FOLK ARTS CULTURAL TREASURES CHARTER SCHOOL

EIN: 522457806 501(c)(3) Education

PHILADELPHIA, PA

Total Revenue
$11,117,078
Total Expenses
$8,593,443
Total Assets
$10,378,367
Net Assets
$2,659,050
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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
PA
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.

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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 $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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Governance

Voting Members
11
Independent Members
11
Employees
89
Volunteers
50

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
7
$505,586
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
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
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