The Equity Project Charter School

Tax-deductible

New York, NY501(c)(3)Since 2008EducationEIN 90-0354470

To achieve educational equity for students from traditionally underserved communities by utilizing master teachers to provide rigorous academics, arts, and athletics instruction (the 3 a's).

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
Run by 6 volunteers and 198 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
3 of 5
filings with a surplus
Average deficit $320K a year · 1% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.2M
to officers and key staff · 4% of spending
Top officer’s pay lower than 68% of similar orgs
Looks good: pay to officers and key staff is 4% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 3.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $143K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$17.9M
67% of total assets
Worth a look: liabilities are 67% of assets; over 65%.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$27.8M
-2% vs prior year
Spent
$27.3M
To programs
91%
Net assets
$8.7M
By yearFY2020–FY2024
Revenue
$27.8M
FY2024▼ -2%
Revenue by fiscal year
FY2020$21.8M
FY2021$23.7M
FY2022$28.1M
FY2023$26.7M
FY2024$28.4M
FY2024$27.8M
Expenses
$27.3M
FY2024▼ -21%
Expenses by fiscal year
FY2020$22.0M
FY2021$23.1M
FY2022$24.7M
FY2023$25.8M
FY2024$34.7M
FY2024$27.3M
Net assets
$8.7M
FY2024▲ +2%
Net assets by fiscal year
FY2020$10.2M
FY2021$10.8M
FY2022$14.3M
FY2023$14.9M
FY2024$8.6M
FY2024$8.7M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 2009.

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

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $24.9M Management & general 9% · $2.3M Fundraising 0% · $46K

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

Who runs it and what they're paid

13 people listed on the 990; $1.2M paid to officers and key staff.

Part VII, Section A · reportable compensation
Head of School
$187,735Pt VII · Sec A
$169,909Pt VII · Sec A
$169,861Pt VII · Sec A
Chief Executive Officer
$169,244Pt VII · Sec A
$168,951Pt VII · Sec A
$168,069Pt VII · Sec A
$161,557Pt VII · Sec A
$0Pt VII · Sec A

Casey Ash’s $188K as Head of School is at the 32nd 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

NameFY2024FY2024FY2023FY2022FY2021FY2020
Casey Ash$187,735$182,943$181,569$173,310$167,629$173,604
Anatea Carpenter$169,909$160,456$157,296$155,892——
Joseph Carbone$169,861$157,490$157,231$148,608$146,619$153,360
Shelly Gupta—$169,774$166,281$155,577$154,435$121,540
Aaron Villela$169,244$159,774$156,281$149,368——
Kofi Wilson$168,951$158,121———$150,549
Harris Brown$168,069—$156,934$147,080——
Bartholomew Lockwood$161,557—————

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 The Equity Project Charter School 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 15aYes

Programs and updates

Educates low-income students with high-quality programs.

Provided by the organization

This section is blank until The Equity Project Charter School claims this page.

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1 program service account for $24.9M of program spending, described in the organization's own filed words · FY2024.
01

The school's mission is focused on providing students from low-income families with equal access to outstanding teachers as a means of achieving educational equality. The school is uniquely focused on attracting and retaining master teachers.

$24.9Mprogram 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 · received and paid
Grants received · FY2024
Total grants receivedfrom 3 funders$143K
See all 3 funders →
Grants paid · 4 grants · $219K · 2022–2024
Unitemized GrantFY2024$19,000
Unitemized GrantFY2023$9,000

