2025-05-08T07:45:57+00:00 2024-06-30 440160260 Forvis Mazars LLP 135 West 50th Street New York NY 10020 990EZ 2023-07-01 850683094 HB Foundation Inc HBFO 9144760600 14 W 170TH STREET BRONX NY 10452 KEVIN KEARNS CFO 2025-05-08 true true Aaron Shapiro P01333816 2128127000 2025-05-15 2023 2025-03-06 01:10:19Z X X X X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X SEE SCHEDULE O SEE SCHEDULE O 0 JOEL RIVERA CHAIRMAN 1.000 0 0 0 ROSA MERCADO SECRETARY 1.000 0 0 0 NILZA OYOLA DIRECTOR 1.000 0 0 0 SUSANA R LEON DIRECTOR 1.000 0 0 0 KEVIN KEARNS CHIEF FINANCIAL OFFICER 4.000 0 0 0 false false false false false false false false false NY KEVIN KEARNS 14 W 170TH STREET BRONX NY 10452 9144760600 false false false false false false false false false false false 0 true X X 1 FAMILY LIFE ACADEMY CHARTER SCHOOLS 134170389 2 true 0 0 1 0 0 true false false false false false false false false false false false false false false false true false X true true Schedule A, Part IV, Section E, Line 2a Org. Activities Directly Further The Exempt Purposes THE PURPOSE OF HB FOUNDATION, INC. IS TO ACQUIRE, DEVELOP, CONSTRUCT, OWN, LEASE, OPERATE AND MAINTAIN REAL PROPERTY ASSETS FOR THE BENEFIT OF TAX-EXEMPT CHARTER SCHOOLS LOCATED IN THE NEW YORK METROPOLITAN AREA AND TO PROVIDE SUPPLEMENTAL SUPPORT TO THOSE CHARTER SCHOOLS. THE BOARD OF DIRECTORS OF HB FOUNDATION WILL OVERSEE THESE REAL ESTATE ACTIVITIES. HB FOUNDATION ANTICIPATES THAT IT WILL INITIALLY DEVOTE 100% OF ITS COLLECTIVE TIME TO THESE REAL ESTATE ACTIVITIES; ALL OF HB FOUNDATION'S OVERALL EXPENSES WILL BE ALLOCATED TO ITS ACTIVITIES. Schedule A, Part IV, Section E, Line 2b Activities That One Or More Supp. Org. Engaged In HB FOUNDATION'S PLANNED ACTIVITIES ARE IN FURTHERANCE OF ITS TAX-EXEMPT PURPOSES OF PROVIDING REAL ESTATE ASSETS AND SUPPORT TO TAX-EXEMPT CHARTER SCHOOLS OPERATING IN THE NEW YORK METROPOLITAN AREA. FLACS IS A TAX-EXEMPT APPROVED CHARTER SCHOOL THAT HAS BEEN OPERATING IN THE BRONX, NEW YORK, SINCE 2001. CONSISTENT WITH ITS MISSION, FLACS EDUCATES APPROXIMATELY 1,400 STUDENTS IN KINDERGARTEN THROUGH GRADE EIGHT. IN 2012 AND 2014, FLACS EXPANDED TO INCLUDE A SECOND AND THIRD SCHOOL RESPECTIVELY. IN 2019, FLACS OPENED A MIDDLE SCHOOL CAMPUS FOR ALL ITS ELEMENTARY STUDENTS TO ATTEND. FINALLY, FLACS HAS OBTAINED APPROVAL TO OPEN A FOURTH SCHOOL BEGINNING IN 2021. HB FOUNDATION INTENDS TO PROVIDE FLACS WITH THE REAL ESTATE FACILITIES IT REQUIRES TO SUPPORT ITS GROWTH. Form 990-EZ, Part III, Line 28, Description STATEMENT ON PROGRAM SERVICE ACCOMPLISHMENTS THE PURPOSE OF HB FOUNDATION, INC. IS TO ACQUIRE, DEVELOP, OWN, LEASE, OPERATE AND MAINTAIN REAL PROPERTY ASSETS FOR THE BENEFITS OF TAX-EXEMPT CHARTER SCHOOLS LOCATED IN THE NEW YORK METROPOLITAN AREA AND TO PROVIDE SUPPLEMENTAL SUPPORT TO THOSE CHARTER SCHOOLS. Form 990-EZ, Part III, Exempt Purpose ORGANIZATION'S PRIMARY EXEMPT PURPOSE THE PURPOSE OF HB FOUNDATION, INC. IS TO ACQUIRE, DEVELOP, OWN, LEASE, OPERATE AND MAINTAIN REAL PROPERTY ASSETS FOR THE BENEFITS OF TAX-EXEMPT CHARTER SCHOOLS LOCATED IN THE NEW YORK METROPOLITAN AREA AND TO PROVIDE SUPPLEMENTAL SUPPORT TO THOSE CHARTER SCHOOLS.