Civic Intelligence

Miami-Dade Foundation for Educational Innovation Inc

990 • Fiscal year 2020 • EIN 45-2690728

Jul 01, 2019 to Jun 30, 2020 • Filed on Mar 05, 2021

1080 Labaron DriveMiami Springs, FL 33166

(305) 883-3900

Siviq Scores

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

Liabilities / Assets

71st percentile

0.42x

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

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

49th percentile

0.21x

Higher debt load relative to revenue than 49% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Net Margin

40th percentile

1.0%

Higher net margin than 40% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

58th percentile

$138,444

Higher top officer pay than 58% of similar nonprofits.

Top officer pay equals 2.4% of source-year revenue.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Asset Growth

86th percentile

42%

Faster asset growth than 86% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

76th percentile

20%

Faster revenue growth than 76% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Assets

Up

$2,838,494

Up $839,757 (+42%) from 2019

Net Assets

Up

$1,641,196

Up $56,519 (+3.6%) from 2019

Liabilities

Up

$1,197,298

Up $783,238 (+189%) from 2019

Revenue

Up

$5,839,306

Up $974,553 (+20%) from 2019

Expenses

Up

$5,783,426

Up $1,037,166 (+22%) from 2019

Net Income

Down

$55,880

Down $62,613 (-53%) from 2019

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0Assets 2012: $69,975Liabilities 2012: $61,152Net Assets 2012: $8,8232012Assets 2013: $304,109Liabilities 2013: $155,393Net Assets 2013: $148,7162013Assets 2014: $673,808Liabilities 2014: $178,677Net Assets 2014: $495,1312014Assets 2015: $838,781Liabilities 2015: $205,280Net Assets 2015: $633,5012015Assets 2016: $1,111,570Liabilities 2016: $248,479Net Assets 2016: $863,0912016Assets 2017: $1,686,571Liabilities 2017: $577,587Net Assets 2017: $1,108,9842017Assets 2018: $1,907,502Liabilities 2018: $441,318Net Assets 2018: $1,466,1842018Assets 2019: $1,998,737Liabilities 2019: $414,060Net Assets 2019: $1,584,6772019Assets 2020: $2,838,494Liabilities 2020: $1,197,298Net Assets 2020: $1,641,1962020Assets 2021: $4,581,700Liabilities 2021: $1,054,084Net Assets 2021: $3,527,6162021Assets 2022: $5,769,688Liabilities 2022: $2,771,522Net Assets 2022: $2,998,1662022Assets 2023: $8,586,584Liabilities 2023: $4,109,486Net Assets 2023: $4,477,0982023

Highlighted filing

2020

Assets$2,838,494
Liabilities$1,197,298
Net Assets$1,641,196

Operations Trend

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

$15M$10M$5.0M$0-$5.0MRevenue 2012: $832,238Expenses 2012: $823,415Net Income 2012: $8,8232012Expenses 2013: $1,850,4812013Revenue 2014: $2,483,115Expenses 2014: $2,136,700Net Income 2014: $346,4152014Revenue 2015: $2,709,003Expenses 2015: $2,570,633Net Income 2015: $138,3702015Revenue 2016: $3,064,802Expenses 2016: $2,835,212Net Income 2016: $229,5902016Revenue 2017: $3,661,168Expenses 2017: $3,415,275Net Income 2017: $245,8932017Revenue 2018: $4,319,156Expenses 2018: $3,961,956Net Income 2018: $357,2002018Revenue 2019: $4,864,753Expenses 2019: $4,746,260Net Income 2019: $118,4932019Revenue 2020: $5,839,306Expenses 2020: $5,783,426Net Income 2020: $55,8802020Revenue 2021: $8,870,281Expenses 2021: $6,983,861Net Income 2021: $1,886,4202021Revenue 2022: $7,788,974Expenses 2022: $8,318,424Net Income 2022: -$529,4502022Revenue 2023: $11,518,265Expenses 2023: $10,056,390Net Income 2023: $1,461,8752023

Highlighted filing

2020

Revenue$5,839,306
Expenses$5,783,426
Net Income$55,880
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Mar 5, 2021
Return Version
2019v5.0
Gross Receipts
$5,839,306
Mission and Program Overview

Mission

To provide students with a comprehensive international education through the use of technology and language acquisition, so that students will become life-long inquisitive learners and utilize this knowledge across international boundaries.

