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← FRIENDS OF EXCELL ACADEMY

Form 990 for tax year 2022

Filed by FRIENDS OF EXCELL ACADEMY.

Totals

Total revenue
$845,975
Total expenses
$1,060,690
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$811,750
Investment income
$34,225
Other revenue
$0
Total assets, end of year
$12,218,696
Total liabilities, end of year
$13,759,232
Net assets or fund balances, end of year
-$1,540,536
Program services expenses (Part IX)
$1,060,690
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$1,060,690

Program services were 100.0% 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: SCHOOL BUILDING RENTAL

    total $811,750 · related or exempt $811,750

  • 3 · Investment income

    total $34,225 · excluded $34,225

Functional expenses

Part IX, the statement of functional expenses.

  • 11g · Fees: other

    total $108,997 · program services $108,997

  • 20 · Interest

    total $612,120 · program services $612,120

  • 22 · Depreciation, depletion and amortization

    total $318,707 · program services $318,707

  • 23 · Insurance

    total $20,866 · program services $20,866

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,659 · end of year $1,122

  • 2 · Savings and temporary cash investments

    beginning of year $952,858 · end of year $990,082

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

    $12,367,935

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

    $1,140,443

  • 10c · Land, buildings and equipment, net

    beginning of year $12,031,533 · end of year $11,227,492

  • 17 · Accounts payable and accrued expenses

    beginning of year $28,914 · end of year $28,601

  • 20 · Tax-exempt bond liabilities

    beginning of year $13,626,904 · end of year $13,434,657

  • 25 · Other liabilities

    beginning of year $177,719 · end of year $295,974

  • 29 · Capital stock, trust principal or current funds

    beginning of year -$576,716 · end of year -$1,528,144

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year -$263,771 · end of year -$12,392

  • 31 · Retained earnings, endowment or other funds

    beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

TO PURCHASE, OWN, AND OR CONSTRUCT A PUBLIC SCHOOLHOUSE, FOR LEASE TO THE SCHOOL.

Activities or mission (Part I)

MAINTAIN SCHOOL BUILDING LEASED TO EXCELL ACADEMY.

  • MAINTAIN SCHOOL BUILDING LEASED TO EXCELL ACADEMY.

    Expenses $1,060,690 · Revenue $811,750

As filed on the 2022 return.

Listed in Part VII

  • Karen Stovall

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Candace Dunbar

    SECRETARY

    Total calculated
    $71,387
    From this org
    $0
    From related orgs
    $60,143
    Other
    $11,244
    Hours/week
    1

  • Chris Barton

    TREASURER

    Total calculated
    $0
    Hours/week
    1

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.

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
2022
Filed
23 April 2024
IRS schema version
2022v5.0
Source object
202431369349310978

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