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Nonprofiteer
← TWO RIVERS PUBLIC CHARTER SCHOOL INC

Form 990 for tax year 2023

Filed by TWO RIVERS PUBLIC CHARTER SCHOOL INC.

Totals

Total revenue
$28,185,309
Total expenses
$28,534,075
Contributions and grants received
$27,768,023
Grants paid
$0
Program service revenue
$4,287
Investment income
$296,937
Other revenue
$116,062
Total assets, end of year
$54,537,008
Total liabilities, end of year
$44,780,352
Net assets or fund balances, end of year
$9,756,656
Program services expenses (Part IX)
$26,919,944
Management and general expenses
$1,427,195
Fundraising expenses
$186,936
Program service expenses (Part III)
$26,919,944

Program services were 94.3% 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)

    $27,486,422

  • 1f · All other contributions, gifts and grants

    $281,601

  • 2a · Program service revenue: PROGRAM SERVICE REVENUE

    total $4,287 · related or exempt $4,287

  • 3 · Investment income

    total $296,937 · excluded $296,937

  • 10a · Gross sales of inventory

    $116,062

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $116,062 · related or exempt $116,062

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $195,734 · program services $178,119 · management and general $15,658 · fundraising $1,957

  • 7 · Other salaries and wages

    total $14,682,538 · program services $13,423,336 · management and general $1,140,314 · fundraising $118,888

  • 8 · Pension plan contributions

    total $528,113 · program services $479,283 · management and general $44,224 · fundraising $4,606

  • 9 · Other employee benefits

    total $1,251,280 · program services $1,135,616 · management and general $104,734 · fundraising $10,930

  • 10 · Payroll taxes

    total $1,104,577 · program services $1,002,495 · management and general $92,423 · fundraising $9,659

  • 11b · Fees: legal

    total $23,491 · program services $23,491

  • 11c · Fees: accounting

    total $292,358 · program services $292,358

  • 11g · Fees: other

    total $185,517 · program services $180,667 · management and general $2,046 · fundraising $2,804

  • 13 · Office expenses

    total $246,602 · program services $244,216 · management and general $1,007 · fundraising $1,379

  • 14 · Information technology

    total $402,877 · program services $398,978 · management and general $1,645 · fundraising $2,254

  • 16 · Occupancy

    total $1,625,554 · program services $1,609,825 · management and general $6,635 · fundraising $9,094

  • 17 · Travel

    total $837 · program services $837

  • 20 · Interest

    total $1,859,847 · program services $1,841,853 · management and general $7,591 · fundraising $10,403

  • 22 · Depreciation, depletion and amortization

    total $2,255,049 · program services $2,233,232 · management and general $9,204 · fundraising $12,613

  • 23 · Insurance

    total $113,796 · program services $112,696 · management and general $464 · fundraising $636

  • 24a · Other expenses: DIRECT STUDENT COSTS

    total $2,935,913 · program services $2,935,913

  • 24b · Other expenses: PROFESSIONAL DEVELOPMEN

    total $314,062 · program services $314,062

  • 24c · Other expenses: AUTHORIZER FEES

    total $261,205 · program services $258,678 · management and general $1,066 · fundraising $1,461

  • 24d · Other expenses: OTHER STAFF EXPENSES

    total $148,049 · program services $148,049

  • 24e · All other expenses

    total $106,676 · program services $106,240 · management and general $184 · fundraising $252

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $495,637 · end of year $50,427

  • 2 · Savings and temporary cash investments

    beginning of year $12,703,264 · end of year $14,256,205

  • 3 · Pledges and grants receivable

    beginning of year $566,278 · end of year $326,371

  • 4 · Accounts receivable

    beginning of year $254,773 · end of year $11,413

  • 9 · Prepaid expenses and deferred charges

    beginning of year $459,295 · end of year $326,398

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

    $54,130,674

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

    $14,768,770

  • 10c · Land, buildings and equipment, net

    beginning of year $40,632,139 · end of year $39,361,904

  • 15 · Other assets

    beginning of year $382,638 · end of year $204,290

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,167,351 · end of year $1,178,712

