Charter Fund INC EIN 05-0620063

Charter Fund INC

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Funds and supports high-performing nonprofit charter schools to help them expand and improve academic outcomes for underserved student populations nationwide. For fiscal year 2024 it reported $232.4M in revenue, $189.6M in expenses, and $670.7M in net assets.Pt I

Founded
2004
Type
Public foundation / grantmaker · Foundations & Grantmakers
Location
Denver, CO
Website
chartergrowthfund.org
Filings
5 on file (2020–2024)
Revenue
$232.4MFY2024
Expenses
$189.6M
Net assets
$670.7M
People
23
Filings
5
Updates
0
More identity details & actions ⌄
EIN  05-0620063 Public foundation / grantmaker Denver, CO Founded 2004
Form 990 (PDF)
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Figures match the IRS filing checked 7/4/26 · see original: IRS
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Size
$100M+
What they do
Funds and supports high-performing nonprofit charter schools to help them expand and improve academic outcomes for underserved student populations nationwide.
Leadership
Kevin Hall · President · $613K
Money in and out
$232.4M revenue, $189.6M expenses
Bottom line
96% program efficiency
Grants paid & assets · FY2024
Total revenue
$232.4M
Pt VIII · Ln 12
Total expenses
$189.6M
Pt IX · Ln 25
Net assets
$670.7M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $42.8M
Where spending went · Part IX cols B–D
Program services $0.96 Management & general $0.04 Fundraising $0.00
Program efficiency
96%
of spending reaches programs
Operating runway
41.0mo
months of highly liquid reserves at operating expense rate
Surplus margin
+18%
revenue over expenses, this year▲ +612% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$232.4M
FY2024▲ +64%
Expenses
$189.6M
FY2024▲ +29%
Total assets
$720.3M
FY2024▲ +6%
Total liabilities
$49.6M
FY2024▼ -6%
Total revenue
$232.4M
Pt VIII · Ln 12
Total expenses
$189.6M
Pt IX · Ln 25
Net assets
$670.7M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$42.8M
Total assetsPt X · Ln 16$720.3M
Program-expense ratioPt IX · col B96%
Voting members of governing bodyPt I · Ln 313
Independent voting membersPt I · Ln 412
Mission & Programs · Part III

Where the work happens

1 program service account for $181.3M of program spending, described in the organization's own filed words · FY2024.
01

CSGF only supports organizations that demonstrate an impact on underserved student populations and outstanding value-added academic gains. The fund focuses on geographic areas supportive of further expansion of charter schools.

$181.3Mprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CCharter Fund INC
EINHdr · item D05-0620063
Principal addressHdr · item CDenver, CO
WebsiteHdr · item Jchartergrowthfund.org
Year of formationHdr · item L2004
State of legal domicileHdr · item MCO
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T21)
Ruling yearIRS BMFAug 2025

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a13
Independent voting membersPt VI · Ln 1b12
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President
$613,000Pt VII · Sec A
Vice President
$465,500Pt VII · Sec A
$319,042Pt VII · Sec A
Asst Secretary (thru 3/24), Partner
$319,042Pt VII · Sec A
COO/Assistant Secretary
$312,333Pt VII · Sec A
$312,333Pt VII · Sec A
$308,083Pt VII · Sec A
Partner
$308,083Pt VII · Sec A

Kevin Hall’s $613K as President is at the 70th percentile of top reported officer pay among 129 $100M+ philanthropy & grantmaking 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

NameFY2024FY2023FY2021FY2020
Kevin Hall$613,000$615,000$540,000$550,000
Darryl Cobb$465,500$432,250$363,150
Richard Billings$319,042
Kathleen Hamel$319,042
Julie Maier$39,086$318,000$283,775$257,500
Rich Billings$316,500$271,325$263,750
Pamela Inbasekaran$312,333$309,500
Marcia Aaron$312,333

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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Statement of Revenue

