Mariner Foundation
- Assets
- $22.2m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Charlotte, NC
- Founding
- 10/2013
- Data as of
- 06/2022
- EIN
- 45-4997770
Organization Overview
Mariner Foundation is located in Charlotte, NC. The organization was established in 2013. According to its NTEE Classification (B94) the organization is classified as: Parent & Teacher Groups, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mariner Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Mariner Foundation generated $1.8m in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 26.0% each year . All expenses for the organization totaled $2.0m during the year ending 06/2022. While expenses have increased by 10.1% per year over the past 2 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO HELP MOUNTAIN ISLAND DAY COMMUNITY CHARTER SCHOOL SUCCEED BY PARTNERING PARENTS AND TEACHERS AND PROVIDING RESOURCES FOR THE SCHOOL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MARINER FOUNDATION FUNCTIONS AS THE PARENT-TEACHER ORGANIZATION FOR MOUNTAIN ISLAND DAY COMMUNITY CHARTER SCHOOL AND ALSO OWNS THE PHYSICAL FACILTIES OF THE SCHOOL AND HOLDS THE ASSOCIATED DEBT. IN FY 19/20, THE FOUNDATION BORROWED $24,735,000 THROUGH A PUBLIC FINANCE BOND OFFERING IN ORDER TO PURCHASE THE SCHOOL'S FORMERLY LEASED FACILITIES, CONSTRUCT A NEW EDUCATIONAL FACILITY, PURCHASE LAND FOR FUTURE USE, AND MAKE A VARIETY OF IMPROVEMENTS TO THE SCHOOL'S GROUNDS.THE FOUNDATION LEASES THE PROPERTY TO THE SCHOOL IN AMOUNT EQUAL TO THE ANNUAL DEBT SERVICE REQUIREMENTS.THE FOUNDATION ALSO COORDINATES EXTRA-CURRICULAR AND ANCILLARY ACTIVITIES FOR THE SCHOOL SUCH AS BUS TRANSPORTATION AND STUDENT ACTIVITIES AND COLLECTS FEES AND PAYS EXPENSES FOR ACTIVITIES SUCH AS DANCE, ART, AND ATHLETICS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephanie Hill Secretary | OfficerTrustee | 5 | $0 |
Bitika Williams President | OfficerTrustee | 5 | $0 |
Sarah Scholz Treasurer | OfficerTrustee | 5 | $0 |
Bill Tracey Director | Trustee | 2 | $0 |
Vermaine Shelton Director | Trustee | 2 | $0 |
Virginia Staley Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $470,066 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $470,066 |
| Total Program Service Revenue | $1,320,157 |
| Investment income | $3,519 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,793,742 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,392,975 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $403,262 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,024,207 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $201,745 |
| Savings and temporary cash investments | $2,528,527 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $19,461,655 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $22,191,927 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $145,924 |
| Tax-exempt bond liabilities | $24,055,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $300,000 |
| Other liabilities | $0 |
| Total liabilities | $24,500,924 |
| Net assets without donor restrictions | -$2,308,997 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $22,191,927 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Mariner Foundation has recieved totaling $1,500.
| Awarding Organization | Amount |
|---|---|
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $500 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $500 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Congress Of Parents And Teachers Alexandria, VA | $19,792,839 | $11,821,028 |
Mariner Foundation Charlotte, NC | $22,191,927 | $1,793,742 |
Black Teacher Collaborative Incorporated Atlanta, GA | $5,760,388 | $5,597,948 |
Communityworx Carrboro, NC | $4,935,522 | $1,612,558 |
Family Impact Fund Charlotte, NC | $0 | $149,457 |
Independence High School Ptso Thompsons Station, TN | $458,068 | $848,792 |
Pta Georgia Congress Atlanta, GA | $843,053 | $514,941 |
Fitness Association Of Pto Alexandria, VA | $315,549 | $363,007 |
Ardrey Kell High School Athletic Booster Club Charlotte, NC | $160,091 | $468,362 |
W T Woodson Athletic Boosters Club Fairfax, VA | $402,375 | $484,544 |
Pta North Carolina Congress Of Parents And Teachers Inc Raleigh, NC | $392,313 | $236,472 |
Springdale Park Elementary School Parents And Teachers Organization Atlanta, GA | $337,491 | $331,825 |