Civic Intelligence

Palm Bay Education Group Inc.

990 • Fiscal year 2017 • EIN 26-1413851

Jul 01, 2016 to Jun 30, 2017 • Filed on Nov 09, 2017

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

87th percentile

0.76x

Higher debt load relative to assets than 87% of similar nonprofits.

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

Liabilities / Revenue

84th percentile

0.88x

Higher debt load relative to revenue than 84% of similar nonprofits.

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

Net Margin

67th percentile

10%

Higher net margin than 67% 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

99th percentile

458%

Faster asset growth than 99% of similar nonprofits.

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

Revenue Growth

75th percentile

22%

Faster revenue growth than 75% of similar nonprofits.

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

Assets

Up

$3,558,306

Up $2,921,184 (+458%) from 2016

Net Assets

Up

$862,507

Up $316,564 (+58%) from 2016

Liabilities

Up

$2,695,799

Up $2,604,620 (+2857%) from 2016

Revenue

Up

$3,047,211

Up $558,301 (+22%) from 2016

Expenses

Up

$2,730,647

Up $663,225 (+32%) from 2016

Net Income

Down

$316,564

Down $104,924 (-25%) from 2016

Historical Trend

Balance Sheet Trend

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 2017: $3,558,306Liabilities 2017: $2,695,799Net Assets 2017: $862,5072017Assets 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

2017

Assets$3,558,306
Liabilities$2,695,799
Net Assets$862,507

Operations Trend

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 2017: $3,047,211Expenses 2017: $2,730,647Net Income 2017: $316,5642017Revenue 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

2017

Revenue$3,047,211
Expenses$2,730,647
Net Income$316,564
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Nov 9, 2017
Return Version
2016v3.0
Gross Receipts
$3,047,211
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
Land, Buildings, and Equipment, Net$21,896$2,606,867▲ $2,584,971
Rtn Earn Endowment Incm Other Fnds$524,047$755,640▲ $231,593
Cash and Non-Interest-Bearing Accounts$539,459$540,334▲ $875
Accounts Receivable$12,070$288,510▲ $276,440
Pd in Cap Srpls Land Bldg Eqp Fund$21,896$106,867▲ $84,971
Prepaid Expenses and Deferred Charges$63,020$61,566▼ $1,454
Pledges and Grants Receivable$677$61,029▲ $60,352
Total Assets$637,122$3,558,306▲ $2,921,184
Liabilities
Mortgage Notes Payable Secured by Investment Property-$2,500,000-
Accounts Payable and Accrued Expenses$91,179$195,799▲ $104,620
Total Liabilities$91,179$2,695,799▲ $2,604,620
Net Assets / Fund Balance
Total Net Assets Fund Balance$545,943$862,507▲ $316,564
Total Liabilities and Net Assets / Fund Balance$637,122$3,558,306▲ $2,921,184

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,790,255$7,491-
Land$752,600--
Equipment$38,724$102,844-
Leasehold Improvements$25,288$3,801-
Compensation and Service Providers

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 Lease430 WEST 5TH STREET SUITE 400, Panama City, FL 32401$412,177
Revenue and Support

Revenue Composition

Contributions and Grants
$213,138
Program Service Revenue
$2,747,690
Investment Income
$0
Other Revenue
$86,383
Change in Net Assets
$316,564
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,730,647
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$880,757$437,332$0$1,318,089
Depreciation Depletion$30,199$0$0$30,199
Interest$18,197$0$0$18,197
Other Expenses$540$0$0$540
Total Functional Expenses$2,293,315$437,332$0$2,730,647
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
2017-11-09
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
50
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 9799. 9799. 0. 0.

Form 990, Part IX, Line 24E

Instructional technology services 24398. 24398. 0. 0.

Form 990, Part IX, Line 24E

Board 185531. 0. 185531. 0.

Form 990, Part IX, Line 24E

School administration 497597. 248799. 248798. 0.

Form 990, Part IX, Line 24E

Facilities acq & rent 354738. 354738. 0. 0.

Form 990, Part IX, Line 24E

Fiscal services 86071. 86071. 0. 0.

Form 990, Part IX, Line 24E

Food services 37734. 37734. 0. 0.

Form 990, Part IX, Line 24E

Pupil transportation 7062. 7062. 0. 0.

Form 990, Part IX, Line 24E

Operation of plant 77795. 77795. 0. 0.

Form 990, Part IX, Line 24E

Maintenance of plant 6024. 6024. 0. 0.

Form 990, Part IX, Line 24E

Community services 9744. 9744. 0. 0.

Form 990, Part IX, Line 24E

General administration 3003. 0. 3003. 0.

Form 990, Part IX, Line 24E

Central services 18593. 18593. 0. 0.

Raw XML Appendix383 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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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
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Line 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Line 6b
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
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 9799. 9799. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5INSTRUCTIONAL TECHNOLOGY SERVICES 24398. 24398. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6BOARD 185531. 0. 185531. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7SCHOOL ADMINISTRATION 497597. 248799. 248798. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8FACILITIES ACQ & RENT 354738. 354738. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9FISCAL SERVICES 86071. 86071. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10FOOD SERVICES 37734. 37734. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11PUPIL TRANSPORTATION 7062. 7062. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt12OPERATION OF PLANT 77795. 77795. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt13MAINTENANCE OF PLANT 6024. 6024. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt14COMMUNITY SERVICES 9744. 9744. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt15GENERAL ADMINISTRATION 3003. 0. 3003. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt16CENTRAL SERVICES 18593. 18593. 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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc16Form 990, Part IX, Line 24e
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0637122
IRS990/TotalAssetsEOYAmt03558306
IRS990/TotalAssetsGrp/BOYAmt0637122
IRS990/TotalAssetsGrp/EOYAmt03558306
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0213138
IRS990/TotalEmployeeCnt050
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0437332
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02293315
IRS990/TotalFunctionalExpensesGrp/TotalAmt02730647
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt091179
IRS990/TotalLiabilitiesEOYAmt02695799
IRS990/TotalLiabilitiesGrp/BOYAmt091179
IRS990/TotalLiabilitiesGrp/EOYAmt02695799
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0545943
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0862507
IRS990/TotalProgramServiceExpensesAmt02293315
IRS990/TotalProgramServiceRevenueAmt02747690
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02834073
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03047211
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0637122
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03558306
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/SignatureDt02017-11-09
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/FilingSecurityInformation/AtSubmissionCreationDeviceId037D01614BBCBDEC9C1CEABF1223555DD313F2831
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId037D01614BBCBDEC9C1CEABF1223555DD313F2831
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt047.205.11.235
ReturnHeader/FilingSecurityInformation/IPDt02017-11-27
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0PS
ReturnHeader/FilingSecurityInformation/IPTm010:08:17
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/ReturnTs02017-11-27T10:08:21-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-07-01
ReturnHeader/TaxPeriodEndDt02017-06-30
ReturnHeader/TaxYr02016

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