Civic Intelligence

Pivot Education Inc.

990 • Fiscal year 2019 • EIN 27-1680083

Jul 01, 2018 to Jun 30, 2019 • Filed on Jul 12, 2020

3020 Falkenburg RoadRiverview, FL 33578

(239) 243-8266

Siviq Scores

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

Liabilities / Assets

100th percentile

5.58x

Higher debt load relative to assets than 100% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

79th percentile

0.50x

Higher debt load relative to revenue than 79% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

48th percentile

2.5%

Higher net margin than 48% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

1st percentile

-55%

Faster asset growth than 1% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

63rd percentile

11%

Faster revenue growth than 63% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Down

$184,553

Down $224,948 (-55%) from 2018

Net Assets

Up

-$844,666

Up $51,009 (+5.7%) from 2018

Liabilities

Down

$1,029,219

Down $275,957 (-21%) from 2018

Revenue

Up

$2,068,661

Up $201,212 (+11%) from 2018

Expenses

Down

$2,017,652

Down $383,470 (-16%) from 2018

Net Income

Up

$51,009

Up $584,682 (+110%) from 2018

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0-$2.0MAssets 2014: $4,134,351Liabilities 2014: $1,630,399Net Assets 2014: $2,503,9522014Assets 2015: $2,127,968Liabilities 2015: $281,123Net Assets 2015: $1,846,8452015Assets 2016: $1,393,911Liabilities 2016: $390,313Net Assets 2016: $1,003,5982016Assets 2017: $840,617Liabilities 2017: $1,202,619Net Assets 2017: -$362,0022017Assets 2018: $409,501Liabilities 2018: $1,305,176Net Assets 2018: -$895,6752018Assets 2019: $184,553Liabilities 2019: $1,029,219Net Assets 2019: -$844,6662019Assets 2020: $193,300Liabilities 2020: $264,733Net Assets 2020: -$71,4332020Assets 2021: $325,369Liabilities 2021: $274,162Net Assets 2021: $51,2072021Assets 2022: $1,632,460Liabilities 2022: $1,500,696Net Assets 2022: $131,7642022Assets 2023: $1,486,350Liabilities 2023: $1,343,651Net Assets 2023: $142,6992023Assets 2024: $1,156,257Liabilities 2024: $1,121,717Net Assets 2024: $34,5402024

Highlighted filing

2019

Assets$184,553
Liabilities$1,029,219
Net Assets-$844,666

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2014: $7,995,176Expenses 2014: $5,040,972Net Income 2014: $2,954,2042014Revenue 2015: $5,336,166Expenses 2015: $5,628,683Net Income 2015: -$292,5172015Revenue 2016: $4,111,812Expenses 2016: $5,159,699Net Income 2016: -$1,047,8872016Revenue 2017: $3,853,225Expenses 2017: $5,037,373Net Income 2017: -$1,184,1482017Revenue 2018: $1,867,449Expenses 2018: $2,401,122Net Income 2018: -$533,6732018Revenue 2019: $2,068,661Expenses 2019: $2,017,652Net Income 2019: $51,0092019Revenue 2020: $1,821,811Expenses 2020: $1,488,088Net Income 2020: $333,7232020Revenue 2021: $1,758,615Expenses 2021: $1,636,454Net Income 2021: $122,1612021Revenue 2022: $1,905,098Expenses 2022: $1,824,541Net Income 2022: $80,5572022Revenue 2023: $2,225,683Expenses 2023: $2,214,748Net Income 2023: $10,9352023Revenue 2024: $1,948,476Expenses 2024: $2,056,635Net Income 2024: -$108,1592024

Highlighted filing

2019

Revenue$2,068,661
Expenses$2,017,652
Net Income$51,009
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jul 12, 2020
Return Version
2018v3.2
Gross Receipts
$2,068,661
Mission and Program Overview

Mission

To operate public charter schools in the state of florida.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$106,434$46,429▼ $60,005
Cash and Non-Interest-Bearing Accounts$183,410$42,119▼ $141,291
Land, Buildings, and Equipment, Net$80,888$39,139▼ $41,749
Prepaid Expenses and Deferred Charges$9,145$31,532▲ $22,387
Accounts Receivable$4,290--
Rtn Earn Endowment Incm Other Fnds$-895,675$-844,666▲ $51,009
Total Assets$409,501$184,553▼ $224,948
Other Assets Total$25,334$25,334→ $0
Liabilities
Other Liabilities$1,002,333$991,669▼ $10,664
Accounts Payable and Accrued Expenses$302,843$26,187▼ $276,656
Deferred Revenue-$11,363-
Total Liabilities$1,305,176$1,029,219▼ $275,957
Net Assets / Fund Balance
Total Net Assets Fund Balance$-895,675$-844,666▲ $51,009
Total Liabilities and Net Assets / Fund Balance$409,501$184,553▼ $224,948

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$16,527$578,257-
Leasehold Improvements$22,612$262,530-
Other Assets Org$25,334--
Compensation and Service Providers

Board Members and Trustees

NameTitle
David YarboroughDirector
James GuzelowDirector
Jeanette GilmoreParent Liais
Revenue and Support

Revenue Composition

Contributions and Grants
$46,495
Program Service Revenue
$1,815,410
Investment Income
$0
Other Revenue
$206,756
Change in Net Assets
$51,009

