • 24a · Other expenses: EQUIPMENT

    total $1,163,394 · program services $530,142 · management and general $633,252

  • 24b · Other expenses: TUITION APS

    total $849,585 · program services $849,585

  • 24c · Other expenses: FOOD SERVICE

    total $767,373 · program services $767,373

  • 24d · Other expenses: STUDENT ACTIVITIES AND

    total $98,129 · program services $98,129

  • 24e · All other expenses

    total $91,585 · program services $91,585

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $852,861 · end of year $1,778,915

  • 2 · Savings and temporary cash investments

    beginning of year $10,420,747 · end of year $10,730,950

  • 3 · Pledges and grants receivable

    beginning of year $2,127,487 · end of year $830,428

  • 9 · Prepaid expenses and deferred charges

    beginning of year $689,344 · end of year $635,081

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

    $6,392,196

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

    $2,470,169

  • 10c · Land, buildings and equipment, net

    beginning of year $4,048,506 · end of year $3,922,027

  • 15 · Other assets

    beginning of year $21,817,702 · end of year $20,035,664

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,406,770 · end of year $2,772,858

  • 19 · Deferred revenue

    beginning of year $153,460 · end of year $0

  • 25 · Other liabilities

    beginning of year $38,466,935 · end of year $36,510,554

  • 27 · Net assets without donor restrictions

    beginning of year -$2,526,749 · end of year -$2,338,038

  • 28 · Net assets with donor restrictions

    beginning of year $1,456,231 · end of year $987,691

Mission and programs · 2024

Mission

THE MISSION IS TO PROVIDE STUDENTS WITH THE ACADEMIC, SOCIAL AND EMOTIONAL FOUNDATIONS AND SKILLS NECESSARY TO BECOME HIGH ACHIEVING, SOCIALLY COMPETENT STEWARDS OF THEIR COMMUNITIES. THE FOUNDERS OF THE NEW FOUNDATIONS CHARTER SCHOOL WILL ENSURE A COMMITMENT TO LIFELONG LEARNING AND ACHIEVEMENT OF ALL OUR STUDENTS BY CREATING AN ATMOSPHERE OF CARING THAT PREVADES EVERY ASPECT OF SCHOOL LIFE, AND PROMOTES ATTACHMENT TO AND RESPONSIBILITY FOR ALL MEMBERS OF OUR SCHOOL COMMUNITY.

Activities or mission (Part I)

THE MISSION IS TO PROVIDE STUDENTS WITH THE ACADEMIC, SOCIAL AND EMOTIONAL FOUNDATIONS AND SKILLS NECESSARY TO BECOME HIGH ACHIEVING, SOCIALLY COMPETENT STEWARDS OF THEIR COMMUNITIES. THE FOUNDERS OF THE NEW FOUNDATIONS CHARTER SCHOOL WILL ENSURE A COMMITMENT TO LIFELONG LEARNING AND ACHIEVEMENT OF ALL OUR STUDENTS BY CREATING AN ATMOSPHERE OF CARING THAT PERVADES EVERY ASPECT OF SCHOOL LIFE, AND PROMOTES ATTACHMENT TO AND RESPONSIBILITY FOR ALL MEMBERS OF OUR SCHOOL COMMUNITY.

  • CHARTER SCHOOL PROVIDING EDUCATION INSTRUCTION TO STUDENTS IN THE CITY OF PHILADELPHIA SERVING GRADES K-12.

    Expenses $23,002,641 · Revenue $28,199,059

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

Listed in Part VII

  • David Lambie

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Kisha Thompson

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Karen Bowman

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Thomas Shirley

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Max Matthews

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Lizette Olmeda

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Sheryl Perzel

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Christopher Zagacki

    CEO

    Total calculated
    $232,837
    From this org
    $206,124
    From related orgs
    $0
    Other
    $26,713
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $190,551
    Bonus
    $15,573
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $26,713
    Filer's total
    $232,837

  • Frances Daly

    PRINCIPAL

    Total calculated
    $150,962
    From this org
    $150,962
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $138,523
    Bonus
    $12,439
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $150,962

  • Sarnetta Sumner

    VICE PRINCIPAL

    Total calculated
    $150,210
    From this org
    $123,497
    From related orgs
    $0
    Other
    $26,713
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $113,175
    Bonus
    $10,322
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $26,713
    Filer's total
    $150,210

  • Kevin Ouellette

    DATA SPECIALIST

    Total calculated
    $142,552
    From this org
    $125,897
    From related orgs
    $0
    Other
    $16,655
    Hours/week
    40

  • Rachel Sandhaus

    TEACHER

    Total calculated
    $143,983
    From this org
    $117,270
    From related orgs
    $0
    Other
    $26,713
    Hours/week
    40

  • Erin Herschberger

    PRINCIPAL

    Total calculated
    $132,692
    From this org
    $132,692
    From related orgs
    $0
    Other
    $0
    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

  • 3 · Independent compensation consultant
  • 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.

Provenance

Return type
form_990
Tax year
2024
Filed
23 January 2026
IRS schema version
2024v5.5
Source object
202620299349300637

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