Civic Intelligence

Beacon College Prep Inc.

990 • Fiscal year 2017 • EIN 46-1615260

Jul 01, 2016 to Jun 30, 2017 • Filed on May 10, 2017

Organization ProfileWWW.BEACONPRIDE.ORG
125 E San Marino DriveMiami Beach, FL 33139

(305) 905-5418

Siviq Scores

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

Liabilities / Assets

94th percentile

1.15x

Higher debt load relative to assets than 94% of similar nonprofits.

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

Liabilities / Revenue

55th percentile

0.13x

Higher debt load relative to revenue than 55% of similar nonprofits.

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

Net Margin

63rd percentile

8.5%

Higher net margin than 63% of similar nonprofits.

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

Top Officer Pay

69th percentile

$101,050

Higher top officer pay than 69% of similar nonprofits.

Top officer pay equals 3.5% of source-year revenue.

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

Asset Growth

2nd percentile

-48%

Faster asset growth than 2% of similar nonprofits.

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

Revenue Growth

77th percentile

25%

Faster revenue growth than 77% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets94th percentile

Assets

Down

$320,268

Down $293,929 (-48%) from 2016

Net Assets

Up

-$47,928

Up $222,213 (+82%) from 2016

Liabilities

Down

$368,196

Down $516,142 (-58%) from 2016

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin63rd percentile

Revenue

Up

$2,909,251

Up $584,546 (+25%) from 2016

Expenses

Up

$2,663,190

Up $114,035 (+4.5%) from 2016

Net Income

Up

$246,061

Up $470,511 (+210%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth2nd percentile

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

$15M$10M$5.0M$0-$5.0MAssets 2014: $90,098Liabilities 2014: $484,9172014Assets 2015: $534,234Liabilities 2015: $579,925Net Assets 2015: -$45,6912015Assets 2016: $614,197Liabilities 2016: $884,338Net Assets 2016: -$270,1412016Assets 2017: $320,268Liabilities 2017: $368,196Net Assets 2017: -$47,9282017Assets 2018: $1,128,647Liabilities 2018: $561,645Net Assets 2018: $567,0022018Assets 2019: $12,067,237Liabilities 2019: $11,908,194Net Assets 2019: $159,0432019Assets 2020: $12,249,047Liabilities 2020: $12,531,200Net Assets 2020: -$282,1532020Assets 2021: $12,193,654Liabilities 2021: $12,024,216Net Assets 2021: $169,4382021Assets 2022: $12,042,342Liabilities 2022: $11,896,557Net Assets 2022: $145,7852022Assets 2023: $11,012,070Liabilities 2023: $11,889,513Net Assets 2023: -$877,4432023Assets 2024: $11,657,201Liabilities 2024: $11,961,495Net Assets 2024: -$304,2942024

Highlighted filing

2017

Assets$320,268
Liabilities$368,196
Net Assets-$47,928
Open 2017 Filing

Operations Trend

Revenue Growth77th percentile

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

$10M$5.0M$0-$5.0MRevenue 2014: $0Expenses 2014: $227,135Net Income 2014: -$227,1352014Revenue 2015: $1,695,234Expenses 2015: $1,345,954Net Income 2015: $349,2802015Revenue 2016: $2,324,705Expenses 2016: $2,549,155Net Income 2016: -$224,4502016Revenue 2017: $2,909,251Expenses 2017: $2,663,190Net Income 2017: $246,0612017Revenue 2018: $3,979,623Expenses 2018: $3,364,693Net Income 2018: $614,9302018Revenue 2019: $6,369,250Expenses 2019: $6,826,959Net Income 2019: -$457,7092019Revenue 2020: $6,277,761Expenses 2020: $6,718,957Net Income 2020: -$441,1962020Revenue 2021: $7,064,402Expenses 2021: $6,723,091Net Income 2021: $341,3112021Revenue 2022: $6,882,360Expenses 2022: $6,906,013Net Income 2022: -$23,6532022Revenue 2023: $6,888,459Expenses 2023: $7,911,687Net Income 2023: -$1,023,2282023Revenue 2024: $6,690,082Expenses 2024: $6,190,387Net Income 2024: $499,6952024

Highlighted filing

2017

Revenue$2,909,251
Expenses$2,663,190
Net Income$246,061
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 10, 2017
Return Version
2016v3.1
Gross Receipts
$2,909,251
Mission and Program Overview

Mission

To lead elementary students to superior academic achievement, cultivate their talents and interests, and foster admirable character traits to build strong foundations that empower their success to-and-through college.

