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Nonprofiteer
← RIVERWALK EDUCATION FOUNDATION INC

Form 990 for tax year 2023

Filed by RIVERWALK EDUCATION FOUNDATION INC.

Totals

Total revenue
$141,902,616
Total expenses
$135,577,344
Contributions and grants received
$135,685,757
Grants paid
$0
Program service revenue
$5,154,690
Investment income
$1,062,169
Other revenue
$0
Total assets, end of year
$441,924,786
Total liabilities, end of year
$432,511,737
Net assets or fund balances, end of year
$9,413,049
Program services expenses (Part IX)
$91,657,719
Management and general expenses
$43,919,625
Fundraising expenses
$0
Program service expenses (Part III)
$91,657,719

Program services were 67.6% 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)

    $131,260,465

  • 1f · All other contributions, gifts and grants

    $4,425,292

  • 2a · Program service revenue: LOCAL SOURCE REVENUE

    total $2,152,134 · related or exempt $2,152,134

  • 2b · Program service revenue: CAMPUS ACTIVITY REVENUE

    total $2,060,084 · related or exempt $2,060,084

  • 2c · Program service revenue: FOOD SERVICE REVENUE

    total $942,472 · related or exempt $942,472

  • 3 · Investment income

    total $1,062,169 · excluded $1,062,169

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $996,434 · program services $892,697 · management and general $103,737

  • 7 · Other salaries and wages

    total $71,599,537 · program services $64,145,402 · management and general $7,454,135

  • 8 · Pension plan contributions

    total $3,503,646 · program services $3,306,058 · management and general $197,588

  • 9 · Other employee benefits

    total $4,124,940 · program services $3,921,395 · management and general $203,545

  • 10 · Payroll taxes

    total $1,259,745 · program services $1,149,501 · management and general $110,244

  • 11b · Fees: legal

    total $30,012 · management and general $30,012

  • 11c · Fees: accounting

    total $137,080 · management and general $137,080

  • 11g · Fees: other

    total $16,213,128 · program services $12,188,939 · management and general $4,024,189

  • 16 · Occupancy

    total $7,858,368 · management and general $7,858,368

  • 17 · Travel

    total $301,547 · program services $236,535 · management and general $65,012

  • 20 · Interest

    total $12,884,328 · management and general $12,884,328

  • 22 · Depreciation, depletion and amortization

    total $6,621,525 · management and general $6,621,525

  • 23 · Insurance

    total $800,686 · management and general $800,686

  • 24a · Other expenses: SUPPLIES

    total $5,234,155 · program services $4,583,053 · management and general $651,102

  • 24b · Other expenses: REPAIRS & MAINTENAINCE

    total $2,323,808 · program services $134,459 · management and general $2,189,349

  • 24c · Other expenses: OTHER EXPENSES

    total $1,620,043 · program services $1,050,475 · management and general $569,568

  • 24d · Other expenses: TRAINING

    total $68,362 · program services $49,205 · management and general $19,157

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $68,053,019 · end of year $40,051,933

  • 2 · Savings and temporary cash investments

    beginning of year $2,605,647 · end of year $23,943

  • 3 · Pledges and grants receivable

    beginning of year $23,568,097 · end of year $23,434,488

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

    $378,240,781

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

    $31,218,944

  • 10c · Land, buildings and equipment, net

    beginning of year $282,888,725 · end of year $347,021,837

  • 14 · Intangible assets

    beginning of year $531,689 · end of year $607,251

  • 15 · Other assets

    beginning of year $20,098,704 · end of year $30,785,334

  • 17 · Accounts payable and accrued expenses

    beginning of year $15,172,368 · end of year $12,816,257

  • 19 · Deferred revenue

    beginning of year $185,290

  • 20 · Tax-exempt bond liabilities

    beginning of year $184,090,018 · end of year $180,889,789

  • 23 · Secured mortgages and notes payable

    end of year $33,148,296

  • 24 · Unsecured notes and loans payable

    beginning of year $153,597,755 · end of year $153,223,152

  • 25 · Other liabilities

    beginning of year $41,612,673 · end of year $52,434,243

  • 27 · Net assets without donor restrictions

    beginning of year -$2,130,080 · end of year $1,849,452

  • 28 · Net assets with donor restrictions

    beginning of year $5,217,857 · end of year $7,563,597

Mission and programs · 2023

Mission

OUR MISSION DRIVES ACADEMIC AND SOCIO-EMOTIONAL DEVELOPMENT THROUGH ARIGOROUS COLLEGE PREPARATORY, STEM-BASED LEARNING MODEL. THE MODEL ISANCHORED ON 21ST CENTURY SKILLS, EMBRACED BY A CHARACTER-BUILDING APPROACH, AND DELIVERED IN AN ENRICHING, SAFE, (SEE SCHEDULE O) AND STUDENT-CENTERED LEARNING ENVIRONMENT.

