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Georgia Magnet Charter Schools Foundation Corp

Organization summary

Type of Nonprofit

Designated as a Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Educational Institutions and Related Activities / Elementary, Secondary Education, K - 12 (B29) (NTEE)

Donations to this organization are tax deductible.

Details

According to its June 2023 tax filing, this nonprofit:

Operated a school
Organization is a school. Details are reported on Schedule E.

Summary charts: organization finances over time

Revenue
$8.83M (2023)

Expenses
$9.94M (2023)

Total Assets
$23.3M (2023)

Total Liabilities
$28.1M (2023)

Source: Form 990 tax filings from 2012 to 2023

Tax Filings and Audits by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Audits are required to be submitted by nonprofit organizations that spend $750,000 or more in federal grant money in a fiscal year. "Single audits" look at the entire organization's finances and compliance, while other audits are program specific. Nonprofit Explorer has PDFs of audits for some nonprofits for fiscal year 2015 and later. Audit data is from the Federal Audit Clearinghouse.

Fiscal Year Ending June
2023

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$8,828,981
Expenses
$9,942,342
Net Income
-$1,113,361
Net Assets
-$4,782,995
Notable Sources of Revenue Percent of Total Revenue
Contributions $8,823,075
99.9%
Program Services $406
0.0%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $5,500
0.1%
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $262,411
2.6%
Professional Fundraising Fees $0
Other Salaries and Wages $3,835,986
38.6%
Assets/Debt
Total Assets $23,337,398
Total Liabilities $28,120,393
Net Assets -$4,782,995
Other
Operated a school
Compensation
Key Employees and Officers Compensation Related Other
Mike Ramos (Executive Director) $145,658 $0 $0
Richard Fowler (Principal (Hcca)) $108,608 $0 $0
Audrey Greer (Principal (Hcms)) $8,145 $0 $0
Corliss Davenport (Ceo) $0 $0 $0
Terry Martin (Cfo) $0 $0 $0
H Lew Valero (Secretary) $0 $0 $0

Document Links

Fiscal Year Ending June
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$13,817,107
Expenses
$11,932,278
Net Income
$1,884,829
Net Assets
-$3,669,634
Notable Sources of Revenue Percent of Total Revenue
Contributions $13,787,442
99.8%
Program Services $0
Investment Income $1,137
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets -$50,600
Net Inventory Sales $0
Other Revenue $79,128
0.6%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $6,414,936
53.8%
Assets/Debt
Total Assets $21,623,935
Total Liabilities $25,293,569
Net Assets -$3,669,634
Other
Operated a school
Compensation
Key Employees and Officers Compensation Related Other
Mike Ramos (Executive Director) $149,100 $0 $0
Richard Fowler (Principal (Hcca)) $118,300 $0 $0
Audrey Greer (Principal (Hcms)) $64,980 $0 $0
Corliss Davenport (Ceo) $0 $0 $0
Terry Martin (Cfo) $0 $0 $0
H Lew Valero (Secretary) $0 $0 $0

Document Links

Fiscal Year Ending June
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$11,855,493
Expenses
$12,110,414
Net Income
-$254,921
Net Assets
$1,160,330
Notable Sources of Revenue Percent of Total Revenue
Contributions $11,855,289
100.0%
Program Services $0
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $204
0.0%
Notable Expenses Percent of Total Expenses
Executive Compensation $360,500
3.0%
Professional Fundraising Fees $0
Other Salaries and Wages $5,670,903
46.8%
Assets/Debt
Total Assets $20,310,204
Total Liabilities $19,149,874
Net Assets $1,160,330
Other
Operated a school
Compensation
Key Employees and Officers Compensation Related Other
Mike Ramos (Executive Director) $142,000 $0 $0
Richard Fowler (Principal (Hcca)) $110,000 $0 $0
Audrey Greer (Principal (Hcms)) $108,500 $0 $0
Diane Terry (Ceo) $0 $0 $0
Terry Martin (Cfo) $0 $0 $0
H Lew Valero (Secretary) $0 $0 $0

