Explore Academy Las Cruces Foundation
- Assets
- $20.3m
- Revenue
- $306.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Las Cruces, NM
- Founding
- Data as of
- 06/2023
- EIN
- 86-3981282
Organization Overview
Explore Academy Las Cruces Foundation is located in Las Cruces, NM. 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. Explore Academy Las Cruces Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT VARIOUS CHARTER SCHOOLS THAT HAVE BEEN DISIGNATED BY THE BOARD OF DIRECTORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACQUIRE AND LEASE FACILITY TO EXPLORE ACADEMY - LAS CRUCES.THE FOUNDATION WILL RENT THESE FACILITIES TO THEIR SUPPORTED ORGANIZATION, EXPLORE ACADEMY - LAS CRUCES, FOR USE IN PROVIDING THE CHARTER SCHOOL'S TAX-EXEMPT EDUCATIONAL SERVICES. FROM THIS RENT, THE ORGANIZATION WILL PAY THE FACILITY DEBT SERVICE AS WELL AS SOME OTHER EXPENSES.
ACQUIRE AND LEASE FACILITY TO EXPLORE ACADEMY - RIO RANCHO.THE FOUNDATION WILL RENT THESE FACILITIES TO THEIR SUPPORTED ORGANIZATION, EXPLORE ACADEMY - RIO RANCHO, FOR USE IN PROVIDING THE CHARTER SCHOOL'S TAX-EXEMPT EDUCATIONAL SERVICES. FROM THIS RENT, THE ORGANIZATION WILL PAY THE FACILITY DEBT SERVICE AS WELL AS SOME OTHER EXPENSES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen Casedy Chair | OfficerTrustee | 2 | $0 |
Brittany Pintor Secretary (term 11/2022) | OfficerTrustee | 1 | $0 |
Nila Judd Secretary (new 11/2022) | OfficerTrustee | 1 | $0 |
Ralph Lovato Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aic General Contractors General Contractor | 6/29/23 | $2,521,121 |
Hartman Majewski Design Group Architectural Design | 6/29/23 | $321,298 |
Wms Enterprises Ltd Construction Management | 6/29/23 | $167,979 |
Modrall Law Firm Legal | 6/29/23 | $107,283 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $181,415 |
| Investment income | $125,210 |
| 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 | $306,625 |
| 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 | $54,782 |
| 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 | $1,291,856 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $283,197 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,537,647 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,509,919 |
| 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 | $16,818,393 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $20,328,312 |
| Accounts payable and accrued expenses | $218,765 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $21,915,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,535,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $23,668,765 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | -$3,340,453 |
| Total liabilities and net assets/fund balances | $20,328,312 |