Civic Intelligence

Delray Students First Inc

990 • Fiscal year 2023 • EIN 45-4916115

Jan 01, 2023 to Dec 31, 2023 • Filed on Apr 01, 2024

Organization Profilewww.weareboundforcollege.org
1730 S Federal Highway Suite 297Delray Beach, FL 33483

(561) 819-9907

Siviq Scores

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

Liabilities / Assets

58th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

59th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

74th percentile

21%

Higher net margin than 74% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

91st percentile

$46,223

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 10.4% of source-year revenue.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

75th percentile

23%

Faster asset growth than 75% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

66th percentile

20%

Faster revenue growth than 66% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets58th percentile

Assets

Up

$483,450

Up $91,293 (+23%) from 2022

Net Assets

Up

$483,450

Up $93,231 (+24%) from 2022

Liabilities

Down

$0

Down $1,938 (-100%) from 2022

Revenue And Expenses
Liabilities / Revenue59th percentileNet Margin74th percentile

Revenue

Up

$445,040

Up $75,486 (+20%) from 2022

Expenses

Up

$351,809

Up $46,380 (+15%) from 2022

Net Income

Up

$93,231

Up $29,106 (+45%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth75th percentile

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

$800K$600K$400K$200K$0Assets 2015: $14,061Liabilities 2015: $02015Assets 2016: $228,885Liabilities 2016: $5,067Net Assets 2016: $223,8182016Assets 2017: $162,351Liabilities 2017: $2,873Net Assets 2017: $159,4782017Assets 2018: $86,545Liabilities 2018: $0Net Assets 2018: $86,5452018Assets 2019: $216,464Liabilities 2019: $4,800Net Assets 2019: $211,6642019Assets 2020: $252,071Liabilities 2020: $0Net Assets 2020: $252,0712020Assets 2021: $326,094Liabilities 2021: $0Net Assets 2021: $326,0942021Assets 2022: $392,157Liabilities 2022: $1,938Net Assets 2022: $390,2192022Assets 2023: $483,450Liabilities 2023: $0Net Assets 2023: $483,4502023Assets 2024: $664,871Liabilities 2024: $0Net Assets 2024: $664,8712024

Highlighted filing

2023

Assets$483,450
Liabilities$0
Net Assets$483,450
Open 2023 Filing

Operations Trend

Revenue Growth66th percentile

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

$800K$600K$400K$200K$0-$200KRevenue 2015: $83,788Expenses 2015: $91,100Net Income 2015: -$7,3122015Revenue 2016: $354,129Expenses 2016: $154,965Net Income 2016: $199,1642016Revenue 2017: $214,062Expenses 2017: $268,675Net Income 2017: -$54,6132017Revenue 2018: $245,439Expenses 2018: $318,628Net Income 2018: -$73,1892018Revenue 2019: $327,885Expenses 2019: $202,367Net Income 2019: $125,5182019Revenue 2020: $296,647Expenses 2020: $256,240Net Income 2020: $40,4072020Revenue 2021: $351,423Expenses 2021: $277,400Net Income 2021: $74,0232021Revenue 2022: $369,554Expenses 2022: $305,429Net Income 2022: $64,1252022Revenue 2023: $445,040Expenses 2023: $351,809Net Income 2023: $93,2312023Revenue 2024: $647,873Expenses 2024: $466,452Net Income 2024: $181,4212024

Highlighted filing

2023

Revenue$445,040
Expenses$351,809
Net Income$93,231
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Apr 1, 2024
Return Version
2023v5.0
Gross Receipts
$445,040
Mission and Program Overview

Mission

Helping economically disadvantaged students reach their full potential by offering ACT/SAT Test Tutoring and Preparation; Field Trips and College Tours; Environmental Education and Community Projects; Swim Lessons; Outdoor Activities and Field Trips; Life Skills Enrichment; Direct Student Support (supplemental funding for medical, travel and other unforeseen college needs) and Group Mentoring.

