Civic Intelligence

Quixote Foundation

990 • Fiscal year 2023 • EIN 85-0997197

Jul 01, 2022 to Jun 30, 2023 • Filed on Jan 12, 2024

Organization Profile
100 N Main StreetSumter, SC 29150

(803) 418-8228

Siviq Scores

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

Liabilities / Assets

87th percentile

0.72x

Higher debt load relative to assets than 87% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

95th percentile

5.35x

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

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Net Margin

94th percentile

63%

Higher net margin than 94% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

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

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Asset Growth

99th percentile

356%

Faster asset growth than 99% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2023

Revenue Growth

89th percentile

66%

Faster revenue growth than 89% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2023

Balance Sheet
Liabilities / Assets87th percentile

Assets

Up

$6,839,621

Up $6,510,215 (+1976%) from 2021

Net Assets

Up

$1,942,594

Up $1,613,188 (+490%) from 2021

Liabilities

Up

$4,897,027

Up $4,897,027 from 2021

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin94th percentile

Revenue

Up

$914,790

Up $584,741 (+177%) from 2021

Expenses

Up

$336,558

Up $335,915 (+52242%) from 2021

Net Income

Up

$578,232

Up $248,826 (+76%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth99th percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2020: $1Liabilities 2020: $02020Assets 2021: $329,406Liabilities 2021: $0Net Assets 2021: $329,4062021Assets 2023: $6,839,621Liabilities 2023: $4,897,027Net Assets 2023: $1,942,5942023Assets 2024: $6,993,278Liabilities 2024: $4,050,000Net Assets 2024: $2,943,2782024Assets 2025: $6,322,402Liabilities 2025: $2,100,000Net Assets 2025: $4,222,4022025

Highlighted filing

2023

Assets$6,839,621
Liabilities$4,897,027
Net Assets$1,942,594
Open 2023 Filing

Operations Trend

Revenue Growth89th percentile

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

$3.0M$2.0M$1.0M$0Revenue 2020: $0Expenses 2020: $0Net Income 2020: $02020Revenue 2021: $330,049Expenses 2021: $643Net Income 2021: $329,4062021Revenue 2023: $914,790Expenses 2023: $336,558Net Income 2023: $578,2322023Revenue 2024: $1,648,984Expenses 2024: $648,300Net Income 2024: $1,000,6842024Revenue 2025: $2,098,528Expenses 2025: $819,404Net Income 2025: $1,279,1242025

Highlighted filing

2023

Revenue$914,790
Expenses$336,558
Net Income$578,232
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Jan 12, 2024
Return Version
2022v5.0
Gross Receipts
$926,740
Mission and Program Overview

Mission

Quixote foundation is set up as a type ii supporting organization exclusively for the benefit of liberty steam charter school and to carry out liberty steam charter school's program initiatives that support the broader community of sumter, south carolina.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$6,671,839$6,498,729▼ $173,110
Savings and Temporary Cash Investments-$302,827-
Intangible Assets-$22,333-
Cash and Non-Interest-Bearing Accounts$514,198$15,732▼ $498,466
Total Assets$7,187,673$6,839,621▼ $348,052
Other Assets Total$1,636--
Liabilities
Other Liabilities$5,823,311$4,897,027▼ $926,284
Total Liabilities$5,823,311$4,897,027▼ $926,284
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,364,362$1,942,594▲ $578,232
Total Net Assets Fund Balance$1,364,362$1,942,594▲ $578,232
Total Liabilities and Net Assets / Fund Balance$7,187,673$6,839,621▼ $348,052

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$6,426,729$324,582$6,751,311
Land$72,000-$72,000
Compensation and Service Providers
Top Officer Pay22nd percentile

Board Members and Trustees

NameTitle
Danielle ThompsonAt-large Director
Gifford ShawAt-large Director
Lewis ThompsonAt-large Director
Cammy ChandlerSchool Direc
Dexter DavisSchool Direc
Greg ThompsonSchool Direc
Jenny KnopfSchool Direc
Meagan KuhlmanSecretary
Curtis HuttoTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$914,479
Program Service Revenue
$0
Investment Income
$311
Other Revenue
$0
All Other Contributions
$914,479
Change in Net Assets
$578,232
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$336,558
Total Fundraising Expense$12,000
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$174,493--$174,493
Occupancy$143,969--$143,969
Advertising--$12,000$12,000
Fees for Services Accounting-$5,108-$5,108
Other Expenses-$988-$988
Total Functional Expenses$318,462$6,096$12,000$336,558
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
N/p First Citizens - Building$4,050,000
Note Payable$847,027
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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, Page 6, Part VI, Line 2

“Greg thompson danielle thompson school direc at-large dir spouse greg thompson lewis thompson school direc at-large dir brother”

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

“The governing board of directors meets to review the 990 and the corresponding annual financials prior to its filing. The governing board does routinely review monthly financials as well.”

Form 990, Page 6, Part VI, Line 12C

“Directors are required to read and sign our conflict of interest policy yearly.”

Form 990, Page 6, Part VI, Line 19

“All governing documents, conflict of interest policy and financial statements are available upon request at any time.”

