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Nonprofiteer
← ILEARN FACILITY DEVELOPMENT INC

Form 990 for tax year 2022

Filed by ILEARN FACILITY DEVELOPMENT INC.

Totals

Total revenue
$864,741
Total expenses
$876,515
Contributions and grants received
$226,134
Grants paid
$0
Program service revenue
$0
Investment income
$31,683
Other revenue
$606,924
Total assets, end of year
$32,864,087
Total liabilities, end of year
$32,875,861
Net assets or fund balances, end of year
-$11,774
Program services expenses (Part IX)
$604,385
Management and general expenses
$272,130
Fundraising expenses
$0
Program service expenses (Part III)
$604,385

Program services were 69.0% 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

    $226,134

  • 3 · Investment income

    total $31,683 · excluded $31,683

  • 6a · Gross rents

    real property $600,922

  • 6c · Rental income or loss

    real property $600,922

  • 6d · Net rental income or loss

    total $600,922 · related or exempt $600,922

  • 11a · Other revenue: OTHERS

    total $6,002 · related or exempt $6,002

  • 11e · Other revenue, total

    $6,002

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $6,000 · program services $3,600 · management and general $2,400

  • 11g · Fees: other

    total $1,471 · program services $883 · management and general $588

  • 20 · Interest

    total $523,167 · program services $392,375 · management and general $130,792

  • 22 · Depreciation, depletion and amortization

    total $330,446 · program services $198,268 · management and general $132,178

  • 23 · Insurance

    total $15,431 · program services $9,259 · management and general $6,172

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year $2,713,360

  • 4 · Accounts receivable

    end of year $6,470

  • 9 · Prepaid expenses and deferred charges

    end of year $33,470

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

    $30,425,510

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

    $314,723

  • 10c · Land, buildings and equipment, net

    end of year $30,110,787

  • 17 · Accounts payable and accrued expenses

    end of year $521,534

  • 20 · Tax-exempt bond liabilities

    end of year $32,332,334

  • 25 · Other liabilities

    end of year $21,993

  • 27 · Net assets without donor restrictions

    end of year -$11,774

Mission and programs · 2022

Mission

ILEARN FACILITY DEVELOPMENT, INC. IS A NON-PROFIT ORGANIZATION ORGANIZED EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSE OF ILEARN SCHOOLS, INC.

Activities or mission (Part I)

ILEARN FACILITY DEVELOPMENT, INC. IS A NON-PROFIT CHARTER MANAGEMENT ORGANIZATION (CMO) THAT PROVIDES SPECIALIZED EDUCATIONAL AND MANAGEMENT SERVICE INCLUDING OPERATIONAL AND ADMINISTRATIVE SUPPORT FOR SCHOOLS.

  • THE PURPOSE OF THIS ORGANIZATION IS TO SUPPORT AND ADVANCE THE MISSION AND VISION OF ILEARN SCHOOLS INC. DURING FY23, THE ORGANIZATION PURCHASED A REAL ESTATE PROPERTY TO PROVIDE A FACILITY FOR LEASE TO ONE OF ILEARN SCHOOLS, INC.'S CHARTER MANAGEMENT CLIENT.

    Expenses $604,385 · Revenue $600,922

As filed on the 2022 return.

Listed in Part VII

  • Nihat Guvercin

    CEO

    Total calculated
    $236,918
    From this org
    $0
    From related orgs
    $216,002
    Other
    $20,916
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    not reported + $216,002 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $20,916 related
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $236,918 related

  • Yanivis Hage

    CHIEF TALENT

    Total calculated
    $169,805
    From this org
    $0
    From related orgs
    $151,943
    Other
    $17,862
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    not reported + $151,943 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $17,862 related
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $169,805 related

  • Aaron Kul

    COO

    Total calculated
    $166,478
    From this org
    $0
    From related orgs
    $146,559
    Other
    $19,919
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    not reported + $146,559 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $19,919 related
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $166,478 related

  • Mustafa Coban

    CFO

    Total calculated
    $159,536
    From this org
    $0
    From related orgs
    $145,909
    Other
    $13,627
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    not reported + $145,909 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $13,627 related
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $159,536 related

  • Fahri Arslan

    DIR. OF FACI

    Total calculated
    $158,112
    From this org
    $0
    From related orgs
    $138,759
    Other
    $19,353
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    not reported + $138,759 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $19,353 related
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $158,112 related

  • Gurkan Kose

    CHIEF ACAD.

    Total calculated
    $151,420
    From this org
    $0
    From related orgs
    $141,030
    Other
    $10,390
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $141,030 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $10,390 related
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $151,420 related

  • Marjorie Renahan

    CHIEF SPECIA

    Total calculated
    $129,625
    From this org
    $0
    From related orgs
    $121,012
    Other
    $8,613
    Hours/week
    0 + 40 related

  • Glenny Adames

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Ozgur Dogru

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Jose Martinez

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Perno Young

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 2 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

None.

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
15 May 2024
IRS schema version
2022v5.0
Source object
202441369349318424

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