Liabilities / Assets
19th percentile
Higher debt load relative to assets than 19% of similar nonprofits.
Firm Foundation Academy
990 • Fiscal year 2019 • EIN 46-3388400
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.00x
Liabilities / Revenue
18th percentile
Higher debt load relative to revenue than 18% of similar nonprofits.
Net Margin
18th percentile
Higher net margin than 18% of similar nonprofits.
Top Officer Pay
37th percentile
Higher top officer pay than 37% of similar nonprofits.
Top officer pay equals 0.8% of source-year revenue.
Asset Growth
14th percentile
Faster asset growth than 14% of similar nonprofits.
Revenue Growth
91st percentile
Faster revenue growth than 91% of similar nonprofits.
Balance Sheet
Assets
Down$1,065,558
Down $90,671 (-7.8%) from 2018
Net Assets
Down$1,064,147
Down $90,671 (-7.9%) from 2018
Liabilities
Flat$1,411
Flat from 2018
Revenue And Expenses
Revenue
Up$710,478
Up $305,187 (+75%) from 2018
Expenses
Up$801,149
Up $235,317 (+42%) from 2018
Net Income
Up-$90,671
Up $69,870 (+44%) from 2018
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2019 to Dec 31, 2019
- Signed
- Jun 17, 2020
- Return Version
- 2019v5.1
- Gross Receipts
- $710,478
Mission and Program Overview
Mission
Firm Foundation Academy is a non-profit educational software company operating an experimental post-secondary school to test and refine its educational software. Our school and our technologies are aimed at one very specific niche of education: the application of technology to achieve more effective study of great literature.
To facilitate education of individuals.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Rtn Earn Endowment Incm Other Fnds | $1,154,818 | $1,064,147 | ▼ $90,671 |
| Land, Buildings, and Equipment, Net | $1,103,373 | $1,002,891 | ▼ $100,482 |
| Cash and Non-Interest-Bearing Accounts | $45,422 | $57,700 | ▲ $12,278 |
| Prepaid Expenses and Deferred Charges | $7,434 | $4,967 | ▼ $2,467 |
| Pd in Cap Srpls Land Bldg Eqp Fund | $0 | $0 | → $0 |
| Cap Stk Tr Prin Current Funds | $0 | $0 | → $0 |
| Total Assets | $1,156,229 | $1,065,558 | ▼ $90,671 |
| Liabilities | |||
| Accounts Payable and Accrued Expenses | $1,411 | $1,411 | → $0 |
| Total Liabilities | $1,411 | $1,411 | → $0 |
| Net Assets / Fund Balance | |||
| Total Net Assets Fund Balance | $1,154,818 | $1,064,147 | ▼ $90,671 |
| Total Liabilities and Net Assets / Fund Balance | $1,156,229 | $1,065,558 | ▼ $90,671 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Leasehold Improvements | $967,776 | $259,820 | $1,227,596 |
| Other Land Buildings | $201 | $266,854 | $267,055 |
| Equipment | $34,914 | $93,576 | $128,490 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Total |
|---|---|---|---|---|
| Ghazala Jones | Program Director | FT | $5,885 | $5,885 |
Board Members and Trustees
| Name | Title |
|---|---|
| Gilbert Hakim | Chairman |
| Chad Jones | Secretary |
| Armin Hakim | Treasurer |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $703,476
- Program Service Revenue
- $6,010
- Investment Income
- $1
- Other Revenue
- $991
- All Other Contributions
- $703,476
- Change in Net Assets
- $-90,671
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $794,306 |
| Salaries, Compensation, and Employee Benefits | $6,700 |
| Grants and Similar Amounts Paid | $143 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Information Technology | $323,952 | - | - | $323,952 |
| Depreciation Depletion | - | $175,771 | - | $175,771 |
| Occupancy | - | $125,691 | - | $125,691 |
| Fees for Services Management | - | $46,126 | - | $46,126 |
| Office Expenses | - | $23,090 | - | $23,090 |
| All Other Expenses | $2,944 | $14,454 | - | $17,398 |
| Insurance | - | $12,686 | - | $12,686 |
| Other Salaries and Wages | $2,943 | $2,942 | - | $5,885 |
| Other Expenses | - | $5,043 | - | $5,043 |
| Fees for Services Legal | - | $4,742 | - | $4,742 |
| Travel | - | $3,141 | - | $3,141 |
| Fees for Services Accounting | - | $2,500 | - | $2,500 |
| Advertising | $2,407 | - | - | $2,407 |
| Fees for Services Other | - | $2,199 | - | $2,199 |
| Payroll Taxes | $408 | $407 | - | $815 |
| Grants to Domestic Orgs | $143 | - | - | $143 |
| Total Functional Expenses | $332,797 | $468,352 | $0 | $801,149 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| 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
- 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 A, line 2
“Mr Gilbert Hakim, the founder and incorporator of Firm Foundation Academy, is also the founder and CEO of Soft Computer Consultants and RCM Enterprise Services, Inc. Mr. Armin Hakim has a business relationship with Mr Gilbert Hakim. He is a paid employee of SCC Soft Computer. He is the V.P. of Administration. Mr. Chad Jones is a paid employee of SCC Resources as a Web Developer. Mr. Jones is the brother-in-law of Ghazala Jones. In addition, Mr. Armin Hakim's vehicle leasing company, NuCap Resources, has a contractual agreement with SCC Soft Computer. SCC Soft Computer leases vehicles for business purposes from NuCap Resources. Mr. Armin Hakim also serves as a Board member to various other companies owned by Mr. Gilbert Hakim. These positions are non-paying and Armin Hakim is not compensated in any way for these roles and responsibilites: Unity Captive Insurance LTD, NobleActs LLC, Golden Age Foundation.”
