The Equity Project Charter School FY2022 filing

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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.
92¢ of each $1 spent went to programs.
$1.1M 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

FY2022 · 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
4 of 6
filings with a surplus
Average deficit $176K a year · under 1% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.1M
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
2 mo
of spending, in cash
Plus $8.4M in investments, Pt X · Ln 11–13
Fine: 1.8 months of spending in cash; 1 to 3.
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
$2.5M
15% of total assets
Looks good: liabilities are 15% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$28.1M
+19% vs prior year
Spent
$24.7M
To programs
92%
Net assets
$14.3M
By yearFY2020–FY2025
Revenue
$28.1M
FY2022▲ +19%
Tap a bar for its year
Revenue by fiscal year
FY2020$21.8M
FY2021$23.7M
FY2022$28.1M
FY2023$26.7M
FY2024$28.4M
FY2025$27.8M
Expenses
$24.7M
FY2022▲ +7%
Tap a bar for its year
Expenses by fiscal year
FY2020$22.0M
FY2021$23.1M
FY2022$24.7M
FY2023$25.8M
FY2024$34.7M
FY2025$27.3M
Net assets
$14.3M
FY2022▲ +32%
Tap a bar for its year
Net assets by fiscal year
FY2020$10.2M
FY2021$10.8M
FY2022$14.3M
FY2023$14.9M
FY2024$8.6M
FY2025$8.7M

From the FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 2009.

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

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $22.6M Management & general 8% · $2.0M Fundraising 0% · $30K

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

14 people listed on the 990; $1.1M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Principal
$173,310Pt VII · Sec A
Assistant Director
$155,892Pt VII · Sec A
Chief Financial Officer
$155,577Pt VII · Sec A
Chief Executive Officer
$149,368Pt VII · Sec A
$148,608Pt VII · Sec A
$147,080Pt VII · Sec A
School Director
$146,578Pt VII · Sec A
Principal (thru June 2021)
$63,294Pt 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

NameFY2025FY2024FY2023FY2022FY2021FY2020
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 →

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.

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1 program · $22.6M · in their own filed words · FY2021
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.

$22.6Mprogram 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
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

Federal money

Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending Jun 2025 · $1.6M federal money spent
National School Lunch ProgramDepartment of Agriculture · ALN 10.555 · Through New York State Education Department$864K
Title I Grants to Local Educational AgenciesDepartment of Education · ALN 84.010 · Through New York State Education Department$366K
School Breakfast ProgramDepartment of Agriculture · ALN 10.553 · Through New York State Education Department$290K
Supporting Effective Instruction State Grants (formerly Improving Teacher Quality State Grants)Department of Education · ALN 84.367 · Through New York State Education Department$53K
English Language Acquisition State GrantsDepartment of Education · ALN 84.365 · Through New York State Education Department$35K

Plus 1 smaller program.

The auditor reported no findings.

Year ending Jun 2024 · $2.6M federal money spent
Education Stabilization FundDepartment of Education · ALN 84.425 · Through New York State Education Department$940K
National School Lunch ProgramDepartment of Agriculture · ALN 10.555 · Through New York State Education Department$851K
Title I Grants to Local Educational AgenciesDepartment of Education · ALN 84.010 · Through New York State Education Department$369K
School Breakfast ProgramDepartment of Agriculture · ALN 10.553 · Through New York State Education Department$293K
Special Education Grants to StatesDepartment of Education · ALN 84.027 · Through New York State Education Department$49K

Plus 4 smaller programs.

The auditor reported no findings.

Year ending Jun 2023 · $6.0M federal money spent
Education Stabilization FundDepartment of Education · ALN 84.425 · Through New York State Education Department$2.6M
National School Lunch ProgramDepartment of Agriculture · ALN 10.555 · Through New York State Education Department$1.7M
Title I Grants to Local Educational AgenciesDepartment of Education · ALN 84.010 · Through New York State Education Department$729K
School Breakfast ProgramDepartment of Agriculture · ALN 10.553 · Through New York State Education Department$571K
Fresh Fruit and Vegetable ProgramDepartment of Agriculture · ALN 10.582 · Through New York State Education Department$147K

Plus 6 smaller programs.

The auditor reported no findings.

