Civic Intelligence

Palm Bay Education Group Inc.

990 • Fiscal year 2016 • EIN 26-1413851

Jul 01, 2015 to Jun 30, 2016 • Filed on Nov 16, 2016

Organization ProfileN/A
2355 St Andrews BlvdPanama City, FL 32405

(850) 215-0770

Siviq Scores

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

Liabilities / Assets

56th percentile

0.14x

Higher debt load relative to assets than 56% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

31st percentile

0.04x

Higher debt load relative to revenue than 31% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

77th percentile

17%

Higher net margin than 77% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

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.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

97th percentile

133%

Faster asset growth than 97% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

96th percentile

178%

Faster revenue growth than 96% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets56th percentile

Assets

Up

$637,122

Up $364,198 (+133%) from 2015

Net Assets

Up

$545,943

Up $503,040 (+1173%) from 2015

Liabilities

Down

$91,179

Down $138,842 (-60%) from 2015

Revenue And Expenses
Liabilities / Revenue31st percentileNet Margin77th percentile

Revenue

Up

$2,488,910

Up $1,592,491 (+178%) from 2015

Expenses

Up

$2,067,422

Up $1,092,977 (+112%) from 2015

Net Income

Up

$421,488

Up $499,514 (+640%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth97th percentile

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

$30M$20M$10M$0Assets 2012: $339,335Liabilities 2012: $21,390Net Assets 2012: $317,9452012Assets 2013: $182,602Liabilities 2013: $141,964Net Assets 2013: $40,6382013Assets 2014: $150,471Liabilities 2014: $29,542Net Assets 2014: $120,9292014Assets 2015: $272,924Liabilities 2015: $230,021Net Assets 2015: $42,9032015Assets 2016: $637,122Liabilities 2016: $91,179Net Assets 2016: $545,9432016Assets 2018: $7,487,617Liabilities 2018: $6,194,667Net Assets 2018: $1,292,9502018Assets 2019: $22,503,383Liabilities 2019: $13,057,136Net Assets 2019: $9,446,2472019Assets 2021: $21,986,813Liabilities 2021: $8,640,763Net Assets 2021: $13,346,0502021Assets 2022: $22,445,635Liabilities 2022: $9,455,643Net Assets 2022: $12,989,9922022Assets 2025: $24,949,727Liabilities 2025: $13,032,539Net Assets 2025: $11,917,1882025

Highlighted filing

2016

Assets$637,122
Liabilities$91,179
Net Assets$545,943
Open 2016 Filing

Operations Trend

Revenue Growth96th percentile

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

$30M$20M$10M$0-$10MExpenses 2012: $911,9172012Expenses 2013: $850,2102013Revenue 2014: $664,390Expenses 2014: $584,099Net Income 2014: $80,2912014Revenue 2015: $896,419Expenses 2015: $974,445Net Income 2015: -$78,0262015Revenue 2016: $2,488,910Expenses 2016: $2,067,422Net Income 2016: $421,4882016Revenue 2018: $6,396,730Expenses 2018: $6,036,697Net Income 2018: $360,0332018Revenue 2019: $23,218,929Expenses 2019: $15,065,632Net Income 2019: $8,153,2972019Revenue 2021: $9,070,949Expenses 2021: $8,604,415Net Income 2021: $466,5342021Revenue 2022: $7,030,723Expenses 2022: $7,386,781Net Income 2022: -$356,0582022Revenue 2025: $8,219,473Expenses 2025: $9,096,128Net Income 2025: -$876,6552025

Highlighted filing

2016

Revenue$2,488,910
Expenses$2,067,422
Net Income$421,488
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Nov 16, 2016
Return Version
2015v2.1
Gross Receipts
$2,488,910
Mission and Program Overview

Mission

To operate 3 public charter schools in the state of florida.

To operate 2 public charter schools in the state of florida.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$230,144$539,459▲ $309,315
Rtn Earn Endowment Incm Other Fnds$17,578$524,047▲ $506,469
Prepaid Expenses and Deferred Charges-$63,020-
Land, Buildings, and Equipment, Net$25,325$21,896▼ $3,429
Pd in Cap Srpls Land Bldg Eqp Fund$25,325$21,896▼ $3,429
Accounts Receivable$13,419$12,070▼ $1,349
Pledges and Grants Receivable$4,036$677▼ $3,359
Total Assets$272,924$637,122▲ $364,198
Liabilities
Accounts Payable and Accrued Expenses$230,021$91,179▼ $138,842
Total Liabilities$230,021$91,179▼ $138,842
Net Assets / Fund Balance
Total Net Assets Fund Balance$42,903$545,943▲ $503,040
Total Liabilities and Net Assets / Fund Balance$272,924$637,122▲ $364,198

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$17,723$83,866-
Leasehold Improvements$4,173$71-
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Ron DanzeyChairman
Sue BunceVice Chair
Carla LovettExecutive Director
Tom ThortonMember
Jeremy KnappPrincipal
Kathy FontainePrincipal
Tracey AdcockSec/treas

Highest Paid Contractors

ContractorServicesLocationCompensation
Northstar ChurchFacility Lease2379 ST ANDREWS BLVD, Panama City, FL 32405$311,641
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,102,940
Investment Income
$0
Other Revenue
$385,970
Change in Net Assets
$421,488
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,067,422
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$787,221$369,231$0$1,156,452
Depreciation Depletion$51,955$0$0$51,955
Interest$2,640$0$0$2,640
Other Expenses$685$0$0$685
Total Functional Expenses$1,698,191$369,231$0$2,067,422
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
Palm Bay Education Group Inc
EIN
26-1413851
Phone
8502150770
Address
2355 ST ANDREWS BLVD, PANAMA CITY, FL 32405

Signing Officer

Name
Carla Lovett
Title
Executive Director
Phone
8502150770
Signed
2016-11-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Carla Lovett
Formed
2007
Legal Domicile
Fl
Voting Board Members
4
Independent Board Members
4
Employees
36
Volunteers
10

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.”

