Civic Intelligence

Pivot Education Inc.

990 • Fiscal year 2023 • EIN 27-1680083

Jul 01, 2022 to Jun 30, 2023 • Filed on May 03, 2024

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

93rd percentile

0.90x

Higher debt load relative to assets than 93% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

82nd percentile

0.60x

Higher debt load relative to revenue than 82% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

41st percentile

0.5%

Higher net margin than 41% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

14th percentile

-9.0%

Faster asset growth than 14% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

64th percentile

17%

Faster revenue growth than 64% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Down

$1,486,350

Down $146,110 (-9.0%) from 2022

Net Assets

Up

$142,699

Up $10,935 (+8.3%) from 2022

Liabilities

Down

$1,343,651

Down $157,045 (-10%) from 2022

Revenue

Up

$2,225,683

Up $320,585 (+17%) from 2022

Expenses

Up

$2,214,748

Up $390,207 (+21%) from 2022

Net Income

Down

$10,935

Down $69,622 (-86%) from 2022

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

2023

Assets$1,486,350
Liabilities$1,343,651
Net Assets$142,699

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

2023

Revenue$2,225,683
Expenses$2,214,748
Net Income$10,935
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 3, 2024
Return Version
2022v5.0
Gross Receipts
$2,225,683
Mission and Program Overview

Mission

To operate public charter schools in the state of florida.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$268,543$147,307▼ $121,236
Other Notes and Loans Receivable, Net$1,050$105,079▲ $104,029
Land, Buildings, and Equipment, Net$7,852$90,548▲ $82,696
Pd in Cap Srpls Land Bldg Eqp Fund$7,852$90,548▲ $82,696
Rtn Earn Endowment Incm Other Fnds$123,912$52,151▼ $71,761
Prepaid Expenses and Deferred Charges$30,813$35,698▲ $4,885
Total Assets$1,632,460$1,486,350▼ $146,110
Other Assets Total$1,324,202$1,107,718▼ $216,484
Liabilities
Other Liabilities$1,454,499$1,216,376▼ $238,123
Accounts Payable and Accrued Expenses$46,197$127,275▲ $81,078
Total Liabilities$1,500,696$1,343,651▼ $157,045
Net Assets / Fund Balance
Total Net Assets Fund Balance$131,764$142,699▲ $10,935
Total Liabilities and Net Assets / Fund Balance$1,632,460$1,486,350▼ $146,110

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$92,933$613,687-
Leasehold Improvements$-2,385$287,527-
Other Assets Org$25,334--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Dr Chris CardBoard Chairp
David YarboroughBoard Member
Dr Don DixonBoard Member
James GuzelowBoard Member
Lisa GalbraithBoard Member
Andrea PreziosiParent Liais
Angela Weatherford CombsReg Agent/ed
Revenue and Support

Revenue Composition

Contributions and Grants
$303,282
Program Service Revenue
$1,912,876
Investment Income
$0
Other Revenue
$9,525
Change in Net Assets
$10,935

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,225,683
Total Revenue per Audited Statements
$2,225,683
Total Revenue per Form 990
$2,225,683
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,296,697
Other Expenses$918,051
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,136,680$9,745-$1,146,425
Depreciation Depletion$183,442$45,860-$229,302
Occupancy$135,200$33,800-$169,000
Fees for Services Management$116,071--$116,071
Payroll Taxes$78,028$133-$78,161
Other Employee Benefits$72,111--$72,111
Interest$32,134$8,033-$40,167
Office Expenses$31,439$72-$31,511
Information Technology$19,277$4,819-$24,096
Insurance$17,670$4,417-$22,087
All Other Expenses$14,161$1,208-$15,369
Fees for Services Other$9,936--$9,936
Fees for Services Accounting$7,000$1,750-$8,750
Other Expenses$7,368$352-$7,368
Total Functional Expenses$2,104,559$110,189$0$2,214,748

