Lake Wales Charter Schools Foundation Inc
- Assets
- $1.8m
- Revenue
- $393.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Lake Wales, FL
- Founding
- 03/2005
- Data as of
- 06/2021
- EIN
- 11-3735254
Organization Overview
Lake Wales Charter Schools Foundation Inc is located in Lake Wales, FL. The organization was established in 2005. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, 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. Lake Wales Charter Schools Foundation Inc 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 06/2021, Lake Wales Charter Schools Foundation Inc generated $393.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (22.0%) each year. All expenses for the organization totaled $701.3k during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Lake Wales Charter Schools Foundation Inc has awarded 49 individual grants totaling $7,834,002. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORTING ORGANIZATION FOR LAKE WALES CHARTER SCHOOLS, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORTED SIX CHARTER SCHOOLS IN LAKE WALES, FL
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jesse Jackson Superintende | OfficerTrustee | 5 | $0 |
Marie Cherrington-Gray Secretary | OfficerTrustee | 5 | $0 |
James Tully Chairman | OfficerTrustee | 10 | $0 |
Andy Oguntola Vice Chair | OfficerTrustee | 5 | $0 |
Alricky Smith Treasurer | Officer | 5 | $0 |
David Fisher Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $356,334 |
| Investment income | $30,831 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $6,271 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $393,436 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $20,163 |
| 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 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 | $0 |
| 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 | $1,942 |
| Advertising and promotion | $0 |
| Office expenses | $151 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $701,283 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,928 |
| Savings and temporary cash investments | $1,481,999 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $104,994 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,758,278 |
| Accounts payable and accrued expenses | $3,947 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $246,278 |
| Total liabilities | $250,225 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $1,508,053 |
Grants Awarded
Over the last fiscal year, Lake Wales Charter Schools Foundation Inc has awarded $670,516 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Lake Wales, FL PURPOSE: SUPPORT | $486,938 |
Lake Wales, FL PURPOSE: SUPPORT | $119,011 |
Lake Wales, FL | | $23,526 |
Lake Wales, FL PURPOSE: SUPPORT | $20,842 |
Lake Wales, FL PURPOSE: SUPPORT | $14,729 |
Lake Wales, FL | | $5,470 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Lake Wales Charter Schools Foundation Inc has recieved totaling $97,905.
| Awarding Organization | Amount |
|---|---|
Mccance Foundation Tr North Scituate, MA PURPOSE: GENERAL SUPPORT | $50,000 |
Mountain Lake Community Service Inc Lake Wales, FL PURPOSE: Charitable support | $35,000 |
Raymond James Charitable Endowment Fund St Petersberg, FL PURPOSE: GENERAL SUPPORT | $10,500 |
John Oster Family Foundation Inc Milwaukee, WI PURPOSE: EDUCATION | $1,000 |
Julien L Mccall Family Foundation Pepper Pike, OH PURPOSE: CHARITABLE | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $405 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Southwest Charter Foundation Inc Fort Lauderdale, FL | $116,504,611 | $61,802,178 |
Advantage Academy Of Hillsborough Inc Coral Springs, FL | $185,732,767 | $61,697,931 |
Doral Academy Inc Miami, FL | $78,216,564 | $49,667,670 |
Lake Wales Charter Schools Lake Wales, FL | $35,506,108 | $45,984,784 |
Drew Charter School Inc Atlanta, GA | $34,692,137 | $41,952,542 |
River City Education Services Jacksonville, FL | $97,321,758 | $40,759,077 |
Georgia Connections Academy Charter School Inc Duluth, GA | $22,514,475 | $38,349,918 |
Mater Academy Central Inc Kissimmee, FL | $56,599,415 | $27,041,064 |
Kindezi School Inc Atlanta, GA | $19,750,427 | $21,363,051 |
Discovery Education Services Inc Orlando, FL | $22,168,948 | $29,305,548 |
Floridians For Quality Virtual Education Inc Tampa, FL | $7,270,958 | $27,629,122 |
Slam Florida Inc Miami, FL | $54,805,051 | $25,153,035 |