Civic Intelligence

Galaxy Education Inc.

990 • Fiscal year 2019 • EIN 45-3533747

Jul 01, 2018 to Jun 30, 2019 • Filed on Oct 25, 2019

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

59th percentile

0.14x

Higher debt load relative to assets than 59% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

35th percentile

0.04x

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

51st percentile

3.4%

Higher net margin than 51% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

73rd percentile

14%

Faster asset growth than 73% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

59th percentile

8.0%

Faster revenue growth than 59% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets59th percentile

Assets

Up

$940,750

Up $116,443 (+14%) from 2018

Net Assets

Up

$805,897

Up $126,465 (+19%) from 2018

Liabilities

Down

$134,853

Down $10,022 (-6.9%) from 2018

Revenue And Expenses
Liabilities / Revenue35th percentileNet Margin51st percentile

Revenue

Up

$3,682,339

Up $272,732 (+8.0%) from 2018

Expenses

Up

$3,555,874

Up $635,717 (+22%) from 2018

Net Income

Down

$126,465

Down $362,985 (-74%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth73rd 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

2019

Assets$940,750
Liabilities$134,853
Net Assets$805,897
Open 2019 Filing

Operations Trend

Revenue Growth59th 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

2019

Revenue$3,682,339
Expenses$3,555,874
Net Income$126,465
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Oct 25, 2019
Return Version
2018v3.1
Gross Receipts
$3,682,339
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$687,851$760,422▲ $72,571
Rtn Earn Endowment Incm Other Fnds$609,954$713,837▲ $103,883
Land, Buildings, and Equipment, Net$87,992$92,060▲ $4,068
Pd in Cap Srpls Land Bldg Eqp Fund$69,478$92,060▲ $22,582
Prepaid Expenses and Deferred Charges$26,850$54,455▲ $27,605
Pledges and Grants Receivable-$20,101-
Accounts Receivable$21,614$13,712▼ $7,902
Total Assets$824,307$940,750▲ $116,443
Liabilities
Accounts Payable and Accrued Expenses$126,361$134,853▲ $8,492
Mortgage Notes Payable Secured by Investment Property$18,514--
Total Liabilities$144,875$134,853▼ $10,022
Net Assets / Fund Balance
Total Net Assets Fund Balance$679,432$805,897▲ $126,465
Total Liabilities and Net Assets / Fund Balance$824,307$940,750▲ $116,443

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$15,829$4,271-
Other Land Buildings$5,510--
Equipment$12,842$105,325-
Leasehold Improvements$57,879$12,844-
Compensation and Service Providers
Top Officer Pay36th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,528,746
Investment Income
$0
Other Revenue
$153,593
Change in Net Assets
$126,465

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,682,339
Total Revenue per Audited Statements
$3,682,339
Total Revenue per Form 990
$3,682,339
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,555,874
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$1,051,051$295,035$0$1,346,086
Depreciation Depletion$36,047$0$0$36,047
Other Expenses$0$33,187$0$33,187
Interest$1,275$0$0$1,275
Total Functional Expenses$3,227,652$328,222$0$3,555,874

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,555,874
Total Expenses per Audited Statements$3,555,874
Total Expenses per Form 990$3,555,874
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
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
2019-10-25
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
65
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

“General administration 34759. 0. 34759. 0.”

Form 990, Part IX, Line 24E

“School administration 520553. 260277. 260276. 0.”

Form 990, Part IX, Line 24E

“Facilities 297411. 297411. 0. 0.”

Form 990, Part IX, Line 24E

“Fiscal services 84380. 84380. 0. 0.”

Form 990, Part IX, Line 24E

“Food services 13471. 13471. 0. 0.”

Form 990, Part IX, Line 24E

“Central services 17177. 17177. 0. 0.”

Form 990, Part IX, Line 24E

“Operation of plant 275135. 275135. 0. 0.”

Form 990, Part IX, Line 24E

“Maintenance of plant 35780. 35780. 0. 0.”

Form 990, Part IX, Line 24E

“Community services 67420. 67420. 0. 0.”

Financial Statement Notes

Pt X, Line 2

“The School is exempt from Federal tax under Section 501(c)(3) of the Internal Revenue Code. Accordingly, no provision for income taxes has been included in the accompanying financial statements. Additionally, no uncertain tax positions have been made requiring disclosure in the related note to financial statements. The Schools income tax returns for the past three years are subject to examination by tax authorities and may change upon examination.”

Raw XML Appendix381 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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IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0RECEIVES GRANTS THROUGH THE FLORIDA DEPT OF EDUCATION.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1STATES EQUAL OPPORTUNITY ON WEBSITE AND BROCHURE. NA
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Line 6b
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Line 3
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/ExplanationTxt3GENERAL ADMINISTRATION 34759. 0. 34759. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4SCHOOL ADMINISTRATION 520553. 260277. 260276. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5FACILITIES 297411. 297411. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6FISCAL SERVICES 84380. 84380. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7FOOD SERVICES 13471. 13471. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8CENTRAL SERVICES 17177. 17177. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9OPERATION OF PLANT 275135. 275135. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10MAINTENANCE OF PLANT 35780. 35780. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11COMMUNITY SERVICES 67420. 67420. 0. 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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc11Form 990, Part IX, Line 24e
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0824307
IRS990/TotalAssetsEOYAmt0940750
IRS990/TotalAssetsGrp/BOYAmt0824307
IRS990/TotalAssetsGrp/EOYAmt0940750
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt065
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0328222
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03227652
IRS990/TotalFunctionalExpensesGrp/TotalAmt03555874
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0144875
IRS990/TotalLiabilitiesEOYAmt0134853
IRS990/TotalLiabilitiesGrp/BOYAmt0144875
IRS990/TotalLiabilitiesGrp/EOYAmt0134853
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0679432
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0805897
IRS990/TotalProgramServiceExpensesAmt03227652
IRS990/TotalProgramServiceRevenueAmt03528746
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt03682339
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03682339
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0824307
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0940750
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
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/BuildTS02020-01-14 16:20:31Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0FATIH DEMIR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07273302424
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-10-25
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/AtSubmissionCreationDeviceId0FB376FAB3A7E3C5A6552704C6A17D646AE5621DA
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId08E8E7B9784344D338D4B9A41E18433BD010F8CB0
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt047.205.1.229
ReturnHeader/FilingSecurityInformation/IPDt02019-10-25
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0PD
ReturnHeader/FilingSecurityInformation/IPTm009:11:53
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/ReturnTs02019-10-25T09:12:02-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$940,750
Liabilities
$134,853
Net assets
$805,897
Revenue
$3,682,339
Expenses
$3,555,874
Net income
$126,465
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
2019Detailed filing. Detailed filing data is available for this year.$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
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