Odyssey Charter School Incorporated

Tax-deductible

Wilmington, DE501(c)(3)Since 2006EducationEIN 20-1787299Revenue $45.9M in FY2025

On file with the IRSodysseycharterschooldel.com4319 Lancaster Pike, 19805-1521 · Wilmington, DETax-exempt since Mar 2012School — 170(b)(1)(A)(ii)

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The mission of Odyssey Charter School is to prepare students for a lifelong enthusiasm for learning, develop a keen awareness of world citizenship and culture and establish critical thinking and problem-solving proficiency through the added learning of the modern greek language and mathematics focus.

501(c)(3) charity; gifts are tax-deductible.
67¢ of each $1 spent went to programs.
$999K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2025 · 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
0 of 6
filings with a surplus
Average deficit $3.4M a year · 10% of revenue · last 6 filings
Concern: a surplus in 0 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
67%
of spending
Fine: 67% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$999K
to officers and key staff · 2% of spending
Top officer’s pay lower than 57% of similar orgs
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Fine: 2.6 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $500K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$127.2M
154% of total assets
Concern: liabilities are 154% of assets; over 80%.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$45.9M
+8% vs prior year
Spent
$49.8M
To programs
67%
Net assets
−$44.6M
By yearFY2020–FY2025
Revenue
$45.9M
FY2025▲ +8%
Tap a bar for its year
Revenue by fiscal year
FY2020$27.0M
FY2021$28.6M
FY2022$32.1M
FY2023$35.3M
FY2024$42.3M
FY2025$45.9M
Expenses
$49.8M
FY2025▲ +6%
Tap a bar for its year
Expenses by fiscal year
FY2020$31.8M
FY2021$33.9M
FY2022$33.6M
FY2023$35.6M
FY2024$46.8M
FY2025$49.8M
Net assets
−$44.6M
FY2025▼ -7%
Tap a bar for its year
Net assets by fiscal year
FY2020−$30.1M
FY2021−$35.4M
FY2022−$36.9M
FY2023−$37.1M
FY2024−$41.6M
FY2025−$44.6M

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Exemption reinstated (2010-11-15). Per the IRS revocation list. Latest filing on record: FY2025. IRS ruling in Mar 2012.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

67 cents of each dollar spent went to programs.

Program services 67% · $33.5M Management & general 33% · $16.3M

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

17 people listed on the 990; $999K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Head of Schools
$216,362Pt VII · Sec A
High School Dean
$133,875Pt VII · Sec A
High School Dean
$133,585Pt VII · Sec A
Dean of Greek Department
$132,137Pt VII · Sec A
Lower School Dean
$125,213Pt VII · Sec A
High School Dean
$123,346Pt VII · Sec A
Member - Teacher Rep
$73,007Pt VII · Sec A
Member - Teacher Rep
$61,119Pt VII · Sec A

Elias Pappas’s $216K as Head of Schools is at the 43rd 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
Elias Pappas$216,362$175,699$164,085$158,107——
Jeffery Koss—$160,825$138,370$114,887——
Riccardo Stoeckicht————$159,012$151,822
Denise Parks—————$152,812
Mark Phelps$133,875—————
Ashley Lipson$133,585$119,449$113,298$112,099$109,590—
Ioanna Lekkakou$132,137$112,439————
Hrysoula Davis$125,213—$107,227$104,344——

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

Prepares students for lifelong learning and world citizenship through Greek language and math.

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1 program · $33.5M · in their own filed words · FY2024
01

See schedule o enable students to excel academically by providing a structured dual language program integrated with a rigorous core curriculum, while encouraging the development of effective critical thinking and problem-solving SKILLS.ENHANCE each student's understanding of mathematics, english, science, and other western languages by…

