INDEPENDENCE CHARTER SCHOOL (EIN 233060261) - Form 990 Financial Analysis & Trantor Score

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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

2001

Legal Domicile

Principal Officer

MATT KELLEY

Phone

2152388000

Tax Period

2023-07-01 to 2024-06-30

INDEPENDENCE CHARTER SCHOOL, founded in 2001, is a mid-sized nonprofit in the Education sector that reported $19.0M in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion.

Mission

THE PRIMARY MISSION OF INDEPENDENCE CHARTER SCHOOL IS TO PROVIDE ANINTELLECTUALLY STIMULATING CURRICULUM WITH AN INTERNATIONAL FOCUS,EMPHASIZING THE ARTS, LANGUAGES, IDEAS, AND HISTORIES, FROM AN ARRAY OFCULTURES FROM AROUND THE WORLD. TO MEET ITS GOALS, THE SCHOOL DRAWSHEAVILY ON THE RESOURCES AVAILABLE IN PHILADELPHIA - THE MUSEUMS,HISTORIC LANDMARKS, BUSINESSES, SCHOOLS, PARKS, AND COMMUNITIES, ANDFAMILIES.

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $5,328,910

Program Service Revenue $13,447,965

Investment Income $75,724

Other Revenue $102,283

TOTAL REVENUE $18,954,882

Expense Breakdown

Grants Paid $0

Salaries & Benefits $10,845,629

Fundraising Expenses $0

Program Expenses $15,441,747

Other Expenses $9,778,469

TOTAL EXPENSES $20,624,098

Year-over-Year Comparison

	2023	2022	Change
Revenue	$18,954,882	$17,137,299	+0.1%
Expenses	$20,624,098	$18,721,305	+0.1%
Net Income	$-1,669,216	$-1,584,006	+0.1%

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

Governance

Voting Members

Independent Members

Employees

162

Volunteers

146

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

$599,160

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TANYA RULEY-MAYO	CEO	40.00	Officer	$169,365	$64,128	$233,493
KRISTEN LONG	PRINCIPAL	40.00	Officer	$136,223	$66,240	$202,463
RAMZY ANDRAWOS	DIRECTOR OF OPS	40.00	Officer	$107,269	$55,935	$163,204
ALLISON KELSEY	PRESIDENT	1.00	Officer Director	$0	$0	$0
JUSTIN CSIK ESQ	TREASURER	1.00	Officer Director	$0	$0	$0
SEKOU CAMPBELL	BOARD SECRETARY	1.00	Officer Director	$0	$0	$0
GAURAV RAY CHAUDHURY	TRUSTEE	1.00	Director	$0	$0	$0
TIYE THOMPSON	TRUSTEE	1.00	Director	$0	$0	$0
JON LANDAU	TRUSTEE	1.00	Director	$0	$0	$0
ZACHARY SMOAK	TRUSTEE	1.00	Director	$0	$0	$0
JACQUIE PATTERSON	TRUSTEE	1.00	Director	$0	$0	$0
ALLY LAMSON	TRUSTEE	1.00	Director	$0	$0	$0
DANAE MOBLEY	TRUSTEE	1.00	Director	$0	$0	$0
THOMAS DI GUILIO	TRUSTEE	1.00	Director	$0	$0	$0
GINA TOPPIN	TRUSTEE	1.00	Director	$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	$18,954,882	$20,624,098	$26,558,298	$-1,669,216
2023	$17,137,299	$18,721,305	$28,894,334	$-1,584,006
2022	$15,900,595	$16,689,445	$31,381,164	$-788,850
2021	$14,425,850	$12,821,782	$12,377,005	$1,604,068
2020	$13,362,863	$11,645,806	$10,340,204	$1,717,057
2019	$12,778,304	$11,341,044	$9,526,474	$1,437,260
2018	$11,171,239	$10,659,289	$9,149,621	$511,950

INDEPENDENCE CHARTER SCHOOL