2024-10-30T13:44:47-05:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 901 NORTH GLEBE ROAD SUITE 200 ARLINGTON VA 22203 990 2023-01-01 522063496 CHARTER SCHOOLS DEVELOPMENT CORPORATION CHAR 4435611280 7880 MILESTONE PARKWAY 425 HANOVER MD 21076 MICHELLE PROSPERI CHIEF OPERATING OFFICER 4435611280 2024-10-28 1 1 ROBERT WILLIAMS P01345960 5712279500 2024-10-28 2023 2024-10-15 13:58:12Z MICHELLE PROSPERI 7880 MILESTONE PARKWAY 425 HANOVER MD 21076 24998406 0 X WWW.CSDC.ORG X 1997 DC FINANCING AND BUILDING GREAT PUBLIC CHARTER SCHOOLS. 8 8 21 0 0 0 7628008 18641747 4971703 5549934 -48372 806664 0 61 12551339 24998406 116147 50000 0 0 2759448 3920050 0 0 0 5024003 4899100 7899598 8869150 4651741 16129256 136626734 153838150 61874405 64261849 74752329 89576301 CSDC IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) ESTABLISHED TO ASSIST PUBLIC CHARTER SCHOOLS IN THE ACQUISITION AND FINANCING OF EDUCATIONAL FACILITIES AND RELATED CAPITAL IMPROVEMENTS. 0 0 5669865 50000 5549934 PROVIDING LOANS, CREDIT ENHANCEMENTS, FINANCING GUARANTEES, FACILITY DEVELOPMENT AND MANAGEMENT SUPPORT TO CHARTER SCHOOLS. 5669865 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 38 0 1 21 1 0 0 0 0 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MD X GLENN KLEIN 4436238875 7880 MILESTONE PARKWAY SUITE 425 HANOVER MD 21076 MICHAEL CURRAN CHAIR 2.00 4.00 X X 17525 0 0 EMBER REICHGOTT JUNGE VICE CHAIR 2.00 4.00 X X 14150 0 0 JIM GOENNER DIRECTOR & TREASURER 2.00 4.00 X X 7900 0 0 LANETTE DAILEY-REESE DIRECTOR & SECRETARY 2.00 2.00 X X 15375 0 0 JAY HROMATKA DIRECTOR 2.00 4.00 X 11500 0 0 LEO VALDEZ DIRECTOR 2.00 2.00 X 12650 0 0 CHRISTINA RYAN DIGIULIAN DIRECTOR 2.00 2.00 X 9775 0 0 TOM NIDA DIRECTOR 2.00 2.00 X 12650 0 0 LAURA FIEMANN CHIEF DEVELOPMENT OFFICER 40.00 2.00 X 337566 0 57498 ANNETTE HIGH VP OF ACCOUNTING (OUTGOING) 40.00 2.00 X 177689 0 39026 MICHELLE PROSPERI CHIEF OPERATING OFFICER 40.00 2.00 X 362166 0 55605 REBECCA SALVO SENIOR VICE PRESIDENT 40.00 2.00 X 230284 0 30540 MARK ZEIZEL VICE PRESIDENT 40.00 2.00 X 218666 0 42510 ALAN WASHINGTON PRESIDENT/CEO 40.00 2.00 X 454213 0 28802 GLENN KLEIN VP OF ACCOUNTING (INCOMING) 40.00 2.00 X 51583 0 4123 SHANTA BACON ACCOUNTING MANAGER 40.00 0.00 X 125600 0 10048 TIMOTHY BEHRENS FACILITIES MANAGER 40.00 2.00 X 106617 0 30624 MICHELE CERWIN CHIEF OF STAFF 40.00 20.00 X 295167 0 37878 BRITTANY KOZLEWSKI BUSINESS ANALYST 40.00 2.00 X 114183 0 17923 TYLER PLATT PROJECT ACCOUNTING MANAGER 40.00 2.00 X 104300 0 33268 2679559 0 387845 11 0 1 0 HOLLAND & HART PO BOX 8749 DENVER CO 802018749 LEGAL SERVICES 206646 TENSQUARE 1101 17TH STREET NW 200 WASHINGTON DC 20036 CONSULTING 173438 2 3889050 14722708 29989 18641747 CAPITAL LEASE INTEREST 900099 3730056 3730056 RENTAL INCOME 900099 1228611 1228611 DEVELOPER'S FEES 900099 501250 501250 LOAN ORIGINATION FEE INCOME 900099 80017 80017 CREDIT ENHANCEMENT FEES 900099 10000 10000 5549934 800755 800755 5909 0 5909 5909 5909 OTHER INCOME 900099 61 61 61 24998406 5549934 0 806725 50000 50000 2304822 1323234 981588 1156782 164317 992465 64457 7386 57071 228890 78098 150792 165099 71310 93789 114297 74293 40004 76391 