ASCEND CHARTER SCHOOLS

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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

2011

Legal Domicile

Principal Officer

RECY BENJAMIN

Phone

3474647600

Tax Period

2022-07-01 to 2023-06-30

ASCEND CHARTER SCHOOLS, founded in 2011, is a major nonprofit in the Education sector that reported $147.5M in total revenue in fiscal year 2022.

Mission

ASCEND CHARTER SCHOOLS' (THE "SCHOOL") MISSION IS TO EQUIP EVERY STUDENT WITH THE KNOWLEDGE, CONFIDENCE, AND CHARACTER TO SUCCEED IN COLLEGE AND BEYOND. THE SCHOOL WILL SPAN KINDERGARTEN THROUGH THE 12TH GRADE AT MATURITY. FROM THE EARLIEST GRADES, STUDENTS WILL STEADILY BUILD A STRONG FOUNDATION OF LEARNING HABITS, CRITICAL THINKING SKILLS, AND KNOWLEDGE; EXCEL ACADEMICALLY IN THE MIDDLE AND HIGH SCHOOL, MASTERING HIGH-LEVEL MATH AND SCIENCE; AND GRADUATE AS CONFIDENT YOUNG ADULTS, PREPARED TO SUCCEED AS COLLEGE STUDENTS, AS CITIZENS, AND AS LEADERS IN THEIR CHOSEN FIELDS.

Program Service Accomplishments

Program 1

Expenses: $120,534,545 Revenue: $124,783,772

ASCEND CHARTER SCHOOLS IS A NETWORK OF K-12 PUBLIC CHARTER SCHOOLS SERVING 5,690 STUDENTS IN 9 SCHOOLS ACROSS BROOKLYN, NEW YORK'S MOST POPULOUS BOROUGH. OUR UNDERTAKING IS TO LEAD OUR STUDENTS ON A GREAT INTELLECTUAL ADVENTURE, PROVIDE THEM WITH AN EXCEPTIONAL COLLEGE PREPARATORY EDUCATION, AND PLACE THEM FIRMLY ON THE PATH TO SUCCESS IN COLLEGE AND BEYOND.

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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 (2022)

Revenue Breakdown

Contributions & Grants $22,242,590

Program Service Revenue $124,783,772

Investment Income $462,621

Other Revenue $35,335

TOTAL REVENUE $147,524,318

Expense Breakdown

Grants Paid $0

Salaries & Benefits $72,933,560

Fundraising Expenses $0

Program Expenses $120,534,545

Other Expenses $73,011,960

TOTAL EXPENSES $145,945,520

Year-over-Year Comparison

	2022	2021	Change
Revenue	$147,524,318	$137,441,682	+0.1%
Expenses	$145,945,520	$135,665,583	+0.1%
Net Income	$1,578,798	$1,776,099	-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

596

Volunteers

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NADINE SYLVESTER	CHAIR	2.50	Officer Director	$0	$0	$0
STANLEY TAYLOR	VICE CHAIR	2.50	Officer Director	$0	$0	$0
SHELLY CLEARY	TREASURER	2.50	Officer Director	$0	$0	$0
EMMANUEL FORDJOUR	SECRETARY	2.50	Officer Director	$0	$0	$0
JANAI JETER	TRUSTEE	2.50	Director	$0	$0	$0
GAMAL WALKER	TRUSTEE	2.50	Director	$0	$0	$0
JACKIE WILSON	TRUSTEE	2.50	Director	$0	$0	$0
RECY BENJAMIN	CEO	40.00	Officer	$0	$0	$0
LIVIA ANGIOLILLO	PRINCIPAL	40.00	Highest	$176,072	$13,209	$189,281
LATASHA WILLIAMS	PRINCIPAL	40.00	Highest	$169,065	$11,567	$180,632
BILLIE QUIGLEY	PRINCIPAL	40.00	Highest	$163,357	$17,324	$180,681
LEYDE ST LEGER	PRINCIPAL	40.00	Highest	$149,119	$17,690	$166,809
LISA ROACH	PRINCIPAL	40.00	Highest	$142,092	$19,021	$161,113

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	$147,524,318	$145,945,520	$424,782,493	$1,578,798
2022	$137,441,682	$135,665,583	$56,267,292	$1,776,099
2021	$130,071,368	$116,547,501	$45,182,055	$13,523,867
2020	$117,818,252	$120,979,969	$29,376,376	$-3,161,717
2019	$103,657,162	$104,141,889	$23,948,867	$-484,727
2018	$85,211,791	$85,954,647	$22,245,821	$-742,856