FRIENDS OF EXCEL ACADEMY INC: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- FRIENDS OF EXCEL ACADEMY INC (EIN 30-0211613)
- Tax period
- 2022-07-01 to 2023-06-30
- Filed
- 2024-05-05
- IRS object ID
- 202411269349300416
- Schema version
- 2022v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule C
- Schedule D
- Schedule G
- Schedule I
- Schedule K
- Schedule M
- Schedule O
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-05-05T16:18:20-05:00 | ReturnTs |
| Tax Period End | 2023-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 042571780 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | AAFCPAS INC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 50 WASHINGTON STREET | AddressLine1Txt |
| City | WESTBOROUGH | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01581 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2022-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 300211613 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FRIENDS OF EXCEL ACADEMY CHARTER | BusinessNameLine1Txt |
| Business Name Line2 | SCHOOLS INC | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | FRIE | BusinessNameControlTxt |
| Phone | 6178744080 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 58 MOORE STREET | AddressLine1Txt |
| City | EAST BOSTON | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02128 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | SETH REYNOLDS | PersonNm |
| Person Title | PRESIDENT | PersonTitleTxt |
| Phone | 6175611371 | PhoneNum |
| Signature | 2024-04-30 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | SETH | PersonFirstNm |
| Person Last | REYNOLDS | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | XXX-XX-XXXX | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | JOHN BUCKLEY CPA | PreparerPersonNm |
| PTIN | P00830631 | PTIN |
| Phone | 5083669100 | PhoneNum |
| Preparation | 2024-04-30 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | SETH REYNOLDS | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 58 MOORE STREET | AddressLine1Txt |
| City | EAST BOSTON | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02128 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $14,472,888 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | N/A | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2004 | FormationYr |
| Legal Domicile State | MA | LegalDomicileStateCd |
| Activity Or Mission | TO RAISE FUNDS AND SUPPORT THE FUNCTIONS OF AND CARRY OUT THE PURPOSES OF EXCEL ACADEMY CHARTER SCHOOL AND EXCEL ACADEMY RHODE ISLAND; TO ENGAGE IN ACTIVITIES AND PERFORM FUNCTIONS THAT THE SCHOOLS WOULD OTHERWISE HAVE TO PERFORM; TO OWN, LEASE AND MAINTAIN THE SITES AT WHICH THE SCHOOLS ARE LOCATED AND TO OTHERWISE BENEFIT THE SCHOOLS THROUGH PROVISION OF FINANCIAL SUPPORT AND SERVICES. | ActivityOrMissionDesc |
| Voting Members Governing Body | 5 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 5 | VotingMembersIndependentCnt |
| Total Employee | 30 | TotalEmployeeCnt |
| Total Volunteers | 5 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $5,354,597 | PYContributionsGrantsAmt |
| CY Contributions Grants | $8,212,165 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $2,450,315 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $5,769,485 | CYProgramServiceRevenueAmt |
| PY Investment Income | $176,421 | PYInvestmentIncomeAmt |
| CY Investment Income | $419,303 | CYInvestmentIncomeAmt |
| PY Other Revenue | $2,970 | PYOtherRevenueAmt |
| CY Other Revenue | -$66,104 | CYOtherRevenueAmt |
| PY Total Revenue | $7,984,303 | PYTotalRevenueAmt |
| CY Total Revenue | $14,334,849 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $384,875 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $1,795,990 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $0 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $3,854,718 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $336,598 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $3,916,121 | PYOtherExpensesAmt |
| CY Other Expenses | $3,248,166 | CYOtherExpensesAmt |
| PY Total Expenses | $4,300,996 | PYTotalExpensesAmt |
