Charter Foundation INC FY2023 filing

Tax-deductible

Tucson, AZ501(c)(3)Since 1995EducationEIN 86-0797698Revenue $8.7M in FY2023

On file with the IRSamerischools.org1150 N Country Club Rd, 85716-3942 · Tucson, AZTax-exempt since Dec 1996School — 170(b)(1)(A)(ii)

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An educational facility holding a 20 year Charter serving grades k-12 in arizona. We have locations in tucson, yuma and phoenix.

501(c)(3) charity; gifts are tax-deductible.
80¢ of each $1 spent went to programs.
$151K 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

FY2023 · 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 6
filings with a surplus
Average surplus $801K a year · 11% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
80%
of spending
Looks good: 80% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$151K
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
8 mo
of spending, in cash
Looks good: 8.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$9.1M
61% of total assets
Fine: liabilities are 61% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
2
of 4 voting members
Fine: 2 of 4 voting members are independent, half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$8.7M
+25% vs prior year
Spent
$6.3M
To programs
80%
Net assets
$5.9M
By yearFY2020–FY2025
Revenue
$8.7M
FY2023▲ +25%
Tap a bar for its year
Revenue by fiscal year
FY2020$5.6M
FY2021$6.9M
FY2022$6.9M
FY2023$8.7M
FY2024$7.7M
FY2025$6.6M
Expenses
$6.3M
FY2023▲ +1%
Tap a bar for its year
Expenses by fiscal year
FY2020$5.9M
FY2021$6.1M
FY2022$6.3M
FY2023$6.3M
FY2024$6.5M
FY2025$6.4M
Net assets
$5.9M
FY2023▲ +64%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.1M
FY2021$2.9M
FY2022$3.6M
FY2023$5.9M
FY2024$6.6M
FY2025$6.7M

From the FY2023 Form 990 (year ending June 2023) · 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 Dec 1996.

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

Where the money goes

80 cents of each dollar spent went to programs.

Program services 80% · $5.1M Management & general 20% · $1.2M

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

4 people listed on the 990; $151K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Vice-President, Secretary, CEO
$78,546Pt VII · Sec A
$72,000Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Dee Kidd’s $114K as Vice President, Secretary, CEO is at the 41st percentile of top reported officer pay among 3395 $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 · 3 named individuals · Part VII

NameFY2025FY2024FY2023
Dee Kidd$113,750$101,750$78,546
Dudley Butts$3,000$73,500—
Dudley W Butts JR——$72,000

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 Charter Foundation INC executive salaries →

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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 15aNo
  • Loans to or from officersSch L · Pt II5 listed

Programs and updates

Educates K-12 students in Arizona with locations in Tucson, Yuma, and Phoenix.

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Provided by the organization

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1 program · $5.1M · in their own filed words · FY2022
01

Highly performing charter school in a diverse economic and cultural community. The school provides a complete course of study in core subjects for students grades k-12. Students are taught core subjects in multi-age settings through center-based learning and direct instruction.

