Civic Intelligence

Pinellas County Education Foundation Inc.

990 • Fiscal year 2021 • EIN 59-2688253

Jul 01, 2020 to Jun 30, 2021 • Filed on May 16, 2022

12090 Starkey RoadLargo, FL 33773-2727

(727) 588-4816

Siviq Scores

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

Liabilities / Assets

22nd percentile

0.03x

Higher debt load relative to assets than 22% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Liabilities / Revenue

37th percentile

0.17x

Higher debt load relative to revenue than 37% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Net Margin

8th percentile

-16%

Higher net margin than 8% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Top Officer Pay

53rd percentile

$256,941

Higher top officer pay than 53% of similar nonprofits.

Top officer pay equals 3.2% of source-year revenue.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Asset Growth

35th percentile

5.1%

Faster asset growth than 35% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Revenue Growth

19th percentile

-7.1%

Faster revenue growth than 19% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Assets

Up

$46,058,719

Up $2,235,477 (+5.1%) from 2020

Net Assets

Up

$44,691,872

Up $1,617,517 (+3.8%) from 2020

Liabilities

Up

$1,366,847

Up $617,960 (+83%) from 2020

Revenue

Down

$8,082,359

Down $616,541 (-7.1%) from 2020

Expenses

Up

$9,343,676

Up $2,811,740 (+43%) from 2020

Net Income

Down

-$1,261,317

Down $3,428,281 (-158%) from 2020

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2011: $34,247,494Liabilities 2011: $2,303,591Net Assets 2011: $31,943,9032011Assets 2012: $33,034,312Liabilities 2012: $2,071,663Net Assets 2012: $30,962,6492012Assets 2013: $33,571,877Liabilities 2013: $1,816,549Net Assets 2013: $31,755,3282013Assets 2014: $35,362,029Liabilities 2014: $1,819,507Net Assets 2014: $33,542,5222014Assets 2015: $34,582,874Liabilities 2015: $990,255Net Assets 2015: $33,592,6192015Assets 2016: $33,429,581Liabilities 2016: $571,164Net Assets 2016: $32,858,4172016Assets 2017: $33,355,401Liabilities 2017: $353,629Net Assets 2017: $33,001,7722017Assets 2018: $33,941,536Liabilities 2018: $448,323Net Assets 2018: $33,493,2132018Assets 2019: $39,506,234Liabilities 2019: $328,644Net Assets 2019: $39,177,5902019Assets 2020: $43,823,242Liabilities 2020: $748,887Net Assets 2020: $43,074,3552020Assets 2021: $46,058,719Liabilities 2021: $1,366,847Net Assets 2021: $44,691,8722021Assets 2022: $46,219,796Liabilities 2022: $1,296,145Net Assets 2022: $44,923,6512022Assets 2023: $48,071,111Liabilities 2023: $1,249,422Net Assets 2023: $46,821,6892023Assets 2024: $51,103,915Liabilities 2024: $844,462Net Assets 2024: $50,259,4532024Assets 2025: $50,240,089Liabilities 2025: $758,888Net Assets 2025: $49,481,2012025

Highlighted filing

2021

Assets$46,058,719
Liabilities$1,366,847
Net Assets$44,691,872

Operations Trend

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

$15M$10M$5.0M$0-$5.0MRevenue 2011: $5,174,883Expenses 2011: $5,189,659Net Income 2011: -$14,7762011Expenses 2012: $5,850,3022012Revenue 2013: $5,018,530Expenses 2013: $5,257,622Net Income 2013: -$239,0922013Revenue 2014: $7,151,754Expenses 2014: $6,073,404Net Income 2014: $1,078,3502014Revenue 2015: $6,714,569Expenses 2015: $6,439,435Net Income 2015: $275,1342015Revenue 2016: $5,547,118Expenses 2016: $6,184,899Net Income 2016: -$637,7812016Revenue 2017: $6,383,806Expenses 2017: $6,690,497Net Income 2017: -$306,6912017Revenue 2018: $8,875,448Expenses 2018: $6,777,555Net Income 2018: $2,097,8932018Revenue 2019: $11,680,981Expenses 2019: $6,317,582Net Income 2019: $5,363,3992019Revenue 2020: $8,698,900Expenses 2020: $6,531,936Net Income 2020: $2,166,9642020Revenue 2021: $8,082,359Expenses 2021: $9,343,676Net Income 2021: -$1,261,3172021Revenue 2022: $10,365,473Expenses 2022: $6,955,203Net Income 2022: $3,410,2702022Revenue 2023: $9,197,386Expenses 2023: $8,151,765Net Income 2023: $1,045,6212023Revenue 2024: $9,774,915Expenses 2024: $7,899,613Net Income 2024: $1,875,3022024Revenue 2025: $9,273,902Expenses 2025: $9,978,023Net Income 2025: -$704,1212025

