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Fospe INC FY2024 filing

Tax-deductible

Miami Beach, FL501(c)(3)Since 2015EducationEIN 47-2871969

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Fospe, INC. Was established in january 2015 and is a 501(c)(3) designated non profit entity. Fospe's mission is to raise funds and work in close cooperation with south pointe elementary principal/faculty and administration to expand curricular enrichment, educational initiatives and classroom support for the benefit of the children at south pointe elementary. Our parent driven volunteer organization aims to raise funds and provide south pointe elementary public school with curricular enrichment, educational initiative and classroom support. Fospe, INC. Is comprised of friends, family, neighbors and colleagues who share a core belief: our community is what we make IT. Our goal: to give every child the opportunity to succeed in a safe, professional, caring, and compassionate school environment while empowering them with productive learning to help them achieve success in life.

501(c)(3) charity; gifts are tax-deductible.
97¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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
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
2 of 5
filings with a surplus
Average surplus $10K a year · 3% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
97%
of spending
Looks good: 97% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Looks good: 3.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $25K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$469K
-14% vs prior year
Spent
$478K
To programs
97%
Net assets
$128K
By yearFY2021–FY2025
Revenue
$469K
FY2024▼ -14%
Revenue by fiscal year
FY2021$51K
FY2022$372K
FY2023$548K
FY2024$469K
FY2025$425K
FY2025$497K
Expenses
$478K
FY2024▼ -13%
Expenses by fiscal year
FY2021$60K
FY2022$318K
FY2023$552K
FY2024$478K
FY2025$409K
FY2025$504K
Net assets
$128K
FY2024▼ -6%
Net assets by fiscal year
FY2021$87K
FY2022$139K
FY2023$137K
FY2024$128K
FY2025$145K
FY2025$137K

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

Form 990 (PDF) Claim
You’re viewing the FY2024 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 Jun 2015.

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

Where the money goes

97 cents of each dollar spent went to programs.

Program services 97% · $466K Management & general 3% · $12K

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

8 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$0Pt VII · Sec A
Vedant Mimani
President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Sarah Wright
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Fospe 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 elementary students with enriched learning, educational programs, and classroom resources.

Provided by the organization

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1 program · $466K · in their own filed words · FY2023
01

Fospe delivered extra-curricular enrichment, educational initiatives, health and safety enhancements and classroom support for the benefit of ~ 550 students at miami beach south pointe elementary school. The result of this work helped south pointe elementary retain its "a" grade from the state of florida department of education.

$466Kprogram 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 · FY2024
Mightycause Charitable FoundationFY2024$25K
Total grants receivedfrom 1 funder$25K
Grants paid · 1 grant · $26K · 2023–2023
Individual RecipientFY2023$26,138

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$469K
Ln 12
Fees for servicesLn 2g$400K
Gifts and grantsLn 1h$53K
Other incomeLn 4–11$17K
Money outPt IX
$478K
Ln 25
Programscol B$466K
Managementcol C$12K
Owns and owesPt X
$128K
net assets · Ln 32
Cash and savingsLn 1–2$131K
Total assetsLn 16$131K
LiabilitiesLn 26$2K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$53K
Fees for servicesLn 2g$400K
Other incomeLn 4–11$17K
Total revenueLn 12$469K
Assets in detailPt X, end of year
CashLn 1$131K
Cash and savings togetherLn 1–2$131K
Total assetsLn 16$131K
LiabilitiesLn 26$2K
Net assetsLn 32$128K
OperationsPt I, VI
EmployeesI 50
VolunteersI 612
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$137K$131K
Total assetsLn 16$137K$131K
LiabilitiesLn 26$0$2K
Net assetsLn 32$137K$128K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$26K$26K
Accounting feesLn 11c$1K$1K
Advertising and promotionLn 12$896$896
Office expensesLn 13$69$69
Information technologyLn 14$6K$6K
InsuranceLn 23$870$870
Other expenses (24a–d)Ln 24$440K$440K
All other expensesLn 24e$4K$4K
Total functional expensesLn 25$478K$466K$12K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 $425K$409K$16K$145K 990 PDF
FY2024 Viewing $469K$478K−$9K$128K 990 PDF
FY2023 $548K$552K−$3K$137K 990 PDF
FY2022 $372K$318K$54K$139K 990 PDF
FY2021 $51K$60K−$8K$87K 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 $469,495 across 5 lines filed
VIII-1f All other contributions, gifts and grants$52,837
VIII-1h Total contributions, gifts and grants$52,837
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $400,134$400,134
VIII-8 Net income from fundraising eventsExcluded from tax $16,524$16,524
VIII-12 Total revenueRelated to mission $400,134 · Unrelated business $0 · Excluded from tax $16,524$469,495
Part IX · Statement of functional expenses $478,373 across 8 lines filed
IX-1 Grants to domestic organizationsPrograms $26,138$26,138
IX-11c Accounting feesManagement $1,400$1,400
IX-12 Advertising and promotionManagement $896$896
IX-13 Office expensesManagement $69$69
IX-14 Information technologyManagement $5,512$5,512
IX-23 InsuranceManagement $870$870
IX-24 Other expenses (24a–d)Programs $439,740$439,740
IX-24e All other expensesManagement $3,748$3,748
IX-25 Total functional expensesPrograms $465,878 · Management $12,495 · Fundraising $0$478,373
Part X · Balance sheet $130,666 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $137,366$130,666
X-16 Total assetsStart of year $137,366$130,666
X-17 Accounts payable and accrued expenses$2,178
X-26 Total liabilitiesStart of year $0$2,178
X-27 Net assets without donor restrictionsStart of year $137,366$128,488
X-32 Total net assets or fund balancesStart of year $137,366$128,488
X-33 Total liabilities and net assetsStart of year $137,366$130,666
Part XI · Reconciliation of net assets $128,488 net assets at year end
XI-1 Total revenue$469,495
XI-2 Total expenses$478,373
XI-3 Revenue less expenses−$8,878
XI-4 Net assets at start of year$137,366
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$128,488

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

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