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Nonprofiteer
← TEAM ACADEMY CHARTER SCHOOL INC

Form 990 for tax year 2022

Filed by TEAM ACADEMY CHARTER SCHOOL INC.

Totals

Total revenue
$156,931,250
Total expenses
$150,297,552
Contributions and grants received
$156,732,093
Grants paid
$0
Program service revenue
$199,157
Investment income
$0
Other revenue
$0
Total assets, end of year
$244,834,103
Total liabilities, end of year
$222,104,216
Net assets or fund balances, end of year
$22,729,887
Program services expenses (Part IX)
$113,844,082
Management and general expenses
$35,652,022
Fundraising expenses
$801,448
Program service expenses (Part III)
$113,844,082

Program services were 75.7% 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)

    $152,453,935

  • 1f · All other contributions, gifts and grants

    $4,278,158

  • 2a · Program service revenue: FOOD SERVICE

    total $199,157 · related or exempt $199,157

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $60,972,820 · program services $51,834,939 · management and general $9,137,881

  • 8 · Pension plan contributions

    total $3,264,125 · program services $2,774,937 · management and general $489,188

  • 9 · Other employee benefits

    total $8,872,125 · program services $7,542,476 · management and general $1,329,649

  • 10 · Payroll taxes

    total $3,739,631 · program services $3,179,180 · management and general $560,451

  • 11b · Fees: legal

    total $63,934 · management and general $63,934

  • 11c · Fees: accounting

    total $112,493 · management and general $112,493

  • 11g · Fees: other

    total $19,265,968 · program services $2,948,720 · management and general $15,515,800 · fundraising $801,448

  • 16 · Occupancy

    total $3,427,289 · program services $2,913,648 · management and general $513,641

  • 20 · Interest

    total $5,674,353 · program services $4,823,948 · management and general $850,405

  • 22 · Depreciation, depletion and amortization

    total $8,959,445 · program services $7,616,710 · management and general $1,342,735

  • 23 · Insurance

    total $776,294 · program services $659,952 · management and general $116,342

  • 24a · Other expenses: TPAF EXPENSES

    total $16,405,043 · program services $13,946,450 · management and general $2,458,593

  • 24b · Other expenses: SUPPLIES

    total $12,059,373 · program services $8,898,463 · management and general $3,160,910

  • 24c · Other expenses: FOOD SERVICE

    total $4,626,860 · program services $4,626,860

  • 24d · Other expenses: OTHER PURCHASED SERVICE

    total $2,077,799 · program services $2,077,799

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $26,867,735 · end of year $27,481,619

  • 3 · Pledges and grants receivable

    beginning of year $10,768,142 · end of year $11,395,438

  • 9 · Prepaid expenses and deferred charges

    beginning of year $713,289 · end of year $1,351,972

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

    $29,997,601

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

    $6,366,981

  • 10c · Land, buildings and equipment, net

    beginning of year $22,296,405 · end of year $23,630,620

  • 15 · Other assets

    beginning of year $143,216,338 · end of year $180,974,454

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,386,317 · end of year $7,315,870

  • 19 · Deferred revenue

    beginning of year $86,475 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $19,844,768 · end of year $21,114,999

  • 25 · Other liabilities

    beginning of year $158,448,160 · end of year $193,673,347

  • 29 · Capital stock, trust principal or current funds

    beginning of year $17,735,525 · end of year $28,304,579

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year -$1,639,336 · end of year -$5,574,692

  • 31 · Retained earnings, endowment or other funds

    beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

THE TEAM ACADEMY CHARTER SCHOOL IS A NEW JERSEY PUBLIC SCHOOL OVERSEEN BY THE STATE OF NEW JERSEY DEPARTMENT OF EDUCATION. THE SCHOOL OFFERS AN ACADEMIC PROGRAM TO ASSIST CHILDREN IN DISCOVERING THEIR TALENTS AND PROVIDES A COMMUNITY RESOURCE AND A MEANS TO UNITE PARENTS AND TEACHERS.

Activities or mission (Part I)

TEAM ACADEMY CHARTER SCHOOL IS A FREE, OPEN ENROLLMENT, COLLEGE-PREPARATORY PUBLIC SCHOOL DEDICATED TO PREPARING STUDENTS IN UNDERSERVED COMMUNITIES FOR SUCCESS IN COLLEGE AND LIFE.

  • THE TEAM ACADEMY CHARTER SCHOOL IS A NEW JERSEY PUBLIC SCHOOL OVERSEEN BY THE STATE OF NEW JERSEY DEPARTMENT OF EDUCATION. THE SCHOOL OFFERS AN ACADEMIC PROGRAM TO ASSIST CHILDREN IN DISCOVERING THEIR TALENTS AND PROVIDES A COMMUNITY RESOURCE AND A MEANS TO UNITE PARENTS AND TEACHERS.

    Expenses $113,844,082 · Revenue $199,157

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Tim Carden

    BOARD PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Sheila Boyd

    TRUSTEE (UNTIL 6/2023)

    Total calculated
    $0
    Hours/week
    2

  • Julie Keenan

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Kevin Morrison

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Rasheen Peppers

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Vince Marigna

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Ihsaan Brown

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Brendan Maher

    BOARD PRESIDENT (UNTIL 10/2022)

    Total calculated
    $0
    Hours/week
    2

  • Joanna Belcher

    EXECUTIVE DIRECTOR

    Total calculated
    $0
    Hours/week
    40

  • Steve Small

    CFO

    Total calculated
    $0
    Hours/week
    20

  • Arthur Dymir

    HEAD OF SCHOOLS

    Total calculated
    $187,602
    From this org
    $180,323
    From related orgs
    $0
    Other
    $7,279
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $180,323
    Bonus
    $0
    Other
    $0
    Deferred
    $900
    Nontaxable benefits
    $6,379
    Filer's total
    $187,602

  • Jenna Marcus

    HEAD OF SCHOOLS

    Total calculated
    $192,161
    From this org
    $172,056
    From related orgs
    $0
    Other
    $20,105
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $172,056
    Bonus
    $0
    Other
    $0
    Deferred
    $1,500
    Nontaxable benefits
    $18,605
    Filer's total
    $192,161

  • Antonia O'Sullivan

    SCHOOL LEADER

    Total calculated
    $195,969
    From this org
    $176,321
    From related orgs
    $0
    Other
    $19,648
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $176,321
    Bonus
    $0
    Other
    $0
    Deferred
    $1,500
    Nontaxable benefits
    $18,148
    Filer's total
    $195,969

  • Veronica Florez

    SCHOOL LEADER

    Total calculated
    $184,139
    From this org
    $182,939
    From related orgs
    $0
    Other
    $1,200
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $182,939
    Bonus
    $0
    Other
    $0
    Deferred
    $1,200
    Nontaxable benefits
    $0
    Filer's total
    $184,139

  • Mary Potter

    HEAD OF SCHOOLS

    Total calculated
    $184,363
    From this org
    $166,123
    From related orgs
    $0
    Other
    $18,240
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $166,123
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $18,240
    Filer's total
    $184,363

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 · 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
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202431369349311263

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