| CY Total Expenses | $8,898,874 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $3,683,307 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $5,435,975 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $82,712,473 | TotalAssetsBOYAmt |
| Total Assets EOY | $49,738,891 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $62,409,208 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $28,395,179 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $20,303,265 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $21,343,712 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | TO RAISE FUNDS AND SUPPORT THE FUNCTIONS OF AND CARRY OUT THE PURPOSES OF EXCEL ACADEMY CHARTER SCHOOL AND EXCEL ACADEMY RHODE ISLAND; TO ENGAGE IN ACTIVITIES AND PERFORM FUNCTIONS THAT THE SCHOOLS WOULD OTHERWISE HAVE TO PERFORM; TO OWN, LEASE AND MAINTAIN THE SITES AT WHICH THE SCHOOLS ARE LOCATED AND TO OTHERWISE BENEFIT THE SCHOOLS THROUGH PROVISION OF FINANCIAL SUPPORT AND SERVICES. | MissionDesc |
| Significant New Program Srvc | Yes (1) | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $6,964,371 | ExpenseAmt |
| Grant | $1,795,990 | GrantAmt |
| Revenue | $5,826,564 | RevenueAmt |
| Desc | AS OF FISCAL YEAR 2023, FRIENDS OF EXCEL ACADEMY CHARTER SCHOOLS, INC. RAISES FUNDS AND SUPPORTS THE FUNCTIONS OF EXCEL ACADEMY RHODE ISLAND IN ADDITION TO EXCEL ACADEMY CHARTER SCHOOL. EXCEL ACADEMY RHODE ISLAND IS A RELATED NOT-FOR-PROFIT ORGANIZATION THAT RECEIVED A FINAL APPROVAL OF ITS CHARTER IN MAY 2021 AND OPENED AND OPERATED A SCHOOL IN RHODE ISLAND DURING FISCAL YEAR 2023. | Desc |
| Total Program Service Expenses | $6,964,371 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | Yes (1) | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (1) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | Yes (1) | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | 0 | ScheduleJRequiredInd |
| Tax Exempt Bonds | Yes (1) | TaxExemptBondsInd |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBondsInd |
| Escrow Account | 0 | EscrowAccountInd |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuerInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | Yes (1) | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 44 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 30 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | Yes (1) | QuidProQuoContributionsInd |
| Quid Pro Quo Contri Discl | Yes (1) | QuidProQuoContriDisclInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 5 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 5 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | 0 | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | MA | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | ANDREW M SOLOMON | PersonNm |
| Phone | 6178744080 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 58 MOORE STREET | AddressLine1Txt |
| City | EAST BOSTON | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02128 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (8 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|
| SETH REYNOLDS | ||||||
| PRESIDENT | 0.80 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| MEGAN PREINER | ||||||
| TREASURER | 0.80 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| DONALD CASS | ||||||
| CLERK | 0.80 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| SHIRLEY VERONICA CARDONA | ||||||
| MEMBER | 0.80 | Yes (X) | $0 | $0 | $0 | |
| CHRISTOPHER SATTI | ||||||
| MEMBER | 0.80 | Yes (X) | $0 | $0 | $0 | |
| OWEN STEARNS | ||||||
| CHIEF EXECUTIVE OFFICER | 40.00 | Yes (X) | $115,960 | $0 | $11,460 | |
| NINA KEOUGH | ||||||
| CHIEF SCHOOL OFFICER | 40.00 | Yes (X) | $105,704 | $0 | $11,511 | |
| ANDREW SOLOMON | ||||||
| CHIEF FINANCIAL OFFICER | 40.00 | Yes (X) | $77,967 | $0 | $3,870 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $299,631 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $26,841 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 2 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | 0 | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp
Contractor Name ContractorName
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CASE CONSTRUCTION COMPANY | BusinessNameLine1Txt |
Contractor Address ContractorAddress
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 225 WAMPANOAG TRAIL | AddressLine1Txt |
