Civic Intelligence

Quixote Foundation

990 • Fiscal year 2024 • EIN 85-0997197

Jul 01, 2023 to Jun 30, 2024 • Filed on Jan 19, 2025

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

83rd percentile

0.58x

Higher debt load relative to assets than 83% of similar nonprofits.

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

Liabilities / Revenue

92nd percentile

2.46x

Higher debt load relative to revenue than 92% of similar nonprofits.

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

Net Margin

93rd percentile

61%

Higher net margin than 93% of similar nonprofits.

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

Top Officer Pay

25th percentile

$40,125

Higher top officer pay than 25% of similar nonprofits.

Top officer pay equals 2.4% of source-year revenue.

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

Asset Growth

42nd percentile

2.2%

Faster asset growth than 42% of similar nonprofits.

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

Revenue Growth

89th percentile

80%

Faster revenue growth than 89% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Up

$6,993,278

Up $153,657 (+2.2%) from 2023

Net Assets

Up

$2,943,278

Up $1,000,684 (+52%) from 2023

Liabilities

Down

$4,050,000

Down $847,027 (-17%) from 2023

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin93rd percentile

Revenue

Up

$1,648,984

Up $734,194 (+80%) from 2023

Expenses

Up

$648,300

Up $311,742 (+93%) from 2023

Net Income

Up

$1,000,684

Up $422,452 (+73%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth42nd 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

2024

Assets$6,993,278
Liabilities$4,050,000
Net Assets$2,943,278
Open 2024 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

2024

Revenue$1,648,984
Expenses$648,300
Net Income$1,000,684
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Jan 19, 2025
Return Version
2023v6.0
Gross Receipts
$1,648,984
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$6,498,729$6,325,618▼ $173,111
Savings and Temporary Cash Investments$302,827$636,165▲ $333,338
Intangible Assets$22,333$19,961▼ $2,372
Cash and Non-Interest-Bearing Accounts$15,732$11,534▼ $4,198
Total Assets$6,839,621$6,993,278▲ $153,657
Liabilities
Other Liabilities$4,897,027$4,050,000▼ $847,027
Total Liabilities$4,897,027$4,050,000▼ $847,027
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,942,594$2,943,278▲ $1,000,684
Total Net Assets Fund Balance$1,942,594$2,943,278▲ $1,000,684
Total Liabilities and Net Assets / Fund Balance$6,839,621$6,993,278▲ $153,657

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$6,253,618$497,693$6,751,311
Land$72,000-$72,000
Compensation and Service Providers
Top Officer Pay25th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Gifford ShawAt-large DirectorPT$40,125$40,125

Board Members and Trustees

NameTitle
Danielle ThompsonAt-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
$1,648,863
Program Service Revenue
$0
Investment Income
$121
Other Revenue
$0
All Other Contributions
$1,648,863
Change in Net Assets
$1,000,684
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$648,300
Total Fundraising Expense$175,285
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$294,296--$294,296
Depreciation Depletion$175,483--$175,483
Advertising--$175,285$175,285
Fees for Services Legal-$1,048-$1,048
Office Expenses-$1,038-$1,038
Fees for Services Accounting-$975-$975
Other Expenses-$162-$162
Fees for Services Other-$13-$13
Total Functional Expenses$469,779$3,236$175,285$648,300
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
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 annually in order to identify any potential conflicts of interest.”

Form 990, Page 6, Part VI, Line 19

“The organization makes its governing documents, conflicts of interest policy, and financial statements available to the public upon request.”

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
2025-01-19
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.”

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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 ANNUALLY IN ORDER TO IDENTIFY ANY POTENTIAL CONFLICTS OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
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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IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0LEASE AGREEMENT
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IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0J
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IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt06839621
IRS990/TotalAssetsEOYAmt06993278
IRS990/TotalAssetsGrp/BOYAmt06839621
IRS990/TotalAssetsGrp/EOYAmt06993278
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IRS990/TotalContributionsAmt01648863
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0175285
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt03236
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0469779
IRS990/TotalFunctionalExpensesGrp/TotalAmt0648300
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt04897027
IRS990/TotalLiabilitiesEOYAmt04050000
IRS990/TotalLiabilitiesGrp/BOYAmt04897027
IRS990/TotalLiabilitiesGrp/EOYAmt04050000
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01942594
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02943278
IRS990/TotalProgramServiceExpensesAmt0469779
IRS990/TotalRevenueGrp/ExclusionAmt0121
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01648984
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt06839621
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt06993278
IRS990/TotReportableCompRltdOrgAmt040125
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0100 N MAIN STREET
IRS990/USAddress/CityNm0SUMTER
IRS990/USAddress/StateAbbreviationCd0SC
IRS990/USAddress/ZIPCd029150
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MEAGAN KUHLMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum08034188228
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-01-19
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0QUIXOTE FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0QUIX
ReturnHeader/Filer/EIN0850997197
ReturnHeader/Filer/PhoneNum08034188228
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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
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ReturnHeader/PreparerPersonGrp/PreparerPersonNm0PORTER L THOMPKINS JR CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02025-01-23T15:28:39-05:00
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
$6,993,278
Liabilities
$4,050,000
Net assets
$2,943,278
Revenue
$1,648,984
Expenses
$648,300
Net income
$1,000,684
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