Equality Charter School: Nonprofit Profile, Financials & Form 990 (EIN 80-0338050)

Revenue by fiscal year
FY2020	$15.6M
FY2021	$17.8M
FY2022	$16.7M
FY2023	$17.6M
FY2024	$19.3M
FY2025	$21.8M

Expenses by fiscal year
FY2020	$14.2M
FY2021	$15.1M
FY2022	$17.1M
FY2023	$17.9M
FY2024	$18.5M
FY2025	$24.7M

Net assets by fiscal year
FY2020	$7.5M
FY2021	$10.1M
FY2022	$9.7M
FY2023	$9.3M
FY2024	$10.1M
FY2025	$7.2M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 2011.

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

Where the money goes

87 cents of each dollar spent went to programs.

87%

12%

Program services 87% · $21.5M Management & general 12% · $3.0M Fundraising 1% · $146K

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

22 people listed on the 990; $1.7M 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

Caitlin Franco

Executive Director

$291,110Pt VII · Sec A

Favrol Philemy

High School Principal

$215,813Pt VII · Sec A

Gabriel Park

Chief Financial Officer

$214,418Pt VII · Sec A

Amanda Huza Mercado

Middle School Principal

$206,367Pt VII · Sec A

Gene Johnson

Asst. Principal, Hs

$173,681Pt VII · Sec A

Jocelyn Kelly

Director of Curriculum

$169,202Pt VII · Sec A

Amanda F Myers

Asst. Principal, Ms

$167,713Pt VII · Sec A

Amrita Dennis

High School Principal

$161,466Pt VII · Sec A

Caitlin Franco’s $291K as Executive Director is at the 63rd 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

Name	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Caitlin Franco	$291,110	$279,318	$257,155	$216,138	$198,339	$198,339
Favrol Philemy	$215,813	$211,580	$191,117	$185,106	$164,987	$164,987
Gabriel Park	$214,418	$160,200	$185,532	$164,787	$151,306	$151,306
Amanda Huza Mercado	$206,367	$198,667	—	—	—	—
Amanda Huza	—	—	$184,096	$184,550	$151,639	$151,639
Gene Johnson	$173,681	$155,922	$144,099	—	—	—
Jocelyn Kelly	$169,202	$162,749	$124,766	$137,844	$126,433	$126,433
Amanda F Myers	$167,713	$166,152	—	—	—	$128,357

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 college and productive lives through rigorous academics and skill-building.

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Provided by the organization

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2 programs · $21.5M · in their own filed words · FY2024

01

See schedule o.

$14.1Mprogram expense

02

See schedule o.

$7.4Mprogram 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

50can INCFY2024$147K

Fidelity Investments Charitable Gift FundFY2024$10K

Hyde and Watson FoundationFY2024$5K

Total grants receivedfrom 3 funders$162K

See all 3 funders →

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$21.8M

Ln 12

Fees for servicesLn 2g$17.0M

Gifts and grantsLn 1h$4.4M

Investment incomeLn 3$229K

Money outPt IX

$24.7M

Ln 25

Programscol B$21.5M

Managementcol C$3.0M

Fundraisingcol D$146K

Owns and owesPt X

$7.2M

net assets · Ln 32

Cash and savingsLn 1–2$3.1M

Total assetsLn 16$15.6M

LiabilitiesLn 26$8.5M

PeoplePt VI, VII

22

listed · VII A

PaidVII A9

Voting boardVI 1a10

IndependentVI 1b10

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$4.4M

Government grantsLn 1e$4.1M

Noncash giftsLn 1g$108K

Fees for servicesLn 2g$17.0M

Investment incomeLn 3$229K

Other incomeLn 4–11$126K

Total revenueLn 12$21.8M

Assets in detailPt X, end of year

CashLn 1$161K

SavingsLn 2$2.9M

Cash and savings togetherLn 1–2$3.1M

Land, buildings, equipmentLn 10c$2.9M

Other assetsLn 15$8.8M

Total assetsLn 16$15.6M

LiabilitiesLn 26$8.5M

Net assetsLn 32$7.2M

OperationsPt I, VI

EmployeesI 5193

VolunteersI 617

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

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$4.5M	$3.1M
Land, buildings, equipmentLn 10c	$2.7M	$2.9M
Total assetsLn 16	$14.4M	$15.6M
LiabilitiesLn 26	$4.3M	$8.5M
Net assetsLn 32	$10.1M	$7.2M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Pay of current officers, directors and key staffLn 5	$1.1M	$813K	$318K	$9K
Other salaries and wagesLn 7	$11.6M	$10.4M	$1.1M	$139
Pension plan contributionsLn 8	$434K	$390K	$39K	$4K
Other employee benefitsLn 9	$2.1M	$1.9M	$266K	$22K
Payroll taxesLn 10	$972K	$904K	$58K	$10K
Legal feesLn 11b	$37K		$37K
Accounting feesLn 11c	$97K		$97K
Other fees for servicesLn 11g	$1.3M	$676K	$611K	$822
Advertising and promotionLn 12	$196K	$180K	$14K	$1K
Office expensesLn 13	$326K	$238K	$30K	$58K
Information technologyLn 14	$141K	$129K	$11K	$975
OccupancyLn 16	$4.0M	$3.9M	$165K	$29K
Depreciation, depletion and amortizationLn 22	$755K	$664K	$83K	$8K
InsuranceLn 23	$201K	$177K	$22K	$2K
Other expenses (24a–d)Ln 24	$1.2M	$1.2M	$58K	$1K
All other expensesLn 24e	$105K	$27K	$78K	$228
Total functional expensesLn 25	$24.7M	$21.5M	$3.0M	$146K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$21.8M	$24.7M	−$2.9M	$7.2M	990 PDF
FY2024	$19.3M	$18.5M	$774K	$10.1M	990 PDF
FY2023	$17.6M	$17.9M	−$392K	$9.3M	990 PDF
FY2022	$16.7M	$17.1M	−$424K	$9.7M	990 PDF
FY2021	$17.8M	$15.1M	$2.6M	$10.1M	990 PDF
FY2020	$15.6M	$14.2M	$1.4M	$7.5M	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 M · Noncash J · Pay O · Explanations

