Civic Intelligence

Boulware Springs Charter School

990 • Fiscal year 2021 • EIN 46-0617894

Jul 01, 2020 to Jun 30, 2021 • Filed on Nov 07, 2021

1303 NE 23rd AvenueGainesville, FL 32609

(352) 244-9732

Siviq Scores

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

Liabilities / Assets

44th percentile

0.04x

Higher debt load relative to assets than 44% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

32nd percentile

0.02x

Higher debt load relative to revenue than 32% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

57th percentile

16%

Higher net margin than 57% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

63rd percentile

$85,387

Higher top officer pay than 63% of similar nonprofits.

Top officer pay equals 5.1% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

44th percentile

6.4%

Faster asset growth than 44% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

59th percentile

21%

Faster revenue growth than 59% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Up

$1,005,113

Up $60,186 (+6.4%) from 2020

Net Assets

Up

$963,773

Up $274,756 (+40%) from 2020

Liabilities

Down

$41,340

Down $214,570 (-84%) from 2020

Revenue

Up

$1,667,165

Up $286,029 (+21%) from 2020

Expenses

Up

$1,392,409

Up $108,872 (+8.5%) from 2020

Net Income

Up

$274,756

Up $177,157 (+182%) from 2020

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2014: $199,516Liabilities 2014: $20,541Net Assets 2014: $178,9752014Assets 2015: $350,142Liabilities 2015: $18,644Net Assets 2015: $331,4982015Assets 2016: $381,392Liabilities 2016: $11,304Net Assets 2016: $370,0882016Assets 2017: $578,354Liabilities 2017: $170,021Net Assets 2017: $408,3332017Assets 2019: $701,247Liabilities 2019: $109,829Net Assets 2019: $591,4182019Assets 2020: $944,927Liabilities 2020: $255,910Net Assets 2020: $689,0172020Assets 2021: $1,005,113Liabilities 2021: $41,340Net Assets 2021: $963,7732021Assets 2022: $1,357,722Liabilities 2022: $449,345Net Assets 2022: $908,3772022Assets 2025: $1,969,408Liabilities 2025: $1,114,816Net Assets 2025: $854,5922025

Highlighted filing

2021

Assets$1,005,113
Liabilities$41,340
Net Assets$963,773

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2014: $290,639Expenses 2014: $106,350Net Income 2014: $184,2892014Revenue 2015: $1,158,640Expenses 2015: $1,006,117Net Income 2015: $152,5232015Revenue 2016: $1,408,771Expenses 2016: $1,370,181Net Income 2016: $38,5902016Revenue 2017: $1,176,061Expenses 2017: $1,137,816Net Income 2017: $38,2452017Revenue 2019: $1,315,294Expenses 2019: $1,232,834Net Income 2019: $82,4602019Revenue 2020: $1,381,136Expenses 2020: $1,283,537Net Income 2020: $97,5992020Revenue 2021: $1,667,165Expenses 2021: $1,392,409Net Income 2021: $274,7562021Revenue 2022: $1,756,361Expenses 2022: $1,709,434Net Income 2022: $46,9272022Revenue 2025: $2,037,781Expenses 2025: $2,071,329Net Income 2025: -$33,5482025

Highlighted filing

2021

Revenue$1,667,165
Expenses$1,392,409
Net Income$274,756
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Nov 7, 2021
Return Version
2020v4.1
Gross Receipts
$1,667,165
Mission and Program Overview

Mission

Boulware springs charter offers a high quality education that focuses on the "4 rs" - respect, responsibility, being a role model, and reaching for the stars. At boulware, students are expected to respect their peers and adults, be responsible for their actions and words, set a good example for other inside and outside of school, and respond to challenging learning with perseverance and enthusiasm.

