Form 990 for tax year 2023
Filed by SCHOLARS ACADEMY FOUNDATION FOR THE GIFTED.
Totals
- Total revenue
- $401,364
- Total expenses
- $93,908
- Contributions and grants received
- $390,834
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $10,530
- Other revenue
- $0
- Total assets, end of year
- $666,256
- Total liabilities, end of year
- $0
- Net assets or fund balances, end of year
- $666,256
- Program services expenses (Part IX)
- $93,908
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $93,908
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.
-
1f · All other contributions, gifts and grants
$390,834
-
3 · Investment income
total $10,530
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $0
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $0
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $0
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $0
-
11d · Fees: lobbying
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $0
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $0
-
17 · Travel
total $0
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $0
-
23 · Insurance
total $0
-
24a · Other expenses: Donations
total $81,536 · program services $81,536
-
24b · Other expenses: Contracted Services
total $1,857 · program services $1,857
-
24c · Other expenses: Supplies and materials
total $3,800 · program services $3,800
-
24d · Other expenses: Bank charges
total $6,715 · program services $6,715
-
24e · All other expenses
total $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $358,800 · end of year $666,256
-
27 · Net assets without donor restrictions
beginning of year $355,769 · end of year $663,075
-
28 · Net assets with donor restrictions
beginning of year $3,031 · end of year $3,181
Mission and programs · 2023
Mission
Support Metrolina Regional Scholars Academy, Inc. through fundraising and collection of donations.
-
Donations collected for supporting Metrolina Regional Scholars Academy.
Expenses $93,908
As filed on the 2023 return.
Listed in Part VII
-
Malik Dixon
President
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
AJ Farooqi
Vice President
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Adam Starling
Treasurer
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Weiyi Ning
Trustee
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Mani Ramasamy
Trustee
- Total calculated
- $0
- Hours/week
- 1 + 1 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.
-
The Metrolina Regional Scholars Academy
501 c3 · Education of Scholars · NC
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 14 March 2025
- IRS schema version
- 2023v6.0
- Source object
- 202520739349300707
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