Civic Intelligence

Georgia Magnet Charter Schools Foundations Corp

990 • Fiscal year 2017 • EIN 72-1552418

Jul 01, 2016 to Jun 30, 2017 • Filed on Nov 15, 2017

PO Box 862007Marietta, GA 30062

(678) 410-2504

Siviq Scores

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

Liabilities / Assets

88th percentile

0.87x

Higher debt load relative to assets than 88% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

86th percentile

1.79x

Higher debt load relative to revenue than 86% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Net Margin

15th percentile

-11%

Higher net margin than 15% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

47th percentile

$165,549

Higher top officer pay than 47% of similar nonprofits.

Top officer pay equals 1.7% of source-year revenue.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Asset Growth

20th percentile

-2.9%

Faster asset growth than 20% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

33rd percentile

-0.3%

Faster revenue growth than 33% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Assets

Down

$20,393,413

Down $615,554 (-2.9%) from 2016

Net Assets

Down

$2,695,565

Down $1,112,970 (-29%) from 2016

Liabilities

Up

$17,697,848

Up $497,416 (+2.9%) from 2016

Revenue

Down

$9,909,794

Down $29,072 (-0.3%) from 2016

Expenses

Up

$11,022,764

Up $1,387,861 (+14%) from 2016

Net Income

Down

-$1,112,970

Down $1,416,933 (-466%) from 2016

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0-$10MAssets 2011: $20,391,116Liabilities 2011: $12,421,923Net Assets 2011: $7,969,1932011Assets 2012: $19,998,600Liabilities 2012: $12,305,588Net Assets 2012: $7,693,0122012Assets 2013: $20,177,865Liabilities 2013: $11,835,415Net Assets 2013: $8,342,4502013Assets 2014: $19,154,579Liabilities 2014: $10,434,743Net Assets 2014: $8,719,8362014Assets 2015: $19,382,036Liabilities 2015: $15,877,464Net Assets 2015: $3,504,5722015Assets 2016: $21,008,967Liabilities 2016: $17,200,432Net Assets 2016: $3,808,5352016Assets 2017: $20,393,413Liabilities 2017: $17,697,848Net Assets 2017: $2,695,5652017Assets 2018: $18,728,436Liabilities 2018: $16,630,489Net Assets 2018: $2,097,9472018Assets 2019: $18,356,882Liabilities 2019: $16,152,780Net Assets 2019: $2,204,1022019Assets 2020: $20,337,051Liabilities 2020: $18,655,265Net Assets 2020: $1,681,7862020Assets 2021: $20,310,204Liabilities 2021: $19,149,874Net Assets 2021: $1,160,3302021Assets 2022: $21,623,935Liabilities 2022: $25,293,569Net Assets 2022: -$3,669,6342022Assets 2023: $23,337,398Liabilities 2023: $28,120,393Net Assets 2023: -$4,782,9952023Assets 2024: $19,239,603Liabilities 2024: $24,139,132Net Assets 2024: -$4,899,5292024

Highlighted filing

2017

Assets$20,393,413
Liabilities$17,697,848
Net Assets$2,695,565

Operations Trend

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

$15M$10M$5.0M$0-$5.0MExpenses 2011: $6,917,7972011Expenses 2012: $8,443,0442012Revenue 2013: $9,278,201Expenses 2013: $8,628,763Net Income 2013: $649,4382013Revenue 2014: $9,585,051Expenses 2014: $9,064,329Net Income 2014: $520,7222014Revenue 2015: $9,393,896Expenses 2015: $9,194,710Net Income 2015: $199,1862015Revenue 2016: $9,938,866Expenses 2016: $9,634,903Net Income 2016: $303,9632016Revenue 2017: $9,909,794Expenses 2017: $11,022,764Net Income 2017: -$1,112,9702017Revenue 2018: $10,668,329Expenses 2018: $11,265,947Net Income 2018: -$597,6182018Revenue 2019: $11,258,032Expenses 2019: $11,151,877Net Income 2019: $106,1552019Revenue 2020: $11,718,998Expenses 2020: $12,204,439Net Income 2020: -$485,4412020Revenue 2021: $11,855,493Expenses 2021: $12,110,414Net Income 2021: -$254,9212021Revenue 2022: $13,817,107Expenses 2022: $11,932,278Net Income 2022: $1,884,8292022Revenue 2023: $8,828,981Expenses 2023: $9,942,342Net Income 2023: -$1,113,3612023Revenue 2024: $9,073,075Expenses 2024: $9,189,609Net Income 2024: -$116,5342024

Highlighted filing

2017

Revenue$9,909,794
Expenses$11,022,764
Net Income-$1,112,970
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Nov 15, 2017
Return Version
2016v3.0
Gross Receipts
$9,909,794
Mission and Program Overview

Mission

The georgia magnet/charter schools foundation, corp. Was formed to govern hapeville charter school and career academy, a fulton county school system public charter school providing instruction to grades 9 through 12 who reside within the fulton county school system attendance zone.

