The Friends Of King School
- Assets
- $5.9m
- Revenue
- $9.7m
- Investments
- $0.0
- Employees
- 201
- Location
- New Orleans, LA
- Founding
- 01/2008
- Data as of
- 06/2021
- EIN
- 51-0619611
Organization Overview
The Friends Of King School is located in New Orleans, LA. The organization was established in 2008. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2021, Friends Of King School employed 201 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of King 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 06/2021, Friends Of King School generated $9.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.2%) each year. All expenses for the organization totaled $13.0m during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO CREATE AND MAINTAIN AN ORDERLY, TRUSTING ENVIRONMENT WHERE TEACHING AND LEARNING ARE INNOVATIVE AND EXCITING, WHERE STUDENTS ARE TAUGHT TO READ, WRITE, COMPUTE, AND THINK CRITICALLY ACCORDING TO THEIR FULLEST POTENTIAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE DR. MARTIN LUTHER KING CHARTER SCHOOL FOR SCIENCE AND TECHNOLOGY PROVIDES EDUCATIONAL SERVICES ACCORDING TO THE EDUCATIONAL STANDARDS ESTABLISHED BY LAW, THE CHARTER CONTRACT AND THE CHARTER APPLICATION/PROPOSAL; MEASURES PUPIL PROGRESS TOWARD STATED GOALS; AND PARTICIPATES IN PUPIL ASSESSMENT REQUIRED BY LAW, REGULATION AND BESE POLICY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Doris R Hicks Chief Academic Officer | Officer | 40 | $183,875 |
Velta Simms Principal/chief Executive Officer | Officer | 40 | $135,461 |
Lindsey Moore Principal | 40 | $114,864 | |
Rodney Lilley Chief Financial Officer | Officer | 40 | $110,873 |
Dr Eartha Lee Johnson Vice President | OfficerTrustee | 2 | $0 |
George Rabb Treasurer | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Security Experts & Leaders Security | 6/29/18 | $142,109 |
First Student Student Transportation | 6/29/18 | $565,455 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $9,570,229 |
| All other contributions, gifts, grants, and similar amounts not included above | $18,699 |
| Noncash contributions included in lines 1a–1f | $51,039 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,588,928 |
| Total Program Service Revenue | $0 |
| Investment income | $44,368 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$3,912 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,680,665 |
| 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. | $545,073 |
| Compensation of current officers, directors, key employees. | $430,209 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,751,160 |
| Pension plan accruals and contributions | $436,380 |
| Other employee benefits | $671,411 |
| Payroll taxes | $687,302 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,500 |
| Fees for services: Accounting | $732 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $529,597 |
| Advertising and promotion | $0 |
| Office expenses | $23,106 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $276,437 |
| Travel | $3,980 |
| 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 | $20,825 |
| Insurance | $286,915 |
| All other expenses | $136,803 |
| Total functional expenses | $13,029,832 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,152,329 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $725,934 |
| 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 | $10,834 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,832 |
| Total assets | $5,901,929 |
| Accounts payable and accrued expenses | $991,070 |
| 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 | $2,012,437 |
| Other liabilities | $223,728 |
| Total liabilities | $3,227,235 |
| Net assets without donor restrictions | $2,252,545 |
| Net assets with donor restrictions | $422,149 |
| 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 | $5,901,929 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that The Friends Of King School has recieved totaling $43,726.
| Awarding Organization | Amount |
|---|---|
Second Harvest Food Bank Of Greater New Orleans And Acadiana New Orleans, LA PURPOSE: TO PROVIDE FOOD ASSISTANCE FOR PERSONS IN NEED | $26,226 |
New Schools For New Orleans Inc New Orleans, LA PURPOSE: SUMMER LEARNING GRANT | $17,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Collegiate Academies New Orleans, LA | $15,386,568 | $45,139,366 |
Renew-Reinventing Education New Orleans, LA | $11,254,190 | $34,978,044 |
Foundation For Louisiana Students Baton Rouge, LA | $21,702,876 | $38,265,312 |
East Texas Advanced Academies Longview, TX | $2,379,457 | $32,700,344 |
Basis Texas Charter Schools Inc San Antonio, TX | $92,451,409 | $31,933,223 |
Discovery Health Sciences Foundation Inc Kenner, LA | $11,194,982 | $30,168,997 |
Arkansas Virtual Academy Little Rock, AR | $3,075,159 | $27,721,037 |
Algiers Charter School Association Inc New Orleans, LA | $11,545,116 | $21,416,188 |
Einstein Group New Orleans, LA | $9,740,028 | $21,533,973 |
Golden Rule Schools Inc Desto, TX | $72,016,277 | $20,883,674 |
Advocates For Arts Based Educationinc New Orleans, LA | $25,052,581 | $22,710,552 |
Lighthouse Academies Of Arkansas Inc North Little Rock, AR | $582,799 | $18,301,867 |