Limestone Charter Association FY2024 filing

Columbia, SCUnknown exempt organizationSince 2021EIN 87-1977985

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Our mission is to serve as the cornerstone of Charter school authorizing in SC and to facilitate a positive educational environment that fosters school autonomy through support and oversight to our member schools.

99¢ of each $1 spent went to programs.
$589K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
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 3
filings with a surplus
Average deficit $22K a year · under 1% of revenue · last 3 filings
Concern: a surplus in 1 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$589K
to officers and key staff · 0.7% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Concern: 0.1 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.6M
127% of total assets
Concern: liabilities are 127% of assets; over 80%.
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
$87.6M
+138% vs prior year
Spent
$87.6M
To programs
99%
Net assets
−$346K
By yearFY2023–FY2025
Revenue
$87.6M
FY2024▲ +138%
Revenue by fiscal year
FY2023$22.3M
FY2024$36.8M
FY2024$87.6M
FY2025$80.1M
Expenses
$87.6M
FY2024▲ +138%
Expenses by fiscal year
FY2023$22.7M
FY2024$36.9M
FY2024$87.6M
FY2025$79.8M
Net assets
−$346K
FY2024▲ +16%
Net assets by fiscal year
FY2023−$331K
FY2024−$411K
FY2024−$346K
FY2025$0

From the FY2024 Form 990 · see the original

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

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $86.7M Management & general 1% · $871K Fundraising 0% · $10K

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

10 people listed on the 990; $589K paid to officers and key staff.

Part VII, Section A · reportable compensation
Superintendent
$219,242Pt VII · Sec A
Dep Sup. of Finance
$132,555Pt VII · Sec A
Exec. Dr Auth/Dev.
$122,494Pt VII · Sec A
Dep Superintendent
$114,902Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A

Compensation history total reportable pay by year · 6 named individuals · Part VII

NameFY2025FY2024FY2024FY2023
Angel Malone$263,288$219,242$191,733$199,858
Donna Manning$132,683$122,494$106,730—
Tabitha Taneyhill$132,580$114,902——
Kelly Richardson$122,100$132,555$115,545—
Tracey Cline$116,696———
Fran Metta$105,019———

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.

See Limestone Charter Association 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

Authorizes and supports charter schools in South Carolina.

Provided by the organization

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1 program · $86.7M · in their own filed words · FY2024
01

In fy 2025, limestone charter association added 6 new schools, for a total of 13 schools and increased enrollment from 2,875 students to 7,265 students.

