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Nonprofiteer
← MAGNOLIA EDUCATIONAL & RESEARCH FOUNDATION

Form 990 for tax year 2023

Filed by MAGNOLIA EDUCATIONAL & RESEARCH FOUNDATION.

Totals

Total revenue
$84,399,638
Total expenses
$78,564,322
Contributions and grants received
$75,816,762
Grants paid
$0
Program service revenue
$0
Investment income
$65,249
Other revenue
$8,517,627
Total assets, end of year
$76,058,129
Total liabilities, end of year
$72,312,052
Net assets or fund balances, end of year
$3,746,077
Program services expenses (Part IX)
$51,005,340
Management and general expenses
$27,558,982
Fundraising expenses
$0
Program service expenses (Part III)
$51,005,340

Program services were 64.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $49,000

  • 1e · Government grants (contributions)

    $75,767,762

  • 3 · Investment income

    total $65,249 · excluded $65,249

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $49,000

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: LEASE OBLIGATION

    total $8,517,627 · related or exempt $8,517,627

  • 11e · Other revenue, total

    $8,517,627

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $671,982 · program services $274,357 · management and general $397,625

  • 7 · Other salaries and wages

    total $36,094,578 · program services $24,287,877 · management and general $11,806,701

  • 9 · Other employee benefits

    total $5,069,810 · program services $5,001,670 · management and general $68,140

  • 10 · Payroll taxes

    total $9,878,973 · program services $7,297,340 · management and general $2,581,633

  • 11c · Fees: accounting

    total $10,409 · management and general $10,409

  • 11g · Fees: other

    total $3,164,359 · management and general $3,164,359

  • 12 · Advertising and promotion

    total $404,280 · management and general $404,280

  • 13 · Office expenses

    total $1,130,271 · program services $615,401 · management and general $514,870

  • 14 · Information technology

    total $482,712 · program services $482,712

  • 16 · Occupancy

    total $7,107,532 · program services $411,752 · management and general $6,695,780

  • 17 · Travel

    total $172,199 · management and general $172,199

  • 19 · Conferences, conventions and meetings

    total $146 · management and general $146

  • 20 · Interest

    total $2,761,435 · program services $2,761,435

  • 22 · Depreciation, depletion and amortization

    total $1,684,083 · program services $1,684,083

  • 23 · Insurance

    total $694,991 · management and general $694,991

  • 24a · Other expenses: STUDENT ACTIVITIES

    total $2,191,209 · program services $2,191,209

  • 24b · Other expenses: SPECIAL EDUCATION

    total $1,340,307 · program services $1,340,307

  • 24c · Other expenses: BOOKS AND OTHER MATERIA

    total $1,340,183 · program services $1,340,183

  • 24d · Other expenses: CAPITAL OUTLAY

    total $1,092,460 · program services $1,092,460

  • 24e · All other expenses

    total $3,272,403 · program services $2,224,554 · management and general $1,047,849

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $39,137,398 · end of year $43,849,745

