Foundation Academy Charter School
Foundation Academy Charter School shows consistent revenue growth and strong asset accumulation over the past decade.
EIN: 204406909 · Trenton, NJ · NTEE: B20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $29.5M |
| Total Expenses | $22.0M |
| Program Spending | 85% |
| Net Assets | $10.4M |
| Transparency Score | 90/100 |
Is Foundation Academy Charter School Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Foundation Academy Charter School directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Foundation Academy Charter School
Foundation Academy Charter School (EIN: 204406909) is a nonprofit organization based in Trenton, NJ, classified under NTEE code B20. The organization reported total revenue of $29.5M and total assets of $24.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Foundation Academy Charter School's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Foundation Academy Charter School is a large nonprofit that has been operating for 19 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 18.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $23.6M |
| Total Expenses | $22.0M |
| Surplus / Deficit | +$1.6M |
| Total Assets | $21.4M |
| Total Liabilities | $11.0M |
| Net Assets | $10.4M |
| Operating Margin | 6.8% |
| Debt-to-Asset Ratio | 51.4% |
| Months of Reserves | 11.6 months |
Financial Health Grade: A
In 2023, Foundation Academy Charter School reported a surplus of $1.6M with revenue exceeding expenses, holds 11.6 months of operating reserves (strong position), has a debt-to-asset ratio of 51.4% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Foundation Academy Charter School's revenue has grown at a compound annual growth rate (CAGR) of 18.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +9.0% | +5.7% | -1.1% |
| 2022 | +1.6% | +4.8% | +33.9% |
| 2021 | +10.3% | +11.9% | +10.1% |
| 2020 | +5.5% | +0.6% | -4.0% |
| 2019 | +4.6% | +10.6% | +10.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Foundation Academy Charter School with a Mission Score of 90 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Foundation Academy Charter School allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $1.6M, with revenue exceeding expenses.
- Debt-to-asset ratio: 51.4%.
Executive Compensation Analysis
The IRS 990 filings consistently report 0% officer compensation, which suggests either that no officers receive compensation, or that compensation is reported under other categories, warranting further scrutiny for complete transparency.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Foundation Academy Charter School's IRS 990 filings:
- Consistent 0% officer compensation reported may indicate compensation is categorized elsewhere, requiring deeper investigation for full executive compensation transparency.
Strengths
The following positive indicators were identified for Foundation Academy Charter School:
- Consistent revenue growth over a decade, from $8.8M in 2014 to $23.6M in 2023.
- Strong asset accumulation, growing from $1.7M in 2014 to $21.3M in 2023.
- Expenses closely track revenue, suggesting efficient resource utilization for its mission.
- Assets consistently exceed liabilities, indicating a healthy financial position.
- Regular and extensive IRS 990 filing history (13 filings) demonstrates commitment to transparency and compliance.
Frequently Asked Questions about Foundation Academy Charter School
Is Foundation Academy Charter School a legitimate charity?
Foundation Academy Charter School (EIN: 204406909) is a registered tax-exempt nonprofit based in New Jersey. Our AI analysis gives it a Mission Score of 90/100. It has 13 years of IRS 990 filings on record. Total revenue: $29.5M. 1 red flag identified. 5 strengths noted. Financial health grade: A.
How does Foundation Academy Charter School spend its money?
Foundation Academy Charter School directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Foundation Academy Charter School tax-deductible?
Foundation Academy Charter School is registered as a tax-exempt nonprofit (EIN: 204406909). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Foundation Academy Charter School's spending goes to programs?
Foundation Academy Charter School directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Foundation Academy Charter School compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Foundation Academy Charter School is above average for NTEE category B20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Foundation Academy Charter School located?
Foundation Academy Charter School is headquartered in Trenton, New Jersey and files with the IRS under EIN 204406909. It is classified under NTEE code B20.
How many years of IRS 990 filings does Foundation Academy Charter School have?
Foundation Academy Charter School has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $29.5M in total revenue.
Is Foundation Academy Charter School financially stable?
