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Nonprofiteer
← 22BEACON INC

Form 990 for tax year 2022

Filed by 22BEACON INC.

Totals

Total revenue
$12,551,339
Total expenses
$7,899,598
Contributions and grants received
$7,628,008
Grants paid
$116,147
Program service revenue
$4,971,703
Investment income
-$48,372
Other revenue
$0
Total assets, end of year
$136,626,734
Total liabilities, end of year
$61,874,405
Net assets or fund balances, end of year
$74,752,329
Program services expenses (Part IX)
$5,652,790
Management and general expenses
$2,246,808
Fundraising expenses
$0
Program service expenses (Part III)
$5,652,790

Program services were 71.6% 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.

  • 1d · Related organizations

    $7,102,008

  • 1e · Government grants (contributions)

    $526,000

  • 2a · Program service revenue: INTEREST INCOME - CDFI

    total $2,485,303 · related or exempt $2,485,303

  • 2b · Program service revenue: RENTAL INCOME

    total $2,036,244 · related or exempt $2,036,244

  • 2c · Program service revenue: DEVELOPER'S FEES

    total $315,351 · related or exempt $315,351

  • 2d · Program service revenue: LOAN ORIGINATION FEE INCOME

    total $98,727 · related or exempt $98,727

  • 2e · Program service revenue: CREDIT ENHANCEMENT FEES

    total $36,078 · related or exempt $36,078

  • 3 · Investment income

    total $112,952 · excluded $112,952

  • 7a · Gross sales of assets other than inventory

    other assets $27,276

  • 7b · Less cost or other basis and sales expenses

    other assets $188,600

  • 7c · Gain or loss

    other assets -$161,324

  • 7d · Net gain or loss

    total -$161,324 · excluded -$161,324

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $116,147 · program services $116,147

  • 5 · Compensation of officers, directors and key employees

    total $2,122,079 · program services $1,259,760 · management and general $862,319

  • 7 · Other salaries and wages

    total $313,511 · program services $119,627 · management and general $193,884

  • 8 · Pension plan contributions

    total $41,812 · program services $23,030 · management and general $18,782

  • 9 · Other employee benefits

    total $148,039 · program services $92,448 · management and general $55,591

  • 10 · Payroll taxes

    total $134,007 · program services $80,404 · management and general $53,603

  • 11b · Fees: legal

    total $225,544 · program services $146,604 · management and general $78,940

  • 11c · Fees: accounting

    total $77,417 · program services $50,321 · management and general $27,096

  • 11g · Fees: other

    total $102,957 · program services $66,923 · management and general $36,034

  • 12 · Advertising and promotion

    total $35,911 · program services $17,956 · management and general $17,955

  • 13 · Office expenses

    total $65,385 · program services $16,726 · management and general $48,659

  • 14 · Information technology

    total $73,013 · program services $25,555 · management and general $47,458

  • 16 · Occupancy

    total $1,180,520 · program services $470,681 · management and general $709,839

  • 17 · Travel

    total $204,557 · program services $143,922 · management and general $60,635

  • 20 · Interest

    total $2,557,047 · program services $2,557,047

  • 22 · Depreciation, depletion and amortization

    total $244,981 · program services $242,531 · management and general $2,450

  • 23 · Insurance

    total $77,132 · program services $57,849 · management and general $19,283

  • 24a · Other expenses: LOAN LOSSES

    total $144,000 · program services $144,000

  • 24b · Other expenses: REPRESENTATION FEES

    total $17,547 · program services $14,038 · management and general $3,509

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $10,715 · management and general $10,715

  • 24d · Other expenses: LOANS AND FEES

    total $7,221 · program services $7,221

  • 24e · All other expenses

    total $56 · management and general $56

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $58,415,225 · end of year $67,892,069

  • 2 · Savings and temporary cash investments

    beginning of year $17,739,346 · end of year $9,349,260

  • 4 · Accounts receivable

    beginning of year $242,817 · end of year $458,100

  • 7 · Other notes and loans receivable

    beginning of year $50,823,908 · end of year $49,424,774

  • 9 · Prepaid expenses and deferred charges

    beginning of year $24,381 · end of year $37,791

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

    $8,581,413

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

    $2,691,170

  • 10c · Land, buildings and equipment, net

    beginning of year $6,271,974 · end of year $5,890,243

  • 14 · Intangible assets

    beginning of year $0 · end of year $9,919

  • 15 · Other assets

    beginning of year $3,554,553 · end of year $3,564,578

  • 17 · Accounts payable and accrued expenses

    beginning of year $976,581 · end of year $496,777

  • 19 · Deferred revenue

    beginning of year $311,274 · end of year $183,011

  • 23 · Secured mortgages and notes payable

    beginning of year $62,720,075 · end of year $58,247,517

  • 24 · Unsecured notes and loans payable

    beginning of year $2,827,803 · end of year $2,057,986

  • 25 · Other liabilities

    beginning of year $135,883 · end of year $889,114

  • 27 · Net assets without donor restrictions

    beginning of year $10,292,179 · end of year $14,693,388

  • 28 · Net assets with donor restrictions

    beginning of year $59,808,409 · end of year $60,058,941

Mission and programs · 2022

Mission

CSDC IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) ESTABLISHED TO ASSIST PUBLIC CHARTER SCHOOLS IN THE ACQUISITION AND FINANCING OF EDUCATIONAL FACILITIES AND RELATED CAPITAL IMPROVEMENTS.

