Civic Intelligence

Minneola Charter Schools Inc.

990 • Fiscal year 2024 • EIN 45-0468799

Jul 01, 2023 to Jun 30, 2024 • Filed on Feb 17, 2025

Organization ProfileLAKE.K12.FL.US/MOE

View Organization Page

320 East Pearl StreetMinneola, FL 34715

(352) 394-2600

Siviq Scores

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

Liabilities / Assets

77th percentile

0.52x

Higher debt load relative to assets than 77% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

71st percentile

0.57x

Higher debt load relative to revenue than 71% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

76th percentile

22%

Higher net margin than 76% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

37th percentile

$150,100

Higher top officer pay than 37% of similar nonprofits.

Top officer pay equals 0.9% of source-year revenue.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

85th percentile

25%

Faster asset growth than 85% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

26th percentile

-3.7%

Faster revenue growth than 26% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets77th percentile

Assets

Up

$18,938,838

Up $3,761,889 (+25%) from 2023

Net Assets

Up

$9,153,885

Up $3,841,313 (+72%) from 2023

Liabilities

Down

$9,784,953

Down $79,424 (-0.8%) from 2023

Revenue And Expenses
Liabilities / Revenue71st percentileNet Margin76th percentile

Revenue

Down

$17,249,779

Down $657,075 (-3.7%) from 2023

Expenses

Down

$13,408,466

Down $3,265,509 (-20%) from 2023

Net Income

Up

$3,841,313

Up $2,608,434 (+212%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth85th percentile

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

$20M$15M$10M$5.0M$0Assets 2011: $4,673,583Liabilities 2011: $1,132,263Net Assets 2011: $3,541,3202011Assets 2012: $5,169,898Liabilities 2012: $1,655,577Net Assets 2012: $3,514,3212012Assets 2013: $5,202,355Liabilities 2013: $1,248,088Net Assets 2013: $3,954,2672013Assets 2014: $5,732,433Liabilities 2014: $1,327,037Net Assets 2014: $4,405,3962014Assets 2015: $7,000,572Liabilities 2015: $4,889,939Net Assets 2015: $2,110,6332015Assets 2016: $7,913,901Liabilities 2016: $5,507,551Net Assets 2016: $2,406,3502016Assets 2017: $10,034,488Liabilities 2017: $7,441,701Net Assets 2017: $2,592,7872017Assets 2018: $10,634,693Liabilities 2018: $7,892,995Net Assets 2018: $2,741,6982018Assets 2019: $11,556,334Liabilities 2019: $8,606,752Net Assets 2019: $2,949,5822019Assets 2020: $12,277,749Liabilities 2020: $9,532,428Net Assets 2020: $2,745,3212020Assets 2021: $14,354,456Liabilities 2021: $11,777,786Net Assets 2021: $2,576,6702021Assets 2022: $14,329,481Liabilities 2022: $10,249,789Net Assets 2022: $4,079,6922022Assets 2023: $15,176,949Liabilities 2023: $9,864,377Net Assets 2023: $5,312,5722023Assets 2024: $18,938,838Liabilities 2024: $9,784,953Net Assets 2024: $9,153,8852024Assets 2025: $19,056,642Liabilities 2025: $11,044,876Net Assets 2025: $8,011,7662025

