Civic Intelligence

The Foundation Academy Studio School Inc

990 • Fiscal year 2023 • EIN 82-3895024

Jul 01, 2022 to Jun 30, 2023 • Filed on May 15, 2024

Organization ProfileWWW.TFASTUDIOSCHOOL.ORG
3675 San Pablo Road SJacksonville, FL 32224

(904) 493-7300

Siviq Scores

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

Liabilities / Assets

94th percentile

0.89x

Higher debt load relative to assets than 94% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

91st percentile

0.43x

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

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

84th percentile

35%

Higher net margin than 84% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

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

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

99th percentile

999%

Faster asset growth than 99% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

90th percentile

102%

Faster revenue growth than 90% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets94th percentile

Assets

Up

$222,163

Up $201,955 (+999%) from 2022

Net Assets

Up

$24,274

Up $159,334 (+118%) from 2022

Liabilities

Up

$197,889

Up $42,621 (+27%) from 2022

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin84th percentile

Revenue

Up

$459,785

Up $232,130 (+102%) from 2022

Expenses

Up

$300,451

Up $46,262 (+18%) from 2022

Net Income

Up

$159,334

Up $185,868 (+700%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth99th percentile

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

$400K$200K$0-$200K-$400KAssets 2021: $7,657Liabilities 2021: $116,183Net Assets 2021: -$108,5262021Assets 2022: $20,208Liabilities 2022: $155,268Net Assets 2022: -$135,0602022Assets 2023: $222,163Liabilities 2023: $197,889Net Assets 2023: $24,2742023Assets 2024: $183,912Liabilities 2024: $311,481Net Assets 2024: -$127,5692024Assets 2025: $29,078Liabilities 2025: $356,153Net Assets 2025: -$327,0752025

Highlighted filing

2023

Assets$222,163
Liabilities$197,889
Net Assets$24,274
Open 2023 Filing

Operations Trend

Revenue Growth90th percentile

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

$1.0M$500K$0-$500KRevenue 2021: $54,230Expenses 2021: $105,565Net Income 2021: -$51,3352021Revenue 2022: $227,655Expenses 2022: $254,189Net Income 2022: -$26,5342022Revenue 2023: $459,785Expenses 2023: $300,451Net Income 2023: $159,3342023Revenue 2024: $335,349Expenses 2024: $487,192Net Income 2024: -$151,8432024Revenue 2025: $437,297Expenses 2025: $636,803Net Income 2025: -$199,5062025

Highlighted filing

2023

Revenue$459,785
Expenses$300,451
Net Income$159,334
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 15, 2024
Return Version
2022v5.0
Gross Receipts
$459,785
Mission and Program Overview

Mission

To provide life-skills and career readiness education leading to certifications, paid internships and college enrollment and to deliver educational and vocational prospects developed in collaboration with employers.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net-$150,000-
Cash and Non-Interest-Bearing Accounts$19,208$72,163▲ $52,955
Other Notes and Loans Receivable, Net$1,000--
Total Assets$20,208$222,163▲ $201,955
Liabilities
Unsecured Notes Loans Payable$155,181$193,802▲ $38,621
Accounts Payable and Accrued Expenses$87$4,087▲ $4,000
Total Liabilities$155,268$197,889▲ $42,621
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-135,060$24,274▲ $159,334
Total Net Assets Fund Balance$-135,060$24,274▲ $159,334
Total Liabilities and Net Assets / Fund Balance$20,208$222,163▲ $201,955

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$130,500-$130,500
Land$19,500-$19,500
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
Madelyn HillPresident
Kenneth AmaroBoard Member
Nadia HiondiesBoard Member
Tia UnthankSecretary
Mark VanderlooVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$447,605
Program Service Revenue
$12,180
Investment Income
$0
Other Revenue
$0
All Other Contributions
$229,885
Change in Net Assets
$159,334

