Civic Intelligence

Academic Magnet Foundation

990EZ • Fiscal year 2016 • EIN 26-2530146

Jan 01, 2016 to Dec 31, 2016 • Filed on May 24, 2017

5109-a West Enterprise StreetNorth Charleston, SC 29405

(843) 722-7330

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

56th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

55th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Net Margin

90th percentile

45%

Higher net margin than 90% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Top Officer Pay

75th percentile

$0

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Asset Growth

67th percentile

14%

Faster asset growth than 67% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

87th percentile

52%

Faster revenue growth than 87% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Assets

Up

$110,770

Up $13,682 (+14%) from 2015

Net Assets

Up

$110,770

Up $13,682 (+14%) from 2015

Liabilities

Flat

$0

Flat from 2015

Revenue

Up

$30,577

Up $10,461 (+52%) from 2015

Expenses

Down

$16,895

Down $10,834 (-39%) from 2015

Net Income

Up

$13,682

Up $21,295 (+280%) from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300K$200K$100K$0Assets 2014: $104,701Liabilities 2014: $0Net Assets 2014: $104,7012014Assets 2015: $97,088Liabilities 2015: $0Net Assets 2015: $97,0882015Assets 2016: $110,770Liabilities 2016: $0Net Assets 2016: $110,7702016Assets 2019: $140,341Liabilities 2019: $0Net Assets 2019: $140,3412019Assets 2020: $192,401Liabilities 2020: $0Net Assets 2020: $192,4012020Assets 2021: $215,734Liabilities 2021: $18,761Net Assets 2021: $196,9732021Assets 2022: $213,175Liabilities 2022: $5,223Net Assets 2022: $207,9522022Assets 2023: $206,723Liabilities 2023: $8,936Net Assets 2023: $197,7872023Assets 2024: $224,031Liabilities 2024: $18,147Net Assets 2024: $205,8842024Assets 2025: $247,987Liabilities 2025: $24,584Net Assets 2025: $223,4032025

Highlighted filing

2016

Assets$110,770
Liabilities$0
Net Assets$110,770

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$100K$50K$0-$50KRevenue 2014: $52,527Expenses 2014: $13,678Net Income 2014: $38,8492014Revenue 2015: $20,116Expenses 2015: $27,729Net Income 2015: -$7,6132015Revenue 2016: $30,577Expenses 2016: $16,895Net Income 2016: $13,6822016Revenue 2019: $33,642Expenses 2019: $26,350Net Income 2019: $7,2922019Revenue 2020: $81,569Expenses 2020: $29,509Net Income 2020: $52,0602020Revenue 2021: $40,198Expenses 2021: $35,626Net Income 2021: $4,5722021Revenue 2022: $82,970Expenses 2022: $71,991Net Income 2022: $10,9792022Revenue 2023: $75,006Expenses 2023: $85,171Net Income 2023: -$10,1652023Revenue 2024: $76,784Expenses 2024: $68,687Net Income 2024: $8,0972024Revenue 2025: $96,754Expenses 2025: $79,235Net Income 2025: $17,5192025

Highlighted filing

2016

Revenue$30,577
Expenses$16,895
Net Income$13,682
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
May 24, 2017
Return Version
2016v3.0
Gross Receipts
$30,577
Mission and Program Overview

Mission

The academic magnet foundation (amf) exists to safeguard the mission of academic magnet high school (amhs) with readily available financial backing and human capital to ensure that its students are prepared to thrive in an increasingly competitive global community. Academic magnet high school seeks to deliver a rigorous curriculum, state-of-the-art facilities and an engaging, committed faculty to foster love of scholarship, leadership and social responsibilty. By planning for and responding to the dynamic needs of our students and faculty, the foundation's vision is to preserve the long-term excellence of the amhs community by supporting leading-edge academic and arts enrichment opportunities and prepare our students to become successful and productive citizens of the world. The amf's resources, including community and business partnerships, will provide discretionary capital independent of but transparent to the charleston county school district.

