Civic Intelligence

Ocean Studies Charter School Inc.

990 • Fiscal year 2016 • EIN 27-0677326

Jul 01, 2015 to Jun 30, 2016 • Filed on Apr 12, 2017

92295 Old State RoadTavernier, FL 33070

(305) 852-7700

Siviq Scores

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

Liabilities / Assets

77th percentile

0.45x

Higher debt load relative to assets than 77% of similar nonprofits.

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

Liabilities / Revenue

47th percentile

0.09x

Higher debt load relative to revenue than 47% of similar nonprofits.

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

Net Margin

44th percentile

0.5%

Higher net margin than 44% 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

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2016

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2016

Assets

$214,070

No earlier filing loaded for comparison.

Net Assets

$118,194

No earlier filing loaded for comparison.

Liabilities

$95,876

No earlier filing loaded for comparison.

Revenue

$1,078,301

No earlier filing loaded for comparison.

Expenses

$1,073,048

No earlier filing loaded for comparison.

Net Income

$5,253

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2016: $214,070Liabilities 2016: $95,876Net Assets 2016: $118,1942016Assets 2017: $269,708Liabilities 2017: $108,696Net Assets 2017: $161,0122017Assets 2018: $524,714Liabilities 2018: $105,870Net Assets 2018: $418,8442018Assets 2019: $502,921Liabilities 2019: $82,528Net Assets 2019: $420,3932019Assets 2020: $2,761,231Liabilities 2020: $1,856,661Net Assets 2020: $904,5702020Assets 2021: $3,524,869Liabilities 2021: $2,272,067Net Assets 2021: $1,252,8022021Assets 2022: $4,797,631Liabilities 2022: $2,806,995Net Assets 2022: $1,990,6362022Assets 2023: $4,849,709Liabilities 2023: $2,427,455Net Assets 2023: $2,422,2542023Assets 2024: $6,962,677Liabilities 2024: $2,075,012Net Assets 2024: $4,887,6652024

Highlighted filing

2016

Assets$214,070
Liabilities$95,876
Net Assets$118,194

Operations Trend

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

$6.0M$4.0M$2.0M$0Revenue 2016: $1,078,301Expenses 2016: $1,073,048Net Income 2016: $5,2532016Revenue 2017: $1,111,253Expenses 2017: $1,068,435Net Income 2017: $42,8182017Revenue 2018: $1,415,421Expenses 2018: $1,157,589Net Income 2018: $257,8322018Revenue 2019: $1,253,905Expenses 2019: $1,252,356Net Income 2019: $1,5492019Revenue 2020: $1,775,884Expenses 2020: $1,291,707Net Income 2020: $484,1772020Revenue 2021: $1,847,922Expenses 2021: $1,499,690Net Income 2021: $348,2322021Revenue 2022: $2,809,097Expenses 2022: $2,071,263Net Income 2022: $737,8342022Revenue 2023: $3,126,127Expenses 2023: $2,694,509Net Income 2023: $431,6182023Revenue 2024: $5,211,382Expenses 2024: $2,745,971Net Income 2024: $2,465,4112024

Highlighted filing

2016

Revenue$1,078,301
Expenses$1,073,048
Net Income$5,253
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Apr 12, 2017
Return Version
2015v3.0
Gross Receipts
$1,078,301
Mission and Program Overview

Mission

The mission of ocean studies charter school is to offer a quality public education based on the best practices in accelerated learning and reflecting the diversity of the children of monroe county. Ocean studies charter school will offer a rigorous academic program, producing students who meet or exceed the sunshine state standards in english language arts, math, science and social studies. While nurturing curiosity, creativity and imagination, we will encourage children to become independent, responsible and self-motivated learners. Through a uniquely prepared environment and the use of special didactic materials, the students progress through individual education programs centered on the fascinating marine environment surrounding their community. In addition to its stated mission, ocean studies charter school's main priorities are: -to provide the families of the upper keys with a boarder accelerated-learning experience than that available through the traditional public school system

