2025-05-15T15:59:05-04:00 2024-06-30 WithumSmithBrown PC ONE TOWER CENTER BLVD 14TH FL EAST BRUNSWICK NJ 08816 990 2023-07-01 272091277 The Friends of Foundation Academy Inc % DONALD HOFMANN FRIE 6099209200 363 W State St Trenton NJ 08618 Donald Hofmann Board Chair 6099209200 2024-12-31 true true Brad Caruso P01249134 7328281614 2023 2025-03-06 01:10:19Z Donald Hofmann 363 W State St Trenton NJ 08618 1308775 false X WWW.FOUNDATIONACADEMIES.ORG X 2010 NJ support Foundation Academies by raising funds & delivering services, programs, acquisitions, and partnerships that equitably serve the best interests of our school community. 8 8 0 8 0 617692 417270 790112 785176 46515 106329 0 0 1454319 1308775 96793 85501 0 0 0 0 0 0 98156 976971 1164436 1073764 1249937 380555 58838 16794017 17294993 13987644 14424970 2806373 2870023 THE FRIENDS OF FOUNDATION ACADEMIES SUPPORTS, ENHANCES, AND PROMOTES THE WORK OF FOUNDATION ACADEMIES BY RAISING FUNDS AND DELIVERING SERVICES, PROGRAMS,AND PARTNERSHIPS THAT EQUITABLY SERVE THE BEST INTERESTS OF OUR SCHOOL COMMUNITY. false false 828529 785176 Under NJ law, charter schools may not build facilities with public funds. To expand and improve our high school facilities, the Friends of Foundation Academies purchased the neighboring vacant Holy Cross rectory site and spent the better part of the 2018-19 school year constructing a new 10,217 square foot addition in the city's south ward. The existing school building received a complete HVAC, electrical, and interior upgrade. The Friends of FA proudly owns and maintains the high school campus and leases it back to the school. 85501 85501 Throughout college, there are several crucial moments that can put a student at risk of leaving school. The purpose of the Friends of Foundation Academy Knight Fund is to assist FAC alumni, currently enrolled in college or post-secondary institutions, in managing financial hardships that can hinder students from entering or persisting through their post-secondary schooling and careers. Through donations to the Friends of Foundation Academy, Inc, the Knight Fund provides awards, persistence grants and scholarships to deserving alumni. 135052 Funds raised by the Friends of FA help to fill the stark public funding gap between FA and our district counterparts. Support from donations to the Friends provides high-quality enrichment opportunities for students and drives the training, development, and celebration of our remarkable faculty. 1049082 true false false false false false false false false false true false true true false true true false false false false false false false false false false false true false true false false false false false false false false false false false false false false false false false false false true 9 0 true 0 false false false false false false false false false false false false X 8 8 false false false false false false false true true false false true true true true true true false false false NJ X X DONALD HOFMANN 6099209200 363 W STATE ST TRENTON NJ 08618 X Donald Hofmann Board Chair 4.0 0.0 X X 0 0 0 Reid McCarthy Treasurer (Term 6-30-2024) 4.0 0.0 X X 0 0 0 Anthony Klockenbrink Secretary 4.0 0.0 X X 0 0 0 Betsy Rendall BOARD MEMBER 1.0 0.0 X 0 0 0 Dr Fitzroy Dawkins BOARD MEMBER 1.0 0.0 X 0 0 0 Howard Powers BOARD MEMBER (Term 6-30-2024) 1.0 0.0 X 0 0 0 Jorgen Bundgaard Hansen BOARD MEMBER 1.0 0.0 X 0 0 0 Andre Moore BOARD MEMBER 1.0 0.0 X 0 0 0 0 0 0 0 false false false 0 