Civic Intelligence

Galaxy Education Inc.

990 • Fiscal year 2018 • EIN 45-3533747

Jul 01, 2017 to Jun 30, 2018 • Filed on Oct 25, 2018

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

61st percentile

0.18x

Higher debt load relative to assets than 61% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

35th percentile

0.04x

Higher debt load relative to revenue than 35% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

72nd percentile

14%

Higher net margin than 72% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

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.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

97th percentile

142%

Faster asset growth than 97% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

87th percentile

49%

Faster revenue growth than 87% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets61st percentile

Assets

Up

$824,307

Up $483,474 (+142%) from 2017

Net Assets

Up

$679,432

Up $489,450 (+258%) from 2017

Liabilities

Down

$144,875

Down $5,976 (-4.0%) from 2017

Revenue And Expenses
Liabilities / Revenue35th percentileNet Margin72nd percentile

Revenue

Up

$3,409,607

Up $1,125,747 (+49%) from 2017

Expenses

Up

$2,920,157

Up $722,910 (+33%) from 2017

Net Income

Up

$489,450

Up $402,837 (+465%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth97th 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

2018

Assets$824,307
Liabilities$144,875
Net Assets$679,432
Open 2018 Filing

Operations Trend

Revenue Growth87th 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

2018

Revenue$3,409,607
Expenses$2,920,157
Net Income$489,450
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Oct 25, 2018
Return Version
2017v2.2
Gross Receipts
$3,417,232
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$188,893$687,851▲ $498,958
Rtn Earn Endowment Incm Other Fnds$122,371$609,954▲ $487,583
Land, Buildings, and Equipment, Net$109,834$87,992▼ $21,842
Pd in Cap Srpls Land Bldg Eqp Fund$67,611$69,478▲ $1,867
Prepaid Expenses and Deferred Charges$17,250$26,850▲ $9,600
Accounts Receivable$24,856$21,614▼ $3,242
Total Assets$340,833$824,307▲ $483,474
Liabilities
Accounts Payable and Accrued Expenses$108,628$126,361▲ $17,733
Mortgage Notes Payable Secured by Investment Property$42,223$18,514▼ $23,709
Total Liabilities$150,851$144,875▼ $5,976
Net Assets / Fund Balance
Total Net Assets Fund Balance$189,982$679,432▲ $489,450
Total Liabilities and Net Assets / Fund Balance$340,833$824,307▲ $483,474

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$17,839$2,261-
Other Land Buildings$5,949--
Equipment$35,728$77,765-
Leasehold Improvements$28,476$6,367-
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
$2,945,481
Investment Income
$0
Other Revenue
$464,126
Change in Net Assets
$489,450
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,920,157
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$547,684$32,830$0$580,514
Other Expenses$242,397$242,397$0$484,794
Depreciation Depletion$36,555$0$0$36,555
Interest$2,676$0$0$2,676
Total Functional Expenses$2,610,742$309,415$0$2,920,157
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$17,516
Fundraising Direct Expenses$7,625
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fall Fundraiser$17,516$17,516$7,625$9,891
Total Events$17,516$17,516$7,625$9,891
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
Doing Business As
Discovery Academy of Science

Signing Officer

Name
Fatih Demir
Title
President
Phone
7273302424
Signed
2018-10-25
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
52
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 204966. 204966. 0. 0.”

Form 990, Part IX, Line 24E

“Fiscal services 83445. 83445. 0. 0.”

Form 990, Part IX, Line 24E

“Food services 10877. 10877. 0. 0.”

Form 990, Part IX, Line 24E

“Operation of plant 139472. 139472. 0. 0.”

Form 990, Part IX, Line 24E

“Maintenance of plant 45831. 45831. 0. 0.”

Form 990, Part IX, Line 24E

“Community services 46523. 46523. 0. 0.”

Form 990, Part IX, Line 24E

“Central services 16570. 16570. 0. 0.”

Form 990, Part IX, Line 24E

“Board 32830. 0. 32830. 0.”

Financial Statement Notes

Pt X, Line 2

“The school is exempt from federal tax under section 501(c)(3) of the internalrevenue code. Accordingly, no provision for income taxes has been included inthe accompanying financial statements. Additionally, no uncertain tax positionshave been made requiring disclosure in the related note to financial statements.the schools income tax returns for the past three years are subject toexamination by tax authorities and may change upon examination.”

Raw XML Appendix365 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL IS EXEMPT FROM FEDERAL TAX UNDER SECTION 501(C)(3) OF THE INTERNALREVENUE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN INCLUDED INTHE ACCOMPANYING FINANCIAL STATEMENTS. ADDITIONALLY, NO UNCERTAIN TAX POSITIONSHAVE BEEN MADE REQUIRING DISCLOSURE IN THE RELATED NOTE TO FINANCIAL STATEMENTS.THE SCHOOLS INCOME TAX RETURNS FOR THE PAST THREE YEARS ARE SUBJECT TOEXAMINATION BY TAX AUTHORITIES AND MAY CHANGE UPON EXAMINATION.
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IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt017516
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt017516
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt09891
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt07625
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt07625
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FACILITIES AND RENT 204966. 204966. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4FISCAL SERVICES 83445. 83445. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5FOOD SERVICES 10877. 10877. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6OPERATION OF PLANT 139472. 139472. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7MAINTENANCE OF PLANT 45831. 45831. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8COMMUNITY SERVICES 46523. 46523. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9CENTRAL SERVICES 16570. 16570. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10BOARD 32830. 0. 32830. 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/TotalAssetsBOYAmt0340833
IRS990/TotalAssetsEOYAmt0824307
IRS990/TotalAssetsGrp/BOYAmt0340833
IRS990/TotalAssetsGrp/EOYAmt0824307
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt052
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0309415
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02610742
IRS990/TotalFunctionalExpensesGrp/TotalAmt02920157
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0150851
IRS990/TotalLiabilitiesEOYAmt0144875
IRS990/TotalLiabilitiesGrp/BOYAmt0150851
IRS990/TotalLiabilitiesGrp/EOYAmt0144875
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0189982
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0679432
IRS990/TotalProgramServiceExpensesAmt02610742
IRS990/TotalProgramServiceRevenueAmt02945481
IRS990/TotalRevenueGrp/ExclusionAmt09891
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt03399716
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03409607
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0340833
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0824307
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
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/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0FATIH DEMIR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07273302424
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-10-25
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/IPv4AddressTxt047.205.12.198
ReturnHeader/FilingSecurityInformation/IPDt02018-10-31
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0PD
ReturnHeader/FilingSecurityInformation/IPTm008:48:58
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/ReturnTs02018-10-31T08:49:06-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$824,307
Liabilities
$144,875
Net assets
$679,432
Revenue
$3,409,607
Expenses
$2,920,157
Net income
$489,450
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
2018Detailed filing. Detailed filing data is available for this year.$0.82$0.14$0.68$3.41$2.92$0.49
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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