Nonprofit · EIN 20-4406909
FOUNDATION ACADEMY CHARTER SCHOOL
Tax-exempt · TRENTON, NJ 08618
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $31,979,048 | $32,425,259 | -$446,211 | $24,273,169 | $11,940,433 | $12,332,736 |
| June 30, 2024 | 990 | $29,462,595 | $27,059,830 | $2,402,765 | $23,999,152 | $11,220,205 | $12,778,947 |
| June 30, 2023 | 990 | $23,642,745 | $22,025,800 | $1,616,945 | $21,356,618 | $10,980,436 | $10,376,182 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $30,170,697
- of which government grants
- $29,218,102
- Program service revenue
- $2,015,348
- Investment income
- $227,287
- Net income from sales of inventory
- -$434,284
- Other revenue
- -$434,284
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $1,986,787
- Other salaries and wages
- $13,288,249
- Salaries, compensation and benefits (total)
- $20,573,755
- Professional fundraising fees
- $0
- Legal fees
- $115,659
- Accounting fees
- $46,013
- Occupancy
- $2,758,454
- Depreciation
- $991,576
- Program services (functional)
- $27,203,593
- Management and general (functional)
- $5,221,666
Balance sheet and other
- Total assets, start of year
- $23,999,152
- Total assets, end of year
- $24,273,169
- Total liabilities, end of year
- $11,940,433
- Net assets, end of year
- $12,332,736
- Land, buildings and equipment
- $7,991,483
- Net assets without donor restrictions
- $12,332,736
- Gross receipts
- $31,979,048
- Employees
- 267
- 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 |
|---|---|---|---|
| SHERIA MCRAE | CEO | 40 | $202,854 |
| ANDRE MOORE | CFO | 40 | $184,183 |
| NATASIA COOPER | CHIEF OF ACADEMICS | 40 | $153,283 |
| SHANESIA DAVIS | CHIEF OF TALENT | 40 | $140,863 |
| DIANA UBALDO | BA | 40 | $137,275 |
| SHARIDA EDWARDS | Trustee Trustee or director | 2 | $0 |
| DUNCAN HARRIS | Vice President Trustee or director | 2 | $0 |
| HOWARD POWERS | Trustee Trustee or director | 2 | $0 |
| STACY DENTON | BOARD SEC Trustee or director | 2 | $0 |
| CARL SIEDEN | Trustee Trustee or director | 2 | $0 |
| SHERIA MCRAE | CEO Trustee or director | 2 | $0 |
| DR SONYA NOCK | MIDDLE SCH PR Trustee or director, Officer | 40 | $0 |
| RICHARD SEIGIER-CARTER | President Trustee or director | 2 | $0 |
| NATASIA COOPER | CAO Trustee or director | 2 | $0 |
| BRITTANY GRECO | PRIM SCHOOL PRI Trustee or director | 2 | $0 |
6 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JON BODNAR | CFO Trustee or director, Officer | 2 | $0 |
| ANDRE MOORE | CFO Trustee or director, Officer | 40 | $0 |
| DIANA UBALDO | BUS. ADMIN. Trustee or director, Officer | 40 | $0 |
| DEANNA CHESTNUT | HIGH SCHOOL PRI Trustee or director | 2 | $0 |
| CHRISTOPHER MULLINS | Treasurer Trustee or director | 2 | $0 |
| STEFANI SCHWARTZ | BOARD COUNSEL Trustee or director | 2 | $0 |
990 for the year ended June 30, 2024: 15 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JACQUI GRIFFITH | Vice President Trustee or director | 40 | $0 |
| DUNCAN HARRIS | Trustee Trustee or director | 2 | $0 |
| KIMME CARLOS | Trustee Trustee or director | 2 | $0 |
| STACY DENTON | Trustee Trustee or director | 2 | $0 |
| STEFANI SCHWARTZ | BOARD COUNSEL Trustee or director | 2 | $0 |
| TODD KENT | Trustee Trustee or director | 2 | $0 |
| RICHARD SEIGIER-CARTER | President Trustee or director | 2 | $0 |
| ANGELA JOYNER | MIDDLE SCH PR Officer | 40 | $0 |
| CARL SEIDEN | Trustee Officer | 2 | $0 |
| ANDRE MOORE | CFO Officer | 40 | $0 |
| DIANA UBALDO | BUS. ADMIN. Officer | 40 | $0 |
| CHRISTOPER MULLINS | Treasurer Officer | 2 | $0 |
| SHERIA MC RAE | CHIEF ACAD OFF Officer | 40 | $0 |
| NATASIA COOPER | CHIEF ACAD OFCR Officer | 40 | $0 |
| ISABEL GOSS | HIGH SCH PRINC Officer | 40 | $0 |
990 for the year ended June 30, 2023: 15 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JACQUI GRIFFITH | President Trustee or director | 2 | $0 |
| GRECIA MONTERO | Trustee Trustee or director | 2 | $0 |
| KIMME CARLOS | Trustee Trustee or director | 2 | $0 |
| STACY DENTON | Trustee Trustee or director | 2 | $0 |
| STEFANI SCHWARTZ | BOARD COUNCEL Trustee or director | 2 | $0 |
| TODD KENT | Trustee Trustee or director | 2 | $0 |
| ANGELA JOYNER | MIDDLE SCH PR Officer | 40 | $0 |
| VENITIA BIRCHMORE | Treasurer Officer | 40 | $0 |
| GRAIG WEISS | CEO Officer | 40 | $0 |
| TARA PEPE | DIRECTOR FINANC Officer | 40 | $0 |
| CHRISTOPHER LESSARD | BUS. ADMIN. Officer | 20 | $0 |
| MONIQUE BONNIER | Treasurer Officer | 2 | $0 |
| SHERIA MC RAE | CHIEF ACAD OFF Officer | 40 | $0 |
