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Nonprofiteer
← SOCRATES ACADEMY FOUNDATION INC

Form 990 for tax year 2022

Filed by SOCRATES ACADEMY FOUNDATION INC.

Totals

Total revenue
$552,338
Total expenses
$894,728
Contributions and grants received
$9,197
Grants paid
$0
Program service revenue
$540,000
Investment income
$3,064
Other revenue
$77
Total assets, end of year
$16,561,491
Total liabilities, end of year
$12,632,598
Net assets or fund balances, end of year
$3,928,893
Program services expenses (Part IX)
$860,976
Management and general expenses
$13,989
Fundraising expenses
$19,763
Program service expenses (Part III)
$860,976

Program services were 96.2% 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.

  • 1f · All other contributions, gifts and grants

    $9,197

  • 2a · Program service revenue: Rental Fees

    total $540,000 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $3,064 · unrelated business $0 · excluded $0

  • 11a · Other revenue: Other

    total $77 · related or exempt $77 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $77

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $4,810 · program services $0 · management and general $4,810 · fundraising $0

  • 13 · Office expenses

    total $1,466 · program services $0 · management and general $1,466 · fundraising $0

  • 20 · Interest

    total $566,185 · program services $566,185 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $294,791 · program services $294,791 · management and general $0 · fundraising $0

  • 24a · Other expenses: Property Taxes

    total $6,247 · program services $0 · management and general $6,247 · fundraising $0

  • 24b · Other expenses: Repairs/Maintenance

    total $711 · program services $0 · management and general $711 · fundraising $0

  • 24c · Other expenses: Other

    total $20,518 · program services $0 · management and general $755 · fundraising $19,763

  • 24d · Other expenses: Donation

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $91,284 · end of year $56,320

  • 2 · Savings and temporary cash investments

    beginning of year $624,281 · end of year $484,860

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

    $19,352,563

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

    $3,332,252

  • 10c · Land, buildings and equipment, net

    beginning of year $15,868,299 · end of year $16,020,311

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $310,658 · end of year $226,522

  • 23 · Secured mortgages and notes payable

    beginning of year $12,001,923 · end of year $12,406,076

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $4,271,283 · end of year $3,928,893

Mission and programs · 2022

Mission

To raise funds for Socrates Academy and lease real property to Socrates Academy.

  • Raise funds for the Socrates Academy, Inc. and lease the real estate to the school for the operation of the charter school.

    Expenses $860,976 · Revenue $552,338

As filed on the 2022 return.

Listed in Part VII

  • Klea Miho

    Member

    Total calculated
    $0
    Hours/week
    5

  • Dr Zoi Philippakos

    Member

    Total calculated
    $0
    Hours/week
    5

  • Antonis Stylianou

    Vice President

    Total calculated
    $0
    Hours/week
    5

  • Barry Robinson

    Secretary

    Total calculated
    $0
    Hours/week
    5

  • George Kokalis

    Treasurer

    Total calculated
    $0
    Hours/week
    5

  • John Couchell

    President

    Total calculated
    $0
    Hours/week
    5

  • Rhonda Patterson

    Member

    Total calculated
    $0
    Hours/week
    5

  • Dr Brenda Bilal

    Member

    Total calculated
    $0
    Hours/week
    5

  • Janis Dellinger-Holton

    Member

    Total calculated
    $0
    Hours/week
    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.

Provenance

Return type
form_990
Tax year
2022
Filed
22 April 2024
IRS schema version
2022v5.0
Source object
202421179349301117

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