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Loans From Officers Directors$375,000--
Land, Buildings, and Equipment, Net$222,551$145,655▼ $76,896
Cash and Non-Interest-Bearing Accounts$102,885$127,405▲ $24,520
Prepaid Expenses and Deferred Charges$8,254$18,862▲ $10,608
Pledges and Grants Receivable$261,958$9,796▼ $252,162
Total Assets$614,198$320,268▼ $293,930
Other Assets Total$18,550$18,550→ $0
Liabilities
Other Liabilities$485,059$344,856▼ $140,203
Accounts Payable and Accrued Expenses$24,280$23,340▼ $940
Total Liabilities$884,339$368,196▼ $516,143
Net Assets / Fund Balance
Unrestricted Net Assets$-270,141$-47,928▲ $222,213
Total Net Assets Fund Balance$-270,141$-47,928▲ $222,213
Total Liabilities and Net Assets / Fund Balance$614,198$320,268▼ $293,930

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$81,965$100,347$182,312
Other Land Buildings$52,442$30,862$83,304
Leasehold Improvements$11,248$14,544$25,792
Other Assets Org$18,550--
Compensation and Service Providers
Top Officer Pay69th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Patrick EvansFounding PriFT$101,050$101,050
John FlickingerDev. ConsultPT$5,833$5,833

Board Members and Trustees

NameTitle
Jeffrey MillerPresident
Patrick N Range IiDirector
Melissa E KrinzmanSecretary
Octavio VerdejaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,908,348
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$903
All Other Contributions
$2,908,348
Change in Net Assets
$246,061

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,909,251
Total Revenue per Audited Statements
$2,909,251
Total Revenue per Form 990
$2,909,251
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,474,900
Other Expenses$1,188,290
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,135,651$3,531-$1,139,182
Occupancy$313,614--$313,614
Fees for Services Other$219,414$21,298-$240,712
Payroll Taxes$130,727$25,104-$155,831
Current Officers, Directors, Trustees, and Key Employees$64,130$42,753-$106,883
Depreciation Depletion$79,624$13,367-$92,991
Other Employee Benefits$67,178$5,826-$73,004
All Other Expenses$40,582$1,174-$41,756
Insurance$33,283$5,310-$38,593
Information Technology$37,656--$37,656
Other Expenses$35,261--$35,261
Office Expenses$28,504$2,231-$30,735
Travel$19,290$804-$20,094
Advertising$2,190$17,274-$19,464
Interest-$18,880-$18,880
Fees for Services Accounting-$14,065-$14,065
Total Functional Expenses$2,491,573$171,617$0$2,663,190

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,663,190
Total Expenses per Audited Statements$2,663,190
Total Expenses per Form 990$2,663,190
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
Loans from Officers, Directors, Trustees, and Key Employees$375,000--
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Building Hope$220,000
Salaries, Benefits & Payroll Taxes$124,856
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
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
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Copy of the tax return is provided to the governing body before it is filed for their review.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Beacon College Prep Inc
EIN
46-1615260
Phone
3059055418
Address
125 E SAN MARINO DRIVE, MIAMI BEACH, FL 33139

Signing Officer

Name
Octavio Verdeja
Title
Treasurer
Phone
3054463177
Signed
2017-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeffrey Miller
Formed
2012
Legal Domicile
Fl
Voting Board Members
4
Independent Board Members
4
Employees
50
Volunteers
20

Preparer

Firm
Sharff Wittmer Kurtz Jackson & Diaz Pa
Address
4627 PONCE DE LEON BLVD, CORAL GABLES, FL 33146-2130
Preparer
Luis E Diaz CPA
Phone
3056667229
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4A

“School with over 94% of parents and students indicating "very strong" support for our academic programs.”