| NATASIA COOPER | PRIM SCH PRINC Officer | 40 | $0 |
| MELISSA CAMPBELL | HIGH SCH PRINC Officer | 40 | $0 |
Address and contacts
- Address (IRS master file)
- 363 W STATE ST, TRENTON, NJ 08618-5705
- In care of
- % EA
- Principal officer (990 for 2024)
- RICHARD SEIGIER-CARTER, 363 WEST STATE STREET, TRENTON, NJ 08618
- Signed the 990
- DIANA UBALDO, BUS. ADMIN.
- Phone
- (609) 920-9200
- Website
- www.foundationacademies.org
- Return prepared by
- BARRE & COMPANY LLC
Mission
As a college-preparatory school, Foundation Academy Charter Schools mission is to ensure that all of their students secure the academic knowledge and skills to prepare them for the nations finest colleges, and to instill in them the core values of caring, respect, responsibility and honesty. Foundation Academy Charter Schools program is modeled after some of the highest performing urban charter schools in the country, and includes standardized classroom procedures, regular testing to track student progress, more time on task, a focus on values and building community, clear and innovative rewards and consequences designed to teach and emphasize positive academic and social behavior, school uniforms, 90-120 minutes of homework each night, and an overall rigorous academic program. Foundation Academy Charter School provides a longer school day and a longer school year which includes a two week summer session. Language arts and math classes are taught for more minutes each week than most sc
Program accomplishments
- During the sixteenth year of operation, the 2024-2025 school year, Foundation Academy Charter School provided a full range of educational services appropriate for all students in grades Kindergarten through 12th Grade. The Educational program includes social, health and nutrition services that support the total education of the student. In addition, the educational services include regular, as well as special education instruction. Foundation Academy Charter School promotes the full involvement of parents in their childrens educational development. The Charter School completed the 2024-2025 school year with the following enrollment: 253 primary school students in Kindergarten, Grade 1 and Grade 2; 255 intermediate school students were enrolled in Grades 3 through 5; 252 middle school students in Grades 6 through 8; and 328 high school students were enrolled in grades 9 thru 12. The Average Daily Enrollment (ADE) for the entire charter school for the 2023-2024 school year was 1110 students.Expenses $27,203,593
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
- 20-4406909
- 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
- 2007
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B20)
- Assets (IRS master file)
- $24,273,169
- Income (IRS master file)
- $31,979,048
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $31,979,048 | $32,425,259 | $24,273,169 | IRS |
| 990 | June 2024 | $29,462,595 | $27,059,830 | $23,999,152 | IRS |
| 990 | June 2023 | $23,642,745 | $22,025,800 | $21,356,618 | XML |
| 990 | June 2022 | $21,687,703 | $20,837,506 | $21,589,488 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | 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 20-4406909).
Questions about FOUNDATION ACADEMY CHARTER SCHOOL
- What is the EIN of FOUNDATION ACADEMY CHARTER SCHOOL?
- The employer identification number (EIN) of FOUNDATION ACADEMY CHARTER SCHOOL is 20-4406909.
- Is FOUNDATION ACADEMY CHARTER SCHOOL tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2007.
- Are donations to FOUNDATION ACADEMY CHARTER SCHOOL tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does FOUNDATION ACADEMY CHARTER SCHOOL 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 FOUNDATION ACADEMY CHARTER SCHOOL 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 FOUNDATION ACADEMY CHARTER SCHOOL 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 FOUNDATION ACADEMY CHARTER SCHOOL?
- The 990 for the year ended June 30, 2025 names RICHARD SEIGIER-CARTER.
- Who are the officers and directors of FOUNDATION ACADEMY CHARTER SCHOOL?
- The 990 for the year ended June 30, 2025 lists 21 people; 5 received compensation from the organization, the highest $202,854 (SHERIA MCRAE, CEO).
- How much revenue does FOUNDATION ACADEMY CHARTER SCHOOL have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $31,979,048, expenses of $32,425,259 and total assets of $24,273,169 at year end.
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