Civic Intelligence

Galaxy Education Inc.

990 • Fiscal year 2017 • EIN 45-3533747

Jul 01, 2016 to Jun 30, 2017 • Filed on Nov 03, 2017

Organization ProfileWWW.DISCOVERYACADEMY.INFO
1380 Pinehurst RoadDunedin, FL 34698

(727) 330-2424

Siviq Scores

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

Liabilities / Assets

78th percentile

0.44x

Higher debt load relative to assets than 78% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

42nd percentile

0.07x

Higher debt load relative to revenue than 42% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

52nd percentile

3.8%

Higher net margin than 52% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

91st percentile

53%

Faster asset growth than 91% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

92nd percentile

93%

Faster revenue growth than 92% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets78th percentile

Assets

Up

$340,833

Up $117,855 (+53%) from 2016

Net Assets

Up

$189,982

Up $86,613 (+84%) from 2016

Liabilities

Up

$150,851

Up $31,242 (+26%) from 2016

Revenue And Expenses
Liabilities / Revenue42nd percentileNet Margin52nd percentile

Revenue

Up

$2,283,860

Up $1,097,959 (+93%) from 2016

Expenses

Up

$2,197,247

Up $1,088,601 (+98%) from 2016

Net Income

Up

$86,613

Up $9,358 (+12%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth91st percentile

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

$20M$15M$10M$5.0M$0-$5.0MAssets 2014: $29,754Liabilities 2014: $30,241Net Assets 2014: -$4872014Assets 2015: $84,144Liabilities 2015: $58,030Net Assets 2015: $26,1142015Assets 2016: $222,978Liabilities 2016: $119,609Net Assets 2016: $103,3692016Assets 2017: $340,833Liabilities 2017: $150,851Net Assets 2017: $189,9822017Assets 2018: $824,307Liabilities 2018: $144,875Net Assets 2018: $679,4322018Assets 2019: $940,750Liabilities 2019: $134,853Net Assets 2019: $805,8972019Assets 2020: $1,551,931Liabilities 2020: $632,136Net Assets 2020: $919,7952020Assets 2021: $1,791,975Liabilities 2021: $219,941Net Assets 2021: $1,572,0342021Assets 2022: $1,906,413Liabilities 2022: $197,400Net Assets 2022: $1,709,0132022Assets 2023: $2,859,857Liabilities 2023: $1,272,547Net Assets 2023: $1,587,3102023Assets 2024: $17,661,814Liabilities 2024: $15,776,163Net Assets 2024: $1,885,6512024Assets 2025: $17,902,829Liabilities 2025: $15,588,978Net Assets 2025: $2,313,8512025

Highlighted filing

2017

Assets$340,833
Liabilities$150,851
Net Assets$189,982
Open 2017 Filing

Operations Trend

Revenue Growth92nd percentile

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

$10M$5.0M$0-$5.0MRevenue 2014: $815,445Expenses 2014: $815,932Net Income 2014: -$4872014Revenue 2015: $1,104,224Expenses 2015: $1,077,623Net Income 2015: $26,6012015Revenue 2016: $1,185,901Expenses 2016: $1,108,646Net Income 2016: $77,2552016Revenue 2017: $2,283,860Expenses 2017: $2,197,247Net Income 2017: $86,6132017Revenue 2018: $3,409,607Expenses 2018: $2,920,157Net Income 2018: $489,4502018Revenue 2019: $3,682,339Expenses 2019: $3,555,874Net Income 2019: $126,4652019Revenue 2020: $4,024,640Expenses 2020: $3,910,742Net Income 2020: $113,8982020Revenue 2021: $5,006,406Expenses 2021: $4,354,167Net Income 2021: $652,2392021Revenue 2022: $4,731,890Expenses 2022: $4,594,911Net Income 2022: $136,9792022Revenue 2023: $5,645,423Expenses 2023: $5,767,126Net Income 2023: -$121,7032023Revenue 2024: $7,678,201Expenses 2024: $7,379,860Net Income 2024: $298,3412024Revenue 2025: $8,693,506Expenses 2025: $8,265,306Net Income 2025: $428,2002025

Highlighted filing

2017

Revenue$2,283,860
Expenses$2,197,247
Net Income$86,613
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Nov 3, 2017
Return Version
2016v3.0
Gross Receipts
$2,283,860
Mission and Program Overview

Mission

To operate a charter school in pinellas county, florida.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$121,733$188,893▲ $67,160
Rtn Earn Endowment Incm Other Fnds$74,344$122,371▲ $48,027
Land, Buildings, and Equipment, Net$93,034$109,834▲ $16,800
Pd in Cap Srpls Land Bldg Eqp Fund$29,025$67,611▲ $38,586
Accounts Receivable$3,761$24,856▲ $21,095
Prepaid Expenses and Deferred Charges$4,450$17,250▲ $12,800
Total Assets$222,978$340,833▲ $117,855
Liabilities
Accounts Payable and Accrued Expenses$48,600$108,628▲ $60,028
Mortgage Notes Payable Secured by Investment Property$64,009$42,223▼ $21,786
Unsecured Notes Loans Payable$7,000--
Total Liabilities$119,609$150,851▲ $31,242
Net Assets / Fund Balance
Total Net Assets Fund Balance$103,369$189,982▲ $86,613
Total Liabilities and Net Assets / Fund Balance$222,978$340,833▲ $117,855