$5.1Mprogram expense

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$8.7M
Ln 12
Fees for servicesLn 2g$4.7M
Gifts and grantsLn 1h$3.8M
Other incomeLn 4–11$63K
Money outPt IX
$6.3M
Ln 25
Programscol B$5.1M
Managementcol C$1.2M
Owns and owesPt X
$5.9M
net assets · Ln 32
Cash and savingsLn 1–2$4.2M
Total assetsLn 16$15.1M
LiabilitiesLn 26$9.1M
PeoplePt VI, VII
4
listed · VII A
PaidVII A2
Voting boardVI 1a4
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3.8M
Government grantsLn 1e$3.7M
Fees for servicesLn 2g$4.7M
Investment incomeLn 3$51K
Other incomeLn 4–11$63K
Total revenueLn 12$8.7M
Assets in detailPt X, end of year
CashLn 1$3.3M
SavingsLn 2$855K
Cash and savings togetherLn 1–2$4.2M
InvestmentsLn 11–13$774K
Land, buildings, equipmentLn 10c$9.4M
Total assetsLn 16$15.1M
LiabilitiesLn 26$9.1M
Net assetsLn 32$5.9M
OperationsPt I, VI
EmployeesI 535
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 FY23End FY23
Cash and savingsLn 1–2$2.3M$4.2M
InvestmentsLn 11–13$774K
Land, buildings, equipmentLn 10c$1.2M$9.4M
Total assetsLn 16$4.0M$15.1M
LiabilitiesLn 26$378K$9.1M
Net assetsLn 32$3.6M$5.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$1.6M$1.2M$458K
Pension plan contributionsLn 8$122K$97K$25K
Other employee benefitsLn 9$87K$87K
Payroll taxesLn 10$205K$114K$91K
Legal feesLn 11b$4K$4K
Accounting feesLn 11c$67K$67K
Other fees for servicesLn 11g$2.1M$1.7M$441K
Advertising and promotionLn 12$44K$44K
Office expensesLn 13$24K$24K
OccupancyLn 16$754K$701K$53K
InterestLn 20$506K$470K$37K
Depreciation, depletion and amortizationLn 22$224K$210K$14K
Other expenses (24a–d)Ln 24$490K$478K$12K
All other expensesLn 24e$24K$24K
Total functional expensesLn 25$6.3M$5.1M$1.2M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $6.6M$6.4M$113K$6.7M 990 PDF
FY2024 $7.7M$6.5M$1.1M$6.6M 990 PDF
FY2023 Viewing $8.7M$6.3M$2.3M$5.9M 990 PDF
FY2022 $6.9M$6.3M$670K$3.6M 990 PDF
FY2021 $6.9M$6.1M$845K$2.9M 990 PDF
FY2020 $5.6M$5.9M−$266K$2.1M 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 FY2023 990 (6 parts)
Part I · Summary $8,653,565 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,300,692$3,794,792
I-9 Program service revenuePrior year $4,630,313$4,744,740
I-10 Investment incomePrior year $635$50,674
I-11 Other revenuePrior year $0$63,359
I-12 Total revenuePrior year $6,931,640$8,653,565
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 $3,612,929$2,060,408
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $2,649,088$4,265,890
I-18 Total expensesPrior year $6,262,017$6,326,298
I-19 Revenue less expensesPrior year $669,623$2,327,267
Part VI · Governance 2 of 4 board members independent, 2 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members2
VI-13 Written whistleblower policyNo
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-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $8,653,565 across 7 lines filed
VIII-1e Government grants$3,667,590
VIII-1f All other contributions, gifts and grants$127,202
VIII-1h Total contributions, gifts and grants$3,794,792
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $4,744,740$4,744,740
VIII-3 Investment incomeExcluded from tax $50,674$50,674
VIII-6 Net rental income or lossRelated to mission $63,359$63,359
VIII-12 Total revenueRelated to mission $4,808,099 · Unrelated business $0 · Excluded from tax $50,674$8,653,565
Part IX · Statement of functional expenses $6,326,298 across 14 lines filed
IX-7 Other salaries and wagesPrograms $1,187,889 · Management $458,214$1,646,103
IX-8 Pension plan contributionsPrograms $97,495 · Management $24,695$122,190
IX-9 Other employee benefitsPrograms $86,701$86,701
IX-10 Payroll taxesPrograms $114,104 · Management $91,310$205,414
IX-11b Legal feesManagement $3,604$3,604
IX-11c Accounting feesManagement $67,480$67,480
IX-11g Other fees for servicesPrograms $1,687,798 · Management $441,173$2,128,971
IX-12 Advertising and promotionManagement $44,252$44,252
IX-13 Office expensesPrograms $23,657$23,657
IX-16 OccupancyPrograms $700,889 · Management $52,755$753,644
IX-20 InterestPrograms $469,736 · Management $36,761$506,497
IX-22 Depreciation, depletion and amortizationPrograms $209,658 · Management $14,362$224,020
IX-24 Other expenses (24a–d)Programs $478,249 · Management $11,527$489,776
IX-24e All other expensesPrograms $23,989$23,989
IX-25 Total functional expensesPrograms $5,080,165 · Management $1,246,133 · Fundraising $0$6,326,298
Part X · Balance sheet $15,062,141 assets, 14 lines filed
Asset lines not itemized here account for $463,704; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $2,302,746$3,339,128
X-2 Savings and temporary cash investments$855,116
X-4 Accounts receivableStart of year $366,296$215,759
X-9 Prepaid expenses and deferred chargesStart of year $44,273$33,412
X-10c Land, buildings and equipment, netStart of year $1,212,189$9,381,296
X-13 Program-related investments$773,726
X-16 Total assetsStart of year $3,993,634$15,062,141
X-17 Accounts payable and accrued expensesStart of year $104,153$84,898
X-25 Other liabilitiesStart of year $59,785$8,924,816
X-26 Total liabilitiesStart of year $378,158$9,119,398
X-27 Net assets without donor restrictionsStart of year $3,579,706$5,900,734
X-28 Net assets with donor restrictionsStart of year $35,770$42,009
X-32 Total net assets or fund balancesStart of year $3,615,476$5,942,743
X-33 Total liabilities and net assetsStart of year $3,993,634$15,062,141
Part XI · Reconciliation of net assets $5,942,743 net assets at year end
XI-1 Total revenue$8,653,565
XI-2 Total expenses$6,326,298
XI-3 Revenue less expenses$2,327,267
XI-4 Net assets at start of year$3,615,476
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$5,942,743

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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