Highlighted filing

2024

Assets$18,938,838
Liabilities$9,784,953
Net Assets$9,153,885
Open 2024 Filing

Operations Trend

Revenue Growth26th percentile

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

$20M$15M$10M$5.0M$0-$5.0MRevenue 2011: $6,920,577Expenses 2011: $6,903,130Net Income 2011: $17,4472011Revenue 2012: $6,019,233Expenses 2012: $6,046,232Net Income 2012: -$26,9992012Revenue 2013: $6,339,273Expenses 2013: $5,899,327Net Income 2013: $439,9462013Revenue 2014: $7,099,642Expenses 2014: $6,648,513Net Income 2014: $451,1292014Revenue 2015: $7,598,234Expenses 2015: $6,946,612Net Income 2015: $651,6222015Revenue 2016: $7,556,418Expenses 2016: $7,142,861Net Income 2016: $413,5572016Revenue 2017: $7,877,341Expenses 2017: $7,690,904Net Income 2017: $186,4372017Revenue 2018: $8,052,714Expenses 2018: $7,788,646Net Income 2018: $264,0682018Revenue 2019: $9,901,497Expenses 2019: $9,693,613Net Income 2019: $207,8842019Revenue 2020: $11,366,618Expenses 2020: $11,570,879Net Income 2020: -$204,2612020Revenue 2021: $13,195,890Expenses 2021: $13,540,121Net Income 2021: -$344,2312021Revenue 2022: $14,463,653Expenses 2022: $12,960,631Net Income 2022: $1,503,0222022Revenue 2023: $17,906,854Expenses 2023: $16,673,975Net Income 2023: $1,232,8792023Revenue 2024: $17,249,779Expenses 2024: $13,408,466Net Income 2024: $3,841,3132024Revenue 2025: $16,870,560Expenses 2025: $18,012,679Net Income 2025: -$1,142,1192025

Highlighted filing

2024

Revenue$17,249,779
Expenses$13,408,466
Net Income$3,841,313
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Feb 17, 2025
Return Version
2023v6.0
Gross Receipts
$17,249,779
Mission and Program Overview

Mission

To provide an exceptional educational program committed to producing a strong academic student with good judgement, discipline, and drive, while also establishing a new form of accountability for schools.

Provide a nurturing, supportive, and learning environment so students can reach their full potential.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$9,243,055$8,886,598▼ $356,457
Savings and Temporary Cash Investments$1,896,986$2,241,019▲ $344,033
Cash and Non-Interest-Bearing Accounts$357,947$677,520▲ $319,573
Accounts Receivable$1,263,721$407,844▼ $855,877
Prepaid Expenses and Deferred Charges-$166,179-
Total Assets$15,176,949$18,938,838▲ $3,761,889
Other Assets Total$2,415,240$6,559,678▲ $4,144,438
Liabilities
Other Liabilities$8,925,346$8,733,304▼ $192,042
Accounts Payable and Accrued Expenses$939,031$1,051,649▲ $112,618
Total Liabilities$9,864,377$9,784,953▼ $79,424
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,607,103$8,610,061▲ $4,002,958
Net Assets With Donor Restrictions$705,469$543,824▼ $161,645
Total Net Assets Fund Balance$5,312,572$9,153,885▲ $3,841,313
Total Liabilities and Net Assets / Fund Balance$15,176,949$18,938,838▲ $3,761,889

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,797,369$1,237,016$8,034,385
Land$1,324,208-$1,324,208
Other Land Buildings$326,375$590,501$916,876
Equipment$349,435$562,340$911,775
Leasehold Improvements$89,211$64,546$153,757
Other Assets Org$2,060,673--
Compensation and Service Providers
Top Officer Pay37th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Sherry WattsPrincipalFT$150,100$150,100
Kim DisonAssistant PrincipalFT$129,985$129,985

Board Members and Trustees

NameTitle
Cpt Michael BondBoard Chairman
Whitney ReyesVice-chairman
David HosmanBoard Member
Lt Ron PattonBoard Member
John SchmidBoard Secretary
Barbara Susan SalazarBoard Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,027,040
Program Service Revenue
$16,136,161
Investment Income
$20,485
Other Revenue
$66,093
Change in Net Assets
$3,841,313

