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Nonprofiteer
← FRIENDS OF COLLEGIATE ACADEMIES INC

Form 990 for tax year 2023

Filed by FRIENDS OF COLLEGIATE ACADEMIES INC.

Totals

Total revenue
$757,164
Total expenses
$946,651
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$4,300
Other revenue
$752,864
Total assets, end of year
$9,750,896
Total liabilities, end of year
$9,575,947
Net assets or fund balances, end of year
$174,949
Program services expenses (Part IX)
$656,313
Management and general expenses
$290,338
Fundraising expenses
$0
Program service expenses (Part III)
$656,313

Program services were 69.3% 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.

  • 3 · Investment income

    total $4,300 · excluded $4,300

  • 6a · Gross rents

    real property $752,864

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $752,864

  • 6d · Net rental income or loss

    total $752,864 · related or exempt $752,864

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $15,053 · management and general $15,053

  • 13 · Office expenses

    total $75,635 · management and general $75,635

  • 20 · Interest

    total $576,987 · program services $435,263 · management and general $141,724

  • 22 · Depreciation, depletion and amortization

    total $278,976 · program services $221,050 · management and general $57,926

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $139,626 · end of year $188,777

  • 3 · Pledges and grants receivable

    beginning of year $96,432 · end of year $60,060

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

    $10,802,822

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

    $1,342,249

  • 10c · Land, buildings and equipment, net

    beginning of year $9,736,185 · end of year $9,460,573

  • 15 · Other assets

    beginning of year $0 · end of year $41,486

  • 17 · Accounts payable and accrued expenses

    beginning of year $311,893 · end of year $40,637

  • 24 · Unsecured notes and loans payable

    beginning of year $101,573 · end of year $158,821

  • 25 · Other liabilities

    beginning of year $9,194,341 · end of year $9,376,489

  • 27 · Net assets without donor restrictions

    beginning of year $364,436 · end of year $174,949

Mission and programs · 2023

Mission

FRIENDS OF COLLEGIATE ACADEMIES, INC. IS OPERATED FOR THE BENEFIT OF COLLEGIATE ACADEMIES, AND ORGANIZATION EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501C3 OF THE INTERNAL REVENUE CODE.

  • THE ORGANIZATION IS OPERATED FOR THE BENEFIT AND SUPPORT OF COLLEGIATE ACADEMIES A NON-PROFIT PUBLIC CHARTER SCHOOL SERVING HIGH SCHOOL STUDENTS IN NEW ORLEANS AND BATON ROUGE.

    Expenses $656,313

As filed on the 2023 return.

Listed in Part VII

  • Stephen R Rosenthal

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Douglas W Finegan

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Gregor Michael St Etienne

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Jonathan Wilson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Terrance Lockett

    BOARD MEMBER

    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
2023
Filed
6 May 2025
IRS schema version
2023v6.0
Source object
202511339349304366

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