Civic Intelligence

Friends of Excel Academy Inc

EIN 30-0211613 • 501(c)3 • East Boston, MA

Profile

To raise funds and support the functions of and carry out the purposes of excel academy charter school; to engage in activities and perform functions that the school would otherwise have to perform; to own, lease and maintain the sites at which the school is located; and to otherwise benefit the school through provision of financial support and services.

58 Moore StreetEast Boston, MA 02128

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

77th percentile

0.57x

Higher debt load relative to assets than 77% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

91st percentile

3.41x

Higher debt load relative to revenue than 91% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Net Margin

34th percentile

-0.1%

Higher net margin than 34% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

56th percentile

$286,895

Higher top officer pay than 56% of similar nonprofits.

Top officer pay equals 3.5% of source-year revenue.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Asset Growth

24th percentile

-1.7%

Faster asset growth than 24% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

5th percentile

-43%

Faster revenue growth than 5% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets77th percentile

Assets

Up

$82,712,473

Up $1,538,041 (+1.9%) from 2021

Liabilities

Down

$62,409,208

Down $2,045,266 (-3.2%) from 2021

Net Assets

Up

$20,303,265

Up $3,583,307 (+21%) from 2021

Operations
Liabilities / Revenue91st percentileNet Margin34th percentile

Revenue

Up

$7,984,303

Up $3,341,534 (+72%) from 2021

Expenses

Up

$4,300,996

Up $680,404 (+19%) from 2021

Net Income

Up

$3,683,307

Up $2,661,130 (+260%) from 2021

Trend Graphs

Balance Sheet Trend

Asset Growth24th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$100M$50M$0Assets 2010: $934,616Liabilities 2010: $271,270Net Assets 2010: $663,3462010Assets 2016: $11,810,982Liabilities 2016: $5,085,548Net Assets 2016: $6,725,4342016Assets 2017: $12,366,794Liabilities 2017: $5,011,175Net Assets 2017: $7,355,6192017Assets 2018: $12,200,812Liabilities 2018: $4,773,546Net Assets 2018: $7,427,2662018Assets 2019: $17,625,052Liabilities 2019: $4,514,732Net Assets 2019: $13,110,3202019Assets 2020: $45,775,555Liabilities 2020: $29,174,235Net Assets 2020: $16,601,3202020Assets 2021: $81,174,432Liabilities 2021: $64,454,474Net Assets 2021: $16,719,9582021Assets 2022: $82,712,473Liabilities 2022: $62,409,208Net Assets 2022: $20,303,2652022

Highlighted filing

2022

Assets$82,712,473
Liabilities$62,409,208
Net Assets$20,303,265
Open 2022 Filing

Operations Trend

Revenue Growth5th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0Revenue 2010: $325,231Expenses 2010: $121,866Net Income 2010: $203,3652010Revenue 2016: $1,974,779Expenses 2016: $1,844,946Net Income 2016: $129,8332016Revenue 2017: $2,205,107Expenses 2017: $1,576,922Net Income 2017: $628,1852017Revenue 2018: $1,874,231Expenses 2018: $1,841,584Net Income 2018: $32,6472018Revenue 2019: $4,298,743Expenses 2019: $908,142Net Income 2019: $3,390,6012019Revenue 2020: $1,698,014Expenses 2020: $1,632,724Net Income 2020: $65,2902020Revenue 2021: $4,642,769Expenses 2021: $3,620,592Net Income 2021: $1,022,1772021Revenue 2022: $7,984,303Expenses 2022: $4,300,996Net Income 2022: $3,683,3072022

Highlighted filing

2022

Revenue$7,984,303
Expenses$4,300,996
Net Income$3,683,307
Open 2022 Filing

Filings

Most recent year

2022 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$82,712,473
Liabilities
$62,409,208
Net assets
$20,303,265
Revenue
$7,984,303
Expenses
$4,300,996
Net income
$3,683,307
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$82.7$62.4$20.3$7.98$4.30$3.68
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$81.2$64.5$16.7$4.64$3.62$1.02
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$45.8$29.2$16.6$1.70$1.63$0.07
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$17.6$4.51$13.1$4.30$0.91$3.39
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.2$4.77$7.43$1.87$1.84$0.03
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.4$5.01$7.36$2.21$1.58$0.63
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.8$5.09$6.73$1.97$1.84$0.13
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.93$0.27$0.66$0.33$0.12$0.20
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Apr 19, 2023
Return Version
2021v4.2
Gross Receipts
$7,984,303
Mission and Program Overview

Mission

To raise funds and support the functions of and carry out the purposes of excel academy charter school to engage in activities and perform functions that the school would otherwise have to perform; to own, lease and maintain the sites at which the school is located; and to otherwise benefit the school through provision of financial support and services.

