Folk Arts Cultural Treasures Charter School

Nonprofit profile at a glance

EIN
522457806
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Philadelphia, PA, USA
Phone
2155692600
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Charter Schools

Official website

Reported finances

Revenue
$11,117,078
Expenses
$8,593,443
Assets
$10,378,367
Liabilities
$7,719,317

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

Leadership & pay

14 people listed

Highest reported compensation

  • LIM PHENG (PRINCIPAL): $197,789 total reported compensation
  • ELLEN SOMEKAWA (EXECUTIVE DI): $167,372 total reported compensation
  • DAVID BROWN (DIRECTOR OF): $140,425 total reported compensation

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

Overview

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.

What it reported doing in 2024

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.

Operating model

Revenue model
Earned-program. 83% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of total spending goes to programs and most voting board members are independent. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 65
  • Accountability: 100
  • Sustainability: 59
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 56.5%; rating input score 57
  • Program expense ratio: 74.5%; rating input score 75
  • Fundraising efficiency: $174.08 raised per $1 spent on fundraising; rating input score 89; 89th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 22.7%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 1.21; rating input score 43; 43rd percentile among comparable filings
  • Liabilities to assets ratio: 0.74; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 5.9%; rating input score 44; 44th percentile among comparable filings

Growth

  • Program expense growth: 3.9% per year; rating input score 100; 33rd percentile among comparable filings
  • Revenue growth: 5.5% per year; rating input score 100; 48th percentile among comparable filings
  • Asset growth: 12.4% per year; rating input score 100; 74th percentile among comparable filings

Details

  • Where the money goes: 56.5% of revenue deployed · 74.5% of spending went to programs
  • Governance: 11 of 11 board members independent · 8 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $6.4M in reported program spending
  • Leadership: top reported pay $198K · 14 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $365K reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Financial Efficiency: Mission deployment rate scored 57/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 43/100.
  • High — Sustainability: Liabilities to assets ratio scored 16/100.
  • Moderate — Sustainability: Officer compensation ratio scored 44/100.