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$127,008$113,275▼ $13,733
Land, Buildings, and Equipment, Net$58,705$89,432▲ $30,727
Prepaid Expenses and Deferred Charges$19,792$9,917▼ $9,875
Accounts Receivable$6,786$1,446▼ $5,340
Total Assets$212,291$214,070▲ $1,779
Liabilities
Other Liabilities$99,350$93,514▼ $5,836
Accounts Payable and Accrued Expenses-$2,362-
Total Liabilities$99,350$95,876▼ $3,474
Net Assets / Fund Balance
Unrestricted Net Assets$112,941$118,194▲ $5,253
Total Net Assets Fund Balance$112,941$118,194▲ $5,253
Total Liabilities and Net Assets / Fund Balance$212,291$214,070▲ $1,779

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$47,013$14,371$61,384
Other Land Buildings$39,773$6,077$45,850
Equipment$2,646$6,731$9,377
Compensation and Service Providers

Board Members and Trustees

NameTitle
Ariel PoholekDirector
Beth KaminsteinDirector
Bridget DangelDirector
David ThompsonDirector
Joe ThompsonDirector
Kim CarterDirector
Laura BrooksDirector
Raymond BonacheaDirector
Abbie FreemanPrincipal
Revenue and Support

Revenue Composition

Contributions and Grants
$1,007,797
Program Service Revenue
$13,527
Investment Income
$2,361
Other Revenue
$54,616
Change in Net Assets
$5,253

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,078,301
Total Revenue per Audited Statements
$1,078,301
Total Revenue per Form 990
$1,078,301
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,017,098
Salaries, Compensation, and Employee Benefits$55,950
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$31,574$36,816-$68,390
Other Expenses$68,091$200,173-$68,091
Comp Disqual Persons$55,950--$55,950
Depreciation Depletion-$15,632-$15,632
Interest$1,091--$1,091
Total Functional Expenses$820,427$252,621$0$1,073,048

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,073,048
Total Expenses per Audited Statements$1,073,048
Total Expenses per Form 990$1,073,048
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accured Payroll$62,099
Capital Lease Payable$31,415
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The completed form 990 is presented to the board of directors and the principal after they have reviewed the form 990, an officer signs the return and it is filed.

Form 990, Page 6, Part VI, Line 19

Governing documents, policies and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Ocean Studies Charter School Inc
EIN
27-0677326
Phone
3058527700
Address
92295 OLD STATE ROAD, TAVERNIER, FL 33070

Signing Officer

Name
Abbie Freeman
Title
Principal
Phone
3058527700
Signed
2017-04-12

Organization Details

Principal Officer
Abbie Freeman
Formed
2009
Legal Domicile
Fl
Voting Board Members
8
Independent Board Members
8
Employees
22
Volunteers
75

Preparer

Firm
Verdeja De Armas & Trujillo Llp
Address
255 ALHAMBRA CIR STE 560, CORAL GABLES, FL 33134-7417
Preparer
Alejandro Trujillo
Phone
3054463177
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The mission of ocean studies charter school is to offer a quality public education based on the best practices in accelerated learning and reflecting the diversity of the children of monroe county. Ocean studies charter school will offer a rigorous academic program, producing students who meet or exceed the sunshine state standards in english language arts, math, science and social studies. While nurturing curiosity, creativity and imagination, we will encourage children to become independent, responsible and self-motivated learners. Through a uniquely prepared environment and the use of special didactic materials, the students progress through individual education programs centered on the fascinating marine environment surrounding their community. In addition to its stated mission, ocean studies charter school's main priorities are: -to provide the families of the upper keys with a boarder accelerated-learning experience than that available through the traditional public school system for their young children. -in a small school environment, with a maximum of 116 students enrolled, to promote enhanced academic success and financial efficiency by aligning responsibility and accountability. -meet high standards of reading and mathematics performance using montessori methods, the singapore math curriculum, the spa reading comprehension program, and a variety of innovative phonics-based learning materials, which accelerate reading skill development. -expand the capacity of the public school system with an alternative program and provide professional opportunities for highly-qualified florida certified teachers to expand their skills learning from time-tested montessori lesson plans and methods of individualized teaching. -provide an enhanced ocean science curriculum, introducing students to an in-depth study of our local marine environment and the wonders of nature around us. -provide low-performing students and struggling readers with daily one-on-one lessons and enchanced phonic and sight-reading materials and techniques, as well as individual materials to boost vocabulary development. -assess and monitor the progress of each individual student, measuring learning outcome through standardized proficiency testing proposal and assessment tools. -keep parents regularly informed of the results of initial screeing and end of year follow-up screenings of reading progress as well as results of standardized achievement testing as recommended by the school district.

