MARION P THOMAS CHARTER SCHOOL

EIN: 223531113 501(c)(3) Education

NEWARK, NJ

Total Revenue
$38,637,662
Total Expenses
$38,068,475
Total Assets
$20,743,450
Net Assets
$20,321,245
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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
1997
Legal Domicile
NJ
Principal Officer
JOSHUA SOLOW
Phone
9736210060
Tax Period
2024-07-01 to 2025-06-30

MARION P THOMAS CHARTER SCHOOL, founded in 1997, is a mid-sized nonprofit in the Education sector that reported $38.6M in total revenue in fiscal year 2024.

Mission

MARION P. THOMAS CHARTER SCHOOL IS ONE OF THE LARGEST CHARTER SCHOOL IN THE STATE OF NEW JERSEY. IT IS ONE OF THE ONLY MIMORITY-LED CHARTER SCHOOLS IN THE CITY OF NEWARK, REFLECTING BOTH ITS STUDENT POPULATION AND THE COMMUNITY IT SERVES. IT OFFERS A SEAMLESS EDUCATIONAL EXPERIENCE FROM CRAYONS TO COLLEGE GIVING NEWARK RESIDENTS THE OPPORTUNITY TO STAY WITHING ONE SCHOOL SYSTEM FOR THEIR ENTIRE PUBLIC EDUCATIONAL CAREER FROM PREKINDERGARTEN TO 12TH GRADE.

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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 (2024)

Revenue Breakdown

Contributions & Grants $37,045,251
Program Service Revenue $63,036
Investment Income $463,933
Other Revenue $1,065,442
TOTAL REVENUE $38,637,662

Expense Breakdown

Grants Paid $0
Salaries & Benefits $26,481,334
Fundraising Expenses $0
Program Expenses $26,951,335
Other Expenses $11,587,141
TOTAL EXPENSES $38,068,475

Year-over-Year Comparison

2024 2023 Change
Revenue $38,637,662 $40,667,141 0.0%
Expenses $38,068,475 $39,374,639 0.0%
Net Income $569,187 $1,292,502 -0.6%
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
7
Independent Members
7
Employees
388
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
4
$221,615
Total Directors
7
$0
Key Employees
1
$221,615
Highest Compensated
6
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
PASTOR VINCE ROUSE CHAIR 2.00
Officer Director
$0 $0 $0
DASHAR CARTER VICE CHAIR 2.00
Officer Director
$0 $0 $0
BRIANNA GILCHRIST MEMBER 2.00
Director
$0 $0 $0
DR PRINCESS TOWE MEMBER 2.00
Director
$0 $0 $0
JULIO VALDIEVIESO MEMBER 2.00
Director
$0 $0 $0
ALAN BOOMER MEMBER 2.00
Director
$0 $0 $0
TONI INCE MEMBER 2.00
Director
$0 $0 $0
ANGELA MINCY SUPERINTENDENT 40.00
Officer Key Emp Highest
$195,553 $26,062 $221,615
CHRISTOPHER ABBALEO ASSISTANT SUPERINTENDENT 40.00
Highest
$163,167 $0 $163,167
JOHN GAMBLE DIRECTOR K-8, MATH & TESTING 40.00
Highest
$154,063 $25,929 $179,992
RASHON MICKENS ED OF ATHLETICS & COMMUNITY RELATIONS 40.00
Highest
$137,802 $0 $137,802
DR PIA D MOORE DIRECTOR OF SPECIAL SERVICES 40.00
Highest
$141,964 $17,011 $158,975
PRAMOD SHANKAR MANAGING DIRECTOR OPERATIONS AND MAINTENANCE 40.00
Highest
$143,529 $26,062 $169,591
JOSHUA SOLOW SCHOOL BUSINESS ADMINISTRATOR 10.00
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 $38,637,662 $38,068,475 $20,743,450 $569,187
2024 $40,667,141 $39,374,639 $20,352,001 $1,292,502
2023 $41,357,127 $37,456,344 $19,525,163 $3,900,783
2022 $43,062,116 $35,250,593 $31,516,321 $7,811,523
2021 $37,041,604 $35,485,200 $17,560,259 $1,556,404
2020 $35,303,797 $35,502,933 $13,996,954 $-199,136
2019 $35,388,479 $36,589,809 $13,404,400 $-1,201,330
2018 $31,201,177 $34,869,117 $10,066,273 $-3,667,940
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