Icahn Charter School 3
Nonprofit profile at a glance
- EIN
- 262271604
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024
- Location
- Bronx, NY, USA
- Phone
- 7188280034
- Rating
- 79
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Charter Schools
Reported finances
- Revenue
- $7,377,304
- Expenses
- $7,161,244
- Assets
- $13,111,201
- Liabilities
- $1,879,277
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
16 people listed
Executive titles in this filing
- GAIL GOLDEN-ICAHN (CHAIRPERSON/PRESIDENT)
Highest reported compensation
- RICHARD SANTIAGO - DEPUTY (SUPERINTENDENT OF FINANCE/TREASURER): $553,884 total reported compensation
- LAWFORD CUNNINGHAM (SUPERINTENDENT): $529,501 total reported compensation
- YALITZA VASQUEZ (SECRETARY/ASST. SUPERINTENDENT): $380,579 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
See schedule othe mission of icahn charter schools is to cultivate a climate of collaborative excellence among students, staff, families, and the community. Our four pillars of transformative education guide icahn educators as they adopt a holistic approach to teaching and learning that addresses the academic, social, and emotional needs of our students. The student-centered learning experience is defined through individualized learning environments that empower icahn students to take ownership of their education. Our core knowledge curriculum and instructional practices promote learning through innovation and creativity to meet the needs of our diverse learners. Through strategic partnerships among all stakeholders, icahn student graduate equipped with the skills, knowledge, and personal confidence to participate successfully in the most rigorous academic environments and demonstrate a sense of personal responsibility as global citizens.
What it reported doing in 2024
See schedule o
Operating model
- Revenue model
- Earned-program. 90% 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 available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 74
- Transparency & Controls: 74
- Accountability: 100
- Sustainability: 46
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 80.8%; rating input score 81
- Program expense ratio: 86.5%; rating input score 86
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 2 of 6 controls in place; rating input score 33
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- 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; 63rd 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: 2.9%; rating input score 44; 44th percentile among comparable filings
- Total-asset coverage ratio: 1.83; rating input score 59; 59th percentile among comparable filings
- Liabilities to assets ratio: 0.14; rating input score 51; 51st percentile among comparable filings
- Officer compensation ratio: 15.4%; rating input score 18; 18th percentile among comparable filings
Growth
- Program expense growth: 5.7% per year; rating input score 100; 43rd percentile among comparable filings
- Revenue growth: 5.9% per year; rating input score 100; 48th percentile among comparable filings
- Asset growth: 14.7% per year; rating input score 100; 73rd percentile among comparable filings
Details
- Where the money goes: 80.8% of revenue deployed · 86.5% of spending went to programs
- Governance: 7 of 7 board members independent · 8 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $6.2M in reported program spending
- Leadership: top reported pay $554K · 16 people listed · 2 of 6 pay-setting controls reported
- Highest-paid contractors: 1 contractor listed · $168K reported
- Consistency: 32 of 32 current checks pass
- Schedules: 7 filed schedules · includes major donors and executive pay
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 6 filed money-flow records
- Related organizations: 7 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.
- Moderate — Sustainability: Operating margin scored 44/100.
- Review — Sustainability: Total-asset coverage ratio scored 59/100.
- High — Sustainability: Officer compensation ratio scored 18/100.
- Review — Sustainability: Liabilities to assets ratio scored 51/100.