To raise funds and support the functions of and carry out the purposes of excel academy charter school; to engage in activities and perform functions that the school would otherwise have to perform; to own, lease and maintain the sites at which the school is located; and to otherwise benefit the school through provision of financial support and services.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$40,410,451$42,226,507▲ $1,816,056
Savings and Temporary Cash Investments$6,044,212$6,502,482▲ $458,270
Cash and Non-Interest-Bearing Accounts$525,951$1,026,168▲ $500,217
Pledges and Grants Receivable$246,920$933,803▲ $686,883
Prepaid Expenses and Deferred Charges$12,500$90,237▲ $77,737
Total Assets$81,174,432$82,712,473▲ $1,538,041
Other Assets Total$33,934,398$31,933,276▼ $2,001,122
Liabilities
Other Liabilities$33,786,167$33,070,469▼ $715,698
Tax Exempt Bond Liabilities$25,698,477$24,924,552▼ $773,925
Mortgage Notes Payable Secured by Investment Property$4,821,862$3,688,569▼ $1,133,293
Accounts Payable and Accrued Expenses$137,968$615,618▲ $477,650
Deferred Revenue$10,000$110,000▲ $100,000
Total Liabilities$64,454,474$62,409,208▼ $2,045,266
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$16,355,045$17,315,965▲ $960,920
Net Assets With Donor Restrictions$364,913$2,987,300▲ $2,622,387
Total Net Assets Fund Balance$16,719,958$20,303,265▲ $3,583,307
Total Liabilities and Net Assets / Fund Balance$81,174,432$82,712,473▲ $1,538,041

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$35,720,545$5,288,985$41,009,530
Land$3,246,716-$3,246,716
Other Land Buildings$2,991,168-$2,991,168
Equipment$268,078$792,339$1,060,417
Other Assets Org$4,635--
Compensation and Service Providers
Top Officer Pay56th percentile

Board Members and Trustees

NameTitle
Seth ReynoldsPresident
Dj CassClerk (as of 6/22)
Peter FisherClerk (left 6/22)
Shirley Veronica CardonaMember (as of 6/22)
Megan PreinerTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Wt Rich CompanyConstruction Services29 CRAFTS STREET SUITE 300, Newton, MA 02458$1,180,325
Revenue and Support

Revenue Composition

Contributions and Grants
$5,354,597
Program Service Revenue
$2,450,315
Investment Income
$176,421
Other Revenue
$2,970
All Other Contributions
$4,834,208
Change in Net Assets
$3,683,307

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded1$79,912Fair Market Value (FMV)
Total Noncash Contributions1$79,912-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,916,121
Grants and Similar Amounts Paid$384,875
Total Fundraising Expense$29,863
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$1,175,112--$1,175,112
Fees for Services Other$1,067,577$10,506-$1,078,083
Occupancy$1,073,808--$1,073,808
Grants to Domestic Orgs$201,263--$201,263
Grants to Domestic Individuals$183,612--$183,612
Fees for Services Legal$49,232$30,309-$79,541
Fees for Services Lobbying$58,500--$58,500
Fees for Services Accounting-$25,881-$25,881
Other Expenses$43,024$3,982$29,863$3,982
Total Functional Expenses$4,187,236$83,897$29,863$4,300,996
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Excel Academy Charter SchoolEast Boston, MA170(b)(1)(a)(ii)To Support the Functions of Excel Academy Charter School.$201,263
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Inflow of Resources$32,259,290
Due to Excel Academy Charter School$811,179

Bond Issues

BondIssuerIssuedIssue PricePurpose
AMdfa Series 2015 Revenue Bonds2015-04-30$16,500,000TO FUND CAPITAL PROJECTS
BMdfa Series 2019 Revenue Bonds2019-10-31$12,000,000TO FUND CAPITAL PROJECTS

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$16,500,000$3,947,774$2,811,769$471,026
B$12,000,000-$763,679$15,485

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The form 990 is made available to all board members for review and comments prior to filing.”

