Civic Intelligence

Carrollwood Day School

EIN 31-1581952 • 501(c)3 • Tampa, FL

Linked School Profile

Profile

Carrollwood day school's mission is to create entrepreneurial thinkers for a global society. We provide strong character-based education emphasizing problem-solving skills and philanthropic understanding. Our students are prepared to be world leaders using an international baccalaureate curriculum, cutting-edge technology, creative arts, and competitive athletics. Most importantly, carrollwood day school fosters the development of the entire student not only in academics, but also ethically, emotionally, and through social experience. Our goal is to help students discover their own talents and interests and use these to better the world and themselves.

1515 West Bearss AvenueTampa, FL 33613

www.carrollwooddayschool.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

74th percentile

0.54x

Higher debt load relative to assets than 74% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Liabilities / Revenue

76th percentile

1.06x

Higher debt load relative to revenue than 76% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Net Margin

47th percentile

3.7%

Higher net margin than 47% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Top Officer Pay

49th percentile

$350,000

Higher top officer pay than 49% of similar nonprofits.

Top officer pay equals 1.2% of source-year revenue.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Asset Growth

52nd percentile

6.4%

Faster asset growth than 52% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Revenue Growth

27th percentile

-1.0%

Faster revenue growth than 27% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Assets

Up

$47,766,814

Up $2,909,173 (+6.5%) from 2021

Liabilities

Down

$27,843,756

Down $2,326,839 (-7.7%) from 2021

Net Assets

Up

$19,923,058

Up $5,236,012 (+36%) from 2021

Revenue

Up

$26,534,017

Up $5,966,768 (+29%) from 2021

Expenses

Up

$21,324,782

Up $2,307,087 (+12%) from 2021

Net Income

Up

$5,209,235

Up $3,659,681 (+236%) from 2021

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$60M$40M$20M$0Assets 2010: $20,003,122Liabilities 2010: $16,826,798Net Assets 2010: $3,176,3242010Assets 2011: $27,319,467Liabilities 2011: $24,031,046Net Assets 2011: $3,288,4212011Assets 2012: $27,281,414Liabilities 2012: $24,241,547Net Assets 2012: $3,039,8672012Assets 2013: $26,128,694Liabilities 2013: $22,053,074Net Assets 2013: $4,075,6202013Assets 2015: $28,636,735Liabilities 2015: $22,438,755Net Assets 2015: $6,197,9802015Assets 2016: $31,478,938Liabilities 2016: $22,548,637Net Assets 2016: $8,930,3012016Assets 2017: $33,003,634Liabilities 2017: $22,612,893Net Assets 2017: $10,390,7412017Assets 2018: $32,739,346Liabilities 2018: $21,860,712Net Assets 2018: $10,878,6342018Assets 2019: $32,673,761Liabilities 2019: $20,618,086Net Assets 2019: $12,055,6752019Assets 2020: $36,473,569Liabilities 2020: $23,336,079Net Assets 2020: $13,137,4902020Assets 2021: $44,857,641Liabilities 2021: $30,170,595Net Assets 2021: $14,687,0462021Assets 2022: $47,766,814Liabilities 2022: $27,843,756Net Assets 2022: $19,923,0582022

Highlighted filing

2022

Assets$47,766,814
Liabilities$27,843,756
Net Assets$19,923,058

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$30M$20M$10M$0Expenses 2010: $9,313,0612010Expenses 2011: $10,722,7522011Expenses 2012: $11,528,2072012Expenses 2013: $11,733,7262013Revenue 2015: $14,158,914Expenses 2015: $13,358,098Net Income 2015: $800,8162015Revenue 2016: $16,677,316Expenses 2016: $13,944,995Net Income 2016: $2,732,3212016Revenue 2017: $16,899,116Expenses 2017: $15,438,676Net Income 2017: $1,460,4402017Revenue 2018: $18,322,700Expenses 2018: $17,834,807Net Income 2018: $487,8932018Revenue 2019: $20,072,273Expenses 2019: $18,895,232Net Income 2019: $1,177,0412019Revenue 2020: $19,803,380Expenses 2020: $18,721,565Net Income 2020: $1,081,8152020Revenue 2021: $20,567,249Expenses 2021: $19,017,695Net Income 2021: $1,549,5542021Revenue 2022: $26,534,017Expenses 2022: $21,324,782Net Income 2022: $5,209,2352022

