Civic Intelligence

Academic Magnet Foundation

990EZ • Fiscal year 2022 • EIN 26-2530146

Aug 01, 2021 to Jul 31, 2022 • Filed on Dec 02, 2022

Organization ProfileN/A
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

71st percentile

0.02x

Higher debt load relative to assets than 71% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

79th percentile

0.06x

Higher debt load relative to revenue than 79% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

63rd percentile

13%

Higher net margin than 63% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

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

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Asset Growth

44th percentile

-1.2%

Faster asset growth than 44% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

84th percentile

106%

Faster revenue growth than 84% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets71st percentile

Assets

Down

$213,175

Down $2,559 (-1.2%) from 2021

Net Assets

Up

$207,952

Up $10,979 (+5.6%) from 2021

Liabilities

Down

$5,223

Down $13,538 (-72%) from 2021

Revenue And Expenses
Liabilities / Revenue79th percentileNet Margin63rd percentile

Revenue

Up

$82,970

Up $42,772 (+106%) from 2021

Expenses

Up

$71,991

Up $36,365 (+102%) from 2021

Net Income

Up

$10,979

Up $6,407 (+140%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth44th percentile

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

2022

Assets$213,175
Liabilities$5,223
Net Assets$207,952
Open 2022 Filing

Operations Trend

Revenue Growth84th percentile

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

2022

Revenue$82,970
Expenses$71,991
Net Income$10,979
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Aug 1, 2021 to Jul 31, 2022
Signed
Dec 2, 2022
Return Version
2021v4.2
Gross Receipts
$87,881
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 SUPPORT TO THE PARENTS AND TEACHERS 501C3 ORGANIZATION:PARTNERS IN EDUCATION$35,105$35,105
TO PROVIDE FUNDING FOR FRESHMAN ORIENTATION$0$16,042
TO PROVIDE FUNDING FOR CLASSROOM/FACULTY NEEDS/CURRICULUM ENRICHMENT/COVID RELATED EXPENSES$0$8,191
TO PROVIDE SCHOLARSHIP FUNDS TO FURTHER STUDENTS EDUCATION.$6,000$6,000
TO PROVIDE FUNDING FOR FACULTY DEVELOPMENT$0$1,250
Compensation and Service Providers
Top Officer Pay78th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
BRIAN PIGFORDTreasurer-$0--
CHARLES JORDAN JRBoard Chair-$0--
JACOB PERIMUTTERPrincipal-$0--
JULIA MARTINCo-Secretary-$0--
JOANNA GHEGANBoard Member-$0--
JENNIFER GOULDBoard Member-$0--
JEANNE KUYPERBoard Member-$0--
AMY SALZHAUERBoard Member-$0--
DEBRA WILSONBoard Member-$0--
JAY MEYERCo-Secretary-$0--
PAM COX JUTTEBoard Member-$0--
Fundraising, Events, and Gaming

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fall Fundraising$76,189-$4,911-
Total Events$76,189-$4,911$-4,911
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
Charles Jordan Jr
Title
Board Chair
Phone
8438841099
Signed
2022-12-02
Discuss with paid preparer
Yes

Preparer

Firm
Veris LLC
Address
1156 BOWMAN ROAD SUITE 100-A, MOUNT PLEASANT, SC 29464
Preparer
David Selander CPA
Phone
8438814477
Supplemental Narrative

Additional Explanations

Form 990-ez, Part I, Line 4 - Other Investment Income

“Description: dividend income. Amount: 3,089.”

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

“Description: business expenses & fees. Amount: 3,944. Description: freshman orientation. Amount: 16,042. Description: partners in education grant. Amount: 35,105. Description: amhs enrichment - covid related expenses. Amount: 8,191. Description: insurance. Amount: 435. Description: scholarship fund expense. Amount: 6,000. Description: school improvement council. Amount: 1,250. Total to form 990-ez, line 16: 70,967.”

Form 990-ez, Part II, Line 26 - Other Liabilities

“Description: unrealized gains/losses. Beg. Of year amount: 18,761. End of year amount: 5,223.”

