Civic Intelligence

Ocean Studies Charter School Inc.

990 • Fiscal year 2018 • EIN 27-0677326

Jul 01, 2017 to Jun 30, 2018 • Filed on Feb 22, 2019

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

64th percentile

0.20x

Higher debt load relative to assets than 64% of similar nonprofits.

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

Liabilities / Revenue

45th percentile

0.07x

Higher debt load relative to revenue than 45% of similar nonprofits.

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

Net Margin

76th percentile

18%

Higher net margin than 76% 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

95th percentile

95%

Faster asset growth than 95% of similar nonprofits.

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

Revenue Growth

80th percentile

27%

Faster revenue growth than 80% of similar nonprofits.

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

Assets

Up

$524,714

Up $255,006 (+95%) from 2017

Net Assets

Up

$418,844

Up $257,832 (+160%) from 2017

Liabilities

Down

$105,870

Down $2,826 (-2.6%) from 2017

Revenue

Up

$1,415,421

Up $304,168 (+27%) from 2017

Expenses

Up

$1,157,589

Up $89,154 (+8.3%) from 2017

Net Income

Up

$257,832

Up $215,014 (+502%) from 2017

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

2018

Assets$524,714
Liabilities$105,870
Net Assets$418,844

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

2018

Revenue$1,415,421
Expenses$1,157,589
Net Income$257,832
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Feb 22, 2019
Return Version
2017v2.3
Gross Receipts
$1,422,478
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$157,119$406,924▲ $249,805
Land, Buildings, and Equipment, Net$94,643$86,995▼ $7,648
Prepaid Expenses and Deferred Charges$13,598$9,107▼ $4,491
Accounts Receivable$4,348$1,688▼ $2,660
Total Assets$269,708$524,714▲ $255,006
Other Assets Total-$20,000-
Liabilities
Other Liabilities$63,649$78,489▲ $14,840
Mortgage Notes Payable Secured by Investment Property$29,335$16,633▼ $12,702
Deferred Revenue-$10,636-
Accounts Payable and Accrued Expenses$15,712$112▼ $15,600
Total Liabilities$108,696$105,870▼ $2,826
Net Assets / Fund Balance
Unrestricted Net Assets$161,012$418,844▲ $257,832
Total Net Assets Fund Balance$161,012$418,844▲ $257,832
Total Liabilities and Net Assets / Fund Balance$269,708$524,714▲ $255,006

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$65,665$29,222$94,887
Other Land Buildings$21,330$24,520$45,850
Equipment-$9,377$9,377
Compensation and Service Providers

Board Members and Trustees

NameTitle
David ThompsonPresident
Ariel PoholekDirector
Kate BanickDirector
Trisha WoodsPrincipal
Laura BrooksSecretary
Beth KaminsteinTreasurer
Raymond BonacheaVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$1,308,909
Program Service Revenue
$14,254
Investment Income
$1,066
Other Revenue
$91,192
Change in Net Assets
$257,832

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,415,421
Revenue Not Reported on Form 990
$7,057
Total Revenue per Audited Statements
$1,422,478
Total Revenue per Form 990
$1,415,421
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$717,509
Other Expenses$440,080
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$547,725--$547,725
Occupancy$196,767$34,907-$231,674
Office Expenses$81,803--$81,803
Current Officers, Directors, Trustees, and Key Employees$70,707--$70,707
Fees for Services Other$56,363--$56,363
Other Employee Benefits$51,833--$51,833
Payroll Taxes$47,244--$47,244
Other Expenses-$33,027-$33,027
Travel-$19,884-$19,884
Depreciation Depletion$14,730$2,599-$17,329
Total Functional Expenses$1,067,172$90,417$0$1,157,589

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,164,646
Expenses per Audited Statements$1,157,589
Total Expenses per Form 990$1,157,589
Expenses Not Reported on Form 990$7,057
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$10,266
Fundraising Direct Expenses$6,015
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$78,489
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
Trisha Woods
Title
Principal
Phone
3058527700
Signed
2019-02-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Trisha Woods
Formed
2009
Legal Domicile
Fl
Voting Board Members
6
Independent Board Members
6
Employees
22
Volunteers
50

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.