Highlighted filing

2021

Revenue$8,082,359
Expenses$9,343,676
Net Income-$1,261,317
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 16, 2022
Return Version
2020v4.2
Gross Receipts
$12,863,422
Mission and Program Overview

Mission

We accelerate academic achievement for all students through the effective mobilization of innovation, relationships, and resources. (continued on schedule o)our work centers around ensuring every student has access and opportunity to benefit from a high-quality education so that they are prepared for life after high school, whether the choice is to attend college, to enter the workforce, or to obtain technical training.

To accelerate educational achievement for all students

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$14,792,432$18,728,025▲ $3,935,593
Savings and Temporary Cash Investments$4,131,070$2,581,645▼ $1,549,425
Cash and Non-Interest-Bearing Accounts$2,269,522$2,388,608▲ $119,086
Pledges and Grants Receivable$2,373,699$1,891,123▼ $482,576
Investments Other Securities$1,715,180$1,494,802▼ $220,378
Prepaid Expenses and Deferred Charges$45,382$49,432▲ $4,050
Land, Buildings, and Equipment, Net$50,221$39,139▼ $11,082
Total Assets$43,823,242$46,058,719▲ $2,235,477
Other Assets Total$18,445,736$18,885,945▲ $440,209
Liabilities
Deferred Revenue$65,055$605,981▲ $540,926
Mortgage Notes Payable Secured by Investment Property$295,000$396,677▲ $101,677
Other Liabilities$166,822$187,523▲ $20,701
Accounts Payable and Accrued Expenses$222,010$176,666▼ $45,344
Total Liabilities$748,887$1,366,847▲ $617,960
Net Assets / Fund Balance
Net Assets With Donor Restrictions$40,729,522$41,028,378▲ $298,856
Net Assets Without Donor Restrictions$2,344,833$3,663,494▲ $1,318,661
Total Net Assets Fund Balance$43,074,355$44,691,872▲ $1,617,517
Total Liabilities and Net Assets / Fund Balance$43,823,242$46,058,719▲ $2,235,477

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$14,814$97,591$112,405
Other Land Buildings$24,325$36,264$60,589
Other Assets Org$1,150,000--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$3,851,200-▲ $1,113,519$1,113,519$3,851,200
2019$3,851,200-▲ $63,127$63,127$3,851,200
2018$3,851,200-▲ $115,570$115,570$3,851,200
2017$3,851,200-▲ $328,367$328,367$3,851,200
2016$3,851,200-▲ $564,730$564,730$3,851,200
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Stacy BaierCEOFT$216,485$40,456$256,941
Kathleen MendozaController (1/1/20-7/3/20)FT$50,011$20,395$70,406
Stephanie SmithController (7/3/20-9/3/21)FT$24,731$1,862$26,593

Board Members and Trustees

NameTitle
Charles HarrisChairman
Tash ElwynVice Chairman
Amy RettigDirector
Ben WeiderDirector
Carol CookDirector
Cathy CollinsDirector
Craig SherDirector
Douglas BishopDirector
Ellen StavrosDirector
Gary RegoliDirector
Irwin NovackDirector
James MyersDirector
Jeffrey WalkerDirector
Joseph BakerDirector
Michael GregoDirector
Michael HarpoleDirector
Mitchell LeeDirector
Pierre CaramazzaDirector
Rene FlowersDirector
Richard AustinDirector
Richard CrippenDirector
Robert McintyreDirector
Sebastian DortchDirector
Steven McmullenDirector
Teresa RooneyDirector
William CarlsonDirector
William PingletonDirector
Josh BomsteinDirector (1/27/21-6/30/21)
Bill GoedeDirector (3/24/21-6/30/21)
Johnny BoykinsDirector (3/24/21-6/30/21)
Karen SeelDirector (7/1/20-12/30/20)
Susan JohnsonSecretary
Robert ByelickTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$7,056,857
Program Service Revenue
$0
Investment Income
$1,038,852
Other Revenue
$-13,350
All Other Contributions
$4,662,175
Change in Net Assets
$-1,261,317

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table271$2,011,662Fair Market Value
Other Non Cash Contri Table1,338$26,760Fair Market Value
Other Non Cash Contri Table10$7,428Fair Market Value
Total Noncash Contributions1,619$2,045,850-