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,068,661
Total Revenue per Audited Statements
$2,068,661
Total Revenue per Form 990
$2,068,661
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,118,926
Other Expenses$898,726
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$702,017$175,504-$877,521
Occupancy$223,004$55,750-$278,754
Other Employee Benefits$132,530$33,132-$165,662
Fees for Services Management$105,808--$105,808
All Other Expenses$86,685$10,330-$97,015
Payroll Taxes$60,595$15,148-$75,743
Depreciation Depletion$53,560$13,390-$66,950
Other Expenses$26,808$6,702-$33,510
Office Expenses$19,405$4,785-$24,190
Insurance$14,018$3,505-$17,523
Fees for Services Legal$7,508$1,877-$9,385
Fees for Services Accounting$6,842$1,710-$8,552
Fees for Services Other$3,987$997-$4,984
Conferences and Meetings$1,075$269-$1,344
Advertising$439$110-$549
Travel$230$58-$288
Total Functional Expenses$1,682,384$335,268$0$2,017,652

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,017,652
Total Expenses per Audited Statements$2,017,652
Total Expenses per Form 990$2,017,652
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
Due To/from Pivot Related$725,702
Lutheran Services Florida, Inc$265,967
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

Governance Explanations

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

The form 990 is prepared by an independent cpa firm and is provided to management or board of governance for review.

Form 990, Page 6, Part 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.

Form 990, Page 6, Part VI, Line 15B

The principal is paid in accordance with the school district's pay scale.

Form 990, Page 6, Part VI, Line 18

Documents available upon request.

Form 990, Page 6, Part VI, Line 19

Documents available upon request.

Filing and Contact Details

Filer

Filer Name
Pivot Education Inc
EIN
27-1680083
Phone
2392438266
Address
3020 FALKENBURG ROAD, RIVERVIEW, FL 33578

Signing Officer

Name
Angela Weatherford Combs
Title
Registered Agent
Phone
2392438266
Signed
2020-07-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Angela Weatherford Combs
Formed
2011
Legal Domicile
Fl
Voting Board Members
4
Independent Board Members
4
Employees
0

Preparer

Firm
Mccrady & Associates Pllc
Address
107 WATER OAK LN, ALTAMONTE SPRINGS, FL 32714
Preparer
Stacy Mccrady
Phone
4079604429
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

The school qualifies as a tax-exempt organization under internal revenue code section 501(c)(3), and is therefore, exempt from income taxes. Accordingly, no tax provisions have been made requiring disclosure in the related notes to the financial statements. The school's income tax position for the tax year 2017, 2016 and 2015 are subject to examination by tax authorities, and may change upon examination.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER INTERNAL REVENUE CODE SECTION 501(C)(3), AND IS THEREFORE, EXEMPT FROM INCOME TAXES. ACCORDINGLY, NO TAX PROVISIONS HAVE BEEN MADE REQUIRING DISCLOSURE IN THE RELATED NOTES TO THE FINANCIAL STATEMENTS. THE SCHOOL'S INCOME TAX POSITION FOR THE TAX YEAR 2017, 2016 AND 2015 ARE SUBJECT TO EXAMINATION BY TAX AUTHORITIES, AND MAY CHANGE UPON EXAMINATION.
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IRS990ScheduleD/TotalBookValueOtherAssetsAmt025334
IRS990ScheduleD/TotalExpensesPerForm990Amt02017652
IRS990ScheduleD/TotalLiabilityAmt0991669
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IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0REVENUES ARE RECEIVED FROM THE FLORIDA DEPARTMENT OF EDUCATION UNDER THE FLORIDA EDUCATION FINANCE PROGRAM. THE AMOUNT RECEIVED IS BASED ON THE NUMBER OF WEIGHTED FULL TIME EQUIVALENT STUDENTS REPORTED BY THE SCHOOL DURING THE SURVEY PERIOD. THIS AMOUNT IS INCLUDED IN PROGRAM SERVICE REVENUE.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 6
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS PREPARED BY AN INDEPENDENT CPA FIRM AND IS PROVIDED TO MANAGEMENT OR BOARD OF GOVERNANCE FOR REVIEW.
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/ExplanationTxt3DOCUMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DOCUMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/AssetSaleToOtherOrgInd0false
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0SPONSOR
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0901 E KENNEDY BLVD
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01682384
IRS990/TotalFunctionalExpensesGrp/TotalAmt02017652
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt01029219
IRS990/TotalLiabilitiesGrp/BOYAmt01305176
IRS990/TotalLiabilitiesGrp/EOYAmt01029219
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-844666
IRS990/TotalProgramServiceExpensesAmt01682384
IRS990/TotalProgramServiceRevenueAmt01815410
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02022166
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02068661
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0409501
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0184553
IRS990/TravelGrp/ManagementAndGeneralAmt058
IRS990/TravelGrp/ProgramServicesAmt0230
IRS990/TravelGrp/TotalAmt0288
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt03020 SOUTH FALKENBURG ROAD
IRS990/USAddress/CityNm0RIVERVIEW
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ReturnHeader/BuildTS02020-09-22 18:59:49Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0ANGELA WEATHERFORD COMBS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0REGISTERED AGENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02392438266
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-07-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PIVOT EDUCATION INC
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ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt052.37.240.203
ReturnHeader/FilingSecurityInformation/IPDt02020-07-12
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm014:06:15
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0822180420
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MCCRADY & ASSOCIATES PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0107 WATER OAK LN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ALTAMONTE SPRINGS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
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