Liabilities / Assets
33rd percentile
Higher debt load relative to assets than 33% of similar nonprofits.
Firm Foundation Academy
990 • Fiscal year 2021 • EIN 46-3388400
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.00x
Liabilities / Revenue
34th percentile
Higher debt load relative to revenue than 34% of similar nonprofits.
Net Margin
13th percentile
Higher net margin than 13% of similar nonprofits.
Top Officer Pay
52nd percentile
Higher top officer pay than 52% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
13th percentile
Faster asset growth than 13% of similar nonprofits.
Revenue Growth
15th percentile
Faster revenue growth than 15% of similar nonprofits.
Balance Sheet
Assets
Down$938,812
Down $81,143 (-8.0%) from 2020
Net Assets
Down$937,401
Down $81,143 (-8.0%) from 2020
Liabilities
Flat$1,411
Flat from 2020
Revenue And Expenses
Revenue
Down$480,016
Down $136,597 (-22%) from 2020
Expenses
Down$561,159
Down $101,057 (-15%) from 2020
Net Income
Down-$81,143
Down $35,540 (-78%) from 2020
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2021 to Dec 31, 2021
- Signed
- Feb 13, 2023
- Return Version
- 2021v4.2
- Gross Receipts
- $480,016
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 | $1,018,544 | $937,401 | ▼ $81,143 |
| Land, Buildings, and Equipment, Net | $965,562 | $929,178 | ▼ $36,384 |
| Cash and Non-Interest-Bearing Accounts | $31,803 | $6,339 | ▼ $25,464 |
| Prepaid Expenses and Deferred Charges | $22,590 | $3,295 | ▼ $19,295 |
| Pd in Cap Srpls Land Bldg Eqp Fund | $0 | $0 | → $0 |
| Cap Stk Tr Prin Current Funds | $0 | $0 | → $0 |
| Total Assets | $1,019,955 | $938,812 | ▼ $81,143 |
| Liabilities | |||
| Accounts Payable and Accrued Expenses | $1,411 | $1,411 | → $0 |
| Grants Payable | $0 | - | - |
| Total Liabilities | $1,411 | $1,411 | → $0 |
| Net Assets / Fund Balance | |||
| Total Net Assets Fund Balance | $1,018,544 | $937,401 | ▼ $81,143 |
| Total Liabilities and Net Assets / Fund Balance | $1,019,955 | $938,812 | ▼ $81,143 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Leasehold Improvements | $913,507 | $314,089 | $1,227,596 |
| Other Land Buildings | $0 | $267,055 | $267,055 |
| Equipment | $15,671 | $112,819 | $128,490 |
Compensation and Service Providers
Board Members and Trustees
| Name | Title |
|---|---|
| Gilbert Hakim | Chairman |
| Chad Jones | Secretary |
| Armin Hakim | Treasurer |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $479,100
- Program Service Revenue
- $10
- Investment Income
- $0
- Other Revenue
- $906
- All Other Contributions
- $479,100
- Change in Net Assets
- $-81,143
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $561,059 |
| Grants and Similar Amounts Paid | $100 |
| Professional Fundraising Fees | $0 |
| Salaries, Compensation, and Employee Benefits | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Office Expenses | - | $65,826 | - | $65,826 |
| Occupancy | - | $60,170 | - | $60,170 |
| Depreciation Depletion | - | $36,385 | - | $36,385 |
| Information Technology | $31,443 | - | - | $31,443 |
| Insurance | - | $5,478 | - | $5,478 |
| Other Expenses | $327,787 | $4,273 | - | $4,273 |
| Fees for Services Accounting | - | $2,216 | - | $2,216 |
| Fees for Services Other | - | $1,545 | - | $1,545 |
| All Other Expenses | $15 | $1,226 | - | $1,241 |
| Travel | - | $693 | - | $693 |
| Fees for Services Management | - | $139 | - | $139 |
| Grants to Domestic Orgs | $100 | - | - | $100 |
| Total Functional Expenses | $359,345 | $201,814 | $0 | $561,159 |
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
- 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
- 2023-02-13
- 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
Raw XML Appendix349 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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| IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt | 0 | Our non-discrimination policy is permanently published on our website. |
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| IRS990/ScheduleJRequiredInd | 0 | 0 |
| IRS990/ScheduleORequiredInd | 0 | 1 |
| 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. 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 |
| IRS990/SchoolOperatingInd | 0 | 1 |
| IRS990/SignificantChangeInd | 0 | 0 |
| IRS990/SignificantNewProgramSrvcInd | 0 | 0 |
| IRS990/StatesWhereCopyOfReturnIsFldCd | 0 | CA |
| IRS990/SubjectToExcsTaxNetInvstIncInd | 0 | 0 |
| IRS990/SubjectToProxyTaxInd | 0 | 0 |
| IRS990/SubjToTaxRmnrtnExPrchtPymtInd | 0 | 0 |
| IRS990/TaxablePartyNotificationInd | 0 | 0 |
| IRS990/TaxExemptBondsInd | 0 | 0 |