Boulware Springs Charter School is a public, not-for-profit charter school located in Gainesville, FL, that serves kindergarten through fifth grade students in Alachua County.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$475,170$558,613▲ $83,443
Land, Buildings, and Equipment, Net$261,945$249,114▼ $12,831
Savings and Temporary Cash Investments$160,501$160,687▲ $186
Prepaid Expenses and Deferred Charges$36,867$28,231▼ $8,636
Accounts Receivable$4,744$2,768▼ $1,976
Total Assets$944,927$1,005,113▲ $60,186
Other Assets Total$5,700$5,700→ $0
Liabilities
Unsecured Notes Loans Payable$184,900--
Mortgage Notes Payable Secured by Investment Property$66,333$33,547▼ $32,786
Accounts Payable and Accrued Expenses$4,677$7,793▲ $3,116
Total Liabilities$255,910$41,340▼ $214,570
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$689,017$963,773▲ $274,756
Total Net Assets Fund Balance$689,017$963,773▲ $274,756
Total Liabilities and Net Assets / Fund Balance$944,927$1,005,113▲ $60,186

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$209,394$70,753$280,147
Equipment$33,659$104,123$137,782
Other Land Buildings-$11,350$11,350
Leasehold Improvements$6,061$1,845$7,906
Other Assets Org$5,700--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Kay AbbittDirectorFT$85,387$85,387

Board Members and Trustees

NameTitle
Audrey SommerBoard Member
Caroline ParkerBoard Member
Cassie MaciasBoard Member
Cindy BoulwareBoard Member
Kathy FranksBoard Member
Megan LaneBoard Member
Steve BradfordBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$1,613,351
Program Service Revenue
$53,628
Investment Income
$186
Other Revenue
$0
All Other Contributions
$7,013
Change in Net Assets
$274,756

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,667,165
Total Revenue per Audited Statements
$1,667,165
Total Revenue per Form 990
$1,667,165
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,030,357
Other Expenses$362,052
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$843,715$4,556-$848,271
Occupancy$117,661$5,986-$123,647
Current Officers, Directors, Trustees, and Key Employees$86,580$4,557-$91,137
Payroll Taxes$71,036$696-$71,732
Depreciation Depletion$30,136$1,586-$31,722
Information Technology$23,421$3-$23,424
Insurance$21,990$763-$22,753
Fees for Services Other$15,163$4,603-$19,766
Fees for Services Accounting-$19,491-$19,491
Pension Plan Contributions$15,405$94-$15,499
Office Expenses$12,813$633-$13,446
Other Expenses$11,204$590-$11,794
Travel$5,200$39-$5,239
Other Employee Benefits$3,718--$3,718
Interest$2,193$115-$2,308
Fees for Services Legal-$58-$58
Total Functional Expenses$1,346,479$45,930$0$1,392,409

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,392,409
Total Expenses per Audited Statements$1,392,409
Total Expenses per Form 990$1,392,409
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Kay AbbittDirectorLease of BuildingNo$76,950
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Officer directors etc family relationship Part VI line 2

Kay Abbitt, Director and Megan Lane, Board Member. Family relationship.

Committee meeting documentation Part VI line 8B

There are no committees with authority to act on behalf of the Board of Directors.

Form 990 governing body review Part VI line 11

The Form 990 is prepared by the CPA and reviewed by the Director of the school. It is also shared at a board meeting with our Board of Directors.

Conflict of interest policy compliance Part VI line 12C

All Board Members must report any conflict of interest and sign a form annually stating that they are aware of the conflict of interest policy and abide by it.

CEO executive director top management comp Part VI line 15A

The process for determining compensation for the Executive Director is:1.) Reviewed and approved by the Board of Directors and included in the meeting minutes.2.) The Board of Directors uses data as to comparable compensation to determine salary and raises. 3.) Changes in director salary are documented in the board meeting minutes.

Governing documents etc available to public Part VI line 19

Boulware Springs has governing documents and financial statements on the website and have copies available in our office. We also provide copies upon request.

