Nonprofit · EIN 88-1885287
ADVANCED SCHOOLS
Tax-exempt · FLORHAM PARK, NJ 07932
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $975,393 | $917,388 | $58,005 | $102,013 | $114,430 | -$12,417 |
| December 31, 2023 | 990 | $930,839 | $831,881 | $98,958 | $134,294 | $204,715 | -$70,421 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $975,393
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $29,905
- Accounting fees
- $10,676
- Program services (functional)
- $917,388
Balance sheet and other
- Total assets, start of year
- $134,294
- Total assets, end of year
- $102,013
- Total liabilities, end of year
- $114,430
- Net assets, end of year
- -$12,417
- Gross unrelated business income
- $975,393
- Gross receipts
- $975,393
- Employees
- 0
- Volunteers
- 0
- Year formed
- 2023
- State of legal domicile
- NJ
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| TURGAY KARAGOZ | CHAIRMAN OF THE BOARD Trustee or director, Officer | 7.5 | $0 |
| SERDAR CHARYYEV | SECRETARY Trustee or director, Officer | 7.5 | $0 |
| NANCY ROACHE | TREASURER Trustee or director, Officer | 7.5 | $0 |
990 for the year ended December 31, 2023: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| TURGAY KARAGOZ | CHAIRMAN OF THE BOARD Trustee or director, Officer | 7.5 | $0 |
| SERDAR CHARYYEV | SECRETARY Trustee or director, Officer | 7.5 | $0 |
| NANCY ROACHE | TREASURER Trustee or director, Officer | 7.5 | $0 |
Address and contacts
- Address (IRS master file)
- 2401 SUN VALLEY WAY, FLORHAM PARK, NJ 07932-3058
- Principal officer (990 for 2024)
- TURGAY KARAGOZ, 2401 SUN VALLEY WAY, FLORHAM PARK, NJ 07932
- Signed the 990
- TURGAY KARAGOZ, PRESIDENT
- Phone
- (908) 666-2087
- Return prepared by
- PORZIO BROMBERG & NEWMAN PC
Mission
ADVANCED SCHOOLS, INC. WILL BE SPECIFICALLY GEARED TOWARDS SUPPORTING MIDDLESEX COUNTY STEM CHARTER SCHOOL AND OTHER UNDERSERVED CHARTER SCHOOLS, SUPPLYING AN OUTSOURCED ADMINISTRATION TEAM WITH SPECIALIZED KNOWLEDGE AND SKILLS TO IMPLEMENT CURRICULUM AND STRATEGIES ALIGNED WITH EACH CHARTER SCHOOL CLIENT'S MISSION AND TO OPERATE THE SCHOOLS TO SUBSTANTIALLY IMPROVE STUDENT ACADEMIC OUTCOMES. ANY PROCEEDS GENERATED BY ADVANCED SCHOOLS, INC. WILL BE REDISTRIBUTED IN A VARIETY OF WAYS, INCLUDING WITHOUT LIMITATION, AWARDING INDIVIDUAL SCHOLARSHIPS, SPONSORING EXTRACURRICULAR ACTIVITIES AND FUNDING OF STUDENT-RUN CLUBS AND FIELD TRIPS. IT IS ESTIMATED THAT THE REMAINING 20 PERCENT OF ADVANCED SCHOOLS, LNC.'S TIME WILL BE DEVOTED TO THESE AUXILIARY ACTIVITIES. IN THE AFOREMENTIONED WAYS, ADVANCED SCHOOLS, INC. WILL FULFILL ITS MISSION OF IMPROVING EDUCATIONAL OUTCOMES OF THE STUDENTS OF NEW JERSEY.
Program accomplishments
- ADVANCED SCHOOLS, INC. WILL BE SPECIFICALLY GEARED TOWARDS SUPPORTING MIDDLESEX COUNTY STEM CHARTER SCHOOL AND OTHER UNDERSERVED CHARTER SCHOOLS, SUPPLYING AN OUTSOURCED ADMINISTRATION TEAM WITH SPECIALIZED KNOWLEDGE AND SKILLS TO IMPLEMENT CURRICULUM AND STRATEGIES ALIGNED WITH EACH CHARTER SCHOOL CLIENT'S MISSION AND TO OPERATE THE SCHOOLS TO SUBSTANTIALLY IMPROVE STUDENT ACADEMIC OUTCOMES.Expenses $917,388 · revenue $975,393
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 88-1885287
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2024
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B11)
- Assets (IRS master file)
- $102,013
- Income (IRS master file)
- $975,393
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $975,393 | $917,388 | $102,013 | IRS |
| 990 | December 2023 | $930,839 | $831,881 | $134,294 | XML |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 88-1885287).
Questions about ADVANCED SCHOOLS
- What is the EIN of ADVANCED SCHOOLS?
- The employer identification number (EIN) of ADVANCED SCHOOLS is 88-1885287.
- Is ADVANCED SCHOOLS tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2024.
- Are donations to ADVANCED SCHOOLS tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does ADVANCED SCHOOLS file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of ADVANCED SCHOOLS due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did ADVANCED SCHOOLS last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of ADVANCED SCHOOLS?
- The 990 for the year ended December 31, 2024 names TURGAY KARAGOZ.
- Who are the officers and directors of ADVANCED SCHOOLS?
- The 990 for the year ended December 31, 2024 lists 3 people; 0 received compensation from the organization.
- How much revenue does ADVANCED SCHOOLS have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $975,393, expenses of $917,388 and total assets of $102,013 at year end.
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