| City | EAST PROVIDENCE | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02915 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Services | CONSTRUCTION SERVICES | ServicesDesc |
| Compensation | $1,158,218 | CompensationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 1 | CntrctRcvdGreaterThan100KCnt |
| Fundraising | $27,497 | FundraisingAmt |
| Government Grants | $279,611 | GovernmentGrantsAmt |
| All Other Contributions | $7,905,057 | AllOtherContributionsAmt |
| Noncash Contributions | $52,988 | NoncashContributionsAmt |
| Total Contributions | $8,212,165 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| MANAGEMENT FEE | 561000 | $4,830,815 | $4,830,815 |
| CAPITAL LEASE INTEREST | 900099 | $794,150 | $794,150 |
| RENTAL INCOME | 532289 | $144,520 | $144,520 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $5,769,485 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $419,303 | TotalRevenueColumnAmt |
| Exclusion | $419,303 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fundraising Gross Income | $14,856 | FundraisingGrossIncomeAmt |
| Contri Rpt Fundraising Event | $27,497 | ContriRptFundraisingEventAmt |
| Fundraising Direct Expenses | $138,039 | FundraisingDirectExpensesAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$123,183 | TotalRevenueColumnAmt |
| Exclusion | -$123,183 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MISCELLANEOUS | Desc |
| Business | 900099 | BusinessCd |
| Total Revenue Column | $57,079 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $57,079 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $57,079 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $14,334,849 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $5,826,564 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $296,120 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,788,590 | TotalAmt |
| Program Services | $1,788,590 | ProgramServicesAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,400 | TotalAmt |
| Program Services | $7,400 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $724,417 | TotalAmt |
| Program Services | $349,952 | ProgramServicesAmt |
| Management And General | $227,896 | ManagementAndGeneralAmt |
| Fundraising | $146,569 | FundraisingAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,636,409 | TotalAmt |
| Program Services | $2,255,443 | ProgramServicesAmt |
| Management And General | $243,305 | ManagementAndGeneralAmt |
| Fundraising | $137,661 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $259,451 | TotalAmt |
| Program Services | $200,652 | ProgramServicesAmt |
| Management And General | $38,282 | ManagementAndGeneralAmt |
| Fundraising | $20,517 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $234,441 | TotalAmt |
| Program Services | $182,788 | ProgramServicesAmt |
| Management And General | $32,344 | ManagementAndGeneralAmt |
| Fundraising | $19,309 | FundraisingAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $114,579 | TotalAmt |
| Management And General | $114,579 | ManagementAndGeneralAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $81,000 | TotalAmt |
| Program Services | $81,000 | ProgramServicesAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $994,968 | TotalAmt |
| Program Services | $354,402 | ProgramServicesAmt |
| Management And General | $640,566 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $185,813 | TotalAmt |
| Program Services | $118,755 | ProgramServicesAmt |
| Management And General | $67,058 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $22,632 | TotalAmt |
| Program Services | $17,783 | ProgramServicesAmt |
| Management And General | $4,849 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $72,047 | TotalAmt |
| Program Services | $27,682 | ProgramServicesAmt |
| Management And General | $43,465 | ManagementAndGeneralAmt |
| Fundraising | $900 | FundraisingAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $35,161 | TotalAmt |
| Management And General | $35,161 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $52,758 | TotalAmt |
| Program Services | $39,578 | ProgramServicesAmt |
| Management And General | $8,227 | ManagementAndGeneralAmt |
| Fundraising | $4,953 | FundraisingAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,033,183 | TotalAmt |