The georgia magnet/charter schools foundation, corp. Was formed to govern hapeville charter school and career academy, a fulton county school system public charter school providing instruction to grades 6 through 12 who reside within the fulton county school system attendance zone.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$14,687,883$14,190,788▼ $497,095
Pd in Cap Srpls Land Bldg Eqp Fund$5,360,103$5,159,169▼ $200,934
Savings and Temporary Cash Investments$3,003,655$3,021,265▲ $17,610
Cash and Non-Interest-Bearing Accounts$1,390,676$92,123▼ $1,298,553
Prepaid Expenses and Deferred Charges$38,212$63,086▲ $24,874
Pledges and Grants Receivable$51,053$41,066▼ $9,987
Accounts Receivable$2,636$2,156▼ $480
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Cap Stk Tr Prin Current Funds$-1,551,568$-2,463,604▼ $912,036
Total Assets$21,008,967$20,393,413▼ $615,554
Other Assets Total$1,834,852$2,982,929▲ $1,148,077
Liabilities
Tax Exempt Bond Liabilities$9,327,779$9,031,619▼ $296,160
Other Liabilities$7,839,838$8,647,879▲ $808,041
Accounts Payable and Accrued Expenses$32,815$18,350▼ $14,465
Total Liabilities$17,200,432$17,697,848▲ $497,416
Net Assets / Fund Balance
Total Net Assets Fund Balance$3,808,535$2,695,565▼ $1,112,970
Total Liabilities and Net Assets / Fund Balance$21,008,967$20,393,413▼ $615,554

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$12,195,151$2,586,710$14,781,861
Land$1,381,409-$1,381,409
Equipment$193,535$964,048$1,157,583
Leasehold Improvements$391,483$444,474$835,957
Other Land Buildings$29,210$664,640$693,850
Other Assets Org$195,716--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Gary MartinPresidentFT$165,549$165,549
Jannard RaineyPrincipalFT$125,798$125,798
Matthew LindseyExecutive DirectorFT$110,000$110,000
Marcia LoweMiddle School PrincipalFT$100,940$100,940

Board Members and Trustees

NameTitle
Diane TerryCEO
Terry MartinCFO
H Lew ValeroSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$9,895,165
Program Service Revenue
$14,629
Investment Income
$0
Other Revenue
$0
All Other Contributions
$9,499,303
Change in Net Assets
$-1,112,970

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,909,794
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$9,909,794
Total Revenue per Form 990
$9,909,794
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$6,799,369
Other Expenses$4,223,395
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,887,710$632,882-$4,520,592
Pension Plan Contributions$753,547$122,668-$876,215
Other Employee Benefits$683,359$111,242-$794,601
Occupancy$590,457$65,606-$656,063
Depreciation Depletion$596,330--$596,330
Current Officers, Directors, Trustees, and Key Employees$431,967$70,320-$502,287
All Other Expenses$298,242$136,054-$434,296
Interest$351,398--$351,398
Office Expenses$215,021$52,648-$267,669
Other Expenses$203,396$79-$203,396
Payroll Taxes$90,882$14,792-$105,674
Insurance$13,227$81,254-$94,481
Fees for Services Other-$43,969-$43,969
Fees for Services Accounting-$13,323-$13,323
Advertising-$7,888-$7,888
Total Functional Expenses$9,670,039$1,352,725$0$11,022,764

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$11,022,764
Total Expenses per Audited Statements$11,022,764
Total Expenses per Form 990$11,022,764
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Net Pension Liability$8,354,157
Fair Value of Cash Flow Hedge$195,716
Deferred Inflows of Resources$41,311
Interest Payable$28,450
Due to General Fund$28,245

Bond Issues

BondIssuerIssuedIssue PricePurpose
ADevelopment Authority of Fulton County2009-07-01$11,650,000Funds used to finance a new high school construction

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$11,650,000--$105,485

Bond Financing Compliance

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

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Terry martin, cfo, is the spouse of dr. Gary martin, president of the organization.

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

Copies of form 990 are distributed to the officers of the foundation board prior to submittal to the irs. The officers are requested to review in order to have time to prepare questions for clarification. The form 990 is filed with the irs only after approval of each board member.

