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        <BOY>0</BOY>
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        <EOY>279886</EOY>
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      <UnsecuredNotesLoansPayable>
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      </UnsecuredNotesLoansPayable>
      <OtherLiabilities>
        <BOY>108418</BOY>
        <EOY>0</EOY>
      </OtherLiabilities>
      <TotalLiabilities>
        <BOY>738666</BOY>
        <EOY>1015315</EOY>
      </TotalLiabilities>
      <FollowSFAS117>X</FollowSFAS117>
      <UnrestrictedNetAssets>
        <BOY>3100010</BOY>
        <EOY>3339483</EOY>
      </UnrestrictedNetAssets>
      <TotalNetAssetsFundBalances>
        <BOY>3100010</BOY>
        <EOY>3339483</EOY>
      </TotalNetAssetsFundBalances>
      <TotalLiabNetAssetsFundBalances>
        <BOY>3838676</BOY>
        <EOY>4354798</EOY>
      </TotalLiabNetAssetsFundBalances>
      <MethodOfAccountingAccrual>X</MethodOfAccountingAccrual>
      <AccountantCompileOrReview>0</AccountantCompileOrReview>
      <FSAudited>1</FSAudited>
      <AuditCommittee>1</AuditCommittee>
      <FinancialStatementSeparate>X</FinancialStatementSeparate>
      <FederalGrantAuditRequired>1</FederalGrantAuditRequired>
      <FederalGrantAuditPerformed>1</FederalGrantAuditPerformed>
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        <Depreciation>26221</Depreciation>
        <BookValue>328269</BookValue>
      </LeaseholdImprovements>
      <Equipment>
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        <Depreciation>423166</Depreciation>
        <BookValue>216172</BookValue>
      </Equipment>
      <TotalOfBookValueLandBuildings>544441</TotalOfBookValueLandBuildings>
      <TotalRevenue>9559904</TotalRevenue>
      <TotalExpenses>9320431</TotalExpenses>
      <ExcessOrDeficitForYear>239473</ExcessOrDeficitForYear>
      <TotalAdjustments>0</TotalAdjustments>
      <ExcessOrDeficitPerFS>239473</ExcessOrDeficitPerFS>
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      <TotalRevenuePerForm990>9559904</TotalRevenuePerForm990>
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      <TotalExpensesPerForm990>9320431</TotalExpensesPerForm990>
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      <PolicyStatementInBrochuresEtc>1</PolicyStatementInBrochuresEtc>
      <PolicyPublViaBroadcastMedia>1</PolicyPublViaBroadcastMedia>
      <PubViaBroadcastMediaExpln>CHARTER SCHOOL LAW PROHIBITS DISCRIMINATION.</PubViaBroadcastMediaExpln>
      <MaintRacialCompositionRecords>1</MaintRacialCompositionRecords>
      <MaintScholarshipsRecords>1</MaintScholarshipsRecords>
      <MaintCopiesOfBrochuresEtc>1</MaintCopiesOfBrochuresEtc>
      <MaintCopiesOfAllSolicitations>1</MaintCopiesOfAllSolicitations>
      <DiscriminateRaceStudentsRights>0</DiscriminateRaceStudentsRights>
      <DiscriminateRaceAdmissPolicies>0</DiscriminateRaceAdmissPolicies>
      <DiscriminateRaceEmplmnFaculty>0</DiscriminateRaceEmplmnFaculty>
      <DiscriminateRaceScholarships>0</DiscriminateRaceScholarships>
      <DiscriminateRaceEducPolicies>0</DiscriminateRaceEducPolicies>
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      <DiscriminateRaceAthleticProg>0</DiscriminateRaceAthleticProg>
      <DiscriminateRaceOtherActy>0</DiscriminateRaceOtherActy>
      <GovernmentFinancialAidReceived>1</GovernmentFinancialAidReceived>
      <GovernmentFinancialAidRevoked>0</GovernmentFinancialAidRevoked>
      <GovtFinancialAidExplanation>THE SCHOOL RECEIVES FEDERAL AWARDS, STATE EXPENSE REIMBURSEMENTS, AND PER PUPIL FUNDING FROM THE SCHOOL DISTRICT OF PHILADELPHIA.</GovtFinancialAidExplanation>
      <ComplianceWithRevProc7550>1</ComplianceWithRevProc7550>
    </IRS990ScheduleE>
