Civic Intelligence

Palm Harbor Academy Inc.

990 • Fiscal year 2018 • EIN 27-0373254

Jul 01, 2017 to Jun 30, 2018 • Filed on Mar 11, 2019

Organization ProfileN/A
95 Old Kings Road NPalm Coast, FL 32137

(386) 447-9692

Siviq Scores

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

Liabilities / Assets

89th percentile

0.83x

Higher debt load relative to assets than 89% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

60th percentile

0.15x

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

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

20th percentile

-10%

Higher net margin than 20% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

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.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

64th percentile

5.5%

Faster asset growth than 64% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

60th percentile

8.2%

Faster revenue growth than 60% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets89th percentile

Assets

Up

$226,040

Up $11,884 (+5.5%) from 2017

Net Assets

Down

$38,800

Down $111,510 (-74%) from 2017

Liabilities

Up

$187,240

Up $123,394 (+193%) from 2017

Revenue And Expenses
Liabilities / Revenue60th percentileNet Margin20th percentile

Revenue

Up

$1,213,305

Up $91,538 (+8.2%) from 2017

Expenses

Up

$1,338,067

Up $228,411 (+21%) from 2017

Net Income

Down

-$124,762

Down $136,873 (-1130%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth64th percentile

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

$1.0M$500K$0-$500KAssets 2014: $89,795Liabilities 2014: $32,982Net Assets 2014: $56,8132014Assets 2015: $92,577Liabilities 2015: $35,482Net Assets 2015: $57,0952015Assets 2016: $188,044Liabilities 2016: $49,845Net Assets 2016: $138,1992016Assets 2017: $214,156Liabilities 2017: $63,846Net Assets 2017: $150,3102017Assets 2018: $226,040Liabilities 2018: $187,240Net Assets 2018: $38,8002018Assets 2019: $51,433Liabilities 2019: $186,650Net Assets 2019: -$135,2172019Assets 2020: $157,179Liabilities 2020: $310,278Net Assets 2020: -$153,0992020Assets 2021: $238,287Liabilities 2021: $408,444Net Assets 2021: -$170,1572021Assets 2022: $468,083Liabilities 2022: $708,430Net Assets 2022: -$240,3472022Assets 2023: $432,970Liabilities 2023: $689,460Net Assets 2023: -$256,4902023

Highlighted filing

2018

Assets$226,040
Liabilities$187,240
Net Assets$38,800
Open 2018 Filing

Operations Trend

Revenue Growth60th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2014: $789,240Expenses 2014: $799,793Net Income 2014: -$10,5532014Revenue 2015: $924,484Expenses 2015: $924,202Net Income 2015: $2822015Revenue 2016: $1,147,717Expenses 2016: $1,066,613Net Income 2016: $81,1042016Revenue 2017: $1,121,767Expenses 2017: $1,109,656Net Income 2017: $12,1112017Revenue 2018: $1,213,305Expenses 2018: $1,338,067Net Income 2018: -$124,7622018Revenue 2019: $567,378Expenses 2019: $724,552Net Income 2019: -$157,1742019Revenue 2020: $436,116Expenses 2020: $453,997Net Income 2020: -$17,8812020Revenue 2021: $423,602Expenses 2021: $440,861Net Income 2021: -$17,2592021Revenue 2022: $538,094Expenses 2022: $608,284Net Income 2022: -$70,1902022Revenue 2023: $631,068Expenses 2023: $647,213Net Income 2023: -$16,1452023

Highlighted filing

2018

Revenue$1,213,305
Expenses$1,338,067
Net Income-$124,762
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Mar 11, 2019
Return Version
2017v2.2
Gross Receipts
$1,222,081
Mission and Program Overview

Mission

To provide educational services to economically and socially disadvantaged youth.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$37,794$125,919▲ $88,125
Land, Buildings, and Equipment, Net$86,324$60,929▼ $25,395
Pledges and Grants Receivable$90,038$36,132▼ $53,906
Rtn Earn Endowment Incm Other Fnds$111,784$21,360▼ $90,424
Pd in Cap Srpls Land Bldg Eqp Fund$38,526$17,440▼ $21,086
Prepaid Expenses and Deferred Charges-$3,060-
Total Assets$214,156$226,040▲ $11,884
Liabilities
Accounts Payable and Accrued Expenses$16,048$143,751▲ $127,703
Mortgage Notes Payable Secured by Investment Property$47,798$43,489▼ $4,309
Total Liabilities$63,846$187,240▲ $123,394
Net Assets / Fund Balance
Total Net Assets Fund Balance$150,310$38,800▼ $111,510
Total Liabilities and Net Assets / Fund Balance$214,156$226,040▲ $11,884

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$9,174$36,759-
Equipment$35,001$79,988-
Leasehold Improvements$16,754$15,552-
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Gillard S GloverChairman
DONALD O'BRIANTrustee
Doug MilneTrustee
Isaiah HarrisTrustee
William MosleyTrustee
Taylor CrootPrincipal
Betty Despenza-greenTrsutee
Revenue and Support

Revenue Composition

Contributions and Grants
$191,034
Program Service Revenue
$947,643
Investment Income
$0
Other Revenue
$74,628
Change in Net Assets
$-124,762
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,338,067
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$576,254$0$0$576,254
Other Expenses$29,222$0$0$29,222
Depreciation Depletion$19,811$0$0$19,811
Interest$3,703$0$0$3,703
Total Functional Expenses$1,170,824$167,243$0$1,338,067
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$23,650
Fundraising Direct Expenses$8,776
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Luncheon$23,650$23,650-$23,650
Total Events$23,650$23,650$8,776$14,874
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Gillard S GloverBoard ChairmanFacility LeaseNo$214,166
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
Yes
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 Harbor Academy Inc
EIN
27-0373254
Phone
3864479692
Address
95 OLD KINGS ROAD N, PALM COAST, FL 32137

Signing Officer

Name
Gillard S Glover
Title
Chairman
Phone
3864479692
Signed
2019-03-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gillard S Glover
Formed
2009
Legal Domicile
Fl
Voting Board Members
6
Independent Board Members
6
Employees
41
Volunteers
25

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's salary is a negotiated rate based on experience and the schools attendance factors.”

