Liabilities / Assets
83rd percentile
Higher debt load relative to assets than 83% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.10x
Liabilities / Revenue
90th percentile
Higher debt load relative to revenue than 90% of similar nonprofits.
Net Margin
74th percentile
Higher net margin than 74% of similar nonprofits.
Top Officer Pay
82nd percentile
Higher top officer pay than 82% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
64th percentile
Faster asset growth than 64% of similar nonprofits.
Revenue Growth
76th percentile
Faster revenue growth than 76% of similar nonprofits.
Balance Sheet
Assets
Up$247,987
Up $23,956 (+11%) from 2024
Net Assets
Up$223,403
Up $17,519 (+8.5%) from 2024
Liabilities
Up$24,584
Up $6,437 (+35%) from 2024
Revenue And Expenses
Revenue
Up$96,754
Up $19,970 (+26%) from 2024
Expenses
Up$79,235
Up $10,548 (+15%) from 2024
Net Income
Up$17,519
Up $9,422 (+116%) from 2024
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Aug 1, 2024 to Jul 31, 2025
- Signed
- Mar 2, 2026
- Return Version
- 2024v5.5
- Gross Receipts
- $99,820
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
| Description | Grants | Expenses |
|---|---|---|
| TO PROVIDE SCHOLARSHIP FUNDS TO FURTHER STUDENTS EDUCATION. | $0 | $41,400 |
| TO PROVIDE FUNDING FOR SUMMER SCHOLARS | $0 | $19,677 |
| TO PROVIDE FUNDING FOR CLASSROOM/FACULTY NEEDS/CURRICULUM ENRICHMENT/COLLEGE PREP ENHANCEMENT SERVICES | $0 | $15,258 |
| TO PROVIDE FUNDING FOR FACULTY DEVELOPMENT | $0 | $673 |
| TO PROVIDE SUPPORT TO THE PARENTS AND TEACHERS 501C3 ORGANIZATION:PARTNERS IN EDUCATION | $0 | $0 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| CHAD TIPPEY | Treasurer | - | $0 | - | - |
| CHARLES CLAUS | Board Chair | - | $0 | - | - |
| JACOB PERIMUTTER | Principal | - | $0 | - | - |
| JENNY HEICHELBECH | Secretary | - | $0 | - | - |
| ASHLEY WARNOCK | Board Member | - | $0 | - | - |
| DANIEL FLESSAS | Board Member | - | $0 | - | - |
| NEVES RICHARDS | Board Member | - | $0 | - | - |
| JESSICA BROWNING | Board Member | - | $0 | - | - |
| REBECCA MARTIN | Board Member | - | $0 | - | - |
| LYNN VAN TIEM | Board Member | - | $0 | - | - |
Fundraising, Events, and Gaming
Fundraising Events
| Event | Gross Receipts | Gross Revenue | Direct Expenses | Net Income |
|---|---|---|---|---|
| Fall Fundraising | $66,442 | - | $3,066 | - |
| Total Events | $66,442 | - | $3,066 | $-3,066 |
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 Claus
- Title
- Board Chair
- Phone
- 8437227330
- Signed
- 2026-03-02
- Discuss with paid preparer
- Yes
Preparer
- Firm
- Veris LLC
- Address
- 1156 BOWMAN ROAD SUITE 100-A, MOUNT PLEASANT, SC 29464
- Preparer
- Dan Sullivan CPA
- Phone
- 8438814477
Supplemental Narrative
Additional Explanations
Form 990-ez, Part I, Line 4 - Other Investment Income
“Description: dividend income-ccf. Amount: 3,664. Description: interest-savings, short-term cd. Amount: 1,215. Total included on form 990-ez, line 4: 4,879.”
Form 990-ez, Part I, Line 16 - Other Expenses
“Description: college prep enhancement servic. Amount: 15,258. Description: faculty prof development costs. Amount: 673. Description: curriculum:summer scholars. Amount: 19,677. Description: bank service charges. Amount: 470. Description: bank service charges:management fee. Amount: 1,494. Description: website donation settlement fee. Amount: 165. Description: insurance - liability, d and o. Amount: 475. Description: restricted grant expense. Amount: 39,400. Total to form 990-ez, line 16: 77,612.”