Form 990, Part VI, Section A, line 7A
“The normal election time for members of the Board of Directors shall be during the annual meeting of the Board of Directors. Each Director shall serve for a term of 5 years. Officers shall be appointed in accordance with these Bylaws. Each Director, including a Director elected to fill a vacancy, shall hold office until the expiration of the term for which he or she was elected and until the election and qualification of a successor, or until that Director's earlier resignation or removal in accordance with these Bylaws and California Nonprofit Corporation Law. By resolution, the Board may arrange for terms to be staggered.”
Form 990, Part VI, Section B, line 11B
“Form 990 is reviewed at a regularly scheduled board meeting.”
Form 990, Part VI, Section C, line 19
“The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.”
Filing and Contact Details
Filer
- Filer Name
- Firm Foundation Academy
- EIN
- 46-3388400
- Phone
- 7277890100
- Address
- 5400 Tech Data Drive, Clearwater, FL 33760-3116
Signing Officer
- Name
- Gilbert Hakim
- Title
- Chairman
- Phone
- 7277890100
- Signed
- 2020-06-17
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Gilbert Hakim
- Formed
- 2013
- Legal Domicile
- CA
- Voting Board Members
- 3
- Independent Board Members
- 3
- Employees
- 1
- Volunteers
- 0
Preparer
- Firm
- PDR CPAS Advisors
- Address
- 4023 Tampa Road Suite 2000, Oldsmar, FL 34677
- Preparer
- Jay E Wadsworth
- Phone
- 7277854447
Raw XML Appendix374 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/Desc | 0 | Firm Foundation Academy is a singular academic experience with one goal for our students: significantly improve their ability to read and think. We fuse traditional teaching methods with technological innovations to foster a rich learning environment. Students are given a tablet to use during their stay, equipped with our uniquely engineered FFA Reader Software. Through academic exploration, our students will learn how to develop and defend an argument as well as cultivate strong listening, reading and critical thinking skills. |
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| IRS990/MissionDesc | 0 | Firm Foundation Academy is a non-profit educational software company operating an experimental post-secondary school to test and refine its educational software. Our school and our technologies are aimed at one very specific niche of education: the application of technology to achieve more effective study of great literature. |
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| IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt | 0 | Our non-discrimination policy is permanently published on our website. |
| IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Schedule E, Part I, Line 3 |
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| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | Mr Gilbert Hakim, the founder and incorporator of Firm Foundation Academy, is also the founder and CEO of Soft Computer Consultants and RCM Enterprise Services, Inc. Mr. Armin Hakim has a business relationship with Mr Gilbert Hakim. He is a paid employee of SCC Soft Computer. He is the V.P. of Administration. Mr. Chad Jones is a paid employee of SCC Resources as a Web Developer. Mr. Jones is the brother-in-law of Ghazala Jones. In addition, Mr. Armin Hakim's vehicle leasing company, NuCap Resources, has a contractual agreement with SCC Soft Computer. SCC Soft Computer leases vehicles for business purposes from NuCap Resources. Mr. Armin Hakim also serves as a Board member to various other companies owned by Mr. Gilbert Hakim. These positions are non-paying and Armin Hakim is not compensated in any way for these roles and responsibilites: Unity Captive Insurance LTD, NobleActs LLC, Golden Age Foundation. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | The normal election time for members of the Board of Directors shall be during the annual meeting of the Board of Directors. Each Director shall serve for a term of 5 years. Officers shall be appointed in accordance with these Bylaws. Each Director, including a Director elected to fill a vacancy, shall hold office until the expiration of the term for which he or she was elected and until the election and qualification of a successor, or until that Director's earlier resignation or removal in accordance with these Bylaws and California Nonprofit Corporation Law. By resolution, the Board may arrange for terms to be staggered. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | Form 990 is reviewed at a regularly scheduled board meeting. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Form 990, Part VI, Section A, line 2 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Form 990, Part VI, Section A, line 7a |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | Form 990, Part VI, Section B, line 11b |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | Form 990, Part VI, Section C, line 19 |
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| ReturnHeader/BuildTS | 0 | 2021-01-29 14:40:06Z |
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| ReturnHeader/BusinessOfficerGrp/PersonNm | 0 | Gilbert Hakim |
| ReturnHeader/BusinessOfficerGrp/PersonTitleTxt | 0 | Chairman |
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| ReturnHeader/FilingSecurityInformation/IPTm | 0 | 09:07:20 |
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| ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt | 0 | PDR CPAS Advisors |
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| ReturnHeader/PreparerPersonGrp/PreparationDt | 0 | 2020-06-08 |
| ReturnHeader/PreparerPersonGrp/PreparerPersonNm | 0 | Jay E Wadsworth |
| ReturnHeader/ReturnTs | 0 | 2020-07-07T15:19:17-05:00 |
| ReturnHeader/ReturnTypeCd | 0 | 990 |
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Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2019 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $1,065,558
- Liabilities
- $1,411
- Net assets
- $1,064,147
- Revenue
- $710,478
- Expenses
- $801,149
- Net income
- -$90,671