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Nonprofit · EIN 72-1552418

GEORGIA MAGNET-CHARTER SCHOOLS FOUNDATION CORP

Tax-exempt · HAPEVILLE, GA 30354

Financials

$8.8M$9.9M2022$9.1M$9.2M2023$9M$9M2024
Revenue Expenses · by fiscal year end
Financials of GEORGIA MAGNET-CHARTER SCHOOLS FOUNDATION CORP by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
June 30, 2025990$9,049,079$8,980,508$68,571$17,769,542$22,600,500-$4,830,958
June 30, 2024990$9,073,075$9,189,609-$116,534$19,239,603$24,139,132-$4,899,529
June 30, 2023990$8,828,981$9,942,342-$1,113,361$23,337,398$28,120,393-$4,782,995
Financial details: 990 for the year ended June 30, 2025

Revenue

Contributions, gifts and grants
$9,048,701
of which government grants
$8,839,379
Program service revenue
$378
Investment income
$0
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Other salaries and wages
$3,902,517
Salaries, compensation and benefits (total)
$5,012,960
Professional fundraising fees
$0
Accounting fees
$63,485
Occupancy
$702,766
Depreciation
$981,026
Program services (functional)
$7,721,688
Management and general (functional)
$1,258,820

Balance sheet and other

Total assets, start of year
$19,239,603
Total assets, end of year
$17,769,542
Total liabilities, end of year
$22,600,500
Net assets, end of year
-$4,830,958
Land, buildings and equipment
$10,722,438
Gross receipts
$9,049,079
Employees
64
Volunteers
0
Year formed
2003
State of legal domicile
GA

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.

NameTitleHours / weekCompensation
MIKE RAMOSEXECUTIVE DIRECTOR
Officer
40$154,850
CORLISS DAVENPORTCEO
Trustee or director, Officer
1$0
TERRY MARTINTREASURER
Trustee or director, Officer
1$0
SHAWNTRELL JOHNSONSECRETARY
Trustee or director, Officer
1$0
RICHARD FOWLERPRINCIPAL (HCCA)
Officer
40$0
990 for the year ended June 30, 2024: 6 people
NameTitleHours / weekCompensation
MIKE RAMOSEXECUTIVE DIRECTOR
Officer
40$145,658
RICHARD FOWLERPRINCIPAL (HCCA)
Officer
40$108,608
AUDREY GREERPRINCIPAL (HCMS)
Officer
40$8,145
CORLISS DAVENPORTCEO
Trustee or director, Officer
1$0
TERRY MARTINCFO
Trustee or director, Officer
1$0
H LEW VALEROSECRETARY
Trustee or director, Officer
1$0
990 for the year ended June 30, 2023: 6 people
NameTitleHours / weekCompensation
MIKE RAMOSEXECUTIVE DIRECTOR
Officer
40$145,658
RICHARD FOWLERPRINCIPAL (HCCA)
Officer
40$108,608
AUDREY GREERPRINCIPAL (HCMS)
Officer
40$8,145
CORLISS DAVENPORTCEO
Trustee or director, Officer
1$0
TERRY MARTINCFO
Trustee or director, Officer
1$0
H LEW VALEROSECRETARY
Trustee or director, Officer
1$0

Address and contacts

Address (IRS master file)
PO BOX 82548, HAPEVILLE, GA 30354-0548
Principal officer (990 for 2024)
TERRY MARTIN, HAPEVILLE CHARTER SCHOOLS, HAPEVILLE, GA 30354
Signed the 990
TERRY MARTIN, CFO
Phone
(678) 410-2504
Return prepared by
MARSHALL JONES

Mission

THE GEORGIA MAGNET/CHARTER SCHOOLS FOUNDATION, CORP. WAS FORMED TO GOVERN HAPEVILLE CHARTER SCHOOL AND CAREER ACADEMY, A FULTON COUNTY SCHOOL SYSTEM PUBLIC CHARTER SCHOOL PROVIDING INSTRUCTION TO GRADES 9 THROUGH 12 WHO RESIDE WITHIN THE FULTON COUNTY SCHOOL SYSTEM ATTENDANCE ZONE.

990 for the year ended June 30, 2025

Program accomplishments

  • THE ORGANIZATION'S PROGRAM SERVICE IS TO INCREASE STUDENT ACHIEVEMENT OF THE STUDENTS ATTENDING HAPEVILLE CHARTER SCHOOLS. DURING THE SCHOOL YEAR, 591 STUDENTS WERE ENROLLED IN GRADES 9 THROUGH 12. THE GRADUATION RATE WAS REPORTED AT 95%. A PORTION OF THE TOTAL REVENUES OF $9,049,079 INCLUDED THE FEDERAL FREE/REDUCED REIMBURSEMENTS AND FEDERAL TITLE I GRANTS. DURING THE SCHOOL YEAR, THE TOTAL EXPENSES WERE $8,980,508.
    Expenses $7,721,688 · revenue $378

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 yearYear endedDueIRS public records
2025June 30, 2026November 16, 2026Not due yet
2024June 30, 2025November 17, 2025990 on file
2023June 30, 2024November 15, 2024990 on file

IRS record

EIN
72-1552418
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
School
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
2004
Accounting year ends
June
Files
Form 990 or 990-EZ
Category (NTEE)
Education (B29)
Assets (IRS master file)
$17,769,542
Income (IRS master file)
$9,049,079

Filing history

FormYear endedRevenueExpensesAssetsReturn
990June 2025$9,049,079$8,980,508$17,769,542XML
990June 2024$9,073,075$9,189,609$19,239,603XML
990June 2023$8,828,981$9,942,342$23,337,398XML
990June 2022$13,817,107$11,932,278$21,623,935IRS
990June 2021–––IRS
990June 2020–––IRS
990June 2019–––IRS

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 72-1552418).

Questions about GEORGIA MAGNET-CHARTER SCHOOLS FOUNDATION CORP

What is the EIN of GEORGIA MAGNET-CHARTER SCHOOLS FOUNDATION CORP?
The employer identification number (EIN) of GEORGIA MAGNET-CHARTER SCHOOLS FOUNDATION CORP is 72-1552418.
Is GEORGIA MAGNET-CHARTER SCHOOLS FOUNDATION CORP tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2004.
Are donations to GEORGIA MAGNET-CHARTER SCHOOLS FOUNDATION CORP tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does GEORGIA MAGNET-CHARTER SCHOOLS FOUNDATION CORP 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 GEORGIA MAGNET-CHARTER SCHOOLS FOUNDATION CORP 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 GEORGIA MAGNET-CHARTER SCHOOLS FOUNDATION CORP 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 GEORGIA MAGNET-CHARTER SCHOOLS FOUNDATION CORP?
The 990 for the year ended June 30, 2025 names TERRY MARTIN.
Who are the officers and directors of GEORGIA MAGNET-CHARTER SCHOOLS FOUNDATION CORP?
The 990 for the year ended June 30, 2025 lists 5 people; 1 received compensation from the organization, the highest $154,850 (MIKE RAMOS, EXECUTIVE DIRECTOR).
How much revenue does GEORGIA MAGNET-CHARTER SCHOOLS FOUNDATION CORP have?
On its 990 for the year ended June 30, 2025 it reported revenue of $9,049,079, expenses of $8,980,508 and total assets of $17,769,542 at year end.

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