Activities or mission (Part I)

OUR MISSION DRIVES ACADEMIC AND SOCIO-EMOTIONAL DEVELOPMENT (SEE SCHEDULE O) THROUGH A RIGOROUS COLLEGE PREPARATORY, STEM-BASED LEARNING MODEL. THE MODEL IS ANCHORED ON 21ST CENTURY SKILLS, EMBRACED BY A CHARACTER-BUILDING APPROACH, AND DELIVERED IN AN ENRICHING, SAFE, AND STUDENT-CENTERED LEARNING ENVIRONMENT.

  • SST, A PUBLIC CHARTER SCHOOL ACCREDITED BY THE TEXAS EDUCATION AGENCY, IS OPERATING UNDER THE RIVERWALK EDUCATION FOUNDATION. IT'S DEDICATED TO STEM EDUCATION, EMPHASIZING 21ST-CENTURY SKILLS AND CHARACTER DEVELOPMENT. ACROSS 20 CAMPUSES IN SAN ANTONIO, HOUSTON, AND CORPUS CHRISTI, SST NURTURES ABOUT 11,000 STUDENTS IN A DYNAMIC LEARNING ENVIRONMENT. DRIVEN BY A COLLEGE PREPARATORY, STEM-FOCUSED MODEL, SST INTEGRATES ACADEMIC AND SOCIO-EMOTIONAL GROWTH. ITS APPROACH COMBINES CHARACTER-BUILDING STRATEGIES WITH A STUDENT-CENTERED ETHOS, ENSURING A SAFE, ENRICHING EXPERIENCE FOR EVERY LEARNER.

    Expenses $91,657,719 · Revenue $5,154,690

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

Listed in Part VII

  • Dr Suleyman Tek

    PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Mr Christopher Geiseke

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Dr Turgay Korkmaz

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • Mr Denis Akhiyarov

    MEMBER

    Total calculated
    $0
    Hours/week
    5

  • Mrs Valarie Aktepe

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Fawzy Shemshack

    SUPERINTENDENT

    Total calculated
    $167,018
    From this org
    $151,663
    From related orgs
    $0
    Other
    $15,355
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,663
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $15,355
    Filer's total
    $167,018

  • Atnan Ekin

    REGIONAL EXECUTIVE DIRECTOR

    Total calculated
    $144,719
    From this org
    $132,933
    From related orgs
    $0
    Other
    $11,786
    Hours/week
    40

  • Kevin Demirci

    CHIEF OPERATIONS OFFICER

    Total calculated
    $128,075
    From this org
    $117,453
    From related orgs
    $0
    Other
    $10,622
    Hours/week
    40

  • Guray Taysever

    PRINCIPAL

    Total calculated
    $139,717
    From this org
    $130,314
    From related orgs
    $0
    Other
    $9,403
    Hours/week
    40

  • Alpaslan Uzgoren

    PRINCIPAL

    Total calculated
    $128,142
    From this org
    $118,739
    From related orgs
    $0
    Other
    $9,403
    Hours/week
    40

  • Orhan Jacobs

    PRINCIPAL

    Total calculated
    $120,341
    From this org
    $112,438
    From related orgs
    $0
    Other
    $7,903
    Hours/week
    40

  • Haci Mert Dilli

    PRINCIPAL

    Total calculated
    $138,477
    From this org
    $129,074
    From related orgs
    $0
    Other
    $9,403
    Hours/week
    40

  • Hasan Kendirci

    PRINCIPAL

    Total calculated
    $112,973
    From this org
    $103,820
    From related orgs
    $0
    Other
    $9,153
    Hours/week
    40

  • Tirkishmyrat Atakov

    PRINCIPAL

    Total calculated
    $118,469
    From this org
    $109,316
    From related orgs
    $0
    Other
    $9,153
    Hours/week
    40

  • Maksatmyrat Altiyev

    REGIONAL EXECUTIVE DIRECTOR

    Total calculated
    $127,246
    From this org
    $115,693
    From related orgs
    $0
    Other
    $11,553
    Hours/week
    40

