Civic Intelligence

Friends of Collegiate Academies Inc

EIN 82-2266447 • 501(c)3 • New Orleans, LA

Profile

Friends of collegiate academies, inc. Is operated for the benefit of collegiate academies, and organization exempt from federal income tax under section 501c3 of the internal revenue code.

7301 Dwyer RoadNew Orleans, LA 70126-4215

n/A

Siviq Scores

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

Liabilities / Assets

93rd percentile

0.98x

Higher debt load relative to assets than 93% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

98th percentile

12.65x

Higher debt load relative to revenue than 98% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

11th percentile

-25%

Higher net margin than 11% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

23rd percentile

$0

Higher top officer pay than 23% of similar nonprofits.

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

501(c)3 • $5M-$10M nonprofits • Source year 2024

Asset Growth

28th percentile

-2.2%

Faster asset growth than 28% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

77th percentile

30%

Faster revenue growth than 77% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Down

$9,750,896

Down $221,347 (-2.2%) from 2023

Liabilities

Down

$9,575,947

Down $31,860 (-0.3%) from 2023

Net Assets

Down

$174,949

Down $189,487 (-52%) from 2023

Operations
Liabilities / Revenue98th percentileNet Margin11th percentile

Revenue

Up

$757,164

Up $176,899 (+30%) from 2023

Expenses

Up

$946,651

Up $253,574 (+37%) from 2023

Net Income

Down

-$189,487

Down $76,675 (-68%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth28th percentile

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

$15M$10M$5.0M$0Assets 2019: $7,638,591Liabilities 2019: $6,628,862Net Assets 2019: $1,009,7292019Assets 2020: $10,687,682Liabilities 2020: $9,920,804Net Assets 2020: $766,8782020Assets 2021: $10,439,966Liabilities 2021: $9,843,247Net Assets 2021: $596,7192021Assets 2022: $10,205,971Liabilities 2022: $9,728,723Net Assets 2022: $477,2482022Assets 2023: $9,972,243Liabilities 2023: $9,607,807Net Assets 2023: $364,4362023Assets 2024: $9,750,896Liabilities 2024: $9,575,947Net Assets 2024: $174,9492024

Highlighted filing

2024

Assets$9,750,896
Liabilities$9,575,947
Net Assets$174,949
Open 2024 Filing

Operations Trend

Revenue Growth77th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2019: $1,079,453Expenses 2019: $70,653Net Income 2019: $1,008,8002019Revenue 2020: $358,664Expenses 2020: $601,515Net Income 2020: -$242,8512020Revenue 2021: $570,356Expenses 2021: $740,515Net Income 2021: -$170,1592021Revenue 2022: $578,786Expenses 2022: $698,257Net Income 2022: -$119,4712022Revenue 2023: $580,265Expenses 2023: $693,077Net Income 2023: -$112,8122023Revenue 2024: $757,164Expenses 2024: $946,651Net Income 2024: -$189,4872024

Highlighted filing

2024

Revenue$757,164
Expenses$946,651
Net Income-$189,487
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,750,896
Liabilities
$9,575,947
Net assets
$174,949
Revenue
$757,164
Expenses
$946,651
Net income
-$189,487
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$9.75$9.58$0.17$0.76$0.95$0.19
2023Detailed filing. Detailed filing data is available for this year.$9.97$9.61$0.36$0.58$0.69$0.11
2022Detailed filing. Detailed filing data is available for this year.$10.2$9.73$0.48$0.58$0.70$0.12
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.4$9.84$0.60$0.57$0.74$0.17
2020Detailed filing. Detailed filing data is available for this year.$10.7$9.92$0.77$0.36$0.60$0.24
2019Detailed filing. Detailed filing data is available for this year.$7.64$6.63$1.01$1.08$0.07$1.01
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 6, 2025
Return Version
2023v6.0
Gross Receipts
$757,164
Mission and Program Overview

Mission

Friends of collegiate academies, inc. Is operated for the benefit of collegiate academies, and organization exempt from federal income tax under section 501c3 of the internal revenue code.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$9,736,185$9,460,573▼ $275,612
Cash and Non-Interest-Bearing Accounts$139,626$188,777▲ $49,151
Pledges and Grants Receivable$96,432$60,060▼ $36,372
Total Assets$9,972,243$9,750,896▼ $221,347
Other Assets Total$0$41,486▲ $41,486
Liabilities
Other Liabilities$9,194,341$9,376,489▲ $182,148
Unsecured Notes Loans Payable$101,573$158,821▲ $57,248
Accounts Payable and Accrued Expenses$311,893$40,637▼ $271,256
Total Liabilities$9,607,807$9,575,947▼ $31,860
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$364,436$174,949▼ $189,487
Total Net Assets Fund Balance$364,436$174,949▼ $189,487
Total Liabilities and Net Assets / Fund Balance$9,972,243$9,750,896▼ $221,347

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$9,046,781$1,290,827$10,337,608
Land$360,000-$360,000
Equipment$53,792$51,422$105,214
Compensation and Service Providers
Top Officer Pay23rd percentile

Board Members and Trustees

NameTitle
Stephen R RosenthalPresident
Jonathan WilsonBoard Member
Terrance LockettBoard Member
Gregor Michael St EtienneSecretary
Douglas W FineganTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$4,300
Other Revenue
$752,864
Change in Net Assets
$-189,487
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$946,651
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$435,263$141,724-$576,987
Depreciation Depletion$221,050$57,926-$278,976
Office Expenses-$75,635-$75,635
Fees for Services Accounting-$15,053-$15,053
Total Functional Expenses$656,313$290,338$0$946,651
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
Shcu Note (9/27/23) Loan Payable$9,376,489
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“A draft of the return is circulated to members of the governing board, who are given the opportunity to review the return prior to filing form. Once the return is completed, the chairman reviews, signs, and mails the return.”

