Chesapeake Lighthouse Foundation INC: FY2024 Nonprofit Profile & Form 990 (EIN 83-0356333)

Zayn AK’s $203K as CEO is at the 38th 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
Ismail H Karaman	—	—	—	$220,255	—
Zayn AK	$202,682	$192,250	$181,904	$162,331	—
Ismail Hakki Karaman	—	—	—	—	$163,977
Beverly Donovan Education	$152,932	$143,627	—	—	—
Erkan Derin	$151,558	$144,523	$134,470	$123,643	$120,212
Tekin Tuncer	$149,927	$141,557	$132,076	—	—
Vedat Dogan	$147,311	$144,345	$134,366	$115,432	$110,849
Aydogan Karabulut	$143,995	—	—	—	—

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.

See Chesapeake Lighthouse Foundation INC executive salaries →

On this list? Claim this org

Something off? Claim to add context

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 15aNo

Programs and updates

Educates K-12 students with a focus on math, science, and technology.

Questions for Chesapeake Lighthouse Foundation INC

Tap to ask. Chesapeake Lighthouse Foundation INC sees how many people are interested.

Your first name shows with your question. Chesapeake Lighthouse Foundation INC answers here, for everyone.

Provided by the organization

Know this org? Add your story

1 program · $48.1M · in their own filed words · FY2023

01

The primary purpose of the foundation is to operate one or more public charter schools or other choice schools in the state of maryland in accordance with maryland senate bill 75 of 2003.

$48.1Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid

Grants received · FY2024

American Online Giving Foundation INCFY2024$7K

Maryland Assoc for Environmental & Outdoor Education INCFY2024$7K

Total grants receivedfrom 2 funders$13K

Grants paid · 1 grant · $19K · 2024–2024

Unitemized GrantFY2024$18,583

By the numbers

The FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$67.6M

Ln 12

Fees for servicesLn 2g$62.7M

Gifts and grantsLn 1h$4.7M

Investment incomeLn 3$190K

Money outPt IX

$58.6M

Ln 25

Programscol B$48.1M

Managementcol C$10.5M

Owns and owesPt X

$29.0M

net assets · Ln 32

Cash and savingsLn 1–2$27.4M

Total assetsLn 16$123.3M

LiabilitiesLn 26$94.3M

PeoplePt VI, VII

21

listed · VII A

PaidVII A7

Voting boardVI 1a13

IndependentVI 1b13

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$4.7M

Government grantsLn 1e$4.6M

Fees for servicesLn 2g$62.7M

Investment incomeLn 3$190K

Other incomeLn 4–11$22K

Gains on assetsLn 7−$17K

Total revenueLn 12$67.6M

Assets in detailPt X, end of year

CashLn 1$26.4M

SavingsLn 2$997K

Cash and savings togetherLn 1–2$27.4M

Land, buildings, equipmentLn 10c$65.0M

Other assetsLn 15$27.3M

Total assetsLn 16$123.3M

LiabilitiesLn 26$94.3M

Net assetsLn 32$29.0M

OperationsPt I, VI

EmployeesI 5120

VolunteersI 69

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 FY24	End FY24
Cash and savingsLn 1–2	$27.6M	$27.4M
Land, buildings, equipmentLn 10c	$64.7M	$65.0M
Total assetsLn 16	$105.0M	$123.3M
LiabilitiesLn 26	$77.9M	$94.3M
Net assetsLn 32	$27.1M	$29.0M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Pay of current officers, directors and key staffLn 5	$412K	$359K	$52K
Other salaries and wagesLn 7	$28.8M	$25.2M	$3.6M
Pension plan contributionsLn 8	$530K	$463K	$67K
Other employee benefitsLn 9	$4.6M	$4.0M	$585K
Payroll taxesLn 10	$1.5M	$1.4M	$196K
Legal feesLn 11b	$72K		$72K
Accounting feesLn 11c	$40K		$40K
Other fees for servicesLn 11g	$3.6M	$587K	$3.0M
Advertising and promotionLn 12	$61K	$50K	$11K
Office expensesLn 13	$480K	$334K	$146K
OccupancyLn 16	$5.7M	$4.6M	$1.1M
TravelLn 17	$7K	$6K	$1K
Conferences, conventions and meetingsLn 19	$34K	$27K	$7K
InterestLn 20	$2.2M	$1.8M	$441K
Depreciation, depletion and amortizationLn 22	$4.1M	$3.2M	$811K
InsuranceLn 23	$164K	$131K	$33K
Other expenses (24a–d)Ln 24	$5.8M	$5.7M	$148K
All other expensesLn 24e	$437K	$372K	$65K
Total functional expensesLn 25	$58.6M	$48.1M	$10.5M	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$65.3M	$61.7M	$3.6M	$32.0M	990 PDF
FY2024 Viewing	$67.6M	$58.6M	$9.0M	$29.0M	990 PDF
FY2023	$58.6M	$49.1M	$9.5M	$27.1M	990 PDF
FY2022	$48.4M	$43.0M	$5.4M	$17.6M	990 PDF
FY2021	$41.4M	$36.9M	$4.5M	$12.2M	990 PDF

