Better Business Bureau Report for
Noble Network of Charter Schools

Better Business Bureau Report issued October 2015
Better Business Bureau Report expires October 2017


This BBB Accredited charity meets all 20 Standards for Charity Accountability. Find out more...


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Charity Contact Information

Name: Noble Network of Charter Schools
Address: 1010 N. Noble Street
  Chicago, IL 60642
Phone: 773-278-6895
Web Address: http://www.noblenetwork.org
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Better Business Bureau Comments

Year, State Incorporated: 1999, Illinois
Affiliates: None
Stated Purpose: Noble's mission is to prepare low-income students with the scholarship, discipline, and honor necessary to succeed in college and lead exemplary lives, and serves as a catalyst for education reform in Chicago.

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Evaluation Conclusions

              

Noble Network of Charter Schools meets the 20 Standards for Charity Accountability.
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Programs

              

Noble was founded in 1999 through the vision of two Chicago Public School teachers who sought to create a safe environment focused on preparing students for the rigors of a college education. What began as one campus serving 450 students has grown to 16 campuses serving 11,000 students throughout Chicago. Ninety-eight percent of our student population is minorities and 89 percent qualify for free or reduced lunch. Regardless of the challenges our students face, their hard work and performance has helped Noble maintain its position as the highest performing high schools in Chicago. Our campuses consistently rank in the top ten schools with highest average ACT performance. Noble’s model has successfully closed the academic gap for students who enter high school as much as three to five grade levels behind. Among our graduates, 90 percent enroll in post-secondary education and 84 percent are first generation college students.

For the fiscal year ended June 30, 2014, Noble Network of Charter Schools's program expenses were:

  
Program 101,845,620
Total Program Expenses: $101,845,620
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Governance

              

Chief Executive : Michael Milkie, CEO and Superintendent
Compensation*: 
$209,521

Chair of the Board: Allan Muchin
Chair's Profession / Business Affiliation: Attorney

Board Size: 21

Paid Staff Size: 1100

*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

              

Method(s) Used:

invitations to fund raising events, grant proposals, in person appeals
Fund raising costs were 4% of related contributions. (Related contributions, which totaled $25,483,165, are donations received as a result of fund raising activities.)
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Tax Status

              

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

              

The following information is based on Noble Network of Charter Schools's audited financial statements for the fiscal year ended June 30, 2014.

Source of Funds  
CPS 101,176,916
contributions and grants 25,483,165
food program 4,338,691
school fees 2,886,178
e-rate discount funding 1,233,637
Right Angle 878,828
registration and tuition 614,674
uniform fees 515,264
other 399,984
instructional program 389,955
interest and dividends 327,804
summer school fees 238,519
night school fees 200,870
gain on investments 200,031
school fundraising 46,451
Total Income $138,930,967


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Uses of Funds as a % of Total Expenses

Programs: 90%  Fund Raising: 1%  Administrative: 9% 

Total income $138,930,967
Program expenses $101,845,620
Fund raising expenses 904,139
Administrative expenses 10,076,015
Total expenses $112,825,774
Income in Excess of Expenses 26,105,193
Beginning net assets 50,593,450
Ending net assets 76,698,643
Total liabilities 77,580,392
Total assets $154,279,035


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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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