| Program Services | $1,033,183 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $161,427 | TotalAmt |
| Program Services | $161,427 | ProgramServicesAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $97,626 | TotalAmt |
| Management And General | $97,626 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt | FundraisingFundraisingAmt |
|---|---|---|---|---|
| STAFF RECRUITMENT | $165,151 | $150,287 | $14,864 | |
| STUDENT COSTS | $94,897 | $91,989 | $2,908 | |
| STAFF DEVELOPMENT | $92,652 | $86,378 | $3,912 | $2,362 |
| MISCELLANEOUS | $43,272 | $17,082 | $22,863 | $3,327 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,000 | TotalAmt |
| Fundraising | $1,000 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,898,874 | TotalAmt |
| Program Services | $6,964,371 | ProgramServicesAmt |
| Management And General | $1,597,905 | ManagementAndGeneralAmt |
| Fundraising | $336,598 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,026,168 | BOYAmt |
| EOY | $410,354 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,502,482 | BOYAmt |
| EOY | $10,339,912 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $933,803 | BOYAmt |
| EOY | $75,469 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $762,532 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $450,000 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $90,237 | BOYAmt |
| EOY | $107,099 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $4,330,162 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $161,427 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $42,226,507 | BOYAmt |
| EOY | $4,168,735 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $31,933,276 | BOYAmt |
| EOY | $33,424,790 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $82,712,473 | BOYAmt |
| EOY | $49,738,891 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $615,618 | BOYAmt |
| EOY | $374,074 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $110,000 | BOYAmt |
| EOY | $0 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,924,552 | BOYAmt |
| EOY | $24,124,783 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,688,569 | BOYAmt |
| EOY | $3,547,344 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $33,070,469 | BOYAmt |
| EOY | $348,978 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $62,409,208 | BOYAmt |
| EOY | $28,395,179 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,315,965 | BOYAmt |
| EOY | $12,907,633 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,987,300 | BOYAmt |
| EOY | $8,436,079 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $20,303,265 | BOYAmt |
| EOY | $21,343,712 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $82,712,473 | BOYAmt |
| EOY | $49,738,891 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $5,435,975 | ReconcilationRevenueExpnssAmt |
| Prior Period Adjustments | -$4,149,584 | PriorPeriodAdjustmentsAmt |
| Other Changes In Net Assets | -$245,944 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Organization170 | Yes (X) | PublicOrganization170Ind |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $3,991,374 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $957,448 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $1,747,774 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $5,354,597 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $8,212,165 | CurrentTaxYearAmt |
| Total | $20,263,358 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $3,991,374 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $957,448 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $1,747,774 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $5,354,597 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $8,212,165 | CurrentTaxYearAmt |
| Total | $20,263,358 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantial Contributors Tot | $2,438,444 | SubstantialContributorsTotAmt |
| Public Support Total170 | $17,824,914 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $429,907 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $740,566 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $182,590 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $176,421 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $419,303 | CurrentTaxYearAmt |