Document Links

Fiscal Year Ending June
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$11,718,998
Expenses
$12,204,439
Net Income
-$485,441
Net Assets
$1,681,786
Notable Sources of Revenue Percent of Total Revenue
Contributions $11,662,192
99.5%
Program Services $0
Investment Income $39,560
0.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $1,901
0.0%
Net Inventory Sales $0
Other Revenue $15,345
0.1%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $5,399,307
44.2%
Assets/Debt
Total Assets $20,337,051
Total Liabilities $18,655,265
Net Assets $1,681,786
Other
Operated a school
Compensation
Key Employees and Officers Compensation Related Other
Audrey Greer (Principal (Hcms)) $100,000 $0 $0
Candace Bethea (Principal (Hcca)) $100,000 $0 $0
Gary Martin (Interim Executive Director) $71,083 $0 $0
Diane Terry (Ceo) $0 $0 $0
Terry Martin (Cfo) $0 $0 $0
H Lew Valero (Secretary) $0 $0 $0

Document Links

Fiscal Year Ending June
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$11,258,032
Expenses
$11,151,877
Net Income
$106,155
Net Assets
$2,204,102
Notable Sources of Revenue Percent of Total Revenue
Contributions $11,258,032
100%
Program Services $0
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $5,139,628
46.1%
Assets/Debt
Total Assets $18,356,882
Total Liabilities $16,152,780
Net Assets $2,204,102
Other
Operated a school
Compensation
Key Employees and Officers Compensation Related Other
Matthew Lindsey (Executive Director) $110,000 $0 $0
Audrey Greer (Principal (Hcms)) $100,000 $0 $0
Candace Bethea (Principal (Hcca)) $100,000 $0 $0
Diane Terry (Ceo) $0 $0 $0
Terry Martin (Cfo) $0 $0 $0
H Lew Valero (Secretary) $0 $0 $0

Document Links

Fiscal Year Ending June
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$10,668,329
Expenses
$11,265,947
Net Income
-$597,618
Net Assets
$2,097,947
Notable Sources of Revenue Percent of Total Revenue
Contributions $10,668,329
100%
Program Services $0
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $4,956,409
44.0%
Assets/Debt
Total Assets $18,728,436
Total Liabilities $16,630,489
Net Assets $2,097,947
Other
Operated a school
Compensation
Key Employees and Officers Compensation Related Other
Gary Martin (President) $165,549 $0 $0
Matthew Lindsey (Executive Director) $110,000 $0 $0
Marcia Lowe (Middle School Principal) $100,940 $0 $0
Diane Terry (Ceo) $0 $0 $0
Terry Martin (Cfo) $0 $0 $0
H Lew Valero (Secretary) $0 $0 $0

Document Links

Fiscal Year Ending June
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$9,909,794
Expenses
$11,022,764
Net Income
-$1,112,970
Net Assets
$2,695,565
Notable Sources of Revenue Percent of Total Revenue
Contributions $9,895,165
99.9%
Program Services $14,629
0.1%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $502,287
4.6%
Professional Fundraising Fees $0
Other Salaries and Wages $4,520,592
41.0%
Assets/Debt
Total Assets $20,393,413
Total Liabilities $17,697,848
Net Assets $2,695,565
Other
Operated a school
Compensation
Key Employees and Officers Compensation Related Other
Gary Martin (President) $165,549 $0 $0
Jannard Rainey (Principal) $125,798 $0 $0
Matthew Lindsey (Executive Director) $110,000 $0 $0
Marcia Lowe (Middle School Principal) $100,940 $0 $0
Diane Terry (Ceo) $0 $0 $0
Terry Martin (Cfo) $0 $0 $0
H Lew Valero (Secretary) $0 $0 $0

