Form 990 for tax year 2023
Filed by FOUNDATION ACADEMY CHARTER SCHOOL.
Totals
- Total revenue
- $29,462,595
- Total expenses
- $27,059,830
- Contributions and grants received
- $27,682,765
- Grants paid
- $0
- Program service revenue
- $1,901,918
- Investment income
- $223,685
- Other revenue
- -$345,773
- Total assets, end of year
- $23,999,152
- Total liabilities, end of year
- $11,220,205
- Net assets or fund balances, end of year
- $12,778,947
- Program services expenses (Part IX)
- $22,752,441
- Management and general expenses
- $4,307,389
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $22,752,441
Program services were 84.1% 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)
$27,446,046
-
1f · All other contributions, gifts and grants
$236,719
-
2a · Program service revenue: OTHER PROGRAM REVENUE-LINE 2
total $1,901,918 · related or exempt $1,901,918
-
3 · Investment income
total $223,685 · related or exempt $223,685
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7d · Net gain or loss
total $0
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10a · Gross sales of inventory
-$345,773
-
10c · Net income from sales of inventory
total -$345,773 · related or exempt -$345,773
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $1,897,744 · program services $1,592,137 · management and general $305,607
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $10,622,001 · program services $8,911,466 · management and general $1,710,535
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $3,685,203 · program services $3,091,749 · management and general $593,454
-
10 · Payroll taxes
total $0
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $47,516 · program services $39,864 · management and general $7,652
-
11c · Fees: accounting
total $42,500 · program services $35,656 · management and general $6,844
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $4,340,996 · program services $3,641,935 · management and general $699,061
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $350,769 · program services $294,282 · management and general $56,487
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $1,485,514 · program services $1,246,291 · management and general $239,223
-
17 · Travel
total $0
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $913,038 · program services $766,005 · management and general $147,033
-
23 · Insurance
total $0
-
24a · Other expenses: OFFICE SUPPLIES
total $1,080,540 · program services $906,534 · management and general $174,006
-
24b · Other expenses: OTHER SERVICE FEES
total $934,398 · program services $783,925 · management and general $150,473
-
24c · Other expenses: CAPITAL OUTLAY
total $672,977 · program services $564,603 · management and general $108,374
-
24d · Other expenses: EDUCATIONAL SUPPLIES
total $393,391 · program services $330,040 · management and general $63,351
-
24e · All other expenses
total $593,243 · program services $547,954 · management and general $45,289
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $6,992,102 · end of year $8,385,173
-
2 · Savings and temporary cash investments
beginning of year $976,618 · end of year $1,465,589
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
beginning of year $1,255,568 · end of year $1,336,469
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
end of year $480,000
-
10a · Land, buildings and equipment: cost or other basis
$9,294,220
-
10b · Land, buildings and equipment: accumulated depreciation
$1,844,949
-
10c · Land, buildings and equipment, net
beginning of year $7,533,543 · end of year $7,449,271
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
beginning of year $4,598,787 · end of year $4,882,650
-
17 · Accounts payable and accrued expenses
beginning of year $316,659 · end of year $183,868
-
19 · Deferred revenue
beginning of year $438,191 · end of year $322,341
-
25 · Other liabilities
beginning of year $10,225,586 · end of year $10,713,996
-
27 · Net assets without donor restrictions
beginning of year $10,353,608 · end of year $12,758,588
-
28 · Net assets with donor restrictions
beginning of year $22,574 · end of year $20,359
Mission and programs · 2023
Mission
As a college-preparatory school, Foundation Academy Charter Schools mission is to ensure that all of their students secure the academic knowledge and skills to prepare them for the nations finest colleges, and to instill in them the core values of caring, respect, responsibility and honesty. Foundation Academy Charter Schools program is modeled after some of the highest performing urban charter schools in the country, and includes standardized classroom procedures, regular testing to track student progress, more time on task, a focus on values and building community, clear and innovative rewards and consequences designed to teach and emphasize positive academic and social behavior, school uniforms, 90-120 minutes of homework each night, and an overall rigorous academic program. Foundation Academy Charter School provides a longer school day and a longer school year which includes a two week summer session. Language arts and math classes are taught for more minutes each week than most sc
-
During the sixteenth year of operation, the 2023-2024 school year, Foundation Academy Charter School provided a full range of educational services appropriate for all students in grades Kindergarten through 12th Grade. The Educational program includes social, health and nutrition services that support the total education of the student. In addition, the educational services include regular, as well as special education instruction. Foundation Academy Charter School promotes the full involvement of parents in their childrens educational development. The Charter School completed the 2023-2024 school year with the following enrollment: 253 primary school students in Kindergarten, Grade 1 and Grade 2; 255 intermediate school students were enrolled in Grades 3 through 5; 252 middle school students in Grades 6 through 8; and 328 high school students were enrolled in grades 9 thru 12. The Average Daily Enrollment (ADE) for the entire charter school for the 2023-2024 school year was 1074 students.
Expenses $22,752,441
As filed on the 2023 return.
Listed in Part VII
-
JACQUI GRIFFITH
Vice President
- Total calculated
- $0
- Hours/week
- 40
-
DUNCAN HARRIS
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
KIMME CARLOS
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
STACY DENTON
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
STEFANI SCHWARTZ
BOARD COUNSEL
- Total calculated
- $0
- Hours/week
- 2
-
TODD KENT
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
RICHARD SEIGIER-CARTER
President
- Total calculated
- $0
- Hours/week
- 2
-
ANGELA JOYNER
MIDDLE SCH PR
- Total calculated
- $0
- Hours/week
- 40
-
CARL SEIDEN
Trustee
- Total calculated
- $0
- Hours/week
- 2
-
ANDRE MOORE
CFO
- Total calculated
- $0
- Hours/week
- 40
-
DIANA UBALDO
BUS. ADMIN.
- Total calculated
- $0
- Hours/week
- 40
-
CHRISTOPER MULLINS
Treasurer
- Total calculated
- $0
- Hours/week
- 2
-
SHERIA MC RAE
CHIEF ACAD OFF
- Total calculated
- $0
- Hours/week
- 40
-
NATASIA COOPER
CHIEF ACAD OFCR
- Total calculated
- $0
- Hours/week
- 40
-
ISABEL GOSS
HIGH SCH PRINC
- Total calculated
- $0
- Hours/week
- 40
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
- 2023
- Filed
- 15 May 2025
- IRS schema version
- 2023v6.0
- Source object
- 202501359349315950
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