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

The conflict of interest policy is included as part of each regularly scheduled board meeting. Board meeting dates are set once a year and posted on the middle and high school websites.

Form 990, Part VI, Section B, Line 15

All employee salaries paid by the organization were determined by analysis of salaries of equivalent positions of the fulton county school system. The officers of the corporation review the budget (including salary levels) to be set for the following year with comparative salary schedules from the fulton county school system.

Form 990, Part VI, Section C, Line 19

Governing documents are included in the charter petition which is posted on the school's website. The conflict of interest and whistleblower policies are included in the organization's policies and procedures manual which is maintained in the offices of the principal. Financial statements are included in the annual reports submitted to the state department of education (doe) and accessible through the state doe website.

Filing and Contact Details

Filer

Filer Name
Georgia Magnetcharter Schools
EIN
72-1552418
Phone
6784102504
Address
PO BOX 862007, MARIETTA, GA 30062

Signing Officer

Name
Terry Martin
Title
CFO
Phone
6784102504
Signed
2017-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Diane Terry
Formed
2003
Legal Domicile
Ga
Voting Board Members
3
Independent Board Members
3
Employees
154
Volunteers
83

Preparer

Firm
Marshall Jones & Co
Address
26 LENOX POINTE NE, ATLANTA, GA 30324-3169
Preparer
Nathan Lummus
Phone
4042312001
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IRS990/Desc0THE ORGANIZATION'S PROGRAM SERVICE IS TO INCREASE STUDENT ACHIEVEMENT OF THE STUDENTS ATTENDING HAPEVILLE CHARTER SCHOOLS (WHICH INCLUDES HAPEVILLE CHARTER MIDDLE SCHOOL AND HAPEVILLE CHARTER CAREER ACADEMY). DURING THE 2016-2017 SCHOOL YEAR, 1,000+ STUDENTS WERE ENROLLED IN GRADES 6 THROUGH 12. THE GRADUATION RATE WAS REPORTED AT 95%. A PORTION OF THE TOTAL REVENUES OF $9,909,794 INCLUDED FEDERAL FREE/REDUCED REIMBURSEMENTS ($-) AND FEDERAL TITLE I GRANTS ($-). DURING THE 2016-2017 SCHOOL YEAR, THE TOTAL EXPENSES WERE $11,022,764.
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IRS990/OtherExpensesGrp/Desc0LUNCH EXPENSES
IRS990/OtherExpensesGrp/Desc1STUDENT ACTIVITIES AND
IRS990/OtherExpensesGrp/Desc2OTHER EXPENSES
IRS990/OtherExpensesGrp/Desc3CONTRACT LABOR
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt079
IRS990/OtherExpensesGrp/ProgramServicesAmt01048940
IRS990/OtherExpensesGrp/ProgramServicesAmt1270100
IRS990/OtherExpensesGrp/ProgramServicesAmt2235463
IRS990/OtherExpensesGrp/ProgramServicesAmt3203396
IRS990/OtherExpensesGrp/TotalAmt01048940
IRS990/OtherExpensesGrp/TotalAmt1270100
IRS990/OtherExpensesGrp/TotalAmt2235542
IRS990/OtherExpensesGrp/TotalAmt3203396
IRS990/OtherLiabilitiesGrp/BOYAmt07839838
IRS990/OtherLiabilitiesGrp/EOYAmt08647879
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0632882
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt03887710
IRS990/OtherSalariesAndWagesGrp/TotalAmt04520592
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt014792
IRS990/PayrollTaxesGrp/ProgramServicesAmt090882
IRS990/PayrollTaxesGrp/TotalAmt0105674
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt05360103
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt05159169
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt0122668
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0753547
IRS990/PensionPlanContributionsGrp/TotalAmt0876215
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt051053
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt041066
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt038212
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt063086
IRS990/PrincipalOfficerNm0DIANE TERRY
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0LUNCH FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt014629
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt014629
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt09692652
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt03678
IRS990/PYOtherExpensesAmt03604041
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0748817
IRS990/PYRevenuesLessExpensesAmt0810243
IRS990/PYSalariesCompEmpBnftPaidAmt06030863
IRS990/PYTotalExpensesAmt09634904
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt010445147
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-1112970
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt014629
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt03003655
IRS990/SavingsAndTempCashInvstGrp/EOYAmt03021265
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt012195151
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02586710
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt014781861
IRS990ScheduleD/EquipmentGrp/BookValueAmt0193535
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0964048
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01157583
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt011022764
IRS990ScheduleD/LandGrp/BookValueAmt01381409
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01381409
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0391483
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0444474
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0835957
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt028245
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1252839
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2155
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt32505974
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt4195716
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DUE FROM PROPRIETARY FUND
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1CAPITALIZED AND OTHER DEBT ISSUANCE COSTS, NET
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2OTHER CURRENT ASSETS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3DEFERRED OUTFLOWS RELATED TO PENSIONS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4ACCUMLATIVE DECREASE IN FAIR VALUE OF HEDGING DERIVATIVES
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt029210
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0664640
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0693850
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0195716
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt18354157
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt241311
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt328245
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt428450
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0FAIR VALUE OF CASH FLOW HEDGE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1NET PENSION LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2DEFERRED INFLOWS OF RESOURCES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3DUE TO GENERAL FUND
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4INTEREST PAYABLE
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt09909794
IRS990ScheduleD/TotalBookValueLandBuildingsAmt014190788
IRS990ScheduleD/TotalBookValueOtherAssetsAmt02982929
IRS990ScheduleD/TotalExpensesPerForm990Amt011022764
IRS990ScheduleD/TotalLiabilityAmt08647879
IRS990ScheduleD/TotalRevenuePerForm990Amt09909794
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt09909794
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt011022764
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0BUDGETED YEARLY FUNDING SOURCES RECEIVED BY HAPEVILLE CHARTER SCHOOL AND CAREER ACADEMY (WHICH IS GOVERNED BY THE GEORGIA MAGNET/CHARTER SCHOOLS FOUNDATION, CORP.) INCLUDE: (1) PER STUDENT FUNDING FROM THE FULTON COUNTY SCHOOL SYSTEM BASED ON STATE DEPARTMENT OF EDUCATION (DOE) DISBURSEMENTS IN ADDITION TO FULTON COUNTY SCHOOL SYSTEM DISBURSEMENTS; (2) TITLE I FUNDING (PART A, DISADVANTAGED STUDENTS); (3) TITLE I FUNDING (PART A, ARRA); (4) NATIONAL SCHOOL LUNCH PROGRAM AND THE SCHOOL BREAKFAST PROGRAM. FACILITIES GRANTS ARE AVAILABLE TO CHARTER SCHOOLS IN THE STATE OF GEORGIA WHICH REQUIRE A YEARLY APPLICATION PROCESS FOR REVIEW AND POSSIBLE APPROVAL BY THE STATE DOE CHARTER SCHOOLS OFFICE OR THE STATE BOARD OF EDUCATION.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 6
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0165549
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0GARY MARTIN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0165549
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd0A
IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/ExceptionToRebateInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd01
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd01
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeProviderName/BusinessNameLine1Txt0BB&T
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeTerminatedInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/SuperintegratedHedgeInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/TermOfHedgePct05.000000000000
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd01
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02009-07-01
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt011650000
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0DEVELOPMENT AUTHORITY OF FULTON COUNTY
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0FUNDS USED TO FINANCE A NEW HIGH SCHOOL CONSTRUCTION
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd01
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdvanceRefundingInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalExpendituresAmt011428559
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CurrentRefundingInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd01

