Civic Intelligence

The Foundation Academy Studio School Inc

990 • Fiscal year 2024 • EIN 82-3895024

Jul 01, 2023 to Jun 30, 2024 • Filed on Jan 27, 2025

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

96th percentile

1.69x

Higher debt load relative to assets than 96% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

95th percentile

0.93x

Higher debt load relative to revenue than 95% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Net Margin

10th percentile

-45%

Higher net margin than 10% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Top Officer Pay

79th percentile

$0

Higher top officer pay than 79% of similar nonprofits.

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

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Asset Growth

26th percentile

-17%

Faster asset growth than 26% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

20th percentile

-27%

Faster revenue growth than 20% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets96th percentile

Assets

Down

$183,912

Down $38,251 (-17%) from 2023

Net Assets

Down

-$127,569

Down $151,843 (-626%) from 2023

Liabilities

Up

$311,481

Up $113,592 (+57%) from 2023

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin10th percentile

Revenue

Down

$335,349

Down $124,436 (-27%) from 2023

Expenses

Up

$487,192

Up $186,741 (+62%) from 2023

Net Income

Down

-$151,843

Down $311,177 (-195%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth26th 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

2024

Assets$183,912
Liabilities$311,481
Net Assets-$127,569
Open 2024 Filing

Operations Trend

Revenue Growth20th 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

2024

Revenue$335,349
Expenses$487,192
Net Income-$151,843
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Jan 27, 2025
Return Version
2023v6.0
Gross Receipts
$335,349
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$150,000→ $0
Cash and Non-Interest-Bearing Accounts$72,163$33,762▼ $38,401
Accounts Receivable-$150-
Total Assets$222,163$183,912▼ $38,251
Liabilities
Unsecured Notes Loans Payable$193,802$307,329▲ $113,527
Accounts Payable and Accrued Expenses$4,087$4,152▲ $65
Total Liabilities$197,889$311,481▲ $113,592
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$24,274$-127,569▼ $151,843
Total Net Assets Fund Balance$24,274$-127,569▼ $151,843
Total Liabilities and Net Assets / Fund Balance$222,163$183,912▼ $38,251

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$130,500-$130,500
Land$19,500-$19,500
Compensation and Service Providers
Top Officer Pay79th percentile

Board Members and Trustees

NameTitle
Nadia HiondiesPresident
Kenneth AmaroBoard Member
Tia UnthankOfficer
Madaline HillSecretary
Mark VanderlooVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$310,277
Program Service Revenue
$25,072
Investment Income
$0
Other Revenue
$0
All Other Contributions
$65,933
Change in Net Assets
$-151,843

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
Other Non Cash Contri Table1$45,000
Total Noncash Contributions1$45,000

Audited Revenue Reconciliation

Revenue per Audited Statements
$335,349
Total Revenue per Audited Statements
$335,349
Total Revenue per Form 990
$335,349
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$322,250
Other Expenses$164,942
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$239,601$26,622-$266,223
Payroll Taxes$50,424$5,603-$56,027
Occupancy$43,362--$43,362
Fees for Services Accounting$15,927$7,451-$23,378
Insurance$3,514$6,498-$10,012
Fees for Services Other$2,195$3,865-$6,060
All Other Expenses$2,484$968-$3,452
Other Expenses$3,180$1,211-$3,180
Office Expenses$1,200--$1,200
Advertising$266--$266
Total Functional Expenses$429,974$57,218$0$487,192

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$487,192
Total Expenses per Audited Statements$487,192
Total Expenses per Form 990$487,192
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
Madaline Hill
Title
Secretary
Phone
9044937300
Signed
2025-01-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Madaline Hill
Formed
2018
Legal Domicile
Fl
Voting Board Members
5
Independent Board Members
5
Employees
39
Volunteers
80

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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS FINANCIAL STATEMENTS AND FORM 990 AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TaxablePartyNotificationInd0false
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0429974
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IRS990/TotalProgramServiceRevenueAmt025072
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0183912
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IRS990/TypeOfOrganizationCorpInd0X
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IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0193802
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0307329
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IRS990/USAddress/AddressLine1Txt01067 BEACH AVE
IRS990/USAddress/CityNm0ATLANTIC BEACH
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd032233
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IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.TFASTUDIOSCHOOL.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MADALINE HILL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum09044937300
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-01-27
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE FOUNDATION ACADEMY STUDIO
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0SCHOOL INC
ReturnHeader/Filer/BusinessNameControlTxt0FOUN
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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/PreparationDt02025-01-27
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0TRAVIS B WILSON CPA
ReturnHeader/ReturnTs02025-01-27T15:00:22-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$183,912
Liabilities
$311,481
Net assets
-$127,569
Revenue
$335,349
Expenses
$487,192
Net income
-$151,843
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