Learning First Foundation, INC. Is committed to supporting the Learning First charter public school's efforts to improve the quality of public education in massachusetts. Learning First Foundation will DO this by holding the building, raising funds, and engaging the greater community in activities to help students, families, and teachers.

501(c)(3) charity; gifts are tax-deductible.
85¢ of each $1 spent went to programs.
$103K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2021 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $557K a year · 43% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
85%
of spending
Looks good: 85% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$103K
to officers and key staff · 18% of spending
Fine: pay to officers and key staff is 18% of spending; 15% to 20%.
Pt VII · Sec A
43 mo
of spending, in cash
Looks good: 43.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $15K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$6.0M
68% of total assets
Worth a look: liabilities are 68% of assets; over 65%.
Pt X · Ln 26
Independent board members
2
of 4 voting members
Fine: 2 of 4 voting members are independent, half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$889K
Spent
$568K
To programs
85%
Net assets
$2.8M
By yearFY2021–FY2025
Revenue
$889K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$889K
FY2022$919K
FY2023$1.1M
FY2024$2.2M
FY2025$1.4M
Expenses
$568K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$568K
FY2022$333K
FY2023$583K
FY2024$1.1M
FY2025$1.1M
Net assets
$2.8M
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$2.8M
FY2022$3.4M
FY2023$3.9M
FY2024$4.4M
FY2025$4.7M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 1996.

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

Where the money goes

85 cents of each dollar spent went to programs.

Program services 85% · $484K Management & general 15% · $84K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

10 people listed on the 990; $103K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Executive Director/Secretary
$88,569Pt VII · Sec A
Director of Finance
$14,770Pt VII · Sec A
Chair (until July '20)
$0Pt VII · Sec A
Trustee (until Sept '20)
$0Pt VII · Sec A
Vice Chair (until Nov '20)
$0Pt VII · Sec A
Secretary/Clerk (until March '21)
$0Pt VII · Sec A
$0Pt VII · Sec A
Superintendent/President/Chair
$0Pt VII · Sec A

Cynthia Krackovic’s $10K as Director of Finance is at the 2nd percentile of top reported officer pay among 3394 $1–10M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021
Rosie Fayard————$88,569
Cynthia Krackovic$10,387$16,915$16,107$14,471$14,770

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 public education by funding, managing facilities, and engaging the community for students, families, and teachers.

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Provided by the organization

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1 program · $484K · in their own filed words · FY2020
01

Owned, operated, maintained and improved real estate for the operation and maintenance of the seven hills charter public school. We also stimulated the development of innovative programs at the seven hills charter public school.

$484Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2023
Total grants receivedfrom 2 funders$15K
Grants paid · 4 grants · $48K · 2020–2021
The Learning First Charter Public SchoolFY2021$16,037
Seven Hills Charter Public SchoolFY2020$20,295
Unitemized GrantFY2020$9,000
Unitemized GrantFY2020$3,000

