THE FRIENDS OF TEAM CHARTER SCHOOLS INC

EIN: 201018667 501(c)(3) Education

NEWARK, NJ

Total Revenue
$15,217,036
Total Expenses
$11,131,185
Total Assets
$232,313,773
Net Assets
$59,415,850
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2004
Legal Domicile
NJ
Principal Officer
GABRIELLA DIFILIPPO
Phone
9736220905
Tax Period
2022-07-01 to 2023-06-30

THE FRIENDS OF TEAM CHARTER SCHOOLS INC, founded in 2004, is a mid-sized nonprofit in the Education sector that reported $15.2M in total revenue in fiscal year 2022. Revenue surged 30% from the prior year, signaling strong growth momentum. The organization ran a surplus of $4.1M, a strong 27% operating margin.

Mission

FOT WAS ORGANIZED TO PROVIDE SUPPORT AND SERVICES TO TEAM ACADEMY CHARTER SCHOOL, INC.(TEAM). THE SUPPORT SERVICES INCLUDE PROVIDING FINANCIAL SUPPORT AND REAL PROPERTY SERVICES DIRECTLY TO TEAM OR TO ITS STAFF TO FACILITATE THE PURPOSES AND PROGRAMS OF TEAM.

Program Service Accomplishments

Program 1
Expenses: $10,807,592 Revenue: $14,497,314

SUPPORT SERVICES INCLUDING PROVIDING FINANCIAL SUPPORT AND REAL PROPERTY SERVICES FOR FACILITIES USED BY TEAM TO OPERATE TEAM'S PROGRAMS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $22,261
Program Service Revenue $13,871,614
Investment Income $697,461
Other Revenue $625,700
TOTAL REVENUE $15,217,036

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $10,807,592
Other Expenses $11,131,185
TOTAL EXPENSES $11,131,185

Year-over-Year Comparison

2022 2021 Change
Revenue $15,217,036 $11,734,420 +0.3%
Expenses $11,131,185 $8,672,739 +0.3%
Net Income $4,085,851 $3,061,681 +0.3%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
5
Independent Members
5
Employees
N/A
Volunteers
5

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
2
$0
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SARA SORBELLO PRESIDENT 5.00
Officer Director
$0 $0 $0
TIMOTHY CARDEN MEMBER 5.00
Director
$0 $0 $0
LEA CIAVARRA MEMBER 5.00
Director
$0 $0 $0
JORDAN METZGER MEMBER 5.00
Director
$0 $0 $0
BLAIR RIDDER MEMBER 5.00
Director
$0 $0 $0
GABRIELLA DIFILIPPO SECRETARY (NON-VOTING) 5.00
Officer
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 No data No data No data No data
2023 $15,217,036 $11,131,185 $232,313,773 $4,085,851
2022 $11,734,420 $8,672,739 $241,241,974 $3,061,681
2021 $12,328,545 $7,401,905 $192,911,739 $4,926,640
2020 $10,896,407 $7,327,141 $140,895,383 $3,569,266
2019 $11,809,919 $8,633,573 $128,551,917 $3,176,346
2018 $10,699,772 $7,707,737 $110,750,034 $2,992,035
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