Hope Academy Charter School

Tax-deductible

Asbury Park, NJ501(c)(3)Since 2001EducationEIN 22-3785563Revenue $8.2M in FY2025

On file with the IRShopeacademycs.org601 Grand Avenue, 07712-6656 · Asbury Park, NJTax-exempt since Jan 2012School — 170(b)(1)(A)(ii)

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The mission of Hope Academy Charter School is as follows: the production of intelligent, competent, compassionate and community-minded citizens, who will teach others to be, to know, and to do like wise. The educational philosophy is embedded in our Core Values. Hard Work Open and Honest communications Personal Commitment Excellence We at Hope Academy believe that FAILURE IS NOT AN OPTION.

501(c)(3) charity; gifts are tax-deductible.
66¢ of each $1 spent went to programs.
$349K 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
5 of 5
filings with a surplus
Average surplus $1.1M a year · 17% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
66%
of spending
Fine: 66% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$349K
to officers and key staff · 6% of spending
Top officer’s pay higher than 88% of similar orgs
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
9 mo
of spending, in cash
Looks good: 9.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $550K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$5.4M
38% of total assets
Looks good: liabilities are 38% 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
$8.2M
+18% vs prior year
Spent
$5.9M
To programs
66%
Net assets
$8.9M
By yearFY2021–FY2025
Revenue
$8.2M
FY2025▲ +18%
Tap a bar for its year
Revenue by fiscal year
FY2021$5.2M
FY2022$6.6M
FY2023$6.8M
FY2024$6.9M
FY2025$8.2M
Expenses
$5.9M
FY2025▲ +3%
Tap a bar for its year
Expenses by fiscal year
FY2021$4.5M
FY2022$5.9M
FY2023$6.0M
FY2024$5.7M
FY2025$5.9M
Net assets
$8.9M
FY2025▲ +35%
Tap a bar for its year
Net assets by fiscal year
FY2021$3.5M
FY2022$4.4M
FY2023$5.3M
FY2024$6.5M
FY2025$8.9M

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. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 2012.

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

Where the money goes

66 cents of each dollar spent went to programs.

Program services 66% · $3.9M Management & general 34% · $2.0M

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

9 people listed on the 990; $349K 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
Superintendent
$229,363Pt VII · Sec A
Business Admin
$119,445Pt VII · Sec A
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Davisha Pratt’s $229K as Superintendent is at the 88th percentile of top reported officer pay among 3394 $1–10M 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 · 4 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021
Davisha Pratt$229,363$218,010$222,844$190,474$175,154
Felicia Kennedy$119,445$121,034$118,711——
Donna Torres————$118,596
Dwayne McNeil———$116,308$45,153

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

Educates students to become intelligent, compassionate, and community-minded citizens who teach others.

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Provided by the organization

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1 program · $3.9M · in their own filed words · FY2024
01