Form 990, Page 2, Part III, Line 4D

“Beacon college prep completed its third year of operations in 2016-17. The school increased its enrollment to over 300 students and added a 4th grade as anticipated and planned. Enrollment goals were met without any active recruitment and waitlists were established for each grade level demonstrating the need for and popularity of the program. Students demonstrated significant academic gains as measured by the florida state assessment and the school improved its school grade from a "d" to a "c". The culture of the school continues to solidify and improve with great gains being made with respect to staff buy-in and teach satisfaction as demonstrated by a 100% retention rate of teachers for 2017-18. Students and parents satisfaction surveys continue to show overwhelming support for the school with over 94% of parents and students indicating "very strong" support for our academic programs.”

Form 990, Part XI

“The school had not been accruing interest on a 2014 long-term note to a related party prior to the 2016-2017 fiscal year. Consequently, the school's change in net position for the year ended june 30, 2016 was understated by 12,075 and the school's net position and total fund balance as of june 30, 2016 were overstated by 23,848. Accordingly, 23,848 was adjusted in 2017 to restate the net position and fund balance as of the beginning of the year.”

Form 990, Part XI, Line 9

“-23,848”

Raw XML Appendix391 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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IRS990/ProgSrvcAccomActyOtherGrp/Desc0BEACON COLLEGE PREP COMPLETED ITS THIRD YEAR OF OPERATIONS IN 2016-17. THE SCHOOL INCREASED ITS ENROLLMENT TO OVER 300 STUDENTS AND ADDED A 4TH GRADE AS ANTICIPATED AND PLANNED. ENROLLMENT GOALS WERE MET WITHOUT ANY ACTIVE RECRUITMENT AND WAITLISTS WERE ESTABLISHED FOR EACH GRADE LEVEL DEMONSTRATING THE NEED FOR AND POPULARITY OF THE PROGRAM. STUDENTS DEMONSTRATED SIGNIFICANT ACADEMIC GAINS AS MEASURED BY THE FLORIDA STATE ASSESSMENT AND THE SCHOOL IMPROVED ITS SCHOOL GRADE FROM A "D" TO A "C". THE CULTURE OF THE SCHOOL CONTINUES TO SOLIDIFY AND IMPROVE WITH GREAT GAINS BEING MADE WITH RESPECT TO STAFF BUY-IN AND TEACH SATISFACTION AS DEMONSTRATED BY A 100% RETENTION RATE OF TEACHERS FOR 2017-18. STUDENTS AND PARENTS SATISFACTION SURVEYS CONTINUE TO SHOW OVERWHELMING SUPPORT FOR THE SCHOOL WITH OVER 94% OF PARENTS AND STUDENTS INDICATING "VERY STRONG" SUPPORT FOR OUR ACADEMIC PROGRAMS.
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IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
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IRS990ScheduleE/DiscriminateRaceSchsInd0false
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IRS990ScheduleE/MaintainScholarshipsRecsInd0true
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0BEACON COLLEGE PREP ADMITS QUALIFIED STUDENTS, IRRESPECTIVE OF RACE, COLOR, RELIGION, SEX, NATIONAL ORIGIN, SEXUAL ORIENTATION OR DISABILITY. ALL STUDENTS ARE AFFORDED THE RIGHTS, PRIVILEGES, PROGRAMS, AND ACTIVITIES GENERALLY ACCORDED OR MADE AVAILABLE TO BEACON COLLEGE PREP STUDENTS. THE SCHOOL DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, RELIGION, SEX, NATIONAL ORIGIN, SEXUAL ORIENTATION OR DISABILITY IN THE ADMINISTRATION OF ITS EDUCATIONAL PROGRAM, ADMISSION, FINANCIAL AID AND LOANS, ATHLETIC OR OTHER SCHOOL POLICIES.