Mason Preparatory School Foundation

Charleston, SCUnknown exempt organizationEIN 47-2755337

The mason prep school foundation supports mason prep school through strategic fundraising that provides scholarships and financial assistance to mason prep students, promotes the development of the mason prep faculty,

100¢ of each $1 spent went to programs.
Run by 9 volunteers.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
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
2 of 4
filings with a surplus
Average deficit $88K a year · 69% of revenue · last 4 filings
Worth a look: a surplus in 2 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Named funders
1
named funder · $8K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
total owed
No data yet: the filing does not give total assets.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3K
-99% vs prior year
Spent
$552K
To programs
100%
Net assets
$0
By yearFY2021–FY2024
Revenue
$3K
FY2024▼ -99%
Revenue by fiscal year
FY2021$158K
FY2022$137K
FY2023$213K
FY2024$3K
Expenses
$552K
FY2024▲ +444%
Expenses by fiscal year
FY2021$163K
FY2022$44K
FY2023$101K
FY2024$552K
Net assets
$0
FY2024▼ -100%
Net assets by fiscal year
FY2021$345K
FY2022$438K
FY2023$550K
FY2024$0

From the FY2024 Form 990 (year ending May 2024) · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

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% · $551K Management & general 0% · $800

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

Who runs it and what they're paid

10 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Director/Cha
$0Pt VII · Sec A
Director/Tre
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Mason Preparatory School Foundation 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 15aYes

Programs and updates

Raises funds for scholarships, faculty development, and student financial aid at Mason Prep School.

Provided by the organization

This section is blank until Mason Preparatory School Foundation claims this page.

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1 program service account for $551K of program spending, described in the organization's own filed words · FY2023.
01

The mason prep foundation is the fundraising arm of mason prep school. The foundations efforts raise funds to enable mason prep school to provide financial aid to qualified mason prep students, promote the development of mason prep's FACULTY/STAFF, and enhance and improve mason prep's facilities and its educational programs.

$551Kprogram expense

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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 · FY2024
Total grants receivedfrom 1 funder$8K
Grants paid · 5 grants · $794K · 2020–2023
Mason Preparatory SchoolSC · FY2023$551,456
Mason Preparatory SchoolSC · FY2022$92,465
Mason Preparatory SchoolSC · FY2021$28,670
Mason Preparatory SchoolSC · FY2020$94,729
Mason Preparatory SchoolSC · FY2020$26,713

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$3K
Ln 12
Gifts and grantsLn 1h$3K
Investment incomeLn 3$2
Money outPt IX
$552K
Ln 25
Programscol B$551K
Managementcol C$800
Owns and owesPt X
$0
net assets · Ln 32
Total assetsLn 16$0
LiabilitiesLn 26$0
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3K
Investment incomeLn 3$2
Total revenueLn 12$3K
Assets in detailPt X, end of year
Total assetsLn 16$0
LiabilitiesLn 26$0
Net assetsLn 32$0
OperationsPt I, VI
EmployeesI 50
VolunteersI 69
Fiscal year endsHeaderMay
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
Total assetsLn 16$550K$0
LiabilitiesLn 26$0$0
Net assetsLn 32$550K$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$551K$551K
Other fees for servicesLn 11g$800$800
Total functional expensesLn 25$552K$551K$800$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $3K$552K−$550K$0 990 PDF
FY2023 $213K$101K$112K$550K 990 PDF
FY2022 $137K$44K$92K$438K 990 PDF
FY2021 $158K$163K−$5K$345K 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 $2,749 across 4 lines filed
VIII-1f All other contributions, gifts and grants$2,747
VIII-1h Total contributions, gifts and grants$2,747
VIII-3 Investment incomeExcluded from tax $2$2
VIII-12 Total revenueExcluded from tax $2$2,749
Part IX · Statement of functional expenses $552,256 across 2 lines filed
IX-1 Grants to domestic organizationsPrograms $551,456$551,456
IX-11g Other fees for servicesManagement $800$800
IX-25 Total functional expensesPrograms $551,456 · Management $800 · Fundraising $0$552,256
Part X · Balance sheet $0 assets, 4 lines filed
X-16 Total assetsStart of year $549,659$0
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $549,659$0
X-33 Total liabilities and net assetsStart of year $549,659$0
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue$2,749
XI-2 Total expenses$552,256
XI-3 Revenue less expenses−$549,507
XI-4 Net assets at start of year$549,659
XI-8 Prior period adjustments−$152
XI-10 Net assets at end of year$0

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

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