Civic Intelligence

Pineapple Cove Classical Academy at West Melbourne

990 • Fiscal year 2023 • EIN 30-1006718

Jul 01, 2022 to Jun 30, 2023 • Filed on May 14, 2024

3455 Norfolk PkwyWest Melbourne, FL 32904

(321) 499-2585

Siviq Scores

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

Liabilities / Assets

96th percentile

1.11x

Higher debt load relative to assets than 96% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

91st percentile

2.75x

Higher debt load relative to revenue than 91% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Net Margin

25th percentile

-5.2%

Higher net margin than 25% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

14th percentile

$0

Higher top officer pay than 14% of similar nonprofits.

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

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Asset Growth

18th percentile

-3.3%

Faster asset growth than 18% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

50th percentile

5.4%

Faster revenue growth than 50% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Assets

Down

$21,605,981

Down $735,981 (-3.3%) from 2022

Net Assets

Down

-$2,461,301

Down $457,360 (-23%) from 2022

Liabilities

Down

$24,067,282

Down $278,621 (-1.1%) from 2022

Revenue

Up

$8,762,150

Up $451,402 (+5.4%) from 2022

Expenses

Up

$9,219,510

Up $426,714 (+4.9%) from 2022

Net Income

Up

-$457,360

Up $24,688 (+5.1%) from 2022

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0-$10MAssets 2020: $12,125,252Liabilities 2020: $14,029,083Net Assets 2020: -$1,903,8312020Assets 2021: $22,494,529Liabilities 2021: $24,275,426Net Assets 2021: -$1,780,8972021Assets 2022: $22,341,962Liabilities 2022: $24,345,903Net Assets 2022: -$2,003,9412022Assets 2023: $21,605,981Liabilities 2023: $24,067,282Net Assets 2023: -$2,461,3012023Assets 2024: $21,478,333Liabilities 2024: $24,153,873Net Assets 2024: -$2,675,5402024

Highlighted filing

2023

Assets$21,605,981
Liabilities$24,067,282
Net Assets-$2,461,301

Operations Trend

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

$15M$10M$5.0M$0-$5.0MRevenue 2020: $4,820,521Expenses 2020: $5,101,302Net Income 2020: -$280,7812020Revenue 2021: $6,377,842Expenses 2021: $6,195,243Net Income 2021: $182,5992021Revenue 2022: $8,310,748Expenses 2022: $8,792,796Net Income 2022: -$482,0482022Revenue 2023: $8,762,150Expenses 2023: $9,219,510Net Income 2023: -$457,3602023Revenue 2024: $10,532,567Expenses 2024: $10,746,806Net Income 2024: -$214,2392024

Highlighted filing

2023

Revenue$8,762,150
Expenses$9,219,510
Net Income-$457,360
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 14, 2024
Return Version
2022v5.0
Gross Receipts
$8,762,150
Mission and Program Overview

Mission

To develop graduates in mind and character through a classical, content- rich curriculum that emphasizes the principles of virtuous living, traditional learning, and civic responsibility. We are building intelligent, virtuous, american citizens.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$20,559,788$20,244,761▼ $315,027
Rtn Earn Endowment Incm Other Fnds$822,982$965,342▲ $142,360
Pledges and Grants Receivable$446,063$445,688▼ $375
Cash and Non-Interest-Bearing Accounts$774,417$266,934▼ $507,483
Intangible Assets$69,585$25,374▼ $44,211
Loans From Officers Directors-$25,316-
Prepaid Expenses and Deferred Charges$19,109$7,891▼ $11,218
Pd in Cap Srpls Land Bldg Eqp Fund$-2,826,923$-3,426,643▼ $599,720
Total Assets$22,341,962$21,605,981▼ $735,981
Other Assets Total$473,000$615,333▲ $142,333
Liabilities
Tax Exempt Bond Liabilities$23,154,787$23,671,462▲ $516,675
Accounts Payable and Accrued Expenses$572,233$306,447▼ $265,786
Other Liabilities$618,883$64,057▼ $554,826
Total Liabilities$24,345,903$24,067,282▼ $278,621
Net Assets / Fund Balance
Total Net Assets Fund Balance$-2,003,941$-2,461,301▼ $457,360
Total Liabilities and Net Assets / Fund Balance$22,341,962$21,605,981▼ $735,981