Activities or mission (Part I)

FINANCING AND BUILDING GREAT PUBLIC CHARTER SCHOOLS.

  • PROVIDING LOANS, CREDIT ENHANCEMENTS, FINANCING GUARANTEES, FACILITY DEVELOPMENT AND MANAGEMENT SUPPORT TO CHARTER SCHOOLS.

    Expenses $5,652,790 · Grants $116,147 · Revenue $4,971,703

As filed on the 2022 return.

Listed in Part VII

  • Michael Curran

    CHAIR-INCOMING

    Total calculated
    $28,000
    From this org
    $28,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 4 related

  • Tom Nida

    CHAIR-OUTGOING

    Total calculated
    $11,000
    From this org
    $11,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 4 related

  • Ember Reichgott Junge

    VICE CHAIR

    Total calculated
    $10,000
    From this org
    $10,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 4 related

  • Jim Goenner

    DIRECTOR & TREASURER

    Total calculated
    $17,000
    From this org
    $17,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 4 related

  • Lanette Dailey-Reese

    DIRECTOR & SECRETARY

    Total calculated
    $17,000
    From this org
    $17,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 2 related

  • Jay Hromatka

    DIRECTOR

    Total calculated
    $12,500
    From this org
    $12,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 4 related

  • Leo Valdez

    DIRECTOR

    Total calculated
    $13,500
    From this org
    $13,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 2 related

  • Christina Ryan Digiulian

    DIRECTOR

    Total calculated
    $18,500
    From this org
    $18,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2 + 2 related

  • Alvin Dubin

    PRESIDENT/CEO (OUTGOING)

    Total calculated
    $365,898
    From this org
    $345,308
    From related orgs
    $0
    Other
    $20,590
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $55,833
    Bonus
    $279,167
    Other
    $10,308
    Deferred
    $20,500
    Nontaxable benefits
    $90
    Filer's total
    $365,898

  • Laura Fiemann

    CHIEF DEVELOPMENT OFFICER

    Total calculated
    $357,328
    From this org
    $315,017
    From related orgs
    $0
    Other
    $42,311
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $230,500
    Bonus
    $84,517
    Other
    $0
    Deferred
    $12,485
    Nontaxable benefits
    $29,826
    Filer's total
    $357,328

  • Annette High

    VP OF ACCOUNTING

    Total calculated
    $238,348
    From this org
    $190,082
    From related orgs
    $0
    Other
    $48,266
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $141,500
    Bonus
    $48,582
    Other
    $0
    Deferred
    $17,999
    Nontaxable benefits
    $30,267
    Filer's total
    $238,348

  • Michelle Prosperi

    CHIEF OPERATING OFFICER

    Total calculated
    $393,995
    From this org
    $337,908
    From related orgs
    $0
    Other
    $56,087
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $247,250
    Bonus
    $90,658
    Other
    $0
    Deferred
    $20,500
    Nontaxable benefits
    $35,587
    Filer's total
    $393,995

  • Rebecca Secrest

    SENIOR VICE PRESIDENT

    Total calculated
    $246,601
    From this org
    $219,350
    From related orgs
    $0
    Other
    $27,251
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $160,500
    Bonus
    $58,850
    Other
    $0
    Deferred
    $15,649
    Nontaxable benefits
    $11,602
    Filer's total
    $246,601

  • Mark Zeizel

    VICE PRESIDENT

    Total calculated
    $251,045
    From this org
    $205,587
    From related orgs
    $0
    Other
    $45,458
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $151,725
    Bonus
    $53,862
    Other
    $0
    Deferred
    $20,500
    Nontaxable benefits
    $24,958
    Filer's total
    $251,045

  • Alan Washington

    PRESIDENT/CEO (INCOMING)

    Total calculated
    $141,365
    From this org
    $128,083
    From related orgs
    $0
    Other
    $13,282
    Hours/week
    40 + 2 related

  • Shanta Bacon

    SENIOR PROJECT ACCOUNTANT

    Total calculated
    $141,819
    From this org
    $106,084
    From related orgs
    $0
    Other
    $35,735
    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 · Form 990 of other organizations
  • 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

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.

  • CSDC FACILITIES CORPORATION

    501(C)(3) · FINANCING, DEVELOPMENT AND MANAGEMENT OF CHARTER SCHOOL FACILITIES · DC · controlled entity

    Directly controlled by CHARTER SCHOOLS DEVELOPMENT CORPORATION

  • CSDC PROPERTY CORPORATION

    501(C)(4) · FOSTER THE COMMON GOOD AND GENERAL WELFARE OF THE AMERICAN PUBLIC · AZ · controlled entity

    Directly controlled by CHARTER SCHOOLS DEVELOPMENT CORPORATION

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.

  • CROSSROADS MASTER TENANT LLC

    REAL ESTATE AND LOAN FINANCING · DE · income $859,627 · assets $6,977,668

    Directly controlled by CHARTER SCHOOLS DEVELOPMENT CORPORATION

  • MCCURDY MASTER TENANT LLC

    REAL ESTATE AND LOAN FINANCING · DE · income $910,335 · assets $5,930,010

    Directly controlled by CHARTER SCHOOLS DEVELOPMENT CORPORATION

Provenance

Return type
form_990
Tax year
2022
Filed
16 October 2023
IRS schema version
2022v5.0
Source object
202342919349301624

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