2024-12-05T09:02:13-05:00 2023-12-31 592482214 FRSCPA PLLC 1301 66TH ST N SAINT PETERSBURG FL 337105501 990 2023-01-01 311506065 ADMIRAL FARRAGUT ACADEMY FOUNDATION ADMI 7273845500 501 PARK STREET NORTH ST PETERSBURG FL 33710 JEFFREY GROSSMAN TREASURER 7273845503 2024-10-27 true false PAUL E HOROWITZ P01474269 7273471120 2024-10-27 2023 2024-10-15 13:58:12Z JEFFREY GROSSMAN 501 PARK STREET NORTH ST PETERSBURG FL 33710 330467 false X N/A X 1996 FL TO SOLICIT, RECEIVE AND ADMINISTER GIFTS AND FINANCIAL RESOURCES FROM SOURCES SOLELY FOR THE BENEFIT OF ADMIRAL FARRAGUT ACADEMY, INC. THE FOUNDATION OPERATES EXCLUSIVELY TO PROMOTE THE EDUCATIONAL, SCIENTIFIC, CULTURAL AND RECREATIONAL OBJECTIVES OF ADMIRAL FARRAGUT ACADEMY, INC. 8 8 0 7 -518 507070 193188 0 29773 53279 49153 48654 585996 295121 170000 1601576 0 0 0 16558 79752 50211 249752 1651787 336244 -1356666 4634556 3445907 390703 351874 4243853 3094033 TO SOLICIT, RECEIVE AND ADMINISTER GIFTS AND FINANCIAL RESOURCES FROM SOURCES SOLELY FOR THE BENEFIT OF ADMIRAL FARRAGUT ACADEMY, INC. false false 1613503 1601576 THE FOUNDATION FOR ADMIRAL FARRAGUT ACADEMY PLAYS A VERY IMPORTANT ROLE BY PROVIDING FUNDING AND SUPPORT FOR THE MISSION OF THE SCHOOL. 1613503 true true false false false false false false false true true false false false false true true true false false false false false false false false false true false false false false false false false false false false false false false false true true false false false true 0 0 0 true true false false false false false false false X 8 8 false false false false true true false true true false false true true true true true true false false false FL X X CYNDY BALLENGER 7273845500 501 PARK STREET NORTH ST PETERSBURG FL 33710 X ROBERT MATTHIES PRESIDENT 1.00 X X 0 0 0 JEFFREY GROSSMAN TREASURER 1.00 X X 0 0 0 JOE DISE BOARD MEMBER 1.00 X 0 0 0 KEVIN LOCKERBIE BOARD MEMBER 1.00 X X 0 0 0 THOMAS MILLER BOARD MEMBER 1.00 X 0 0 0 DAVID YOHO BOARD MEMBER 1.00 X 0 0 0 CHRISTIAN WAGNER BOARD MEMBER 1.00 X 0 0 0 false false false 193188 193188 53279 53279 84000 35346 48654 48654 -518 49172 295121 -518 102451 1601576 1601576 14278 14278 4369 4369 1500 1500 1579 1579 16558 16558 11927 11927 1651787 1613503 21726 16558 147288 241613 24114 24114 1507459 968877 97557 884349 871320 1900302 2209417 171044 99443 4634556 3445907 390703 351874 390703 351874 X 982887 1118087 3260966 1975946 4243853 3094033 4634556 3445907 X -1356666 201398 5448 X false true X true false X X 1 ADMIRAL FARRAGUT ACADEMY INC 593038365 2 true 1601576 0 1 1601576 0 true false false false false false false false false false false false false false false false true false 0 0 29762 53279 29762 53279 0 0 7491 4369 22271 48910 1915503 2054860 139081 194451 0 0 2054584 2249311 0 0 2054584 2249311 30819 33740 2023765 2215571 70832 77545 0 70832 77545 22271 18930 70832 70832 0 70832 1601576 0 0 0 0 0 1601576 0 70832 0.000000000000 70832 0 0 0 0 0 160003 160003 0 70832 0 89171 1601576 0 1601576 0 0 1690747 0 0 0 89171 1601576 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3011935 163991 250308 1596576 1829657 2990576 410525 -279166 110000 3011935 1637338 1129682 300456 76900 2990576 1522647 47324 142087 74720 1637338 2503765 92056 141854 1145881 86471 1505323 0.35410 0.11770 0.52820 false false 460775 460775 508102 97557 410545 871320 X 527496 201398 35346 236744 290752 4369 4369 295121 