Form 990, Part IX, Line 24E

“Food service 121918. 121918. 0. 0.”

Form 990, Part IX, Line 24E

“Pupil transportation 140895. 140895. 0. 0.”

Form 990, Part IX, Line 24E

“Operation of plant 313441. 313441. 0. 0.”

Financial Statement Notes

Pt X, Line 2

“The school is exempt from federal tax under section 501(c)(3) of the internalrevenue code. Accordingly, no provision for income taxes has been included inthe accompanying financial statements. Additionally, no uncertain tax positionshave been made requiring disclosure in the related note to financial statements.the schools income tax returns for the past three years are subject toexamination by tax authorities and may change upon examination.”

Raw XML Appendix360 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 SCHOOL IS EXEMPT FROM FEDERAL TAX UNDER SECTION 501(C)(3) OF THE INTERNALREVENUE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN INCLUDED INTHE ACCOMPANYING FINANCIAL STATEMENTS. ADDITIONALLY, NO UNCERTAIN TAX POSITIONSHAVE BEEN MADE REQUIRING DISCLOSURE IN THE RELATED NOTE TO FINANCIAL STATEMENTS.THE SCHOOLS INCOME TAX RETURNS FOR THE PAST THREE YEARS ARE SUBJECT TOEXAMINATION BY TAX AUTHORITIES AND MAY CHANGE UPON EXAMINATION.
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0FACILITY LEASE
IRS990/ScheduleORequiredInd0false
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'S SALARY IS A NEGOTIATED RATE BASED ON EXPERIENCE AND THE SCHOOLS ATTENDANCE FACTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FOOD SERVICE 121918. 121918. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4PUPIL TRANSPORTATION 140895. 140895. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5OPERATION OF PLANT 313441. 313441. 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
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0214156
IRS990/TotalAssetsEOYAmt0226040
IRS990/TotalAssetsGrp/BOYAmt0214156
IRS990/TotalAssetsGrp/EOYAmt0226040
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0191034
IRS990/TotalEmployeeCnt041
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0167243
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01170824
IRS990/TotalFunctionalExpensesGrp/TotalAmt01338067
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt063846
IRS990/TotalLiabilitiesEOYAmt0187240
IRS990/TotalLiabilitiesGrp/BOYAmt063846
IRS990/TotalLiabilitiesGrp/EOYAmt0187240
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0150310
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt038800
IRS990/TotalProgramServiceExpensesAmt01170824
IRS990/TotalProgramServiceRevenueAmt0947643
IRS990/TotalRevenueGrp/ExclusionAmt014874
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01007397
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01213305
IRS990/TotalVolunteersCnt025
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0214156
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0226040
IRS990/TransactionWithControlEntInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt095 OLD KINGS ROAD N
IRS990/USAddress/CityNm0PALM COAST
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd032137
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0GILLARD S GLOVER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum03864479692
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-03-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PALM HARBOR ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0PALM
ReturnHeader/Filer/EIN0270373254
ReturnHeader/Filer/PhoneNum03864479692
ReturnHeader/Filer/USAddress/AddressLine1Txt095 OLD KINGS ROAD N
ReturnHeader/Filer/USAddress/CityNm0PALM COAST
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd032137
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId09BE78A63B2B994BB80C42D3444308D342F792DD2
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId037D01614BBCBDEC9C1CEABF1223555DD313F2831
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt047.205.12.198
ReturnHeader/FilingSecurityInformation/IPDt02019-03-11
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0PD
ReturnHeader/FilingSecurityInformation/IPTm008:32:59
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/ReturnTs02019-03-11T08:33:03-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$226,040
Liabilities
$187,240
Net assets
$38,800
Revenue
$1,213,305
Expenses
$1,338,067
Net income
-$124,762
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$0.43$0.69$0.26$0.63$0.65$0.02
2022Detailed filing. Detailed filing data is available for this year.$0.47$0.71$0.24$0.54$0.61$0.07
2021Detailed filing. Detailed filing data is available for this year.$0.24$0.41$0.17$0.42$0.44$0.02
2020Detailed filing. Detailed filing data is available for this year.$0.16$0.31$0.15$0.44$0.45$0.02
2019Detailed filing. Detailed filing data is available for this year.$0.05$0.19$0.14$0.57$0.72$0.16
2018Detailed filing. Detailed filing data is available for this year.$0.23$0.19$0.04$1.21$1.34$0.12
2017Detailed filing. Detailed filing data is available for this year.$0.21$0.06$0.15$1.12$1.11$0.01
2016Detailed filing. Detailed filing data is available for this year.$0.19$0.05$0.14$1.15$1.07$0.08
2015Detailed filing. Detailed filing data is available for this year.$0.09$0.04$0.06$0.92$0.92$0.00
2014Detailed filing. Detailed filing data is available for this year.$0.09$0.03$0.06$0.79$0.80$0.01