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,699,063
Revenue Not Reported on Financial Statements
$383,296
Revenue Not Reported on Form 990
$3,005,884
Other Revenue Adjustments
$295,000
Total Revenue per Audited Statements
$10,704,947
Total Revenue per Form 990
$8,082,359
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$5,840,599
Salaries, Compensation, and Employee Benefits$2,127,815
Other Expenses$1,375,262
Total Fundraising Expense$136,245
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$3,330,190--$3,330,190
Grants to Domestic Individuals$2,510,409--$2,510,409
Other Salaries and Wages$1,308,806$69,916$50,066$1,428,788
Fees for Services Other$547,844$32,056$9,067$588,967
Current Officers, Directors, Trustees, and Key Employees$256,004$56,246$20,680$332,930
Office Expenses$282,559$37,122$2,925$322,606
Other Employee Benefits$228,280$14,220$9,380$251,880
Conferences and Meetings$118,390$2,435$313$121,138
Information Technology$38,172$45,707$34,443$118,322
Fees for Service Investment Mgmnt Fees-$88,296-$88,296
Payroll Taxes$76,801$5,972$3,421$86,194
Fees for Services Accounting$10,400$41,275-$51,675
Insurance$12,485$17,457$694$30,636
Pension Plan Contributions$26,041$1,069$913$28,023
Depreciation Depletion$1,949$16,882$772$19,603
Fees for Services Legal$4,377$1,725$3,463$9,565
Travel$1,159$6,207$8$7,374
Occupancy$1,500$4,500-$6,000
Advertising$1,892$3,617$100$5,609
Other Expenses$3,521$1,950-$5,471
Total Functional Expenses$8,760,779$446,652$136,245$9,343,676

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$9,382,430
Total Expenses per Form 990$9,343,676
Expenses per Audited Statements$9,255,380
Expenses Not Reported on Form 990$127,050
Expenses Not Reported on Financial Statements$88,296
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Pinellas County SchoolsLargo, FL501(c)(3)Classroom & School Grants (see Program Service Descriptions)$3,236,918
Junior Achievement of Tampa BayTampa, FL501(c)(3)Program Support (see Program Service Descriptions)$12,500
Elisa Nelson ElementaryPalm Harbor, FL501(c)(3)Program Support (see Program Service Descriptions)$10,000
Pinellas County Sheriffs Office Foundation IncLargo, FL501(c)(3)Program Support (see Program Service Descriptions)$10,000
Make a Wish Foundation of Central and Northern Florida IncMaitland, FL501(c)(3)Program Support (see Program Service Descriptions)$8,000
Suncoast Animal LeaguePalm Harbor, FL501(c)(3)Program Support (see Program Service Descriptions)$6,000
Beth Dillinger Foundation IncSt Petersburg, FL501(c)(3)Program Support (see Program Service Descriptions)$5,000
CHILDREN'S DREAM FUND INCSt Petersburg, FL501(c)(3)Program Support (see Program Service Descriptions)$5,000
Suncoast Voices for Children Foundation IncLargo, FL501(c)(3)Program Support (see Program Service Descriptions)$5,000
Therhappy Therapy Services IncSpring Hill, FL501(c)(3)Program Support (see Program Service Descriptions)$5,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$13,350
Fundraising Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
CHANGEMAKER'S BREAKFAST$57,320-$2,626-
Total Events$57,320-$13,350$-13,350
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Obligations Under Split Interest Agreements$187,523
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Other officer compensation reviewed
Yes
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 B, Line 11B

Form 990 is reviewed by the finance committee prior to filing. The form is distributed to the board of directors and posted on the foundation's website.

Form 990, Part VI, Section B, Line 12C

Board members receive a copy of the foundation's conflict of interest policy annually. Each member is required to sign the policy and disclose any conflicts. New staff are required to sign an acknowledgement that they will abide by the foundation's policies and procedures as outlined in the employee handbook.

Form 990, Part VI, Section B, Line 15

The ceo's annual evaluation is conducted by all committee chairs and the executive committee. The executive committee votes on compensation; the chair meets with the ceo and shares evaluation results.

Form 990, Part VI, Section C, Line 18

Form 990 is available upon request as well as on the foundation's website.

Form 990, Part VI, Section C, Line 19

The organization's governing documents, conflict of interest policy, and financial statements are made available to the public upon request. Review of the foundation's expenditures is available on its website.

Filing and Contact Details

Filer

Filer Name
Pinellas Education Foundation
EIN
59-2688253
Phone
7275884816
Address
12090 STARKEY ROAD, LARGO, FL 33773-2727

Signing Officer

Name
Stacy Baier
Title
CEO
Phone
7275884816
Signed
2022-05-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stacy Baier
Formed
1986
Legal Domicile
Fl
Voting Board Members
32
Independent Board Members
32
Employees
37
Volunteers
652

Preparer

Firm
Cbiz Mhm LLC
Address
140 FOUNTAIN PKWY N STE 410, ST PETERSBURG, FL 33716
Preparer
Paul Dunham
Phone
7275721400
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Change in value of split interest agreements 7,506.