Yes, the organization appears financially stable. Its assets have consistently exceeded liabilities, for example, $21,356,618 in assets versus $10,980,436 in liabilities in 2023, and revenue has shown consistent growth over the past decade.
How much of Foundation Academy's budget goes to programs?
While specific program spending percentages are not detailed in the provided summary, the close alignment of expenses to revenue (e.g., $23,642,745 revenue vs. $22,025,800 expenses in 2023) suggests a high proportion of spending is directed towards its educational programs, which is typical for a charter school.
What is the trend in Foundation Academy's revenue?
Foundation Academy Charter School has experienced strong and consistent revenue growth, increasing from $8,859,787 in 2014 to $23,642,745 in 2023, indicating expanding operations and support.
Filing History
IRS 990 filing history for Foundation Academy Charter School showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Foundation Academy Charter School's revenue has grown by 627.6%, moving from $3.2M to $23.6M. Total assets increased by 1566.7% over the same period, from $1.3M to $21.4M. Total functional expenses rose by 619.5%, from $3.1M to $22.0M. In its most recent filing year (2023), Foundation Academy Charter School reported a surplus of $1.6M, with revenue exceeding expenses. The organization holds $11.0M in liabilities against $21.4M in assets (debt-to-asset ratio: 51.4%), resulting in net assets of $10.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $23.6M | $22.0M | $21.4M | $11.0M | — | View 990 |
| 2022 | $21.7M | $20.8M | $21.6M | $12.8M | — | View 990 |
| 2021 | $21.3M | $19.9M | $16.1M | $7.6M | — | — |
| 2020 | $19.4M | $17.8M | $14.6M | $7.6M | — | View 990 |
| 2019 | $18.3M | $17.7M | $15.3M | $9.8M | — | View 990 |
| 2018 | $17.5M | $16.0M | $13.9M | $9.1M | — | View 990 |
| 2017 | $16.6M | $15.1M | $11.4M | $8.2M | — | View 990 |
| 2016 | $14.6M | $15.5M | $5.7M | $5.2M | — | View 990 |
| 2015 | $12.6M | $11.3M | $3.7M | $2.3M | — | View 990 |
| 2014 | $8.9M | $8.5M | $1.7M | $467K | — | View 990 |
| 2013 | $5.9M | $6.4M | $1.5M | $564K | — | View 990 |
| 2012 | $5.1M | $4.7M | $1.7M | $339K | — | View 990 |
| 2011 | $3.2M | $3.1M | $1.3M | $275K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $23.6M, expenses of $22.0M, and assets of $21.4M (revenue +9.0% year-over-year).
- 2022: Revenue of $21.7M, expenses of $20.8M, and assets of $21.6M (revenue +1.6% year-over-year).
- 2021: Revenue of $21.3M, expenses of $19.9M, and assets of $16.1M (revenue +10.3% year-over-year).
- 2020: Revenue of $19.4M, expenses of $17.8M, and assets of $14.6M (revenue +5.5% year-over-year).
- 2019: Revenue of $18.3M, expenses of $17.7M, and assets of $15.3M (revenue +4.6% year-over-year).
- 2018: Revenue of $17.5M, expenses of $16.0M, and assets of $13.9M (revenue +5.6% year-over-year).
- 2017: Revenue of $16.6M, expenses of $15.1M, and assets of $11.4M (revenue +13.6% year-over-year).
- 2016: Revenue of $14.6M, expenses of $15.5M, and assets of $5.7M (revenue +16.0% year-over-year).
- 2015: Revenue of $12.6M, expenses of $11.3M, and assets of $3.7M (revenue +42.2% year-over-year).
- 2014: Revenue of $8.9M, expenses of $8.5M, and assets of $1.7M (revenue +50.0% year-over-year).
- 2013: Revenue of $5.9M, expenses of $6.4M, and assets of $1.5M (revenue +16.6% year-over-year).
- 2012: Revenue of $5.1M, expenses of $4.7M, and assets of $1.7M (revenue +55.9% year-over-year).
- 2011: Revenue of $3.2M, expenses of $3.1M, and assets of $1.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Foundation Academy Charter School:
Data Sources and Methodology
This transparency report for Foundation Academy Charter School is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.