Civic Intelligence

Polk Pre-Collegiate Academy Inc

990 • Fiscal year 2019 • EIN 27-4846294

Jul 01, 2018 to Jun 30, 2019 • Filed on Feb 07, 2020

Organization Profilewww.ppcacademy.net
5316 Berkley RdAuburndale, FL 33823

(863) 984-2443

Siviq Scores

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

Liabilities / Assets

92nd percentile

0.86x

Higher debt load relative to assets than 92% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

89th percentile

0.78x

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

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Net Margin

55th percentile

5.4%

Higher net margin than 55% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

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

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Asset Growth

68th percentile

13%

Faster asset growth than 68% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

60th percentile

9.5%

Faster revenue growth than 60% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Up

$860,822

Up $95,925 (+13%) from 2018

Net Assets

Up

$117,248

Up $51,758 (+79%) from 2018

Liabilities

Up

$743,574

Up $44,167 (+6.3%) from 2018

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin55th percentile

Revenue

Up

$951,095

Up $82,491 (+9.5%) from 2018

Expenses

Up

$899,337

Up $30,304 (+3.5%) from 2018

Net Income

Up

$51,758

Up $52,187 (+12165%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth68th percentile

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

$1.5M$1.0M$500K$0Assets 2012: $140,806Liabilities 2012: $36,531Net Assets 2012: $104,2752012Assets 2013: $279,753Liabilities 2013: $140,578Net Assets 2013: $139,1752013Assets 2014: $402,079Liabilities 2014: $191,564Net Assets 2014: $210,5152014Assets 2015: $474,509Liabilities 2015: $445,651Net Assets 2015: $28,8582015Assets 2016: $562,950Liabilities 2016: $538,463Net Assets 2016: $24,4872016Assets 2017: $726,219Liabilities 2017: $660,300Net Assets 2017: $65,9192017Assets 2018: $764,897Liabilities 2018: $699,407Net Assets 2018: $65,4902018Assets 2019: $860,822Liabilities 2019: $743,574Net Assets 2019: $117,2482019Assets 2020: $1,031,364Liabilities 2020: $808,615Net Assets 2020: $222,7492020Assets 2021: $1,267,892Liabilities 2021: $953,325Net Assets 2021: $314,5672021Assets 2022: $1,097,166Liabilities 2022: $697,529Net Assets 2022: $399,6372022

Highlighted filing

2019

Assets$860,822
Liabilities$743,574
Net Assets$117,248
Open 2019 Filing

Operations Trend

Revenue Growth60th percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2012: $165,0642012Expenses 2013: $378,7562013Revenue 2014: $670,430Expenses 2014: $599,090Net Income 2014: $71,3402014Revenue 2015: $718,691Expenses 2015: $723,185Net Income 2015: -$4,4942015Revenue 2016: $712,171Expenses 2016: $716,542Net Income 2016: -$4,3712016Revenue 2017: $821,566Expenses 2017: $780,134Net Income 2017: $41,4322017Revenue 2018: $868,604Expenses 2018: $869,033Net Income 2018: -$4292018Revenue 2019: $951,095Expenses 2019: $899,337Net Income 2019: $51,7582019Revenue 2020: $1,095,777Expenses 2020: $990,276Net Income 2020: $105,5012020Revenue 2021: $1,197,537Expenses 2021: $1,105,719Net Income 2021: $91,8182021Revenue 2022: $1,221,061Expenses 2022: $1,135,991Net Income 2022: $85,0702022

Highlighted filing

2019

Revenue$951,095
Expenses$899,337
Net Income$51,758
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Feb 7, 2020
Return Version
2018v3.1
Gross Receipts
$951,095
Mission and Program Overview

