Overview
What is Georgia Magnetcharter Schools Foundations Corp?
The Georgia Magnetcharter Schools Foundations Corp is a nonprofit organization based in Hapeville, Georgia. Its primary mission is to oversee Hapeville Charter Schools, which encompasses Hapeville Charter Middle School and Hapeville Charter Career Academy. This public charter school serves students in grades 6 through 12 residing within the Fulton County School System attendance zone. During the 2021-2022 school year, over 1,000 students attended, achieving a graduation rate of 95%. The organization's total revenues amounted to $13,867,709, which included funds from the PPP loan forgiveness, federal free/reduced reimbursements, and federal Title I grants. In the same year, total expenses were recorded at $11,932,280.
Official website here: www.hapevillems.org/hapevillecharter.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% - Three-Star out of Four Star rating
Georgia Magnetcharter Schools Foundations Corp has received a Three-Star rating from Charity Navigator, with a focus entirely on its Accountability & Finance score. This score indicates a solid level of financial health and transparency, with a notable accountability framework in place, such as an independent board of directors and well-defined financial policies.
Key strengths include an independent board comprised entirely of members with no conflicts of interest, as well as a strong commitment to financial oversight with a fully audited financial statement. The organization demonstrates a healthy program expense ratio of 81.25%, indicating that a significant majority of its funds are directed towards its programs rather than administrative costs.
However, while the rating reflects commendable financial practices, there are no additional ratings or insights into the organization's impact or program effectiveness. This limitation suggests that while the financial management is robust, the overall assessment of their contributions to educational outcomes or community benefits remains unaddressed.
This AI summary has been generated from information found on Charity Navigator.
Is Georgia Magnetcharter Schools Foundations Corp legitimate?
Georgia Magnetcharter Schools Foundations Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Georgia Magnetcharter Schools Foundations Corp submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $6,414,936
For more financial information, click here
Official website here: www.hapevillems.org/hapevillecharter.org
What is the mission statement of Georgia Magnetcharter Schools Foundations Corp?
The Georgia Magnetcharter Schools Foundations Corp was established to oversee the governance of Hapeville Charter School and Career Academy, a public charter school catering to students in grades 6 through 12 within the Fulton County School System attendance zone. The organization's primary goal is to enhance student achievement for the students attending Hapeville Charter Schools, which includes Hapeville Charter Middle School and Hapeville Charter Career Academy. In the 2021-2022 academic year, over 1,000 students were enrolled, achieving a graduation rate of 95%. The reported total revenues for the year amounted to $13,867,709, which included funds from PPP loan forgiveness, federal free/reduced reimbursements, and Title I grants. The total expenses for the same period were $11,932,280.
Official website here: www.hapevillems.org/hapevillecharter.org
Who is the CEO of Georgia Magnetcharter Schools Foundations Corp?
Terry Martin is the Ceo of Georgia Magnetcharter Schools Foundations Corp. The CEO's salary of Georgia Magnetcharter Schools Foundations Corp is $0 and their total compensation is $0.
Official website here: www.hapevillems.org/hapevillecharter.org
What is the revenue of Georgia Magnetcharter Schools Foundations Corp?
Georgia Magnetcharter Schools Foundations Corp's revenue in 2022 was $13,817,107.
Official website here: www.hapevillems.org/hapevillecharter.org
Who are the executives of Georgia Magnetcharter Schools Foundations Corp and what are their salaries?
Here are 6 key members and their salaries (Georgia Magnetcharter Schools Foundations Corp's CEO's salary is $0 and their total compensation is $0):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $64,980
- Related: $0
- Other: $0
- Compensation: $118,300
- Related: $0
- Other: $0
- Compensation: $149,100
- Related: $0
- Other: $0
Official website here: www.hapevillems.org/hapevillecharter.org
Where can I find the form 990 for Georgia Magnetcharter Schools Foundations Corp?
Georgia Magnetcharter Schools Foundations Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.hapevillems.org/hapevillecharter.org
Learn more at the official website: www.hapevillems.org/hapevillecharter.org
Mission Statement of Georgia Magnetcharter Schools Foundations Corp
The Georgia Magnetcharter Schools Foundation Corp is a nonprofit organization dedicated to governing Hapeville Charter School and Career Academy, a Fulton County School System public charter school catering to students in grades 6 through 12 who reside within the Fulton County School System attendance zone. The Foundation's primary mission is to enhance the educational experience for the students attending Hapeville Charter Schools, which includes Hapeville Charter Middle School and Hapeville Charter Career Academy.
During the 2021-2022 academic year, over 1,000 students were enrolled in the schools, and the graduation rate was an impressive 95%. The Foundation's services contribute significantly to student achievement. Its total revenues for the year amounted to $13,867,709, with a portion of these funds coming from the PPP loan forgiveness, federal free/reduced reimbursements, and federal Title I grants. The Foundation's total expenses for the same period were $11,932,280.
By providing instruction to students in middle and high school grades, the Georgia Magnetcharter Schools Foundation Corp is dedicated to fostering academic growth and ensuring the success of its students. Its efforts are geared towards creating an educational environment that empowers students to reach their full potential.
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Impact
October, 2024
Georgia Magnetcharter Schools Foundations Corp significantly enhances educational opportunities for middle and high school students within the Fulton County School System. Governing Hapeville Charter School and Career Academy, this organization focuses on increasing student achievement for over 1,000 enrolled students in grades 6 through 12.
The impact is evidenced by a remarkable graduation rate of 95% during the 2021-2022 school year, highlighting the effectiveness of the school's educational programs and support systems. By providing instruction tailored to the needs of its students and fostering a conducive learning environment, Georgia Magnetcharter Schools Foundations Corp plays a crucial role in shaping the academic success and future trajectories of young learners in Hapeville.
Furthermore, financial support through various revenues, including federal funding, allows for the maintenance and enhancement of educational services, ensuring that students receive the resources necessary for comprehensive development. Overall, the organization stands as a vital force in the local education landscape, driving positive outcomes and community engagement.
This information is meant to be a general summary of Georgia Magnetcharter Schools Foundations Corp. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: -$49,463
- Gross Receipts: $13,867,707
Assets and Liabilities:
- Total Assets: $21,623,935
- Total Liabilities: $25,293,569
- Net Assets: -$3,669,634
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Organization Details
Founding Year
2003
Phone
(678) 410-2504Principal Officer
Terry Martin
Main Address
PO BOX 82548, HAPEVILLE, GA, 30354
NTEE Category
Code: B29 - Education
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