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$19,849$251-
Other Land Buildings$43,539$26,124-
Equipment$19,316$20,350-
Leasehold Improvements$27,130$3,113-
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Fatih DemirPresident
Agron ElmaziMember
Dr Derya YildirimMember
Dr Fethullah CaliskanMember
Dr Emre AkbabaPrincipal
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,209,554
Investment Income
$0
Other Revenue
$74,306
Change in Net Assets
$86,613
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,197,247
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$469,461$24,710$0$494,171
Other Expenses$151,517$151,516$0$303,033
Depreciation Depletion$32,330$0$0$32,330
Interest$4,599$0$0$4,599
Total Functional Expenses$1,935,176$262,071$0$2,197,247
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Yankee Candle$10,519$10,519$4,747$5,772
Total Events$10,519$10,519$4,747$5,772
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 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
Galaxy Education Inc
EIN
45-3533747
Phone
7273302424
Address
1380 PINEHURST ROAD, DUNEDIN, FL 34698

Signing Officer

Name
Fatih Demir
Title
President
Phone
7273302424
Signed
2017-11-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Fatih Demir
Formed
2011
Legal Domicile
Fl
Voting Board Members
4
Independent Board Members
4
Employees
42
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 noard 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.”

Form 990, Part IX, Line 24E

“Facilities and rent 147092. 147092. 0. 0.”

Form 990, Part IX, Line 24E

“Fiscal services 65514. 65514. 0. 0.”

Form 990, Part IX, Line 24E

“Food services 13510. 13510. 0. 0.”

Form 990, Part IX, Line 24E

“Operation of plant 126827. 126827. 0. 0.”

Form 990, Part IX, Line 24E

“Maintenance of plant 59342. 59342. 0. 0.”

Form 990, Part IX, Line 24E

“Community services 49999. 49999. 0. 0.”

Form 990, Part IX, Line 24E

“Central services 7177. 7177. 0. 0.”

Form 990, Part IX, Line 24E

“Board 24710. 0. 24710. 0.”

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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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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1RECEIVES GRANTS THROUGH THE FLORIDA DEPT OF EDUCATION.
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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 NOARD 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.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4FISCAL SERVICES 65514. 65514. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5FOOD SERVICES 13510. 13510. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6OPERATION OF PLANT 126827. 126827. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7MAINTENANCE OF PLANT 59342. 59342. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8COMMUNITY SERVICES 49999. 49999. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9CENTRAL SERVICES 7177. 7177. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10BOARD 24710. 0. 24710. 0.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part IX, Line 24e
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc10Form 990, Part IX, Line 24e
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0222978
IRS990/TotalAssetsEOYAmt0340833
IRS990/TotalAssetsGrp/BOYAmt0222978
IRS990/TotalAssetsGrp/EOYAmt0340833
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt042
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0262071
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01935176
IRS990/TotalFunctionalExpensesGrp/TotalAmt02197247
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0119609
IRS990/TotalLiabilitiesEOYAmt0150851
IRS990/TotalLiabilitiesGrp/BOYAmt0119609
IRS990/TotalLiabilitiesGrp/EOYAmt0150851
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0103369
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0189982
IRS990/TotalProgramServiceExpensesAmt01935176
IRS990/TotalProgramServiceRevenueAmt02209554
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02283860
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02283860
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0222978
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0340833
IRS990/TransactionWithControlEntInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt07000
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01380 PINEHURST ROAD
IRS990/USAddress/CityNm0DUNEDIN
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd034698
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.DISCOVERYACADEMY.INFO
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-03-14 21:41:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0FATIH DEMIR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07273302424
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-11-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GALAXY EDUCATION INC
ReturnHeader/Filer/BusinessNameControlTxt0GALA
ReturnHeader/Filer/EIN0453533747
ReturnHeader/Filer/PhoneNum07273302424
ReturnHeader/Filer/USAddress/AddressLine1Txt01380 PINEHURST ROAD
ReturnHeader/Filer/USAddress/CityNm0DUNEDIN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd034698
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId037D01614BBCBDEC9C1CEABF1223555DD313F2831
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId037D01614BBCBDEC9C1CEABF1223555DD313F2831
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt047.205.11.235
ReturnHeader/FilingSecurityInformation/IPDt02017-11-06
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0PS
ReturnHeader/FilingSecurityInformation/IPTm006:05:58
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Robert Walker CPA PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02803 W Busch Blvd Ste 106
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Tampa
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd033618
ReturnHeader/PreparerPersonGrp/PhoneNum08136248643
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ROBERT WALKER CPA
ReturnHeader/ReturnTs02017-11-06T06:06:07-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-07-01
ReturnHeader/TaxPeriodEndDt02017-06-30
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$340,833
Liabilities
$150,851
Net assets
$189,982
Revenue
$2,283,860
Expenses
$2,197,247
Net income
$86,613
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$17.9$15.6$2.31$8.69$8.27$0.43
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$17.7$15.8$1.89$7.68$7.38$0.30
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.86$1.27$1.59$5.65$5.77$0.12
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.91$0.20$1.71$4.73$4.59$0.14
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.79$0.22$1.57$5.01$4.35$0.65
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.55$0.63$0.92$4.02$3.91$0.11
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.94$0.13$0.81$3.68$3.56$0.13
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.82$0.14$0.68$3.41$2.92$0.49
2017Detailed filing. Detailed filing data is available for this year.$0.34$0.15$0.19$2.28$2.20$0.09
2016Detailed filing. Detailed filing data is available for this year.$0.22$0.12$0.10$1.19$1.11$0.08
2015Detailed filing. Detailed filing data is available for this year.$0.08$0.06$0.03$1.10$1.08$0.03
2014Detailed filing. Detailed filing data is available for this year.$0.03$0.03$0.00$0.82$0.82$0.00