Excellence Academies Foundation INC

Tax-deductible

New York, NY501(c)(3)Since 2003EducationEIN 01-0790110

To support the charitable purpose of the supported organization, uncommon schools, INC.; a related internal revenue code section 501(c)(3) tax exempt organization, by engaging in activities directed to the development of innovative schools, especially charter public schools. In particular, excellence academies foundation, INC., which supports the start-up, program development, and program implementation of uncommon excellence boys charter school (elementary and middle school) and the acquisition and development of property to be used by uncommon excellence boys charter school (elementary and middle school), a charter public school that opened in the bedford stuyvesant neighborhood of brooklyn, new york in august 2004.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Run by 2 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 5
filings with a surplus
Average deficit $893K a year · 649% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
44 mo
of spending, in cash
Looks good: 43.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$15.6M
44% of total assets
Looks good: liabilities are 44% of assets; 50% or less.
Pt X · Ln 26
Independent board members
2
of 3 voting members
Looks good: 2 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$229K
+0.6% vs prior year
Spent
$1.0M
To programs
100%
Net assets
$20.1M
By yearFY2020–FY2024
Revenue
$229K
FY2024▲ +0.6%
Revenue by fiscal year
FY2020$0
FY2021$278K
FY2022$12K
FY2023$171K
FY2024$227K
FY2024$229K
Expenses
$1.0M
FY2024▼ -2%
Expenses by fiscal year
FY2020$1.0M
FY2021$1.1M
FY2022$1.0M
FY2023$1.0M
FY2024$1.0M
FY2024$1.0M
Net assets
$20.1M
FY2024▼ -4%
Net assets by fiscal year
FY2020$24.3M
FY2021$23.5M
FY2022$22.5M
FY2023$21.7M
FY2024$20.9M
FY2024$20.1M

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2004.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $1.0M

Form 990 Part IX, line 25. Every line is in By the numbers.

Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation
Director/Co-CEO
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Senior Director, Fp&a
$0Pt VII · Sec A
See Excellence Academies Foundation INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Supports a charter school's operations and facility development for boys.

Provided by the organization

This section is blank until Excellence Academies Foundation INC claims this page.

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1 program service account for $1.0M of program spending, described in the organization's own filed words · FY2024.
01

Expenses incurred in carrying out the charitable purposes of the supported organization, uncommon schools, inc.; an internal revenue code section 501(c)(3) tax-exempt organization, by engaging in activities directed to the development of innovative schools, especially charter public shcools.

$1.0Mprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$229K
Ln 12
Investment incomeLn 3$131K
Fees for servicesLn 2g$97K
Money outPt IX
$1.0M
Ln 25
Programscol B$1.0M
Owns and owesPt X
$20.1M
net assets · Ln 32
Cash and savingsLn 1–2$3.7M
Total assetsLn 16$35.7M
LiabilitiesLn 26$15.6M
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$97K
Investment incomeLn 3$131K
Total revenueLn 12$229K
Assets in detailPt X, end of year
CashLn 1$590K
SavingsLn 2$3.1M
Cash and savings togetherLn 1–2$3.7M
Land, buildings, equipmentLn 10c$17.5M
Total assetsLn 16$35.7M
LiabilitiesLn 26$15.6M
Net assetsLn 32$20.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 62
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$3.6M$3.7M
Land, buildings, equipmentLn 10c$18.4M$17.5M
Total assetsLn 16$36.8M$35.7M
LiabilitiesLn 26$15.9M$15.6M
Net assetsLn 32$20.9M$20.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$12K$12K
Other fees for servicesLn 11g$853$853
Depreciation, depletion and amortizationLn 22$913K$913K
InsuranceLn 23$82K$82K
Total functional expensesLn 25$1.0M$1.0M$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $227K$1.0M−$798K$20.9M 990 PDF
FY2023 $171K$1.0M−$833K$21.7M 990 PDF
FY2022 $12K$1.0M−$1.0M$22.5M 990 PDF
FY2021 $278K$1.1M−$813K$23.5M 990 PDF
FY2020 $0$1.0M−$1.0M$24.3M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $228,603 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $97,367$97,367
VIII-3 Investment incomeExcluded from tax $131,236$131,236
VIII-12 Total revenueRelated to mission $97,367 · Unrelated business $0 · Excluded from tax $131,236$228,603
Part IX · Statement of functional expenses $1,008,264 across 4 lines filed
IX-11a Management feesPrograms $12,013$12,013
IX-11g Other fees for servicesPrograms $853$853
IX-22 Depreciation, depletion and amortizationPrograms $913,045$913,045
IX-23 InsurancePrograms $82,353$82,353
IX-25 Total functional expensesPrograms $1,008,264 · Management $0 · Fundraising $0$1,008,264
Part X · Balance sheet $35,718,054 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $519,946$590,475
X-2 Savings and temporary cash investmentsStart of year $3,043,031$3,089,754
X-3 Pledges and grants receivableStart of year $14,696,304$14,443,983
X-4 Accounts receivableStart of year $78,109$82,353
X-10c Land, buildings and equipment, netStart of year $18,424,535$17,511,489
X-16 Total assetsStart of year $36,761,925$35,718,054
X-17 Accounts payable and accrued expenses$330
X-19 Deferred revenueStart of year $1,151,515$1,139,394
X-25 Other liabilitiesStart of year $14,708,415$14,455,996
X-26 Total liabilitiesStart of year $15,859,930$15,595,720
X-27 Net assets without donor restrictionsStart of year $20,901,995$20,122,334
X-32 Total net assets or fund balancesStart of year $20,901,995$20,122,334
X-33 Total liabilities and net assetsStart of year $36,761,925$35,718,054
Part XI · Reconciliation of net assets $20,122,334 net assets at year end
XI-1 Total revenue$228,603
XI-2 Total expenses$1,008,264
XI-3 Revenue less expenses−$779,661
XI-4 Net assets at start of year$20,901,995
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$20,122,334

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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