Codman Academy Foundation
- Assets
- $21.2m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Dorchester, MA
- Founding
- 10/2001
- Data as of
- 06/2022
- EIN
- 04-3559945
Organization Overview
Codman Academy Foundation is located in Dorchester, MA. The organization was established in 2001. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Codman Academy Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Codman Academy Foundation generated $1.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $1.1m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE MISSION OF CODMAN ACADEMY CHARTER PUBLIC SCHOOL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE THE FINANCIAL WELL-BEING OF THE CODMAN ACADEMY CHARTER PUBLIC SCHOOL AND TO SUPPORT VARIOUS STUDENT ENRICHMENT ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thabiti Brown Director | Trustee | 1 | $0 |
James Dillon President | OfficerTrustee | 1 | $0 |
Jonathan Stephens Treasurer | OfficerTrustee | 1 | $0 |
Mbakwe Okafor Vice President | OfficerTrustee | 1 | $0 |
Bill Triant Clerk | OfficerTrustee | 1 | $0 |
Anne Sanderson Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,149,397 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,149,397 |
| Total Program Service Revenue | $0 |
| Investment income | $163,209 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,312,606 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $504,339 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,135 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $246,571 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $139,728 |
| Insurance | $0 |
| All other expenses | $176,791 |
| Total functional expenses | $1,078,564 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $96,788 |
| Savings and temporary cash investments | $2,743,167 |
| Pledges and grants receivable | $205,450 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,374,380 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,420 |
| Net Land, buildings, and equipment | $3,173,890 |
| Investments—publicly traded securities | $2,538,146 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,039,396 |
| Total assets | $21,175,637 |
| Accounts payable and accrued expenses | $510 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,900,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,331,441 |
| Total liabilities | $11,231,951 |
| Net assets without donor restrictions | $8,941,354 |
| Net assets with donor restrictions | $1,002,332 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $21,175,637 |
Grants Awarded
Over the last fiscal year, Codman Academy Foundation has awarded $860,030 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CODMAN ACADEMY CHARTER PUBLIC SCHOOL PURPOSE: TO ENHANCE THE EDUCATIONAL PROGRAM OF CODMAN ACADEMY CHARTER PUBLIC SCHOOL | $500,000 |
CODMAN ACADEMY REALTY CORP PURPOSE: TO SUPPORT THE CODMAN ACADEMY REALTY CORP | $360,030 |