Charter Development Foundation Inc

Nonprofit profile at a glance

EIN
341938899
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Roswell, GA, USA
Phone
2165591767
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$711,214
Expenses
$1,029,205
Assets
$6,815,150
Liabilities
$4,229,964

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • DAVID DUDAS (PRESIDENT)

Highest reported compensation

  • DAVID DUDAS (PRESIDENT): $12,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organization's primary exempt purpose is providing capital and other support to edge learning, inc., akros middle school, and akrotech high school. Edge learning, inc., akros middle school and akrotech high school are organized to set up and operate charter schools in various northeast Ohio communities. The organization may also provide capital and support to any community school or tax exempt organization which maintains a community school including provision of administrative services, consulting and development assistance, facilities and equipment and grants, loans and other financial assistance.

What it reported doing in 2024

Providing capital and support to edge learning, inc., akros middle school, and akrotech high school.

Operating model

Revenue model
Earned-program. 91% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 44% for direct work, and 56% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 87
  • Accountability: 55
  • Sustainability: 36
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 95.4%; rating input score 95
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 8th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 99.2%; rating input score 99; 48th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 50%; rating input score 50; 11th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -44.7%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 6.62; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.62; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 1.2%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 8.5% per year; rating input score 100; 57th percentile among comparable filings
  • Revenue growth: 1.8% per year; rating input score 100; 23rd percentile among comparable filings
  • Asset growth: 5.4% per year; rating input score 100; 40th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 95.4% of spending went to programs
  • Governance: 1 of 2 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $981K in reported program spending
  • Leadership: top reported pay $12K · 3 people listed
  • Consistency: 21 of 22 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes grants
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 9 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Independent voting board scored 50/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Operating margin scored 3/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.