Foundations Charter School Inc in Baltimore, Maryland (MD)
Table of contents:
| Foundations Charter School Inc | |
| Employer Identification Number (EIN) | 263223240 |
| Name of Organization | Foundations Charter School Inc |
| In Care of Name | Margaret M McLean |
| Address | 7030 Bellona Ave, Baltimore, MD 21212 |
| Subsection | Educational Organization |
| Ruling Date | 02/2009 |
| Deductibility | Contributions are deductible |
| Foundation | School |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 2010 |
| Assets | $1 to $9,999 |
| Income | $10,000 to $24,999 |
| Filing Requirement | 990 - Required to file Form 990-N - Income less than $25,000 per year |
| Asset Amount | $3,792 |
| Amount of Income | $18,125 |
| Form 990 Revenue Amount | $18,125 |
| National Taxonomy of Exempt Entities (NTEE) | Educational Institutions and Related Activities: |
Non-representatives - add comments:
Amount of income in 2010: $18,125 (it was $56,207 in 2013)
| Foundations Charter School Inc: | $18,125 |
| Other organizations performing similar types of work: | $2,542,338 |
Assets in 2010: $3,792 (it was $209 in 2013)
| This organization: | $3,792 |
| Other organizations performing similar types of work: | $807,636 |
Expenses in 2013: $68,181
| Foundations Charter School Inc: | $68,181 |
| Other organizations performing similar types of work: | $2,510,452 |
Income to expenses ratio in 2013: 0.3
| This organization: | 0.3 |
| Other organizations performing similar types of work: | 1.0 |
Grants share in income in 2013: 100.0%
| This organization: | 100.0% |
| Other organizations performing similar types of work: | 1.6% |
| Revenue, Expenses, and Changes in Net Assets or Fund Balances | ||
| 2012 | 2013 | |
|---|---|---|
| Total revenue | $65,014 | $56,207 |
| Contributions, gifts, grants, and similar amounts received | $65,014 | $56,207 |
| Program service revenue including government fees and contracts | $0 | $0 |
| Membership dues and assessments | $0 | $0 |
| Investment income | $0 | $0 |
| Gain/Loss from sale of assets other than inventory | $0 | $0 |
| Net income/loss from gaming and fundraising events | $0 | $0 |
| Gross profit/loss from sales of inventory | $0 | $0 |
| Other revenue | $0 | $0 |
| Total expenses | $64,474 | $68,181 |
| Total net assets | $9,587 | $-4,887 |
| Excess/Deficit for the year | $540 | $-11,974 |
| Net assets or fund balances at beginning of year | $9,047 | $7,087 |
| Other changes in net assets or fund balances | $0 | $0 |
| Net assets or fund balances at end of year | $9,587 | $-2,387 |
| Balance Sheets | ||
| 2012 | 2013 | |
|---|---|---|
| Total assets | $33,087 | $209 |
| Total liabilities | $23,500 | $5,095 |
| Net assets or fund balances | $9,587 | $-4,887 |
| Other Information | ||
| 2012 | 2013 | |
|---|---|---|
| Did the organization engage in any significant activity not previously reported to the IRS? | No | No |
| Were any significant changes made to the organizing or governing documents? | No | No |
| Did the organization have unrelated business gross income of $1,000 or more during the year from business activities | No | No |
| Has the organization filed a Form 990-T for the year? | No | No |
| Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year? | No | No |
| Amount of political expenditures, direct or indirect | $0 | $0 |
| Did the organization file Form 1120-POL for this year? | No | No |
| Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return? | Yes | No |
| Total amount involved | $23,500 | $0 |
| Initiation fees and capital contributions | $0 | $0 |
| Gross receipts for public use of club facilities | $0 | $0 |
| Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ? | No | No |
| At any time during the tax year, was the organization a party to a prohibited tax shelter transaction? | No | No |
| Reason for Public Charity Status (for 2013) | |
| The organization is not a private foundation because it is: | A school described in section 170(b)(1)(A)(ii) |
| Number of organizations supported | 0 |
| Sum of amounts of support | $0 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Summit Academy Incorporated | 1285 E 13200 S, Draper, UT 84020-9000 | UT | 2005-05 | $6,769,855 |
| 2 | Peabody Charter School Inc | 3018 Calle Noguera, Santa Barbara, CA 93105-2848 | CA | 2009-08 | $6,466,030 |
| 3 | The Highlander Charter School | 42 Lexington Ave, Providence, RI 02907-1716 | RI | 2003-07 | $6,404,245 |
| 4 | Cheyenne Classical Academy | Po Box 984, Cheyenne, WY 82003 | WY | 2007-08 | $56,133 |
| 5 | Monarch Academy Baltimore Campus Inc | 6802 Mcclean Boulevard, Baltimore, MD 21234 | MD | 2012-12 | $9,466,814 |
| 6 | East Baltimore Community School, Ebcs | 2800 N Charles Street No 326, Baltimore, MD 21218-4026 | MD | 2009-11 | $8,453,666 |
| 7 | Monarch Academy Public Charter School Inc | 6802 Mcclean Blvd, Baltimore, MD 21234-7260 | MD | 2010-01 | $8,162,119 |
| 8 | F L Templeton Preparatory Academy Inc | 1200 Pennsylvania Ave, Baltimore, MD 21217-3045 | MD | 2011-09 | $5,687,146 |
| 9 | Fashion Architecture And Basic Design School Inc | 1500 Barclay St, Baltimore, MD 21202-3105 | MD | 2014-10 | $5,341,479 |
| 10 | Baltimore It Academy | 900 Woodbourne Ave, Baltimore, MD 21212-4027 | MD | 2011-04 | $4,119,420 |
| 11 | Reach Baltimore Inc, Reach Partnership | 2701 St Lo Drive, Baltimore, MD 21213-1100 | MD | 2011-02 | $3,189,020 |
| 12 | City Neighbors High School | 5609 Sefton Ave, Baltimore, MD 21214-2300 | MD | 2012-03 | $3,111,451 |
| 13 | Roots And Branches Inc, Roots And Branches School | 1807 Harlem Ave, Baltimore, MD 21217-1411 | MD | 2010-11 | $2,021,367 |
| 14 | City Neighbors Hamilton | 5609 Sefton Avenue, Baltimore, MD 21214-2300 | MD | 2012-03 | $1,817,138 |
| 15 | College Park Academy Inc | 7501 Adelphi Rd, Hyattsville, MD 20783-1906 | MD | 2013-09 | $1,077,607 |
| 16 | Chesapeake Math And It Academy | 6100 Frost Place, Laurel, MD 20707-2928 | MD | 2011-06 | $132,863 |
| 17 | Foundations Charter School Inc | 7030 Bellona Ave, Baltimore, MD 21212 | MD | 2009-02 | $18,125 |
| 18 | Education Basics Advancement Research Center Inc, Education Basics Advancement Center | 1300 Mercantile Ln Ste 139kk, Largo, MD 20774-5327 | MD | 2007-08 | $16,500 |
| 19 | Aeronautics & Space Academy Of Prince Georges County | 9646 Marlboro Pike, Upper Marlboro, MD 20772 | MD | 2014-07 | $0 |
| 20 | Allegany Academy Inc, Mountain Maryland Public Charter School | 15701 Bottle Run Road, Cumberland, MD 21502 | MD | 2010-09 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 2,956 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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