$86.7Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 42 grants · $219.8M · 2022–2025
Horse Creek AcademySC · FY2025$13,177,424
SC Leadership Preparatory SchoolFY2025$6,419,849
Global Academy of South CarolinaSC · FY2025$5,798,245
Atlantic Collegiate AcademyFL · FY2025$5,384,169
Oceanside Collegiate Academy INCFL · FY2025$5,275,951
Legion Collegiate AcademyFL · FY2025$5,183,129
Mountain View PreparatorySC · FY2025$5,046,138
Discovery School of Myrtle BeachSC · FY2025$4,939,591
Goucher Charter SchoolSC · FY2025$3,156,726
Coastal High SchoolSC · FY2025$2,807,021
East Link AcademySC · FY2025$2,287,915
Horse Creek Academy-KershawSC · FY2025$2,012,767
Colearn South CarolinaSC · FY2025$1,363,034
Horse Creek AcademySC · FY2024$17,053,691
See all 42 grants →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$87.6M
Ln 12
Gifts and grantsLn 1h$86.0M
Fees for servicesLn 2g$1.7M
Money outPt IX
$87.6M
Ln 25
Programscol B$86.7M
Managementcol C$871K
Fundraisingcol D$10K
Owns and owesPt X
−$346K
net assets · Ln 32
Cash and savingsLn 1–2$414K
Total assetsLn 16$1.3M
LiabilitiesLn 26$1.6M
PeoplePt VI, VII
10
listed · VII A
PaidVII A4
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$86.0M
Government grantsLn 1e$85.9M
Fees for servicesLn 2g$1.7M
Total revenueLn 12$87.6M
Assets in detailPt X, end of year
CashLn 1$414K
Cash and savings togetherLn 1–2$414K
Other assetsLn 15$845K
Total assetsLn 16$1.3M
LiabilitiesLn 26$1.6M
Net assetsLn 32−$346K
OperationsPt I, VI
EmployeesI 514
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
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$336K$414K
Total assetsLn 16$825K$1.3M
LiabilitiesLn 26$1.2M$1.6M
Net assetsLn 32−$411K−$346K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$85.4M$85.4M
Grants to domestic individualsLn 2$15K$15K
Pay of current officers, directors and key staffLn 5$340K$160K$170K$10K
Other salaries and wagesLn 7$1.0M$715K$331K
Pension plan contributionsLn 8$46K$35K$11K
Other employee benefitsLn 9$62K$53K$9K
Payroll taxesLn 10$104K$75K$29K
Legal feesLn 11b$167K$167K
Accounting feesLn 11c$23K$23K
Lobbying feesLn 11d$40K$40K
Other fees for servicesLn 11g$68K$44K$24K
Office expensesLn 13$31K$4K$27K
Information technologyLn 14$167K$155K$12K
OccupancyLn 16$25K$25K
TravelLn 17$57K$38K$19K
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$29K$22K$7K
Total functional expensesLn 25$87.6M$86.7M$871K$10K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $80.1M$79.8M$346K$0 990 PDF
FY2024 $36.8M$36.9M−$79K−$411K 990 PDF
FY2023 $22.3M$22.7M−$331K−$331K 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 $87,644,916 across 5 lines filed
VIII-1e Government grants$85,947,769
VIII-1f All other contributions, gifts and grants$20,999
VIII-1h Total contributions, gifts and grants$85,968,768
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,676,148$1,676,148
VIII-12 Total revenueRelated to mission $1,676,148 · Unrelated business $0 · Excluded from tax $0$87,644,916
Part IX · Statement of functional expenses $87,580,268 across 17 lines filed
IX-1 Grants to domestic organizationsPrograms $85,357,935$85,357,935
IX-2 Grants to domestic individualsPrograms $15,250$15,250
IX-5 Pay of current officers, directors and key staffPrograms $159,500 · Management $170,000 · Fundraising $10,500$340,000
IX-7 Other salaries and wagesPrograms $715,469 · Management $330,928$1,046,397
IX-8 Pension plan contributionsPrograms $34,689 · Management $11,200$45,889
IX-9 Other employee benefitsPrograms $52,770 · Management $9,406$62,176
IX-10 Payroll taxesPrograms $75,073 · Management $28,593$103,666
IX-11b Legal feesManagement $167,060$167,060
IX-11c Accounting feesManagement $22,700$22,700
IX-11d Lobbying feesManagement $40,000$40,000
IX-11g Other fees for servicesPrograms $43,848 · Management $23,948$67,796
IX-13 Office expensesPrograms $3,545 · Management $27,409$30,954
IX-14 Information technologyPrograms $155,048 · Management $12,015$167,063
IX-16 OccupancyPrograms $24,863$24,863
IX-17 TravelPrograms $38,355 · Management $18,622$56,977
IX-23 InsuranceManagement $2,253$2,253
IX-24 Other expenses (24a–d)Programs $21,970 · Management $7,319$29,289
IX-25 Total functional expensesPrograms $86,698,315 · Management $871,453 · Fundraising $10,500$87,580,268
Part X · Balance sheet $1,260,966 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $336,488$413,550
X-9 Prepaid expenses and deferred chargesStart of year $1,950$2,001
X-15 Other assetsStart of year $486,990$845,415
X-16 Total assetsStart of year $825,428$1,260,966
X-17 Accounts payable and accrued expensesStart of year $15,093$29,311
X-25 Other liabilitiesStart of year $1,220,894$1,577,566
X-26 Total liabilitiesStart of year $1,235,987$1,606,877
X-32 Total net assets or fund balancesStart of year −$410,559−$345,911
X-33 Total liabilities and net assetsStart of year $825,428$1,260,966
Part XI · Reconciliation of net assets −$345,911 net assets at year end
XI-1 Total revenue$87,644,916
XI-2 Total expenses$87,580,268
XI-3 Revenue less expenses$64,648
XI-4 Net assets at start of year−$410,559
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$345,911

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

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