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Quixote Foundation FY2023 filing

Tax-deductible

Sumter, SC501(c)(3)EducationEIN 85-0997197Revenue $915K in FY2023

On file with the IRS100 N Main St, 29150-4948 · Sumter, SCTax-exempt since Feb 2021Supporting org, Type II — 509(a)(3)

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Quixote Foundation is set up as a type II supporting organization exclusively for the benefit of liberty steam charter school and to carry out liberty steam charter school's program initiatives that support the broader community of sumter, south carolina.

501(c)(3) charity; gifts are tax-deductible.
95¢ 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
4 of 4
filings with a surplus
Average surplus $797K a year · 64% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
95%
of spending
Looks good: 95% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
11 mo
of spending, in cash
Looks good: 11.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
5
named funders · $60K
Looks good: 5 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$4.9M
72% of total assets
Worth a look: liabilities are 72% of assets; over 65%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$915K
+177% vs prior year
Spent
$337K
To programs
95%
Net assets
$1.9M
By yearFY2021–FY2025
Revenue
$915K
FY2023▲ +177%
Tap a bar for its year
Revenue by fiscal year
FY2021$330K
FY2023$915K
FY2024$1.6M
FY2025$2.1M
Expenses
$337K
FY2023▲ ×523
Tap a bar for its year
Expenses by fiscal year
FY2021$643
FY2023$337K
FY2024$648K
FY2025$819K
Net assets
$1.9M
FY2023▲ +490%
Tap a bar for its year
Net assets by fiscal year
FY2021$329K
FY2023$1.9M
FY2024$2.9M
FY2025$4.2M

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

990 PDF Claim
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 2021.

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

Where the money goes

95 cents of each dollar spent went to programs.

Program services 95% · $318K Management & general 2% · $6K Fundraising 4% · $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

9 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Cammy Chandler
School Direc
$0Pt VII · Sec A
Dexter Davis
School Direc
$0Pt VII · Sec A
Jenny Knopf
School Direc
$0Pt VII · Sec A
Gifford Shaw
At-Large Dir
$0Pt VII · Sec A
Danielle Thompson
At-Large Dir
$0Pt VII · Sec A
Greg Thompson
School Direc
$0Pt VII · Sec A
Lewis Thompson
At-Large Dir
$0Pt VII · Sec A
Curtis Hutto
Treasurer
$0Pt VII · Sec A
See Quixote 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Supports Liberty STEAM Charter School's community programs in Sumter, South Carolina.

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Provided by the organization

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1 program · $318K · in their own filed words · FY2022
01

To support the liberty steam charter school

$318Kprogram 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 · FY2024
Jim Hudson FoundationFY2024$25K
Fidelity Investments Charitable Gift FundFY2024$10K
Central Carolina Community FoundationFY2024$10K
Natl Christian Charitable Fdn INCFY2024$10K
Morgan Stanley Global Impact Funding Trust INCFY2024$5K
Total grants receivedfrom 5 funders$60K
See all 5 funders →

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$915K
Ln 12
Gifts and grantsLn 1h$914K
Investment incomeLn 3$311
Money outPt IX
$337K
Ln 25
Programscol B$318K
Managementcol C$6K
Fundraisingcol D$12K
Owns and owesPt X
$1.9M
net assets · Ln 32
Cash and savingsLn 1–2$319K
Total assetsLn 16$6.8M
LiabilitiesLn 26$4.9M
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$914K
Investment incomeLn 3$311
Gains on assetsLn 7$149
Total revenueLn 12$915K
Assets in detailPt X, end of year
CashLn 1$16K
SavingsLn 2$303K
Cash and savings togetherLn 1–2$319K
Land, buildings, equipmentLn 10c$6.5M
Total assetsLn 16$6.8M
LiabilitiesLn 26$4.9M
Net assetsLn 32$1.9M
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$514K$319K
Land, buildings, equipmentLn 10c$6.7M$6.5M
Total assetsLn 16$7.2M$6.8M
LiabilitiesLn 26$5.8M$4.9M
Net assetsLn 32$1.4M$1.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$5K$5K
Advertising and promotionLn 12$12K$12K
OccupancyLn 16$144K$144K
Depreciation, depletion and amortizationLn 22$174K$174K
Other expenses (24a–d)Ln 24$988$988
Total functional expensesLn 25$337K$318K$6K$12K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $2.1M$819K$1.3M$4.2M 990 PDF
FY2024 $1.6M$648K$1.0M$2.9M 990 PDF
FY2023 Viewing $915K$337K$578K$1.9M 990 PDF
FY2022 Not on file
FY2021 $330K$643$329K$329K 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 $914,790 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,213,081$914,479
I-9 Program service revenue$0
I-10 Investment incomePrior year $184$311
I-11 Other revenue$0
I-12 Total revenuePrior year $1,213,265$914,790
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $178,309$336,558
I-18 Total expensesPrior year $178,309$336,558
I-19 Revenue less expensesPrior year $1,034,956$578,232
Part VI · Governance 7 of 7 board members independent, 3 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $914,790 across 5 lines filed
VIII-1f All other contributions, gifts and grants$914,479
VIII-1h Total contributions, gifts and grants$914,479
VIII-3 Investment incomeExcluded from tax $162$162
VIII-7 Net gain or loss on sales of assetsRelated to mission $149$149
VIII-12 Total revenueRelated to mission $149 · Excluded from tax $162$914,790
Part IX · Statement of functional expenses $336,558 across 5 lines filed
IX-11c Accounting feesManagement $5,108$5,108
IX-12 Advertising and promotionFundraising $12,000$12,000
IX-16 OccupancyPrograms $143,969$143,969
IX-22 Depreciation, depletion and amortizationPrograms $174,493$174,493
IX-24 Other expenses (24a–d)Management $988$988
IX-25 Total functional expensesPrograms $318,462 · Management $6,096 · Fundraising $12,000$336,558
Part X · Balance sheet $6,839,621 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $514,198$15,732
X-2 Savings and temporary cash investments$302,827
X-10c Land, buildings and equipment, netStart of year $6,671,839$6,498,729
X-14 Intangible assets$22,333
X-16 Total assetsStart of year $7,187,673$6,839,621
X-25 Other liabilitiesStart of year $5,823,311$4,897,027
X-26 Total liabilitiesStart of year $5,823,311$4,897,027
X-27 Net assets without donor restrictionsStart of year $1,364,362$1,942,594
X-32 Total net assets or fund balancesStart of year $1,364,362$1,942,594
X-33 Total liabilities and net assetsStart of year $7,187,673$6,839,621
Part XI · Reconciliation of net assets $1,942,594 net assets at year end
XI-1 Total revenue$914,790
XI-2 Total expenses$336,558
XI-3 Revenue less expenses$578,232
XI-4 Net assets at start of year$1,364,362
XI-10 Net assets at end of year$1,942,594

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

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