Mission

To improve the college readiness

To improve the college readiness level of students through rigorous and relevant college preparatory academics.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$599,952$686,953▲ $87,001
Rtn Earn Endowment Incm Other Fnds$59,253$115,792▲ $56,539
Prepaid Expenses and Deferred Charges$13,778$26,884▲ $13,106
Accounts Receivable$5,690--
Pledges and Grants Receivable-$5,469-
Land, Buildings, and Equipment, Net$6,237$1,456▼ $4,781
Pd in Cap Srpls Land Bldg Eqp Fund$6,237$1,456▼ $4,781
Total Assets$764,897$860,822▲ $95,925
Other Assets Total$139,240$140,060▲ $820
Liabilities
Other Liabilities$333,132$354,842▲ $21,710
Accounts Payable and Accrued Expenses$310,982$329,171▲ $18,189
Deferred Revenue$55,293$59,561▲ $4,268
Total Liabilities$699,407$743,574▲ $44,167
Net Assets / Fund Balance
Total Net Assets Fund Balance$65,490$117,248▲ $51,758
Total Liabilities and Net Assets / Fund Balance$764,897$860,822▲ $95,925

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,456$94,648-
Other Assets Org$140,060--
Compensation and Service Providers
Top Officer Pay50th percentile

Board Members and Trustees

NameTitle
Henry MansonBoard Chair
Burke ThompsonVice Chair
Cotina OwensDirector
Samantha MeadowsDirector
Allison WaldronMember
Cathy CarverPrincipal
Taylor ShookSecretary
Rob RoyTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
-Contracted Services5316 BERKLEY ROAD, Auburndale, FL 33823$520,787
Berkley Accelerated Middle School INCFacility Lease5316 BERKLEY ROAD, Auburndale, FL 33823$171,106
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$867,383
Investment Income
$0
Other Revenue
$83,712
Change in Net Assets
$51,758

Audited Revenue Reconciliation

Revenue per Audited Statements
$951,095
Total Revenue per Audited Statements
$951,095
Total Revenue per Form 990
$951,095
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$899,337
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$294,033$65,117$0$359,150
Other Expenses$0$9,315$0$9,315
Depreciation Depletion$4,781$0$0$4,781
Total Functional Expenses$824,905$74,432$0$899,337

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$899,337
Total Expenses per Audited Statements$899,337
Total Expenses per Form 990$899,337
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
Net Pension Liability$323,525
Deferred Inflow Related to Pensions$31,317
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
Filing and Contact Details

Filer

Filer Name
Polk Pre-collegiate Academy Inc
EIN
27-4846294
Phone
8639842443
Address
5316 BERKLEY RD, AUBURNDALE, FL 33823

Signing Officer

Name
Cathy Carver
Title
Principal
Phone
8639842443
Signed
2020-02-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cathy Carver
Formed
2011
Legal Domicile
Fl
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
10

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

Pt XI

“The School participates in the Florida Retirement System (FRS) defined benefit pension plan and the Health Insurance Subsidy (HIS) defined benefit plan administered by Florida Division of Retirement. As a participating employer, the School implemented GASB Statement No. 68, Accounting and Financial Reporting for Pensions, which requires employers participating in cost-sharing multiple-employer defined benefit pension plans to report the employers proportionate share of the net pension liabilities and related pension amounts of the defined benefit pension plans. To account for this accounting change, the beginning net position of $210,515, as previously reported, has been decreased by $177,163 which represents the Schools proportionate share of the net pension liabilities at July 1, 2014, to a beginning net position of $33,352.”

Form 990, Part IX, Line 24E

“School administration 130234. 65117. 65117. 0.”

Form 990, Part IX, Line 24E

“Fiscal services 15970. 15970. 0. 0.”

Form 990, Part IX, Line 24E

“Central services 362. 362. 0. 0.”

Form 990, Part IX, Line 24E

“Pupil transportation 24374. 24374. 0. 0.”

Form 990, Part IX, Line 24E

“Operation of plant 180735. 180735. 0. 0.”

Form 990, Part IX, Line 24E

“Facilities 7475. 7475. 0. 0.”

Financial Statement Notes

Pt X, Line 2

“The School is exempt from Federal tax under Section 501(c)(3) of the Internal Revenue Code. Accordingly, no provision for income taxes has been included in the accompanying financial statements. Additionally, no uncertain tax positions have been made requiring disclosure in the related note to financial statements. The Schools income tax returns for the past three years are subject to examination by tax authorities and may change upon examination.”

