2026-05-01T12:30:28-05:00 2025-06-30 042571780 AAFCPAS INC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2024-07-01 300211613 FRIENDS OF EXCEL ACADEMY CHARTER SCHOOLS INC FRIE 6178744080 58 MOORE STREET EAST BOSTON MA 02128 SETH REYNOLDS PRESIDENT 6175611371 2026-05-01 1 1 CAITLIN LIMOGES CPA P01633588 5083669100 2026-05-01 2024 2025-03-06 01:10:19Z SETH REYNOLDS 58 MOORE STREET EAST BOSTON MA 02128 8438630 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 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. 6 6 32 6 0 0 931581 966303 6526434 6844907 665931 595676 6344 6360 8130290 8413246 1588535 1511255 0 0 3682237 4023587 0 0 253067 2865114 3355900 8135886 8890742 -5596 -477496 48903477 47237273 27740658 26915185 21162819 20322088 X 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. 0 0 6245671 1511255 6851267 TO RAISE FUNDS AND SUPPORT THE FUNCTIONS OF EXCEL ACADEMY CHARTER SCHOOL AND EXCEL ACADEMY RHODE ISLAND. 6245671 1 1 0 1 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 38 0 1 32 1 0 0 0 0 0 0 0 0 0 0 0 0 X 6 6 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X AARON STELSON 6176340472 58 MOORE STREET EAST BOSTON MA 02128 SETH REYNOLDS CHAIR 0.80 X X 0 0 0 DONALD CASS TREASURER 0.80 X X 0 0 0 CHRISTOPHER SATTI CLERK 0.80 X X 0 0 0 MEGAN PREINER TREASURER (UNTIL 9/17/24) 0.80 X X 0 0 0 TIMONTHY WELLER MEMBER 0.80 X 0 0 0 TYREE CHAMBERS MEMBER 0.80 X 0 0 0 SHIRLEY VERONICA CARDONA MEMBER 0.80 X 0 0 0 OWEN STEARNS CHIEF EXECUTIVE OFFICER 40.00 X 303012 0 5824 NINA KEOUGH CHIEF SCHOOL OFFICER 40.00 X 229817 0 24577 ANDREW SOLOMON CHIEF FINANCIAL OFFICER 40.00 X 193197 0 8482 STEPHANIE PATTON DEPUTY CHIEF SCHOOLS OFFICER 40.00 X 195945 0 137 AARON STELSON SENIOR DIRECTOR: FINANCE 40.00 X 143839 0 485 STEVIE ROBERTS MANAGING DIRECTOR: OPERATIONS 40.00 X 143768 0 2057 DARREN GRAY MANAGING DIR. ACADEMIC LEADERSHIP 40.00 X 133730 0 1815 ARTHUR KAYNOR DIRECTOR OF DEVELOPMENT & GOVERNANCE 40.00 X 118385 0 7555 TSVETELINA TSANKOVA DIRECTOR OF ACCOUNTING 40.00 X 115272 0 24526 1576965 0 75458 13 0 1 0 MOBILE MODULAR MANAGEMENT CORP PO BOX 45043 SAN FRANCISCO CA 94145 MODULAR MANAGEMENT 931180 CASE CONSTRUCTION COMPANY 225 WAMPANOAG TRAIL EAST PROVIDENCE MA 02915 CONSTRUCTION SERVICES 398322 AAFCPAS INC 50 WASHINGTON STREET WESTBOROUGH MA 01581 ACCOUNTING SERVICES 120513 3 3203 963100 966303 MANAGEMENT FEE 561000 5464256 5464256 CAPITAL LEASE INTEREST 900099 749050 749050 RENTAL INCOME 532289 631601 631601 6844907 621060 621060 25384 -25384 -25384 -25384 MISCELLANEOUS 900099 6360 6360 6360 8413246 6851267 0 595676 1504205 1504205 7050 7050 976494 575939 244290 156265 2520917 1618938 846426 55553 232386 135299 82701 14386 293790 180283 95000 18507 108418 108418 202486 202486 117000 117000 475578 101797 373781 221277 172440 48837 36306 25938 10368 66767 9691 56601 475 216242 106749 109493 25741 16006 8157 1578 968434 968434 316187 316187 144607 144607 STUDENT COSTS 185950 184223 1727 STAFF RECRUITMENT 134817 123927 10890 STAFF DEVELOPMENT 85985 76742 7736 1507 MISCELLANEOUS 50105 4823 40486 4796 8890742 6245671 2392004 253067 366890 270508 9715647 8913800 53977 37405 775057 700604 750000 843261 102962 162170 5794117 621781 4956681 5172336 32182263 31137189 48903477 47237273 