Part VIII
Contributions & grants$214.2M · 92%
Investment income$11.8M · 5%
Program service revenue$6.4M · 3%
Contributions & grants92%$214.2M
Investment income5%$11.8M
Program service revenue3%$6.4M
Total revenueLn 12$232.4M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.96 Management & general $0.04 Fundraising $0.00
Program services96%$181.3M
Management & general4%$7.4M
Fundraising$865K
Total functional expensesLn 25$189.6M

Balance Sheet

Part X · end of year
CashLn 1$243.0M
Total assetsLn 16$720.3M
Total liabilitiesLn 26$49.6M
Total net assetsLn 32$670.7M
Months of cash on handcomputed15.4

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $642.1M · Operating expenses (Pt IX) $189.6M · Less non-cash grants $1.7M · Cash operating expenses/yr $187.9M
41.0 months
Where the money goes
Program services
Program services $181.3M · Total expenses $189.6M
96%
Management & General
Management & general $7.4M · Total expenses $189.6M
4%
Fundraising
Fundraising $865K · Total expenses $189.6M
0.5%
Cost to raise $1
Fundraising expense $865K · Solicited contributions $214.2M
$0.00 to raise $1
Where the money comes from
Contribution dependence
Contributions & grants $214.2M · Total revenue $232.4M
92%
Government reliance
Government grants — · Total revenue $232.4M
Earned-income share
Program service revenue $6.4M · Total revenue $232.4M
3%
Investment reliance
Investment income $11.8M · Total revenue $232.4M
+5%
Program self-sufficiency
Program service revenue $6.4M · Total expenses $189.6M
3%
Growth & trend
Revenue growth (YoY)
This year $232.4M · Prior year $141.9M
+64%
Revenue CAGR
FY2020 $149.3M · FY2024 $232.4M
+12%
Net-asset trend (YoY)
End of year $670.7M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $232.4M · Expenses $189.6M
+18%
Liabilities-to-Assets
Total liabilities — · Total assets $720.3M
Net-asset ratio
Net assets $670.7M · Total assets $720.3M
93%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $326.8M · Other securities (Pt X, ln 12) $72.2M · Total assets (Pt X, ln 16) $720.3M
55%
People & payroll
Highest Reported Total Compensation
Individual Kevin Hall · Reported title PRESIDENT · Highest reported compensation $613K · Total expenses $189.6M
0.3%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $15.7M · Total expenses $189.6M
8%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 96%
Overhead ratio 4%
Fundraising cost ratio 0.4%
Revenue growth 64%
Investment management fee ratio 0.07%
Legal fee ratio 0.1%
Accounting fee ratio 0.06%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 8 funders →
Grants paid · 1,831 grants · $424.0M · 2020–2024
Colorado Schools FundCO · FY2024$7,000,000
Memphis Education Fund INCTN · FY2024$3,360,000
Harmony Public SchoolsTX · FY2024$3,000,000
Dove SchoolsOK · FY2024$2,185,000
Valor Texas Education FoundationTX · FY2024$2,100,000
Democracy Prep Public SchoolsNY · FY2024$2,036,000
The Greathearts Foundation INCAZ · FY2024$2,000,000
Wallace Stegner AcademyUT · FY2024$1,800,000
Yes Prep Public Schools INCTX · FY2024$1,750,000
Rocketship Public Schools TexasTX · FY2024$1,750,000
Cambiar EducationCA · FY2024$1,650,000
The Academy Charter SchoolNY · FY2024$1,557,358
Movement Schools INCSC · FY2024$1,510,000
Uplift EducationTX · FY2024$1,500,000
See all 1,831 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$232.4M revenue · viewing · ⤓ 990 PDF
FY2023$141.9M revenue · ⤓ 990 PDF
FY2022$190.0M revenue · ⤓ 990 PDF
FY2021$251.9M revenue · ⤓ 990 PDF
FY2020$149.3M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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