Audited Revenue Reconciliation

Revenue per Audited Statements
$17,249,779
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$97,917
Total Revenue per Audited Statements
$17,347,696
Total Revenue per Form 990
$17,249,779
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$12,247,614
Other Expenses$1,160,852
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$8,136,807$1,676,827-$9,813,634
Other Employee Benefits$1,157,424$254,069-$1,411,493
Payroll Taxes$608,770$133,632-$742,402
Depreciation Depletion$562,442$123,463-$685,905
Fees for Services Other$277,931$61,009-$338,940
Comp Disqual Persons$140,043$140,042-$280,085
Other Expenses$161,898$69,385-$231,283
Insurance$122,538$26,899-$149,437
Occupancy$65,090$14,288-$79,378
Travel$45,074$9,894-$54,968
Information Technology$22,121$4,856-$26,977
All Other Expenses$-1,830,792$-501,490-$-2,332,282
Total Functional Expenses$11,216,162$2,192,304$0$13,408,466

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$13,506,383
Expenses per Audited Statements$13,408,466
Total Expenses per Form 990$13,408,466
Expenses Not Reported on Form 990$97,917
Expenses Not Reported on Financial Statements$0
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
Frs Pension Liability$4,767,861
His Pension Liability$2,935,564
Compensated Absences$748,603
His Deferred Inflows$261,266
Due to District$20,010
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The organization was provided a copy of form 990 for their detail review prior to filing. The principal, assistant director of finance, and the charter board of directors review the return prior to filing with the internal revenue service.”

Form 990, Part VI, Section B, Line 12C

“The board members are required to complete a state of florida form (form 8b memorandum of voting conflict) when a conflict of interest is brought up at a board meeting.”

Form 990, Part VI, Section B, Line 15

“The salaries of all employees are set by the school board of lake county, and any change in compensation is subject to review and approval by the school board of lake county.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Minneola Charter Schools Inc
EIN
45-0468799
Phone
3523942600
Address
320 EAST PEARL STREET, MINNEOLA, FL 34715

Signing Officer

Name
Cpt Michael Bond
Title
Board Chairman
Phone
3523942600
Signed
2025-02-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cpt Michael Bond
Formed
2002
Legal Domicile
Fl
Voting Board Members
6
Independent Board Members
6
Employees
231
Volunteers
122

Preparer

Firm
Bkhm Pa
Address
1900 SUMMIT TOWER BLVD STE 170, ORLANDO, FL 32810
Preparer
Stephen Bonazinca
Phone
4079989000
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 5

“The relationship between the minneola elementary school and the lake county school district requires the employees working at the school technically be employees of the school district. As such, all payroll and payroll related costs are processed and paid by the school district. These expenses are then reimbursed by the school to the school district on a dollar for dollar basis. Reimbursements paid to the lake county school district for payroll and related benefits totaled $9,390,692.00 for the year. There are approximately 160 employees of the lake county school district working at the minneola elementary school. As such, these employees did not receive form w-2. The number of employees directly hired by minneola elementary school, for student transportation services, was 42 during the 2024 calendar year.”

Financial Statement Notes

PART X, LINE 2:

“The school is an organization exempt from income taxation under section 501(a) as an entity described in section 501(c)(3) of the internal revenue code of 1986, as amended. Accordingly, no provision for federal income taxes is included in the accompanying financial statements. The school has adopted guidance related to accounting for uncertainty in income taxes, which prescribes a recognition threshold and measurement attribute for financial statement recognition and measurement of a tax position that an entity takes or expects to take in a tax return. This guidance is applicable to not-for-profit organizations that may be conducting unrelated business activities, which are potentially subject to income taxes, including state income taxes. The school assesses its income tax positions, including its continuing tax status as a not-for-profit entity, and recognizes tax benefits only to the extent that the school believes it is "more likely than not" that its tax positions will be sustained upon an examination by the internal revenue service ("irs") or the applicable state taxing authority. Accordingly, there is no provision for federal income taxes in the school's financial statements, as the school believes all tax positions, including its continuing status as a not-for-profit entity, have a greater than 50% chance of realization in the event of an irs audit. State income taxes, which may be due in certain jurisdictions, have been assessed following the same "more likely than not" measurement threshold.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Passthrough administrative fees 97,917.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Passthrough administrative fees 97,917.”