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$889K
Ln 12
Fees for servicesLn 2g$814K
Gifts and grantsLn 1h$71K
Investment incomeLn 3$4K
Money outPt IX
$568K
Ln 25
Programscol B$484K
Managementcol C$84K
Owns and owesPt X
$2.8M
net assets · Ln 32
Cash and savingsLn 1–2$2.0M
Total assetsLn 16$8.8M
LiabilitiesLn 26$6.0M
PeoplePt VI, VII
10
listed · VII A
PaidVII A2
Voting boardVI 1a4
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$71K
Noncash giftsLn 1g$10K
Fees for servicesLn 2g$814K
Investment incomeLn 3$4K
Total revenueLn 12$889K
Assets in detailPt X, end of year
CashLn 1$2.0M
Cash and savings togetherLn 1–2$2.0M
Land, buildings, equipmentLn 10c$6.5M
Other assetsLn 15$210K
Total assetsLn 16$8.8M
LiabilitiesLn 26$6.0M
Net assetsLn 32$2.8M
OperationsPt I, VI
EmployeesI 50
VolunteersI 64
Fiscal year endsHeaderJune
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 FY21End FY21
Cash and savingsLn 1–2$2.5M$2.0M
Land, buildings, equipmentLn 10c$1.6M$6.5M
Total assetsLn 16$4.3M$8.8M
LiabilitiesLn 26$1.9M$6.0M
Net assetsLn 32$2.4M$2.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$20K$20K
Grants to domestic individualsLn 2$12K$12K
Management feesLn 11a$45K$45K
Legal feesLn 11b$3K$3K
Accounting feesLn 11c$20K$20K
OccupancyLn 16$58K$58K
InterestLn 20$79K$79K
Depreciation, depletion and amortizationLn 22$245K$245K
InsuranceLn 23$36K$36K
Other expenses (24a–d)Ln 24$49K$33K$16K
Total functional expensesLn 25$568K$484K$84K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.4M$1.1M$251K$4.7M 990 PDF
FY2024 $2.2M$1.1M$1.1M$4.4M 990 PDF
FY2023 $1.1M$583K$520K$3.9M 990 PDF
FY2022 $919K$333K$586K$3.4M 990 PDF
FY2021 Viewing $889K$568K$321K$2.8M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $888,531 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $109,393$70,549
I-9 Program service revenuePrior year $813,800$813,800
I-10 Investment incomePrior year $12,044$4,182
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $935,237$888,531
I-13 Grants and similar amounts paidPrior year $61,170$32,295
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $643,161$535,437
I-18 Total expensesPrior year $704,331$567,732
I-19 Revenue less expensesPrior year $230,906$320,799
Part VI · Governance 2 of 4 board members independent, 1 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members2
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $888,531 across 6 lines filed
VIII-1f All other contributions, gifts and grants$70,549
VIII-1g Noncash contributions (included above)$10,170
VIII-1h Total contributions, gifts and grants$70,549
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $813,800$813,800
VIII-3 Investment incomeExcluded from tax $4,182$4,182
VIII-12 Total revenueRelated to mission $813,800 · Unrelated business $0 · Excluded from tax $4,182$888,531
Part IX · Statement of functional expenses $567,732 across 10 lines filed
IX-1 Grants to domestic organizationsPrograms $20,295$20,295
IX-2 Grants to domestic individualsPrograms $12,000$12,000
IX-11a Management feesManagement $44,978$44,978
IX-11b Legal feesManagement $2,700$2,700
IX-11c Accounting feesManagement $20,370$20,370
IX-16 OccupancyPrograms $58,466$58,466
IX-20 InterestPrograms $78,515$78,515
IX-22 Depreciation, depletion and amortizationPrograms $245,367$245,367
IX-23 InsurancePrograms $36,334$36,334
IX-24 Other expenses (24a–d)Programs $32,664 · Management $16,043$48,707
IX-25 Total functional expensesPrograms $483,641 · Management $84,091 · Fundraising $0$567,732
Part X · Balance sheet $8,815,830 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $2,460,744$2,043,872
X-9 Prepaid expenses and deferred chargesStart of year $17,694$18,625
X-10c Land, buildings and equipment, netStart of year $1,624,328$6,542,923
X-15 Other assetsStart of year $181,804$210,410
X-16 Total assetsStart of year $4,284,570$8,815,830
X-17 Accounts payable and accrued expensesStart of year $245,494$373,544
X-19 Deferred revenue$4,300,000
X-25 Other liabilitiesStart of year $165,862$104,690
X-26 Total liabilitiesStart of year $1,878,365$6,027,654
X-27 Net assets without donor restrictionsStart of year $2,406,205$2,788,176
X-32 Total net assets or fund balancesStart of year $2,406,205$2,788,176
X-33 Total liabilities and net assetsStart of year $4,284,570$8,815,830
Part XI · Reconciliation of net assets $2,788,176 net assets at year end
XI-1 Total revenue$888,531
XI-2 Total expenses$567,732
XI-3 Revenue less expenses$320,799
XI-4 Net assets at start of year$2,406,205
XI-9 Other changes in net assets$61,172
XI-10 Net assets at end of year$2,788,176

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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