More to add? Claim this org

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations

See the full FY2024 990 (6 parts)

Part I · Summary $67,569,282 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $6,335,345$4,662,673

I-9 Program service revenuePrior year $51,922,729$62,694,392

I-10 Investment incomePrior year $269,148$190,360

I-11 Other revenuePrior year $27,164$21,857

I-12 Total revenuePrior year $58,554,386$67,569,282

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 $28,617,362$35,915,253

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

I-17 Other expensesPrior year $20,448,773$22,697,777

I-18 Total expensesPrior year $49,066,135$58,613,030

I-19 Revenue less expensesPrior year $9,488,251$8,956,252

Part VI · Governance 13 of 13 board members independent, 1 to look at

VI-1a Voting members of the governing body13

VI-1b Independent voting members13

VI-15a Process for setting top official's payNo

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

Part VIII · Statement of revenue $67,569,282 across 8 lines filed

VIII-1e Government grants$4,638,434

VIII-1f All other contributions, gifts and grants$24,239

VIII-1h Total contributions, gifts and grants$4,662,673

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $62,694,392$62,694,392

VIII-3 Investment incomeExcluded from tax $207,462$207,462

VIII-7 Net gain or loss on sales of assetsExcluded from tax −$17,102−$17,102

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $21,857$21,857

VIII-12 Total revenueRelated to mission $62,694,392 · Unrelated business $0 · Excluded from tax $212,217$67,569,282

Part IX · Statement of functional expenses $58,613,030 across 18 lines filed

IX-5 Pay of current officers, directors and key staffPrograms $359,442 · Management $52,071$411,513

IX-7 Other salaries and wagesPrograms $25,154,429 · Management $3,643,945$28,798,374

IX-8 Pension plan contributionsPrograms $463,220 · Management $67,103$530,323

IX-9 Other employee benefitsPrograms $4,039,941 · Management $585,237$4,625,178

IX-10 Payroll taxesPrograms $1,353,756 · Management $196,109$1,549,865

IX-11b Legal feesManagement $72,312$72,312

IX-11c Accounting feesManagement $39,500$39,500

IX-11g Other fees for servicesPrograms $586,933 · Management $3,012,234$3,599,167

IX-12 Advertising and promotionPrograms $49,636 · Management $10,896$60,532

IX-13 Office expensesPrograms $334,130 · Management $146,129$480,259

IX-16 OccupancyPrograms $4,563,126 · Management $1,140,781$5,703,907

IX-17 TravelPrograms $5,668 · Management $1,417$7,085

IX-19 Conferences, conventions and meetingsPrograms $26,909 · Management $6,727$33,636

IX-20 InterestPrograms $1,762,662 · Management $440,666$2,203,328

IX-22 Depreciation, depletion and amortizationPrograms $3,244,835 · Management $811,209$4,056,044

IX-23 InsurancePrograms $131,148 · Management $32,787$163,935

IX-24 Other expenses (24a–d)Programs $5,692,449 · Management $148,348$5,840,797

IX-24e All other expensesPrograms $372,322 · Management $64,953$437,275

IX-25 Total functional expensesPrograms $48,140,606 · Management $10,472,424 · Fundraising $0$58,613,030

Part X · Balance sheet $123,251,178 assets, 15 lines filed

X-1 Cash, non-interest-bearingStart of year $18,680,225$26,444,612

X-2 Savings and temporary cash investmentsStart of year $8,886,156$997,321

X-3 Pledges and grants receivableStart of year $1,756,411$2,881,546

X-4 Accounts receivableStart of year $2,429,360$406,230

X-9 Prepaid expenses and deferred chargesStart of year $84,357$259,353

X-10c Land, buildings and equipment, netStart of year $64,704,621$65,002,321

X-15 Other assetsStart of year $8,452,512$27,259,795

X-16 Total assetsStart of year $104,993,642$123,251,178

X-17 Accounts payable and accrued expensesStart of year $1,108,504$624,744

X-19 Deferred revenue$390,773

X-25 Other liabilitiesStart of year $10,629,518$30,471,568

X-26 Total liabilitiesStart of year $77,855,506$94,254,646

X-27 Net assets without donor restrictionsStart of year $27,138,136$28,996,532

X-32 Total net assets or fund balancesStart of year $27,138,136$28,996,532

X-33 Total liabilities and net assetsStart of year $104,993,642$123,251,178

Part XI · Reconciliation of net assets $28,996,532 net assets at year end

XI-1 Total revenue$67,569,282

XI-2 Total expenses$58,613,030

XI-3 Revenue less expenses$8,956,252

XI-4 Net assets at start of year$27,138,136

XI-9 Other changes in net assets−$7,097,856

XI-10 Net assets at end of year$28,996,532

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

Your org? Add context

Made it to the end? Claim this org

Chesapeake Lighthouse Foundation INC FY2024 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid