Form 990 for tax year 2024
Filed by CHESAPEAKE LIGHTHOUSE FOUNDATION INC.
Totals
- Total revenue
- $65,275,806
- Total expenses
- $61,683,008
- Contributions and grants received
- $845,039
- Grants paid
- $18,583
- Program service revenue
- $63,939,183
- Investment income
- $460,333
- Other revenue
- $31,251
- Total assets, end of year
- $131,565,365
- Total liabilities, end of year
- $99,539,195
- Net assets or fund balances, end of year
- $32,026,170
- Program services expenses (Part IX)
- $48,769,709
- Management and general expenses
- $12,913,299
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $48,769,709
Program services were 79.1% 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)
$645,166
-
1f · All other contributions, gifts and grants
$199,873
-
2a · Program service revenue: PER PUPIL FUNDING
total $61,910,317 · related or exempt $61,910,317
-
2b · Program service revenue: ENRICHMENT FEES
total $2,028,866 · related or exempt $2,028,866
-
3 · Investment income
total $461,900 · excluded $461,900
-
7b · Less cost or other basis and sales expenses
other assets $1,567
-
7c · Gain or loss
other assets -$1,567
-
7d · Net gain or loss
total -$1,567 · excluded -$1,567
-
11a · Other revenue: CASH BACK REWARDS
total $31,251 · excluded $31,251
-
11e · Other revenue, total
$31,251
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $18,583 · program services $18,583
-
5 · Compensation of officers, directors and key employees
total $636,916 · program services $527,912 · management and general $109,004
-
7 · Other salaries and wages
total $31,497,943 · program services $26,107,273 · management and general $5,390,670
-
8 · Pension plan contributions
total $653,484 · program services $541,645 · management and general $111,839
-
9 · Other employee benefits
total $5,179,504 · program services $4,293,064 · management and general $886,440
-
10 · Payroll taxes
total $1,693,752 · program services $1,403,878 · management and general $289,874
-
11b · Fees: legal
total $79,470 · management and general $79,470
-
11c · Fees: accounting
total $51,683 · management and general $51,683
-
11g · Fees: other
total $3,813,761 · program services $736,917 · management and general $3,076,844
-
12 · Advertising and promotion
total $101,195 · program services $82,980 · management and general $18,215
-
13 · Office expenses
total $578,273 · program services $414,868 · management and general $163,405
-
16 · Occupancy
total $5,028,136 · program services $4,022,508 · management and general $1,005,628
-
17 · Travel
total $5,886 · program services $4,709 · management and general $1,177
-
19 · Conferences, conventions and meetings
total $27,872 · program services $22,298 · management and general $5,574
-
20 · Interest
total $2,497,050 · program services $1,997,640 · management and general $499,410
-
22 · Depreciation, depletion and amortization
total $4,737,739 · program services $3,790,191 · management and general $947,548
-
23 · Insurance
total $150,069 · program services $120,055 · management and general $30,014
-
24a · Other expenses: INSTRUCTIONAL MATERIALS
total $2,148,883 · program services $2,148,883
-
24b · Other expenses: REPAIRS AND MAINTENANCE
total $896,190 · program services $716,952 · management and general $179,238
-
24c · Other expenses: ENRICHMENT/EDUCATION
total $865,503 · program services $865,503
-
24d · Other expenses: BUS TRANSPORTATION
total $684,787 · program services $684,787
-
24e · All other expenses
total $336,329 · program services $269,063 · management and general $67,266
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $26,444,612 · end of year $19,586,110
-
2 · Savings and temporary cash investments
beginning of year $997,321 · end of year $801,401
-
3 · Pledges and grants receivable
beginning of year $2,881,546
-
4 · Accounts receivable
beginning of year $406,230 · end of year $263,392
-
9 · Prepaid expenses and deferred charges
beginning of year $259,353 · end of year $221,139
-
10a · Land, buildings and equipment: cost or other basis
$105,809,552
-
10b · Land, buildings and equipment: accumulated depreciation
$26,519,317
-
10c · Land, buildings and equipment, net
beginning of year $65,002,321 · end of year $79,290,235
-
15 · Other assets
beginning of year $27,259,795 · end of year $31,403,088
-
17 · Accounts payable and accrued expenses
beginning of year $624,744 · end of year $911,400
-
19 · Deferred revenue
beginning of year $390,773 · end of year $1,256,104
-
23 · Secured mortgages and notes payable
beginning of year $62,767,561 · end of year $61,753,610
-
25 · Other liabilities
beginning of year $30,471,568 · end of year $35,618,081
-
27 · Net assets without donor restrictions
beginning of year $28,996,532 · end of year $32,026,170
Mission and programs · 2024
Mission
TO ATTAIN EDUCATIONAL EXCELLENCE BY PROVIDING A RIGOROUS AND TECHNOLOGY-INTEGRATED EDUCATION FOR K-12 STUDENTS WITH AN EMPHASIS ON MATHEMATICS, SCIENCE, AND INFORMATION TECHNOLOGIES.
Activities or mission (Part I)
TO PROVIDE A RIGOROUS AND QUALITY EDUCATION FOR KINDERGARTEN THROUGH 12TH GRADE STUDENTS WITH A SPECIAL FOCUS ON MATH, SCIENCE AND TECHNOLOGY.