Raw XML Appendix232 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/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.
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt0TO PROVIDE FUNDING FOR CLASSROOM/FACULTY NEEDS/CURRICULUM ENRICHMENT/COVID RELATED EXPENSES
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt1TO PROVIDE FUNDING FOR FRESHMAN ORIENTATION
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt2TO PROVIDE FUNDING FOR FACULTY DEVELOPMENT
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt3TO PROVIDE SCHOLARSHIP FUNDS TO FURTHER STUDENTS EDUCATION.
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt4TO PROVIDE SUPPORT TO THE PARENTS AND TEACHERS 501C3 ORGANIZATION:PARTNERS IN EDUCATION
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DESCRIPTION: DIVIDEND INCOME. AMOUNT: 3,089.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DESCRIPTION: BUSINESS EXPENSES & FEES. AMOUNT: 3,944. DESCRIPTION: FRESHMAN ORIENTATION. AMOUNT: 16,042. DESCRIPTION: PARTNERS IN EDUCATION GRANT. AMOUNT: 35,105. DESCRIPTION: AMHS ENRICHMENT - COVID RELATED EXPENSES. AMOUNT: 8,191. DESCRIPTION: INSURANCE. AMOUNT: 435. DESCRIPTION: SCHOLARSHIP FUND EXPENSE. AMOUNT: 6,000. DESCRIPTION: SCHOOL IMPROVEMENT COUNCIL. AMOUNT: 1,250. TOTAL TO FORM 990-EZ, LINE 16: 70,967.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DESCRIPTION: UNREALIZED GAINS/LOSSES. BEG. OF YEAR AMOUNT: 18,761. END OF YEAR AMOUNT: 5,223.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990-EZ, PART I, LINE 4 - OTHER INVESTMENT INCOME
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990-EZ, PART I, LINE 16 - OTHER EXPENSES
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990-EZ, PART II, LINE 26 - OTHER LIABILITIES
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.
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0CHARLES JORDAN JR
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0571112308
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0VERIS LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01156 BOWMAN ROAD SUITE 100-A
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MOUNT PLEASANT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0SC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd029464
ReturnHeader/PreparerPersonGrp/PhoneNum08438814477
ReturnHeader/PreparerPersonGrp/PreparationDt02022-11-30
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAVID SELANDER CPA
ReturnHeader/ReturnTs02022-12-08T07:43:49-06:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0CHARLES
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0JORDAN JR
ReturnHeader/TaxPeriodBeginDt02021-08-01
ReturnHeader/TaxPeriodEndDt02022-07-31
ReturnHeader/TaxYr02021

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Filings

Displayed year

2022 • Form 990EZDetailed filing. Detailed filing data is available for this year.

Open filing
Assets
$213,175
Liabilities
$5,223
Net assets
$207,952
Revenue
$82,970
Expenses
$71,991
Net income
$10,979
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.48$0.25$2.23$0.97$0.79$0.18
2024Detailed filing. Detailed filing data is available for this year.$2.24$0.18$2.06$0.77$0.69$0.08
2023Detailed filing. Detailed filing data is available for this year.$2.07$0.09$1.98$0.75$0.85$0.10
2022Detailed filing. Detailed filing data is available for this year.$2.13$0.05$2.08$0.83$0.72$0.11
2021Detailed filing. Detailed filing data is available for this year.$2.16$0.19$1.97$0.40$0.36$0.05
2020Detailed filing. Detailed filing data is available for this year.$1.92$0.00$1.92$0.82$0.30$0.52
2019Detailed filing. Detailed filing data is available for this year.$1.40$0.00$1.40$0.34$0.26$0.07
2016Detailed filing. Detailed filing data is available for this year.$1.11$0.00$1.11$0.31$0.17$0.14
2015Detailed filing. Detailed filing data is available for this year.$0.97$0.00$0.97$0.20$0.28$0.08
2014Detailed filing. Detailed filing data is available for this year.$1.05$0.00$1.05$0.53$0.14$0.39