515049 446534 23300015 22448600 3398271 3239768 527323 780283 27740658 26915185 X 14082812 15140763 7080007 5181325 21162819 20322088 48903477 47237273 X -477496 -38541 -324694 X X 0 1 X 1 0 X 1747774 5354597 8212165 931581 966303 17212420 1747774 5354597 8212165 931581 966303 17212420 608574 16603846 182590 176421 419303 665931 621060 2065305 220822 2970 57079 6344 6360 293575 19571300 24089084 0.84840 0.84350 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME - 2020 AMOUNT: $ 220,822. 2021 AMOUNT: $ 2,970. 2022 AMOUNT: $ 57,079. 2023 AMOUNT: $ 6,344. 2024 AMOUNT: $ 6,360. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 117000 0 0 117000 0 PART II-B, LINE 1: FRIENDS OF EXCEL WORKS WITH A FEW GOVERNMENT RELATIONS CONTRACTORS WHO REPRESENT EXCEL AND OTHER RI MAYORAL ACADEMIES IN DISCUSSIONS WITH LEGISLATORS. FRIENDS OF EXCEL STAFF DO NOT ENGAGE DIRECTLY IN LOBBYING. 172695 172695 5149278 424240 4725038 472144 197541 274603 5172336 INVESTMENT IN LEASE 30916841 RIGHT-OF-USE-ASSET - OPERATING LEASE 220348 31137189 DUE TO EXCEL ACADEMY CHARTER SCHOOLS 482267 CONDITIONAL GRANT ADVANCE 74483 OPERATING LEASE LIABILITY 223533 780283 X 8050011 -38541 -324694 -363235 8413246 0 8413246 8890742 0 8890742 0 8890742 PART X, LINE 2: FRIENDS 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. FRIENDS HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS AT JUNE 30, 2025. HOWEVER, THE INFORMATIONAL RETURNS FOR FRIENDS ARE SUBJECT TO EXAMINATION BY THE APPROPRIATE JURISDICTIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: FACILITY SEARCH AND DEVELOPMENT COSTS -67,955. DISCOUNT ON NOTE RECEIVABLE -256,739. 1 EXCEL ACADEMY RHODE ISLAND 622 WOONASQUATUCKET AVE NORTH PROVIDENCE RI 02911 874129135 170(B)(1)(A)(II) 929431 0 TO SUPPORT THE FUNCTIONS OF EXCEL ACADEMY RHODE ISLAND EXCEL ACADEMY CHARTER SCHOOL 58 MOORE STREET EAST BOSTON MA 02128 432002251 170(B)(1)(A)(II) 574774 0 TO SUPPORT THE FUNCTIONS OF EXCEL ACADEMY CHARTER SCHOOL. 2 SCHOLARSHIP GRANTS 25 7050 PART I, LINE 2: 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, 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. X X X 0 0 0 0 0 0 0 0 0 OWEN STEARNS CHIEF EXECUTIVE OFFICER 303012 0 0 0 0 0 0 0 5824 0 308836 0 0 0 NINA KEOUGH CHIEF SCHOOL OFFICER 229617 0 200 0 0 0 0 0 24577 0 254394 0 0 0 ANDREW SOLOMON CHIEF FINANCIAL OFFICER 193197 0 0 0 0 0 0 0 8482 0 201679 0 0 0 STEPHANIE PATTON DEPUTY CHIEF SCHOOLS OFFICER 195945 0 0 0 0 0 0 0 137 0 196082 0 0 0 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 4251607 16500000 471026 16028974 2016 0 0 1 1 B 1799793 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 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 B, LINE 15 THE COMPENSATION OF THE CEO IS BASED ON BENCHMARKING THROUGH REVIEW OF 990S OF OTHER ORGANIZATIONS AND COMPENSATION SURVEYS OF OTHER ORGANIZATIONS. THE COMPENSATION OF THE CEO IS APPROVED BY THE FRIENDS OF EXCEL BOARD OF DIRECTORS. THE COMPENSATION OF OTHER OFFICERS OR KEY EMPLOYEES ARE DETERMINED IN THE SAME WAY AS THE COMPENSATION OF THE CEO. 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 XI, LINE 9: FACILITY SEARCH AND DEVELOPMENT COSTS -67,955. DISCOUNT ON NOTE RECEIVABLE -256,739. 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 2025.