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$18,834,726$1,813,357$20,648,083
Land$950,000-$950,000
Compensation and Service Providers

Board Members and Trustees

NameTitle
Norda GordonPresident
Mike ContrerasBoard Member
Rebecca NagelBoard Member
Shakira GuiceBoard Member
Nicole SilvestriParent Liais
Angela SturmSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$7,902,021
Program Service Revenue
$846,620
Investment Income
$13,509
Other Revenue
$0
All Other Contributions
$34,337
Change in Net Assets
$-457,360

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,762,150
Total Revenue per Audited Statements
$8,762,150
Total Revenue per Form 990
$8,762,150
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,858,227
Other Expenses$4,361,283
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,414,331$829,677-$4,244,008
Interest-$1,569,854-$1,569,854
Depreciation Depletion-$669,995-$669,995
Fees for Services Other$119$522,816-$522,935
Payroll Taxes$257,690$64,112-$321,802
Other Employee Benefits$170,178$37,772-$207,950
Occupancy$76,349$129,959-$206,308
All Other Expenses$114,464$62,792-$177,256
Insurance-$106,824-$106,824
Other Expenses$97,684$119,044-$97,684
Pension Plan Contributions$66,973$17,494-$84,467
Travel$2,163$11,910-$14,073
Information Technology$5,368$7,155-$12,523
Total Functional Expenses$4,783,523$4,435,987$0$9,219,510

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$9,219,510
Total Expenses per Audited Statements$9,219,510
Total Expenses per Form 990$9,219,510
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees-$25,316-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Interst$64,057

Bond Issues

BondIssuerIssuedIssue PricePurpose
AWilmington Trust2021-02-18$6,460,000Construction of educational facilities
BWilmington Trust2021-02-18$3,828,500Construction of educational facilty

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A----
B----

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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 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.

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 15A

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

Form 990, Page 6, Part VI, Line 19

No documents available to the public

Filing and Contact Details

Filer

Filer Name
Pineapple Cove Classical Academy at
EIN
30-1006718
Phone
3214992585
Address
3455 NORFOLK PKWY, WEST MELBOURNE, FL 32904

Signing Officer

Name
Norda Gordon
Title
President
Phone
3214992585
Signed
2024-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Norda Gordon
Formed
2016
Legal Domicile
Fl
Voting Board Members
6
Independent Board Members
6
Employees
188

Preparer

Firm
Mcdonough CPA Solutions Pa
Address
445 W MERRITT AVE, MERRITT ISLAND, FL 32953-4760
Preparer
Heather K Mcdonough CPA
Phone
3214536256
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

To develop graduates in mind and character through a classical, content- rich curriculum that emphasizes the principles of virtuous living, traditional learning, and civic responsibility. We are building intelligent, virtuous, american citizens.

Form 990, Part III

To provide a rigorous curriculm that uses time-tested instructional approaches with proven track records of success. The foundation for pinaapple cove classical academy's curriculum is the core knowledge sequence. The core knowledge sequence is based upon e.d. Hirsch's idea od cultural literacy, which makes it the ideal basis for a classical liberal arts school. The term 'inovative learning methods' referes to new ideas and new manners of delivering instructions to students. While schools should always have the worthy goal of improving student learning outcomes and concrete methods od self-evaluation, pcca believes the greater goal is the produce students who communicate effectively, are vituous, possess cultural literacy, and are active and productive members of american society. In order to accomplish this valuable goal, we propose to use time-honored instruction methods that may not fit the standard definition of 'innovative', but whose results speak volumes. These methods are the cornerstone of classical education.

