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Nonprofiteer
← BLUEPRINT

Form 990 for tax year 2023

Filed by BLUEPRINT.

Totals

Total revenue
$30,591,578
Total expenses
$5,151,672
Contributions and grants received
$25,939,451
Grants paid
$0
Program service revenue
$2,576,084
Investment income
$2,039,649
Other revenue
$36,394
Total assets, end of year
$103,218,587
Total liabilities, end of year
$39,199,575
Net assets or fund balances, end of year
$64,019,012
Program services expenses (Part IX)
$3,902,261
Management and general expenses
$1,001,711
Fundraising expenses
$247,700
Program service expenses (Part III)
$3,902,261

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.

  • 1d · Related organizations

    $5,925,951

  • 1f · All other contributions, gifts and grants

    $20,013,500

  • 2a · Program service revenue: INV GAIN ON NOTES REC.

    total $255,917 · related or exempt $255,917

  • 2b · Program service revenue: MGMT & CONSULTING FEES

    total $1,969,813 · related or exempt $1,969,813

  • 2c · Program service revenue: RENTAL & MGMT INCOME

    total $350,354 · related or exempt $350,354

  • 3 · Investment income

    total $2,039,649 · excluded $2,039,649

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: MISCELLANEOUS

    total $36,394 · excluded $36,394

  • 11e · Other revenue, total

    $36,394

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $847,822 · program services $635,866 · management and general $169,565 · fundraising $42,391

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $2,501,011 · program services $1,875,758 · management and general $500,202 · fundraising $125,051

  • 8 · Pension plan contributions

    total $110,705 · program services $83,029 · management and general $22,141 · fundraising $5,535

  • 9 · Other employee benefits

    total $368,089 · program services $276,067 · management and general $73,618 · fundraising $18,404

  • 10 · Payroll taxes

    total $236,518 · program services $177,388 · management and general $47,304 · fundraising $11,826

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $20,505 · management and general $20,505

  • 11c · Fees: accounting

    total $49,988 · management and general $49,988

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $262,452 · program services $256,830 · management and general $4,473 · fundraising $1,149

  • 12 · Advertising and promotion

    total $20,349 · fundraising $20,349

  • 13 · Office expenses

    total $75,012 · program services $57,582 · management and general $14,149 · fundraising $3,281

  • 14 · Information technology

    total $9,088 · program services $6,816 · management and general $1,818 · fundraising $454

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $231,123 · program services $173,705 · management and general $45,934 · fundraising $11,484

  • 17 · Travel

    total $124,116 · program services $103,385 · management and general $14,525 · fundraising $6,206

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $12,304 · management and general $12,304

  • 20 · Interest

    total $132,804 · program services $132,804

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $88,759 · program services $71,007 · management and general $17,752

  • 24a · Other expenses: OTHER EXPENSES

    total $61,027 · program services $52,024 · management and general $7,433 · fundraising $1,570

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $12,986 · end of year $302,334

  • 2 · Savings and temporary cash investments

    beginning of year $45,486,558 · end of year $45,716,822

  • 3 · Pledges and grants receivable

    beginning of year $2,000,000 · end of year $20,000,000

  • 4 · Accounts receivable

    beginning of year $189,719 · end of year $414,799

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $14,070,038 · end of year $15,883,958

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $66,292 · end of year $119,177

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

    $20,677,584

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

    $77,744

  • 10c · Land, buildings and equipment, net

    beginning of year $13,751,613 · end of year $20,599,840

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    beginning of year $288,574 · end of year $181,657

  • 17 · Accounts payable and accrued expenses

    beginning of year $336,486 · end of year $2,604,603

  • 23 · Secured mortgages and notes payable

    beginning of year $4,756,710 · end of year $10,293,231

  • 24 · Unsecured notes and loans payable

    beginning of year $27,580,000 · end of year $21,830,000

  • 25 · Other liabilities

    beginning of year $4,647,714 · end of year $4,471,741

  • 27 · Net assets without donor restrictions

    beginning of year $33,544,870 · end of year $59,019,012

  • 28 · Net assets with donor restrictions

    beginning of year $5,000,000 · end of year $5,000,000

Mission and programs · 2023

Mission

PACIFIC CHARTER SCHOOL DEVELOPMENT IS A NON-PROFIT REAL ESTATE DEVELOPMENT ORGANIZATION PROVIDING LOW-COST FACILITIES TO HIGH-QUALITY CHARTER SCHOOLS

Activities or mission (Part I)

TO DISMANTLE SYSTEMIC INEQUALITY IN EDUCATION BY EXPANDING EDUCATIONAL OPPORTUNITIES FOR STUDENTS IN UNDER-RESOURCED COMMUNITIES.