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      <SeverancePayment>0</SeverancePayment>
      <SupplementalNonqualRetirePlan>0</SupplementalNonqualRetirePlan>
      <EquityBasedCompArrangement>0</EquityBasedCompArrangement>
      <CompBasedOnRevenueOfFilingOrg>0</CompBasedOnRevenueOfFilingOrg>
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      <CompBasedNetEarningsFilingOrg>0</CompBasedNetEarningsFilingOrg>
      <CompBasedNetEarningsRelateOrgs>0</CompBasedNetEarningsRelateOrgs>
      <AnyNonFixedPayments>0</AnyNonFixedPayments>
      <InitialContractException>0</InitialContractException>
      <Form990ScheduleJPartII>
        <NameBusiness>
          <BusinessNameLine1>STACY L CRUISE</BusinessNameLine1>
        </NameBusiness>
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        <BonusFilingOrg>0</BonusFilingOrg>
        <BonusRelatedOrgs>0</BonusRelatedOrgs>
        <OtherCompensationFilingOrg>0</OtherCompensationFilingOrg>
        <OtherCompensationRelatedOrgs>0</OtherCompensationRelatedOrgs>
        <DeferredCompFilingOrg>8061</DeferredCompFilingOrg>
        <DeferredCompRelatedOrgs>0</DeferredCompRelatedOrgs>
        <NontaxableBenefitsFilingOrg>13000</NontaxableBenefitsFilingOrg>
        <NontaxableBenefitsRelatedOrgs>0</NontaxableBenefitsRelatedOrgs>
        <TotalCompensationFilingOrg>189709</TotalCompensationFilingOrg>
        <TotalCompensationRelatedOrgs>0</TotalCompensationRelatedOrgs>
        <CompReportPrior990FilingOrg>161664</CompReportPrior990FilingOrg>
        <CompReportPrior990RelatedOrgs>0</CompReportPrior990RelatedOrgs>
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        <NameOfInterestedPerson>
          <NameBusiness>
            <BusinessNameLine1>SANTILLI &amp; THOMSON LLC</BusinessNameLine1>
          </NameBusiness>
        </NameOfInterestedPerson>
        <Relationship>FORMER BOARD MEMBER</Relationship>
        <AmountOfTransaction>87500</AmountOfTransaction>
        <DescriptionOfTransaction>GERALD SANTILLI IS A FORMER BOARD MEMBER OF THE ORGANIZATION AND IS AN OWNER OF SANTILLI &amp; THOMSON, LLC, WHICH IS CONTRACTED AS THE MANAGEMENT COMPANY FOR THE ORGANIZATION.</DescriptionOfTransaction>
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      <Form990ScheduleLPartIV>
        <NameOfInterestedPerson>
          <NamePerson>MARY CATHERINE SANTILLI</NamePerson>
        </NameOfInterestedPerson>
        <Relationship>DAUGHTER OF GERALD SANTILLI, A FORMER BOARD MEMBER OF THE ORGANIZATION.</Relationship>
        <AmountOfTransaction>61680</AmountOfTransaction>
        <DescriptionOfTransaction>MARY CATHERINE SANTILLI IS THE ORGANIZATION'S STUDENT ACTIVITIES COORDINATOR. SHE ALSO PARTICIPATES IN THE ORGANIZATION'S SUMMER AND MORNING CARE PROGRAMS.</DescriptionOfTransaction>
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      <Form990ScheduleLPartIV>
        <NameOfInterestedPerson>
          <NamePerson>ANITA KAISER</NamePerson>
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        <DescriptionOfTransaction>ANITA KAISER IS ALSO A VOTING BOARD MEMBER OF THE RELATED PARTY, FRANKFORD VALLEY FOUNDATION FOR LITERACY.</DescriptionOfTransaction>
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      <Form990ScheduleLPartIV>
        <NameOfInterestedPerson>
          <NamePerson>BARBARA SAUNDERS</NamePerson>
        </NameOfInterestedPerson>
        <Relationship>VOTING BOARD MEMBER</Relationship>
        <AmountOfTransaction>0</AmountOfTransaction>
        <DescriptionOfTransaction>BARBARA SAUNDERS IS ALSO A VOTING BOARD MEMBER OF THE RELATED PARTY, FRANKFORD VALLEY FOUNDATION FOR LITERACY.</DescriptionOfTransaction>
        <SharingOfRevenues>0</SharingOfRevenues>
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      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Section B, line 11</Identifier>
