Civic Intelligence

Richard Milburn Academy of Florida Inc.

990 • Fiscal year 2017 • EIN 04-3513332

Jul 01, 2016 to Jun 30, 2017 • Filed on Jan 13, 2018

Organization ProfileWWW.RMAFLORIDA.ORG
1031 Mason AvenueDaytona Beach, FL 32117

(386) 304-0086

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

68th percentile

0.26x

Higher debt load relative to assets than 68% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

40th percentile

0.06x

Higher debt load relative to revenue than 40% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

23rd percentile

-7.5%

Higher net margin than 23% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

4th percentile

-30%

Faster asset growth than 4% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

10th percentile

-25%

Faster revenue growth than 10% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets68th percentile

Assets

Down

$419,810

Down $178,535 (-30%) from 2016

Net Assets

Down

$310,935

Down $147,759 (-32%) from 2016

Liabilities

Down

$108,875

Down $30,776 (-22%) from 2016

Revenue And Expenses
Liabilities / Revenue40th percentileNet Margin23rd percentile

Revenue

Down

$1,885,106

Down $639,790 (-25%) from 2016

Expenses

Down

$2,026,210

Down $311,374 (-13%) from 2016

Net Income

Down

-$141,104

Down $328,416 (-175%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth4th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0-$2.0MAssets 2012: $1,321,482Liabilities 2012: $1,766,609Net Assets 2012: -$445,1272012Assets 2013: $214,020Liabilities 2013: $1,791,632Net Assets 2013: -$1,577,6122013Assets 2014: $513,172Liabilities 2014: $158,908Net Assets 2014: $354,2642014Assets 2015: $421,010Liabilities 2015: $149,628Net Assets 2015: $271,3822015Assets 2016: $598,345Liabilities 2016: $139,651Net Assets 2016: $458,6942016Assets 2017: $419,810Liabilities 2017: $108,875Net Assets 2017: $310,9352017Assets 2018: $701,163Liabilities 2018: $130,236Net Assets 2018: $570,9272018Assets 2019: $990,384Liabilities 2019: $253,939Net Assets 2019: $736,4452019Assets 2020: $907,505Liabilities 2020: $139,587Net Assets 2020: $767,9182020Assets 2021: $1,121,564Liabilities 2021: $147,993Net Assets 2021: $973,5712021Assets 2022: $2,512,832Liabilities 2022: $637,379Net Assets 2022: $1,875,4532022Assets 2023: $3,028,985Liabilities 2023: $609,611Net Assets 2023: $2,419,3742023Assets 2024: $4,721,422Liabilities 2024: $1,522,101Net Assets 2024: $3,199,3212024

Highlighted filing

2017

Assets$419,810
Liabilities$108,875
Net Assets$310,935
Open 2017 Filing

Operations Trend

Revenue Growth10th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$10M$5.0M$0-$5.0MRevenue 2012: $5,451,284Expenses 2012: $6,821,336Net Income 2012: -$1,370,0522012Revenue 2013: $2,733,614Expenses 2013: $3,302,074Net Income 2013: -$568,4602013Revenue 2014: $3,107,273Expenses 2014: $2,676,716Net Income 2014: $430,5572014Revenue 2015: $2,723,212Expenses 2015: $2,806,094Net Income 2015: -$82,8822015Revenue 2016: $2,524,896Expenses 2016: $2,337,584Net Income 2016: $187,3122016Revenue 2017: $1,885,106Expenses 2017: $2,026,210Net Income 2017: -$141,1042017Revenue 2018: $2,168,145Expenses 2018: $1,908,153Net Income 2018: $259,9922018Revenue 2019: $2,392,885Expenses 2019: $2,227,367Net Income 2019: $165,5182019Revenue 2020: $2,249,310Expenses 2020: $2,217,837Net Income 2020: $31,4732020Revenue 2021: $2,844,727Expenses 2021: $2,764,087Net Income 2021: $80,6402021Revenue 2022: $4,169,124Expenses 2022: $3,267,242Net Income 2022: $901,8822022Revenue 2023: $5,511,029Expenses 2023: $4,967,108Net Income 2023: $543,9212023Revenue 2024: $8,793,054Expenses 2024: $8,013,107Net Income 2024: $779,9472024