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 Amount
Real Estate Residential1$150,000
Other Non Cash Contri Table1$45,000
Total Noncash Contributions2$195,000

Audited Revenue Reconciliation

Revenue per Audited Statements
$459,785
Total Revenue per Audited Statements
$459,785
Total Revenue per Form 990
$459,785
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$176,590
Other Expenses$123,861
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$133,008$14,779-$147,787
Occupancy$57,023--$57,023
Payroll Taxes$25,923$2,880-$28,803
Fees for Services Accounting$10,139$9,325-$19,464
Insurance$4,588$6,412-$11,000
Fees for Services Other$360$8,452-$8,812
Office Expenses$500--$500
Advertising-$430-$430
All Other Expenses$257$24-$281
Other Expenses$91$137-$228
Total Functional Expenses$252,367$48,084$0$300,451

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$300,451
Total Expenses per Audited Statements$300,451
Total Expenses per Form 990$300,451
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“A copy of the form 990 is provided to the board of directors for review and approval prior to filing.”

Form 990, Page 6, Part VI, Line 19

“The organization makes its financial statements and form 990 available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
The Foundation Academy Studio
EIN
82-3895024
Phone
9044937300
Address
3675 SAN PABLO ROAD S, JACKSONVILLE, FL 32224

Signing Officer

Name
Madelyn Hill
Title
President
Phone
9044937300
Signed
2024-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Madelyn Hill
Formed
2018
Legal Domicile
Fl
Voting Board Members
5
Independent Board Members
5
Employees
25

Preparer

Firm
Swindell Bohn Durden & Phillips Pl
Address
3560 SOUTH THIRD STREET, JACKSONVILLE BEACH, FL 32250
Preparer
Travis B Wilson CPA
Phone
9042418176
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To provide life-skills and career readiness education leading to certifications, paid internships and college enrollment and to deliver educational and vocational prospects developed in collaboration with employers.”

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IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0447605
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0252367
IRS990/TotalFunctionalExpensesGrp/TotalAmt0300451
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IRS990/TotalProgramServiceRevenueAmt012180
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IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0193802
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IRS990/USAddress/AddressLine1Txt01067 BEACH AVE
IRS990/USAddress/CityNm0ATLANTIC BEACH
IRS990/USAddress/StateAbbreviationCd0FL
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IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.TFASTUDIOSCHOOL.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MADELYN HILL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09044937300
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE FOUNDATION ACADEMY STUDIO
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0SCHOOL INC
ReturnHeader/Filer/BusinessNameControlTxt0FOUN
ReturnHeader/Filer/EIN0823895024
ReturnHeader/Filer/PhoneNum09044937300
ReturnHeader/Filer/USAddress/AddressLine1Txt03675 SAN PABLO ROAD S
ReturnHeader/Filer/USAddress/CityNm0JACKSONVILLE
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ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0461645105
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SWINDELL BOHN DURDEN & PHILLIPS PL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03560 SOUTH THIRD STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0JACKSONVILLE BEACH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd032250
ReturnHeader/PreparerPersonGrp/PhoneNum09042418176
ReturnHeader/PreparerPersonGrp/PreparationDt02024-05-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0TRAVIS B WILSON CPA
ReturnHeader/ReturnTs02024-05-15T11:28:35-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0MADELYN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0HILL
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$222,163
Liabilities
$197,889
Net assets
$24,274
Revenue
$459,785
Expenses
$300,451
Net income
$159,334
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.29$3.56$3.27$4.37$6.37$2.00
2024Detailed filing. Detailed filing data is available for this year.$1.84$3.11$1.28$3.35$4.87$1.52
2023Detailed filing. Detailed filing data is available for this year.$2.22$1.98$0.24$4.60$3.00$1.59
2022Detailed filing. Detailed filing data is available for this year.$0.20$1.55$1.35$2.28$2.54$0.27
2021Detailed filing. Detailed filing data is available for this year.$0.08$1.16$1.09$0.54$1.06$0.51