Year ending Jun 2022 · $2.9M federal money spent
Education Stabilization FundDepartment of Education · ALN 84.425 · Through New York State Education Department$1.4M
National School Lunch ProgramDepartment of Agriculture · ALN 10.555 · Through New York State Education Department$767K
Title I Grants to Local Educational AgenciesDepartment of Education · ALN 84.010 · Through New York State Education Department$336K
School Breakfast ProgramDepartment of Agriculture · ALN 10.553 · Through New York State Education Department$255K
Improving Teacher Quality State GrantsDepartment of Education · ALN 84.367 · Through New York State Education Department$45K

Plus 4 smaller programs.

The auditor reported no findings.

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$28.1M
Ln 12
Fees for servicesLn 2g$22.1M
Gifts and grantsLn 1h$6.0M
Other incomeLn 4–11$32K
Money outPt IX
$24.7M
Ln 25
Programscol B$22.6M
Managementcol C$2.0M
Fundraisingcol D$30K
Owns and owesPt X
$14.3M
net assets · Ln 32
Cash and savingsLn 1–2$3.7M
Total assetsLn 16$16.8M
LiabilitiesLn 26$2.5M
PeoplePt VI, VII
14
listed · VII A
PaidVII A8
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$6.0M
Government grantsLn 1e$6.0M
Fees for servicesLn 2g$22.1M
Investment incomeLn 3$149
Other incomeLn 4–11$32K
Total revenueLn 12$28.1M
Assets in detailPt X, end of year
CashLn 1$582K
SavingsLn 2$3.1M
Cash and savings togetherLn 1–2$3.7M
Pledges and grants receivableLn 3$1.3M
Accounts receivableLn 4$58K
Prepaid expenses and deferred chargesLn 9$132K
Land, buildings, equipmentLn 10c$3.0M
InvestmentsLn 11–13$8.4M
Other assetsLn 15$240K
Total assetsLn 16$16.8M
LiabilitiesLn 26$2.5M
Net assetsLn 32$14.3M
OperationsPt I, VI
EmployeesI 5198
VolunteersI 66
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 FY22End FY22
Cash and savingsLn 1–2$3.2M$3.7M
InvestmentsLn 11–13$8.4M$8.4M
Land, buildings, equipmentLn 10c$3.8M$3.0M
Total assetsLn 16$16.4M$16.8M
LiabilitiesLn 26$5.6M$2.5M
Net assetsLn 32$10.8M$14.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$535K$396K$121K$17K
Other salaries and wagesLn 7$14.3M$13.2M$1.1M$8K
Pension plan contributionsLn 8$176K$161K$15K$297
Other employee benefitsLn 9$1.1M$972K$88K$2K
Payroll taxesLn 10$1.3M$1.2M$104K$2K
Accounting feesLn 11c$113K$113K
Other fees for servicesLn 11g$340K$304K$36K$141
Advertising and promotionLn 12$167K$153K$14K
Office expensesLn 13$268K$241K$27K$337
Information technologyLn 14$345K$316K$29K
OccupancyLn 16$2.7M$2.4M$224K
TravelLn 17$5K$4K$851
Conferences, conventions and meetingsLn 19$15K$15K
Depreciation, depletion and amortizationLn 22$1.1M$964K$89K
InsuranceLn 23$186K$170K$16K
Other expenses (24a–d)Ln 24$2.0M$2.0M$21K
All other expensesLn 24e$113K$104K$9K$81
Total functional expensesLn 25$24.7M$22.6M$2.0M$30K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS May 15, 2026 $27.8M$27.3M$544K$8.7M 990 PDF
FY2024Filed with the IRS May 15, 2025 $28.4M$34.7M−$6.3M$8.6M 990 PDF
FY2023Filed with the IRS May 10, 2024 $26.7M$25.8M$867K$14.9M 990 PDF
FY2022 ViewingFiled with the IRS May 16, 2023 $28.1M$24.7M$3.5M$14.3M 990 PDF
FY2021Filed with the IRS May 16, 2022 $23.7M$23.1M$586K$10.8M 990 PDF
FY2020Filed with the IRS May 17, 2021 $21.8M$22.0M−$254K$10.2M 990 PDF