Form 990, Page 2, Part III, Line 4A

Amazing playground built for our students. Our students now have a space where they can play, use their imaginations, and built their gross motor skills.

Form 990, Part XI, Line 9

Special event expenses 6,015 disposal of fixed assets 1,042 special event expenses -6,015 disposal of fixed assets -1,042

Financial Statement Notes

Schedule D, Page 3, Part X

The organization has adopted the provisions of asc no 740, "accounting for uncertainty in income taxes" ("asc no 740"). Asc 740 required that the impact of tax positions to be recognized in the financial statements if they are more likely than not of being sustained upon examination. Accordingly, no provision for income taxes is made in the financial statements. At 6/30/18, there were no uncertain tax positions. The organization files tax returns with us federal and other tax authorities for which statue limitations may go back to the year ended 2015.

Schedule D, Page 4, Part XI, Line 2D

Special event expenses 6,015 disposal of fixed assets 1,042

Schedule D, Page 4, Part XII, Line 2D

Special event expenses 6,015 disposal of fixed assets 1,042

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IRS990/Desc0DESPITE THE SETBACKS FROM HURRICANE IRMA, LAST YEAR WAS A YEAR FOR GROWTH. WE OVERCAME DAMAGE FROM THE STORM, SCHOOL CANCELLATIONS AND THE EMOTIONAL TOLL THAT THE STORM TOOK ON BOTH STUDENTS AND STAFFS. NEW CONCEPTS AND IDEAS WERE IMPLEMENTED, SUCH AS PROJECT BASED LEARNING, FLEXIBLE SEATING, AND NEW CURRICULUM. PBL IS CROSS-CURRICULAR, INCORPORATING STANDARDS FROM ALL SUBJECTS. THE STUDENTS PARTICIPATED IN A PROJECT FOCUSING ON THE HURRICANE AND ON HOW MANGROVES PROTECT OUR LAND FROM DAMAGE. EXPERTS FROM THE FLORIDA FISH AND WILDLIFE CONSERVATION COMMISSION, THE FLORIDA KEYS ELECTRIC COOPERATIVE, AND MONROE COUNTY WORKED WITH THE STUDENTS TO PROVIDE INFORMATION FOR THE PROJECT. WE RECEIVED A GRANT FROM KABOOM AND WITH THE MIAMI DOLPHINS FOUNDATION AS A VERY GENEROUS DONOR, WE WERE ABLE TO HAVE AN AMAZING PLAYGROUND BUILT FOR OUR STUDENTS. OUR STUDENTS NOW HAVE A SPACE WHERE THEY CAN PLAY, USE THEIR IMAGINATIONS, AND BUILT THEIR GROSS MOTOR SKILLS.
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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 ORGANIZATION HAS ADOPTED THE PROVISIONS OF ASC NO 740, "ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES" ("ASC NO 740"). ASC 740 REQUIRED THAT THE IMPACT OF TAX POSITIONS TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS IF THEY ARE MORE LIKELY THAN NOT OF BEING SUSTAINED UPON EXAMINATION. ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS MADE IN THE FINANCIAL STATEMENTS. AT 6/30/18, THERE WERE NO UNCERTAIN TAX POSITIONS. THE ORGANIZATION FILES TAX RETURNS WITH US FEDERAL AND OTHER TAX AUTHORITIES FOR WHICH STATUE LIMITATIONS MAY GO BACK TO THE YEAR ENDED 2015.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1SPECIAL EVENT EXPENSES 6,015 DISPOSAL OF FIXED ASSETS 1,042
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2SPECIAL EVENT EXPENSES 6,015 DISPOSAL OF FIXED ASSETS 1,042
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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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/ExplanationTxt1AMAZING PLAYGROUND BUILT FOR OUR STUDENTS. OUR STUDENTS NOW HAVE A SPACE WHERE THEY CAN PLAY, USE THEIR IMAGINATIONS, AND BUILT THEIR GROSS MOTOR SKILLS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 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/ExplanationTxt3GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4SPECIAL EVENT EXPENSES 6,015 DISPOSAL OF FIXED ASSETS 1,042 SPECIAL EVENT EXPENSES -6,015 DISPOSAL OF FIXED ASSETS -1,042
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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