Document Links

Fiscal Year Ending June
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$9,938,866
Expenses
$9,634,903
Net Income
$303,963
Net Assets
$3,808,535
Notable Sources of Revenue Percent of Total Revenue
Contributions $9,186,371
92.4%
Program Services $748,817
7.5%
Investment Income $3,678
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $4,666,797
48.4%
Assets/Debt
Total Assets $21,008,967
Total Liabilities $17,200,432
Net Assets $3,808,535
Other
Operated a school
Compensation
Key Employees and Officers Compensation Related Other
Gary Martin (President) $165,549 $0 $0
Jannard Rainey (Principal) $111,395 $0 $0
Marcia Lowe (Middle School Principal) $100,940 $0 $0
Diane Terry (Ceo) $0 $0 $0
Terry Martin (Cfo) $0 $0 $0
H Lew Valero (Secretary) $0 $0 $0

Document Links

Fiscal Year Ending June
2015

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$9,393,896
Expenses
$9,194,710
Net Income
$199,186
Net Assets
$3,504,572
Notable Sources of Revenue Percent of Total Revenue
Contributions $8,646,811
92.0%
Program Services $746,845
8.0%
Investment Income $240
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $4,387,824
47.7%
Assets/Debt
Total Assets $19,382,036
Total Liabilities $15,877,464
Net Assets $3,504,572
Other
Operated a school
Compensation
Key Employees and Officers Compensation Related Other
Gary Martin (President) $159,715 $0 $0
Jannard Rainey (Principal) $100,267 $0 $0
Diane Terry (Ceo) $0 $0 $0
Terry Martin (Cfo) $0 $0 $0
H Lew Valero (Secretary) $0 $0 $0

Document Links

Fiscal Year Ending June
2014

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$9,585,051
Expenses
$9,064,329
Net Income
$520,722
Net Assets
$8,719,836
Notable Sources of Revenue Percent of Total Revenue
Contributions $8,748,118
91.3%
Program Services $844,512
8.8%
Investment Income $612
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets -$8,191
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $159,715
1.8%
Professional Fundraising Fees $0
Other Salaries and Wages $3,990,408
44.0%
Assets/Debt
Total Assets $19,154,579
Total Liabilities $10,434,743
Net Assets $8,719,836
Other
Operated a school
Compensation
Key Employees and Officers Compensation Related Other
Gary Martin (President) $159,715 $0 $0
Jannard Rainey (Principal) $100,267 $0 $0
Diane Terry (Ceo) $0 $0 $0
Terry Martin (Cfo) $0 $0 $0
H Lew Valero (Secretary) $0 $0 $0

Document Links

Fiscal Year Ending June
2013

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$9,278,201
Expenses
$8,628,763
Net Income
$649,438
Net Assets
$8,342,450
Notable Sources of Revenue Percent of Total Revenue
Contributions $8,230,908
88.7%
Program Services $807,353
8.7%
Investment Income $1,881
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $1,613
0.0%
Net Inventory Sales $0
Other Revenue $236,446
2.5%
Notable Expenses Percent of Total Expenses
Executive Compensation $240,000
2.8%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $20,177,865
Total Liabilities $11,835,415
Net Assets $8,342,450

Document Links

Fiscal Year Ending June
2012

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$8,166,863
Expenses
$8,443,044
Net Income
-$276,181
Net Assets
$7,693,012
Notable Sources of Revenue Percent of Total Revenue
Contributions $7,379,951
90.4%
Program Services $690,411
8.5%
Investment Income $4,771
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $91,730
1.1%
Notable Expenses Percent of Total Expenses
Executive Compensation $240,000
2.8%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $19,998,600
Total Liabilities $12,305,588
Net Assets $7,693,012

Document Links

Fiscal Year Ending June
2011

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2010

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2009

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2008

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2007

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2006

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2005

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2004

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2004

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2003

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

About This Data

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

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Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

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  • Audits. PDFs of single or program-specific audits for nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year. Available for fiscal year 2015 and later.

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