Highlighted filing

2017

Revenue$1,885,106
Expenses$2,026,210
Net Income-$141,104
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Jan 13, 2018
Return Version
2016v3.1
Gross Receipts
$1,885,106
Mission and Program Overview

Mission

Richard milburn academy of florida, inc. Operates a public high school that offer students the opportunity to get back on track, improve grades, be promoted to the next grade level, and earn their diploma in a nontraditional learning environment.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$509,095$351,531▼ $157,564
Prepaid Expenses and Deferred Charges$31,228$31,687▲ $459
Accounts Receivable$33,096$21,817▼ $11,279
Land, Buildings, and Equipment, Net$24,926$14,775▼ $10,151
Total Assets$598,345$419,810▼ $178,535
Liabilities
Accounts Payable and Accrued Expenses$139,651$108,875▼ $30,776
Total Liabilities$139,651$108,875▼ $30,776
Net Assets / Fund Balance
Unrestricted Net Assets$458,694$310,935▼ $147,759
Total Net Assets Fund Balance$458,694$310,935▼ $147,759
Total Liabilities and Net Assets / Fund Balance$598,345$419,810▼ $178,535

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$14,775$109,176-
Leasehold Improvements-$30,253-
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Edson GrahamChairman
Ashley KellyBoard Member
Sam SmithBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$53,975
Program Service Revenue
$1,804,470
Investment Income
$0
Other Revenue
$26,661
Change in Net Assets
$-141,104

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,885,106
Total Revenue per Audited Statements
$1,885,106
Total Revenue per Form 990
$1,885,106
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,121,888
Other Expenses$904,322
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$652,906$205,520-$858,426
Occupancy$315,906$78,977-$394,883
Other Employee Benefits$143,865$55,998-$199,863
Fees for Services Management$66,818$16,705-$83,523
Payroll Taxes$37,799$25,800-$63,599
All Other Expenses$28,701$11,537-$40,238
Other Expenses$17,823$960-$17,823
Depreciation Depletion$8,121$2,030-$10,151
Travel$3,539$910-$4,449
Total Functional Expenses$1,566,704$459,506$0$2,026,210

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,026,210
Total Expenses per Audited Statements$2,026,210
Total Expenses per Form 990$2,026,210
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“The organization is in contract with victory education partners for management services, effective through june 30, 2017.”

Form 990, Page 6, Part VI, Line 11B

“The president, cfo, hr and controller review from 990 prior to filing. A copy of form 990 is provided to all board memebers before filing with internal revenue service.”

Form 990, Page 6, Part VI, Line 12C

“Board memebers are required to report conflicts of interest as they become apparent.”

Form 990, Page 6, Part VI, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Richard Milburn Academy of Florida
EIN
04-3513332
Address
1031 MASON AVENUE, DAYTONA BEACH, FL 32117

Signing Officer

Name
Sam Smith
Title
Board Member
Signed
2018-01-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sam Smith
Formed
1999
Legal Domicile
Fl
Voting Board Members
3
Independent Board Members
3
Employees
37

Preparer

Firm
Mccrady & Associates
Address
PO BOX 160655, ALTAMONTE SPRINGS, FL 32716
Preparer
Stacy Mccrady
Phone
4079604429
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Richard milburn academy of florida, inc. Operates a public high school that offer students the opportunity to get back on track, improve grades, be promoted to the next grade level, and earn their diploma in a nontraditional learning environment.”

Form 990, Part XI, Line 9

“In the prior year, richard milburn academy and richard milburn middle school were both under the same ein, thus consolidated their financial statements for form 990 purposes. However, 2015 was the final year of operations for the middle school. The ending net position of the middle school was included in the 2015 form 990, but is not included in the 2016 form 990 as the school is no longer in business.”

Financial Statement Notes

Schedule D, Page 3, Part X

“The company qualifies as a tax-exempt organization under internal revenue code section 501(c)(3), and is therefore, exempt from income taxes. Accordingly, no tax provision has been made in the accompanying financial statements. Additionally, no uncertain tax positions have been made requiring disclosure in the related notes to the financial statements. The school's income tax returns for the three tax years ended 2013, 2014 and 2015 are open for examination by tax authorities, and may change upon examination.”