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 FY2022 990 (6 parts)
Part I · Summary $28,143,929 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,932,992$6,020,750
I-9 Program service revenuePrior year $21,717,948$22,090,629
I-10 Investment incomePrior year $329$149
I-11 Other revenuePrior year $73,938$32,401
I-12 Total revenuePrior year $23,725,207$28,143,929
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 $16,869,237$17,367,959
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $6,270,164$7,302,022
I-18 Total expensesPrior year $23,139,401$24,669,981
I-19 Revenue less expensesPrior year $585,806$3,473,948
Part VI · Governance 6 of 6 board members independent, no flags
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
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 $28,143,929 across 7 lines filed
VIII-1e Government grants$5,993,100
VIII-1f All other contributions, gifts and grants$27,650
VIII-1h Total contributions, gifts and grants$6,020,750
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $22,090,629$22,090,629
VIII-3 Investment incomeExcluded from tax $149$149
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $32,401$32,401
VIII-12 Total revenueRelated to mission $22,090,629 · Unrelated business $0 · Excluded from tax $32,550$28,143,929
Part IX · Statement of functional expenses $24,669,981 across 17 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $396,210 · Management $121,144 · Fundraising $17,188$534,542
IX-7 Other salaries and wagesPrograms $13,220,865 · Management $1,107,963 · Fundraising $7,924$14,336,752
IX-8 Pension plan contributionsPrograms $161,141 · Management $14,545 · Fundraising $297$175,983
IX-9 Other employee benefitsPrograms $971,944 · Management $87,730 · Fundraising $1,792$1,061,466
IX-10 Payroll taxesPrograms $1,153,016 · Management $104,074 · Fundraising $2,126$1,259,216
IX-11c Accounting feesManagement $112,547$112,547
IX-11g Other fees for servicesPrograms $304,457 · Management $35,604 · Fundraising $141$340,202
IX-12 Advertising and promotionPrograms $152,813 · Management $14,075$166,888
IX-13 Office expensesPrograms $240,578 · Management $27,377 · Fundraising $337$268,292
IX-14 Information technologyPrograms $316,258 · Management $29,129$345,387
IX-16 OccupancyPrograms $2,432,358 · Management $224,035$2,656,393
IX-17 TravelPrograms $4,392 · Management $851$5,243
IX-19 Conferences, conventions and meetingsPrograms $15,390$15,390
IX-22 Depreciation, depletion and amortizationPrograms $963,943 · Management $88,785$1,052,728
IX-23 InsurancePrograms $170,464 · Management $15,700$186,164
IX-24 Other expenses (24a–d)Programs $2,018,552 · Management $21,429$2,039,981
IX-24e All other expensesPrograms $104,165 · Management $8,561 · Fundraising $81$112,807
IX-25 Total functional expensesPrograms $22,626,546 · Management $2,013,549 · Fundraising $29,886$24,669,981
Part X · Balance sheet $16,781,365 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $1,262,632$582,451
X-2 Savings and temporary cash investmentsStart of year $1,898,234$3,109,274
X-3 Pledges and grants receivableStart of year $804,539$1,252,913
X-4 Accounts receivableStart of year $30,878$57,990
X-9 Prepaid expenses and deferred chargesStart of year $118,631$131,552
X-10c Land, buildings and equipment, netStart of year $3,751,307$3,016,733
X-13 Program-related investmentsStart of year $8,390,890$8,390,890
X-15 Other assetsStart of year $132,613$239,562
X-16 Total assetsStart of year $16,389,724$16,781,365
X-17 Accounts payable and accrued expensesStart of year $1,842,533$1,943,313
X-19 Deferred revenueStart of year $56,834$108,827
X-23 Secured mortgages and notes payableStart of year $500,000$0
X-25 Other liabilitiesStart of year $3,187,674$463,984
X-26 Total liabilitiesStart of year $5,587,041$2,516,124
X-27 Net assets without donor restrictionsStart of year $10,527,683$13,990,241
X-28 Net assets with donor restrictionsStart of year $275,000$275,000
X-32 Total net assets or fund balancesStart of year $10,802,683$14,265,241
X-33 Total liabilities and net assetsStart of year $16,389,724$16,781,365
Part XI · Reconciliation of net assets $14,265,241 net assets at year end
XI-1 Total revenue$28,143,929
XI-2 Total expenses$24,669,981
XI-3 Revenue less expenses$3,473,948
XI-4 Net assets at start of year$10,802,683
XI-9 Other changes in net assets−$11,390
XI-10 Net assets at end of year$14,265,241

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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