Raw XML AppendixShowing 400 of 471 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/MissionDesc0TO PROVIDE AN EXCEPTIONAL EDUCATIONAL PROGRAM COMMITTED TO PRODUCING A STRONG ACADEMIC STUDENT WITH GOOD JUDGEMENT, DISCIPLINE, AND DRIVE, WHILE ALSO ESTABLISHING A NEW FORM OF ACCOUNTABILITY FOR SCHOOLS.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
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IRS990/NetAssetsOrFundBalancesEOYAmt09153885
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt04607103
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IRS990/NondeductibleContributionsInd00
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IRS990/OccupancyGrp/ProgramServicesAmt065090
IRS990/OccupancyGrp/TotalAmt079378
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
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IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0254069
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt01157424
IRS990/OtherEmployeeBenefitsGrp/TotalAmt01411493
IRS990/OtherExpensesGrp/Desc0OTHER PURCHASED SERVICE
IRS990/OtherExpensesGrp/Desc1ENERGY SERVICES
IRS990/OtherExpensesGrp/Desc2SUPPLIES
IRS990/OtherExpensesGrp/Desc3TEXTBOOKS AND WORKBOOKS
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt269385
IRS990/OtherExpensesGrp/ProgramServicesAmt01031124
IRS990/OtherExpensesGrp/ProgramServicesAmt1476319
IRS990/OtherExpensesGrp/ProgramServicesAmt2239373
IRS990/OtherExpensesGrp/ProgramServicesAmt3161898
IRS990/OtherExpensesGrp/TotalAmt01158009
IRS990/OtherExpensesGrp/TotalAmt1476319
IRS990/OtherExpensesGrp/TotalAmt2291918
IRS990/OtherExpensesGrp/TotalAmt3231283
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IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS REVENUE
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt066093
IRS990/OtherRevenueTotalAmt066093
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt01676827
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt08136807
IRS990/OtherSalariesAndWagesGrp/TotalAmt09813634
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt0133632
IRS990/PayrollTaxesGrp/ProgramServicesAmt0608770
IRS990/PayrollTaxesGrp/TotalAmt0742402
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0166179
IRS990/PrincipalOfficerNm0CPT MICHAEL BOND
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/BusinessCd2900099
IRS990/ProgramServiceRevenueGrp/Desc0PER PUPIL FEES
IRS990/ProgramServiceRevenueGrp/Desc1INTERNAL ACCOUNT RECEIPTS
IRS990/ProgramServiceRevenueGrp/Desc2EXTENDED LEARNING CENTER
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt014957256
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1661670
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2517235
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt014957256
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1661670
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2517235
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
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IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0-1423
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IRS990/PYOtherRevenueAmt066599
IRS990/PYProgramServiceRevenueAmt014648466
IRS990/PYRevenuesLessExpensesAmt01232879
IRS990/PYSalariesCompEmpBnftPaidAmt012049764
IRS990/PYTotalExpensesAmt016673975
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt017906854
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt03841313
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt016202254
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01896986
IRS990/SavingsAndTempCashInvstGrp/EOYAmt02241019
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt06797369
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01237016
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt08034385
IRS990ScheduleD/EquipmentGrp/BookValueAmt0349435
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0562340
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0911775
IRS990ScheduleD/ExpensesNotReportedAmt097917
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt013408466
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt01324208
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01324208
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt089211
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt064546
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0153757
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt04499005
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt12060673
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0FRS DEFERRED OUTFLOWS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1HIS DEFERRED OUTFLOWS
IRS990ScheduleD/OtherExpensesIncludedAmt097917
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0326375
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0590501
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0916876
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt020010
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1748603
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt24767861
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt32935564
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt4261266