  • 9 · Prepaid expenses and deferred charges

    beginning of year $349,445 · end of year $581,649

  • 10a · Land, buildings and equipment: cost or other basis

    $40,378,021

  • 10b · Land, buildings and equipment: accumulated depreciation

    $11,036,739

  • 10c · Land, buildings and equipment, net

    beginning of year $26,834,700 · end of year $29,341,282

  • 15 · Other assets

    beginning of year $2,787,938 · end of year $2,285,453

  • 17 · Accounts payable and accrued expenses

    beginning of year $45,140,371 · end of year $49,904,987

  • 23 · Secured mortgages and notes payable

    beginning of year $3,774,168 · end of year $3,754,036

  • 24 · Unsecured notes and loans payable

    beginning of year $17,340,855 · end of year $16,551,798

  • 25 · Other liabilities

    beginning of year $2,693,953 · end of year $2,101,231

  • 27 · Net assets without donor restrictions

    beginning of year $160,134 · end of year $3,746,077

Mission and programs · 2023

Mission

OUR MISSION IS TO RAISE CIVICALLY RESPONSIBLE SCIENTIFIC THINKERS.MPS IS A NETWORK OF 10 HIGH-PERFORMING PUBLIC CHARTER SCHOOLS THAT SERVES 3890 STUDENTS IN LOS ANGELES,ORANGE,AND SAN DIEGO COUNTIES. THE SCHOOLS ARE AUTHORIZED BY THE LOS ANGELES UNIFIED SCHOOL DISTRICT (4), LOS ANGELES COUNTY OFFICE OF EDUCATION (4), SAN DIEGO UNIFIED SCHOOL DISTRICT (1) AND THE CALIFORNIA DEPARTMENT OF EDUCATION (1). FOR MORE THAN 15 YEARS, MPS HAS DELIVERED HIGH-QUALITY EDUCATION EMPHASIZING SCIENCE, TECHNOLOGY, ENGINEERING, ARTS AND MATH. U.S. NEWS AND WORLD REPORT AND THE WASHINGTON POST RANK MPS SCIENCE ACADEMIES AMONG THE TOP SCHOOLS IN THE COUNTRY.

Activities or mission (Part I)

MERF OPERATED ELEVEN MAGNOLIA SCIENCE ACADEMY (MSA) KINDERGARTEN THROUGH GRADE TWELVE CHARTER SCHOOLS SERVING 3,890 STUDENTS THROUGHOUT CALIFORNIA DEDICATED TO INSPIRING STUDENTS TO CHOOSE CAREER PATHS IN SCIENCE, TECHNOLOGY, ENGINEERING, AND MATH (STEM), WHILE PROVIDING A ROBUST, STANDARDS-BASED EDUCATION PROGRAM WITHIN A SUPPORTIVE CULTURE OF EXCELLENCE.

  • MERF OPERATES TEN MAGNOLIA SCIENCE ACADEMIES (MSA) SERVING 3,715 STUDENTS IN GRADES KINDERGARTEN THROUGH TWELVE CHARTER THROUGHOUT CALIFORNIA.

    Expenses $51,005,340

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Dr Umit Yapenel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Salih Dikbas

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Sandra Covarrubias

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Diane Gonzalez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Mekan Muhammedov

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Esra Eldem-Tunc

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Alfredo Rubalcava

    CEO

    Total calculated
    $274,357
    From this org
    $255,694
    From related orgs
    $0
    Other
    $18,663
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $255,694
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $18,663
    Filer's total
    $274,357

  • Steve Budhraja

    CHIEF FINANCIAL OFFICER

    Total calculated
    $199,711
    From this org
    $187,269
    From related orgs
    $0
    Other
    $12,442
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $187,269
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $12,442
    Filer's total
    $199,711

  • Patrick Anton Ontiveros

    CHIEF FACILITY OFFICER

    Total calculated
    $197,914
    From this org
    $190,935
    From related orgs
    $0
    Other
    $6,979
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $190,935
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $6,979
    Filer's total
    $197,914

  • Suat Acar

    CHIEF OPERATING OFFICE

    Total calculated
    $200,612
    From this org
    $181,949
    From related orgs
    $0
    Other
    $18,663
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $181,949
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $18,663
    Filer's total
    $200,612

  • Erdinc Acar

    DEPUTY SUPERINTENDENT

    Total calculated
    $209,553
    From this org
    $190,890
    From related orgs
    $0
    Other
    $18,663
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $190,890
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $18,663
    Filer's total
    $209,553

  • David E Yilmaz

    CHIEF ACCOUNTABILITY OFFIC

    Total calculated
    $202,657
    From this org
    $183,994
    From related orgs
    $0
    Other
    $18,663
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $183,994
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $18,663
    Filer's total
    $202,657

  • Brenda Lopez

    CHIEF EXTERNAL OFFICER

    Total calculated
    $186,444
    From this org
    $167,781
    From related orgs
    $0
    Other
    $18,663
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $167,781
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $18,663
    Filer's total
    $186,444

  • Turan Cafer

    SENIOR CONTROLLER

    Total calculated
    $182,756
    From this org
    $149,312
    From related orgs
    $0
    Other
    $33,444
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $149,312
    Bonus
    $0
    Other
    $0
    Deferred
    $14,781
    Nontaxable benefits
    $18,663
    Filer's total
    $182,756

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
13 January 2025
IRS schema version
2023v6.0
Source object
202520159349301032

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