To prepare our students to be independent multilingual citizens in a global society

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$827,408$1,352,240▲ $524,832
Savings and Temporary Cash Investments$1,001,131$800,775▼ $200,356
Cash and Non-Interest-Bearing Accounts$115,778$660,548▲ $544,770
Accounts Receivable$28,599$22,125▼ $6,474
Prepaid Expenses and Deferred Charges$25,821$2,806▼ $23,015
Total Assets$1,998,737$2,838,494▲ $839,757
Liabilities
Other Liabilities$149,796$804,996▲ $655,200
Accounts Payable and Accrued Expenses$264,264$392,302▲ $128,038
Total Liabilities$414,060$1,197,298▲ $783,238
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,584,677$1,641,196▲ $56,519
Total Net Assets Fund Balance$1,584,677$1,641,196▲ $56,519
Total Liabilities and Net Assets / Fund Balance$1,998,737$2,838,494▲ $839,757

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$774,130$332,206$1,106,336
Other Land Buildings$578,110$230,267$808,377
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Vera a HirshPrincipalFT$138,444$138,444

Board Members and Trustees

NameTitle
Michael BellPresident/ch
Fred JonesDirector
Jeanette Acevedo-isenbergDirector
Carol BallentSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
School Board Of Miami-dade CountyManagement Serv1450 NE 2ND AVE, Miami, FL 33132$203,940
Revenue and Support

Revenue Composition

Contributions and Grants
$345,501
Program Service Revenue
$5,467,160
Investment Income
$2,645
Other Revenue
$24,000
All Other Contributions
$1,402
Change in Net Assets
$55,880

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,839,306
Total Revenue per Audited Statements
$5,839,306
Total Revenue per Form 990
$5,839,306
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,201,165
Other Expenses$1,582,261
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,104,545$344,950-$3,449,495
All Other Expenses$281,987$93,592-$375,579
Other Employee Benefits$294,262$32,696-$326,958
Payroll Taxes$252,816$28,091-$280,907
Occupancy$261,785$18,183-$279,968
Depreciation Depletion$145,580$36,395-$181,975
Current Officers, Directors, Trustees, and Key Employees-$143,805-$143,805
Other Expenses$64,698$88,264-$64,698
Fees for Services Legal-$40,983-$40,983
Insurance$36,229$4,026-$40,255
Travel$1,517$8,594-$10,111
Fees for Services Accounting-$7,750-$7,750
Total Functional Expenses$4,608,737$1,174,689$0$5,783,426

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,783,426
Total Expenses per Audited Statements$5,783,426
Total Expenses per Form 990$5,783,426
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
Paycheck Protection Program Loan$705,200
Due to Mdc School Distr. Within 1yr$50,000
Due to Mdc School Distr. Aft. 1yr$49,796
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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 principal and board of directors review the form 990 prior to filing.

Form 990, Page 6, Part VI, Line 12C

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

Form 990, Page 6, Part VI, Line 15A

The board of directors reviews the annual compensation of other comparable principals in the state of florida and in miami-dade county, as a basis for determineing compensation.

Form 990, Page 6, Part VI, Line 19

The governing documents, conflict of interest policy, and financial statements are availble upon request.

Filing and Contact Details

Filer

Filer Name
Miami-dade Foundation for
EIN
45-2690728
Phone
3058833900
Address
1080 LABARON DRIVE, MIAMI SPRINGS, FL 33166
Doing Business As
Academy for International Education

Signing Officer

Name
Vera a Hirsh
Title
Principal
Phone
3058833900
Signed
2021-03-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Bell
Formed
2011
Legal Domicile
Fl
Voting Board Members
4
Independent Board Members
4
Employees
96
Volunteers
14

Preparer

Firm
Sotolongo & Associates Pa
Address
8231 SW 29 STREET, MIAMI, FL 33155
Preparer
Emil Sotolongo CPA
Phone
3057765778
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

To provide students with a comprehensive international education through the use of technology and language acquisition, so that students will become life-long inquisitive learners and utilize this knowledge across international boundaries.

