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Concept Schools Nfp FY2024 filing

Tax-deductible

Schaumburg, IL501(c)(3)Since 2002Education EIN 03-0503751Revenue $67.1M in FY2024

On file with the IRSconceptschools.org1336 Basswood Rd, 60173-4544 · Schaumburg, ILTax-exempt since Mar 2014School — 170(b)(1)(A)(ii)

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The primary purpose of the organization is to operate charter Schools and provide oversight and supervision over the educational, technical and administrative functions of its member charter Schools.

501(c)(3) charity; gifts are tax-deductible.
95¢ of each $1 spent went to programs.
$1.2M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $11.7M a year · 20% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
95%
of spending
Looks good: 95% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.2M
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
10 mo
of spending, in cash
Looks good: 10.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$28.1M
25% of total assets
Looks good: liabilities are 25% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$67.1M
+1% vs prior year
Spent
$57.2M
To programs
95%
Net assets
$84.2M
By yearFY2020–FY2025
Revenue
$67.1M
FY2024▲ +1%
Tap a bar for its year
Revenue by fiscal year
FY2020$40.8M
FY2021$46.6M
FY2022$54.7M
FY2023$66.2M
FY2024$67.1M
FY2025$68.5M
Expenses
$57.2M
FY2024▲ +27%
Tap a bar for its year
Expenses by fiscal year
FY2020$37.9M
FY2021$32.7M
FY2022$38.4M
FY2023$45.1M
FY2024$57.2M
FY2025$62.1M
Net assets
$84.2M
FY2024▲ +13%
Tap a bar for its year
Net assets by fiscal year
FY2020$21.4M
FY2021$35.0M
FY2022$52.8M
FY2023$74.5M
FY2024$84.2M
FY2025$89.9M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. 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.

Program services 95% · $54.5M Management & general 4% · $2.2M Fundraising 1% · $498K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

15 people listed on the 990; $1.2M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Sedat Duman
President & CEO
$197,106Pt VII · Sec A
Ali Uslu
Vice President
$150,355Pt VII · Sec A
Gultekin Aytekin
Chief Accountability & HR Officer
$149,220Pt VII · Sec A
$140,948Pt VII · Sec A
Latif Uzunel
Director of Software Devel
$140,254Pt VII · Sec A
$131,768Pt VII · Sec A
Serdar Kartal
Superintendent
$131,284Pt VII · Sec A
Christopher Murphy
Chief Growth & Communications Officer
$128,256Pt VII · Sec A

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

NameFY2025FY2024FY2023FY2022FY2021FY2020
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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Provided by the organization

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1 program · $54.5M · in their own filed words · FY2023
01

Charter school operation and management services to its member charter schools.

$54.5Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Robert E Dods Family Foundation INCFY2025$10K
Total grants receivedfrom 1 funder$10K
Grants paid · 2 grants · $459K · 2024–2024
Unitemized GrantFY2024$308,625
Horizon Science Academy Twin CitiesMN · FY2024$150,000

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$67.1M
Ln 12
Fees for servicesLn 2g$56.1M
Gifts and grantsLn 1h$8.2M
Investment incomeLn 3$1.9M
Money outPt IX
$57.2M
Ln 25
Programscol B$54.5M
Managementcol C$2.2M
Fundraisingcol D$498K
Owns and owesPt X
$84.2M
net assets · Ln 32
Cash and savingsLn 1–2$49.5M
Total assetsLn 16$112.3M
LiabilitiesLn 26$28.1M
PeoplePt VI, VII
15
listed · VII A
PaidVII A8
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$8.2M
Government grantsLn 1e$8.0M
Fees for servicesLn 2g$56.1M
Investment incomeLn 3$1.9M
Other incomeLn 4–11$783K
Total revenueLn 12$67.1M
Assets in detailPt X, end of year
CashLn 1$16.5M
SavingsLn 2$32.9M
Cash and savings togetherLn 1–2$49.5M
Land, buildings, equipmentLn 10c$39.9M
Other assetsLn 15$1.6M
Total assetsLn 16$112.3M
LiabilitiesLn 26$28.1M
Net assetsLn 32$84.2M
OperationsPt I, VI
EmployeesI 5542
VolunteersI 67
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$43.6M$49.5M
Land, buildings, equipmentLn 10c$39.9M$39.9M
Total assetsLn 16$103.6M$112.3M
LiabilitiesLn 26$29.2M$28.1M
Net assetsLn 32$74.5M$84.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$663K$622K$41K
Other salaries and wagesLn 7$29.8M$28.1M$1.7M
Pension plan contributionsLn 8$8K$8K$506
Other employee benefitsLn 9$3.5M$3.2M$216K
Payroll taxesLn 10$1.0M$967K$72K
Management feesLn 11a$4.8M$4.8M$9K
Legal feesLn 11b$516K$516K
Accounting feesLn 11c$110K$110K
Other fees for servicesLn 11g$586K$566K$20K
Advertising and promotionLn 12$483K$483K
Office expensesLn 13$1.1M$1.0M$38K$5K
OccupancyLn 16$1.5M$1.4M$38K
TravelLn 17$469K$401K$23K$46K
InterestLn 20$502K$487K$15K
Depreciation, depletion and amortizationLn 22$1.8M$1.8M$6K
InsuranceLn 23$179K$170K$9K
Other expenses (24a–d)Ln 24$10.2M$9.8M$418K
All other expensesLn 24e$34K$34K
Total functional expensesLn 25$57.2M$54.5M$2.2M$498K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $68.5M$62.1M$6.3M$89.9M 990 PDF
FY2024 Viewing $67.1M$57.2M$9.9M$84.2M 990 PDF
FY2023 $66.2M$45.1M$21.1M$74.5M 990 PDF
FY2022 $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