Program Services

DescriptionGrantsExpenses
TO PROVIDE FUNDING FOR SUMMER SCHOLARS PROGRAM$0$7,500
TO PROVIDE FUNDING FOR COLLEGE LEVEL CURRICULUM$0$5,400
THE ACADEMIC MAGNET FOUNDATION EXISTS TO SAFEGUARD THE MISSION OF ACADEMIC MAGNET HIGH SCHOOL WITH READILY AVAILABLE FINANCIAL BACKING AND HUMAN CAPITAL TO ENSURE THAT ITS STUDENTS ARE PREPARED TO THRIVE IN AN INCREASINGLY COMPETITIVE GLOBAL COMMUNITY.$0$2,109
TO PROVIDE FUNDING FOR THE THESIS MENTOR PROGRAM$0$680
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
CLIFF WOODSBoard Member-$0--
CARRIE BOVENDERVice Chair-$0--
BILL GURNEYTreasurer-$0--
KIRK WEICHSELChair Person-$0--
HEATHER MACQUEEN JONESSecretary-$0--
Filing and Contact Details

Filer

Filer Name
Academic Magnet Foundation
EIN
26-2530146
Phone
8437227330
Address
5109-A WEST ENTERPRISE STREET, NORTH CHARLESTON, SC 29405

Signing Officer

Name
Cliff Woods
Title
Board Chair
Phone
8438841099
Signed
2017-05-24
Discuss with paid preparer
Yes

Preparer

Firm
Hood & Selander Cpas LLC
Address
856 LOWCOUNTY BLVD SUITE 100, MOUNT PLEASANT, SC 29464
Preparer
R Scott Hood CPA
Phone
8438841099
Supplemental Narrative

Additional Explanations

Form 990-ez, Part I, Line 16 - Other Expenses

Description: business expenses & fees. Amount: 356. Description: college level curriculum cost. Amount: 5,400. Description: alumni & community outreach. Amount: 2,109. Description: summer scholar. Amount: 7,500. Description: thesis mentor programs. Amount: 680. Total to form 990-ez, line 16: 16,045.

