CHARTER SCHOOLS DEVELOPMENT CORPOR… - Form 990 Financial Data

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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

Principal Officer

MICHELLE PROSPERI

Phone

4435611280

Tax Period

2023-01-01 to 2023-12-31

CHARTER SCHOOLS DEVELOPMENT CORPORATION, founded in 1997, is a mid-sized nonprofit in the Education sector that reported $25.0M in total revenue in fiscal year 2023. Revenue surged 99% from the prior year, signaling strong growth momentum. The organization ran a surplus of $16.1M, a strong 65% operating margin.

Mission

CSDC IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) ESTABLISHED TO ASSIST PUBLIC CHARTER SCHOOLS IN THE ACQUISITION AND FINANCING OF EDUCATIONAL FACILITIES AND RELATED CAPITAL IMPROVEMENTS.

Program Service Accomplishments

Program 1

Expenses: $5,669,865 Revenue: $5,549,934

PROVIDING LOANS, CREDIT ENHANCEMENTS, FINANCING GUARANTEES, FACILITY DEVELOPMENT AND MANAGEMENT SUPPORT TO CHARTER SCHOOLS.

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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 $18,641,747

Program Service Revenue $5,549,934

Investment Income $806,664

Other Revenue $61

TOTAL REVENUE $24,998,406

Expense Breakdown

Grants Paid $50,000

Salaries & Benefits $3,920,050

Fundraising Expenses $0

Program Expenses $5,669,865

Other Expenses $4,899,100

TOTAL EXPENSES $8,869,150

Year-over-Year Comparison

	2023	2022	Change
Revenue	$24,998,406	$12,551,339	+1.0%
Expenses	$8,869,150	$7,899,598	+0.1%
Net Income	$16,129,256	$4,651,741	+2.5%

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

Volunteers

N/A

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

$2,145,221

Total Directors

$101,525

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL CURRAN	CHAIR	2.00	Officer Director	$17,525	$0	$17,525
EMBER REICHGOTT JUNGE	VICE CHAIR	2.00	Officer Director	$14,150	$0	$14,150
JIM GOENNER	DIRECTOR & TREASURER	2.00	Officer Director	$7,900	$0	$7,900
LANETTE DAILEY-REESE	DIRECTOR & SECRETARY	2.00	Officer Director	$15,375	$0	$15,375
JAY HROMATKA	DIRECTOR	2.00	Director	$11,500	$0	$11,500
LEO VALDEZ	DIRECTOR	2.00	Director	$12,650	$0	$12,650
CHRISTINA RYAN DIGIULIAN	DIRECTOR	2.00	Director	$9,775	$0	$9,775
TOM NIDA	DIRECTOR	2.00	Director	$12,650	$0	$12,650
LAURA FIEMANN	CHIEF DEVELOPMENT OFFICER	40.00	Officer	$337,566	$57,498	$395,064
ANNETTE HIGH	VP OF ACCOUNTING (OUTGOING)	40.00	Officer	$177,689	$39,026	$216,715
MICHELLE PROSPERI	CHIEF OPERATING OFFICER	40.00	Officer	$362,166	$55,605	$417,771
REBECCA SALVO	SENIOR VICE PRESIDENT	40.00	Officer	$230,284	$30,540	$260,824
MARK ZEIZEL	VICE PRESIDENT	40.00	Officer	$218,666	$42,510	$261,176
ALAN WASHINGTON	PRESIDENT/CEO	40.00	Officer	$454,213	$28,802	$483,015
GLENN KLEIN	VP OF ACCOUNTING (INCOMING)	40.00	Officer	$51,583	$4,123	$55,706
SHANTA BACON	ACCOUNTING MANAGER	40.00	Highest	$125,600	$10,048	$135,648
TIMOTHY BEHRENS	FACILITIES MANAGER	40.00	Highest	$106,617	$30,624	$137,241
MICHELE CERWIN	CHIEF OF STAFF	40.00	Highest	$295,167	$37,878	$333,045
BRITTANY KOZLEWSKI	BUSINESS ANALYST	40.00	Highest	$114,183	$17,923	$132,106
TYLER PLATT	PROJECT ACCOUNTING MANAGER	40.00	Highest	$104,300	$33,268	$137,568

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
2024	No data	No data	No data	No data
2023	$24,998,406	$8,869,150	$153,838,150	$16,129,256
2022	$12,551,339	$7,899,598	$136,626,734	$4,651,741
2021	$25,530,553	$8,856,727	$137,072,204	$16,673,826
2020	$8,454,000	$7,619,221	$122,327,428	$834,779
2019	$20,297,119	$8,084,876	$111,794,966	$12,212,243
2018	$11,420,751	$6,811,079	$93,242,167	$4,609,672

CHARTER SCHOOLS DEVELOPMENT CORPORATION