49654 26737 599272 389527 209745 79466 39733 39733 81105 20019 61086 90771 31770 59001 663674 300398 363276 265419 183966 81453 2362502 2362502 270748 268041 2707 82831 62123 20708 LOAN LOSSES 144000 144000 LOANS AND FEES 35564 35564 REPRESENTATION FEES 32648 13930 18718 412 412 8869150 5669865 3199285 0 67892069 62626829 9349260 28841071 458100 445015 49424774 52076498 37791 52041 8610589 2901373 5890243 5709216 9919 6943 3564578 4080537 136626734 153838150 496777 753251 183011 181196 58247517 61307915 2057986 1235483 889114 784004 61874405 64261849 X 14693388 18222473 60058941 71353828 74752329 89576301 136626734 153838150 16129256 -1305284 0 X 0 1 X 1 1 1 X 14454841 3295000 20197434 7628008 18641747 64217030 5130493 4757163 5135418 4971703 5549934 25544711 19585334 8052163 25332852 12599711 24191681 89761741 1602341 870000 1552854 5900000 3889050 13814245 1662534 2396468 353927 1028194 460526 5901649 3264875 3266468 1906781 6928194 4349576 19715894 70045847 415453 401837 197701 112952 800755 1928698 415453 401837 197701 112952 800755 1928698 61 61 20000787 8454000 25530553 12712663 24992497 91690500 0.76390 0.74070 0.02100 0.01670 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 907000 907000 7440898 2670870 4770028 257858 225670 32188 4833 4833 0 5709216 SECURITY DEPOSITS HELD 152982 OPERATING LEASE RIGHT OF USE LIABILITY 631022 784004 X PART X, LINE 2: THE CORPORATION HAS DETERMINED THAT IT DOES NOT CURRENTLY HAVE ANY TAX POSITIONS THAT IT CONSIDERS TO BE UNCERTAIN. IF THIS POSITION CHANGES, THE CORPORATION WILL ASSESS THE IMPACT OF ANY SUCH MATTERS ON ITS FINANCIAL POSITION AND RESULTS OF OPERATIONS. 1 ARIZONA AUTISM CHARTER SCHOOL 4125 N 14TH ST PHOENIX AZ 85014 461292127 501(C)(3) 10000 0 N/A N/A GALA SPONSORSHIP NATIONAL ALLIANCE FOR PUBLIC CHARTER SCH 1101 15TH STREET NW STE 1010 WASHINGTON DC 20005 300274709 501(C)(3) 20000 0 N/A N/A SPONSORSHIP 2 0 PART I, LINE 2: ON OCCASION, CHARTER SCHOOL DEVELOPMENT CORPORATION MAY PROVIDE GRANTS TO IMPROVE THE SAFETY AND SECURITY OF SCHOOL BUILDINGS. INTERESTED SCHOOLS SUBMITTED A SHORT APPLICATION STATING WHAT PROPOSED SECURITY IMPROVEMENT OR UPGRADE WOULD BE FUNDED WITH THE GRANT, AND IN MOST CASES, ALSO PROVIDED A QUOTE OR SCOPE IF AVAILABLE. GIVEN THE SMALL SIZE OF THE GRANTS, CSDC MADE THESE AWARDS BASED ON THE INITIAL APPLICATION AND SCOPE AND DID NOT REQUIRE ANY FOLLOW UP DOCUMENTATION AS TO HOW THE FUNDS WERE ACTUALLY SPENT. WE CONSIDERED THESE UNRESTRICTED GRANTS TO OUR SCHOOL CLIENTS TO UTILIZE HOW THEY SAW FIT FOR THEIR SECURITY NEEDS. X X 0 0 0 0 0 0 0 0 0 ALAN WASHINGTON PRESIDENT/CEO 435000 0 19213 0 0 0 18850 0 9952 0 483015 0 0 0 MICHELLE PROSPERI CHIEF OPERATING OFFICER 287083 0 75083 0 0 0 18500 0 37105 0 417771 0 0 0 LAURA FIEMANN CHIEF DEVELOPMENT OFFICER 267583 0 69983 0 0 0 26400 0 31098 0 395064 0 0 0 MICHELE CERWIN CHIEF OF STAFF 230000 0 65167 0 0 0 0 0 37878 0 333045 0 0 0 MARK ZEIZEL VICE PRESIDENT 173333 0 45333 0 0 0 12267 0 30243 0 261176 0 0 0 REBECCA SALVO SENIOR VICE PRESIDENT 182542 0 47742 0 0 0 18423 0 12117 0 260824 0 0 0 ANNETTE HIGH VP OF ACCOUNTING (OUTGOING) 132356 0 45333 0 0 0 10588 0 28438 0 