Raw XML Appendix158 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990EZ/BooksInCareOfDetail/USAddress/CityNm0NORTH CHARLESTON
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IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm0CLIFF WOODS
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm1CARRIE BOVENDER
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm2BILL GURNEY
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm3KIRK WEICHSEL
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm4HEATHER MACQUEEN JONES
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt0BOARD MEMBER
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt1VICE CHAIR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt2TREASURER
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt3CHAIR PERSON
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt4SECRETARY
IRS990EZ/OperateHospitalInd00
IRS990EZ/Organization501c3Ind0X
IRS990EZ/OrganizationDissolvedEtcInd00
IRS990EZ/OrganizationHadUBIInd00
IRS990EZ/OtherChangesInNetAssetsAmt00
IRS990EZ/OtherExpensesTotalAmt016045
IRS990EZ/PartVIHghstPdCntrctProfSrvcTxt0NONE
IRS990EZ/PartVIOfCompOfHghstPdEmplTxt0NONE
IRS990EZ/PoliticalCampaignActyInd00
IRS990EZ/PrimaryExemptPurposeTxt0THE ACADEMIC MAGNET FOUNDATION (AMF) EXISTS TO SAFEGUARD THE MISSION OF ACADEMIC MAGNET HIGH SCHOOL (AMHS) WITH READILY AVAILABLE FINANCIAL BACKING AND HUMAN CAPITAL TO ENSURE THAT ITS STUDENTS ARE PREPARED TO THRIVE IN AN INCREASINGLY COMPETITIVE GLOBAL COMMUNITY. ACADEMIC MAGNET HIGH SCHOOL SEEKS TO DELIVER A RIGOROUS CURRICULUM, STATE-OF-THE-ART FACILITIES AND AN ENGAGING, COMMITTED FACULTY TO FOSTER LOVE OF SCHOLARSHIP, LEADERSHIP AND SOCIAL RESPONSIBILTY. BY PLANNING FOR AND RESPONDING TO THE DYNAMIC NEEDS OF OUR STUDENTS AND FACULTY, THE FOUNDATION'S VISION IS TO PRESERVE THE LONG-TERM EXCELLENCE OF THE AMHS COMMUNITY BY SUPPORTING LEADING-EDGE ACADEMIC AND ARTS ENRICHMENT OPPORTUNITIES AND PREPARE OUR STUDENTS TO BECOME SUCCESSFUL AND PRODUCTIVE CITIZENS OF THE WORLD. THE AMF'S RESOURCES, INCLUDING COMMUNITY AND BUSINESS PARTNERSHIPS, WILL PROVIDE DISCRETIONARY CAPITAL INDEPENDENT OF BUT TRANSPARENT TO THE CHARLESTON COUNTY SCHOOL DISTRICT.
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IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt2TO PROVIDE FUNDING FOR SUMMER SCHOLARS PROGRAM
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt3TO PROVIDE FUNDING FOR THE THESIS MENTOR PROGRAM
IRS990EZ/ProgramSrvcAccomplishmentGrp/GrantsAndAllocationsAmt00
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IRS990EZ/ProgramSrvcAccomplishmentGrp/ProgramServiceExpensesAmt3680
IRS990EZ/ProhibitedTaxShelterTransInd00
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IRS990ScheduleA/PublicOrganization170Ind0X
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IRS990ScheduleA/SubstantialContributorsTotAmt019540
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt020116
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt071404
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0174624
IRS990ScheduleA/TotalSupportAmt0174624
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DESCRIPTION: BUSINESS EXPENSES & FEES. AMOUNT: 356. DESCRIPTION: COLLEGE LEVEL CURRICULUM COST. AMOUNT: 5,400. DESCRIPTION: ALUMNI & COMMUNITY OUTREACH. AMOUNT: 2,109. DESCRIPTION: SUMMER SCHOLAR. AMOUNT: 7,500. DESCRIPTION: THESIS MENTOR PROGRAMS. AMOUNT: 680. TOTAL TO FORM 990-EZ, LINE 16: 16,045.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990-EZ, PART I, LINE 16 - OTHER EXPENSES
TransferPrsnlBnftContractsDecl/DeclarationDesc0THE ORGANIZATION DID NOT, DURING THE YEAR, RECEIVE ANY FUNDS, DIRECTLY,OR INDIRECTLY, TO PAY PREMIUMS ON A PERSONAL BENEFIT CONTRACT.THE ORGANIZATION, DID NOT, DURING THE YEAR, PAY ANY PREMIUMS, DIRECTLY,OR INDIRECTLY, ON A PERSONAL BENEFIT CONTRACT.
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0CLIFF WOODS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum08438841099
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-05-24
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ACADEMIC MAGNET FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0ACAD
ReturnHeader/Filer/EIN0262530146
ReturnHeader/Filer/PhoneNum08437227330
ReturnHeader/Filer/USAddress/AddressLine1Txt05109-A WEST ENTERPRISE STREET
ReturnHeader/Filer/USAddress/CityNm0NORTH CHARLESTON
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ReturnHeader/Filer/USAddress/ZIPCd029405
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ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt071.204.244.51
ReturnHeader/FilingSecurityInformation/IPDt02017-05-24
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm014:22:54
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0261473446
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HOOD & SELANDER CPAS LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0856 LOWCOUNTY BLVD SUITE 100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MOUNT PLEASANT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0SC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd029464
ReturnHeader/PreparerPersonGrp/PhoneNum08438841099
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0R SCOTT HOOD CPA
ReturnHeader/ReturnTs02017-06-14T10:02:31-05:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

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Filings