Civic Intelligence

Independence Academy Schools Inc

990 • Fiscal year 2015 • EIN 20-5153917

Jul 01, 2014 to Jun 30, 2015 • Filed on Nov 06, 2015

Organization ProfileN/A
905 W Terrace DrPlant City, FL 33563

(813) 707-1060

Siviq Scores

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

Liabilities / Assets

60th percentile

0.19x

Higher debt load relative to assets than 60% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

41st percentile

0.07x

Higher debt load relative to revenue than 41% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

14th percentile

-21%

Higher net margin than 14% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

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.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

3rd percentile

-36%

Faster asset growth than 3% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

31st percentile

-3.8%

Faster revenue growth than 31% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets60th percentile

Assets

Down

$1,549,355

Down $888,037 (-36%) from 2014

Net Assets

Down

$1,257,251

Down $891,275 (-41%) from 2014

Liabilities

Up

$292,104

Up $3,238 (+1.1%) from 2014

Revenue And Expenses
Liabilities / Revenue41st percentileNet Margin14th percentile

Revenue

Down

$4,314,891

Down $168,341 (-3.8%) from 2014

Expenses

Up

$5,206,166

Up $1,241,943 (+31%) from 2014

Net Income

Down

-$891,275

Down $1,410,284 (-272%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth3rd percentile

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

$3.0M$2.0M$1.0M$0Assets 2011: $1,434,362Liabilities 2011: $397,147Net Assets 2011: $1,037,2152011Assets 2012: $1,607,517Liabilities 2012: $245,424Net Assets 2012: $1,362,0932012Assets 2013: $1,915,017Liabilities 2013: $285,500Net Assets 2013: $1,629,5172013Assets 2014: $2,437,392Liabilities 2014: $288,866Net Assets 2014: $2,148,5262014Assets 2015: $1,549,355Liabilities 2015: $292,104Net Assets 2015: $1,257,2512015Assets 2016: $1,489,729Liabilities 2016: $361,901Net Assets 2016: $1,127,8282016Assets 2017: $1,954,486Liabilities 2017: $403,187Net Assets 2017: $1,551,2992017

Highlighted filing

2015

Assets$1,549,355
Liabilities$292,104
Net Assets$1,257,251
Open 2015 Filing

Operations Trend

Revenue Growth31st percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2011: $3,477,8272011Expenses 2012: $3,554,5662012Revenue 2013: $4,114,504Expenses 2013: $3,847,080Net Income 2013: $267,4242013Revenue 2014: $4,483,232Expenses 2014: $3,964,223Net Income 2014: $519,0092014Revenue 2015: $4,314,891Expenses 2015: $5,206,166Net Income 2015: -$891,2752015Revenue 2016: $5,718,473Expenses 2016: $5,847,896Net Income 2016: -$129,4232016Revenue 2017: $6,777,440Expenses 2017: $6,353,969Net Income 2017: $423,4712017

Highlighted filing

2015

Revenue$4,314,891
Expenses$5,206,166
Net Income-$891,275
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Nov 6, 2015
Return Version
2014v5.0
Gross Receipts
$4,314,891
Mission and Program Overview

Mission

To operate a charter school in

To operate a charter school in hillsborough county, florida.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,687,298$1,159,282▼ $528,016
Rtn Earn Endowment Incm Other Fnds$1,439,246$980,607▼ $458,639
Land, Buildings, and Equipment, Net$709,280$276,644▼ $432,636
Pd in Cap Srpls Land Bldg Eqp Fund$709,280$276,644▼ $432,636
Prepaid Expenses and Deferred Charges$3,587$93,169▲ $89,582
Pledges and Grants Receivable-$15,752-
Accounts Receivable$37,227$4,508▼ $32,719
Total Assets$2,437,392$1,549,355▼ $888,037
Liabilities
Accounts Payable and Accrued Expenses$288,866$292,104▲ $3,238
Total Liabilities$288,866$292,104▲ $3,238
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,148,526$1,257,251▼ $891,275
Total Liabilities and Net Assets / Fund Balance$2,437,392$1,549,355▼ $888,037

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$200,351$50,650-
Leasehold Improvements$76,293$3,117-
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Charles HarrisChairman
Patricia RogersDirector
Tammy ChanceyMember
Shane ClarkePrincipal

Highest Paid Contractors

ContractorServicesLocationCompensation
Charter School Associates INCManagement Services4300 N UNIVERSITY DR, Sunrise, FL 33351$276,386
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$4,109,836
Investment Income
$0
Other Revenue
$205,055
Change in Net Assets
$-891,275
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,206,166
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$1,989,832$508,012$0$2,497,844
Depreciation Depletion$93,299$0$0$93,299
Other Expenses$44,125$0$0$44,125
Total Functional Expenses$4,698,154$508,012$0$5,206,166
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Independence Academy Schools Inc
EIN
20-5153917
Phone
8137071060
Address
905 W TERRACE DR, PLANT CITY, FL 33563

Signing Officer

Name
Charles Harris
Title
Board Chair
Phone
8137071060
Signed
2015-11-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Charles Harris
Formed
2006
Legal Domicile
Fl
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
23

Preparer

Firm
Robert Walker CPA PA
Address
2803 W Busch Blvd Ste 106, Tampa, FL 33618
Preparer
Robert Walker CPA
Phone
8136248643
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“The 990 is prepared by an independent cpa firm and a draft is provided to the finance committee for review. The final 990 is provided to the board for approval.”