Our mission at Bound For College is to provide college readiness resources to motivated, underserved students, assisting them academically and financially throughout their educational experience in their quest to reach their full potential.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$159,442$267,312▲ $107,870
Savings and Temporary Cash Investments$99,855$154,988▲ $55,133
Accounts Receivable$35,249$35,234▼ $15
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$392,157$483,450▲ $91,293
Other Assets Total$97,611$25,916▼ $71,695
Liabilities
Accounts Payable and Accrued Expenses$1,938--
Total Liabilities$1,938$0▼ $1,938
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$318,664$405,373▲ $86,709
Net Assets With Donor Restrictions$71,555$78,077▲ $6,522
Total Net Assets Fund Balance$390,219$483,450▲ $93,231
Total Liabilities and Net Assets / Fund Balance$392,157$483,450▲ $91,293

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$25,916--
Compensation and Service Providers
Top Officer Pay91st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Shannon SolisExecutive DirectorPT$46,223$46,223

Board Members and Trustees

NameTitle
Mark SauerChair Emeritis
Jeff MargolisChairman
Ann Pepperresigned 11Director
Cary GlicksteinDirector
Chip DicksonDirector
Jerilyn WaltersDirector
Kelly BaumDirector
Leo RessaDirector
Nick Sadowskyresigned 11Director
Raul ValeroDirector
Donna SauerCFO
Margi GreenfieldSecretary
Michael HlatkiTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$430,823
Program Service Revenue
$0
Investment Income
$14,217
Other Revenue
$0
All Other Contributions
$430,823
Change in Net Assets
$93,231

Audited Revenue Reconciliation

Revenue per Audited Statements
$445,040
Total Revenue per Audited Statements
$445,040
Total Revenue per Form 990
$445,040
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$302,050
Salaries, Compensation, and Employee Benefits$49,759
Total Fundraising Expense$22,919
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$40,285--$40,285
All Other Expenses$11,487$9,526$14,687$35,700
Other Expenses$25,090-$8,152$25,090
Fees for Services Other-$18,794$80$18,874
Fees for Services Accounting-$7,500-$7,500
Other Salaries and Wages$5,938--$5,938
Insurance-$5,550-$5,550
Payroll Taxes$3,536--$3,536
Advertising-$3,078-$3,078
Office Expenses-$2,240-$2,240
Total Functional Expenses$282,202$46,688$22,919$351,809

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$351,809
Total Expenses per Audited Statements$351,809
Total Expenses per Form 990$351,809
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
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
No
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, Part VI, Section B, Line 11B

“Form 990 was sent via email to the governing board, the executive director and the treasurer for review prior to filing.”

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

“The staff, contractual employees, officers and board members are required to sign the conflict of interest statement upon starting service or upon contracting with nonprofits first. The board of directors re-signs the conflict of interest policy each year.”

Form 990, Part VI, Section C, Line 19

“The Organization's governing documents, policies and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Bound For College Inc
EIN
45-4916115
Phone
5618199907
Address
1730 S Federal Highway Suite 297, Delray Beach, FL 33483

Signing Officer

Name
Michael Hlatki
Title
Treasurer
Signed
2024-04-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Hlatki
Formed
2012
Legal Domicile
Fl
Voting Board Members
9
Independent Board Members
9
Employees
1
Volunteers
13

Preparer

Firm
Divine Blalock Martin & Sellari LLC
Address
580 VILLAGE BLVD SUITE 110, WEST PALM BEACH, FL 33409
Preparer
Dustan Brown CPA
Phone
5616861110
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

“: Column (A) - Total = $0; Column (B) - Program Services = $0; Column (C) - Management & General = $0; Column (D) - Fundraising = $0”

Form 990, Part IX, Line 24E

“: Column (A) - Total = $0; Column (B) - Program Services = $0; Column (C) - Management & General = $0; Column (D) - Fundraising = $0”

Form 990, Part IX, Line 24E

“Accreditation: Column (A) - Total = $2100; Column (B) - Program Services = $0; Column (C) - Management & General = $2100; Column (D) - Fundraising = $0”

Form 990, Part IX, Line 24E

“Bank & Merchant Fees: Column (A) - Total = $869; Column (B) - Program Services = $0; Column (C) - Management & General = $869; Column (D) - Fundraising = $0”

Form 990, Part IX, Line 24E

“Dues & Subscriptions: Column (A) - Total = $678; Column (B) - Program Services = $0; Column (C) - Management & General = $678; Column (D) - Fundraising = $0”

Form 990, Part IX, Line 24E

“Fundraising Expenses: Column (A) - Total = $14687; Column (B) - Program Services = $0; Column (C) - Management & General = $0; Column (D) - Fundraising = $14687”