Financial Statement Notes

Schedule D, Page 3, Part X

Miami-dade foundation for educational innovation, inc. (mdfei) 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. Mdfei 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. Mdfei 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 mdfei 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 schools financial statements, as mdfei 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.

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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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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
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IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0774130
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0332206
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt01106336
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0578110
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0230267
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0808377
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0705200
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt150000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt249796
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PAYCHECK PROTECTION PROGRAM LOAN
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DUE TO MDC SCHOOL DISTR. WITHIN 1YR
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2DUE TO MDC SCHOOL DISTR. AFT. 1YR
IRS990ScheduleD/RevenueSubtotalAmt05839306
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MIAMI-DADE FOUNDATION FOR EDUCATIONAL INNOVATION, INC. (MDFEI) 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. MDFEI 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. MDFEI 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 MDFEI 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 SCHOOLS FINANCIAL STATEMENTS, AS MDFEI 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/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/TotalExpensesPerForm990Amt05783426
IRS990ScheduleD/TotalLiabilityAmt0804996
IRS990ScheduleD/TotalRevenuePerForm990Amt05839306
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IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
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IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0false
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IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0SEE PART II
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1SINCE THE SCHOOL IS A CHARTER SCHOOL, IT DOES NOT OFFER SCHOLARSHIPS AND/OR FINANCIAL ASSISTANCE TO ANY STUDENT.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2SCHEDULE E - LINE 6A - THE ORGANIZAITON RECEIVES FEDERAL, STATE AND LOCAL FUNDING FOR ITS CHARTER SCHOOL OPERATIONS. THE SCHOOL IS A CHARTER SCHOOL AND FOLLOWS THE SAME NONDISCRIMINATION POLICIES AS MIAMI-DADE COUNTY SCHOOL DISTRICT BOARD.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 4
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE E, LINE 6
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO PROVIDE STUDENTS WITH A COMPREHENSIVE INTERNATIONAL EDUCATION THROUGH THE USE OF TECHNOLOGY AND LANGUAGE ACQUISITION, SO THAT STUDENTS WILL BECOME LIFE-LONG INQUISITIVE LEARNERS AND UTILIZE THIS KNOWLEDGE ACROSS INTERNATIONAL BOUNDARIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE PRINCIPAL AND BOARD OF DIRECTORS REVIEW THE FORM 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD MEMBERS ARE REQUIRED TO COMPLETE A STATE OF FLORIDA FORM 8B MEMORANDUM OF VOTING CONFLICT WHEN A CONFLICT OF INTEREST IS BROUGHT UP AT A BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS REVIEWS THE ANNUAL COMPENSATION OF OTHER COMPARABLE PRINCIPALS IN THE STATE OF FLORIDA AND IN MIAMI-DADE COUNTY, AS A BASIS FOR DETERMINEING COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILBLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01174689
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt04608737
IRS990/TotalFunctionalExpensesGrp/TotalAmt05783426
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt05839306
IRS990/TotalVolunteersCnt014
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IRS990/TravelGrp/ProgramServicesAmt01517
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IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01080 LABARON DRIVE
IRS990/USAddress/CityNm0MIAMI SPRINGS
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd033166
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.AIECHARTERSCHOOL.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0VERA A HIRSH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRINCIPAL
ReturnHeader/BusinessOfficerGrp/PhoneNum03058833900
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-03-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MIAMI-DADE FOUNDATION FOR
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0EDUCATIONAL INNOVATION INC
ReturnHeader/Filer/BusinessNameControlTxt0MIAM
ReturnHeader/Filer/EIN0452690728
ReturnHeader/Filer/PhoneNum03058833900
ReturnHeader/Filer/USAddress/AddressLine1Txt01080 LABARON DRIVE
ReturnHeader/Filer/USAddress/CityNm0MIAMI SPRINGS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd033166
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SOTOLONGO & ASSOCIATES PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt08231 SW 29 STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MIAMI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd033155
ReturnHeader/PreparerPersonGrp/PhoneNum03057765778
ReturnHeader/PreparerPersonGrp/PreparationDt02021-03-10
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0EMIL SOTOLONGO CPA
ReturnHeader/ReturnTs02021-03-12T11:23:35-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-07-01
ReturnHeader/TaxPeriodEndDt02020-06-30

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