Pt XI

“The Bay County School District approved a charter agreement for Palm Bay Preparatory Academy which consolidated the charters of Newpoint Bay High and Newpoint Bay Academy into a single charter 6-12 school. The charter was reassigned from Newpoint Bay, Inc. to Palm Bay Educational Group, Inc.”

Form 990, Part IX, Line 24E

“Instructional staff training 1547. 1547. 0. 0.”

Form 990, Part IX, Line 24E

“Instructional technology services 17273. 17273. 0. 0.”

Form 990, Part IX, Line 24E

“Board 142311. 0. 142311. 0.”

Form 990, Part IX, Line 24E

“School administration 453841. 226921. 226920. 0.”

Form 990, Part IX, Line 24E

“Facilities acq & rent 323061. 323061. 0. 0.”

Form 990, Part IX, Line 24E

“Fiscal services 70159. 70159. 0. 0.”

Form 990, Part IX, Line 24E

“Food services 27274. 27274. 0. 0.”

Form 990, Part IX, Line 24E

“Pupil transportation 1865. 1865. 0. 0.”

Form 990, Part IX, Line 24E

“Operation of plant 78107. 78107. 0. 0.”

Form 990, Part IX, Line 24E

“Maintenance of plant 6327. 6327. 0. 0.”

Form 990, Part IX, Line 24E

“Community services 9608. 9608. 0. 0.”

Form 990, Part IX, Line 24E

“Loss on disposal of capital assets 25079. 25079. 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 SCHOOL PUBLICIZES THEIR RACIALLY NON-DISCRIMINATORY POLICY THROUGH NEWSPAPERS, DIRECT MAILINGS, OPEN HOUSES, AND OTHER MATERIALS REGARDING THE SCHOOL. NA
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1RECEIVES GRANTS THROUGH THE FLORIDA DEPT 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/ExplanationTxt3The Bay County School District approved a charter agreement for Palm Bay Preparatory Academy which consolidated the charters of Newpoint Bay High and Newpoint Bay Academy into a single charter 6-12 school. The charter was reassigned from Newpoint Bay, Inc. to Palm Bay Educational Group, Inc.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4INSTRUCTIONAL STAFF TRAINING 1547. 1547. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5INSTRUCTIONAL TECHNOLOGY SERVICES 17273. 17273. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6BOARD 142311. 0. 142311. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7SCHOOL ADMINISTRATION 453841. 226921. 226920. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8FACILITIES ACQ & RENT 323061. 323061. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9FISCAL SERVICES 70159. 70159. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10FOOD SERVICES 27274. 27274. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11PUPIL TRANSPORTATION 1865. 1865. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt12OPERATION OF PLANT 78107. 78107. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt13MAINTENANCE OF PLANT 6327. 6327. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt14COMMUNITY SERVICES 9608. 9608. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt15LOSS ON DISPOSAL OF CAPITAL ASSETS 25079. 25079. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt XI
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc12Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc13Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc14Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc15Form 990, Part IX, Line 24e
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0272924
IRS990/TotalAssetsEOYAmt0637122
IRS990/TotalAssetsGrp/BOYAmt0272924
IRS990/TotalAssetsGrp/EOYAmt0637122
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt036
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0369231
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01698191
IRS990/TotalFunctionalExpensesGrp/TotalAmt02067422
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0230021
IRS990/TotalLiabilitiesEOYAmt091179
IRS990/TotalLiabilitiesGrp/BOYAmt0230021
IRS990/TotalLiabilitiesGrp/EOYAmt091179
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt042903
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0545943
IRS990/TotalProgramServiceExpensesAmt01698191
IRS990/TotalProgramServiceRevenueAmt02102940
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02488910
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02488910
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0272924
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0637122
IRS990/TransactionWithControlEntInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02355 ST ANDREWS BLVD
IRS990/USAddress/CityNm0PANAMA CITY
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd032405
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0CARLA LOVETT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum08502150770
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-11-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PALM BAY EDUCATION GROUP INC
ReturnHeader/Filer/BusinessNameControlTxt0PALM
ReturnHeader/Filer/EIN0261413851
ReturnHeader/Filer/PhoneNum08502150770
ReturnHeader/Filer/USAddress/AddressLine1Txt02355 ST ANDREWS BLVD
ReturnHeader/Filer/USAddress/CityNm0PANAMA CITY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd032405
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/ReturnTs02016-11-29T08:16:24-08:00
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
$637,122
Liabilities
$91,179
Net assets
$545,943
Revenue
$2,488,910
Expenses
$2,067,422
Net income
$421,488
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.9$13.0$11.9$8.22$9.10$0.88
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$22.4$9.46$13.0$7.03$7.39$0.36
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$22.0$8.64$13.3$9.07$8.60$0.47
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$22.5$13.1$9.45$23.2$15.1$8.15
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.49$6.19$1.29$6.40$6.04$0.36
2016Detailed filing. Detailed filing data is available for this year.$0.64$0.09$0.55$2.49$2.07$0.42
2015Detailed filing. Detailed filing data is available for this year.$0.27$0.23$0.04$0.90$0.97$0.08
2014Detailed filing. Detailed filing data is available for this year.$0.15$0.03$0.12$0.66$0.58$0.08
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.18$0.14$0.04$0.85
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.34$0.02$0.32$0.91