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

“Organization regularly and consistently monitors and enforces compliance with the conflict of interest policy.”

Form 990, Part VI, Section C, Line 19

“The governing documents, policies and tax returns are available upon request. The tax returns may also be viewed at www.guidestar.org.”

Filing and Contact Details

Filer

Filer Name
Friends of Collegiate Academies Inc
EIN
82-2266447
Phone
5045030008
Address
7301 DWYER ROAD, NEW ORLEANS, LA 70126-4215

Signing Officer

Name
Stephen Rosenthal
Title
President
Phone
5045030008
Signed
2025-05-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephen Rosenthal
Formed
2017
Legal Domicile
La
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Cri Advisors LLC
Address
3850 N CAUSEWAY BLVD 1400, METAIRIE, LA 70002
Preparer
Melissa Y Duhon CPA
Phone
5048379116
Supplemental Narrative

Additional Explanations

Form 990 Part XII Line 2C

“Organization has committee that assumes responsibility for oversight of the audit.”

Financial Statement Notes

PART X, LINE 2:

“Under section 501(c)(3) of the internal revenue code, the organizations are exempt from taxes on income other than unrelated business income. There was no unrelated business income for the years ended june 30, 2024 and 2023, respectively. The organizations utilize the accounting requirements associated with uncertainty in income taxes using the provisions of fasb asc 740, income taxes. Using that guidance, tax positions initially need to be recognized in the combined financial statements when it is more-likely-than-not the positions will be sustained upon examination by the tax authorities. It also provides guidance for derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. As of june 30, 2024 and 2023, the organizations have no uncertain tax positions that qualify for recognition or disclosure in the combined financial statements.”

Raw XML Appendix372 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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IRS990ScheduleD/TotalLiabilityAmt09376489
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A DRAFT OF THE RETURN IS CIRCULATED TO MEMBERS OF THE GOVERNING BOARD, WHO ARE GIVEN THE OPPORTUNITY TO REVIEW THE RETURN PRIOR TO FILING FORM. ONCE THE RETURN IS COMPLETED, THE CHAIRMAN REVIEWS, SIGNS, AND MAILS THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING DOCUMENTS, POLICIES AND TAX RETURNS ARE AVAILABLE UPON REQUEST. THE TAX RETURNS MAY ALSO BE VIEWED AT WWW.GUIDESTAR.ORG.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ORGANIZATION HAS COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990 PART XII LINE 2C
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0COLLEGIATE ACADEMIES
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0800601507
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0LA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0EDUCATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0170(B)(1)(A)(II)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt05552 READ BLVD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0NEW ORLEANS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0LA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd070127
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd01
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt039835
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0CASH - FAIR MARKET VALUE
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0COLLEGIATE ACADEMIES
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0E
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0LA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt09972243
IRS990/TotalAssetsEOYAmt09750896
IRS990/TotalAssetsGrp/BOYAmt09972243
IRS990/TotalAssetsGrp/EOYAmt09750896
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0290338
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0656313
IRS990/TotalFunctionalExpensesGrp/TotalAmt0946651
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt09607807
IRS990/TotalLiabilitiesEOYAmt09575947
IRS990/TotalLiabilitiesGrp/BOYAmt09607807
IRS990/TotalLiabilitiesGrp/EOYAmt09575947
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0364436
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0174949
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0656313
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt04300
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0752864
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0757164
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt09972243
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt09750896
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0101573
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0158821
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt07301 DWYER ROAD
IRS990/USAddress/CityNm0NEW ORLEANS
IRS990/USAddress/StateAbbreviationCd0LA
IRS990/USAddress/ZIPCd0701264215
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0STEPHEN ROSENTHAL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05045030008
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-05-06
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FRIENDS OF COLLEGIATE ACADEMIES INC
ReturnHeader/Filer/BusinessNameControlTxt0FRIE
ReturnHeader/Filer/EIN0822266447
ReturnHeader/Filer/PhoneNum05045030008
ReturnHeader/Filer/USAddress/AddressLine1Txt07301 DWYER ROAD
ReturnHeader/Filer/USAddress/CityNm0NEW ORLEANS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0LA
ReturnHeader/Filer/USAddress/ZIPCd0701264215
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0994625061
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CRI ADVISORS LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03850 N CAUSEWAY BLVD 1400
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0METAIRIE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0LA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd070002
ReturnHeader/PreparerPersonGrp/PhoneNum05048379116
ReturnHeader/PreparerPersonGrp/PreparationDt02025-05-06
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MELISSA Y DUHON CPA
ReturnHeader/ReturnTs02025-05-13T11:31:30-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

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