  • Yvette Alvarez

    SENIOR DIRECTOR OF SUPERINTENDENT'S OFFICE

    Total calculated
    $112,223
    From this org
    $104,320
    From related orgs
    $0
    Other
    $7,903
    Hours/week
    40

  • Musa Baki

    PRINCIPAL

    Total calculated
    $118,497
    From this org
    $112,250
    From related orgs
    $0
    Other
    $6,247
    Hours/week
    40

  • Serdar Bulut

    PRINCIPAL

    Total calculated
    $126,162
    From this org
    $118,159
    From related orgs
    $0
    Other
    $8,003
    Hours/week
    40

  • Halil Celik

    DIRECTOR OF PERSONNEL SERVICES

    Total calculated
    $116,993
    From this org
    $107,590
    From related orgs
    $0
    Other
    $9,403
    Hours/week
    40

  • Halil Cicek

    PRINCIPAL

    Total calculated
    $120,338
    From this org
    $114,554
    From related orgs
    $0
    Other
    $5,784
    Hours/week
    40

  • Ali Dal

    PRINCIPAL

    Total calculated
    $109,751
    From this org
    $101,848
    From related orgs
    $0
    Other
    $7,903
    Hours/week
    40

  • Mehmet Eraslan

    DIRECTOR OF CCMR

    Total calculated
    $111,453
    From this org
    $103,550
    From related orgs
    $0
    Other
    $7,903
    Hours/week
    40

  • Taner Ertekin

    REGIONAL DIRECTOR OF OPERATIONS

    Total calculated
    $118,290
    From this org
    $110,387
    From related orgs
    $0
    Other
    $7,903
    Hours/week
    40

  • Rhianna Flores

    PRINCIPAL

    Total calculated
    $135,327
    From this org
    $126,424
    From related orgs
    $0
    Other
    $8,903
    Hours/week
    40

  • Elizabeth James

    CHIEF ACADEMIC OFFICER

    Total calculated
    $103,982
    From this org
    $103,579
    From related orgs
    $0
    Other
    $403
    Hours/week
    40

  • Kimberly Lardin

    PRINCIPAL

    Total calculated
    $120,055
    From this org
    $112,152
    From related orgs
    $0
    Other
    $7,903
    Hours/week
    40

  • Soltanmyrat Matchanov

    DIRECTOR OF PAYROLL

    Total calculated
    $110,483
    From this org
    $102,580
    From related orgs
    $0
    Other
    $7,903
    Hours/week
    40

  • Mehmet Oguz

    DIRECTOR OF STUDENT INFORMATION SYSTEM

    Total calculated
    $122,743
    From this org
    $113,340
    From related orgs
    $0
    Other
    $9,403
    Hours/week
    40

  • Yasin Ozkilic

    PRINCIPAL

    Total calculated
    $110,249
    From this org
    $100,595
    From related orgs
    $0
    Other
    $9,654
    Hours/week
    40

  • Magdalena Rivera

    PRINCIPAL

    Total calculated
    $115,929
    From this org
    $115,712
    From related orgs
    $0
    Other
    $217
    Hours/week
    40

  • Jessica Romero

    PRINCIPAL

    Total calculated
    $119,313
    From this org
    $111,410
    From related orgs
    $0
    Other
    $7,903
    Hours/week
    40

  • Mikail Yuksel

    DIRECTOR OF INFORMATION TECHNOLOGY

    Total calculated
    $115,348
    From this org
    $106,015
    From related orgs
    $0
    Other
    $9,333
    Hours/week
    40

  • Zekeriya Yuksel

    SENIOR DIRECTOR OF INTERNAL AUDIT

    Total calculated
    $125,400
    From this org
    $116,067
    From related orgs
    $0
    Other
    $9,333
    Hours/week
    40

  • Mustafa Kililoglu

    CHIEF FINANCE OFFICER

    Total calculated
    $127,943
    From this org
    $116,390
    From related orgs
    $0
    Other
    $11,553
    Hours/week
    40

  • Murat Tunca

    SENIOR DIRECTOR OF COLLEGE, CAREER AND SUPPO

    Total calculated
    $125,058
    From this org
    $115,655
    From related orgs
    $0
    Other
    $9,403
    Hours/week
    40

  • Mehmet Okumus

    DIRECTOR

    Total calculated
    $118,873
    From this org
    $111,589
    From related orgs
    $0
    Other
    $7,284
    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 · Written employment contract
  • 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.

Provenance

Return type
form_990
Tax year
2023
Filed
18 March 2025
IRS schema version
2023v6.0
Source object
202540779349300034

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