Education costs

$3.9Mprogram 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 · FY2024

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$8.2M
Ln 12
Gifts and grantsLn 1h$8.1M
Investment incomeLn 3$100K
Fees for servicesLn 2g$2K
Money outPt IX
$5.9M
Ln 25
Programscol B$3.9M
Managementcol C$2.0M
Owns and owesPt X
$8.9M
net assets · Ln 32
Cash and savingsLn 1–2$4.5M
Total assetsLn 16$14.3M
LiabilitiesLn 26$5.4M
PeoplePt VI, VII
9
listed · VII A
PaidVII A2
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$8.1M
Government grantsLn 1e$4.1M
Fees for servicesLn 2g$2K
Investment incomeLn 3$100K
Gains on assetsLn 7$0
Total revenueLn 12$8.2M
Assets in detailPt X, end of year
CashLn 1$4.5M
SavingsLn 2$0
Cash and savings togetherLn 1–2$4.5M
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$7.3M
Other assetsLn 15$1.1M
Total assetsLn 16$14.3M
LiabilitiesLn 26$5.4M
Net assetsLn 32$8.9M
OperationsPt I, VI
EmployeesI 562
VolunteersI 60
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 FY25End FY25
Cash and savingsLn 1–2$3.4M$4.5M
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$6.6M$7.3M
Total assetsLn 16$11.7M$14.3M
LiabilitiesLn 26$5.2M$5.4M
Net assetsLn 32$6.5M$8.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$349K$349K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$2.8M$2.2M$659K
Pension plan contributionsLn 8$72K$72K
Other employee benefitsLn 9$485K$456K$28K
Payroll taxesLn 10$0
Management feesLn 11a$0
Legal feesLn 11b$8K$8K
Accounting feesLn 11c$20K$20K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$0
Office expensesLn 13$0
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$116K$116K
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$288K$288K
InsuranceLn 23$121K$121K
Other expenses (24a–d)Ln 24$1.5M$751K$774K
All other expensesLn 24e$65K$38K$27K
Total functional expensesLn 25$5.9M$3.9M$2.0M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $8.2M$5.9M$2.3M$8.9M 990 PDF
FY2024 $6.9M$5.7M$1.2M$6.5M 990 PDF
FY2023 $6.8M$6.0M$744K$5.3M 990 PDF
FY2022 $6.6M$5.9M$719K$4.4M 990 PDF
FY2021 $5.2M$4.5M$638K$3.5M 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 $8,198,019 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $6,824,312$8,095,417
I-9 Program service revenuePrior year $5,105$2,391
I-10 Investment incomePrior year $103,112$100,211
I-11 Other revenue$0
I-12 Total revenuePrior year $6,932,529$8,198,019
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $3,751,896$3,738,721
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,974,843$2,142,297
I-18 Total expensesPrior year $5,726,739$5,881,018
I-19 Revenue less expensesPrior year $1,205,790$2,317,001
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 $8,198,019 across 10 lines filed
VIII-1e Government grants$4,096,320
VIII-1f All other contributions, gifts and grants$3,999,097
VIII-1h Total contributions, gifts and grants$8,095,417
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,391$2,391
VIII-3 Investment incomeRelated to mission $100,211$100,211
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $102,602$8,198,019
Part IX · Statement of functional expenses $5,881,018 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffManagement $348,808$348,808
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $2,173,292 · Management $659,486$2,832,778
IX-8 Pension plan contributionsPrograms $72,354$72,354
IX-9 Other employee benefitsPrograms $456,410 · Management $28,371$484,781
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal feesManagement $7,570$7,570
IX-11c Accounting feesManagement $19,500$19,500
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$0
IX-12 Advertising and promotion$0
IX-13 Office expenses$0
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 InterestPrograms $115,942$115,942
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $288,236$288,236
IX-23 InsuranceManagement $120,635$120,635
IX-24 Other expenses (24a–d)Programs $751,312 · Management $774,107$1,525,419
IX-24e All other expensesPrograms $37,812 · Management $27,183$64,995
IX-25 Total functional expensesPrograms $3,895,358 · Management $1,985,660 · Fundraising $0$5,881,018
Part X · Balance sheet $14,256,531 assets, 20 lines filed
X-1 Cash, non-interest-bearingStart of year $3,359,487$4,475,161
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivableStart of year $742,725$1,374,780
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $14,530$9,687
X-10c Land, buildings and equipment, netStart of year $6,643,098$7,274,991
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $986,775$1,121,912
X-16 Total assetsStart of year $11,746,615$14,256,531
X-17 Accounts payable and accrued expensesStart of year $42,571$306,117
X-25 Other liabilitiesStart of year $1,324,233$1,440,904
X-26 Total liabilitiesStart of year $5,213,248$5,406,163
X-27 Net assets without donor restrictionsStart of year $3,646,010$5,138,576
X-28 Net assets with donor restrictionsStart of year $2,887,357$3,711,792
X-32 Total net assets or fund balancesStart of year $6,533,367$8,850,368
X-33 Total liabilities and net assetsStart of year $11,746,615$14,256,531
Part XI · Reconciliation of net assets $8,850,368 net assets at year end
XI-1 Total revenue$8,198,019
XI-2 Total expenses$5,881,018
XI-3 Revenue less expenses$2,317,001
XI-4 Net assets at start of year$6,533,367
XI-10 Net assets at end of year$8,850,368

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

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