Financial Statement Notes

Schedule D, Page 3, Part X

The school qualifies as a tax exempt organization under the internal revenue code section 501(c)(3), and is, therefore, exempt from income tax. Accordingly, no tax provision has been made in the accompanying financial statements.

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IRS990/MissionDesc0THE MISSION OF OCEAN STUDIES CHARTER SCHOOL IS TO OFFER A QUALITY PUBLIC EDUCATION BASED ON THE BEST PRACTICES IN ACCELERATED LEARNING AND REFLECTING THE DIVERSITY OF THE CHILDREN OF MONROE COUNTY. OCEAN STUDIES CHARTER SCHOOL WILL OFFER A RIGOROUS ACADEMIC PROGRAM, PRODUCING STUDENTS WHO MEET OR EXCEED THE SUNSHINE STATE STANDARDS IN ENGLISH LANGUAGE ARTS, MATH, SCIENCE AND SOCIAL STUDIES. WHILE NURTURING CURIOSITY, CREATIVITY AND IMAGINATION, WE WILL ENCOURAGE CHILDREN TO BECOME INDEPENDENT, RESPONSIBLE AND SELF-MOTIVATED LEARNERS. THROUGH A UNIQUELY PREPARED ENVIRONMENT AND THE USE OF SPECIAL DIDACTIC MATERIALS, THE STUDENTS PROGRESS THROUGH INDIVIDUAL EDUCATION PROGRAMS CENTERED ON THE FASCINATING MARINE ENVIRONMENT SURROUNDING THEIR COMMUNITY. IN ADDITION TO ITS STATED MISSION, OCEAN STUDIES CHARTER SCHOOL'S MAIN PRIORITIES ARE: -TO PROVIDE THE FAMILIES OF THE UPPER KEYS WITH A BOARDER ACCELERATED-LEARNING EXPERIENCE THAN THAT AVAILABLE THROUGH THE TRADITIONAL PUBLIC SCHOOL SYSTEM
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL QUALIFIES AS A TAX EXEMPT ORGANIZATION UNDER THE INTERNAL REVENUE CODE SECTION 501(C)(3), AND IS, THEREFORE, EXEMPT FROM INCOME TAX. ACCORDINGLY, NO TAX PROVISION HAS BEEN MADE IN THE ACCOMPANYING FINANCIAL STATEMENTS.
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE NONDISCRIMINATORY POLICY IS MENTIONED DURING THE USE OF BROADCAST MEDIA.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE MISSION OF OCEAN STUDIES CHARTER SCHOOL IS TO OFFER A QUALITY PUBLIC EDUCATION BASED ON THE BEST PRACTICES IN ACCELERATED LEARNING AND REFLECTING THE DIVERSITY OF THE CHILDREN OF MONROE COUNTY. OCEAN STUDIES CHARTER SCHOOL WILL OFFER A RIGOROUS ACADEMIC PROGRAM, PRODUCING STUDENTS WHO MEET OR EXCEED THE SUNSHINE STATE STANDARDS IN ENGLISH LANGUAGE ARTS, MATH, SCIENCE AND SOCIAL STUDIES. WHILE NURTURING CURIOSITY, CREATIVITY AND IMAGINATION, WE WILL ENCOURAGE CHILDREN TO BECOME INDEPENDENT, RESPONSIBLE AND SELF-MOTIVATED LEARNERS. THROUGH A UNIQUELY PREPARED ENVIRONMENT AND THE USE OF SPECIAL DIDACTIC MATERIALS, THE STUDENTS PROGRESS THROUGH INDIVIDUAL EDUCATION PROGRAMS CENTERED ON THE FASCINATING MARINE ENVIRONMENT SURROUNDING THEIR COMMUNITY. IN ADDITION TO ITS STATED MISSION, OCEAN