Foundation Academy Studio School FY2023 filing

Tax-deductible

Jacksonville, FL501(c)(3)EducationEIN 82-3895024Revenue $460K in FY2023

On file with the IRStfastudioschool.org3675 San Pablo Rd S, 32224-3803 · Jacksonville, FLTax-exempt since Feb 2019School — 170(b)(1)(A)(ii)

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To provide life-skills and career readiness education leading to certifications, paid internships and college enrollment and to deliver educational and vocational prospects developed in collaboration with employers.

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · 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
1 of 4
filings with a surplus
Average deficit $55K a year · 15% of revenue · last 4 filings
Concern: a surplus in 1 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Fine: 2.9 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $5K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$198K
89% of total assets
Concern: liabilities are 89% of assets; over 80%.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$460K
+102% vs prior year
Spent
$300K
To programs
84%
Net assets
$24K
By yearFY2021–FY2025
Revenue
$460K
FY2023▲ +102%
Tap a bar for its year
Revenue by fiscal year
FY2021$54K
FY2022$228K
FY2023$460K
FY2024$335K
FY2025$437K
Expenses
$300K
FY2023▲ +18%
Tap a bar for its year
Expenses by fiscal year
FY2021Not on file
FY2022$254K
FY2023$300K
FY2024$487K
FY2025$637K
Net assets
$24K
FY2023▲ +118%
Tap a bar for its year
Net assets by fiscal year
FY2021−$109K
FY2022−$135K
FY2023$24K
FY2024−$128K
FY2025−$327K

From the FY2023 Form 990 (year ending June 2023) · see the original

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You’re viewing the FY2023 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 Feb 2019.

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

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $252K Management & general 16% · $48K

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

5 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Board Member
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Vice Preside
$0Pt VII · Sec A
See Foundation Academy Studio School 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

Offers education and training for jobs, internships, and college.

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Provided by the organization

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1 program · $252K · in their own filed words · FY2022
01

Tfa studio school programming provides skill building through academic and vocational experiences that are inclusive of executive functioning, mindfulness, and healthy life choice activities. Applied learning solidifies the experience for our population to meet the needs of the youth.

$252Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2025
Total grants receivedfrom 1 funder$5K

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$460K
Ln 12
Gifts and grantsLn 1h$448K
Fees for servicesLn 2g$12K
Money outPt IX
$300K
Ln 25
Programscol B$252K
Managementcol C$48K
Owns and owesPt X
$24K
net assets · Ln 32
Cash and savingsLn 1–2$72K
Total assetsLn 16$222K
LiabilitiesLn 26$198K
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$448K
Government grantsLn 1e$218K
Noncash giftsLn 1g$195K
Fees for servicesLn 2g$12K
Total revenueLn 12$460K
Assets in detailPt X, end of year
CashLn 1$72K
Cash and savings togetherLn 1–2$72K
Land, buildings, equipmentLn 10c$150K
Total assetsLn 16$222K
LiabilitiesLn 26$198K
Net assetsLn 32$24K
OperationsPt I, VI
EmployeesI 523
VolunteersI 6125
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 FY23End FY23
Cash and savingsLn 1–2$19K$72K
Land, buildings, equipmentLn 10c$150K
Total assetsLn 16$20K$222K
LiabilitiesLn 26$155K$198K
Net assetsLn 32−$135K$24K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$148K$133K$15K
Payroll taxesLn 10$29K$26K$3K
Accounting feesLn 11c$19K$10K$9K
Other fees for servicesLn 11g$9K$360$8K
Advertising and promotionLn 12$430$430
Office expensesLn 13$500$500
OccupancyLn 16$57K$57K
InsuranceLn 23$11K$5K$6K
Other expenses (24a–d)Ln 24$26K$21K$6K
All other expensesLn 24e$281$257$24
Total functional expensesLn 25$300K$252K$48K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $437K$637K−$200K−$327K 990 PDF
FY2024 $335K$487K−$152K−$128K 990 PDF
FY2023 Viewing $460K$300K$159K$24K 990 PDF
FY2022 $228K$254K−$27K−$135K 990 PDF
FY2021 $54K−$109K 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 FY2023 990 (6 parts)
Part I · Summary $459,785 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $227,655$447,605
I-9 Program service revenue$12,180
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $227,655$459,785
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $118,047$176,590
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $136,142$123,861
I-18 Total expensesPrior year $254,189$300,451
I-19 Revenue less expensesPrior year −$26,534$159,334
Part VI · Governance 5 of 5 board members independent, 4 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $459,785 across 6 lines filed
VIII-1e Government grants$217,720
VIII-1f All other contributions, gifts and grants$229,885
VIII-1g Noncash contributions (included above)$195,000
VIII-1h Total contributions, gifts and grants$447,605
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $12,180$12,180
VIII-12 Total revenueRelated to mission $12,180$459,785
Part IX · Statement of functional expenses $300,451 across 10 lines filed
IX-7 Other salaries and wagesPrograms $133,008 · Management $14,779$147,787
IX-10 Payroll taxesPrograms $25,923 · Management $2,880$28,803
IX-11c Accounting feesPrograms $10,139 · Management $9,325$19,464
IX-11g Other fees for servicesPrograms $360 · Management $8,452$8,812
IX-12 Advertising and promotionManagement $430$430
IX-13 Office expensesPrograms $500$500
IX-16 OccupancyPrograms $57,023$57,023
IX-23 InsurancePrograms $4,588 · Management $6,412$11,000
IX-24 Other expenses (24a–d)Programs $20,569 · Management $5,782$26,351
IX-24e All other expensesPrograms $257 · Management $24$281
IX-25 Total functional expensesPrograms $252,367 · Management $48,084 · Fundraising $0$300,451
Part X · Balance sheet $222,163 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $19,208$72,163
X-10c Land, buildings and equipment, net$150,000
X-16 Total assetsStart of year $20,208$222,163
X-17 Accounts payable and accrued expensesStart of year $87$4,087
X-24 Unsecured notes and loans payableStart of year $155,181$193,802
X-26 Total liabilitiesStart of year $155,268$197,889
X-27 Net assets without donor restrictionsStart of year −$135,060$24,274
X-32 Total net assets or fund balancesStart of year −$135,060$24,274
X-33 Total liabilities and net assetsStart of year $20,208$222,163
Part XI · Reconciliation of net assets $24,274 net assets at year end
XI-1 Total revenue$459,785
XI-2 Total expenses$300,451
XI-3 Revenue less expenses$159,334
XI-4 Net assets at start of year−$135,060
XI-10 Net assets at end of year$24,274

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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