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Nonprofiteer
← NEW BEGINNINGS FAMILY ACADEMY INC

Form 990 for tax year 2022

Filed by NEW BEGINNINGS FAMILY ACADEMY INC.

Totals

Total revenue
$7,844,759
Total expenses
$8,107,306
Contributions and grants received
$7,805,393
Grants paid
$0
Program service revenue
$27,302
Investment income
$24,113
Other revenue
-$12,049
Total assets, end of year
$5,899,969
Total liabilities, end of year
$2,843,800
Net assets or fund balances, end of year
$3,056,169
Program services expenses (Part IX)
$6,959,225
Management and general expenses
$859,074
Fundraising expenses
$289,007
Program service expenses (Part III)
$6,959,225

Program services were 85.8% 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.

  • 1c · Fundraising events

    $67,553

  • 1e · Government grants (contributions)

    $7,293,836

  • 1f · All other contributions, gifts and grants

    $444,004

  • 2a · Program service revenue: STUDENT ACTIVITY FEE

    total $27,302 · related or exempt $27,302

  • 3 · Investment income

    total $24,113 · excluded $24,113

  • 6a · Gross rents

    real property $31,442

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $31,442

  • 6d · Net rental income or loss

    total $31,442 · excluded $31,442

  • 8a · Fundraising events: gross income

    $106,559

  • 8a · Fundraising events: contributions included on line 1c

    $67,553

  • 8b · Fundraising events: direct expenses

    $150,050

  • 8c · Net income from fundraising events

    total -$43,491 · excluded -$43,491

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $417,834 · program services $80,566 · management and general $315,788 · fundraising $21,480

  • 7 · Other salaries and wages

    total $4,493,033 · program services $4,064,820 · management and general $242,162 · fundraising $186,051

  • 9 · Other employee benefits

    total $728,194 · program services $632,507 · management and general $55,691 · fundraising $39,996

  • 10 · Payroll taxes

    total $248,731 · program services $188,587 · management and general $42,710 · fundraising $17,434

  • 11b · Fees: legal

    total $2,631 · management and general $2,631

  • 11c · Fees: accounting

    total $33,400 · management and general $33,400

  • 11g · Fees: other

    total $103,287 · program services $60,879 · management and general $42,408

  • 13 · Office expenses

    total $317,746 · program services $265,022 · management and general $28,678 · fundraising $24,046

  • 14 · Information technology

    total $149,949 · program services $129,599 · management and general $20,350

  • 16 · Occupancy

    total $421,776 · program services $400,688 · management and general $21,088

  • 17 · Travel

    total $29 · program services $29

  • 19 · Conferences, conventions and meetings

    total $1,649 · program services $1,649

  • 20 · Interest

    total $60,675 · program services $60,675

  • 22 · Depreciation, depletion and amortization

    total $527,173 · program services $500,814 · management and general $26,359

  • 23 · Insurance

    total $75,432 · program services $60,346 · management and general $15,086

  • 24a · Other expenses: FOOD SERVICES

    total $412,125 · program services $412,125

  • 24b · Other expenses: STUDENT ACTIVITIES

    total $60,760 · program services $60,760

  • 24c · Other expenses: OTHER ACTIVITIES

    total $40,173 · program services $27,450 · management and general $12,723

  • 24d · Other expenses: OTHER FEES

    total $12,709 · program services $12,709

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,272,044 · end of year $1,224,682

  • 3 · Pledges and grants receivable

    beginning of year $90,312 · end of year $193,818

  • 4 · Accounts receivable

    beginning of year $489,818 · end of year $108,119

  • 9 · Prepaid expenses and deferred charges

    beginning of year $335,130 · end of year $252,839

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

    $9,862,997

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

    $5,749,210

  • 10c · Land, buildings and equipment, net

    beginning of year $4,275,748 · end of year $4,113,787

  • 15 · Other assets

    beginning of year $0 · end of year $6,724

  • 17 · Accounts payable and accrued expenses

    beginning of year $986,798 · end of year $782,573

  • 19 · Deferred revenue

    beginning of year $54,530

  • 23 · Secured mortgages and notes payable

    beginning of year $2,045,000 · end of year $2,045,000

  • 25 · Other liabilities

    beginning of year $58,008 · end of year $16,227

  • 27 · Net assets without donor restrictions

    beginning of year $2,706,709 · end of year $2,608,599

  • 28 · Net assets with donor restrictions

    beginning of year $612,007 · end of year $447,570

Mission and programs · 2022

Mission

NEW BEGINNINGS FAMILY ACADEMY PROVIDES ITS STUDENTS A MEANINGFUL, HIGH-QUALITY EDUCATION THROUGH EXPERIENCE-BASED LEARNING THAT HELPS DEVELOP ESSENTIAL SOCIAL, EMOTIONAL AND CRITICAL-THINKING SKILLS. THIS GIVES ALL CHILDREN A FOUNDATION TO ACHIEVE THEIR FULL POTENTIAL AT EVERY STAGE OF LIFE.

  • OPERATION OF A CHARTER SCHOOL PROVIDING FULL DAY PRE-K, KINDERGARTEN AND GRADES 1-8 FOR 406 STUDENTS BY 29 TEACHERS.

    Expenses $6,959,225 · Revenue $27,302

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Donald Foley

    PRESIDENT

    Total calculated
    $0
    Hours/week
    4

  • Lashea Hall

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    4

  • Mylena Teixeira

    TREASURER

    Total calculated
    $0
    Hours/week
    4

  • Kevin Knight

    SECRETARY

    Total calculated
    $0
    Hours/week
    4

  • Craig Johnson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Mindy Fox Pritchard

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Denise Taylor

    DIRECTOR

    Total calculated
    $56,596
    From this org
    $56,346
    From related orgs
    $0
    Other
    $250
    Hours/week
    4

  • Patricia Sempertegui

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Ronelle P Swagerty

    CEO

    Total calculated
    $203,143
    From this org
    $171,688
    From related orgs
    $0
    Other
    $31,455
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $171,688
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $31,455
    Filer's total
    $203,143

  • Luis Cartagena

    COO & CFO

    Total calculated
    $133,444
    From this org
    $102,479
    From related orgs
    $0
    Other
    $30,965
    Hours/week
    37.5

  • Collette Fearon

    LOWER SCHOOL PRINCIPAL

    Total calculated
    $142,955
    From this org
    $142,512
    From related orgs
    $0
    Other
    $443
    Hours/week
    37.5

  • Valore Turner

    UPPER SCHOOL PRINCIPAL

    Total calculated
    $147,794
    From this org
    $116,367
    From related orgs
    $0
    Other
    $31,427
    Hours/week
    37.5

  • Mariana Figueroa

    LOWER SCHOOL ASSISTANT PRINCIPAL

    Total calculated
    $145,429
    From this org
    $121,872
    From related orgs
    $0
    Other
    $23,557
    Hours/week
    37.5

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
27 February 2024
IRS schema version
2022v5.0
Source object
202420689349300327

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