Nonprofit · EIN 27-2091277
FRIENDS OF FOUNDATION ACADEMY INC
Tax-exempt · TRENTON, NJ 08618
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $2,710,400 | $2,345,668 | $364,732 | $81,942,860 | $78,716,091 | $3,226,769 |
| June 30, 2024 | 990 | $1,308,775 | $1,249,937 | $58,838 | $17,294,993 | $14,424,970 | $2,870,023 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $843,769
- Program service revenue
- $779,793
- Investment income
- $1,082,132
- Net gain from sales of assets
- $246
- Other revenue
- $4,706
Expenses
- Grants and similar amounts paid
- $62,474
- Compensation of officers, directors and key employees
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $5,500
- Accounting fees
- $137,365
- Travel
- $40,064
- Program services (functional)
- $1,959,998
- Management and general (functional)
- $269,934
- Fundraising (functional)
- $115,736
Balance sheet and other
- Total assets, start of year
- $17,294,993
- Total assets, end of year
- $81,942,860
- Total liabilities, end of year
- $78,716,091
- Net assets, end of year
- $3,226,769
- Land, buildings and equipment
- $18,804,625
- Publicly traded securities
- $39,006
- Net assets without donor restrictions
- $3,107,869
- Net assets with donor restrictions
- $118,900
- Gross receipts
- $3,345,250
- Employees
- 0
- Volunteers
- 7
- Year formed
- 2010
- State of legal domicile
- NJ
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Donald Hofmann | Chair Trustee or director, Officer | 4 | $0 |
| Anthony Klockenbrink | Vice-Chair Trustee or director, Officer | 4 | $0 |
| Betsy Rendall | Secretary Trustee or director, Officer | 4 | $0 |
| Jacqueline Griffith | Treasurer Trustee or director, Officer | 4 | $0 |
| Dr Fitzroy Dawkins | Board Member Trustee or director | 1 | $0 |
| Jorgen Bundgaard Hansen | Board Member Trustee or director | 1 | $0 |
| Tamara Franklin | Board Member Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 8 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Donald Hofmann | Board Chair Trustee or director, Officer | 4 | $0 |
| Reid McCarthy | Treasurer (Term 6-30-2024) Trustee or director, Officer | 4 | $0 |
| Anthony Klockenbrink | Secretary Trustee or director, Officer | 4 | $0 |
| Betsy Rendall | BOARD MEMBER Trustee or director | 1 | $0 |
| Dr Fitzroy Dawkins | BOARD MEMBER Trustee or director | 1 | $0 |
| Howard Powers | BOARD MEMBER (Term 6-30-2024) Trustee or director | 1 | $0 |
| Jorgen Bundgaard Hansen | BOARD MEMBER Trustee or director | 1 | $0 |
| Andre Moore | BOARD MEMBER Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 363 W STATE ST, TRENTON, NJ 08618-5705
- In care of
- % DONALD HOFMANN
- Mailing address (990-N for 2017)
- PO Box 4093, Trenton NJ 08610
- Principal officer (990 for 2024)
- Donald Hofmann, 363 W State St, Trenton, NJ 08618
- Principal officer (990-N for 2017)
- Reid McCarthy, 31 East Street, Annapolis MD 21401
- Signed the 990
- Donald Hofmann, Board Chair
- Phone
- (609) 920-9200
- Website
- WWW.FOUNDATIONACADEMIES.ORG
- Return prepared by
- WithumSmithBrown PC
Mission
THE FRIENDS OF FOUNDATION ACADEMIES SUPPORTS, ENHANCES, AND PROMOTES THE WORK OF FOUNDATION ACADEMIES BY RAISING FUNDS AND DELIVERING SERVICES, PROGRAMS, AND PARTNERSHIPS THAT EQUITABLY SERVE THE BEST INTERESTS OF OUR SCHOOL COMMUNITY.
Program accomplishments
- Under NJ law, charter schools may not build facilities with public funds. To expand and improve our high school facilities, the Friends of Foundation Academies purchased the neighboring vacant Holy Cross rectory site and spent the better part of the 2018-19 school year constructing a new 10,217 square foot addition in the city's south ward. The existing school building received a complete HVAC, electrical, and interior upgrade. The Friends of FA proudly owns and maintains the high school campus and leases it back to the school.Expenses $954,477 · revenue $779,793
- Throughout college, there are several crucial moments that can put a student at risk of leaving school. The purpose of the Friends of Foundation Academy Knight Fund is to assist FAC alumni, currently enrolled in college or post-secondary institutions, in managing financial hardships that can hinder students from entering or persisting through their post-secondary schooling and careers. Through donations to the Friends of Foundation Academy, Inc, the Knight Fund provides awards, persistence grants and scholarships to deserving alumni.Expenses $62,474 · grants $62,474
- Funds raised by the Friends of FA help to fill the stark public funding gap between FA and our district counterparts. Support from donations to the Friends provides high-quality enrichment opportunities for students and drives the training, development, and celebration of our remarkable faculty.Expenses $943,047
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 27-2091277
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2011
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B11)
- Assets (IRS master file)
- $81,942,860
- Income (IRS master file)
- $3,345,250
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $2,710,400 | $2,345,668 | $81,942,860 | XML |
| 990 | June 2024 | $1,308,775 | $1,249,937 | $17,294,993 | IRS |
| 990 | June 2023 | $1,454,319 | $1,073,764 | $16,794,017 | IRS |
| 990 | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990-N for 2017 Officer: Reid McCarthy | December 31, 2017 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 27-2091277).
Questions about FRIENDS OF FOUNDATION ACADEMY INC
- What is the EIN of FRIENDS OF FOUNDATION ACADEMY INC?
- The employer identification number (EIN) of FRIENDS OF FOUNDATION ACADEMY INC is 27-2091277.
- Is FRIENDS OF FOUNDATION ACADEMY INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2011.
- Are donations to FRIENDS OF FOUNDATION ACADEMY INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does FRIENDS OF FOUNDATION ACADEMY INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of FRIENDS OF FOUNDATION ACADEMY INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did FRIENDS OF FOUNDATION ACADEMY INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of FRIENDS OF FOUNDATION ACADEMY INC?
- The 990 for the year ended June 30, 2025 names Donald Hofmann.
- Who are the officers and directors of FRIENDS OF FOUNDATION ACADEMY INC?
- The 990 for the year ended June 30, 2025 lists 7 people; 0 received compensation from the organization.
- How much revenue does FRIENDS OF FOUNDATION ACADEMY INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $2,710,400, expenses of $2,345,668 and total assets of $81,942,860 at year end.
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