FOLK ARTS CULTURAL TREASURES CHART… - 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

2004

Legal Domicile

Principal Officer

ELLEN SOMEKAWA

Phone

2155692600

Tax Period

2024-07-01 to 2025-06-30

FOLK ARTS CULTURAL TREASURES CHARTER SCHOOL, founded in 2004, is a mid-sized nonprofit in the Education sector that reported $11.1M in total revenue in fiscal year 2024. Revenue decreased 7% compared to the prior year. The organization ran a surplus of $2.5M, a strong 23% operating margin.

Mission

FACTS PROVIDES CHILDREN WITH AN EXEMPLARY EDUCATION THAT UTILIZES TRADITIONAL ARTS AND CULTURES FOUND WITHIN THEIR OWN AND NEIGHBORING COMMUNITIES AS THE CATALYST FOR CRITICAL INQUIRY AND COMMUNITY ENGAGEMENT.

Program Service Accomplishments

Program 1

Expenses: $5,364,015 Revenue: $9,194,058

K-8 PUBLIC EDUCATION. FACTS PROVIDES APPROXIMATELY 500 PHILADELPHIA CHILDREN WITH AN EDUCATION WHICH HAS HIGH ACADEMIC STANDARDS, IT TRULY COMMUNITY BASED, INCORPORATES AND RESPECTS THE LIVES OF...

K-8 PUBLIC EDUCATION. FACTS PROVIDES APPROXIMATELY 500 PHILADELPHIA CHILDREN WITH AN EDUCATION WHICH HAS HIGH ACADEMIC STANDARDS, IT TRULY COMMUNITY BASED, INCORPORATES AND RESPECTS THE LIVES OF STUDENTS AND THEIR FAMILIES, ENGAGES STUDENTS IN UNDERSTANDING THEIR OWN CULTURES AND COMMUNITIES, AND ENGAGES STUDENT IN UNDERSTANDING THEIR ROLE AS ACTIVE PARTICIPANTS IN WORKING FOR A JUST SOCIETY.

Program 2

Expenses: $566,668

ENGLISH FOR SPEAKERS OF OTHER LANGUAGES PROGRAM (ESOL): A CORE IMPETUS BEHIND FACTS FOUNDING WAS TO ADDRESS THE PARTICULAR NEEDS OF IMMIGRANT AND REFUGEE STUDENTS AND THEIR FAMILIES. TWO THIRDS OF...

ENGLISH FOR SPEAKERS OF OTHER LANGUAGES PROGRAM (ESOL): A CORE IMPETUS BEHIND FACTS FOUNDING WAS TO ADDRESS THE PARTICULAR NEEDS OF IMMIGRANT AND REFUGEE STUDENTS AND THEIR FAMILIES. TWO THIRDS OF FACTS STUDENTS SPEAK A LANGUAGE OTHER THAN ENGLISH AT HOME. 30% OF FACTS STUDENTS RECEIVE ESOL SERVICES. OUR NATIONALLY RECOGNIZED ESOL PROGRAM ENGAGES ESOL SPECIALISTS IN COLLABORATION WITH CLASSROOM TEACHERS TO BEST MEET THE NEEDS OF INDIVIDUAL STUDENTS.

Program 3

Expenses: $475,371

FACTS PARTICIPATES IN THE NATIONAL SCHOOL BREAKFAST AND LUNCH COMMUNITY ELIGIBILITY PROVISION PROGRAM DURING THE 2024-2025 SCHOOL YEAR. FACTS OFFERED FREE BREAKFAST AND LUNCH TO ALL STUDENTS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $1,712,920

Program Service Revenue $9,194,058

Investment Income $210,100

Other Revenue $0

TOTAL REVENUE $11,117,078

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,178,127

Fundraising Expenses $9,840

Program Expenses $6,406,054

Other Expenses $3,415,316

TOTAL EXPENSES $8,593,443

Year-over-Year Comparison

	2024	2023	Change
Revenue	$11,117,078	$11,968,457	-0.1%
Expenses	$8,593,443	$8,863,497	0.0%
Net Income	$2,523,635	$3,104,960	-0.2%

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

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

$505,586

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LIM PHENG	PRINCIPAL	40.00	Officer	$118,646	$79,143	$197,789
ELLEN SOMEKAWA	EXECUTIVE DI	40.00	Officer	$113,568	$53,804	$167,372
DAVID BROWN	DIRECTOR OF	40.00	Officer	$104,269	$36,156	$140,425
THIERRY ELIN-SAINTINE	CHAIR	1.00	Officer Director	$0	$0	$0
XU LIN	VICE CHAIR	1.00	Officer Director	$0	$0	$0
NEETA PATEL	TREASURER	1.00	Officer Director	$0	$0	$0
ALLAIRE WOHLGEMUTH	SECRETARY	1.00	Officer Director	$0	$0	$0
POOJA AGARWAL	BOARD MEMBER	1.00	Director	$0	$0	$0
LEANA CABRAL	BOARD MEMBER	1.00	Director	$0	$0	$0
FRANK CHISM	BOARD MEMBER	1.00	Director	$0	$0	$0
JEFFREY KOUNG	BOARD MEMBER	1.00	Director	$0	$0	$0
ALISON LIN	BOARD MEMBER	1.00	Director	$0	$0	$0
NANCY NGUYEN	BOARD MEMBER	1.00	Director	$0	$0	$0
ALAN PHAN	BOARD MEMBER	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	$11,117,078	$8,593,443	$10,378,367	$2,523,635
2024	$11,968,457	$8,863,497	$10,204,113	$3,104,960
2023	$9,621,034	$8,751,213	$8,157,033	$869,821
2022	$9,661,746	$7,971,661	$7,754,091	$1,690,085
2021	$8,715,053	$7,754,147	$5,441,729	$960,906
2020	$8,007,805	$7,458,308	$4,599,774	$549,497
2019	$7,716,730	$7,238,163	$4,530,580	$478,567
2018	$7,099,271	$6,202,852	$4,277,947	$896,419

FOLK ARTS CULTURAL TREASURES CHARTER SCHOOL