417270 417270 RENTAL INCOME 531120 785176 785176 785176 106271 106271 0 0 0 0 0 58 58 58 58 0 0 0 0 0 0 0 0 0 0 1308775 785176 106329 0 85501 85501 0 0 0 0 0 0 0 0 0 39169 21697 17472 45238 45238 0 0 0 95218 13300 81918 25558 18199 7359 29179 18318 2638 8223 0 0 0 16957 133 16824 0 0 634087 634087 0 0 8359 6513 1190 656 STUDENT ENRICHMENT 135052 135052 RECRUITMENT 135619 116282 19337 1249937 1049082 102699 98156 X 647528 241619 813058 130562 213712 43693 250 0 0 0 0 0 0 0 0 0 19234 15735 1120224 0 1120224 0 639318 0 0 13467169 13447264 0 0 1633066 1656578 16794017 17294993 347236 896765 181216 200826 0 0 13459192 13327379 0 0 0 0 0 0 0 0 0 0 13987644 14424970 X 2526027 2633042 280346 236981 2806373 2870023 16794017 17294993 58838 4812 X false true X true false X 423212 424101 433554 617692 417270 2315829 0 0 423212 424101 433554 617692 417270 2315829 588842 1726987 59719 2229 776 42024 106271 211019 0 0 2526848 4409522 0.68346 0.67497 X 1120224 1120224 1120224 LEASE RECEIVABLE 13291491 C DEFERRED GAIN/LEASE 155773 C 13447264 RESTRICTED CASH 1656578 1656578 0 0 X 1449581 4812 135994 140806 1308775 1308775 1385931 135994 135994 1249937 1249937 Form 990, Schedule D, Part X, Line 2 The Organization is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code is exempt from state taxes under state law. There were no uncertain tax positions at June 30, 2024 and 2023. The Organization had no interest or penalties for the years ended June 30, 2024 and 2023. true SCHOLARSHIPS 12 85501 Book value Scholarships Pt I Line 2 A COMMITTEE REVIEWS AND SELECTS SCHOLARSHIP RECIPIENTS. A STUDENT IDENTIFICATION NUMBER AND PROOF OF ENROLLMENT IN TECHNICAL COLLEGE, COMMUNITY COLLEGE, OR UNIVERSITY ARE REQUIRED BEFORE FUNDING IS REMITTED TO THE INSTITUTION FOR THE BENEFIT OF THE STUDENT.EMERGENCY FUNDING IS AWARDED BASED ON A VALID NEED. A NJ ECONOMIC DEVELOPMENT AUTHORITY 222045817 645912EH5 2018-07-25 13926006 FUND CAPITAL PROJECT false false false A 370000 0 13926006 1052281 732376 0 261300 0 0 12067389 0 0 2020 false false true true A false false false false 0 false false false true A false true false false 0 false 0 false true A true Form 990, Schedule O - Supplemental Information Pt VI, Line 11b: THE BOARD OF DIRECTORS IS GIVEN A DRAFT COPY OF THE 990 AS PREPARED BY OUR AUDITING AND TAX PREPARATION FIRM PRIOR TO THE BOARD MEETING WHERE IT IS TO BE DISCUSSED. THE DRAFT COPY IS EITHER EMAILED (PASSWORD PROTECTED) OR VIA REGULAR MAIL, DEPENDING ON THE PREFERENCE OF EACH BOARD MEMBER. THE 990 IS PRESENTED AT THE BOARD MEETING, EITHER BY A REPRESENTATIVE OF THE TAX PREPARATION FIRM, OR THE ORGANIZATION'S EXECUTIVE DIRECTOR. BOARD MEMBERS ARE GIVEN THE OPPORTUNITY TO ASK QUESTIONS OR REQUEST MORE DETAIL ON ANY ISSUES THAT THEY ARE UNCLEAR ABOUT, BOTH PRIOR TO THE MEETING AND DURING THE MEETING. IF THE BOARD MEMBERS ARE SATISFIED WITH THE REPORT, THEN THEY VOTE TO APPROVE THE 990 AS IT WAS PRESENTED. Pt VI, Line 12c: EACH BOARD MEMBER IDENTIFIES CONFLICTS OF INTEREST ON AN ANNUAL BASIS IN WRITING. BOARD MEMBERS ARE REMINDED OF ANY CONFLICTS OF INTEREST PRIOR TO VOTING ON ISSUES AND ASKED TO RECUSE THEMSELVES IN THE EVENT THEY ARE NOT INDEPENDENT. Pt VI, Line 18: THE ORGANIZATION MAKES THEIR 990 AND FORM 1023 AVAILABLE TO THE PUBLIC UPON REQUEST. ONCE COMPLETE, THE ORGANIZATION UPLOADS THEIR 990 TO GUIDESTAR. Pt VI, Line 19: In addition to publishing via guidestar, THE ORGANIZATION MAKES THEIR GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.