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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1323525
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEFERRED INFLOW RELATED TO PENSIONS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1NET PENSION LIABILITY
IRS990ScheduleD/RevenueSubtotalAmt0951095
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The School is exempt from Federal tax under Section 501(c)(3) of the Internal Revenue Code. Accordingly, no provision for income taxes has been included in the accompanying financial statements. Additionally, no uncertain tax positions have been made requiring disclosure in the related note to financial statements. The Schools income tax returns for the past three years are subject to examination by tax authorities and may change upon examination.
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IRS990ScheduleD/TotalBookValueOtherAssetsAmt0140060
IRS990ScheduleD/TotalExpensesPerForm990Amt0899337
IRS990ScheduleD/TotalLiabilityAmt0354842
IRS990ScheduleD/TotalRevenuePerForm990Amt0951095
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IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
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IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
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IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0RECEIVES GRANTS THROUGH THE FLORIDA DEPT OF EDUCATION
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION HAS INCLUDED A NON-DISCRIMINATION NOTICE IN THE SCHOOL NEWSPAPER AS WELL AS IN THEIR PUBLIC CHARTER. NA
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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 IS PAID IN ACCORDANCE WITH THE SCHOOL DISTRICT'S PAY SCALE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The School participates in the Florida Retirement System (FRS) defined benefit pension plan and the Health Insurance Subsidy (HIS) defined benefit plan administered by Florida Division of Retirement. As a participating employer, the School implemented GASB Statement No. 68, Accounting and Financial Reporting for Pensions, which requires employers participating in cost-sharing multiple-employer defined benefit pension plans to report the employers proportionate share of the net pension liabilities and related pension amounts of the defined benefit pension plans. To account for this accounting change, the beginning net position of $210,515, as previously reported, has been decreased by $177,163 which represents the Schools proportionate share of the net pension liabilities at July 1, 2014, to a beginning net position of $33,352.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4SCHOOL ADMINISTRATION 130234. 65117. 65117. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5FISCAL SERVICES 15970. 15970. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6CENTRAL SERVICES 362. 362. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7PUPIL TRANSPORTATION 24374. 24374. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8OPERATION OF PLANT 180735. 180735. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9FACILITIES 7475. 7475. 0. 0.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt XI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9Form 990, Part IX, Line 24e
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IRS990/TaxableDistributionsInd0false
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IRS990/TotalFunctionalExpensesGrp/TotalAmt0899337
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0951095
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0860822
IRS990/TransactionWithControlEntInd0false
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt05316 BERKLEY RD
IRS990/USAddress/CityNm0AUBURNDALE
IRS990/USAddress/StateAbbreviationCd0FL
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IRS990/WebsiteAddressTxt0www.ppcacademy.net
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0CATHY CARVER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRINCIPAL
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ReturnHeader/BusinessOfficerGrp/SignatureDt02020-02-07
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$860,822
Liabilities
$743,574
Net assets
$117,248
Revenue
$951,095
Expenses
$899,337
Net income
$51,758
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.10$0.70$0.40$1.22$1.14$0.09
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.27$0.95$0.31$1.20$1.11$0.09
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.03$0.81$0.22$1.10$0.99$0.11
2019Detailed filing. Detailed filing data is available for this year.$0.86$0.74$0.12$0.95$0.90$0.05
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.76$0.70$0.07$0.87$0.87$0.00
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.73$0.66$0.07$0.82$0.78$0.04
2016Detailed filing. Detailed filing data is available for this year.$0.56$0.54$0.02$0.71$0.72$0.00
2015Detailed filing. Detailed filing data is available for this year.$0.47$0.45$0.03$0.72$0.72$0.00
2014Detailed filing. Detailed filing data is available for this year.$0.40$0.19$0.21$0.67$0.60$0.07
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.28$0.14$0.14$0.38
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.14$0.04$0.10$0.17