The shooting happened Wednesday shortly before 3:00 p.m. outside the Pennsylvania Avenue School on the White Horse Pike near Virginia Avenue.
Investigators say the suspect fired several shots into a group of teens.
The victim, Angel Mercado-Santiago, was shot in the chest. He was later pronounced dead.
A 15-year-old boy was also wounded in the leg. He was taken to AtlantiCare Regional Medical Center for treatment.
On Friday, officials announced that the 14-year-old suspect, whose name is being withheld because he is a juvenile, is facing charges for murder, aggravated assault and weapons offenses. The teen was taken into custody on Sunday.
Police continue to investigate. Anyone with information is urged to call the Atlantic County Prosecutor's Office Major Crimes Unit at (609)-909-7666.