-
THE PRIMARY PURPOSE OF THE FOUNDATION IS TO OPERATE ONE OR MORE PUBLIC CHARTER SCHOOLS OR OTHER CHOICE SCHOOLS IN THE STATE OF MARYLAND IN ACCORDANCE WITH MARYLAND SENATE BILL 75 OF 2003.
Expenses $48,769,709 · Grants $18,583 · Revenue $63,939,183
As filed on the 2024 return.
Listed in Part VII
-
Dr Musa SubasiDR MUSA SUBASI
BOARD PRESIDENT
- Total calculated
- $0
- Hours/week
- 5
-
Dr Mustafa SefikDR MUSTAFA SEFIK
TREASURER
- Total calculated
- $0
- Hours/week
- 5
-
Francis HawkinsFRANCIS HAWKINS
SECRETARY UNTIL AUG. 2024
- Total calculated
- $0
- Hours/week
- 5
-
Ferhat AvsarFERHAT AVSAR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Yildiz TeberYILDIZ TEBER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Claudia ChangCLAUDIA CHANG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Cathyann AndrewsCATHYANN ANDREWS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Lutfi OnLUTFI ON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Ibrahim InciIBRAHIM INCI
DIRECTOR AS OF JUNE 2025
- Total calculated
- $0
- Hours/week
- 5
-
Jacquliune FosterJACQULIUNE FOSTER
DIRECTOR AS OF JUNE 2025
- Total calculated
- $0
- Hours/week
- 2
-
Valorie SandersVALORIE SANDERS
CSP BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
David KravatsDAVID KRAVATS
CSP BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Saher KhanSAHER KHAN
CSP BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Chris McGradyCHRIS MCGRADY
CSP BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Marcus ParkerMARCUS PARKER
DIRECTOR UNTIL OCT. 2024
- Total calculated
- $0
- Hours/week
- 5
-
Zayn AkZAYN AK
CEO
- Total calculated
- $240,064
- From this org
- $202,682
- From related orgs
- $0
- Other
- $37,382
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $202,682
- Bonus
- $0
- Other
- $0
- Deferred
- $14,406
- Nontaxable benefits
- $22,976
- Filer's total
- $240,064
-
Vedat DoganVEDAT DOGAN
CFO
- Total calculated
- $187,205
- From this org
- $147,311
- From related orgs
- $0
- Other
- $39,894
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $147,311
- Bonus
- $0
- Other
- $0
- Deferred
- $10,530
- Nontaxable benefits
- $29,364
- Filer's total
- $187,205
-
Erkan DerinERKAN DERIN
DIRECTOR OF OPERATIONS
- Total calculated
- $191,886
- From this org
- $151,558
- From related orgs
- $0
- Other
- $40,328
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $151,558
- Bonus
- $0
- Other
- $0
- Deferred
- $10,964
- Nontaxable benefits
- $29,364
- Filer's total
- $191,886
-
Tekin TuncerTEKIN TUNCER
DIRECTOR OF ACCOUNTABILITY
- Total calculated
- $190,146
- From this org
- $149,927
- From related orgs
- $0
- Other
- $40,219
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $149,927
- Bonus
- $0
- Other
- $0
- Deferred
- $10,855
- Nontaxable benefits
- $29,364
- Filer's total
- $190,146
-
Tayyar MollaaliogluTAYYAR MOLLAALIOGLU
IT INFRASTRUCTURE MANAGER
- Total calculated
- $154,681
- From this org
- $116,916
- From related orgs
- $0
- Other
- $37,765
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $116,916
- Bonus
- $0
- Other
- $0
- Deferred
- $8,401
- Nontaxable benefits
- $29,364
- Filer's total
- $154,681
-
Beverly Donovan EducationBEVERLY DONOVAN EDUCATION
STRATEGY & COMMUNICATIONS
- Total calculated
- $192,663
- From this org
- $152,932
- From related orgs
- $0
- Other
- $39,731
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $152,932
- Bonus
- $0
- Other
- $0
- Deferred
- $10,887
- Nontaxable benefits
- $28,844
- Filer's total
- $192,663
-
Ashish VadaliaASHISH VADALIA
STEM AND OUTREACH MANAGER
- Total calculated
- $148,091
- From this org
- $120,357
- From related orgs
- $0
- Other
- $27,734
- Hours/week
- 40
-
Aydogan KarabulutAYDOGAN KARABULUT
DIRECTOR OF IT
- Total calculated
- $183,801
- From this org
- $143,995
- From related orgs
- $0
- Other
- $39,806
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $143,995
- Bonus
- $0
- Other
- $0
- Deferred
- $10,442
- Nontaxable benefits
- $29,364
- Filer's total
- $183,801
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.
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.
-
CHESAPEAKE EDUCATION SERVICES LLC
TO OWN, OPERATE, LEASE, AND MAINTAIN REAL ESTATE AS A PUBLIC CHARTER SCHOOL. · MD · income $6,845,500 · assets $66,241,544
Directly controlled by CHESAPEAKE LIGHTHOUSE FOUNDATION
-
CHESAPEAKE SCIENCE POINT CHARTER SCHOOL LLC
TO OPERATE ONE OR MORE CHARTER SCHOOLS IN MARYLAND. · MD · income $16,006,637 · assets $29,277,686
Directly controlled by CHESAPEAKE LIGHTHOUSE FOUNDATION
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 24 February 2026
- IRS schema version
- 2024v5.5
- Source object
- 202630559349300313
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