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$27.8M
Ln 12
Fees for servicesLn 2g$25.1M
Gifts and grantsLn 1h$2.3M
Investment incomeLn 3$353K
Money outPt IX
$27.3M
Ln 25
Programscol B$24.9M
Managementcol C$2.3M
Fundraisingcol D$46K
Owns and owesPt X
$8.7M
net assets · Ln 32
Cash and savingsLn 1–2$8.8M
Total assetsLn 16$26.6M
LiabilitiesLn 26$17.9M
PeoplePt VI, VII
13
listed · VII A
PaidVII A7
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.3M
Government grantsLn 1e$2.1M
Noncash giftsLn 1g$87K
Fees for servicesLn 2g$25.1M
Investment incomeLn 3$353K
Other incomeLn 4–11$113K
Total revenueLn 12$27.8M
Assets in detailPt X, end of year
CashLn 1$624K
SavingsLn 2$8.2M
Cash and savings togetherLn 1–2$8.8M
Land, buildings, equipmentLn 10c$1.2M
Other assetsLn 15$16.1M
Total assetsLn 16$26.6M
LiabilitiesLn 26$17.9M
Net assetsLn 32$8.7M
OperationsPt I, VI
EmployeesI 5198
VolunteersI 66
Fiscal year endsHeaderDecember
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 FY24End FY24
Cash and savingsLn 1–2$7.5M$8.8M
Land, buildings, equipmentLn 10c$1.7M$1.2M
Total assetsLn 16$27.5M$26.6M
LiabilitiesLn 26$18.9M$17.9M
Net assetsLn 32$8.6M$8.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$19K$19K
Pay of current officers, directors and key staffLn 5$415K$161K$254K
Other salaries and wagesLn 7$16.7M$15.6M$1.0M$29K
Pension plan contributionsLn 8$250K$234K$15K$465
Other employee benefitsLn 9$1.3M$1.2M$73K$2K
Payroll taxesLn 10$1.4M$1.3M$106K$2K
Legal feesLn 11b$28K$28K
Accounting feesLn 11c$288K$288K
Other fees for servicesLn 11g$627K$493K$134K$443
Advertising and promotionLn 12$191K$179K$12K$275
Office expensesLn 13$275K$198K$74K$4K
Information technologyLn 14$478K$444K$33K$757
OccupancyLn 16$1.8M$1.7M$102K$2K
TravelLn 17$3K$3K$205$5
InterestLn 20$3K$3K$260$6
Depreciation, depletion and amortizationLn 22$975K$905K$69K$2K
InsuranceLn 23$228K$203K$25K$558
Other expenses (24a–d)Ln 24$2.0M$1.9M$85K$2K
All other expensesLn 24e$373K$369K$3K$79
Total functional expensesLn 25$27.3M$24.9M$2.3M$46K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $28.4M$34.7M−$6.3M$8.6M 990 PDF
FY2023 $26.7M$25.8M$867K$14.9M 990 PDF
FY2022 $28.1M$24.7M$3.5M$14.3M 990 PDF
FY2021 $23.7M$23.1M$586K$10.8M 990 PDF
FY2020 $21.8M$22.0M−$254K$10.2M 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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $27,813,862 across 8 lines filed
VIII-1e Government grants$2,117,698
VIII-1f All other contributions, gifts and grants$149,000
VIII-1g Noncash contributions (included above)$87,058
VIII-1h Total contributions, gifts and grants$2,266,698
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $25,081,444$25,081,444
VIII-3 Investment incomeExcluded from tax $353,051$353,051
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $112,669$112,669
VIII-12 Total revenueRelated to mission $25,081,444 · Unrelated business $0 · Excluded from tax $465,720$27,813,862
Part IX · Statement of functional expenses $27,269,844 across 19 lines filed
IX-2 Grants to domestic individualsPrograms $19,000$19,000
IX-5 Pay of current officers, directors and key staffPrograms $161,368 · Management $253,564$414,932
IX-7 Other salaries and wagesPrograms $15,600,890 · Management $1,044,215 · Fundraising $28,829$16,673,934
IX-8 Pension plan contributionsPrograms $234,024 · Management $15,461 · Fundraising $465$249,950
IX-9 Other employee benefitsPrograms $1,190,904 · Management $72,684 · Fundraising $2,200$1,265,788
IX-10 Payroll taxesPrograms $1,315,902 · Management $106,110 · Fundraising $2,409$1,424,421
IX-11b Legal feesManagement $27,567$27,567
IX-11c Accounting feesManagement $287,989$287,989
IX-11g Other fees for servicesPrograms $493,227 · Management $133,634 · Fundraising $443$627,304
IX-12 Advertising and promotionPrograms $178,559 · Management $12,107 · Fundraising $275$190,941
IX-13 Office expensesPrograms $197,861 · Management $73,542 · Fundraising $3,980$275,383
IX-14 Information technologyPrograms $444,268 · Management $33,342 · Fundraising $757$478,367
IX-16 OccupancyPrograms $1,677,738 · Management $101,646 · Fundraising $2,308$1,781,692
IX-17 TravelPrograms $2,541 · Management $205 · Fundraising $5$2,751
IX-20 InterestPrograms $3,223 · Management $260 · Fundraising $6$3,489
IX-22 Depreciation, depletion and amortizationPrograms $904,642 · Management $68,882 · Fundraising $1,564$975,088
IX-23 InsurancePrograms $202,949 · Management $24,582 · Fundraising $558$228,089
IX-24 Other expenses (24a–d)Programs $1,883,194 · Management $85,388 · Fundraising $1,938$1,970,520
IX-24e All other expensesPrograms $369,073 · Management $3,487 · Fundraising $79$372,639
IX-25 Total functional expensesPrograms $24,879,363 · Management $2,344,665 · Fundraising $45,816$27,269,844
Part X · Balance sheet $26,582,281 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $582,303$623,711
X-2 Savings and temporary cash investmentsStart of year $6,930,661$8,155,875
X-3 Pledges and grants receivableStart of year $898,536$314,365
X-9 Prepaid expenses and deferred chargesStart of year $129,905$120,985
X-10c Land, buildings and equipment, netStart of year $1,745,528$1,240,644
X-15 Other assetsStart of year $17,205,701$16,126,701
X-16 Total assetsStart of year $27,492,634$26,582,281
X-17 Accounts payable and accrued expensesStart of year $1,991,110$2,053,703
X-19 Deferred revenueStart of year $100,000$20,778
X-20 Tax-exempt bond liabilitiesStart of year $14,848,649$14,655,004
X-25 Other liabilitiesStart of year $1,995,782$1,127,954
X-26 Total liabilitiesStart of year $18,935,541$17,857,439
X-27 Net assets without donor restrictionsStart of year $8,557,093$8,724,842
X-32 Total net assets or fund balancesStart of year $8,557,093$8,724,842
X-33 Total liabilities and net assetsStart of year $27,492,634$26,582,281
Part XI · Reconciliation of net assets $8,724,842 net assets at year end
XI-1 Total revenue$27,813,862
XI-2 Total expenses$27,269,844
XI-3 Revenue less expenses$544,018
XI-4 Net assets at start of year$8,557,093
XI-9 Other changes in net assets−$376,269
XI-10 Net assets at end of year$8,724,842

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

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