FORM 990, PART XII, LINE 2C:

The audit committee oversees the audit of the foundation's books and records and reviews the foundation's internal financial controls and procedures. Activities include: - oversee the process to hire an audit firm. - review and approve the engagement letter. - meet with the auditors to discuss their audit plan and to review the previous and future year's audit fees. - review the results of the audit. The finance and investment committee ensures the long-term financial health of the foundation. Activities include: - review operating budgets. - review monthly financial statements. - review financial policies, including the investment policy. - review income tax returns. - monitor compliance with agreements containing financial covenants. - oversee the process to hire an investment firm. - meet with the investment firm to discuss their investment strategy and to make recommendations to the board on changes.

Financial Statement Notes

PART V, LINE 4:

The organization's endowment funds are comprised of the take stock in children and stavros institute endowments. The take stock in children endowment was established to provide deserving pinellas county school students in grades 6-10 with a florida prepaid college scholarship for up to four years of tuition at the florida public college level, college readiness planning, and a mentor throughout their school years. The stavros institute endowment was established to provide a state-of-the-art learning complex dedicated to educating students in the free enterprise system. The institute houses three separate and distinct programs: enterprise village, finance park, and future plans. See form 990, part iii for program descriptions.

PART X, LINE 2:

The pinellas county education foundation, inc. Is a nonprofit organization exempt from federal income taxes on related income as an organization described in section 501(c)(3) of the internal revenue code and from florida income tax under chapter 220 of the florida statutes. Accordingly, no provision for income taxes has been included in the accompanying consolidated financial statements. The foundation has adopted fasb guidance regarding uncertainty in income taxes as codified in fasb asc topic 740-10. As of june 30, 2021, management does not believe it has taken any tax positions that are subject to a significant degree of uncertainty. The foundation's income tax filings are subject to examination by the internal revenue service generally for three years after they were filed. Tax filings for years after june 30, 2017 remain open for examination.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Change in value of charitable remainder trust 7,506.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Gain on forgiveness of debt 295,000.

Raw XML AppendixShowing 400 of 944 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/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InformationTechnologyGrp/FundraisingAmt034443
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt045707
IRS990/InformationTechnologyGrp/ProgramServicesAmt038172
IRS990/InformationTechnologyGrp/TotalAmt0118322
IRS990/InsuranceGrp/FundraisingAmt0694
IRS990/InsuranceGrp/ManagementAndGeneralAmt017457
IRS990/InsuranceGrp/ProgramServicesAmt012485
IRS990/InsuranceGrp/TotalAmt030636
IRS990/InvestmentIncomeGrp/ExclusionAmt0348916
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0348916
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt01715180
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt01494802
IRS990/InvestmentsPubTradedSecGrp/BOYAmt014792432

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$50.2$0.76$49.5$9.27$9.98$0.70
2024Detailed filing. Detailed filing data is available for this year.$51.1$0.84$50.3$9.77$7.90$1.88
2023Detailed filing. Detailed filing data is available for this year.$48.1$1.25$46.8$9.20$8.15$1.05
2022Detailed filing. Detailed filing data is available for this year.$46.2$1.30$44.9$10.4$6.96$3.41
2021Detailed filing. Detailed filing data is available for this year.$46.1$1.37$44.7$8.08$9.34$1.26
2020Detailed filing. Detailed filing data is available for this year.$43.8$0.75$43.1$8.70$6.53$2.17
2019Detailed filing. Detailed filing data is available for this year.$39.5$0.33$39.2$11.7$6.32$5.36
2018Detailed filing. Detailed filing data is available for this year.$33.9$0.45$33.5$8.88$6.78$2.10
2017Detailed filing. Detailed filing data is available for this year.$33.4$0.35$33.0$6.38$6.69$0.31
2016Detailed filing. Detailed filing data is available for this year.$33.4$0.57$32.9$5.55$6.18$0.64
2015Detailed filing. Detailed filing data is available for this year.$34.6$0.99$33.6$6.71$6.44$0.28
2014Detailed filing. Detailed filing data is available for this year.$35.4$1.82$33.5$7.15$6.07$1.08
2013Summary only. Only limited summary data is available for this year.$33.6$1.82$31.8$5.02$5.26$0.24
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$33.0$2.07$31.0$5.85
2011Summary only. Only limited summary data is available for this year.$34.2$2.30$31.9$5.17$5.19$0.01