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$19.2$24.1$4.90$9.07$9.19$0.12
2023Detailed filing. Detailed filing data is available for this year.$23.3$28.1$4.78$8.83$9.94$1.11
2022Detailed filing. Detailed filing data is available for this year.$21.6$25.3$3.67$13.8$11.9$1.88
2021Detailed filing. Detailed filing data is available for this year.$20.3$19.1$1.16$11.9$12.1$0.25
2020Detailed filing. Detailed filing data is available for this year.$20.3$18.7$1.68$11.7$12.2$0.49
2019Detailed filing. Detailed filing data is available for this year.$18.4$16.2$2.20$11.3$11.2$0.11
2018Detailed filing. Detailed filing data is available for this year.$18.7$16.6$2.10$10.7$11.3$0.60
2017Detailed filing. Detailed filing data is available for this year.$20.4$17.7$2.70$9.91$11.0$1.11
2016Detailed filing. Detailed filing data is available for this year.$21.0$17.2$3.81$9.94$9.63$0.30
2015Detailed filing. Detailed filing data is available for this year.$19.4$15.9$3.50$9.39$9.19$0.20
2014Detailed filing. Detailed filing data is available for this year.$19.2$10.4$8.72$9.59$9.06$0.52
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.2$11.8$8.34$9.28$8.63$0.65
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.0$12.3$7.69$8.44
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.4$12.4$7.97$6.92