| Total | $1,948,787 | TotalAmt |
Other Income170 OtherIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $3,497 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus2 Years | $220,822 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $2,970 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $57,079 | CurrentTaxYearAmt |
| Total | $284,368 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $22,496,513 | TotalSupportAmt |
| Gross Receipts Rltd Activities | $10,711,383 | GrossReceiptsRltdActivitiesAmt |
| Public Support CY170 | 0.79230 | PublicSupportCY170Pct |
| Public Support PY170 | 0.63730 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: | FormAndLineReferenceDesc |
| Explanation | MISCELLANEOUS INCOME - 2018 AMOUNT: $ 3,497. 2020 AMOUNT: $ 220,822. 2021 AMOUNT: $ 2,970. 2022 AMOUNT: $ 57,079. | ExplanationTxt |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Volunteers | 0 | VolunteersInd |
| Paid Staff Or Management | 0 | PaidStaffOrManagementInd |
| Media Advertisements | 0 | MediaAdvertisementsInd |
| Mailings Members | 0 | MailingsMembersInd |
| Publications Or Broadcast | 0 | PublicationsOrBroadcastInd |
| Grants Other Organizations | 0 | GrantsOtherOrganizationsInd |
| Direct Contact Legislators | Yes (1) | DirectContactLegislatorsInd |
| Direct Contact Legislators | $81,000 | DirectContactLegislatorsAmt |
| Rallies Demonstrations | 0 | RalliesDemonstrationsInd |
| Other Activities | 0 | OtherActivitiesInd |
| Total Lobbying Expenditures | $81,000 | TotalLobbyingExpendituresAmt |
| Not Described Section501c3 | 0 | NotDescribedSection501c3Ind |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART II-B, LINE 1: | FormAndLineReferenceDesc |
| Explanation | PAYMENTS TO LOBBYING FIRMS. | ExplanationTxt |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $172,695 | OtherCostOrOtherBasisAmt |
| Book Value | $172,695 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,692,343 | OtherCostOrOtherBasisAmt |
| Depreciation | $92,848 | DepreciationAmt |
| Book Value | $3,599,495 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $450,124 | OtherCostOrOtherBasisAmt |
| Depreciation | $68,579 | DepreciationAmt |
| Book Value | $381,545 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $15,000 | OtherCostOrOtherBasisAmt |
| Book Value | $15,000 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $4,168,735 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | INVESTMENT IN LEASE | Desc |
| Book Value | $33,424,790 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $33,424,790 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | DUE TO EXCEL ACADEMY CHARTER SCHOOL | Desc |
| Amt | $348,978 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $348,978 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $14,226,944 | TotalRevEtcAuditedFinclStmtAmt |
| Other Revenue | -$245,944 | OtherRevenueAmt |
| Revenue Not Reported | -$245,944 | RevenueNotReportedAmt |
| Revenue Subtotal | $14,472,888 | RevenueSubtotalAmt |
| Other Revenues Not Included | -$138,039 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | -$138,039 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $14,334,849 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $9,036,913 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $138,039 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $138,039 | ExpensesNotReportedAmt |
| Expenses Subtotal | $8,898,874 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $8,898,874 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | THE FOUNDATION ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ACCOUNTING STANDARDS CODIFICATION (ASC) TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE FOUNDATION HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS AT JUNE 30, 2023. HOWEVER, THE INFORMATIONAL RETURNS FOR THE FOUNDATION ARE SUBJECT TO EXAMINATION BY THE APPROPRIATE JURISDICTIONS. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | LOSS ON WRITE-OFF OF CONSTRUCTION IN PROCESS -34,200. FACILITY SEARCH AND DEVELOPMENT COSTS -211,744. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | SPECIAL EVENT EXPENSES -138,039. |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | SPECIAL EVENT EXPENSES 138,039. |