  • PACIFIC CHARTER SCHOOL DEVELOPMENT (PCSD) IS ACCELERATING THE PACE OF URBAN SCHOOL REFORM AS A NON-PROFIT DEVELOPER FOR PUBLIC CHARTER SCHOOL FACILITIES. BY PARTNERING WITH SOME OF THE NATION'S HIGHEST PERFORMING ORGANIZATIONS THAT OPERATE SCHOOLS SERVING LOW-INCOME STUDENTS, WE ARE HELPING THESE GROUPS EXPAND AND SERVE MORE FAMILIES. WE CREATE SMALL, ACADEMICALLY-FRIENDLY, SUSTAINABLE AND ENVIRONMENTALLY-RESPONSIBLE CHARTER SCHOOL CAMPUSES AT A FRACTION OF THE "COST-PER-SEAT" INCURRED BY TRADITIONAL PUBLIC SCHOOL SYSTEMS. TO DATE, PCSD HAS COMPLETED NEARLY $1 BILLION IN TOTAL PROJECTS, LEVERAGING PHILANTHROPY, PRIVATE FINANCING, AND STATE FUNDING TO CREATE 115 FACILITIES SERVING 46,703 STUDENTS ACROSS MULTIPLE SCHOOL DISTRICTS AND MUNICIPALITIES. AT EACH PCSD CAMPUS EXCEPT ONE, AT LEAST 75% OF THE STUDENTS RECEIVE FREE OR REDUCED-PRICE MEALS THROUGH THE FEDERAL NATIONAL SCHOOL LUNCH PROGRAM. PCSD BUILDS PUBLIC CHARTER SCHOOLS THAT PROVIDE SMALLER, MORE CUSTOMIZED LEARNING ENVIRONMENTS THAT ARE YIELDING SUPERIOR ACADEMIC RESULTS. CHARTER SCHOOLS ARE FREE PUBLIC SCHOOLS. ADMISSION IS OPEN TO ALL AND DETERMINED BY AN UNBIASED LOTTERY OF THE APPLICANTS TO THE SCHOOL. THE DEMAND FOR CHARTER SCHOOLS CONTINUES TO GROW AS MORE PARENTS BECOME AWARE OF THIS OPPORTUNITY FOR THEIR CHILDREN. PCSD IS AT THE FOREFRONT OF MAKING THIS TRANSFORMATIVE CHANGE IN K-12 PUBLIC EDUCATION. VIA THE PROJECT DEVELOPMENT PROCESS, PCSD HELPS SCHOOLS OVERCOME TREMENDOUS BARRIERS TO FIND, FINANCE, ENTITLE, BUILD AND SECURE FACILITIES. PCSD'S DEVELOPMENT FEE, AT 5% OF PROJECT COST, IS BELOW MARKET. AS A LANDLORD, PCSD CHARGES A BELOW-MARKET RENT. WHEN EACH CHARTER SCHOOL TENANT REACHES A STATE OF MATURITY DEFINED BY METRICS INVOLVING ACADEMIC AND FINANCIAL PERFORMANCE AND COMMUNITY SUPPORT, PCSD WORKS WITH EACH SCHOOL'S LEADERSHIP TEAM TO SECURE LONG-TERM FINANCING TO SUPPORT THE PURCHASE OF THEIR CAMPUSES AT COST FROM PCSD. IN DOING SO, CHARTER SCHOOLS ACQUIRE REAL ASSETS AND LONG-TERM BALANCE SHEET STABILITY WHILE PCSD RECYCLES COMMITTED EQUITY SO EACH PHILANTHROPIC DOLLAR GENERATES ADDITIONAL CHARTER SCHOOL SEATS MANY TIMES OVER. PCSD'S PARTNERS CONTINUE TO INCLUDE SOME OF THE LEADING FOUNDATIONS INVOLVED IN URBAN EDUCATION REFORM: THE AHMANSON FOUNDATION, BROAD FOUNDATION, WALTON FAMILY FOUNDATION AND W.M. KECK FOUNDATION. THESE ORGANIZATIONS HAVE BEEN ABLE TO SEED THE ACTIVITIES OF PCSD WITH LARGE ENOUGH SUPPORT TO JUMPSTART PCSD'S CAPITAL INTENSIVE BUSINESS MODEL.

