Foundations Cognitive Schools INC EIN 84-4788749 Form 990 (PDF) Claim this org

Foundations Cognitive Schools INC FY2022 filing

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Educates children with learning challenges to reach their full potential. For fiscal year 2022 it reported $831K in revenue, $833K in expenses, and $282K in net assets.Pt I

Founded
2020
Type
Public charity (501(c)(3)) · Education
Location
Rancho Santa Margarita, CA
Website
www.foundationscognitive.org
Filings
6 on file (2020–2022)
Revenue
$831KFY2022
Expenses
$833K
Net assets
$282K
People
6
Filings
6
Updates
0
More identity details & actions ⌄
EIN  84-4788749 Public charity (501(c)(3)) Rancho Santa Margarita, CA Founded 2020
Form 990 (PDF)
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →
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Size
$100K–1M
What they do
Educates children with learning challenges to reach their full potential.
Leadership
Jimelle Carlson · CFO · $126K
Money in and out
$831K revenue, $833K expenses
Bottom line
78% program efficiency
Where the money goes · FY2022
Total revenue
$831K
Pt VIII · Ln 12
Total expenses
$833K
Pt IX · Ln 25
Net assets
$282K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$1K
Where spending went · Part IX cols B–D
Program services $0.78 Management & general $0.23
Program efficiency
78%
of spending reaches programs
Operating runway
4.4mo
months of highly liquid reserves at operating expense rate
Surplus margin
-0.1%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Revenue
$831K
FY2022▲ +15%
Expenses
$833K
FY2022▲ +11%
Total assets
$322K
FY2022▲ +13%
Total liabilities
$40K
FY2022▲ ×21
Total revenue
$831K
Pt VIII · Ln 12
Total expenses
$833K
Pt IX · Ln 25
Net assets
$282K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$1K
Total assetsPt X · Ln 16$322K
Program-expense ratioPt IX · col B78%
Voting members of governing bodyPt I · Ln 33
Independent voting membersPt I · Ln 4pending
Mission & Programs · Part III

Where the work happens

2 program services account for $1.3M of program spending, described in the organization's own filed words · FY2022.
01

Classroom instruction to transform the brain, establishing capabilities that did not previously exist and, thus, begin to instill a newfound confidence and a love of learning. by strengthening cognitive capacities, students are able to work through tasks which were once incredibly challenging for them.

$651Kprogram expense
02

Classroom instruction to transform the brain, establishing capabilities that did not previously exist and, thus, begin to instill a newfound confidence and a love of learning. by strengthening cognitive capacities, students are able to work through tasks which were once incredibly challenging for them.

$647Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CFoundations Cognitive Schools INC
EINHdr · item D84-4788749
Principal addressHdr · item CRancho Santa Margarita, CA
WebsiteHdr · item Jwww.foundationscognitive.org
Year of formationHdr · item L2020
State of legal domicileHdr · item MCA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B28)
Ruling yearIRS BMFSep 2020

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a3
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$125,688Pt VII · Sec A
$125,688Pt VII · Sec A
$10,000Pt VII · Sec A
$10,000Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

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

NameFY2024FY2023FY2022FY2021
Jimelle Carlson$69,667$136,250$125,688$120,000
Michelle Krugh$10,000$16,500

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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Statement of Revenue

Part VIII
Program service revenue$766K · 92%
Contributions & grants$66K · 8%
Program service revenue92%$766K
Contributions & grants8%$66K
Total revenueLn 12$831K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.78 Management & general $0.23
Program services78%$651K
Management & general23%$190K
Total functional expensesLn 25$833K

Balance Sheet

Part X · end of year
CashLn 1$303K
Total assetsLn 16$322K
Total liabilitiesLn 26$40K
Total net assetsLn 32$282K
Months of cash on handcomputed4.4

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $303K · Operating expenses/yr $833K
4.4 months
Where the money goes
Program services
Program services $651K · Total expenses $833K
78%
Management & General
Management & general $181K · Total expenses $833K
22%
Fundraising
Fundraising $0 · Total expenses $833K
0%
Cost to raise $1
Fundraising expense (2-yr avg) $0 · Solicited contributions (2-yr avg) $67K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $66K · Total revenue $831K
8%
Government reliance
Government grants — · Total revenue $831K
Earned-income share
Program service revenue $766K · Total revenue $831K
92%
Investment reliance
Investment income $0 · Total revenue $831K
0%
Program self-sufficiency
Program service revenue $766K · Total expenses $833K
92%
Growth & trend
Revenue growth (YoY)
This year $831K · Prior year $721K
+15%
Net-asset trend (YoY)
End of year $282K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $831K · Expenses $833K
-0.1%
Liabilities-to-Assets
Total liabilities — · Total assets $322K
Net-asset ratio
Net assets $282K · Total assets $322K
88%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $322K
0%
People & payroll
Highest Reported Total Compensation
Individual Jimelle Carlson · Reported title CFO · Highest reported compensation $126K · Total expenses $833K
15%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $594K · Total expenses $833K
71%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 78%
Overhead ratio 23%
Fundraising cost ratio 0%
Revenue growth 15%
Investment management fee ratio 0%
Legal fee ratio 0%
Accounting fee ratio 0.6%
Fundraising fee ratio 0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2020
Total grants receivedfrom 1 funder$17K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$343K revenue · ⤓ 990 PDF
FY2024$449K revenue · ⤓ 990 PDF
FY2023$933K revenue · ⤓ 990 PDF
FY2022$831K revenue · viewing · ⤓ 990 PDF
FY2021$721K revenue · ⤓ 990 PDF
FY2020$659K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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