2026-02-25T16:13:46-06:00 2024-06-30 580692043 Mauldin & Jenkins LLC 6600 Abercorn St Suite 200 Savannah GA 31405 990 2023-07-01 921753364 Friends of TIMA Inc FRIE 7579712434 714 Lovell Avenue Tybee Island GA 31328 LAURA SOLOMON President 7579712434 2026-02-23 1 0 Bridget Bush P00234609 9122320475 2026-02-19 2023 2025-03-06 01:10:19Z Laura Solomon 714 Lovell Avenue Tybee Island GA 31328 90400 0 X tybeeislandmaritimeacademy.com X 2022 GA To support Tybee Island Maritime Academy and hold assets for the school's benefit. 4 4 0 4 0 0 500000 90400 0 0 0 0 0 0 500000 90400 0 0 0 0 0 0 0 0 0 0 0 0 0 500000 90400 500000 590400 0 0 500000 590400 X Friends of TIMA, Inc. is a supporting public charity created exclusively for the benefit of Tybee Island Charter School Inc. doing business as (dba) Tybee Island Maritime Academy (TIMA), a 501(c)(3) public charity. (Continued at Schedule O).Friends of TIMA, Inc. assists TIMA through fundraising and fund management; by making grants, gifts, and other distributions to TIMA; and by engaging in other activities that further and support TIMA's charitable purposes. 0 0 To support Tybee Island Maritime Academy and hold assets for the school's benefit. 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 X 4 4 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 GA X The Organization 7579712434 714 Lovell Avenue Tybee Island GA 31328 X Laura Solomon President 1.00 X X 0 0 0 Rachel Davies Secretary 1.00 X X 0 0 0 Cara Cole Treasurer 1.00 X X 0 0 0 Brigitte VanBaelen Dir & TIMA Board Liason 1.00 X 0 0 0 0 0 0 0 0 0 0 0 90400 90400 90400 0 0 0 0 0 0 0 90400 500000 0 500000 500000 500000 590400 0 0 X 500000 590400 500000 590400 500000 590400 90400 0 X 0 0 0 X X 1 Tybee Island Charter School Inc dba Tybee Island Maritime Academy 451500099 2 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 500000 500000 500000 Schedule D, Part X, Line 1 and Form 990, Part IV, line 11f: The organization has no uncertain tax positions under FIN 48 (ASC 740-10). Form 990, Part VI, Section B, line 11b A copy of the form 990 is provided to all board members prior to filing with the IRS. Form 990, Part VI, Section B, line 12c Directors shall disclose any potential conflict of interest to the Board. Directors shall submit completed conflict of interest forms on an annual basis and update these records as needed. Directors shall abstain from official Board considerations and actions in which they have a conflict of interest. When a question arises regarding such potential conflict of interest, then the issue will be settled by majority vote of the Board. Form 990, Part VI, Section C, line 19 All documents are available upon request. Tybee Island Charter School Inc DBA Tybee Island Maritime Acad 714 Lovell Avenue Tybee Island GA 31328 451500099 School GA 501(c)(3) Line 2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Statement of Facts: Request for Penalty AbatementThe Organization respectfully requests an abatement of penalties for the late filing of the 2022 and 2023 Forms 990 for the fiscal years ending June 30, 2023, and June 30, 2024, respectively.--Background and Transactional Complexity:Friends of TIMA was formed in December 2022 as a new entity. On March 6, 2023, the Organization acquired a real estate asset located at 711 Butler Avenue, Tybee Island, GA. This acquisition was funded by the Tybee Island Maritime Academy (the "Supported Organization") and deeded to the Organization.--The Organization's initial fiscal year concluded on June 30, 2023, just six months after its legal formation.Reasonable Cause and First-Time Relief Request:The failure to timely file these returns was an administrative oversight during the Organization's start-up phase and was not due to willful neglect. We believe the following factors justify a waiver of penalties:-First-Time Filer Status & Clean Compliance Record: As a brand-new organization incorporated in late 2022, these represent the Organization's initial filing years. The Organization has no prior history of tax delinquency. We respectfully request consideration under the First-Time Abate (FTA) administrative waiver policy for the 2022 tax year and reasonable cause for the subsequent year.-Internal Communication Gaps & Delayed Discovery: During its first two years of existence (spanning the 2022 and 2023 tax years), there was a significant lack of established communication channels between the newly formed Organization and the Supported Organization. Because the asset acquisition was funded by the school, the volunteer leadership incorrectly assumed the entity's activities were being captured under the school's existing reporting umbrella.-The "Consecutive Year" Oversight: Because the Organization was unaware of its independent filing requirement during its infancy, the 2023 tax year (ending June 30, 2024) passed before the initial oversight for the 2022 year was identified. Once the reporting obligation was discovered during a comprehensive internal review, the Organization realized that both the 2022 and 2023 returns were past due.-Compressed Timeline & Technical Complexity: The Organization had less than 120 days between the acquisition of its primary asset and the close of its first tax year. The volunteer board did not immediately recognize that this specific transactionwhere funds from the school were used to deed an asset to a supporting organizationtriggered a separate, complex reporting obligation for a Type I Supporting Organization.-Ordinary Business Care & Prompt Correction: The Organization acted with prudence by properly recording the deed and maintaining financial transparency. Upon discovering the filing requirements for both years, the Organization immediately engaged professional assistance to prepare and submit the necessary returns and has since implemented internal controls to ensure ongoing compliance.Conclusion: Given that these are the first-ever filings for a new organization and the delays were caused by a "startup" communication gap that affected the first two cycles simultaneously, we respectfully request that the IRS exercise its discretion to abate all late-filing penalties for the tax years ending 06/30/2023 and 06/30/2024.I declare under penalties of perjury that I have examined this statement and the facts contained herein, and to the best of my knowledge and belief, they are true, correct, and complete.Laura Solomon, Board Chair