Highlighted filing

2022

Revenue$26,534,017
Expenses$21,324,782
Net Income$5,209,235

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$47.8$27.8$19.9$26.5$21.3$5.21
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$44.9$30.2$14.7$20.6$19.0$1.55
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$36.5$23.3$13.1$19.8$18.7$1.08
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$32.7$20.6$12.1$20.1$18.9$1.18
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$32.7$21.9$10.9$18.3$17.8$0.49
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$33.0$22.6$10.4$16.9$15.4$1.46
2016Detailed filing. Detailed filing data is available for this year.$31.5$22.5$8.93$16.7$13.9$2.73
2015Detailed filing. Detailed filing data is available for this year.$28.6$22.4$6.20$14.2$13.4$0.80
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$26.1$22.1$4.08$11.7
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.3$24.2$3.04$11.5
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.3$24.0$3.29$10.7
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.0$16.8$3.18$9.31
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 15, 2023
Return Version
2021v4.0
Gross Receipts
$26,607,758
Mission and Program Overview

Mission

Carrollwood day school's mission is to create entrepreneurial thinkers for a global society. We provide strong character-based education emphasizing problem-solving skills and philanthropic understanding. Our students are prepared to be world leaders using an international baccalaureate curriculum, cutting-edge technology, creative arts, and competitive athletics. Most importantly, carrollwood day school fosters the development of the entire student not only in academics, but also ethically, emotionally, and through social experience. Our goal is to help students discover their own talents and interests and use these to better the world and themselves.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$25,620,714$32,478,124▲ $6,857,410
Savings and Temporary Cash Investments$16,992,405$12,179,458▼ $4,812,947
Pledges and Grants Receivable$1,983,793$1,575,032▼ $408,761
Prepaid Expenses and Deferred Charges$96,815$324,491▲ $227,676
Investments in Publicly Traded Securities-$126,277-
Accounts Receivable$62,943$64,906▲ $1,963
Total Assets$44,857,641$47,766,814▲ $2,909,173
Other Assets Total$100,971$1,018,526▲ $917,555
Liabilities
Mortgage Notes Payable Secured by Investment Property$15,978,855$15,454,836▼ $524,019
Deferred Revenue$10,025,664$11,675,319▲ $1,649,655
Unsecured Notes Loans Payable$2,563,730--
Accounts Payable and Accrued Expenses$1,134,051$713,601▼ $420,450
Other Liabilities$468,295--
Total Liabilities$30,170,595$27,843,756▼ $2,326,839
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$13,466,451$19,923,058▲ $6,456,607
Net Assets With Donor Restrictions$1,220,595--
Total Net Assets Fund Balance$14,687,046$19,923,058▲ $5,236,012
Total Liabilities and Net Assets / Fund Balance$44,857,641$47,766,814▲ $2,909,173

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$28,383,410$13,713,959$42,097,369
Land$3,160,682-$3,160,682
Other Land Buildings$778,670$1,535,431$2,314,101
Equipment$155,362$1,095,052$1,250,414
Leasehold Improvements-$216,204$216,204
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Sara RubinsteinHead of SchoFT$303,700$17,978$321,678
Sara RubinsteinHead of School-$303,700$17,978$321,678
Larry PittmanCFOFT$239,150$17,073$256,223
Michelle RobinsonDirector of InstFT$120,240$12,155$132,395
Anita PittmanDirector of HumanFT$109,885$11,215$121,100
Rudolph MontyDirector of FacilFT$102,591$11,402$113,993

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Phelps Dunbar LLPLegalPO BOX 974798, Dallas, TX 75397-4798$233,303
Revenue and Support

Revenue Composition

Contributions and Grants
$3,798,479
Program Service Revenue
$21,084,550
Investment Income
$36,576
Other Revenue
$1,614,412
All Other Contributions
$1,111,724
Change in Net Assets
$5,209,235