Form 990, Part VI, Section B, Line 12C

“The board of directors annually review the conflict of interest policy.”

Form 990, Part VI, Section C, Line 19

“Friends of excel academy charter schools, inc. Makes its governing documents, conflict of interest policy and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Friends of Excel Academy Charter
EIN
30-0211613
Phone
6178744080
Address
58 MOORE STREET, EAST BOSTON, MA 02128

Signing Officer

Name
Seth Reynolds
Title
President
Phone
6175611371
Signed
2023-04-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Seth Reynolds
Formed
2004
Legal Domicile
Ma
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
5

Preparer

Firm
Aafcpas Inc
Address
50 WASHINGTON STREET, WESTBOROUGH, MA 01581
Preparer
John Buckley CPA
Phone
5083669100
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Consulting: program service expenses 1,067,577. Management and general expenses 10,506. Fundraising expenses 0. Total expenses 1,078,083.”

FORM 990, PART XI, LINE 9:

“Deferred inflows of resources - deferred revenue -100,000.”

FORM 990, PART XII, LINE 2C:

“The board of directors oversees the audit of the financial statements. This process has not changed in fiscal year 2022.”

Financial Statement Notes

PART X, LINE 2:

“The foundation accounts for uncertainty in income taxes in accordance with accounting standards codification (asc) topic, income taxes. This standard clarifies the accounting for uncertainty in tax positions and prescribes a recognition threshold and measurement attribute for the combined general purpose financial statements regarding a tax position taken or expected to be taken in a tax return. The foundation has determined that there are no uncertain tax positions which qualify for either recognition or disclosure in the combined general purpose financial statements at june 30, 2022. However, the informational returns for the foundation are subject to examination by the appropriate jurisdictions.”