Pt VI, Line 12C

“At each board meeting, the agenda is notated to remind board members to recuse from voting on any item that may be a conflict of interest.”

Pt VI, Line 15B

“The principal is paid in accordance with the school district's pay scale.”

Form 990, Part IX, Line 24F

“Board of education 41377. 0. 41377. 0. Curriculum development 36661. 36661. 0. 0. General administration 271620. 0. 271620. 0. School administration 390031. 195016. 195015. 0. Facilities acq & rent 374423. 374423. 0. 0. Fiscal services 175718. 175718. 0. 0. Food services 132744. 132744. 0. 0. Operation of plant 332126. 332126. 0. 0. Maintenance of plant 24635. 24635. 0. 0. Community services 97313. 97313. 0. 0. Loss on disposal of fixed assets 621196. 621196. 0. 0.”

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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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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE NONDISCRIMINATION STATEMENT APPEARS IN ALL NOTICES. NA
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1RECEIVES GRANTS THROUGH THE FLORIDA DEPARTMENT OF EDUCATION
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 990 IS PREPARED BY AN INDEPENDENT CPA FIRM AND A DRAFT IS PROVIDED TO THE FINANCE COMMITTEE FOR REVIEW. THE FINAL 990 IS PROVIDED TO THE BOARD FOR APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AT EACH BOARD MEETING, THE AGENDA IS NOTATED TO REMIND BOARD MEMBERS TO RECUSE FROM VOTING ON ANY ITEM THAT MAY BE A CONFLICT OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE PRINCIPAL IS PAID IN ACCORDANCE WITH THE SCHOOL DISTRICT'S PAY SCALE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOARD OF EDUCATION 41377. 0. 41377. 0. CURRICULUM DEVELOPMENT 36661. 36661. 0. 0. GENERAL ADMINISTRATION 271620. 0. 271620. 0. SCHOOL ADMINISTRATION 390031. 195016. 195015. 0. FACILITIES ACQ & RENT 374423. 374423. 0. 0. FISCAL SERVICES 175718. 175718. 0. 0. FOOD SERVICES 132744. 132744. 0. 0. OPERATION OF PLANT 332126. 332126. 0. 0. MAINTENANCE OF PLANT 24635. 24635. 0. 0. COMMUNITY SERVICES 97313. 97313. 0. 0. LOSS ON DISPOSAL OF FIXED ASSETS 621196. 621196. 0. 0.
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IRS990/TotalLiabilitiesGrp/EOYAmt0292104
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02148526
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01257251
IRS990/TotalProgramServiceExpensesAmt04698154
IRS990/TotalProgramServiceRevenueAmt04109836
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt04314891
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt04314891
IRS990/TotalVolunteersCnt023
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02437392
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01549355
IRS990/TransactionWithControlEntInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0905 W TERRACE DR
IRS990/USAddress/CityNm0PLANT CITY
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd033563
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-04-25 22:37:26Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0CHARLES HARRIS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum08137071060
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-11-06
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0INDEPENDENCE ACADEMY SCHOOLS INC
ReturnHeader/Filer/BusinessNameControlTxt0INDE
ReturnHeader/Filer/EIN0205153917
ReturnHeader/Filer/PhoneNum08137071060
ReturnHeader/Filer/USAddress/AddressLine1Txt0905 W TERRACE DR
ReturnHeader/Filer/USAddress/CityNm0PLANT CITY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd033563
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Robert Walker CPA PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02803 W Busch Blvd Ste 106
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Tampa
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd033618
ReturnHeader/PreparerPersonGrp/PhoneNum08136248643
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ROBERT WALKER CPA
ReturnHeader/ReturnTs02015-12-17T09:45:30-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-07-01
ReturnHeader/TaxPeriodEndDt02015-06-30
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,549,355
Liabilities
$292,104
Net assets
$1,257,251
Revenue
$4,314,891
Expenses
$5,206,166
Net income
-$891,275
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2017Detailed filing. Detailed filing data is available for this year.$1.95$0.40$1.55$6.78$6.35$0.42
2016Detailed filing. Detailed filing data is available for this year.$1.49$0.36$1.13$5.72$5.85$0.13
2015Detailed filing. Detailed filing data is available for this year.$1.55$0.29$1.26$4.31$5.21$0.89
2014Detailed filing. Detailed filing data is available for this year.$2.44$0.29$2.15$4.48$3.96$0.52
2013Summary only. Only limited summary data is available for this year.$1.92$0.29$1.63$4.11$3.85$0.27
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.61$0.25$1.36$3.55
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.43$0.40$1.04$3.48