$33.5Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 1 funder$500K

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$45.9M
Ln 12
Gifts and grantsLn 1h$31.5M
Fees for servicesLn 2g$13.1M
Investment incomeLn 3$807K
Money outPt IX
$49.8M
Ln 25
Programscol B$33.5M
Managementcol C$16.3M
Owns and owesPt X
−$44.6M
net assets · Ln 32
Cash and savingsLn 1–2$11.0M
Total assetsLn 16$82.6M
LiabilitiesLn 26$127.2M
PeoplePt VI, VII
17
listed · VII A
PaidVII A8
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$31.5M
Government grantsLn 1e$29.8M
Fees for servicesLn 2g$13.1M
Investment incomeLn 3$807K
Other incomeLn 4–11$497K
Total revenueLn 12$45.9M
Assets in detailPt X, end of year
CashLn 1$5.9M
SavingsLn 2$5.1M
Cash and savings togetherLn 1–2$11.0M
Land, buildings, equipmentLn 10c$41.4M
Other assetsLn 15$28.6M
Total assetsLn 16$82.6M
LiabilitiesLn 26$127.2M
Net assetsLn 32−$44.6M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$17.0M$11.0M
Land, buildings, equipmentLn 10c$36.3M$41.4M
Total assetsLn 16$81.7M$82.6M
LiabilitiesLn 26$122.5M$127.2M
Net assetsLn 32−$40.8M−$44.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$1.2M$830K$416K
Other salaries and wagesLn 7$21.6M$14.4M$7.2M
Pension plan contributionsLn 8$5.5M$3.6M$1.8M
Other employee benefitsLn 9$6.3M$4.2M$2.1M
Payroll taxesLn 10$1.6M$1.1M$540K
Legal feesLn 11b$128K$85K$43K
Accounting feesLn 11c$28K$18K$9K
Other fees for servicesLn 11g$3.8M$2.5M$1.3M
Advertising and promotionLn 12$97K$65K$32K
Office expensesLn 13$106K$70K$35K
Information technologyLn 14$208K$139K$69K
OccupancyLn 16$600K$400K$200K
TravelLn 17$47K$32K$16K
InterestLn 20$2.3M$1.5M$774K
Depreciation, depletion and amortizationLn 22$1.4M$910K$456K
InsuranceLn 23$332K$221K$111K
Other expenses (24a–d)Ln 24$4.4M$3.3M$1.2M
All other expensesLn 24e$61K$41K$20K
Total functional expensesLn 25$49.8M$33.5M$16.3M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $45.9M$49.8M−$3.9M−$44.6M 990 PDF
FY2024 $42.3M$46.8M−$4.4M−$41.6M 990 PDF
FY2023 $35.3M$35.6M−$265K−$37.1M 990 PDF
FY2022 $32.1M$33.6M−$1.5M−$36.9M 990 PDF
FY2021 $28.6M$33.9M−$5.3M−$35.4M 990 PDF
FY2020 $27.0M$31.8M−$4.8M−$30.1M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (6 parts)
Part I · Summary $45,917,008 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $39,650,277$31,536,296
I-9 Program service revenuePrior year $1,752,610$13,075,830
I-10 Investment incomePrior year $552,914$807,417
I-11 Other revenuePrior year $381,026$497,465
I-12 Total revenuePrior year $42,336,827$45,917,008
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 $31,763,282$36,254,721
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $15,013,489$13,512,753
I-18 Total expensesPrior year $46,776,771$49,767,474
I-19 Revenue less expensesPrior year −$4,439,944−$3,850,466
Part VI · Governance 11 of 11 board members independent, 1 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $45,917,008 across 7 lines filed
VIII-1e Government grants$29,806,039
VIII-1f All other contributions, gifts and grants$1,730,257
VIII-1h Total contributions, gifts and grants$31,536,296
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $13,075,830$13,075,830
VIII-3 Investment incomeExcluded from tax $807,417$807,417
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $497,465$497,465
VIII-12 Total revenueRelated to mission $13,075,830 · Unrelated business $0 · Excluded from tax $1,304,882$45,917,008
Part IX · Statement of functional expenses $49,767,474 across 18 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $829,911 · Management $415,747$1,245,658
IX-7 Other salaries and wagesPrograms $14,398,829 · Management $7,213,134$21,611,963
IX-8 Pension plan contributionsPrograms $3,647,310 · Management $1,827,131$5,474,441
IX-9 Other employee benefitsPrograms $4,200,830 · Management $2,104,418$6,305,248
IX-10 Payroll taxesPrograms $1,077,589 · Management $539,822$1,617,411
IX-11b Legal feesPrograms $85,234 · Management $42,698$127,932
IX-11c Accounting feesPrograms $18,455 · Management $9,245$27,700
IX-11g Other fees for servicesPrograms $2,515,418 · Management $1,260,106$3,775,524
IX-12 Advertising and promotionPrograms $64,842 · Management $32,483$97,325
IX-13 Office expensesPrograms $70,415 · Management $35,274$105,689
IX-14 Information technologyPrograms $138,729 · Management $69,496$208,225
IX-16 OccupancyPrograms $399,845 · Management $200,304$600,149
IX-17 TravelPrograms $31,558 · Management $15,809$47,367
IX-20 InterestPrograms $1,544,423 · Management $773,683$2,318,106
IX-22 Depreciation, depletion and amortizationPrograms $909,832 · Management $455,783$1,365,615
IX-23 InsurancePrograms $221,370 · Management $110,896$332,266
IX-24 Other expenses (24a–d)Programs $3,258,769 · Management $1,187,182$4,445,951
IX-24e All other expensesPrograms $40,577 · Management $20,327$60,904
IX-25 Total functional expensesPrograms $33,453,936 · Management $16,313,538 · Fundraising $0$49,767,474
Part X · Balance sheet $82,600,011 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $6,881,181$5,880,824
X-2 Savings and temporary cash investmentsStart of year $10,108,382$5,079,318
X-4 Accounts receivableStart of year $2,589,336$1,696,976
X-10c Land, buildings and equipment, netStart of year $36,326,102$41,386,050
X-15 Other assetsStart of year $25,793,522$28,556,843
X-16 Total assetsStart of year $81,698,523$82,600,011
X-17 Accounts payable and accrued expensesStart of year $1,867,096$3,190,892
X-25 Other liabilitiesStart of year $77,162,645$81,195,749
X-26 Total liabilitiesStart of year $122,483,627$127,235,581
X-32 Total net assets or fund balancesStart of year −$40,785,104−$44,635,570
X-33 Total liabilities and net assetsStart of year $81,698,523$82,600,011
Part XI · Reconciliation of net assets −$44,635,570 net assets at year end
XI-1 Total revenue$45,917,008
XI-2 Total expenses$49,767,474
XI-3 Revenue less expenses−$3,850,466
XI-4 Net assets at start of year−$40,785,104
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$44,635,570

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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