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,214,748
Total Expenses per Audited Statements$2,214,748
Total Expenses per Form 990$2,214,748
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
Lease Obligations$1,123,096
Lutheran Services Florida, Inc$93,280
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 35% controlled entity
No
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
Yes
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
Reg Agent/educ Director
Phone
2392438266
Signed
2024-05-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Angela Weatherford Combs
Formed
2011
Legal Domicile
Fl
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
2

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 provision has been made in the accompanying financial statements. Additionally, no uncertain tax positions have been made requiring disclosure in the related notes to the financial statements. The school's income tax position for the past three tax year are subject to examination by tax authorities, and may change upon examination.

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IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0-2385
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0287527
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt0285142
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt01082384
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt125334
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RIGHT TO USE ASSET
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01123096
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt193280
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0LEASE OBLIGATIONS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1LUTHERAN SERVICES FLORIDA, INC
IRS990ScheduleD/RevenueSubtotalAmt02225683
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 PROVISION HAS BEEN MADE IN THE ACCOMPANYING FINANCIAL STATEMENTS. ADDITIONALLY, NO UNCERTAIN TAX POSITIONS HAVE BEEN MADE REQUIRING DISCLOSURE IN THE RELATED NOTES TO THE FINANCIAL STATEMENTS. THE SCHOOL'S INCOME TAX POSITION FOR THE PAST THREE TAX YEAR ARE SUBJECT TO EXAMINATION BY TAX AUTHORITIES, AND MAY CHANGE UPON EXAMINATION.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/TotalBookValueLandBuildingsAmt090548
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01107718
IRS990ScheduleD/TotalExpensesPerForm990Amt02214748
IRS990ScheduleD/TotalLiabilityAmt01216376
IRS990ScheduleD/TotalRevenuePerForm990Amt02225683
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02225683
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02214748
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IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
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
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION PUBLICIZED ITS RACIALLY NONDISCRIMINATORY POLICY THROUGH VARIOUS MEANS, INCLUDING NEWSPAPERS, GROUP PRESENTATIONS AND DIRECT MAILINGS.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1REVENUES 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 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 6
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
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/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0HILLSBOROUGH COUNTY SCHOOL BOARD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0FL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0SPONSOR
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt06
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0901 E KENNEDY BLVD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0TAMPA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0FL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd033602
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IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
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IRS990ScheduleR/TransferToOtherOrgInd0false
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IRS990/SubjectToProxyTaxInd0false
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01632460
IRS990/TotalAssetsEOYAmt01486350
IRS990/TotalAssetsGrp/BOYAmt01632460
IRS990/TotalAssetsGrp/EOYAmt01486350
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0303282
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0110189
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02104559
IRS990/TotalFunctionalExpensesGrp/TotalAmt02214748
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01500696
IRS990/TotalLiabilitiesEOYAmt01343651
IRS990/TotalLiabilitiesGrp/BOYAmt01500696
IRS990/TotalLiabilitiesGrp/EOYAmt01343651
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0131764
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0142699
IRS990/TotalProgramServiceExpensesAmt02104559
IRS990/TotalProgramServiceRevenueAmt01912876
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01922401
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02225683
IRS990/TotalVolunteersCnt02
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01632460
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01486350
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt03020 SOUTH FALKENBURG ROAD
IRS990/USAddress/CityNm0RIVERVIEW
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd033578
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.PIVOTTAMPA.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ANGELA WEATHERFORD COMBS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0REG AGENT/EDUC DIR
ReturnHeader/BusinessOfficerGrp/PhoneNum02392438266
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PIVOT EDUCATION INC
ReturnHeader/Filer/BusinessNameControlTxt0PIVO
ReturnHeader/Filer/EIN0271680083
ReturnHeader/Filer/PhoneNum02392438266
ReturnHeader/Filer/USAddress/AddressLine1Txt03020 FALKENBURG ROAD
ReturnHeader/Filer/USAddress/CityNm0RIVERVIEW
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL

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