Schedule G IRS990ScheduleG
Fundraising Event Information FundraisingEventInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Event1 | CELEBRATION OF EXCELLENCE | Event1Nm |
| Gross Receipts Event1 | $42,353 | GrossReceiptsEvent1Amt |
| Charitable Contri Event1 | $27,497 | CharitableContriEvent1Amt |
| Gross Revenue Event1 | $14,856 | GrossRevenueEvent1Amt |
| Rent Facility Costs Event1 | $70,941 | RentFacilityCostsEvent1Amt |
| Food And Beverage Event1 | $55,389 | FoodAndBeverageEvent1Amt |
| Other Direct Expenses Event1 | $11,709 | OtherDirectExpensesEvent1Amt |
| Gross Receipts Total | $42,353 | GrossReceiptsTotalAmt |
| Charitable Contributions Tot | $27,497 | CharitableContributionsTotAmt |
| Gross Revenue Total Events | $14,856 | GrossRevenueTotalEventsAmt |
| Rent Fclty Costs Total Events | $70,941 | RentFcltyCostsTotalEventsAmt |
| Food And Beverage Total Events | $55,389 | FoodAndBeverageTotalEventsAmt |
| Oth Direct Expnss Total Events | $11,709 | OthDirectExpnssTotalEventsAmt |
| Direct Expense Summary Events | $138,039 | DirectExpenseSummaryEventsAmt |
| Net Income Summary | -$123,183 | NetIncomeSummaryAmt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (3 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|
| EXCEL ACADEMY RHODE ISLAND | ||||||||
| 622 WOONASQUATUCKET AVE | NORTH PROVIDENCE | RI | 02911 | 874129135 | 170(B)(1)(A)(II) | $1,349,965 | $0 | TO SUPPORT THE FUNCTIONS OF EXCEL ACADEMY RHODE ISLAND |
| NEXTGEN TALENT INC | ||||||||
| 4 BUTLER STREET | DORCHESTER | MA | 02124 | 881672567 | 170(B)(1)(A)(VI) | $170,440 | $0 | TO SUPPORT THE FUNCTIONS OF NEXTGEN TALENT, INC. |
| EXCEL ACADEMY CHARTER SCHOOL | ||||||||
| 58 MOORE STREET | EAST BOSTON | MA | 02128 | 432002251 | 170(B)(1)(A)(II) | $268,185 | $0 | TO SUPPORT THE FUNCTIONS OF EXCEL ACADEMY CHARTER SCHOOL. |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 3 | Total501c3OrgCnt |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | SCHOLARSHIP GRANTS | GrantTypeTxt |
| Recipient | 27 | RecipientCnt |
| Cash Grant | $7,400 | CashGrantAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE BOARD OF TRUSTEES APPROVE GRANT AWARDS TO THE SCHOOLS. FOR DIRECT GRANTS TO STUDENTS AND ALUMNI (SCHOLARSHIPS) AND GRANTS TO THE FAMILIES OF STUDENTS AND ALUMNI (SUCH AS FOR COVID-19 RELIEF), THE FOUNDATION HAS DEVELOPED SYSTEMS FOR IDENTIFYING GRANT CANDIDATES BASED ON ESTABLISHED CRITERIA THAT ARE THEN ADMINISTERED BY DESIGNATED TEAMS OF STAFF AT THE SCHOOLS. THESE PROCEDURES ARE OVERSEEN BY THE SCHOOL'S FINANCE TEAM FOR ADHERENCE TO CONTROLS AND PURPOSE RESTRICTIONS. | ExplanationTxt |
Schedule K IRS990ScheduleK
Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp (2 entries)
| Bond ReferenceBondReferenceCd | Bond Issuer EINBondIssuerEIN | Bond IssuedBondIssuedDt | Issue PriceIssuePriceAmt | PurposePurposeDesc | DefeasedDefeasedInd | On Behalf Of IssuerOnBehalfOfIssuerInd | Pool FinancingPoolFinancingInd |
|---|---|---|---|---|---|---|---|
| MDFA SERIES 2015 REVENUE BONDS | |||||||
| A | 043431814 | 2015-04-30 | $16,500,000 | TO FUND CAPITAL PROJECTS | 0 | 0 | 0 |
| MDFA SERIES 2019 REVENUE BONDS | |||||||
| B | 043431814 | 2019-10-31 | $12,000,000 | TO FUND CAPITAL PROJECTS | 0 | 0 | 0 |
Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp (2 entries)
| Bond ReferenceBondReferenceCd | RetiredRetiredAmt | Total ProceedsTotalProceedsAmt | Issuance Costs From ProceedsIssuanceCostsFromProceedsAmt | Capital ExpendituresCapitalExpendituresAmt | Substantial CompletionSubstantialCompletionYr | Refunding Tax Exempt BondsRefundingTaxExemptBondsInd | Refunding Taxable BondsRefundingTaxableBondsInd | Final Allocation MadeFinalAllocationMadeInd | Adequate Books And Rec MaintAdequateBooksAndRecMaintInd | Other Spent ProceedsOtherSpentProceedsAmt |
|---|---|---|---|---|---|---|---|---|---|---|
| A | $3,277,786 | $16,500,000 | $471,026 | $16,028,974 | 2016 | 0 | 0 | Yes (1) | Yes (1) | |
| B | $1,097,431 | $12,000,000 | $15,485 | $8,036,741 | 2021 | Yes (1) | 0 | 0 | 0 | $3,947,774 |
Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp (2 entries)