  • 19 · Deferred revenue

    beginning of year $88,934 · end of year $41,338

  • 23 · Secured mortgages and notes payable

    beginning of year $43,406,616 · end of year $42,746,499

  • 25 · Other liabilities

    beginning of year $783,456 · end of year $813,803

  • 27 · Net assets without donor restrictions

    beginning of year $10,047,667 · end of year $9,738,656

  • 28 · Net assets with donor restrictions

    end of year $18,000

Mission and programs · 2023

Mission

TWO RIVERS MISSION: TO NURTURE A DIVERSE GROUP OF STUDENTS TO BECOME LIFELONG, ACTIVE PARTICIPANTS IN THEIR OWN EDUCATION, DEVELOP A SENSE OF SELF AND COMMUNITY, AND BECOME RESPONSIBLE AND COMPASSIONATE MEMBERS OF SOCIETY.

Activities or mission (Part I)

TO NURTURE A DIVERSE GROUP OF STUDENTS TO BECOME LIFELONG, ACTIVE PARTICIPANTS IN THEIR EDUCATION, DEVELOP A SENSE OF SELF AND COMMUNITY, AND BECOME RESPONSIBLE AND COMPASSIONATE MEMBERS OF SOCIETY.

  • ESTABLISHED A PUBLIC CHARTER SCHOOL IN WASHINGTON, D.C. THAT IS OPEN TO ANY D.C. CHILD IN GRADES PRESCHOOL THROUGH GRADE EIGHT.

    Expenses $26,919,944 · Revenue $120,349

As filed on the 2023 return.

Listed in Part VII

  • Gregg Treml

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Ahnna Smith

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Kimberly Eddings

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Ben Robins

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Elle Carne

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Lauren Hamilton-Edward

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Elaine Hou

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Malik Husser

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Alvincent Hutson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • John Phillips

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Derek Pierce

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Jessica Proffitt

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Michael Murphy

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Erin Sheehy

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Cara Williams

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Aswathi Zachariah

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Belicia Reaves

    EXECUTIVE DIRECTOR

    Total calculated
    $83,685
    From this org
    $79,607
    From related orgs
    $0
    Other
    $4,078
    Hours/week
    40

  • Kenneth McCants-Pearsall

    CAO

    Total calculated
    $128,238
    From this org
    $118,623
    From related orgs
    $0
    Other
    $9,615
    Hours/week
    40

  • Aurora Steinle

    CHIEF OF STAFF

    Total calculated
    $187,051
    From this org
    $159,871
    From related orgs
    $0
    Other
    $27,180
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $149,871
    Bonus
    $10,000
    Other
    $0
    Deferred
    $14,857
    Nontaxable benefits
    $12,323
    Filer's total
    $187,051

  • Gail Williams

    COO

    Total calculated
    $170,277
    From this org
    $149,451
    From related orgs
    $0
    Other
    $20,826
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,451
    Bonus
    $3,000
    Other
    $0
    Deferred
    $13,130
    Nontaxable benefits
    $7,696
    Filer's total
    $170,277

  • Ashley Stone

    PRINCIPAL

    Total calculated
    $127,521
    From this org
    $119,677
    From related orgs
    $0
    Other
    $7,844
    Hours/week
    40

  • Megan Deritter

    PRINCIPAL

    Total calculated
    $136,075
    From this org
    $117,688
    From related orgs
    $0
    Other
    $18,387
    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 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7
ALL OFFICERS AND HIGHEST COMPENSATED EMPLOYEES RECEIVED BONUSES IN CALENDAR YEAR 2023. BONUSES ARE BASED ON MERIT. GAIL WILLIAMS, COO ($3,000) KENNETH MCCANTS-PEARSALL, CAO ($7,500) MEGAN DERITTER, PRINCIPAL ($2,750) ASHLEY STONE, PRINCIPAL ($2,500) AURORA STEINLE, CHIEF OF STAFF ($10,000)

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.

Provenance

Return type
form_990
Tax year
2023
Filed
5 May 2025
IRS schema version
2023v6.0
Source object
202531289349301878

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