| IRS990/TerminateOperationsInd | 0 | 0 |
| IRS990/TotalAssetsBOYAmt | 0 | 1019955 |
| IRS990/TotalAssetsEOYAmt | 0 | 938812 |
| IRS990/TotalAssetsGrp/BOYAmt | 0 | 1019955 |
| IRS990/TotalAssetsGrp/EOYAmt | 0 | 938812 |
| IRS990/TotalCompGreaterThan150KInd | 0 | 0 |
| IRS990/TotalContributionsAmt | 0 | 479100 |
| IRS990/TotalEmployeeCnt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/FundraisingAmt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt | 0 | 201814 |
| IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt | 0 | 359345 |
| IRS990/TotalFunctionalExpensesGrp/TotalAmt | 0 | 561159 |
| IRS990/TotalGrossUBIAmt | 0 | 0 |
| IRS990/TotalLiabilitiesBOYAmt | 0 | 1411 |
| IRS990/TotalLiabilitiesEOYAmt | 0 | 1411 |
| IRS990/TotalLiabilitiesGrp/BOYAmt | 0 | 1411 |
| IRS990/TotalLiabilitiesGrp/EOYAmt | 0 | 1411 |
| IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt | 0 | 1018544 |
| IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt | 0 | 937401 |
| IRS990/TotalOtherCompensationAmt | 0 | 0 |
| IRS990/TotalProgramServiceExpensesAmt | 0 | 359345 |
| IRS990/TotalProgramServiceRevenueAmt | 0 | 10 |
| IRS990/TotalReportableCompFromOrgAmt | 0 | 0 |
| IRS990/TotalRevenueGrp/ExclusionAmt | 0 | 0 |
| IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 916 |
| IRS990/TotalRevenueGrp/TotalRevenueColumnAmt | 0 | 480016 |
| IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt | 0 | 0 |
| IRS990/TotalVolunteersCnt | 0 | 0 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt | 0 | 1019955 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt | 0 | 938812 |
| IRS990/TotReportableCompRltdOrgAmt | 0 | 0 |
| IRS990/TravelGrp/ManagementAndGeneralAmt | 0 | 693 |
| IRS990/TravelGrp/TotalAmt | 0 | 693 |
| IRS990/TrnsfrExmptNonChrtblRltdOrgInd | 0 | 0 |
| IRS990/TypeOfOrganizationCorpInd | 0 | X |
| IRS990/UnrelatedBusIncmOverLimitInd | 0 | 0 |
| IRS990/UponRequestInd | 0 | X |
| IRS990/USAddress/AddressLine1Txt | 0 | 5400 Tech Data Drive |
| IRS990/USAddress/CityNm | 0 | Clearwater |
| IRS990/USAddress/StateAbbreviationCd | 0 | FL |
| IRS990/USAddress/ZIPCd | 0 | 33760 |
| IRS990/VotingMembersGoverningBodyCnt | 0 | 3 |
| IRS990/VotingMembersIndependentCnt | 0 | 3 |
| IRS990/WebsiteAddressTxt | 0 | Firm-Foundation.org |
| IRS990/WhistleblowerPolicyInd | 0 | 0 |
| ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd | 0 | AAL1 |
| ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd | 0 | IAL1 |
| ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd | 0 | 3 |
| ReturnHeader/BuildTS | 0 | 2023-03-07 01:45:13Z |
| ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd | 0 | 1 |
| ReturnHeader/BusinessOfficerGrp/PersonNm | 0 | Gilbert Hakim |
| ReturnHeader/BusinessOfficerGrp/PersonTitleTxt | 0 | Chairman |
| ReturnHeader/BusinessOfficerGrp/PhoneNum | 0 | 7277890100 |
| ReturnHeader/BusinessOfficerGrp/SignatureDt | 0 | 2023-02-13 |
| ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt | 0 | Firm Foundation Academy |
| ReturnHeader/Filer/BusinessNameControlTxt | 0 | FIRM |
| ReturnHeader/Filer/EIN | 0 | 463388400 |
| ReturnHeader/Filer/PhoneNum | 0 | 7277890100 |
| ReturnHeader/Filer/USAddress/AddressLine1Txt | 0 | 5400 Tech Data Drive |
| ReturnHeader/Filer/USAddress/CityNm | 0 | Clearwater |
| ReturnHeader/Filer/USAddress/StateAbbreviationCd | 0 | FL |
| ReturnHeader/Filer/USAddress/ZIPCd | 0 | 337603116 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmEIN | 0 | 591687531 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt | 0 | PDR CPAS Advisors |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt | 0 | 4023 Tampa Road Suite 2000 |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm | 0 | Oldsmar |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd | 0 | FL |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd | 0 | 34677 |
| ReturnHeader/PreparerPersonGrp/PhoneNum | 0 | 7277854447 |
| ReturnHeader/PreparerPersonGrp/PreparationDt | 0 | 2023-02-13 |
| ReturnHeader/PreparerPersonGrp/PreparerPersonNm | 0 | Jay E Wadsworth |
| ReturnHeader/ReturnTs | 0 | 2023-02-14T15:18:08-06:00 |
| ReturnHeader/ReturnTypeCd | 0 | 990 |
| ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm | 0 | Gilbert |
| ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm | 0 | Hakim |
| ReturnHeader/TaxPeriodBeginDt | 0 | 2021-01-01 |
| ReturnHeader/TaxPeriodEndDt | 0 | 2021-12-31 |
| ReturnHeader/TaxYr | 0 | 2021 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2021 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $938,812
- Liabilities
- $1,411
- Net assets
- $937,401
- Revenue
- $480,016
- Expenses
- $561,159
- Net income
- -$81,143