216715 0 0 0 FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE SHALL HAVE AND MAY EXERCISE, TO THE EXTENT PROVIDED IN THE RESOLUTION CREATING IT, ALL OF THE RIGHTS, POWERS AND AUTHORITY OF THE BOARD OF DIRECTORS. THE BOARD COMMITTEE SHALL NOT BE PERMITTED TO: AUTHORIZE DISTRIBUTIONS; FILL VACANCIES ON THE BOARD OF DIRECTORS OR ON ANY BOARD COMMITTEE; OR ADOPT, AMEND OR REPEAL BYLAWS. FORM 990, PART VI, SECTION B, LINE 11B THE PRESIDENT/CEO AND THE CHIEF OPERATING OFFICER BOTH REVIEW AND APPROVE THE FORM 990 BEFORE IT IS FILED. A COPY OF THE FILED FORM 990 IS PROVIDED TO ALL BOARD MEMBERS. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S CONFLICT OF INTEREST POLICY FOR STAFF, OFFICERS AND BOARD OF DIRECTORS ARE SET FORTH IN ITS BYLAWS AND EMPLOYEE HANDBOOK. STAFF, OFFICERS AND BOARD OF DIRECTORS ARE REQUIRED TO REPORT ANY CONFLICT OF INTEREST. THE CHIEF OPERATING OFFICER MAINTAINS A FILE OF ALL SUCH WRITTEN REPORTS. NO DIRECTOR OR OFFICER SHALL PARTICIPATE IN OR BE PRESENT AT ANY VOTE OF THE BOARD OR ANY COMMITTEE ON ANY QUESTION, ISSUE, DECISION OR TRANSACTION IN WHICH THE DIRECTOR, OR ANY BUSINESS ASSOCIATE OR FAMILY MEMBER OF SUCH DIRECTOR OR OFFICER, HAS OR APPEARS TO HAVE A CONFLICT OF INTEREST. A DIRECTOR OR OFFICER, AFTER FULLY DISCLOSING TO THE BOARD OR THE COMMITTEE ALL FACTS MATERIAL TO HIS OR HER INTERESTS AND UPON UNANIMOUS CONSENT OF THE BOARD OR COMMITTEE, MAY PARTICIPATE IN ANY DISCUSSION OR DELIBERATION OF ANY QUESTION, ISSUE, DECISION OR TRANSACTION IN WHICH THE DIRECTOR OR OFFICER, OR ANY BUSINESS ASSOCIATE OR FAMILY MEMBER OF SUCH DIRECTOR OR OFFICER, HAS OR APPEARS TO HAVE A CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR DETERMINING THE COMPENSATION FOR THE PRESIDENT AND CEO, OTHER MANAGEMENT PERSONNEL AND KEY EMPLOYEES INCLUDES AN ANALYSIS OF COMPARABLE DATA FOR SIMILAR SIZED NON-PROFIT ORGANIZATIONS WORKING IN THE SAME GENERAL FIELD OBTAINED VIA A SALARY SURVEY OF WASHINGTON, D.C. BASED NONPROFITS AND A PUBLIC RECORDS SEARCH OF FORM 990S. COMPENSATION OF EXECUTIVE STAFF IS DETERMINED BASED ON THIS COMPARABLE DATA, PREVIOUS LEVEL OF APPLICABLE WORK EXPERIENCE AND ANNUAL PERFORMANCE REVIEWS. ONLY THE PRESIDENT AND CEO'S COMPENSATION IS SUBJECT TO BOARD APPROVAL. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. CROSSROADS MASTER TENANT LLC 7880 MILESTONE PARKWAY SUITE 425 HANOVER MD 21076 300958764 REAL ESTATE AND LOAN FINANCING DE 60765 0 CHARTER SCHOOLS DEVELOPMENT CORPORATION MCCURDY MASTER TENANT LLC 7880 MILESTONE PARKWAY SUITE 425 HANOVER MD 21076 384006935 REAL ESTATE AND LOAN FINANCING DE 613743 0 CHARTER SCHOOLS DEVELOPMENT CORPORATION CSDC FACILITIES CORPORATION 7880 MILESTONE PARKWAY SUITE 425 HANOVER MD 21076 300142162 FINANCING, DEVELOPMENT AND MANAGEMENT OF CHARTER SCHOOL FACILITIES DC 501(C)(3) LINE 12B, II CHARTER SCHOOLS DEVELOPMENT CORPORATION 1 CSDC PROPERTY CORPORATION 7880 MILESTONE PARKWAY SUITE 425 HANOVER MD 21076 272503955 FOSTER THE COMMON GOOD AND GENERAL WELFARE OF THE AMERICAN PUBLIC AZ 501(C)(4) CHARTER SCHOOLS DEVELOPMENT CORPORATION 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 CSDC PROPERTY CORP C 3889050 CASH