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Nonprofiteer
← LAKE CHARLES CHARTER ACADEMY FOUNDATION INC

Form 990 for tax year 2022

Filed by LAKE CHARLES CHARTER ACADEMY FOUNDATION INC.

Totals

Total revenue
$41,380,391
Total expenses
$39,012,143
Contributions and grants received
$41,365,961
Grants paid
$0
Program service revenue
$110,466
Investment income
-$681,428
Other revenue
$585,392
Total assets, end of year
$66,334,710
Total liabilities, end of year
$52,814,715
Net assets or fund balances, end of year
$13,519,995
Program services expenses (Part IX)
$28,664,202
Management and general expenses
$10,347,941
Fundraising expenses
$0
Program service expenses (Part III)
$28,664,202

Program services were 73.5% 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.

  • 1e · Government grants (contributions)

    $41,365,961

  • 2a · Program service revenue: E-RATE REVENUES

    total $59,717 · related or exempt $59,717

  • 2b · Program service revenue: BEFORE AND AFTERCARE

    total $50,749 · related or exempt $50,749

  • 3 · Investment income

    total $310,694 · excluded $310,694

  • 7a · Gross sales of assets other than inventory

    other assets $2,712,000

  • 7b · Less cost or other basis and sales expenses

    other assets $3,704,122

  • 7c · Gain or loss

    other assets -$992,122

  • 7d · Net gain or loss

    total -$992,122 · excluded -$992,122

  • 11a · Other revenue: INSURANCE PROCEEDS

    total $464,735 · related or exempt $464,735

  • 11b · Other revenue: MISCELLANEOUS REVENUES

    total $120,657 · related or exempt $120,657

  • 11e · Other revenue, total

    $585,392

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $13,675,401 · program services $13,290,049 · management and general $385,352

  • 9 · Other employee benefits

    total $1,532,819 · program services $1,097,426 · management and general $435,393

  • 10 · Payroll taxes

    total $1,046,168 · program services $1,016,689 · management and general $29,479

  • 11g · Fees: other

    total $8,387,440 · program services $3,215,706 · management and general $5,171,734

  • 12 · Advertising and promotion

    total $217,792 · program services $2,953 · management and general $214,839

  • 13 · Office expenses

    total $95,239 · program services $83,102 · management and general $12,137

  • 14 · Information technology

    total $239,532 · program services $191,627 · management and general $47,905

  • 16 · Occupancy

    total $239,614 · program services $229,679 · management and general $9,935

  • 17 · Travel

    total $96,753 · program services $77,403 · management and general $19,350

  • 20 · Interest

    total $3,672,337 · management and general $3,672,337

  • 22 · Depreciation, depletion and amortization

    total $2,287,451 · program services $2,192,522 · management and general $94,929

  • 23 · Insurance

    total $153,110 · program services $146,762 · management and general $6,348

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $3,064,089 · program services $2,936,442 · management and general $127,647

  • 24b · Other expenses: SUPPLIES AND MATERIALS

    total $1,863,348 · program services $1,831,241 · management and general $32,107

  • 24c · Other expenses: FOOD COSTS

    total $1,467,460 · program services $1,467,460

  • 24d · Other expenses: UTILITIES

    total $858,000 · program services $799,394 · management and general $58,606

  • 24e · All other expenses

    total $115,590 · program services $85,747 · management and general $29,843

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,508,146 · end of year $10,252,716

  • 2 · Savings and temporary cash investments

    beginning of year $2,313,335 · end of year $1,614,640

  • 3 · Pledges and grants receivable

    beginning of year $1,316,528 · end of year $2,148,789

  • 4 · Accounts receivable

    beginning of year $129,990 · end of year $70,191

  • 9 · Prepaid expenses and deferred charges

    beginning of year $41,586 · end of year $8,378

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

    $60,199,189

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

    $13,343,542

  • 10c · Land, buildings and equipment, net

    beginning of year $15,661,805 · end of year $46,855,647

  • 15 · Other assets

    beginning of year $1,477,681 · end of year $5,384,349

  • 17 · Accounts payable and accrued expenses

    beginning of year $657,084 · end of year $594,330

  • 20 · Tax-exempt bond liabilities

    beginning of year $13,136,296 · end of year $49,625,348

  • 25 · Other liabilities

    beginning of year $1,450,179 · end of year $2,595,037

  • 27 · Net assets without donor restrictions

    beginning of year $7,205,512 · end of year $13,519,995

Mission and programs · 2022

Mission

LAKE CHARLES CHARTER ACADEMY FOUNDATION, INC. IS A NON-PROFIT ENTITY ORGANIZED EXCLUSIVELY FOR EDUCATIONAL PURPOSES AND IS COMPRISED OF RESPECTED LEADERS IN THE LAKE CHARLES COMMUNITY THAT ARE COMMITTED TO PROVIDING HIGH QUALITY EDUCATIONAL OPTIONS FOR THE CITIZENS OF THE CALCASIEU PARISH.

Activities or mission (Part I)

THE FOUNDATION OWNS AND OPERATES LAKE CHARLES CHARTER ACADEMY IN THE LOUISIANA PARISH OF CALCASIEU. THE SCHOOL PROVIDES STUDENTS, FROM KINDERGARTEN TO EIGHTH (K-8) GRADE, WITH THE NECESSARY TOOLS AND SKILLS NEEDED TO DEVELOP SUPERIOR LEVELS OF ACHIEVEMENT.

  • INSTRUCTIONAL SERVICES: PROVIDE EDUCATION TO STUDENTS THROUGH AN ENVIRONMENT THAT INTEGRATES A RESEARCH-BASED CURRICULUM, AND A CULTURE OF SUCCESS AND CONCENTRATION ON ACADEMIC RIGOR.

    Expenses $28,664,202 · Revenue $695,858

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Judge Ulysses Gene Thibodeaux

    PRESIDENT

    Total calculated
    $0
    Hours/week
    10

  • Rebecca Boniol

    VICE-PRESIDENT

    Total calculated
    $0
    Hours/week
    3

  • Clyde W Mitchell

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    3

  • Nicole Simien

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • Phyllis Kettling

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • Sylvia Stelly

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • Ron Richard

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • Charles A Honore

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • Patricia Lawrence

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202431369349308023

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