STUDIES CHARTER SCHOOL'S MAIN PRIORITIES ARE: -TO PROVIDE THE FAMILIES OF THE UPPER KEYS WITH A BOARDER ACCELERATED-LEARNING EXPERIENCE THAN THAT AVAILABLE THROUGH THE TRADITIONAL PUBLIC SCHOOL SYSTEM FOR THEIR YOUNG CHILDREN. -IN A SMALL SCHOOL ENVIRONMENT, WITH A MAXIMUM OF 116 STUDENTS ENROLLED, TO PROMOTE ENHANCED ACADEMIC SUCCESS AND FINANCIAL EFFICIENCY BY ALIGNING RESPONSIBILITY AND ACCOUNTABILITY. -MEET HIGH STANDARDS OF READING AND MATHEMATICS PERFORMANCE USING MONTESSORI METHODS, THE SINGAPORE MATH CURRICULUM, THE SPA READING COMPREHENSION PROGRAM, AND A VARIETY OF INNOVATIVE PHONICS-BASED LEARNING MATERIALS, WHICH ACCELERATE READING SKILL DEVELOPMENT. -EXPAND THE CAPACITY OF THE PUBLIC SCHOOL SYSTEM WITH AN ALTERNATIVE PROGRAM AND PROVIDE PROFESSIONAL OPPORTUNITIES FOR HIGHLY-QUALIFIED FLORIDA CERTIFIED TEACHERS TO EXPAND THEIR SKILLS LEARNING FROM TIME-TESTED MONTESSORI LESSON PLANS AND METHODS OF INDIVIDUALIZED TEACHING. -PROVIDE AN ENHANCED OCEAN SCIENCE CURRICULUM, INTRODUCING STUDENTS TO AN IN-DEPTH STUDY OF OUR LOCAL MARINE ENVIRONMENT AND THE WONDERS OF NATURE AROUND US. -PROVIDE LOW-PERFORMING STUDENTS AND STRUGGLING READERS WITH DAILY ONE-ON-ONE LESSONS AND ENCHANCED PHONIC AND SIGHT-READING MATERIALS AND TECHNIQUES, AS WELL AS INDIVIDUAL MATERIALS TO BOOST VOCABULARY DEVELOPMENT. -ASSESS AND MONITOR THE PROGRESS OF EACH INDIVIDUAL STUDENT, MEASURING LEARNING OUTCOME THROUGH STANDARDIZED PROFICIENCY TESTING PROPOSAL AND ASSESSMENT TOOLS. -KEEP PARENTS REGULARLY INFORMED OF THE RESULTS OF INITIAL SCREEING AND END OF YEAR FOLLOW-UP SCREENINGS OF READING PROGRESS AS WELL AS RESULTS OF STANDARDIZED ACHIEVEMENT TESTING AS RECOMMENDED BY THE SCHOOL DISTRICT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE COMPLETED FORM 990 IS PRESENTED TO THE BOARD OF DIRECTORS AND THE PRINCIPAL AFTER THEY HAVE REVIEWED THE FORM 990, AN OFFICER SIGNS THE RETURN AND IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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ReturnHeader/BuildTS02017-02-10 21:41:12Z
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0VERDEJA DE ARMAS & TRUJILLO LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0255 ALHAMBRA CIR STE 560
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CORAL GABLES
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ReturnHeader/PreparerPersonGrp/PreparationDt02017-04-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ALEJANDRO TRUJILLO
ReturnHeader/ReturnTs02017-04-13T17:29:52+00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

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