Audited Revenue Reconciliation

Revenue per Audited Statements
$26,534,017
Revenue Not Reported on Form 990
$26,277
Total Revenue per Audited Statements
$26,560,294
Total Revenue per Form 990
$26,534,017
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$13,796,098
Other Expenses$7,528,684
Total Fundraising Expense$335,700
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$9,981,504$816,392$171,589$10,969,485
Depreciation Depletion$1,874,214--$1,874,214
Occupancy$1,310,042$26,736-$1,336,778
Current Officers, Directors, Trustees, and Key Employees$796,707$65,163$13,696$875,566
Payroll Taxes$584,508$222,028$46,742$853,278
Other Employee Benefits$652,809$67,619$14,235$734,663
Interest-$670,675-$670,675
Insurance$507,048$10,348-$517,396
Pension Plan Contributions$243,543$98,769$20,794$363,106
Information Technology$354,404$7,234-$361,638
Office Expenses$332,585$6,788-$339,373
All Other Expenses$170,809$2,352$37,783$210,944
Fees for Services Legal-$162,582-$162,582
Fees for Services Other$61,102$26,492-$87,594
Travel$73,941$1,509-$75,450
Other Expenses$68,626$1,401$14,195$70,027
Advertising$37,466$764$16,481$54,711
Conferences and Meetings$4,808$98-$4,906
Total Functional Expenses$18,733,939$2,255,143$335,700$21,324,782

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$21,324,782
Total Expenses per Audited Statements$21,324,782
Total Expenses per Form 990$21,324,782
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$302,303
Fundraising Direct Expenses$73,741
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Auction$425,328$302,303$29,212$273,091
Total Events$425,328$302,303$73,741$228,562
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
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 form 990 is reviewed by the finance committee.

Form 990, Page 6, Part VI, Line 18

Form 990 is available for public viewing upon request in the chief financial officer's office.

Form 990, Page 6, Part VI, Line 19

No documents are available to the public.

Filing and Contact Details

Filer

Filer Name
Carrollwood Day School
EIN
31-1581952
Phone
8139202288
Address
1515 WEST BEARSS AVENUE, TAMPA, FL 33613

Signing Officer

Name
Sara Rubinstein
Title
Head of School
Phone
8139202288
Signed
2023-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Babb
Formed
1998
Legal Domicile
Fl
Voting Board Members
19
Independent Board Members
19
Employees
300

Preparer

Firm
Financial Solution Advisors Pllc
Address
4350 PABLO PROFESSIONAL CT STE 200, JACKSONVILLE, FL 32224-3224
Preparer
Michael B Mcleod CPA
Phone
9042962024
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Carrollwood day school's mission is to create entrepreneurial thinkers for a global society. We provide strong character-based education emphasizing problem-solving skills and philanthropic understanding. Our students are prepared to be world leaders using an international baccalaureate curriculum, cutting-edge technology, creative arts, and competitive athletics. Most importantly, carrollwood day school fosters the development of the entire student not only in academics, but also ethically, emotionally, and through social experience. Our goal is to help students discover their own talents and interests and use these to better the world and themselves.

Financial Statement Notes

Schedule D, Page 3, Part X

The school is exempt from federal income tax under section 501(a) of the internal revenue code (irc) and from state corporate income tax under applicable florida statutes. The school follows the income tax standard for uncertain tax positions. The school has evaluated their tax positions and determined they have no uncertain tax positions as of june 30, 2022. Should the schools tax-exempt status be challenged in the future, the schools 2020, 2021 and 2022 tax years are open for examination by the irs.

Raw XML AppendixShowing 400 of 632 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/AccountsReceivableGrp/EOYAmt064906
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IRS990/ActivityOrMissionDesc0CARROLLWOOD DAY SCHOOL'S MISSION IS TO CREATE ENTREPRENEURIAL THINKERS FOR A GLOBAL SOCIETY. WE PROVIDE STRONG CHARACTER-BASED EDUCATION EMPHASIZING PROBLEM-SOLVING SKILLS AND PHILANTHROPIC UNDERSTANDING. OUR STUDENTS ARE PREPARED TO BE WORLD LEADERS USING AN INTERNATIONAL BACCALAUREATE CURRICULUM, CUTTING-EDGE TECHNOLOGY, CREATIVE ARTS, AND COMPETITIVE ATHLETICS. MOST IMPORTANTLY, CARROLLWOOD DAY SCHOOL FOSTERS THE DEVELOPMENT OF THE ENTIRE STUDENT NOT ONLY IN ACADEMICS, BUT ALSO ETHICALLY, EMOTIONALLY, AND THROUGH SOCIAL EXPERIENCE. OUR GOAL IS TO HELP STUDENTS DISCOVER THEIR OWN TALENTS AND INTERESTS AND USE THESE TO BETTER THE WORLD AND THEMSELVES.
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