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Mariner Foundation

Learn about this cause: Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 454997770 ✦ Charlotte, NC ✦ Designated as a 501(c)(3)

Overview

What is Mariner Foundation?

The Mariner Foundation serves as the parent-teacher organization for Mountain Island Day Community Charter School, managing its physical facilities and associated debt. In the fiscal year 2019-2020, the Foundation raised funds through a bond offering, allowing them to purchase the school's former leasehold, construct a new educational facility, buy land for future use, and enhance the school's grounds. The Foundation leases the property back to the school, covering the annual debt service requirements. Beyond academic support, Mariner Foundation arranges extra-curricular and ancillary activities for the school, such as bus transportation and student activities, and manages fees and expenses for additional programs like dance, art, and athletics, thereby contributing to the overall success of Mountain Island Day Community Charter School.


Is Mariner Foundation legitimate?

Mariner Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mariner Foundation 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.

Here are some key statistics you may want to consider:

Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0

For more financial information, click here


What is the mission statement of Mariner Foundation?
Who is the CEO of Mariner Foundation?
What is the revenue of Mariner Foundation?
Who are the executives of Mariner Foundation and what are their salaries?
Where can I find the form 990 for Mariner Foundation?

Mission Statement of Mariner Foundation

The Mariner Foundation, as a dedicated organization, is committed to supporting the success of Mountain Island Day Community Charter School. By establishing a partnership between parents and teachers, and providing necessary resources, the Foundation aims to contribute to the school's prosperity. In essence, its mission is to foster a conducive environment that enables Mountain Island Day Community Charter School to thrive.

Moreover, the Mariner Foundation plays a pivotal role in the school's operations. It holds the ownership of the school's facilities and manages the associated debt. In the fiscal year 2019-2020, the Foundation secured a significant loan of $24,735,000 through a public finance bond offering. This capital was utilized for purchasing the school's formerly leased facilities, constructing a new educational complex, acquiring land for future expansion, and making substantial improvements to the school's premises. The Foundation then leases the property to the school, ensuring a steady flow of funds to cover the annual debt service requirements.

Beyond these financial contributions, the Mariner Foundation also takes on a more hands-on role in the school's activities. It coordinates extra-curricular and ancillary activities, such as arranging for transportation and overseeing student activities. Furthermore, the Foundation manages expenses and fees for additional activities, including dance, art, and athletics. In this way, the Mariner Foundation serves as a vital partner in the growth and development of Mountain Island Day Community Charter School.

Impact

This information is meant to be a general summary of Mariner Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.




Saturday, July 20, 2024

The Mariner Foundation's impact is substantial in supporting the success of Mountain Island Day Community Charter School. Through its activities as the school's parent-teacher organization, facility owner, and debt holder, the Foundation plays a critical role in providing resources and infrastructure for the school's operations. Additionally, the Foundation coordinates various extra-curricular and ancillary activities for the students, ensuring a well-rounded educational experience. Overall, its efforts directly contribute to the enhancement of the school's educational environment and the support of its students, parents, and teachers.





Financials

This financial information is from Propublica.

Revenue
Expenses
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $3,519
  • Program Service Revenue: $1,320,157
  • Gross Receipts: $1,793,742

    • Assets and Liabilities:
  • Total Assets: $22,191,927
  • Total Liabilities: $24,500,924
  • Net Assets: -$2,308,997
  • Programs

    Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

    Facility Lease to MIDCCS

    Revenue

    $1,076,303

    School Fundraisers

    Revenue

    $243,854

    Organization Details

    Founding Year

    2012

    Principal Officer

    Bitika Williams

    Main Address

    1209 Little Rock Road, Charlotte, NC, 28214

    NTEE Category

    Code: B94 - Education

    If you are a representative of Mariner Foundation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.