See the full FY2025 990 (6 parts)

Part I · Summary $21,779,475 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $5,034,387$4,419,664

I-9 Program service revenuePrior year $14,028,496$17,004,474

I-10 Investment incomePrior year $197,593$229,147

I-11 Other revenuePrior year $34,732$126,190

I-12 Total revenuePrior year $19,295,208$21,779,475

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 $13,983,176$16,250,147

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $4,537,539$8,433,814

I-18 Total expensesPrior year $18,520,715$24,683,961

I-19 Revenue less expensesPrior year $774,493−$2,904,486

Part VI · Governance 10 of 10 board members independent, no flags

VI-1a Voting members of the governing body10

VI-1b Independent voting members10

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 $21,779,475 across 8 lines filed

VIII-1e Government grants$4,051,003

VIII-1f All other contributions, gifts and grants$368,661

VIII-1g Noncash contributions (included above)$108,399

VIII-1h Total contributions, gifts and grants$4,419,664

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $17,004,474$17,004,474

VIII-3 Investment incomeExcluded from tax $229,147$229,147

VIII-8 Net income from fundraising eventsExcluded from tax $126,190$126,190

VIII-12 Total revenueRelated to mission $17,004,474 · Unrelated business $0 · Excluded from tax $355,337$21,779,475

Part IX · Statement of functional expenses $24,683,961 across 16 lines filed

IX-5 Pay of current officers, directors and key staffPrograms $813,324 · Management $318,221 · Fundraising $8,743$1,140,288

IX-7 Other salaries and wagesPrograms $10,419,628 · Management $1,139,390 · Fundraising $139$11,559,157

IX-8 Pension plan contributionsPrograms $390,496 · Management $38,937 · Fundraising $4,452$433,885

IX-9 Other employee benefitsPrograms $1,857,346 · Management $266,065 · Fundraising $21,718$2,145,129

IX-10 Payroll taxesPrograms $903,670 · Management $58,301 · Fundraising $9,717$971,688

IX-11b Legal feesManagement $36,929$36,929

IX-11c Accounting feesManagement $97,300$97,300

IX-11g Other fees for servicesPrograms $676,258 · Management $610,665 · Fundraising $822$1,287,745

IX-12 Advertising and promotionPrograms $180,362 · Management $14,195 · Fundraising $1,290$195,847

IX-13 Office expensesPrograms $238,050 · Management $29,756 · Fundraising $58,294$326,100

IX-14 Information technologyPrograms $129,351 · Management $10,728 · Fundraising $975$141,054

IX-16 OccupancyPrograms $3,853,060 · Management $165,458 · Fundraising $29,341$4,047,859

IX-22 Depreciation, depletion and amortizationPrograms $664,076 · Management $83,009 · Fundraising $7,546$754,631

IX-23 InsurancePrograms $176,818 · Management $22,102 · Fundraising $2,009$200,929

IX-24 Other expenses (24a–d)Programs $1,181,016 · Management $58,207 · Fundraising $1,173$1,240,396

IX-24e All other expensesPrograms $26,903 · Management $77,893 · Fundraising $228$105,024

IX-25 Total functional expensesPrograms $21,510,358 · Management $3,027,156 · Fundraising $146,447$24,683,961

Part X · Balance sheet $15,643,106 assets, 14 lines filed

X-1 Cash, non-interest-bearingStart of year $125,319$161,464

X-2 Savings and temporary cash investmentsStart of year $4,399,231$2,892,730

X-3 Pledges and grants receivableStart of year $1,730,977$503,188

X-9 Prepaid expenses and deferred chargesStart of year $191,618$433,437

X-10c Land, buildings and equipment, netStart of year $2,663,362$2,860,614

X-15 Other assetsStart of year $5,263,854$8,791,673

X-16 Total assetsStart of year $14,374,361$15,643,106

X-17 Accounts payable and accrued expensesStart of year $1,227,156$1,494,750

X-19 Deferred revenue$40,320

X-25 Other liabilitiesStart of year $3,065,811$6,931,128

X-26 Total liabilitiesStart of year $4,292,967$8,466,198

X-27 Net assets without donor restrictionsStart of year $10,081,394$7,176,908

X-32 Total net assets or fund balancesStart of year $10,081,394$7,176,908

X-33 Total liabilities and net assetsStart of year $14,374,361$15,643,106

Part XI · Reconciliation of net assets $7,176,908 net assets at year end

XI-1 Total revenue$21,779,475

XI-2 Total expenses$24,683,961

XI-3 Revenue less expenses−$2,904,486

XI-4 Net assets at start of year$10,081,394

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$7,176,908

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

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