Raw XML Appendix332 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE COMPANY QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER INTERNAL REVENUE CODE SECTION 501(C)(3), AND IS THEREFORE, EXEMPT FROM INCOME TAXES. ACCORDINGLY, NO TAX PROVISION HAS BEEN MADE IN THE ACCOMPANYING FINANCIAL STATEMENTS. ADDITIONALLY, NO UNCERTAIN TAX POSITIONS HAVE BEEN MADE REQUIRING DISCLOSURE IN THE RELATED NOTES TO THE FINANCIAL STATEMENTS. THE SCHOOL'S INCOME TAX RETURNS FOR THE THREE TAX YEARS ENDED 2013, 2014 AND 2015 ARE OPEN FOR EXAMINATION BY TAX AUTHORITIES, AND MAY CHANGE UPON EXAMINATION.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0RICHARD MILBURN ACADEMY OF FLORIDA, INC. OPERATES A PUBLIC HIGH SCHOOL THAT OFFER STUDENTS THE OPPORTUNITY TO GET BACK ON TRACK, IMPROVE GRADES, BE PROMOTED TO THE NEXT GRADE LEVEL, AND EARN THEIR DIPLOMA IN A NONTRADITIONAL LEARNING ENVIRONMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION IS IN CONTRACT WITH VICTORY EDUCATION PARTNERS FOR MANAGEMENT SERVICES, EFFECTIVE THROUGH JUNE 30, 2017.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE PRESIDENT, CFO, HR AND CONTROLLER REVIEW FROM 990 PRIOR TO FILING. A COPY OF FORM 990 IS PROVIDED TO ALL BOARD MEMEBERS BEFORE FILING WITH INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOARD MEMEBERS ARE REQUIRED TO REPORT CONFLICTS OF INTEREST AS THEY BECOME APPARENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5IN THE PRIOR YEAR, RICHARD MILBURN ACADEMY AND RICHARD MILBURN MIDDLE SCHOOL WERE BOTH UNDER THE SAME EIN, THUS CONSOLIDATED THEIR FINANCIAL STATEMENTS FOR FORM 990 PURPOSES. HOWEVER, 2015 WAS THE FINAL YEAR OF OPERATIONS FOR THE MIDDLE SCHOOL. THE ENDING NET POSITION OF THE MIDDLE SCHOOL WAS INCLUDED IN THE 2015 FORM 990, BUT IS NOT INCLUDED IN THE 2016 FORM 990 AS THE SCHOOL IS NO LONGER IN BUSINESS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
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ReturnHeader/BuildTS02018-03-14 21:41:22Z
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD MEMBER
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MCCRADY & ASSOCIATES
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ALTAMONTE SPRINGS
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ReturnHeader/PreparerPersonGrp/PhoneNum04079604429
ReturnHeader/PreparerPersonGrp/PreparationDt02018-01-24
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STACY MCCRADY
ReturnHeader/ReturnTs02018-01-24T16:00:49-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-07-01
ReturnHeader/TaxPeriodEndDt02017-06-30
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$419,810
Liabilities
$108,875
Net assets
$310,935
Revenue
$1,885,106
Expenses
$2,026,210
Net income
-$141,104
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.72$1.52$3.20$8.79$8.01$0.78
2023Detailed filing. Detailed filing data is available for this year.$3.03$0.61$2.42$5.51$4.97$0.54
2022Detailed filing. Detailed filing data is available for this year.$2.51$0.64$1.88$4.17$3.27$0.90
2021Detailed filing. Detailed filing data is available for this year.$1.12$0.15$0.97$2.84$2.76$0.08
2020Detailed filing. Detailed filing data is available for this year.$0.91$0.14$0.77$2.25$2.22$0.03
2019Detailed filing. Detailed filing data is available for this year.$0.99$0.25$0.74$2.39$2.23$0.17
2018Detailed filing. Detailed filing data is available for this year.$0.70$0.13$0.57$2.17$1.91$0.26
2017Detailed filing. Detailed filing data is available for this year.$0.42$0.11$0.31$1.89$2.03$0.14
2016Detailed filing. Detailed filing data is available for this year.$0.60$0.14$0.46$2.52$2.34$0.19
2015Detailed filing. Detailed filing data is available for this year.$0.42$0.15$0.27$2.72$2.81$0.08
2014Detailed filing. Detailed filing data is available for this year.$0.51$0.16$0.35$3.11$2.68$0.43
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.21$1.79$1.58$2.73$3.30$0.57
2012Summary only. Only limited summary data is available for this year.$1.32$1.77$0.45$5.45$6.82$1.37