Filing and Contact Details

Filer

Filer Name
Boulware Springs Charter School Inc
EIN
46-0617894
Address
1303 NE 23rd Avenue, Gainesville, FL 32609

Signing Officer

Name
Kay Abbitt
Title
Director
Phone
3522449732
Signed
2021-11-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kay Abbitt
Formed
2012
Legal Domicile
Fl
Voting Board Members
8
Independent Board Members
8
Employees
27
Volunteers
14

Preparer

Firm
Kattell and Company PL
Address
808-B NW 16th Ave, Gainesville, FL 32601
Preparer
Stephen H Kattell
Phone
3523956565
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt035390
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt118238
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt01340678
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt01051
IRS990/PYOtherExpensesAmt0319018
IRS990/PYProgramServiceRevenueAmt039407
IRS990/PYRevenuesLessExpensesAmt097599
IRS990/PYSalariesCompEmpBnftPaidAmt0964519
IRS990/PYTotalExpensesAmt01283537
IRS990/PYTotalRevenueAmt01381136
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0274756
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt053628
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0160501
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0160687
IRS990ScheduleA/SchoolInd0X
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt0209394
IRS990ScheduleD/BuildingsGrp/DepreciationAmt070753
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0280147
IRS990ScheduleD/EquipmentGrp/BookValueAmt033659
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0104123
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0137782
IRS990ScheduleD/ExpensesSubtotalAmt01392409
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt06061
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt01845
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt07906
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt05700
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Deposits
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt011350
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt011350
IRS990ScheduleD/RevenueSubtotalAmt01667165
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0249114
IRS990ScheduleD/TotalBookValueOtherAssetsAmt05700
IRS990ScheduleD/TotalExpensesPerForm990Amt01392409
IRS990ScheduleD/TotalRevenuePerForm990Amt01667165
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01667165
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01392409
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
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/ExplanationTxt0Revenues for operations are received primarily from the Alachua County District School Board (The District) pursuant to the funding provisions included in the Schools charter. In accordance with the funding provisions of the charter and Florida statues, the School reports the number of full-time equivalent (FTE) students and related data to the Florida Department of Education (FDOE) for funding through the Florida Education Finance Program. Funding for the School is adjusted during the year to reflect the revised calculation by the FDOE under the FEFP and the actual weighted FTE students reported by the School during the designated FTE student survey periods.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1The nondiscriminatory policy is stated specifically in the schools bylaws and in the contract with the local school board. The policy is also stated on the schools website.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Governmental Agency Financial Aid (Questions 6a and 6b)
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Description of nondiscriminatory policy (Question 3)
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0Kay Abbitt
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0Director
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt076950
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0Lease of Building
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0The School leases its facility from ABC Appletree, Inc. which is owned by Kay Abbitt, Director and her husband.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0Supplemental Information for Schedule L
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Kay Abbitt, Director and Megan Lane, Board Member. Family relationship.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1There are no committees with authority to act on behalf of the Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Form 990 is prepared by the CPA and reviewed by the Director of the school. It is also shared at a board meeting with our Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3All Board Members must report any conflict of interest and sign a form annually stating that they are aware of the conflict of interest policy and abide by it.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The process for determining compensation for the Executive Director is:1.) Reviewed and approved by the Board of Directors and included in the meeting minutes.2.) The Board of Directors uses data as to comparable compensation to determine salary and raises. 3.) Changes in director salary are documented in the board meeting minutes.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Boulware Springs has governing documents and financial statements on the website and have copies available in our office. We also provide copies upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Officer directors etc family relationship Part VI line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Committee meeting documentation Part VI line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Governing documents etc available to public Part VI line 19
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0944927
IRS990/TotalAssetsEOYAmt01005113
IRS990/TotalAssetsGrp/BOYAmt0944927
IRS990/TotalAssetsGrp/EOYAmt01005113
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01613351
IRS990/TotalEmployeeCnt027
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt045930
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01346479
IRS990/TotalFunctionalExpensesGrp/TotalAmt01392409
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0255910
IRS990/TotalLiabilitiesEOYAmt041340
IRS990/TotalLiabilitiesGrp/BOYAmt0255910
IRS990/TotalLiabilitiesGrp/EOYAmt041340
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0689017
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0963773
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01346479
IRS990/TotalProgramServiceRevenueAmt053628
IRS990/TotalReportableCompFromOrgAmt085387
IRS990/TotalRevenueGrp/ExclusionAmt0186
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt053628
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01667165
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt014
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0944927
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01005113
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt039
IRS990/TravelGrp/ProgramServicesAmt05200
IRS990/TravelGrp/TotalAmt05239
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0184900
IRS990/UponRequestInd0X

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