Raw XML AppendixShowing 400 of 551 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
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IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt033934398
IRS990/OtherAssetsTotalGrp/EOYAmt031933276
IRS990/OtherChangesInNetAssetsAmt0-100000
IRS990/OtherExpensesGrp/Desc0MISCELLANEOUS
IRS990/OtherExpensesGrp/Desc1STAFF CULTURE EXPENSE
IRS990/OtherExpensesGrp/Desc2FEES
IRS990/OtherExpensesGrp/FundraisingAmt029863
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt013219
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt13982
IRS990/OtherExpensesGrp/ProgramServicesAmt0335108
IRS990/OtherExpensesGrp/ProgramServicesAmt143024
IRS990/OtherExpensesGrp/TotalAmt0378190
IRS990/OtherExpensesGrp/TotalAmt143024
IRS990/OtherExpensesGrp/TotalAmt23982
IRS990/OtherLiabilitiesGrp/BOYAmt033786167
IRS990/OtherLiabilitiesGrp/EOYAmt033070469
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt02970
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt02970
IRS990/OtherRevenueTotalAmt02970
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0246920
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0933803
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt012500
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt090237
IRS990/PrincipalOfficerNm0SETH REYNOLDS
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0532289
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/Desc1INTERCOMPANY INTEREST
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt01251850
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11198465
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01251850
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11198465
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01747774
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0750128
IRS990/PYInvestmentIncomeAmt0182590
IRS990/PYOtherExpensesAmt02870464
IRS990/PYOtherRevenueAmt0220822
IRS990/PYProgramServiceRevenueAmt02491583
IRS990/PYRevenuesLessExpensesAmt01022177
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt03620592
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt04642769
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt03683307
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt02453285
IRS990/SavingsAndTempCashInvstGrp/BOYAmt06044212
IRS990/SavingsAndTempCashInvstGrp/EOYAmt06502482
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0MISCELLANEOUS INCOME - 2017 AMOUNT: $ 12,858. 2018 AMOUNT: $ 3,497. 2020 AMOUNT: $ 220,822. 2021 AMOUNT: $ 2,970.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME:
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt05354597
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt01747774
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0957448
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt03991374
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt01618631
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt013669824
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0176421
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0182590
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0740566
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0429907
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0339522
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt01869006
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt04941898
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt02970
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt0220822
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt03497
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt012858
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0240147
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.63730
IRS990ScheduleA/PublicSupportPY170Pct00.49600
IRS990ScheduleA/PublicSupportTotal170Amt010055435
IRS990ScheduleA/SubstantialContributorsTotAmt03614389
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt05354597
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt01747774
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0957448
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt03991374
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt01618631
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt013669824
IRS990ScheduleA/TotalSupportAmt015778977
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleC/DirectContactLegislatorsAmt058500
IRS990ScheduleC/DirectContactLegislatorsInd01
IRS990ScheduleC/GrantsOtherOrganizationsInd00
IRS990ScheduleC/MailingsMembersInd00
IRS990ScheduleC/MediaAdvertisementsInd00
IRS990ScheduleC/NotDescribedSection501c3Ind00
IRS990ScheduleC/OtherActivitiesInd00
IRS990ScheduleC/PaidStaffOrManagementInd00
IRS990ScheduleC/PublicationsOrBroadcastInd00
IRS990ScheduleC/RalliesDemonstrationsInd00
IRS990ScheduleC/SupplementalInformationDetail/ExplanationTxt0PAYMENTS TO LOBBYING FIRMS.
IRS990ScheduleC/SupplementalInformationDetail/FormAndLineReferenceDesc0PART II-B, LINE 1:
IRS990ScheduleC/TotalLobbyingExpendituresAmt058500
IRS990ScheduleC/VolunteersInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt0268078
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0792339
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01060417
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt03246716
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt03246716
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt035720545
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt05288985
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt041009530
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt031928641
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt14635
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0INTERCOMPANY LEASES RECEIVABLE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1DEPOSITS
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt02991168
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt02991168
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0811179
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt132259290
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO EXCEL ACADEMY CHARTER SCHOOL
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DEFERRED INFLOW OF RESOURCES
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ACCOUNTING STANDARDS CODIFICATION (ASC) TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE COMBINED GENERAL PURPOSE FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE FOUNDATION HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE COMBINED GENERAL PURPOSE FINANCIAL STATEMENTS AT JUNE 30, 2022. HOWEVER, THE INFORMATIONAL RETURNS FOR THE FOUNDATION ARE SUBJECT TO EXAMINATION BY THE APPROPRIATE JURISDICTIONS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt042226507
IRS990ScheduleD/TotalBookValueOtherAssetsAmt031933276
IRS990ScheduleD/TotalLiabilityAmt033070469
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt06900
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt117712
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt2159000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIP GRANTS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1COVID FAMILY SUPPORTS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt2COVID STUDENT SUPPORTS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt028
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt115
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt2158
IRS990ScheduleI/RecipientTable/CashGrantAmt0201263
IRS990ScheduleI/RecipientTable/IRCSectionDesc0170(B)(1)(A)(II)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0TO SUPPORT THE FUNCTIONS OF EXCEL ACADEMY CHARTER SCHOOL.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0EXCEL ACADEMY CHARTER SCHOOL
IRS990ScheduleI/RecipientTable/RecipientEIN0432002251
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt058 MOORE STREET
IRS990ScheduleI/RecipientTable/USAddress/CityNm0EAST BOSTON
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0MA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd002128
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF TRUSTEES APPROVE GRANT AWARDS TO THE SCHOOL. FOR DIRECT GRANTS TO STUDENTS AND ALUMNI (SCHOLARSHIPS) AND GRANTS TO THE FAMILIES OF STUDENTS AND ALUMNI (SUCH AS FOR COVID-19 RELIEF), THE FOUNDATION HAS DEVELOPED SYSTEMS FOR IDENTIFYING GRANT CANDIDATES BASED ON ESTABLISHED CRITERIA THAT ARE THEN ADMINISTERED BY DESIGNATED TEAMS OF STAFF AT THE SCHOOL. THESE PROCEDURES ARE OVERSEEN BY THE SCHOOL'S FINANCE TEAM FOR ADHERENCE TO CONTROLS AND PURPOSE RESTRICTIONS
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleI/Total501c3OrgCnt01
IRS990/ScheduleJRequiredInd00
IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd0A
IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd1B
IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd01
IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd11
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd1B
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/ExceptionToRebateInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/ExceptionToRebateInd10
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd10
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd10
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd10
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd10
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd10
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd10
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd10
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd10
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02015-04-30
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt12019-10-31
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN0043431814
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN1043431814
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd1B
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd10
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt016500000
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt112000000
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0MDFA SERIES 2015 REVENUE BONDS
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt1MDFA SERIES 2019 REVENUE BONDS

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