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $67,098,619 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $11,494,883$8,234,409
I-9 Program service revenuePrior year $53,061,005$56,138,331
I-10 Investment incomePrior year $888,726$1,942,901
I-11 Other revenuePrior year $760,978$782,978
I-12 Total revenuePrior year $66,205,592$67,098,619
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $28,390,632$35,009,995
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $16,678,319$22,207,319
I-18 Total expensesPrior year $45,068,951$57,217,314
I-19 Revenue less expensesPrior year $21,136,641$9,881,305
Part VI · Governance 7 of 7 board members independent, no flags
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $67,098,619 across 7 lines filed
VIII-1e Government grants$8,018,065
VIII-1f All other contributions, gifts and grants$216,344
VIII-1h Total contributions, gifts and grants$8,234,409
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $56,138,331$56,138,331
VIII-3 Investment incomeExcluded from tax $1,942,901$1,942,901
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $704,871 · Excluded from tax $78,107$782,978
VIII-12 Total revenueRelated to mission $56,843,202 · Unrelated business $0 · Excluded from tax $2,021,008$67,098,619
Part IX · Statement of functional expenses $57,217,314 across 18 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $621,508 · Management $41,440$662,948
IX-7 Other salaries and wagesPrograms $28,097,096 · Management $1,744,343$29,841,439
IX-8 Pension plan contributionsPrograms $7,591 · Management $506$8,097
IX-9 Other employee benefitsPrograms $3,242,470 · Management $216,197$3,458,667
IX-10 Payroll taxesPrograms $967,340 · Management $71,504$1,038,844
IX-11a Management feesPrograms $4,803,942 · Fundraising $9,015$4,812,957
IX-11b Legal feesPrograms $515,904$515,904
IX-11c Accounting feesPrograms $109,573$109,573
IX-11g Other fees for servicesPrograms $566,327 · Fundraising $19,653$585,980
IX-12 Advertising and promotionPrograms $482,986$482,986
IX-13 Office expensesPrograms $1,026,485 · Management $38,043 · Fundraising $5,295$1,069,823
IX-16 OccupancyPrograms $1,412,583 · Management $38,323$1,450,906
IX-17 TravelPrograms $400,880 · Management $22,878 · Fundraising $45,580$469,338
IX-20 InterestPrograms $487,200 · Management $15,068$502,268
IX-22 Depreciation, depletion and amortizationPrograms $1,806,611 · Management $5,614$1,812,225
IX-23 InsurancePrograms $169,878 · Management $8,941$178,819
IX-24 Other expenses (24a–d)Programs $9,764,622 · Fundraising $418,196$10,182,818
IX-24e All other expensesPrograms $33,722$33,722
IX-25 Total functional expensesPrograms $54,516,718 · Management $2,202,857 · Fundraising $497,739$57,217,314
Part X · Balance sheet $112,302,777 assets, 16 lines filed
Asset lines not itemized here account for $4,850,000; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $15,538,948$16,546,058
X-2 Savings and temporary cash investmentsStart of year $28,065,103$32,915,676
X-3 Pledges and grants receivableStart of year $7,023,676$6,704,800
X-4 Accounts receivableStart of year $2,654,014$3,288,218
X-9 Prepaid expenses and deferred chargesStart of year $142,333$210,595
X-10c Land, buildings and equipment, netStart of year $39,873,555$39,925,129
X-14 Intangible assetsStart of year $6,792,215$6,294,900
X-15 Other assetsStart of year $1,756,708$1,567,401
X-16 Total assetsStart of year $103,646,552$112,302,777
X-17 Accounts payable and accrued expensesStart of year $5,265,520$6,252,222
X-24 Unsecured notes and loans payableStart of year $16,950,341$15,283,758
X-25 Other liabilitiesStart of year $6,948,866$6,592,974
X-26 Total liabilitiesStart of year $29,164,727$28,128,954
X-27 Net assets without donor restrictionsStart of year $74,481,825$84,173,823
X-32 Total net assets or fund balancesStart of year $74,481,825$84,173,823
X-33 Total liabilities and net assetsStart of year $103,646,552$112,302,777
Part XI · Reconciliation of net assets $84,173,823 net assets at year end
XI-1 Total revenue$67,098,619
XI-2 Total expenses$57,217,314
XI-3 Revenue less expenses$9,881,305
XI-4 Net assets at start of year$74,481,825
XI-9 Other changes in net assets−$189,307
XI-10 Net assets at end of year$84,173,823

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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