Civic Intelligence

Independence Academy Schools Inc

990 • Fiscal year 2016 • EIN 20-5153917

Jul 01, 2015 to Jun 30, 2016 • Filed on Nov 01, 2016

Organization ProfileN/A
12902 E US Highway 92Dover, FL 33527

(813) 707-1060

Siviq Scores

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

Liabilities / Assets

57th percentile

0.24x

Higher debt load relative to assets than 57% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

26th percentile

0.06x

Higher debt load relative to revenue than 26% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Net Margin

32nd percentile

-2.3%

Higher net margin than 32% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

19th percentile

$0

Higher top officer pay than 19% of similar nonprofits.

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

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Asset Growth

23rd percentile

-3.8%

Faster asset growth than 23% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Revenue Growth

86th percentile

33%

Faster revenue growth than 86% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets57th percentile

Assets

Down

$1,489,729

Down $59,626 (-3.8%) from 2015

Net Assets

Down

$1,127,828

Down $129,423 (-10%) from 2015

Liabilities

Up

$361,901

Up $69,797 (+24%) from 2015

Revenue And Expenses
Liabilities / Revenue26th percentileNet Margin32nd percentile

Revenue

Up

$5,718,473

Up $1,403,582 (+33%) from 2015

Expenses

Up

$5,847,896

Up $641,730 (+12%) from 2015

Net Income

Up

-$129,423

Up $761,852 (+85%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth23rd 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

2016

Assets$1,489,729
Liabilities$361,901
Net Assets$1,127,828
Open 2016 Filing

Operations Trend

Revenue Growth86th 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

2016

Revenue$5,718,473
Expenses$5,847,896
Net Income-$129,423
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Nov 1, 2016
Return Version
2015v2.1
Gross Receipts
$5,718,473
Mission and Program Overview

Mission

To operate a charter school in

To operate 2 charter schools in hillsborough county, florida.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,159,282$1,067,304▼ $91,978
Rtn Earn Endowment Incm Other Fnds$980,607$812,434▼ $168,173
Land, Buildings, and Equipment, Net$276,644$315,394▲ $38,750
Pd in Cap Srpls Land Bldg Eqp Fund$276,644$315,394▲ $38,750
Prepaid Expenses and Deferred Charges$93,169$88,121▼ $5,048
Pledges and Grants Receivable$15,752$15,619▼ $133
Accounts Receivable$4,508$3,291▼ $1,217
Total Assets$1,549,355$1,489,729▼ $59,626
Liabilities
Accounts Payable and Accrued Expenses$292,104$361,901▲ $69,797
Total Liabilities$292,104$361,901▲ $69,797
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,257,251$1,127,828▼ $129,423
Total Liabilities and Net Assets / Fund Balance$1,549,355$1,489,729▼ $59,626

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$215,656$107,120-
Leasehold Improvements$99,738$10,900-
Compensation and Service Providers
Top Officer Pay19th percentile

Board Members and Trustees

NameTitle
Charles HarrisChairman
Tammy ChanceyMember
Shane ClarkePrincipal
Patricia RogersSecretary/treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Charter Hc McintoshFacility Lease20900 NE 30TH AVE SUITE 311, Aventura, FL 33180$913,042
Charter School Associates INCManagement Services5471 N UNIVERSITY DR, Coral Springs, FL 33067$491,438
Preferred MealsFood Services8152 SOLUTIONS CENTER, Chicago, IL 60677$103,087
Revenue and Support

Revenue Composition

Contributions and Grants
$111,907
Program Service Revenue
$5,462,087
Investment Income
$0
Other Revenue
$144,479
Change in Net Assets
$-129,423
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,847,896
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$2,098,925$630,925$0$2,729,850
Depreciation Depletion$64,253$0$0$64,253
Other Expenses$52,089$0$0$52,089
Total Functional Expenses$5,216,971$630,925$0$5,847,896
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
12902 E US HIGHWAY 92, DOVER, FL 33527

Signing Officer

Name
Charles Harris
Title
Chairman
Phone
8137071060
Signed
2016-11-01
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 24E

“Board of education 32228. 0. 32228. 0.”

Form 990, Part IX, Line 24E

“General administration 384489. 0. 384489. 0.”

Form 990, Part IX, Line 24E

“School administration 428417. 214209. 214208. 0.”

Form 990, Part IX, Line 24E

“Facilities 899057. 899057. 0. 0.”

Form 990, Part IX, Line 24E

“Fiscal services 241759. 241759. 0. 0.”

Form 990, Part IX, Line 24E

“Food services 167832. 167832. 0. 0.”

Form 990, Part IX, Line 24E

“Operation of plant 433491. 433491. 0. 0.”

Form 990, Part IX, Line 24E

“Maintenance of plant 3485. 3485. 0. 0.”

Form 990, Part IX, Line 24E

“Community services 139092. 139092. 0. 0.”

Raw XML Appendix361 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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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.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7FISCAL SERVICES 241759. 241759. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8FOOD SERVICES 167832. 167832. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9OPERATION OF PLANT 433491. 433491. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10MAINTENANCE OF PLANT 3485. 3485. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11COMMUNITY SERVICES 139092. 139092. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc10Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc11Form 990, Part IX, Line 24e
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01549355
IRS990/TotalAssetsEOYAmt01489729
IRS990/TotalAssetsGrp/BOYAmt01549355
IRS990/TotalAssetsGrp/EOYAmt01489729
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0111907
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0630925
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt05216971
IRS990/TotalFunctionalExpensesGrp/TotalAmt05847896
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0292104
IRS990/TotalLiabilitiesEOYAmt0361901
IRS990/TotalLiabilitiesGrp/BOYAmt0292104
IRS990/TotalLiabilitiesGrp/EOYAmt0361901
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01257251
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01127828
IRS990/TotalProgramServiceExpensesAmt05216971
IRS990/TotalProgramServiceRevenueAmt05462087
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt05606566
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt05718473
IRS990/TotalVolunteersCnt023
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01549355
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01489729
IRS990/TransactionWithControlEntInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt012902 E US HIGHWAY 92
IRS990/USAddress/CityNm0DOVER
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd033527
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0CHARLES HARRIS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum08137071060
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-11-01
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0INDEPENDENCE ACADEMY SCHOOLS INC
ReturnHeader/Filer/BusinessNameControlTxt0INDE
ReturnHeader/Filer/EIN0205153917
ReturnHeader/Filer/PhoneNum08137071060
ReturnHeader/Filer/USAddress/AddressLine1Txt012902 E US HIGHWAY 92
ReturnHeader/Filer/USAddress/CityNm0DOVER
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd033527
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/ReturnTs02016-11-09T06:44:19-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,489,729
Liabilities
$361,901
Net assets
$1,127,828
Revenue
$5,718,473
Expenses
$5,847,896
Net income
-$129,423
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