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO DISTRICT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1COMPENSATED ABSENCES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2FRS PENSION LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3HIS PENSION LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4HIS DEFERRED INFLOWS
IRS990ScheduleD/OtherRevenueAmt097917
IRS990ScheduleD/RevenueNotReportedAmt097917
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt017249779
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL IS AN ORGANIZATION EXEMPT FROM INCOME TAXATION UNDER SECTION 501(A) AS AN ENTITY DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. ACCORDINGLY, NO PROVISION FOR FEDERAL INCOME TAXES IS INCLUDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE SCHOOL HAS ADOPTED GUIDANCE RELATED TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION THAT AN ENTITY TAKES OR EXPECTS TO TAKE IN A TAX RETURN. THIS GUIDANCE IS APPLICABLE TO NOT-FOR-PROFIT ORGANIZATIONS THAT MAY BE CONDUCTING UNRELATED BUSINESS ACTIVITIES, WHICH ARE POTENTIALLY SUBJECT TO INCOME TAXES, INCLUDING STATE INCOME TAXES. THE SCHOOL ASSESSES ITS INCOME TAX POSITIONS, INCLUDING ITS CONTINUING TAX STATUS AS A NOT-FOR-PROFIT ENTITY, AND RECOGNIZES TAX BENEFITS ONLY TO THE EXTENT THAT THE SCHOOL BELIEVES IT IS "MORE LIKELY THAN NOT" THAT ITS TAX POSITIONS WILL BE SUSTAINED UPON AN EXAMINATION BY THE INTERNAL REVENUE SERVICE ("IRS") OR THE APPLICABLE STATE TAXING AUTHORITY. ACCORDINGLY, THERE IS NO PROVISION FOR FEDERAL INCOME TAXES IN THE SCHOOL'S FINANCIAL STATEMENTS, AS THE SCHOOL BELIEVES ALL TAX POSITIONS, INCLUDING ITS CONTINUING STATUS AS A NOT-FOR-PROFIT ENTITY, HAVE A GREATER THAN 50% CHANCE OF REALIZATION IN THE EVENT OF AN IRS AUDIT. STATE INCOME TAXES, WHICH MAY BE DUE IN CERTAIN JURISDICTIONS, HAVE BEEN ASSESSED FOLLOWING THE SAME "MORE LIKELY THAN NOT" MEASUREMENT THRESHOLD.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1PASSTHROUGH ADMINISTRATIVE FEES 97,917.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2PASSTHROUGH ADMINISTRATIVE FEES 97,917.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt08886598
IRS990ScheduleD/TotalBookValueOtherAssetsAmt06559678
IRS990ScheduleD/TotalExpensesPerForm990Amt013408466
IRS990ScheduleD/TotalLiabilityAmt08733304
IRS990ScheduleD/TotalRevenuePerForm990Amt017249779
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt017347696
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt013506383
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION PUBLICIZES ITS RACIALLY NONDISCRIMINATORY POLICY THROUGH BROCHURES, NEWSLETTERS, LOCAL NEIGHBORHOOD EVENTS, NEWSPAPERS, OPEN HOUSES, WEBSITES AND/OR VIDEOS.
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. REVENUES ARE RECEIVED FROM THE EARLY LEARNING COALITION OF LAKE COUNTY THROUGH THE VOLUNTARY PREKINDERGARTEN EDUCATION PROGRAM, ADMINISTERED BY THE OFFICE OF EARLY LEARNING UNDER THE FLORIDA DEPARTMENT OF EDUCATION. A SEPARATE BASE STUDENT ALLOCATION PER FULL-TIME EQUIVALENT STUDENT IN THE VOLUNTARY PREKINDERGARTEN EDUCATION PROGRAM SHALL BE PROVIDED IN THE GENERAL APPROPRIATIONS ACT, TOTALING $166,179 FOR MINNEOLA CHARTER SCHOOL FOR THE 2023-2024 SCHOOL YEAR.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 6
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0150100
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0SHERRY WATTS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRINCIPAL
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0150100
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE RELATIONSHIP BETWEEN THE MINNEOLA ELEMENTARY SCHOOL AND THE LAKE COUNTY SCHOOL DISTRICT REQUIRES THE EMPLOYEES WORKING AT THE SCHOOL TECHNICALLY BE EMPLOYEES OF THE SCHOOL DISTRICT. AS SUCH, ALL PAYROLL AND PAYROLL RELATED COSTS ARE PROCESSED AND PAID BY THE SCHOOL DISTRICT. THESE EXPENSES ARE THEN REIMBURSED BY THE SCHOOL TO THE SCHOOL DISTRICT ON A DOLLAR FOR DOLLAR BASIS. REIMBURSEMENTS PAID TO THE LAKE COUNTY SCHOOL DISTRICT FOR PAYROLL AND RELATED BENEFITS TOTALED $9,390,692.00 FOR THE YEAR. THERE ARE APPROXIMATELY 160 EMPLOYEES OF THE LAKE COUNTY SCHOOL DISTRICT WORKING AT THE MINNEOLA ELEMENTARY SCHOOL. AS SUCH, THESE EMPLOYEES DID NOT RECEIVE FORM W-2. THE NUMBER OF EMPLOYEES DIRECTLY HIRED BY MINNEOLA ELEMENTARY SCHOOL, FOR STUDENT TRANSPORTATION SERVICES, WAS 42 DURING THE 2024 CALENDAR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION WAS PROVIDED A COPY OF FORM 990 FOR THEIR DETAIL REVIEW PRIOR TO FILING. THE PRINCIPAL, ASSISTANT DIRECTOR OF FINANCE, AND THE CHARTER BOARD OF DIRECTORS REVIEW THE RETURN PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD MEMBERS ARE REQUIRED TO COMPLETE A STATE OF FLORIDA FORM (FORM 8B MEMORANDUM OF VOTING CONFLICT) WHEN A CONFLICT OF INTEREST IS BROUGHT UP AT A BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE SALARIES OF ALL EMPLOYEES ARE SET BY THE SCHOOL BOARD OF LAKE COUNTY, AND ANY CHANGE IN COMPENSATION IS SUBJECT TO REVIEW AND APPROVAL BY THE SCHOOL BOARD OF LAKE COUNTY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART I, LINE 5
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt015176949
IRS990/TotalAssetsEOYAmt018938838