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SCHOOL WITH OVER 94% OF PARENTS AND STUDENTS INDICATING "VERY STRONG" SUPPORT FOR OUR ACADEMIC PROGRAMS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BEACON COLLEGE PREP COMPLETED ITS THIRD YEAR OF OPERATIONS IN 2016-17. THE SCHOOL INCREASED ITS ENROLLMENT TO OVER 300 STUDENTS AND ADDED A 4TH GRADE AS ANTICIPATED AND PLANNED. ENROLLMENT GOALS WERE MET WITHOUT ANY ACTIVE RECRUITMENT AND WAITLISTS WERE ESTABLISHED FOR EACH GRADE LEVEL DEMONSTRATING THE NEED FOR AND POPULARITY OF THE PROGRAM. STUDENTS DEMONSTRATED SIGNIFICANT ACADEMIC GAINS AS MEASURED BY THE FLORIDA STATE ASSESSMENT AND THE SCHOOL IMPROVED ITS SCHOOL GRADE FROM A "D" TO A "C". THE CULTURE OF THE SCHOOL CONTINUES TO SOLIDIFY AND IMPROVE WITH GREAT GAINS BEING MADE WITH RESPECT TO STAFF BUY-IN AND TEACH SATISFACTION AS DEMONSTRATED BY A 100% RETENTION RATE OF TEACHERS FOR 2017-18. STUDENTS AND PARENTS SATISFACTION SURVEYS CONTINUE TO SHOW OVERWHELMING SUPPORT FOR THE SCHOOL WITH OVER 94% OF PARENTS AND STUDENTS INDICATING "VERY STRONG" SUPPORT FOR OUR ACADEMIC PROGRAMS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COPY OF THE TAX RETURN IS PROVIDED TO THE GOVERNING BODY BEFORE IT IS FILED FOR THEIR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE SCHOOL HAD NOT BEEN ACCRUING INTEREST ON A 2014 LONG-TERM NOTE TO A RELATED PARTY PRIOR TO THE 2016-2017 FISCAL YEAR. CONSEQUENTLY, THE SCHOOL'S CHANGE IN NET POSITION FOR THE YEAR ENDED JUNE 30, 2016 WAS UNDERSTATED BY 12,075 AND THE SCHOOL'S NET POSITION AND TOTAL FUND BALANCE AS OF JUNE 30, 2016 WERE OVERSTATED BY 23,848. ACCORDINGLY, 23,848 WAS ADJUSTED IN 2017 TO RESTATE THE NET POSITION AND FUND BALANCE AS OF THE BEGINNING OF THE YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5-23,848
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02491573
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IRS990/TotalLiabilitiesBOYAmt0884339
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-47928
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02909251
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IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0OCTAVIO VERDEJA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum03054463177
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-05-10
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt04627 PONCE DE LEON BLVD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CORAL GABLES
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ReturnHeader/PreparerPersonGrp/PhoneNum03056667229
ReturnHeader/PreparerPersonGrp/PreparationDt02018-05-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LUIS E DIAZ CPA
ReturnHeader/ReturnTs02018-05-14T15:43:39-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-07-01
ReturnHeader/TaxPeriodEndDt02017-06-30
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$320,268
Liabilities
$368,196
Net assets
-$47,928
Revenue
$2,909,251
Expenses
$2,663,190
Net income
$246,061
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$11.7$12.0$0.30$6.69$6.19$0.50
2023Detailed filing. Detailed filing data is available for this year.$11.0$11.9$0.88$6.89$7.91$1.02
2022Detailed filing. Detailed filing data is available for this year.$12.0$11.9$0.15$6.88$6.91$0.02
2021Detailed filing. Detailed filing data is available for this year.$12.2$12.0$0.17$7.06$6.72$0.34
2020Detailed filing. Detailed filing data is available for this year.$12.2$12.5$0.28$6.28$6.72$0.44
2019Detailed filing. Detailed filing data is available for this year.$12.1$11.9$0.16$6.37$6.83$0.46
2018Detailed filing. Detailed filing data is available for this year.$1.13$0.56$0.57$3.98$3.36$0.61
2017Detailed filing. Detailed filing data is available for this year.$0.32$0.37$0.05$2.91$2.66$0.25
2016Detailed filing. Detailed filing data is available for this year.$0.61$0.88$0.27$2.32$2.55$0.22
2015Detailed filing. Detailed filing data is available for this year.$0.53$0.58$0.05$1.70$1.35$0.35
2014Summary only. Only limited summary data is available for this year.$0.09$0.48$0.00$0.23$0.23