Friends of Hoboken Charter School Inc

Nonprofit profile at a glance

EIN
223519265
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Hoboken, NJ, USA
Phone
2019630222
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Private Grantmaking Foundations

Official website

Reported finances

Revenue
$661,573
Expenses
$88,569
Assets
$12,137,129
Liabilities
$8,413,504

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

Leadership & pay

7 people listed

Executive titles in this filing

  • RAINA-ROSE FERNANDES (PRESIDENT/TRUSTEE)
  • ALYSSA VAGTS (VICE PRESIDENT)
  • MORAN FRUHAUF (VICE PRESIDENT)

People named in this filing

  • RAINA-ROSE FERNANDES (PRESIDENT/TRUSTEE)
  • PATTY FERNANDEZ (TRUSTEE)
  • ROB JOHANSEN (TREASURER/TRUSTEE)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

To foster a quality education, foster a nurturing & productive environment for students, teachers, administration & parents, host fundraisers for the school capital fund, operations & pa expenditure & cultivate community relations for the benefit of the hoboken charter school, inc.

What it reported doing in 2024

Engage in fundraising activities to benefit the hoboken charter school, to fund shortfall in public funding by the local sending school districts, to provide funds for renovations of the school facilities and the purchase of an additional building to serve as the high school

Operating model

Revenue model
Other-operating. 91% of the money available for current operations came from other operating revenue.
Distribution model
Grant intermediary. The nonprofit sent 77% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 30
  • Transparency & Controls: 94
  • Accountability: 94
  • Sustainability: 86
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 9.8%; rating input score 10
  • Program expense ratio: 73.4%; rating input score 73
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 86.6%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 137.04; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0.69; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: -12.3% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: 8.5% per year; rating input score 100; 61st percentile among comparable filings
  • Asset growth: 10.6% per year; rating input score 100; 60th percentile among comparable filings

Details

  • Where the money goes: 9.8% of revenue deployed · 73.4% of spending went to programs
  • Governance: 9 of 9 board members independent · 6 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $65K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 8 filed schedules · includes major donors and grants
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 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.

  • High — Financial Efficiency: Mission deployment rate scored 10/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.