Civic Intelligence

Firm Foundation Academy

990 • Fiscal year 2020 • EIN 46-3388400

Jan 01, 2020 to Dec 31, 2020 • Filed on Oct 20, 2021

5400 Tech Data DriveClearwater, FL 33760-3116

(727) 789-0100

Siviq Scores

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

Liabilities / Assets

19th percentile

0.00x

Higher debt load relative to assets than 19% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

17th percentile

0.00x

Higher debt load relative to revenue than 17% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

25th percentile

-7.4%

Higher net margin than 25% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

16th percentile

-4.3%

Faster asset growth than 16% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

29th percentile

-13%

Faster revenue growth than 29% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Assets

Down

$1,019,955

Down $45,603 (-4.3%) from 2019

Net Assets

Down

$1,018,544

Down $45,603 (-4.3%) from 2019

Liabilities

Flat

$1,411

Flat from 2019

Revenue

Down

$616,613

Down $93,865 (-13%) from 2019

Expenses

Down

$662,216

Down $138,933 (-17%) from 2019

Net Income

Up

-$45,603

Up $45,068 (+50%) from 2019

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2013: $147,829Liabilities 2013: $0Net Assets 2013: $147,8292013Assets 2014: $251,734Liabilities 2014: $0Net Assets 2014: $251,7342014Assets 2015: $282,058Liabilities 2015: $0Net Assets 2015: $282,0582015Assets 2016: $1,353,470Liabilities 2016: $3,171Net Assets 2016: $1,350,2992016Assets 2017: $1,316,770Liabilities 2017: $1,411Net Assets 2017: $1,315,3592017Assets 2018: $1,156,229Liabilities 2018: $1,411Net Assets 2018: $1,154,8182018Assets 2019: $1,065,558Liabilities 2019: $1,411Net Assets 2019: $1,064,1472019Assets 2020: $1,019,955Liabilities 2020: $1,411Net Assets 2020: $1,018,5442020

Highlighted filing

2020

Assets$1,019,955
Liabilities$1,411
Net Assets$1,018,544

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2013: $306,000Expenses 2013: $158,171Net Income 2013: $147,8292013Revenue 2014: $436,001Expenses 2014: $332,096Net Income 2014: $103,9052014Revenue 2015: $354,001Expenses 2015: $323,677Net Income 2015: $30,3242015Revenue 2016: $1,550,001Expenses 2016: $481,760Net Income 2016: $1,068,2412016Revenue 2017: $601,997Expenses 2017: $636,937Net Income 2017: -$34,9402017Revenue 2018: $405,291Expenses 2018: $565,832Net Income 2018: -$160,5412018Revenue 2019: $710,478Expenses 2019: $801,149Net Income 2019: -$90,6712019Revenue 2020: $616,613Expenses 2020: $662,216Net Income 2020: -$45,6032020

Highlighted filing

2020

Revenue$616,613
Expenses$662,216
Net Income-$45,603
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Oct 20, 2021
Return Version
2020v4.1
Gross Receipts
$616,613
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
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$1,064,147$1,018,544▼ $45,603
Land, Buildings, and Equipment, Net$1,002,891$965,562▼ $37,329
Cash and Non-Interest-Bearing Accounts$57,700$31,803▼ $25,897
Prepaid Expenses and Deferred Charges$4,967$22,590▲ $17,623
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$1,065,558$1,019,955▼ $45,603
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$1,064,147$1,018,544▼ $45,603
Total Liabilities and Net Assets / Fund Balance$1,065,558$1,019,955▼ $45,603

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$940,624$286,972$1,227,596
Other Land Buildings$0$267,055$267,055
Equipment$24,938$103,552$128,490
Compensation and Service Providers

Board Members and Trustees

NameTitle
Gilbert HakimChairman
Chad JonesSecretary
Armin HakimTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$601,215
Program Service Revenue
$13,698
Investment Income
$0
Other Revenue
$1,700
All Other Contributions
$601,215
Change in Net Assets
$-45,603
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$662,216
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
Occupancy-$85,180-$85,180
Information Technology$70,923--$70,923
Office Expenses-$65,977-$65,977
Depreciation Depletion-$37,329-$37,329
Other Expenses$9,427$12,900-$9,427
Fees for Services Accounting-$6,621-$6,621
All Other Expenses-$4,451-$4,451
Insurance-$4,307-$4,307
Fees for Services Management-$3,641-$3,641
Fees for Services Other-$1,373-$1,373
Advertising$785--$785
Travel-$616-$616
Total Functional Expenses$418,609$243,607$0$662,216
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
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. 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
2021-10-20
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
0
Volunteers
0

Preparer

Firm
PDR CPAS Advisors
Address
4023 Tampa Road Suite 2000, Oldsmar, FL 34677
Preparer
Jay E Wadsworth
Phone
7277854447
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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/Desc0Firm 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/MissionDesc0Firm 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/ExplanationTxt0Our non-discrimination policy is permanently published on our website.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Mr 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. 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/ExplanationTxt1The 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/ExplanationTxt2Form 990 is reviewed at a regularly scheduled board meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
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IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01065558
IRS990/TotalAssetsEOYAmt01019955
IRS990/TotalAssetsGrp/BOYAmt01065558
IRS990/TotalAssetsGrp/EOYAmt01019955
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0601215
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0243607
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0418609
IRS990/TotalFunctionalExpensesGrp/TotalAmt0662216
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01411
IRS990/TotalLiabilitiesEOYAmt01411
IRS990/TotalLiabilitiesGrp/BOYAmt01411
IRS990/TotalLiabilitiesGrp/EOYAmt01411
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01064147
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01018544
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0418609
IRS990/TotalProgramServiceRevenueAmt013698
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt015398
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0616613
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01065558
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01019955
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt0616
IRS990/TravelGrp/TotalAmt0616
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt05400 Tech Data Drive
IRS990/USAddress/CityNm0Clearwater
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd033760
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0Firm-Foundation.org
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Gilbert Hakim
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Chairman
ReturnHeader/BusinessOfficerGrp/PhoneNum07277890100
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-10-20
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Firm Foundation Academy
ReturnHeader/Filer/BusinessNameControlTxt0FIRM
ReturnHeader/Filer/EIN0463388400
ReturnHeader/Filer/PhoneNum07277890100
ReturnHeader/Filer/USAddress/AddressLine1Txt05400 Tech Data Drive
ReturnHeader/Filer/USAddress/CityNm0Clearwater
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd0337603116
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0591687531
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PDR CPAS Advisors
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt04023 Tampa Road Suite 2000
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Oldsmar
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd034677
ReturnHeader/PreparerPersonGrp/PhoneNum07277854447
ReturnHeader/PreparerPersonGrp/PreparationDt02021-10-20
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Jay E Wadsworth
ReturnHeader/ReturnTs02021-11-03T13:08:38-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Gilbert
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Hakim
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

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