Filing and Contact Details

Filer

Filer Name
Quixote Foundation
EIN
85-0997197
Phone
8034188228
Address
100 N MAIN STREET, SUMTER, SC 29150

Signing Officer

Name
Meagan Kuhlman
Title
Secretary
Phone
8034188228
Signed
2024-01-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gifford Shaw
Formed
2020
Legal Domicile
Sc
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
Porter L Thompkins Jr CPA
Address
409 N SALEM AVENUE, SUMTER, SC 29150
Preparer
Porter L Thompkins Jr CPA
Phone
8037731151
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Quixote foundation is set up as a type ii supporting organization exclusively for the benefit of liberty steam charter school and to carry out liberty steam charter school's program initiatives that support the broader community of sumter, south carolina.”

Form 990, Page 2, Part III, Line 4D

“To support the liberty steam charter school.”

Raw XML Appendix343 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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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE AT-LARGE DIRECTORS OF THE QUIXOTE FOUNDATION HAVE THE EXCLUSIVE RIGHT TO ELECT AND REMOVE SCHOOL DIRECTORS. THE FAMILY RELATIONSHIPS ARE EFFECTIVELY MINIMIZED VIA SEGREGATION BETWEEN AT-LARGE DIRECTORS AND SCHOOL DIRECTORS. THE FOUNDATION'S BY-LAWS CALL FOR A CERTAIN AMOUNT OF DIRECTORS OVERLAP WITH THE BOARD OF LIBERTY STEAM CHARTER SCHOOL.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0QUIXOTE FOUNDATION IS SET UP AS A TYPE II SUPPORTING ORGANIZATION EXCLUSIVELY FOR THE BENEFIT OF LIBERTY STEAM CHARTER SCHOOL AND TO CARRY OUT LIBERTY STEAM CHARTER SCHOOL'S PROGRAM INITIATIVES THAT SUPPORT THE BROADER COMMUNITY OF SUMTER, SOUTH CAROLINA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TO SUPPORT THE LIBERTY STEAM CHARTER SCHOOL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GREG THOMPSON DANIELLE THOMPSON SCHOOL DIREC AT-LARGE DIR SPOUSE GREG THOMPSON LEWIS THOMPSON SCHOOL DIREC AT-LARGE DIR BROTHER
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE GOVERNING BOARD OF DIRECTORS MEETS TO REVIEW THE 990 AND THE CORRESPONDING ANNUAL FINANCIALS PRIOR TO ITS FILING. THE GOVERNING BOARD DOES ROUTINELY REVIEW MONTHLY FINANCIALS AS WELL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DIRECTORS ARE REQUIRED TO READ AND SIGN OUR CONFLICT OF INTEREST POLICY YEARLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ALL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AT ANY TIME.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt07187673
IRS990/TotalAssetsEOYAmt06839621
IRS990/TotalAssetsGrp/BOYAmt07187673
IRS990/TotalAssetsGrp/EOYAmt06839621
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0914479
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt012000
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt06096
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0318462
IRS990/TotalFunctionalExpensesGrp/TotalAmt0336558
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt05823311
IRS990/TotalLiabilitiesEOYAmt04897027
IRS990/TotalLiabilitiesGrp/BOYAmt05823311
IRS990/TotalLiabilitiesGrp/EOYAmt04897027
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01364362
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01942594
IRS990/TotalProgramServiceExpensesAmt0318462
IRS990/TotalRevenueGrp/ExclusionAmt0162
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0149
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0914790
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt07187673
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt06839621
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0SUMTER
IRS990/USAddress/StateAbbreviationCd0SC
IRS990/USAddress/ZIPCd029150
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MEAGAN KUHLMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum08034188228
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-01-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0QUIXOTE FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0QUIX
ReturnHeader/Filer/EIN0850997197
ReturnHeader/Filer/PhoneNum08034188228
ReturnHeader/Filer/USAddress/AddressLine1Txt0100 N MAIN STREET
ReturnHeader/Filer/USAddress/CityNm0SUMTER
ReturnHeader/Filer/USAddress/StateAbbreviationCd0SC
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0570789856
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PORTER L THOMPKINS JR CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0409 N SALEM AVENUE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SUMTER
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0SC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd029150
ReturnHeader/PreparerPersonGrp/PhoneNum08037731151
ReturnHeader/PreparerPersonGrp/PreparationDt02024-01-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0PORTER L THOMPKINS JR CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02024-01-23T14:39:21-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0MEGHAN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0KULHMAN
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

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Filings

Displayed year

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

Open filing
Assets
$6,839,621
Liabilities
$4,897,027
Net assets
$1,942,594
Revenue
$914,790
Expenses
$336,558
Net income
$578,232
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.32$2.10$4.22$2.10$0.82$1.28
2024Detailed filing. Detailed filing data is available for this year.$6.99$4.05$2.94$1.65$0.65$1.00
2023Detailed filing. Detailed filing data is available for this year.$6.84$4.90$1.94$0.91$0.34$0.58
2021Detailed filing. Detailed filing data is available for this year.$0.33$0.00$0.33$0.33$0.00$0.33
2020Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00