2025-05-14T12:38:44-05:00 2024-06-30 042571780 AAFCPAS INC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2023-07-01 201018667 THE FRIENDS OF TEAM CHARTER SCHOOLS INC FRIE 9736220905 60 PARK PLACE 802 NEWARK NJ 07102 GABRIELLA DIFILIPPO BOARD SECRETARY 9736220905 2025-05-12 1 1 CAITLIN LIMOGES CPA P01633588 5083669100 2025-05-02 2023 2025-03-06 01:10:19Z GABRIELLA DIFILIPPO 60 PARK PLACE 802 NEWARK NJ 07102 16279365 0 X WWW.KIPPNJ.ORG X 2004 NJ THE FRIENDS OF TEAM CHARTER SCHOOLS, INC. A NEW JERSEY NON-PROFIT ORGANIZATION (FOT) WAS ORGANIZED TO PROVIDE SUPPORT AND SERVICES TO TEAM ACADEMY CHARTER SCHOOL, INC. (TEAM). THE SUPPORT SERVICES INCLUDE PROVIDING (A) FINANCIAL SUPPORT AND (B) SUPPORT WITH FACILITIES DEVELOPMENT, FINANCING, AND OPERATION FOR FACILITIES USED BY TEAM FOR ITS PROGRAMS. 4 4 0 4 0 0 22261 520725 13871614 14279641 697461 1437004 625700 41995 15217036 16279365 0 0 0 0 0 0 0 0 0 11131185 11481344 11131185 11481344 4085851 4798021 232313773 220603171 172897923 156389300 59415850 64213871 FOT WAS ORGANIZED TO PROVIDE SUPPORT AND SERVICES TO TEAM ACADEMY CHARTER SCHOOL, INC.(TEAM). THE SUPPORT SERVICES INCLUDE PROVIDING FINANCIAL SUPPORT AND REAL PROPERTY SERVICES DIRECTLY TO TEAM OR TO ITS STAFF TO FACILITATE THE PURPOSES AND PROGRAMS OF TEAM. 0 0 10721840 14321636 SUPPORT SERVICES INCLUDING PROVIDING FINANCIAL SUPPORT AND REAL PROPERTY SERVICES FOR FACILITIES USED BY TEAM TO OPERATE TEAM'S PROGRAMS. 10721840 1 1 0 0 0 0 0 0 0 0 1 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 4 4 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 0 0 0 NJ X ERICA GROHMAN 9736220905 60 PARK PLACE 802 NEWARK NJ 07102 X SARA SORBELLO PRESIDENT 5.00 0.00 X X 0 0 0 LEA CIAVARRA MEMBER 5.00 0.00 X 0 0 0 JORDAN METZGER MEMBER 5.00 2.00 X 0 0 0 BLAIR RIDDER MEMBER 5.00 0.00 X 0 0 0 GABRIELLA DIFILIPPO SECRETARY (NON-VOTING) 5.00 4.00 X 0 0 0 0 0 0 0 0 0 0 0 520725 520725 INTEREST INCOME 900099 9855270 9855270 RENTAL INCOME 531120 4424371 4424371 14279641 1437004 1437004 MISCELLANEOUS REVENUE 900099 41995 41995 41995 16279365 14321636 0 1437004 206138 206138 53650 53650 132048 132048 1097193 1097193 7413440 7413440 1621225 1621225 53872 53872 SCHOOL SUPPORT 520129 520129 MISCELLANEOUS 383649 69853 313796 11481344 10721840 759504 0 9520919 34075319 16699614 2925622 3177894 202858 66167761 3806290 62449180 62361471 123589016 120145147 9274636 8495268 232313773 220603171 855661 851773 69174138 68629566 44151063 39514924 2750000 55967061 47393037 172897923 156389300 X 59410850 64213871 5000 0 59415850 64213871 232313773 220603171 4798021 0 X X 0 1 X 1 0 X 40104 28935 41653 22261 520725 653678 40104 28935 41653 22261 520725 653678 653678 7983 157 598 697461 1437004 2143203 2796881 63658892 0.23370 0.62330 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2289039 2289039 61068432 3479092 57589340 386205 123973 262232 418393 203225 215168 2005692 2005692 62361471 NOTES RECEIVABLE 18659486 F BONDS RECEIVABLE 101485661 F 120145147 BOND PAYABLE 35803404 OPERATING LEASE OBLIGATIONS 9778332 CONSTRUCTION PAYABLES 902135 DUE TO KINGSTON EDUCATIONAL HOLDINGS 1 903237 DUE TO KIPP TEAM & FAMILY SCHOOLS 5929 47393037 X PART X, LINE 2: FOT ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. FOTA HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS AT JUNE 30, 2024. HOWEVER, THE AGENCY'S INFORMATIONAL AND INCOME TAX RETURNS ARE SUBJECT TO EXAMINATION BY FEDERAL AND STATE JURISDICTIONS. A NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY 222045817 645912FL5 2018-12-27 13156782 TO FINANCE PROPERTIES AND RENOVATIONS IN NEWARK FOR USE AS SCHOOL FACILITY 0 1 0 B THE ESSEX COUNTY IMPROVEMENT AUTHORITY 222023989 29681CBH0 2021-09-21 56714045 TO FINANCE PROPERTIES AND RENOVATIONS IN NEWARK FOR USE AS SCHOOL FACILITY 0 1 0 A 13156782 1212419 261737 11682626 0 0 1 1 B 275000 56714045 3843147 1413428 37993567 13523903 2022 0 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 A 0 0 1 0 0 0 0 0 0 B 0 0 1 0 0 0 0 0 0 A 0 B 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ARE ASKED TO RECUSE THEMSELVES WHENEVER MATTERS THAT MAY PRESENT CONFLICT OF INTEREST ISSUES ARISE. ADDITIONALLY, BOARD MEMBERS ARE REQUIRED TO COMPLETE A RELATED PARTY QUESTIONNAIRE ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION C, LINE 19 THIS INFORMATION IS AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THE PROCESS HAS REMAINED CONSISTENT BETWEEN YEARS. FOTA 129 LITTLETON AVENUE LLC 60 PARK PLACE NEWARK NJ 07102 201018667 FINANCING CHARTER SCHOOL DEVELOPMENT NJ 2497415 32895912 THE FRIENDS OF TEAM CHARTER SCHOOLS INC ASHLAND SCHOOL INC 60 PARK PLACE SUITE 802 NEWARK NJ 07102 274419100 SCHOOL REAL ESTATE NJ 501(C)(3) LINE 12C, III-FI KINGSTON EDUCATIONAL HOLDINGS I INC 0 NCA FACILITY INC 60 PARK PLACE SUITE 802 NEWARK NJ 07102 274419292 SCHOOL REAL ESTATE NJ 501(C)(3) LINE 12B, II KINGSTON EDUCATIONAL HOLDINGS I INC 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 SCHEDULE R, PART II ASHLAND SCHOOL, INC. AND NCA FACILITY, INC. ARE SUPPORTING ORGANIZATIONS OF FOT. AS A RESULT, THEY ARE LISTED AS RELATED TAX-EXEMPT ORGANIZATIONS IN PART II OF SCHEDULE R. ASHLAND SCHOOL, INC. AND NCA FACILITY, INC. DO NOT HAVE 50% BOARD OVERLAP WITH FOT SO THIS IS NOT A "CONTROL" RELATIONSHIP UNDER 512B OF THE IRC.