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IRS990ScheduleD/LandGrp/BookValueAmt0950000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0950000
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCRUED INTERST
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IRS990ScheduleD/TotalLiabilityAmt064057
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IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
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IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
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IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
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IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION PUBLICIZES ITS RACIALLY NONDISCRIMINATORY POLICY THROUGH BROCHURES, NEWSLETTERS, LOCAL NEIGHBORHOOD EVENTS, NEWSPAPERS, OPEN HOUSES, AND VIDEOS.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1RECEIVES GRANTS THROUGH THE FLORIDA DEPARTMENT OF EDUCATION
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 6
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IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt0WILMINGTON TRUST CONSTRUCTION OF EDUCATIONAL FACILITIES
IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt1WILMINGTON TRUST CONSTRUCTION OF EDUCATIONAL FACILTY
IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc0PURPOSE OF ISSUE DESCRIPTION
IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc1PURPOSE OF ISSUE DESCRIPTION
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IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd1B
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IRS990ScheduleK/TaxExemptBondsArbitrageGrp/ExceptionToRebateInd1false
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IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd1false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd1false
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IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd1false
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IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd1true
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02021-02-18
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt12021-02-18
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN0812721934
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN1812721934
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0WILMINGTON TRUST
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt1WILMINGTON TRUST
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd1false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd0false
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0CONSTRUCTION OF EDUCATIONAL FACILITIES
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc1CONSTRUCTION OF EDUCATIONAL FACILTY
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxExemptBondsInd0false
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BusinessName/BusinessNameLine1Txt0LEASE PAYABLES
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO DEVELOP GRADUATES IN MIND AND CHARACTER THROUGH A CLASSICAL, CONTENT- RICH CURRICULUM THAT EMPHASIZES THE PRINCIPLES OF VIRTUOUS LIVING, TRADITIONAL LEARNING, AND CIVIC RESPONSIBILITY. WE ARE BUILDING INTELLIGENT, VIRTUOUS, AMERICAN CITIZENS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TO PROVIDE A RIGOROUS CURRICULM THAT USES TIME-TESTED INSTRUCTIONAL APPROACHES WITH PROVEN TRACK RECORDS OF SUCCESS. THE FOUNDATION FOR PINAAPPLE COVE CLASSICAL ACADEMY'S CURRICULUM IS THE CORE KNOWLEDGE SEQUENCE. THE CORE KNOWLEDGE SEQUENCE IS BASED UPON E.D. HIRSCH'S IDEA OD CULTURAL LITERACY, WHICH MAKES IT THE IDEAL BASIS FOR A CLASSICAL LIBERAL ARTS SCHOOL. THE TERM 'INOVATIVE LEARNING METHODS' REFERES TO NEW IDEAS AND NEW MANNERS OF DELIVERING INSTRUCTIONS TO STUDENTS. WHILE SCHOOLS SHOULD ALWAYS HAVE THE WORTHY GOAL OF IMPROVING STUDENT LEARNING OUTCOMES AND CONCRETE METHODS OD SELF-EVALUATION, PCCA BELIEVES THE GREATER GOAL IS THE PRODUCE STUDENTS WHO COMMUNICATE EFFECTIVELY, ARE VITUOUS, POSSESS CULTURAL LITERACY, AND ARE ACTIVE AND PRODUCTIVE MEMBERS OF AMERICAN SOCIETY. IN ORDER TO ACCOMPLISH THIS VALUABLE GOAL, WE PROPOSE TO USE TIME-HONORED INSTRUCTION METHODS THAT MAY NOT FIT THE STANDARD DEFINITION OF 'INNOVATIVE', BUT WHOSE RESULTS SPEAK VOLUMES. THESE METHODS ARE THE CORNERSTONE OF CLASSICAL EDUCATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 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/ExplanationTxt3AT 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/ExplanationTxt4THE PRINCIPAL IS PAID IN ACCORDANCE WITH THE SCHOOL DISTRICT'S PAY SCALE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART III
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotalAssetsEOYAmt021605981
IRS990/TotalAssetsGrp/BOYAmt022341962
IRS990/TotalAssetsGrp/EOYAmt021605981

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