2024-12-04T10:42:41-06:00 2022-06-30 Forvis Mazars LLP 135 W 50TH STREET New York NY 10020 990EZ 2021-07-01 850683094 HB Foundation Inc % KEVIN KEARNS HBFO 9144760600 14 W 170th Street Bronx NY 10452 Kevin Kearns CFO 9144760600 2024-10-30 true Aaron Shapiro P01333816 2128127000 2021 2024-10-15 13:58:12Z X X X X 0 0 0 0 0 0 0 0 0 0 0 242 242 242 242 0 0 0 0 242 242 0 0 242 242 X THE PURPOSE OF HB FOUNDATION, INC. IS TO ACQUIRE, DEVELOP, OWN, LEASE, OPERATE AND MAINTAIN REAL PROPERTY ASSETS FOR THE BENEFITS OF TAX-EXEMPT CHARTER SCHOOLS LOCATED IN THE NEW YORK METROPOLITAN AREA AND TO PROVIDE SUPPLEMENTAL SUPPORT TO THOSE CHARTER SCHOOLS. THE PURPOSE OF HB FOUNDATION, INC. IS TO ACQUIRE, DEVELOP, OWN, LEASE, OPERATE AND MAINTAIN REAL PROPERTY ASSETS FOR THE BENEFITS OF TAX-EXEMPT CHARTER SCHOOLS LOCATED IN THE NEW YORK METROPOLITAN AREA AND TO PROVIDE SUPPLEMENTAL SUPPORT TO THOSE CHARTER SCHOOLS. 0 0 Joel Rivera Chairman 1.0 0 0 0 Rosa Mercado Secretary 1.0 0 0 0 Nilza Oyola Director 1.0 0 0 0 Susana R Leon Director 1.0 0 0 0 false false false false false false false false KEVIN KEARNS 14 W 170TH STREET Bronx NY 10452 9144760600 false false false false false false false false false false false true X X 1 FAMILY LIFE ACADEMY CHARTER SCHOOLS 134170389 2 true 0 0 1 true false false false false false false false false false false false false false false false false true false X true true Schedule A, Section E, Line 2 Line 2a: The purpose of HB Foundation, Inc. is to acquire, develop, construct, own, lease, operate and maintain real property assets for the benefit of tax-exempt charter schools located in the New York metropolitan area and to provide supplemental support to those charter schools. The board of directors of HB Foundation will oversee these real estate activities. HB Foundation anticipates that it will initially devote 100% of its collective time to these real estate activities; all of HB Foundation's overall expenses will be allocated to its activities. Line 2b: HB Foundation's planned activities are in furtherance of its tax-exempt purposes of providing real estate assets and support to tax-exempt charter schools operating in the New York metropolitan area. FLACS is a tax-exempt approved charter school that has been operating in the Bronx, New York, since 2001. Consistent with its mission, FLACS educates approximately 1,400 students in kindergarten through grade eight. In 2012 and 2014, FLACS expanded to include a second and third school respectively. In 2019, FLACS opened a middle school campus for all its elementary students to attend. Finally, FLACS has obtained approval to open a fourth school beginning in 2021. HB Foundation intends to provide FLACS with the real estate facilities it requires to support its growth. Form 990-EZ, Page 1, Box B The 990-EZ is being amended due to the issuance of the financial statements. The following parts of the 990-EZ were affected by the amendment: - Part I - Part II