        <Explanation>CEO OR BOARD PRESIDENT REVIEWS AFTER BUSINESS MANAGER REVIEW.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Section B, line 12c</Identifier>
        <Explanation>CONFLICTS ARE ADDRESSED BY THE BOARD PRIOR TO ELECTING MEMBERS. IF CONFLICTS ARISE SUBSEQUENTLY, THEY ARE REQUIRED TO BE COMMUNICATED AND ADDRESSED ACCORDINGLY.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Section B, line 15</Identifier>
        <Explanation>ALL SALARIES ARE REVIEWED BY THE BOARD.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Section C, line 18</Identifier>
        <Explanation>DOCUMENTS ARE AVAILABLE UPON WRITTEN REQUEST, THROUGH OWN WEBSITE, AND ON WWW.GUIDESTAR.COM AND DUNN &amp; BRADSTREET.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Section C, line 19</Identifier>
        <Explanation>AFTER WRITTEN REQUEST IS MADE, THE LEGAL TEAM REVIEWS THE REQUEST AND THE REQUEST IS THEN PROCESSED.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>FORM 990, PART XI, LINE 2C</Identifier>
        <Explanation>FINANCE COMMITTEE</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="RetDoc1043400001">
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        <NameOfDisregardedEntity>
          <BusinessNameLine1>FRANKFORD VALLEY FOUNDATION FOR LITERACY</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
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          <City>PHILADELPHIA</City>
          <State>PA</State>
          <ZIPCode>19124</ZIPCode>
        </AddressUS>
        <EIN>542100509</EIN>
        <PrimaryActivities>SUPPORT ORGANIZATION</PrimaryActivities>
        <LegalDomicileState>PA</LegalDomicileState>
        <ExemptCodeSection>501(c)(3)</ExemptCodeSection>
        <PublicCharityStatus>Line 11a, I</PublicCharityStatus>
      </Form990ScheduleRPartII>
      <ReceiptOfIntAnnRentsRoyalties>0</ReceiptOfIntAnnRentsRoyalties>
      <GiftGrantOrCapContrToOtherOrg>0</GiftGrantOrCapContrToOtherOrg>
      <GiftGrantOrCapContrFrOtherOrg>0</GiftGrantOrCapContrFrOtherOrg>
      <LoansOrGuaranteesToOtherOrg>1</LoansOrGuaranteesToOtherOrg>
      <LoansOrGuaranteesFromOtherOrg>1</LoansOrGuaranteesFromOtherOrg>
      <SaleOfAssetsToOtherOrg>0</SaleOfAssetsToOtherOrg>
      <PurchaseOfAssetsFromOtherOrg>0</PurchaseOfAssetsFromOtherOrg>
      <ExchangeOfAssets>0</ExchangeOfAssets>
      <RentalOfFacilitiesToOtherOrgs>0</RentalOfFacilitiesToOtherOrgs>
      <RentalOfFacilitiesFrOtherOrgs>1</RentalOfFacilitiesFrOtherOrgs>
      <PerformOfServicesForOtherOrgs>0</PerformOfServicesForOtherOrgs>
      <PerformOfServicesByOtherOrgs>0</PerformOfServicesByOtherOrgs>
      <SharingOfFacilities>0</SharingOfFacilities>
      <SharingOfPaidEmployees>0</SharingOfPaidEmployees>
      <ReimbursementPaidToOtherOrg>0</ReimbursementPaidToOtherOrg>
      <ReimbursementPaidByOtherOrg>0</ReimbursementPaidByOtherOrg>
      <OtherTransferToOtherOrg>0</OtherTransferToOtherOrg>
      <OtherTransferFromOtherOrg>0</OtherTransferFromOtherOrg>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>FRANKFORD VALLEY FOUNDATION FOR LITERACY</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>J</TransactionType>
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      </TransactionsRelatedOrgsTable>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>FRANKFORD VALLEY FOUNDATION FOR LITERACY</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>E</TransactionType>
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      </TransactionsRelatedOrgsTable>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>FRANKFORD VALLEY FOUNDATION FOR LITERACY</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>D</TransactionType>
        <AmountInvolved>16565000</AmountInvolved>
      </TransactionsRelatedOrgsTable>
    </IRS990ScheduleR>
  </ReturnData>
</Return>