Ilearn Facility Development Inc

Nonprofit profile at a glance

EIN
880744649
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
Fair Lawn, NJ, USA
Phone
2017739140
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$5,859,539
Expenses
$5,056,387
Assets
$36,222,675
Liabilities
$33,596,499

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

Leadership & pay

7 people listed

Executive titles in this filing

  • NIHAT GUVERCIN (CEO)
  • JOSE MARTINEZ (PRESIDENT)

Highest reported compensation

  • NIHAT GUVERCIN (CEO): $320,593 total reported compensation
  • AARON KUL (COO): $221,742 total reported compensation
  • MUSTAFA COBAN (CFO): $216,637 total reported compensation

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

Overview

Mission

Ilearn facility development, inc. Is a non-profit organization organized exclusively for the benefit of, to perform the functions of, or to carry out the purpose of ilearn schools, inc.

What it reported doing in 2024

The organization was established exclusively to support and advance the mission and vision of ilearn schools, inc. Its primary purpose is to acquire, develop, renovate, and manage educational facilities used by ilearn schools, inc. And the charter schools it manages. In fiscal year 2023, the organization purchased a real estate property to provide a facility for lease to one of ilearn schools, inc.'s charter management clients. Renovations to the property were completed in fiscal year 2025. The organization also provided general funding support to ilearn schools, inc. During the fiscal year 2025.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 61% for direct work, and 39% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 75
  • Accountability: 100
  • Sustainability: 68
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 85.7%; rating input score 86
  • Program expense ratio: 99%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd 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: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: 13.7%; rating input score 69; 69th percentile among comparable filings
  • Total-asset coverage ratio: 7.16; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.93; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 1.7%; rating input score 77; 77th percentile among comparable filings

Growth

  • Program expense growth: 96.3% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: 76.1% per year; rating input score 100; 99th percentile among comparable filings
  • Asset growth: 4.8% per year; rating input score 100; 33rd percentile among comparable filings

Details

  • Where the money goes: 85.7% of revenue deployed · 99% of spending went to programs
  • Governance: 4 of 4 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $5M in reported program spending
  • Leadership: top reported pay $321K · 7 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 20 of 20 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 3 filing years from 2022 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 — Sustainability: Liabilities to assets ratio scored 7/100.