Form 990, Part IX, Line 24E

“License & Permits: Column (A) - Total = $205; Column (B) - Program Services = $0; Column (C) - Management & General = $205; Column (D) - Fundraising = $0”

Form 990, Part IX, Line 24E

“Meal & Entertainment: Column (A) - Total = $1600; Column (B) - Program Services = $0; Column (C) - Management & General = $1600; Column (D) - Fundraising = $0”

Form 990, Part IX, Line 24E

“Meals: Column (A) - Total = $5463; Column (B) - Program Services = $5463; Column (C) - Management & General = $0; Column (D) - Fundraising = $0”

Form 990, Part IX, Line 24E

“Miscellaneous: Column (A) - Total = $1937; Column (B) - Program Services = $0; Column (C) - Management & General = $1937; Column (D) - Fundraising = $0”

Form 990, Part IX, Line 24E

“Payroll Service: Column (A) - Total = $1024; Column (B) - Program Services = $1024; Column (C) - Management & General = $0; Column (D) - Fundraising = $0”

Form 990, Part IX, Line 24E

“Printing and Publications: Column (A) - Total = $667; Column (B) - Program Services = $0; Column (C) - Management & General = $667; Column (D) - Fundraising = $0”

Form 990, Part IX, Line 24E

“Software: Column (A) - Total = $1470; Column (B) - Program Services = $0; Column (C) - Management & General = $1470; Column (D) - Fundraising = $0”

Form 990, Part IX, Line 24E

“Transportation Expense: Column (A) - Total = $5000; Column (B) - Program Services = $5000; Column (C) - Management & General = $0; Column (D) - Fundraising = $0”

Financial Statement Notes

Part X : FIN48 Footnote

“The Organization is exempt from federal & state income taxes as a public charity under Internal Revenue Section 501(c)(3). Income from activities not directly related to the Organization's exempt purpose is subject to taxation at statutory corporate tax rates. There were no income activites unrelated to the Organization's exempt purpose during the current year. Accordingly, no income taxes are provided in the financial statements.Management analyzes tax positions in jurisdictions where it is required to file income tax returns. Interest and penalties attributable to income taxes, if any, are included in operating expenses. Based on its evaluation, management did not identify any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly increase or decrease. No interest or penalties related to income taxes were recorded for the year ended December 31, 2023. The Organization is no longer subject to income tax examination for the fiscal years prior to 2018.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt7CFO
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Certificates of Deposit - Long Term
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Organization is exempt from federal & state income taxes as a public charity under Internal Revenue Section 501(c)(3). Income from activities not directly related to the Organization's exempt purpose is subject to taxation at statutory corporate tax rates. There were no income activites unrelated to the Organization's exempt purpose during the current year. Accordingly, no income taxes are provided in the financial statements.Management analyzes tax positions in jurisdictions where it is required to file income tax returns. Interest and penalties attributable to income taxes, if any, are included in operating expenses. Based on its evaluation, management did not identify any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly increase or decrease. No interest or penalties related to income taxes were recorded for the year ended December 31, 2023. The Organization is no longer subject to income tax examination for the fiscal years prior to 2018.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$483,450
Liabilities
$0
Net assets
$483,450
Revenue
$445,040
Expenses
$351,809
Net income
$93,231
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$6.65$0.00$6.65$6.48$4.66$1.81
2023Detailed filing. Detailed filing data is available for this year.$4.83$0.00$4.83$4.45$3.52$0.93
2022Detailed filing. Detailed filing data is available for this year.$3.92$0.02$3.90$3.70$3.05$0.64
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.26$0.00$3.26$3.51$2.77$0.74
2020Detailed filing. Detailed filing data is available for this year.$2.52$0.00$2.52$2.97$2.56$0.40
2019Detailed filing. Detailed filing data is available for this year.$2.16$0.05$2.12$3.28$2.02$1.26
2018Detailed filing. Detailed filing data is available for this year.$0.87$0.00$0.87$2.45$3.19$0.73
2017Detailed filing. Detailed filing data is available for this year.$1.62$0.03$1.59$2.14$2.69$0.55
2016Summary only. Only limited summary data is available for this year.$2.29$0.05$2.24$3.54$1.55$1.99
2015Summary only. Only limited summary data is available for this year.$0.14$0.00$0.84$0.91$0.07