Overview
What is Friends Of Classical Charter Schools Inc?
Friends of Classical Charter Schools Inc is a nonprofit organization situated in the Bronx, New York, at 977 Fox Street. Their primary mission is to support the operations of Classical Charter Schools, a not-for-profit educational corporation operating four charter schools in the Bronx. To accomplish this, Friends of Classical Charter Schools, Inc. provides real estate and facilities assistance. This includes subleasing facilities to the schools, resulting in a rental income of $2,785,743 during the fiscal year. The organization's purpose is to enhance the educational experience of students attending these schools by providing necessary support with their real estate and facilities-related needs.
What are the reviews and ratings of this charity?
Charity Navigator Rating 79% - Three-Star out of Four Star Rating
Friends Of Classical Charter Schools Inc has earned a Three-Star rating from Charity Navigator, indicating a solid level of accountability and finance management. The rating is derived exclusively from factors related to accountability, with the organization scoring highly in areas such as independent board membership and having a robust conflict of interest policy in place.
The organization boasts a fully independent board and has successfully maintained a strong financial oversight, including an unqualified audit. The program expense ratio is commendable at 73.84%, reflecting a significant portion of its resources directed towards its mission. This showcases a commitment to effectively utilizing funds for their intended purposes.
However, there are some concerns highlighted by the liabilities to assets ratio, which received no points, suggesting potential financial risks that could affect the organization’s stability. Overall, while Friends Of Classical Charter Schools Inc demonstrates commendable practices in governance and financial accountability, potential stakeholders should be aware of the financial health as depicted by their balance sheet.
This AI summary has been generated from information found on Charity Navigator.
Is Friends Of Classical Charter Schools Inc legitimate?
Friends Of Classical Charter Schools Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Friends Of Classical Charter Schools Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
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What is the mission statement of Friends Of Classical Charter Schools Inc?
Friends of Classical Charter Schools Inc's mission is centered around supporting the operations of classical charter schools. Specifically, the organization aims to assist with the schools' real estate and facilities-related needs. This involves raising funds and resources to provide additional support to the schools and enhance the educational experience of the students. By doing so, Friends of Classical Charter Schools Inc contributes to the overall success and functionality of the charter schools, ensuring they have the necessary resources for operation. The organization subleases facilities to the schools, generating rental income to support their operations.
Who is the CEO of Friends Of Classical Charter Schools Inc?
Dr Daphne Mobley is the Chair of Friends Of Classical Charter Schools Inc.
What is the revenue of Friends Of Classical Charter Schools Inc?
Friends Of Classical Charter Schools Inc's revenue in 2022 was $2,785,843.
Who are the executives of Friends Of Classical Charter Schools Inc and what are their salaries?
There 7 volunteers at Friends Of Classical Charter Schools Inc.
Here are 7 key members and their salaries:
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Where can I find the form 990 for Friends Of Classical Charter Schools Inc?
Friends Of Classical Charter Schools Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Friends Of Classical Charter Schools Inc
Friends of Classical Charter Schools Inc is an organization dedicated to supporting the operations of Classical Charter Schools, a not-for-profit educational corporation operating four charter schools in the Bronx, New York. The primary mission of Friends of Classical Charter Schools Inc is to provide assistance with the schools' real estate and facilities-related needs. This includes subleasing facilities to the schools and generating rental income. Additionally, the organization raises funds and resources to support the schools and enhance the learning experience for their students. By doing so, Friends of Classical Charter Schools Inc plays a crucial role in ensuring the successful operation of these educational institutions.
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Impact
July, 2024
Friends Of Classical Charter Schools Inc's impact lies in providing essential support to the operations of Classical Charter Schools by assisting with their real estate and facilities-related needs. This support enhances the overall experience of the students attending these schools and ensures that they have access to a conducive learning environment. By raising funds and resources, Friends Of Classical Charter Schools Inc plays a critical role in sustaining and improving the quality of education provided by these schools in the Bronx, New York.
This information is meant to be a general summary of Friends Of Classical Charter Schools Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Program Service Revenue: $2,785,743
- Gross Receipts: $2,785,843
Assets and Liabilities:
- Total Assets: $2,442,485
- Total Liabilities: $1,812,423
- Net Assets: $630,062
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM RELATED RENTAL
Revenue
$2,785,743
Organization Details
Founding Year
2018
Phone
(718) 860-4340Principal Officer
Dr Daphne Mobley
Main Address
977 FOX STREET, BRONX, NY, 10459
NTEE Category
Code: B29 - Education
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