Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 2014.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
95 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Who runs it and what they're paid
12 people listed on the 990; $759K paid to officers and key staff.
Sedat Duman’s $215K as President & CEO is at the 42nd percentile of top reported officer pay among 3683 $10–100M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2024 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Sedat Duman | $214,696 | $197,106 | $192,128 | $185,317 | $174,414 | $189,537 |
| Ali Uslu | $163,542 | $150,355 | $130,771 | $117,177 | $101,374 | — |
| Gultekin Aytekin | $157,969 | $149,220 | $127,485 | $114,120 | $104,054 | — |
| Ryan Uysaler | $155,984 | $140,948 | $130,890 | $116,582 | $104,010 | — |
| Latif Uzunel | $152,460 | $140,254 | $141,586 | $121,422 | $122,741 | — |
| Serdar Kartal | $148,699 | $131,284 | — | — | — | — |
| David Disli | $146,235 | $131,768 | $114,604 | — | — | — |
| Christopher Murphy | $142,488 | $128,256 | $116,134 | $104,767 | $100,000 | — |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Operates and oversees charter schools, managing their educational and administrative functions.
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Charter school operation and management services to its member charter schools.
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Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2022 990, line by line.
Download 990
| Line | Start FY22 | End FY22 |
|---|---|---|
| Cash and savingsLn 1–2 | $24.2M | $32.5M |
| Land, buildings, equipmentLn 10c | $21.6M | $35.0M |
| Total assetsLn 16 | $48.6M | $73.5M |
| LiabilitiesLn 26 | $13.6M | $20.7M |
| Net assetsLn 32 | $35.0M | $52.8M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $857K | $791K | $58K | $7K |
| Other salaries and wagesLn 7 | $22.3M | $20.6M | $1.5M | $194K |
| Payroll taxesLn 10 | $772K | $717K | $55K | |
| Management feesLn 11a | $4.1M | $4.1M | ||
| Other fees for servicesLn 11g | $534K | $532K | $2K | |
| Advertising and promotionLn 12 | $136K | $136K | ||
| Office expensesLn 13 | $852K | $815K | $35K | $3K |
| OccupancyLn 16 | $1.3M | $1.2M | $36K | |
| TravelLn 17 | $295K | $283K | $12K | $380 |
| InterestLn 20 | $515K | $500K | $15K | |
| Depreciation, depletion and amortizationLn 22 | $1.6M | $1.6M | $4K | |
| InsuranceLn 23 | $96K | $91K | $5K | |
| Other expenses (24a–d)Ln 24 | $4.9M | $4.9M | ||
| All other expensesLn 24e | $238K | $76K | $2K | $161K |
| Total functional expensesLn 25 | $38.4M | $36.3M | $1.7M | $368K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 | $67.1M | $57.2M | $9.9M | $84.2M | 990 PDF |
| FY2023 | $66.2M | $45.1M | $21.1M | $74.5M | 990 PDF |
| FY2022 Viewing | $54.7M | $38.4M | $16.3M | $52.8M | 990 PDF |
| FY2021 | $46.6M | $32.7M | $13.9M | $35.0M | 990 PDF |
| FY2020 | $40.8M | $37.9M | $2.9M | $21.4M | 990 PDF |
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Schedules filed Part IV
See the full FY2022 990 (4 parts)
Part VIII · Statement of revenue $54,687,645 across 7 lines filed
Part IX · Statement of functional expenses $38,361,933 across 14 lines filed
Part X · Balance sheet $73,509,189 assets, 12 lines filed
Part XI · Reconciliation of net assets $52,803,276 net assets at year end
Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File
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