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Nonprofiteer
← LEADERS & SCHOLARS INC

Form 990 for tax year 2023

Filed by LEADERS & SCHOLARS INC.

Totals

Total revenue
$1,310,253
Total expenses
$1,749,252
Contributions and grants received
$0
Grants paid
$375,579
Program service revenue
$1,203,329
Investment income
$90,608
Other revenue
$16,316
Total assets, end of year
$15,149,318
Total liabilities, end of year
$15,752,894
Net assets or fund balances, end of year
-$603,576
Program services expenses (Part IX)
$1,572,383
Management and general expenses
$176,869
Fundraising expenses
$0
Program service expenses (Part III)
$1,572,383

Program services were 89.9% 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.

  • 2a · Program service revenue: RENTAL INCOME

    total $1,203,329 · related or exempt $1,203,329

  • 3 · Investment income

    total $90,608 · excluded $90,608

  • 8a · Fundraising events: gross income

    $38,325

  • 8b · Fundraising events: direct expenses

    $22,009

  • 8c · Net income from fundraising events

    total $16,316 · excluded $16,316

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $375,579 · program services $375,579

  • 11g · Fees: other

    total $6,350 · program services $6,350

  • 16 · Occupancy

    total $1,144 · program services $1,029 · management and general $115

  • 20 · Interest

    total $862,382 · program services $755,486 · management and general $106,896

  • 22 · Depreciation, depletion and amortization

    total $482,152 · program services $433,939 · management and general $48,213

  • 24a · Other expenses: BANK FEES

    total $13,793 · management and general $13,793

  • 24b · Other expenses: OTHER EXPENSES

    total $7,852 · management and general $7,852

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $926,588 · end of year $744,139

  • 2 · Savings and temporary cash investments

    end of year $140,060

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

    $16,321,790

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

    $3,285,655

  • 10c · Land, buildings and equipment, net

    beginning of year $13,518,287 · end of year $13,036,135

  • 12 · Investments: other securities

    beginning of year $1,055,795 · end of year $1,077,879

  • 15 · Other assets

    beginning of year $169,176 · end of year $151,105

  • 17 · Accounts payable and accrued expenses

    beginning of year $71,315 · end of year $70,215

  • 20 · Tax-exempt bond liabilities

    beginning of year $14,641,237 · end of year $15,188,944

  • 25 · Other liabilities

    beginning of year $1,121,871 · end of year $493,735

  • 27 · Net assets without donor restrictions

    beginning of year -$164,577 · end of year -$603,576

Mission and programs · 2023

Mission

THE PURPOSE OF THIS CORPORATION IS TO OPERATE EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF RIVER CHARTER SCHOOLS (FORMERLY KNOWN AS FRIENDS OF CLARKSBURG SCHOOLS).

  • LEADERS & SCHOLARS, INC., IS A SUPPORTING ORGANIZATION OF RIVER CHARTER SCHOOLS IN THAT IT FACILITATES AND SUPPORTS THE DEVELOPMENT OF CHARTER SCHOOLS FOR RIVER CHARTER SCHOOLS, CONDUCTS THE CRAB FEED AND OTHER SMALL FUNDRAISERS ENABLING FUNDS TO BE GIVEN TO RIVER CHARTER SCHOOLS.

    Expenses $382,958 · Grants $375,579

  • OWNS LAND AND BUILDINGS FOR THE USE OF LIGHTHOUSE CHARTER SCHOOL.

    Expenses $1,121,564 · Revenue $1,203,329

  • LEASES SOME PRE-MANUFACTURED CLASSROOMS WHERE RIVER CHARTER SCHOOL OPERATES DELTA ELEMENTARY CHARTER SCHOOL.

    Expenses $67,861

As filed on the 2023 return.

Listed in Part VII

  • Karen Clark

    PRESIDENT/DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Sandy Adams Hr

    SECRETARY/CFO/DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Rina Dimare

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

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

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • LEADERS & SCHOLARS LLC

    HOLDING TITLE TO PROPERTY FOR LEADERS & SCHOLARS INC · CA · income $0 · assets $123

    Directly controlled by LEADERS & SCHOLARS INC

  • LEADERS & SCHOLARS TWO LLC

    HOLDING TITLE TO PROPERTY FOR LEADERS & SCHOLARS INC · CA · income $1,293,937 · assets $14,995,871

    Directly controlled by LEADERS & SCHOLARS INC

Provenance

Return type
form_990
Tax year
2023
Filed
11 May 2025
IRS schema version
2023v6.0
Source object
202511339349307866

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