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$18,938,838
Liabilities
$9,784,953
Net assets
$9,153,885
Revenue
$17,249,779
Expenses
$13,408,466
Net income
$3,841,313
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$19.1$11.0$8.01$16.9$18.0$1.14
2024Detailed filing. Detailed filing data is available for this year.$18.9$9.78$9.15$17.2$13.4$3.84
2023Detailed filing. Detailed filing data is available for this year.$15.2$9.86$5.31$17.9$16.7$1.23
2022Detailed filing. Detailed filing data is available for this year.$14.3$10.2$4.08$14.5$13.0$1.50
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.4$11.8$2.58$13.2$13.5$0.34
2020Summary only. Only limited summary data is available for this year.$12.3$9.53$2.75$11.4$11.6$0.20
2019Detailed filing. Detailed filing data is available for this year.$11.6$8.61$2.95$9.90$9.69$0.21
2018Detailed filing. Detailed filing data is available for this year.$10.6$7.89$2.74$8.05$7.79$0.26
2017Detailed filing. Detailed filing data is available for this year.$10.0$7.44$2.59$7.88$7.69$0.19
2016Detailed filing. Detailed filing data is available for this year.$7.91$5.51$2.41$7.56$7.14$0.41
2015Summary only. Only limited summary data is available for this year.$7.00$4.89$2.11$7.60$6.95$0.65
2014Summary only. Only limited summary data is available for this year.$5.73$1.33$4.41$7.10$6.65$0.45
2013Summary only. Only limited summary data is available for this year.$5.20$1.25$3.95$6.34$5.90$0.44
2012Summary only. Only limited summary data is available for this year.$5.17$1.66$3.51$6.02$6.05$0.03
2011Summary only. Only limited summary data is available for this year.$4.67$1.13$3.54$6.92$6.90$0.02