Form 990-ez, Part II, Line 26 - Other Liabilities
“Description: unrealized gains/losses. Beg. Of year amount: 18,147. End of year amount: 24,584.”
Raw XML Appendix222 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.
| Path | # | Value |
|---|---|---|
| IRS990EZ/ActivitiesNotPreviouslyRptInd | 0 | 0 |
| IRS990EZ/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt | 0 | CHAD TIPPEY |
| IRS990EZ/BooksInCareOfDetail/PhoneNum | 0 | 8437141118 |
| IRS990EZ/BooksInCareOfDetail/USAddress/AddressLine1Txt | 0 | 5109-A WEST ENTERPRISE STREET |
| IRS990EZ/BooksInCareOfDetail/USAddress/CityNm | 0 | NORTH CHARLESTON |
| IRS990EZ/BooksInCareOfDetail/USAddress/StateAbbreviationCd | 0 | SC |
| IRS990EZ/BooksInCareOfDetail/USAddress/ZIPCd | 0 | 29405 |
| IRS990EZ/CashSavingsAndInvestmentsGrp/BOYAmt | 0 | 224031 |
| IRS990EZ/CashSavingsAndInvestmentsGrp/EOYAmt | 0 | 247987 |
| IRS990EZ/ChgMadeToOrgnzngDocNotRptInd | 0 | 0 |
| IRS990EZ/ContributionsGiftsGrantsEtcAmt | 0 | 92142 |
| IRS990EZ/DirectIndirectPltclExpendAmt | 0 | 0 |
| IRS990EZ/DonorAdvisedFndsInd | 0 | 0 |
| IRS990EZ/EngagedInExcessBenefitTransInd | 0 | 0 |
| IRS990EZ/ExcessOrDeficitForYearAmt | 0 | 17519 |
| IRS990EZ/FeesAndOtherPymtToIndCntrctAmt | 0 | 1623 |
| IRS990EZ/FiledScheduleAInd | 0 | 1 |
| IRS990EZ/ForeignFinancialAccountInd | 0 | 0 |
| IRS990EZ/ForeignOfficeInd | 0 | 0 |
| IRS990EZ/Form990TotalAssetsGrp/BOYAmt | 0 | 224031 |
| IRS990EZ/Form990TotalAssetsGrp/EOYAmt | 0 | 247987 |
| IRS990EZ/GainOrLossFromSaleOfAssetsAmt | 0 | 2799 |
| IRS990EZ/GrossReceiptsAmt | 0 | 99820 |
| IRS990EZ/InfoInScheduleOPartIIIInd | 0 | X |
| IRS990EZ/InfoInScheduleOPartIIInd | 0 | X |
| IRS990EZ/InfoInScheduleOPartIInd | 0 | X |
| IRS990EZ/InfoInScheduleOPartVInd | 0 | X |
| IRS990EZ/InvestmentIncomeAmt | 0 | 4879 |
| IRS990EZ/LobbyingActivitiesInd | 0 | 0 |
| IRS990EZ/MadeLoansToFromOfficersInd | 0 | 0 |
| IRS990EZ/MethodOfAccountingCashInd | 0 | X |
| IRS990EZ/NetAssetsOrFundBalancesBOYAmt | 0 | 205884 |
| IRS990EZ/NetAssetsOrFundBalancesEOYAmt | 0 | 223403 |
| IRS990EZ/NetAssetsOrFundBalancesGrp/BOYAmt | 0 | 205884 |
| IRS990EZ/NetAssetsOrFundBalancesGrp/EOYAmt | 0 | 223403 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 0 | 0.00 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 1 | 0.00 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 2 | 0.00 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 3 | 0.00 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 4 | 0.00 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 5 | 0.00 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 6 | 0.00 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 7 | 0.00 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 8 | 0.00 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt | 9 | 0.00 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 0 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 1 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 2 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 3 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 4 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 5 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 6 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 7 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 8 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt | 9 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt | 0 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt | 1 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt | 2 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt | 3 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt | 4 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt | 5 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt | 6 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt | 7 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt | 8 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt | 9 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt | 0 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt | 1 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt | 2 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt | 3 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt | 4 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt | 5 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt | 6 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt | 7 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt | 8 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt | 9 | 0 |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 0 | CHAD TIPPEY |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 1 | CHARLES CLAUS |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 2 | JACOB PERIMUTTER |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 3 | JENNY HEICHELBECH |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 4 | ASHLEY WARNOCK |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 5 | DANIEL FLESSAS |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 6 | NEVES RICHARDS |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 7 | JESSICA BROWNING |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 8 | REBECCA MARTIN |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm | 9 | LYNN VAN TIEM |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 0 | TREASURER |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 1 | BOARD CHAIR |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 2 | PRINCIPAL |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 3 | SECRETARY |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 4 | BOARD MEMBER |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 5 | BOARD MEMBER |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 6 | BOARD MEMBER |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 7 | BOARD MEMBER |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 8 | BOARD MEMBER |
| IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt | 9 | BOARD MEMBER |
| IRS990EZ/OperateHospitalInd | 0 | 0 |
| IRS990EZ/Organization501c3Ind | 0 | X |
| IRS990EZ/OrganizationDissolvedEtcInd | 0 | 0 |
| IRS990EZ/OrganizationHadUBIInd | 0 | 0 |
| IRS990EZ/OtherChangesInNetAssetsAmt | 0 | 0 |
| IRS990EZ/OtherExpensesTotalAmt | 0 | 77612 |
| IRS990EZ/PartVIHghstPdCntrctProfSrvcTxt | 0 | NONE |
| IRS990EZ/PartVIOfCompOfHghstPdEmplTxt | 0 | NONE |
| IRS990EZ/PoliticalCampaignActyInd | 0 | 0 |
| IRS990EZ/PrimaryExemptPurposeTxt | 0 | 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. |
| IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt | 0 | TO PROVIDE FUNDING FOR CLASSROOM/FACULTY NEEDS/CURRICULUM ENRICHMENT/COLLEGE PREP ENHANCEMENT SERVICES |
| IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt | 1 | TO PROVIDE FUNDING FOR SUMMER SCHOLARS |
| IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt | 2 | TO PROVIDE FUNDING FOR FACULTY DEVELOPMENT |
| IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt | 3 | TO PROVIDE SCHOLARSHIP FUNDS TO FURTHER STUDENTS EDUCATION. |
| IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt | 4 | TO PROVIDE SUPPORT TO THE PARENTS AND TEACHERS 501C3 ORGANIZATION:PARTNERS IN EDUCATION |
| IRS990EZ/ProgramSrvcAccomplishmentGrp/GrantsAndAllocationsAmt | 0 | 0 |
| IRS990EZ/ProgramSrvcAccomplishmentGrp/GrantsAndAllocationsAmt | 1 | 0 |
| IRS990EZ/ProgramSrvcAccomplishmentGrp/GrantsAndAllocationsAmt | 2 | 0 |
| IRS990EZ/ProgramSrvcAccomplishmentGrp/GrantsAndAllocationsAmt | 3 | 0 |