1677316 35346 35346 1641970 4369 5448 9817 1651787 SCHEDULE D, PAGE 2, PART V, LINE 4 THE FOUNDATION'S ENDOWMENT FUNDS ARE FUNDS RESTRICTED OR DESIGNATED FOR SPECIFIC PURPOSES. ENDOWMENT ASSETS CONSIST OF CASH AND INVESTMENTS. INCOME EARNED FROM THE ENDOWMENTS IS AVAILABLE FOR GENERAL OR SPECIFIC PURPOSES. AS OF DECEMBER 31, 2023, THE BOARD OF TRUSTEES HAD DESIGNATED 647,903 OF UNRESTRICTED NET ASSETS AS ENDOWMENT FUNDS TO SUPPORT VARIOUS PROGRAMS AT THE ACADEMY OR FOR THE ACADEMY'S STUDENTS. AS OF DECEMBER 31, 2023, DONORS RESTRICTED 966,500 OF PERMANENTLY RESTRICTED NET ASSETS AS ENDOWMENTS TO SUPPORT VARIOUS PROGRAMS OF THE FOUNDATION AND ACADEMY. EARNINGS ON THESE ENDOWMENT ASSETS ARE RESTRICTED UNTIL USED TO FULFILL DONOR OBJECTIVES, WHICH VARY BY FUND. SCHEDULE D, PAGE 3, PART X THE FOUNDATION FOLLOWS ACCOUNTING STANDARDS RELATING TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. MANAGEMENT ASSESSED WHETHER THERE WERE ANY UNCERTAIN TAX POSITIONS WHICH MAY GIVE RISE TO INCOME TAX LIABILITIES AND DETERMINED THAT THERE WERE NO SUCH MATTERS REQUIRING RECOGNITION IN THE ACCOMPANYING FINANCIAL STATEMENTS. GENERALLY, THE FOUNDATION IS NO LONGER SUBJECT TO U.S. FEDERAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE DECEMBER 31, 2020. SCHEDULE D, PAGE 4, PART XI, LINE 2D RENT EXPENSE NETTED WITH REVENUE 35,346 SCHEDULE D, PAGE 4, PART XII, LINE 2D RENT EXPENSE NETTED WITH REVENUE 35,346 SCHEDULE D, PAGE 4, PART XII, LINE 4B BOOK / TAX DEPRECIATION DIFFERENCE 5,448 true ADMIRAL FARRAGUT ACADEMY INC 501 PARK STREET NORTH ST PETERSBURG FL 33710 593038365 501C3 1601576 OPERATIONS SCHEDULE I, PAGE 1, PART I, LINE 2 THE ORGANIZATION PROVIDES GRANTS TO ADMIRAL FARRAGUT ACADEMY, INC, ITS SUPPORTED ORGANIZATION, AS REQUIRED TO MEET ITS OPERATIONAL NEEDS. DURING THE YEAR ENDED DECEMBER 31, 2023, THE ORGANIZATION FORGAVE A 1,500,000 LOAN TO ADMIRAL FARRAGUT ACADEMY, INC. FORM 990, PAGE 6, PART VI, LINE 6 THE MEMBERS OF THE BOARD ARE COMPRISED OF ADMIRAL FARRAGUT ALUMNI AND MEMBERS OF THE COMMUNITY. FORM 990, PAGE 6, PART VI, LINE 7A MEMBERS OF THE BOARD MEET PERIODICALLY TO DISCUSS AND DECIDE ACTIONS OF THE FOUNDATION. FORM 990, PAGE 6, PART VI, LINE 11B THE FORM 990 IS PRESENTED TO MEMBERS OF THE BOARD PRIOR TO FILING. FORM 990, PAGE 6, PART VI, LINE 12C ANY BOARD MEMBER WITH A CONFLICT OF INTEREST IS EXCLUDED FROM DISCUSSION AND VOTING ON THE MATTER. FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATION DOES NOT PROVIDE GOVERNING DOCUMENTS TO THE PUBLIC. FORM 990, PART XI, LINE 9 RENT EXPENSE NETTED WITH REVENUE 35,346 RENT EXPENSE NETTED WITH REVENUE -35,346 BOOK / TAX DEPRECIATION DIFFERENCE 5,448 TOTAL 5,448 FARRAGUT FOUNDATION PROPERTIES LLC 501 PARK STREET NORTH ST PETERSBURG FL 33710 593038365 RENTAL FL AFA FOUND ADMIRAL FARRAGUT ACADEMY FOUNDATION ADMIRAL FARRAGUT ACADEMY INC 501 PARK STREET NORTH ST PETERSBURG FL 33710 593038365 SCHOOL FL 501C3 2 N/A false false true false true false false false false false true false true false true true false false false false ADMIRAL FARRAGUT ACADEMY INC B 1601576 AMOUNT PAID ADMIRAL FARRAGUT ACADEMY INC D 7164000 YEAR END ACCOUNT BALANCE SCHEDULE R PART V, LINE 2, ITEMS N AND O - THE ACADEMY PROVIDES EMPLOYEES WHO PROVIDE SERVICES TO THE FOUNDATION, AND THE ACADEMY PROVIDES SPACE FOR USE BY THE FOUNDATION. THE FOUDNATION IS NOT CHARGED FOR THOSE EMPLOYEE SERVICES OR THE SPACE UTILIZED.