2022-05-06T14:10:34-05:00 2021-06-30 042571780 AAFCPAS INC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2020-07-01 300211613 FRIENDS OF EXCEL ACADEMY CHARTER SCHOOLS INC FRIE 6175611371 58 MOORE STREET EAST BOSTON MA 02128 SETH REYNOLDS PRESIDENT 6175611371 2022-05-03 1 SETH REYNOLDS XXX-XX-XXXX JOHN BUCKLEY CPA P00830631 5083669100 2022-05-03 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z SETH REYNOLDS 58 MOORE STREET EAST BOSTON MA 02128 4642769 0 X N/A X 2004 MA TO RAISE FUNDS AND SUPPORT THE FUNCTIONS OF AND CARRY OUT THE PURPOSES OF EXCEL ACADEMY CHARTER SCHOOL; TO ENGAGE IN ACTIVITIES AND PERFORM FUNCTIONS THAT THE SCHOOL WOULD OTHERWISE HAVE TO PERFORM; TO OWN, LEASE AND MAINTAIN THE SITES AT WHICH THE SCHOOL IS LOCATED; AND TO OTHERWISE BENEFIT THE SCHOOL THROUGH PROVISION OF FINANCIAL SUPPORT AND SERVICES. 4 4 0 6 0 0 957448 1747774 0 2491583 740566 182590 0 220822 1698014 4642769 304426 750128 0 0 0 0 0 0 15625 1328298 2870464 1632724 3620592 65290 1022177 45775555 81174432 29174235 64454474 16601320 16719958 X TO RAISE FUNDS AND SUPPORT THE FUNCTIONS OF AND CARRY OUT THE PURPOSES OF EXCEL ACADEMY CHARTER SCHOOL; TO ENGAGE IN ACTIVITIES AND PERFORM FUNCTIONS THAT THE SCHOOL WOULD OTHERWISE HAVE TO PERFORM; TO OWN, LEASE AND MAINTAIN THE SITES AT WHICH THE SCHOOL IS LOCATED; AND TO OTHERWISE BENEFIT THE SCHOOL THROUGH PROVISION OF FINANCIAL SUPPORT AND SERVICES. 0 0 3351485 750128 2712405 TO RAISE FUNDS AND SUPPORT THE FUNCTIONS OF EXCEL ACADEMY CHARTER SCHOOL 3351485 1 1 0 1 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 15 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 4 4 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MA X ANDREW M SOLOMON 6178744096 58 MOORE STREET EAST BOSTON MA 02128 X SETH REYNOLDS PRESIDENT 0.80 1.80 X X 0 0 0 MEGAN PREINER TREASURER 0.80 1.80 X X 0 0 0 MARY ELISABETH SWERZ CLERK (LEFT ON 9/22/2020) 0.80 1.80 X X 0 0 0 DOUGLAS CHOPE MEMBER 0.80 1.00 X 0 0 0 TUCKER LEVY MEMBER (LEFT ON 9/22/2020) 0.80 1.80 X 0 0 0 PETER FISHER MEMBER/ CLERK (AS OF 9/22/2020) 0.80 1.80 X X 0 0 0 0 0 0 0 0 0 0 WT RICH COMPANY 29 CRAFTS STREET SUITE 300 NEWTON MA 02458 CONSTRUCTION SERVICES 8315268 STUDIO G ARCHITECTS 179 BOYLSTON STREET P JAMAICA PLAIN MA 02130 DESIGN SERVICES 209077 STVDPM 300 WASHINGTON ST NEWTON MA 02458 PROJECT MANAGEMENT 118603 3 1747774 104536 1747774 RENTAL INCOME 532289 1251852 1251852 INTERCOMPANY INTEREST 900099 1239731 1239731 2491583 182590 182590 MISCELLANEOUS 900099 220822 220822 220822 4642769 2712405 0 182590 X 346200 346200 403928 403928 47023 26290 20733 22624 22624 62580 62580 553947 353947 200000 1060695 1060695 1054318 1054318 MISCELLANEOUS 50768 34347 796 15625 STAFF CULTURE EXPENSE 9180 9180 BANK CHARGES 4978 4978 FEES 4351 4351 3620592 3351485 253482 15625 926193 525951 6255925 6044212 850921 246920 12500 45346098 4935647 6055763 40410451 31686753 33934398 45775555 81174432 2071344 137968 70000 10000 21835224 25698477 5197667 4821862 0 33786167 29174235 64454474 X 13536287 16355045 3065033 364913 16601320 16719958 45775555 81174432 X 1022177 -963539 60000 X X 0 1 X 1 0 X 1878863 1618631 3991374 957448 1747774 10194090 1878863 1618631 3991374 957448 1747774 10194090 4018597 6175493 324790 339522 429907 740566 182590 2017375 1454 12858 3497 220822 238631 12450096 2491583 0.49600 0.44430 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME - 2016 AMOUNT: $ 1,454. 2017 AMOUNT: $ 12,858. 2018 AMOUNT: $ 3,497. 2020 AMOUNT: $ 220,822. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 62580 0 0 62580 0 PART II-B, LINE 1: PAYMENTS TO LOBBYING FIRMS. 3246716 3246716 41009530 4263744 36745786 1089852 671903 417949 40410451 INTERCOMPANY LEASES RECEIVABLE 33838398 DEPOSITS 96000 33934398 DUE TO EXCEL ACADEMY CHARTER SCHOOL 275027 DEFERRED INFLOW OF RESOURCES 33511140 33786167 X 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 COMBINED GENERAL PURPOSE 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 COMBINED GENERAL PURPOSE FINANCIAL STATEMENTS AT JUNE 30, 2021. HOWEVER, THE INFORMATIONAL RETURNS FOR THE FOUNDATION ARE SUBJECT TO EXAMINATION BY THE APPROPRIATE JURISDICTIONS. 1 EXCEL ACADEMY CHARTER SCHOOL 58 MOORE STREET EAST BOSTON MA 02128 432002251 170(B)(1)(A)(II) 346200 TO SUPPORT THE FUNCTIONS OF EXCEL ACADEMY CHARTER SCHOOL. 1 SCHOLARSHIP GRANTS 22 23057 COVID FAMILY SUPPORTS 482 193744 COVID STUDENT SUPPORTS 366 187127 PART I, LINE 2: THE BOARD OF TRUSTEES APPROVE GRANT AWARDS TO THE SCHOOL. 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 SCHOOL. THESE PROCEDURES ARE OVERSEEN BY THE SCHOOL'S FINANCE TEAM FOR ADHERENCE TO CONTROLS AND PURPOSE RESTRICTIONS A MDFA SERIES 2015 REVENUE BONDS 043431814 2015-04-30 16500000 TO FUND CAPITAL PROJECTS 0 0 0 B MDFA SERIES 2019 REVENUE BONDS 043431814 2019-10-31 12000000 TO FUND CAPITAL PROJECTS 0 0 0 A 2360617 16500000 471026 16028974 2016 0 0 1 1 B 440906 12000000 15485 8036741 3947774 2021 1 0 0 0 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 A 1 B 1 X 1 96057 FMV X MONITORS 1 8479 FMV 0 0 0 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 353,947. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 353,947. NETWORK SUPPORT MANAGEMENT FEE: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 200,000. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 200,000. FORM 990, PART XI, LINE 9: DEFERRED INFLOWS OF RESOURCES - DEFERRED REVENUE 60,000. 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 2021.