| IRS990EZ/ProgramSrvcAccomplishmentGrp/GrantsAndAllocationsAmt | 4 | 0 |
| IRS990EZ/ProgramSrvcAccomplishmentGrp/ProgramServiceExpensesAmt | 0 | 15258 |
| IRS990EZ/ProgramSrvcAccomplishmentGrp/ProgramServiceExpensesAmt | 1 | 19677 |
| IRS990EZ/ProgramSrvcAccomplishmentGrp/ProgramServiceExpensesAmt | 2 | 673 |
| IRS990EZ/ProgramSrvcAccomplishmentGrp/ProgramServiceExpensesAmt | 3 | 41400 |
| IRS990EZ/ProgramSrvcAccomplishmentGrp/ProgramServiceExpensesAmt | 4 | 0 |
| IRS990EZ/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990EZ/RelatedOrganizationCtrlEntInd | 0 | 0 |
| IRS990EZ/SaleOfAssetsGrossAmt | 0 | 2799 |
| IRS990EZ/SchoolOperatingInd | 0 | 0 |
| IRS990EZ/SpecialEventsDirectExpensesAmt | 0 | 3066 |
| IRS990EZ/SpecialEventsNetIncomeLossAmt | 0 | -3066 |
| IRS990EZ/StatesWhereCopyOfReturnIsFldCd | 0 | SC |
| IRS990EZ/SubjectToProxyTaxInd | 0 | 0 |
| IRS990EZ/SumOfTotalLiabilitiesGrp/BOYAmt | 0 | 18147 |
| IRS990EZ/SumOfTotalLiabilitiesGrp/EOYAmt | 0 | 24584 |
| IRS990EZ/TanningServicesProvidedInd | 0 | 0 |
| IRS990EZ/TaxImposedOnOrganizationMgrAmt | 0 | 0 |
| IRS990EZ/TaxImposedUnderIRC4911Amt | 0 | 0 |
| IRS990EZ/TaxImposedUnderIRC4912Amt | 0 | 0 |
| IRS990EZ/TaxImposedUnderIRC4955Amt | 0 | 0 |
| IRS990EZ/TaxReimbursedByOrganizationAmt | 0 | 0 |
| IRS990EZ/TotalExpensesAmt | 0 | 79235 |
| IRS990EZ/TotalProgramServiceExpensesAmt | 0 | 77008 |
| IRS990EZ/TotalRevenueAmt | 0 | 96754 |
| IRS990EZ/TrnsfrExmptNonChrtblRltdOrgInd | 0 | 0 |
| IRS990EZ/TypeOfOrganizationCorpInd | 0 | X |
| IRS990EZ/WebsiteAddressTxt | 0 | N/A |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt | 0 | 92142 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt | 0 | 75104 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt | 0 | 74658 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt | 0 | 79284 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt | 0 | 40049 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt | 0 | 361237 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt | 0 | 4878 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt | 0 | 3361 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt | 0 | 4044 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt | 0 | 3090 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt | 0 | 1755 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt | 0 | 17128 |
| IRS990ScheduleA/PublicOrganization170Ind | 0 | X |
| IRS990ScheduleA/PublicSupportCY170Pct | 0 | 0.83620 |
| IRS990ScheduleA/PublicSupportPY170Pct | 0 | 0.79820 |
| IRS990ScheduleA/PublicSupportTotal170Amt | 0 | 316371 |
| IRS990ScheduleA/SubstantialContributorsTotAmt | 0 | 44866 |
| IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind | 0 | X |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt | 0 | 92142 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt | 0 | 75104 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt | 0 | 74658 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt | 0 | 79284 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt | 0 | 40049 |
| IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt | 0 | 361237 |
| IRS990ScheduleA/TotalSupportAmt | 0 | 378365 |
| IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorNum | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine2 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt | 0 | RESTRICTED |
| IRS990ScheduleG/AgrmtProfFundraisingActyInd | 0 | 0 |
| IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt | 0 | 66442 |
| IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt | 0 | 66442 |
| IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt | 0 | 3066 |
| IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm | 0 | FALL FUNDRAISING |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt | 0 | 66442 |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt | 0 | 66442 |
| IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt | 0 | -3066 |
| IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt | 0 | 3066 |
| IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt | 0 | 3066 |
| IRS990ScheduleG/SpecialFundraisingEventsInd | 0 | X |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | DESCRIPTION: DIVIDEND INCOME-CCF. AMOUNT: 3,664. DESCRIPTION: INTEREST-SAVINGS, SHORT-TERM CD. AMOUNT: 1,215. TOTAL INCLUDED ON FORM 990-EZ, LINE 4: 4,879. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | DESCRIPTION: COLLEGE PREP ENHANCEMENT SERVIC. AMOUNT: 15,258. DESCRIPTION: FACULTY PROF DEVELOPMENT COSTS. AMOUNT: 673. DESCRIPTION: CURRICULUM:SUMMER SCHOLARS. AMOUNT: 19,677. DESCRIPTION: BANK SERVICE CHARGES. AMOUNT: 470. DESCRIPTION: BANK SERVICE CHARGES:MANAGEMENT FEE. AMOUNT: 1,494. DESCRIPTION: WEBSITE DONATION SETTLEMENT FEE. AMOUNT: 165. DESCRIPTION: INSURANCE - LIABILITY, D AND O. AMOUNT: 475. DESCRIPTION: RESTRICTED GRANT EXPENSE. AMOUNT: 39,400. TOTAL TO FORM 990-EZ, LINE 16: 77,612. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | DESCRIPTION: UNREALIZED GAINS/LOSSES. BEG. OF YEAR AMOUNT: 18,147. END OF YEAR AMOUNT: 24,584. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990-EZ, PART I, LINE 4 - OTHER INVESTMENT INCOME |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990-EZ, PART I, LINE 16 - OTHER EXPENSES |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990-EZ, PART II, LINE 26 - OTHER LIABILITIES |
| TransferPrsnlBnftContractsDecl/DeclarationDesc | 0 | THE 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/BuildTS | 0 | 2025-03-06 01:10:19Z |
| ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd | 0 | 1 |
| ReturnHeader/BusinessOfficerGrp/PersonNm | 0 | CHARLES CLAUS |
| ReturnHeader/BusinessOfficerGrp/PersonTitleTxt | 0 | BOARD CHAIR |
| ReturnHeader/BusinessOfficerGrp/PhoneNum | 0 | 8437227330 |
| ReturnHeader/BusinessOfficerGrp/SignatureDt | 0 | 2026-03-02 |
| ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt | 0 | ACADEMIC MAGNET FOUNDATION |
| ReturnHeader/Filer/BusinessNameControlTxt | 0 | ACAD |
| ReturnHeader/Filer/EIN | 0 | 262530146 |
| ReturnHeader/Filer/PhoneNum | 0 | 8437227330 |
| ReturnHeader/Filer/USAddress/AddressLine1Txt | 0 | 5109-A WEST ENTERPRISE STREET |
| ReturnHeader/Filer/USAddress/CityNm | 0 | NORTH CHARLESTON |
| ReturnHeader/Filer/USAddress/StateAbbreviationCd | 0 | SC |
| ReturnHeader/Filer/USAddress/ZIPCd | 0 | 29405 |
| ReturnHeader/IRSResponsiblePrtyInfoCurrInd | 0 | 1 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmEIN | 0 | 571112308 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt | 0 | VERIS LLC |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt | 0 | 1156 BOWMAN ROAD SUITE 100-A |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm | 0 | MOUNT PLEASANT |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd | 0 | SC |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd | 0 | 29464 |
| ReturnHeader/PreparerPersonGrp/PhoneNum | 0 | 8438814477 |
| ReturnHeader/PreparerPersonGrp/PreparationDt | 0 | 2026-03-02 |
| ReturnHeader/PreparerPersonGrp/PreparerPersonNm | 0 | DAN SULLIVAN CPA |
| ReturnHeader/ReturnTs | 0 | 2026-03-30T07:38:58-05:00 |
| ReturnHeader/ReturnTypeCd | 0 | 990EZ |
| ReturnHeader/TaxPeriodBeginDt | 0 | 2024-08-01 |
| ReturnHeader/TaxPeriodEndDt | 0 | 2025-07-31 |
| ReturnHeader/TaxYr | 0 | 2024 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2025 • Form 990EZDetailed filing. Detailed filing data is available for this year.
- Assets
- $247,987
- Liabilities
- $24,584
- Net assets
- $223,403
- Revenue
- $96,754
- Expenses
- $79,235
- Net income
- $17,519