Inquiry Charter School FY2020 filing

Tax-deductible

Philadelphia, PA501(c)(3)Since 1998EducationEIN 23-2959842

Basic education for grade school students.

501(c)(3) charity; gifts are tax-deductible.
73¢ of each $1 spent went to programs.
$116K 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

FY2020 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $615K a year · 10% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
73%
of spending
Fine: 73% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$116K
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 1.9 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $40K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2.5M
108% of total assets
Concern: liabilities are 108% of assets; over 80%.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5.2M
Spent
$4.4M
To programs
73%
Net assets
−$186K
By yearFY2020–FY2024
Revenue
$5.2M
FY2020
Revenue by fiscal year
FY2020$5.2M
FY2021$5.2M
FY2022$6.8M
FY2023$7.3M
FY2024$7.3M
FY2024$7.3M
Expenses
$4.4M
FY2020
Expenses by fiscal year
FY2020$4.4M
FY2021$4.1M
FY2022$5.7M
FY2023$7.1M
FY2024$7.3M
FY2024$7.9M
Net assets
−$186K
FY2020
Net assets by fiscal year
FY2020−$186K
FY2021$941K
FY2022$2.0M
FY2023$2.2M
FY2024$2.2M
FY2024$1.4M

From the FY2020 Form 990 (year ending June 2020) · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 1998.

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

Where the money goes

73 cents of each dollar spent went to programs.

Program services 73% · $3.2M Management & general 27% · $1.2M

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

Who runs it and what they're paid

8 people listed on the 990; $116K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Head of School
$115,700Pt VII · Sec A
Chairman
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Claire Cohen’s $147K as Head of School is at the 62nd 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 · 2 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Claire Cohen$146,673$146,942$135,161$117,900$115,221$115,700
Amy Sherman$104,260$108,217————

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

Provides basic education for grade school students.

Provided by the organization

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1 program service account for $3.2M of program spending, described in the organization's own filed words · FY2019.
01

Inquiry charter school is an independent charter school with a purpose to provide education to students with unique support services to facilitate this goal.

$3.2Mprogram expense

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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 · FY2020
Elevate 215FY2020$40K
Total grants receivedfrom 1 funder$40K

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$5.2M
Ln 12
Fees for servicesLn 2g$4.8M
Gifts and grantsLn 1h$332K
Money outPt IX
$4.4M
Ln 25
Programscol B$3.2M
Managementcol C$1.2M
Owns and owesPt X
−$186K
net assets · Ln 32
Cash and savingsLn 1–2$716K
Total assetsLn 16$2.3M
LiabilitiesLn 26$2.5M
PeoplePt VI, VII
8
listed · VII A
PaidVII A1
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$332K
Government grantsLn 1e$332K
Fees for servicesLn 2g$4.8M
Gains on assetsLn 7$0
Total revenueLn 12$5.2M
Assets in detailPt X, end of year
CashLn 1$716K
SavingsLn 2$0
Cash and savings togetherLn 1–2$716K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$193K
Other assetsLn 15$1.0M
Total assetsLn 16$2.3M
LiabilitiesLn 26$2.5M
Net assetsLn 32−$186K
OperationsPt I, VI
EmployeesI 559
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 FY20End FY20
Cash and savingsLn 1–2$608K$716K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$180K$193K
Total assetsLn 16$1.6M$2.3M
LiabilitiesLn 26$2.5M$2.5M
Net assetsLn 32−$907K−$186K
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$116K$116K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$1.9M$1.4M$516K
Pension plan contributionsLn 8−$77K$50K−$127K
Other employee benefitsLn 9$202K$53K$149K
Payroll taxesLn 10$163K$112K$51K
Management feesLn 11a$224K$224K
Legal feesLn 11b$392$392
Accounting feesLn 11c$38K$38K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$0
Information technologyLn 14$8K$8K
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$1K$1K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$46K$46K
InsuranceLn 23$20K$20K
Other expenses (24a–d)Ln 24$1.4M$1.3M$58K
All other expensesLn 24e$362K$207K$155K
Total functional expensesLn 25$4.4M$3.2M$1.2M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $7.3M$7.3M−$48K$2.2M 990 PDF
FY2023 $7.3M$7.1M$166K$2.2M 990 PDF
FY2022 $6.8M$5.7M$1.1M$2.0M 990 PDF
FY2021 $5.2M$4.1M$1.1M$941K 990 PDF
FY2020 Viewing $5.2M$4.4M$721K−$186K 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 FY2020 990 (4 parts)
Part VIII · Statement of revenue $5,170,572 across 9 lines filed
VIII-1e Government grants$331,937
VIII-1h Total contributions, gifts and grants$331,937
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $4,838,635$4,838,635
VIII-3 Investment income$0
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 $4,838,635$5,170,572
Part IX · Statement of functional expenses $4,449,702 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 $115,700$115,700
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $1,432,790 · Management $515,857$1,948,647
IX-8 Pension plan contributionsPrograms $49,863 · Management −$127,283−$77,420
IX-9 Other employee benefitsPrograms $52,862 · Management $148,785$201,647
IX-10 Payroll taxesPrograms $111,850 · Management $51,061$162,911
IX-11a Management feesManagement $224,364$224,364
IX-11b Legal feesManagement $392$392
IX-11c Accounting feesManagement $37,750$37,750
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 promotionManagement $1,622$1,622
IX-13 Office expenses$0
IX-14 Information technologyManagement $7,613$7,613
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 TravelPrograms $1,299$1,299
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $45,687$45,687
IX-23 InsuranceManagement $20,468$20,468
IX-24 Other expenses (24a–d)Programs $1,338,255 · Management $58,278$1,396,533
IX-24e All other expensesPrograms $207,385 · Management $155,104$362,489
IX-25 Total functional expensesPrograms $3,239,991 · Management $1,209,711 · Fundraising $0$4,449,702
Part X · Balance sheet $2,282,510 assets, 19 lines filed
Asset lines not itemized here account for $1,000; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $608,056$716,116
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivableStart of year $531,937$306,488
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $9,276$23,603
X-10c Land, buildings and equipment, netStart of year $179,972$193,235
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 $227,239$1,042,068
X-16 Total assetsStart of year $1,556,480$2,282,510
X-17 Accounts payable and accrued expensesStart of year $1,099,658$685,913
X-25 Other liabilitiesStart of year $1,363,894$1,782,799
X-26 Total liabilitiesStart of year $2,463,552$2,468,712
X-27 Net assets without donor restrictionsStart of year −$907,072−$186,202
X-32 Total net assets or fund balancesStart of year −$907,072−$186,202
X-33 Total liabilities and net assetsStart of year $1,556,480$2,282,510
Part XI · Reconciliation of net assets −$186,202 net assets at year end
XI-1 Total revenue$5,170,572
XI-2 Total expenses$4,449,702
XI-3 Revenue less expenses$720,870
XI-4 Net assets at start of year−$907,072
XI-10 Net assets at end of year−$186,202

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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