Foundation Academy Charter School
- Assets
- $21.4m
- Revenue
- $23.6m
- Investments
- $0.0
- Employees
- 185
- Location
- Trenton, NJ
- Founding
- 08/2007
- Data as of
- 06/2023
- EIN
- 20-4406909
Organization Overview
Foundation Academy Charter School is located in Trenton, NJ. The organization was established in 2007. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2023, Foundation Academy Charter School employed 185 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation Academy Charter School 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 06/2023, Foundation Academy Charter School generated $23.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $22.0m during the year ending 06/2023. While expenses have increased by 5.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
AS A COLLEGE-PREPARATORY SCHOOL, FOUNDATION ACADEMY CHARTER SCHOOLS MISSION IS TO ENSURE THAT ALL OF THEIR STUDENTS SECURE THE ACADEMIC KNOWLEDGE AND SKILLS TO PREPARE THEM FOR THE NATIONS FINEST COLLEGES, AND TO INSTILL IN THEM THE CORE VALUES OF CARING, RESPECT, RESPONSIBILITY AND HONESTY. FOUNDATION ACADEMY CHARTER SCHOOLS PROGRAM IS MODELED AFTER SOME OF THE HIGHEST PERFORMING URBAN CHARTER SCHOOLS IN THE COUNTRY, AND INCLUDES STANDARDIZED CLASSROOM PROCEDURES, REGULAR TESTING TO TRACK STUDENT PROGRESS, MORE TIME ON TASK, A FOCUS ON VALUES AND BUILDING COMMUNITY, CLEAR AND INNOVATIVE REWARDS AND CONSEQUENCES DESIGNED TO TEACH AND EMPHASIZE POSITIVE ACADEMIC AND SOCIAL BEHAVIOR, SCHOOL UNIFORMS, 90-120 MINUTES OF HOMEWORK EACH NIGHT, AND AN OVERALL RIGOROUS ACADEMIC PROGRAM. FOUNDATION ACADEMY CHARTER SCHOOL PROVIDES A LONGER SCHOOL DAY AND A LONGER SCHOOL YEAR WHICH INCLUDES A TWO WEEK SUMMER SESSION. LANGUAGE ARTS AND MATH CLASSES ARE TAUGHT FOR MORE MINUTES EACH WEEK THAN MOST SC
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE FIFTEENTH YEAR OF OPERATION, THE 2022-2023 SCHOOL YEAR, FOUNDATION ACADEMY CHARTER SCHOOL PROVIDED A FULL RANGE OF EDUCATIONAL SERVICES APPROPRIATE FOR ALL STUDENTS IN GRADES KINDERGARTEN THROUGH 12TH GRADE. THE EDUCATIONAL PROGRAM INCLUDES SOCIAL, HEALTH AND NUTRITION SERVICES THAT SUPPORT THE TOTAL EDUCATION OF THE STUDENT. IN ADDITION, THE EDUCATIONAL SERVICES INCLUDE REGULAR, AS WELL AS SPECIAL EDUCATION INSTRUCTION. FOUNDATION ACADEMY CHARTER SCHOOL PROMOTES THE FULL INVOLVEMENT OF PARENTS IN THEIR CHILDRENS EDUCATIONAL DEVELOPMENT. THE CHARTER SCHOOL COMPLETED THE 2022-2023 SCHOOL YEAR WITH THE FOLLOWING ENROLLMENT: 250 PRIMARY SCHOOL STUDENTS IN KINDERGARTEN, GRADE 1 AND GRADE 2; 247 INTERMEDIATE SCHOOL STUDENTS WERE ENROLLED IN GRADES 3 THROUGH 5; 246 MIDDLE SCHOOL STUDENTS IN GRADES 6 THROUGH 8; AND 295 HIGH SCHOOL STUDENTS WERE ENROLLED IN GRADES 9 THRU 12. THE AVERAGE DAILY ENROLLMENT (ADE) FOR THE ENTIRE CHARTER SCHOOL FOR THE 2022-2023 SCHOOL YEAR WAS 1071 STUDENTS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jacqui Griffith President | Trustee | 2 | $0 |
Grecia Montero Trustee | Trustee | 2 | $0 |
Kimme Carlos Trustee | Trustee | 2 | $0 |
Stacy Denton Trustee | Trustee | 2 | $0 |
Stefani Schwartz Board Councel | Trustee | 2 | $0 |
Todd Kent Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Maschios Food Service Food Service | 6/29/23 | $0 |
Core Mechanical Building Contractor | 6/29/23 | $0 |
The Gillespie Group Building Contractor | 6/29/23 | $0 |
Cdw Government Vendor | 6/29/23 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $22,117,688 |
| All other contributions, gifts, grants, and similar amounts not included above | $27,172 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $22,144,860 |
| Total Program Service Revenue | $1,772,764 |
| Investment income | $89,974 |
| 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 | -$364,853 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,642,745 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $1,753,600 |
| Compensation of current officers, directors, key employees. | $282,394 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,860,327 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,062,576 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $20,167 |
| Fees for services: Accounting | $153,675 |
| 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 | $402,838 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $791,077 |
| 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 | $286,114 |
| Insurance | $0 |
| All other expenses | $424,631 |
| Total functional expenses | $22,025,800 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,992,102 |
| Savings and temporary cash investments | $976,618 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,255,568 |
| 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 |
| Net Land, buildings, and equipment | $7,533,543 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,598,787 |
| Total assets | $21,356,618 |
| Accounts payable and accrued expenses | $316,659 |
| Grants payable | $0 |
| Deferred revenue | $438,191 |
| 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 | $10,225,586 |
| Total liabilities | $10,980,436 |
| Net assets without donor restrictions | $10,353,608 |
| Net assets with donor restrictions | $22,574 |
| 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 | $21,356,618 |