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Nonprofiteer
← ASHLAND SCHOOL INC

Form 990 for tax year 2023

Filed by ASHLAND SCHOOL INC.

Totals

Total revenue
$4,679,557
Total expenses
$3,401,645
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$4,446,447
Investment income
$233,110
Other revenue
$0
Total assets, end of year
$56,804,648
Total liabilities, end of year
$52,494,088
Net assets or fund balances, end of year
$4,310,560
Program services expenses (Part IX)
$3,380,695
Management and general expenses
$20,950
Fundraising expenses
$0
Program service expenses (Part III)
$3,380,695

Program services were 99.4% 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: RENT

    total $4,446,447 · related or exempt $4,446,447

  • 3 · Investment income

    total $233,110 · excluded $233,110

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $1,869 · program services $1,869

  • 11c · Fees: accounting

    total $20,950 · management and general $20,950

  • 11g · Fees: other

    total $3,500 · program services $3,500

  • 20 · Interest

    total $2,168,671 · program services $2,168,671

  • 22 · Depreciation, depletion and amortization

    total $1,148,427 · program services $1,148,427

  • 23 · Insurance

    total $31,925 · program services $31,925

  • 24a · Other expenses: MISCELLANEOUS

    total $26,303 · program services $26,303

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $4,852,559 · end of year $5,397,160

  • 4 · Accounts receivable

    beginning of year $282,026 · end of year $334,883

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

    $59,220,732

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

    $8,554,360

  • 10c · Land, buildings and equipment, net

    beginning of year $51,814,799 · end of year $50,666,372

  • 15 · Other assets

    beginning of year $439,210 · end of year $406,233

  • 17 · Accounts payable and accrued expenses

    beginning of year $399,698 · end of year $440,272

  • 20 · Tax-exempt bond liabilities

    beginning of year $20,278,215 · end of year $20,181,610

  • 25 · Other liabilities

    beginning of year $33,678,033 · end of year $31,872,206

  • 27 · Net assets without donor restrictions

    beginning of year $3,032,648 · end of year $4,310,560

Mission and programs · 2023

Mission

ASHLAND WAS ORGANIZED EXCLUSIVELY FOR THE BENEFIT OF, OR TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF THE FRIENDS OF TEAM CHARTER SCHOOLS, INC. (FOT), A NEW JERSEY NON-PROFIT ORGANIZATION AND A PUBLIC CHARITY FOR PURPOSES OF SECTION 501(C)3 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.

Activities or mission (Part I)

ASHLAND SCHOOL, INC. (ASHLAND) WAS ORGANIZED EXCLUSIVELY FOR THE BENEFIT OF, OR TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF THE FRIENDS OF TEAM CHARTER SCHOOLS, INC. (FOT), A NEW JERSEY NON-PROFIT ORGANIZATION AND A PUBLIC CHARITY FOR PURPOSES OF SECTION 501(C)3 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.

  • RENTAL INCOME FROM PROPERTIES LOCATED AT 229 18TH AVENUE IN NEWARK, NJ, 85 CUSTER AVENUE IN NEWARK, NJ AND 21 ASHLAND STREET IN NEWARK, NJ. ALL PROPERTIES ARE SCHOOLS WHICH ARE LEASED TO THE TEAM ACADEMY CHARTER SCHOOLS, INC. (TEAM), A NEW JERSEY CHARTER SCHOOL, WHICH FALLS DIRECTLY WITHIN THE SCOPE OF ASHLAND'S MISSION STATEMENT.

    Expenses $3,380,695 · Revenue $4,446,447

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

Listed in Part VII

  • Jordan Metzger

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2 + 5 related

  • Daniel Adan

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Hannah Richman

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Gabriella Difilippo

    NON-VOTING SECRETARY

    Total calculated
    $0
    Hours/week
    2 + 7 related

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
2023
Filed
8 May 2025
IRS schema version
2023v6.0
Source object
202501349349306665

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