Mariner Foundation
- Assets
- $22.2m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Charlotte, NC
- Founding
- 10/2013
- Data as of
- 06/2022
- EIN
- 45-4997770
Organization Overview
Mariner Foundation is located in Charlotte, NC. The organization was established in 2013. According to its NTEE Classification (B94) the organization is classified as: Parent & Teacher Groups, 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. Mariner 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, Mariner Foundation generated $1.8m in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 26.0% each year . All expenses for the organization totaled $2.0m during the year ending 06/2022. While expenses have increased by 10.1% per year over the past 2 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO HELP MOUNTAIN ISLAND DAY COMMUNITY CHARTER SCHOOL SUCCEED BY PARTNERING PARENTS AND TEACHERS AND PROVIDING RESOURCES FOR THE SCHOOL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MARINER FOUNDATION FUNCTIONS AS THE PARENT-TEACHER ORGANIZATION FOR MOUNTAIN ISLAND DAY COMMUNITY CHARTER SCHOOL AND ALSO OWNS THE PHYSICAL FACILTIES OF THE SCHOOL AND HOLDS THE ASSOCIATED DEBT. IN FY 19/20, THE FOUNDATION BORROWED $24,735,000 THROUGH A PUBLIC FINANCE BOND OFFERING IN ORDER TO PURCHASE THE SCHOOL'S FORMERLY LEASED FACILITIES, CONSTRUCT A NEW EDUCATIONAL FACILITY, PURCHASE LAND FOR FUTURE USE, AND MAKE A VARIETY OF IMPROVEMENTS TO THE SCHOOL'S GROUNDS.THE FOUNDATION LEASES THE PROPERTY TO THE SCHOOL IN AMOUNT EQUAL TO THE ANNUAL DEBT SERVICE REQUIREMENTS.THE FOUNDATION ALSO COORDINATES EXTRA-CURRICULAR AND ANCILLARY ACTIVITIES FOR THE SCHOOL SUCH AS BUS TRANSPORTATION AND STUDENT ACTIVITIES AND COLLECTS FEES AND PAYS EXPENSES FOR ACTIVITIES SUCH AS DANCE, ART, AND ATHLETICS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bitika Williams President | OfficerTrustee | 5 | $0 |
Stephanie Hill Secretary | OfficerTrustee | 5 | $0 |
Sarah Scholz Treasurer | OfficerTrustee | 5 | $0 |
Virginia Staley Director | Trustee | 2 | $0 |
Bill Tracey Director | Trustee | 2 | $0 |
Vermaine Shelton Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $470,066 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $470,066 |
| Total Program Service Revenue | $1,320,157 |
| Investment income | $3,519 |
| 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 | $1,793,742 |
| 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. | $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 | $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 | $1,392,975 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $403,262 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,024,207 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $201,745 |
| Savings and temporary cash investments | $2,528,527 |
| 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 |
| Net Land, buildings, and equipment | $19,461,655 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $22,191,927 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $145,924 |
| Tax-exempt bond liabilities | $24,055,000 |
| 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 | $300,000 |
| Other liabilities | $0 |
| Total liabilities | $24,500,924 |
| Net assets without donor restrictions | -$2,308,997 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $22,191,927 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Mariner Foundation has recieved totaling $1,500.
| Awarding Organization | Amount |
|---|---|
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $500 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $500 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Congress Of Parents And Teachers Alexandria, VA | $19,792,839 | $11,821,028 |
Mariner Foundation Charlotte, NC | $22,191,927 | $1,793,742 |
Black Teacher Collaborative Incorporated Atlanta, GA | $5,760,388 | $5,597,948 |
Communityworx Carrboro, NC | $4,935,522 | $1,612,558 |
Family Impact Fund Charlotte, NC | $0 | $149,457 |
Independence High School Ptso Thompsons Station, TN | $458,068 | $848,792 |
Pta Georgia Congress Atlanta, GA | $843,053 | $514,941 |
Fitness Association Of Pto Alexandria, VA | $315,549 | $363,007 |
Ardrey Kell High School Athletic Booster Club Charlotte, NC | $160,091 | $468,362 |
W T Woodson Athletic Boosters Club Fairfax, VA | $402,375 | $484,544 |
Pta North Carolina Congress Of Parents And Teachers Inc Raleigh, NC | $392,313 | $236,472 |
Springdale Park Elementary School Parents And Teachers Organization Atlanta, GA | $337,491 | $331,825 |