| Bond ReferenceBondReferenceCd | Owning Bond Financed PropertyOwningBondFinancedPropertyInd | Any Lease ArrangementsAnyLeaseArrangementsInd | Mgmt Contract Bond Fincd PropMgmtContractBondFincdPropInd | Any Research AgreementsAnyResearchAgreementsInd | Bond Iss Meet Prvt Sec Pymt TestBondIssMeetPrvtSecPymtTestInd | Change In Use Bond Financed PropChangeInUseBondFinancedPropInd | Procs Nonqualified Bond RemdtdProcsNonqualifiedBondRemdtdInd |
|---|---|---|---|---|---|---|---|
| A | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| B | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp (2 entries)
| Bond ReferenceBondReferenceCd | Form8038 T FiledForm8038TFiledInd | Rebate Not Due YetRebateNotDueYetInd | Exception To RebateExceptionToRebateInd | No Rebate DueNoRebateDueInd | Variable Rate IssueVariableRateIssueInd | Hedge Identified In Bks And RecHedgeIdentifiedInBksAndRecInd | Gross Proceeds Invested In GICGrossProceedsInvestedInGICInd | Gross Proceeds InvestedGrossProceedsInvestedInd | Written Proc To Monitor ReqsWrittenProcToMonitorReqsInd |
|---|---|---|---|---|---|---|---|---|---|
| A | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Procedures Corrective Action ProceduresCorrectiveActionGrp (2 entries)
| Bond ReferenceBondReferenceCd | Procedures Corrective ActionProceduresCorrectiveActionInd |
|---|---|
| A | Yes (1) |
| B | Yes (1) |
Schedule M IRS990ScheduleM
Securities Publicly Traded SecuritiesPubliclyTradedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 1 | ContributionCnt |
| Noncash Contributions Rpt F990 | $52,988 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | FMV | MethodOfDeterminingRevenuesTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeldInd |
| Review Process Unusual NC Gifts | 0 | ReviewProcessUnusualNCGiftsInd |
| Third Parties Used | 0 | ThirdPartiesUsedInd |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (7 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART III, LINE 2 | PRIOR TO FISCAL YEAR 2023, FRIENDS OF EXCEL ACADEMY CHARTER SCHOOLS, INC. WAS DEEMED A COMPONENT UNIT OF EXCEL ACADEMY CHARTER SCHOOL. AS SUCH, IT PREPARED ITS FINANCIAL STATEMENTS IN ACCORDANCE WITH THE GOVERNMENTAL ACCOUNTING STANDARDS BOARD (GASB) STANDARDS. AS OF FISCAL YEAR 2023, IT IS AN INDEPENDENT ENTITY, AND IT PREPARES ITS FINANCIAL STATEMENTS IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING STANDARDS AND PRINCIPLES (U.S. GAAP) ESTABLISHED BY THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB). THIS CHANGE RESULTED IN THE FOLLOWING ADJUSTMENTS TO NET ASSETS: -NET ASSETS, BEGINNING OF YEAR, AS PREVIOUSLY REPORTED $20,303,265 -REVALUATION OF THE NET INVESTMENT IN LEASE $2,716,712 -REMOVAL OF CAPITAL ASSETS RELATED TO THE CAPITAL LEASE TREATMENT UNDER GASB $(39,235,342) -REMOVAL OF DEFERRED INFLOWS OF RESOURCES RELATED TO THE CAPITAL LEASE TREATMENT UNDER GASB $32,259,046 -DEFERRED INFLOWS OF RESOURCES RECLASSIFIED TO NET ASSETS WITH DONOR RESTRICTIONS $110,000 -TOTAL ADJUSTMENT TO NET ASSETS $(4,149,584) -NET ASSETS, BEGINNING OF YEAR, AS RESTATED $16,153,681 AS OF FISCAL YEAR 2023, FRIENDS OF EXCEL ACADEMY CHARTER SCHOOLS, INC. RAISES FUNDS AND SUPPORTS THE FUNCTIONS OF EXCEL ACADEMY RHODE ISLAND IN ADDITION TO EXCEL ACADEMY CHARTER SCHOOL. EXCEL ACADEMY RHODE ISLAND IS A RELATED NOT-FOR-PROFIT ORGANIZATION THAT RECEIVED A FINAL APPROVAL OF ITS CHARTER IN MAY 2021 AND OPENED AND OPERATED A SCHOOL IN RHODE ISLAND DURING FISCAL YEAR 2023. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990 IS MADE AVAILABLE TO ALL BOARD MEMBERS FOR REVIEW AND COMMENTS PRIOR TO FILING. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE BOARD OF DIRECTORS ANNUALLY REVIEW THE CONFLICT OF INTEREST POLICY. |
| FORM 990, PART VI, SECTION C, LINE 19 | FRIENDS OF EXCEL ACADEMY CHARTER SCHOOLS, INC. MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. |
| FORM 990, PART IX, LINE 11G | CONSULTING: PROGRAM SERVICE EXPENSES 354,402. MANAGEMENT AND GENERAL EXPENSES 640,566. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 994,968. |
| FORM 990, PART XI, LINE 9: | LOSS ON WRITE-OFF OF CONSTRUCTION IN PROCESS -34,200. FACILITY SEARCH AND DEVELOPMENT COSTS -211,744. |
| FORM 990, PART XII, LINE 2C: | THE BOARD OF DIRECTORS OVERSEES THE AUDIT OF THE FINANCIAL STATEMENTS. THIS PROCESS HAS NOT CHANGED IN FISCAL YEAR 2023. |
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