    Expenses $3,902,261 · Revenue $2,320,167

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

Listed in Part VII

  • John Sun

    CEO

    Total calculated
    $376,776
    From this org
    $344,010
    From related orgs
    $0
    Other
    $32,766
    Hours/week
    18 + 22 related

    Schedule J breakdown matched by us

    Base
    $294,010
    Bonus
    $50,000
    Other
    not reported
    Deferred
    $10,589
    Nontaxable benefits
    $22,177
    Filer's total
    $376,776

  • Kahlmus Eatman

    COO

    Total calculated
    $243,373
    From this org
    $212,689
    From related orgs
    $0
    Other
    $30,684
    Hours/week
    32 + 8 related

    Schedule J breakdown matched by us

    Base
    $202,552
    Bonus
    $10,137
    Other
    not reported
    Deferred
    $8,507
    Nontaxable benefits
    $22,177
    Filer's total
    $243,373

  • James Huegas

    EXEC DIR - WASH

    Total calculated
    $231,405
    From this org
    $201,262
    From related orgs
    $0
    Other
    $30,143
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $188,084
    Bonus
    $13,178
    Other
    not reported
    Deferred
    $8,050
    Nontaxable benefits
    $22,093
    Filer's total
    $231,405

  • Scarlet Sy

    CFO

    Total calculated
    $227,673
    From this org
    $204,567
    From related orgs
    $0
    Other
    $23,106
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $194,817
    Bonus
    $9,750
    Other
    not reported
    Deferred
    $8,183
    Nontaxable benefits
    $14,923
    Filer's total
    $227,673

  • Jennifer Afdahl-Rice

    EXEC DIR - BAY

    Total calculated
    $224,068
    From this org
    $191,548
    From related orgs
    $0
    Other
    $32,520
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $182,419
    Bonus
    $9,129
    Other
    not reported
    Deferred
    $6,173
    Nontaxable benefits
    $26,347
    Filer's total
    $224,068

  • Joe Wilson

    PROJECT MANAGER

    Total calculated
    $203,326
    From this org
    $174,182
    From related orgs
    $0
    Other
    $29,144
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $159,396
    Bonus
    $14,786
    Other
    not reported
    Deferred
    $6,967
    Nontaxable benefits
    $22,177
    Filer's total
    $203,326

  • Keivan Abidi

    PROJECT DIRECTOR

    Total calculated
    $192,292
    From this org
    $165,945
    From related orgs
    $0
    Other
    $26,347
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $158,036
    Bonus
    $7,909
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $26,347
    Filer's total
    $192,292

  • Tina Lin

    VP OF FINANCE

    Total calculated
    $186,681
    From this org
    $172,468
    From related orgs
    $0
    Other
    $14,213
    Hours/week
    24 + 16 related

    Schedule J breakdown matched by us

    Base
    $160,999
    Bonus
    $11,469
    Other
    not reported
    Deferred
    $6,899
    Nontaxable benefits
    $7,314
    Filer's total
    $186,681

  • Eric Johnson

    Chairman

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Paul Habibi

    Secretary

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Alex Busch

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Reginald H Gilyard

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Eli Kennedy

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Delphine Sherman

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Eric Sussman

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 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. 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

  • 2 · Substantiation required before reimbursing expenses
  • 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.

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Provenance

Return type
form_990
Tax year
2023
Filed
2 October 2024
IRS schema version
2023v5.1
Source object
202432769349302083

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