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Nonprofiteer
← HIGHBRIDGE FACILITIES LLC

Form 990 for tax year 2023

Filed by HIGHBRIDGE FACILITIES LLC.

Totals

Total revenue
$4,971,458
Total expenses
$3,307,957
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$4,712,359
Other revenue
$259,099
Total assets, end of year
$137,751,802
Total liabilities, end of year
$134,802,793
Net assets or fund balances, end of year
$2,949,009
Program services expenses (Part IX)
$3,102,107
Management and general expenses
$205,850
Fundraising expenses
$0
Program service expenses (Part III)
$3,102,107

Program services were 93.8% 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.

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $4,712,359 · excluded $4,712,359

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11a · Other revenue: forgiveness of debt

    total $259,099 · excluded $259,099

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $259,099

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $73,722 · management and general $73,722

  • 11b · Fees: legal

    total $132,128 · management and general $132,128

  • 11g · Fees: other

    total $25,364 · program services $25,364 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $8,151 · program services $8,151

  • 20 · Interest

    total $2,931,223 · program services $2,931,223

  • 22 · Depreciation, depletion and amortization

    total $137,369 · program services $137,369

  • 24e · All other expenses

    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 $45,117,150 · end of year $20,315,226

  • 4 · Accounts receivable

    beginning of year $49,526,857 · end of year $47,722,203

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

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

    $69,714,373

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $42,651,116 · end of year $69,714,373

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $274,331 · end of year $1,934,289

  • 19 · Deferred revenue

    beginning of year $1,185,000 · end of year $2,078,981

  • 20 · Tax-exempt bond liabilities

    beginning of year $130,993,326 · end of year $130,772,955

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $3,556,958 · end of year $16,568

  • 27 · Net assets without donor restrictions

    beginning of year $1,285,508 · end of year $2,949,009

Mission and programs · 2023

Mission

THE PURPOSE OF HIGHBRIDGE FACILITIES LLC IS TO ACQUIRE, DEVELOP, CONSTRUCT, OWN, LEASE, OPERATE AND MAINTAIN REAL PROPERTY ASSETS FOR THE BENEFIT OF FAMILY LIFE ACADEMY CHARTER SCHOOL (FLACS), A NETWORK OF COMMUNITY-BASED TAX-EXEMPT CHARTER SCHOOLS.

Activities or mission (Part I)

THE PURPOSE OF HIGHBRIDGE FACILITIES LLC IS TO ACQUIRE, DEVELOP, CONSTRUCT, OWN, LEASE, OPERATE, AND MAINTAIN REAL PROPERTY ASSETS FOR THE BENEFIT OF FLACS.

  • THE PURPOSE OF HIGHBRIDGE FACILITIES LLC IS TO ACQUIRE, DEVELOP, CONSTRUCT, OWN, LEASE, OPERATE AND MAINTAIN REAL PROPERTY ASSETS FOR THE BENEFIT OF FAMILY LIFE ACADEMY CHARTER SCHOOL (FLACS), A NETWORK OF COMMUNITY-BASED TAX-EXEMPT CHARTER SCHOOLS.

    Expenses $3,102,107

As filed on the 2023 return.

Listed in Part VII

  • Joel Rivera

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Rosa Mercado

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Nilza Oyola

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Susana R Leon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Kevin Kearns

    CHIEF FINANCIAL OFFICER

    Total calculated
    $0
    Hours/week
    4 + 4 related

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
202531269349302448

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