Civic Intelligence

Citrus County Education Foundation Inc.

990 • Fiscal year 2016 • EIN 59-3138328

Jul 01, 2015 to Jun 30, 2016 • Filed on Feb 14, 2017

Organization ProfileWWW.CITRUSEDUCATION.ORG
PO Box 2004Inverness, FL 34451

(352) 726-1931

Siviq Scores

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

Liabilities / Assets

58th percentile

0.00x

Higher debt load relative to assets than 58% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

57th percentile

0.00x

Higher debt load relative to revenue than 57% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Net Margin

16th percentile

-19%

Higher net margin than 16% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Top Officer Pay

88th percentile

$36,923

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 11.2% of source-year revenue.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Asset Growth

16th percentile

-29%

Faster asset growth than 16% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

44th percentile

-2.8%

Faster revenue growth than 44% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets58th percentile

Assets

Down

$156,014

Down $62,858 (-29%) from 2015

Net Assets

Down

$155,541

Down $62,899 (-29%) from 2015

Liabilities

Up

$473

Up $41 (+9.5%) from 2015

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin16th percentile

Revenue

Down

$329,341

Down $9,396 (-2.8%) from 2015

Expenses

Up

$392,240

Up $141,352 (+56%) from 2015

Net Income

Down

-$62,899

Down $150,748 (-172%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth16th percentile

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

$1.5M$1.0M$500K$0Assets 2010: $294,182Liabilities 2010: $0Net Assets 2010: $294,1822010Assets 2011: $293,664Liabilities 2011: $02011Assets 2012: $304,163Liabilities 2012: $6,216Net Assets 2012: $297,9472012Assets 2013: $219,183Liabilities 2013: $5,1762013Assets 2014: $131,935Liabilities 2014: $1,344Net Assets 2014: $130,5912014Assets 2015: $218,872Liabilities 2015: $432Net Assets 2015: $218,4402015Assets 2016: $156,014Liabilities 2016: $473Net Assets 2016: $155,5412016Assets 2017: $134,198Liabilities 2017: $1,617Net Assets 2017: $132,5812017Assets 2018: $158,288Liabilities 2018: $2,701Net Assets 2018: $155,5872018Assets 2019: $215,025Liabilities 2019: $2,689Net Assets 2019: $212,3362019Assets 2020: $353,498Liabilities 2020: $17,870Net Assets 2020: $335,6282020Assets 2021: $540,555Liabilities 2021: $3,769Net Assets 2021: $536,7862021Assets 2022: $904,685Liabilities 2022: $1,191Net Assets 2022: $903,4942022Assets 2023: $895,314Liabilities 2023: $1,114Net Assets 2023: $894,2002023Assets 2024: $1,463,417Liabilities 2024: $1,038Net Assets 2024: $1,462,3792024

Highlighted filing

2016

Assets$156,014
Liabilities$473
Net Assets$155,541
Open 2016 Filing

Operations Trend

Revenue Growth44th percentile

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

$2.0M$1.0M$0-$1.0MRevenue 2010: $207,680Expenses 2010: $155,718Net Income 2010: $51,9622010Revenue 2011: $0Expenses 2011: $0Net Income 2011: $02011Revenue 2012: $156,665Expenses 2012: $141,289Net Income 2012: $15,3762012Revenue 2013: $97,329Expenses 2013: $181,269Net Income 2013: -$83,9402013Revenue 2014: $330,053Expenses 2014: $413,469Net Income 2014: -$83,4162014Revenue 2015: $338,737Expenses 2015: $250,888Net Income 2015: $87,8492015Revenue 2016: $329,341Expenses 2016: $392,240Net Income 2016: -$62,8992016Revenue 2017: $292,428Expenses 2017: $315,388Net Income 2017: -$22,9602017Revenue 2018: $259,737Expenses 2018: $236,731Net Income 2018: $23,0062018Revenue 2019: $519,886Expenses 2019: $463,133Net Income 2019: $56,7532019Revenue 2020: $668,722Expenses 2020: $562,666Net Income 2020: $106,0562020Revenue 2021: $636,476Expenses 2021: $435,318Net Income 2021: $201,1582021Revenue 2022: $938,976Expenses 2022: $612,602Net Income 2022: $326,3742022Revenue 2023: $1,097,264Expenses 2023: $1,106,558Net Income 2023: -$9,2942023Revenue 2024: $1,922,508Expenses 2024: $1,354,329Net Income 2024: $568,1792024

Highlighted filing

2016

Revenue$329,341
Expenses$392,240
Net Income-$62,899
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Feb 14, 2017
Return Version
2015v3.0
Gross Receipts
$381,820
Mission and Program Overview

Mission

The citrus county education foundation, inc. Provides resources to support citrus county schools to enhance the quality of education. The foundation is dedicated to: encouraging business and community involvement in the public school system. Promoting creative and innovative educational programs. Fostering excellence in learning. Recognizing outstanding achievements of students, teachers, support personnel and administrators.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$203,914$141,283▼ $62,631
Cash and Non-Interest-Bearing Accounts$14,958$10,624▼ $4,334
Accounts Receivable-$3,484-
Land, Buildings, and Equipment, Net-$623-
Total Assets$218,872$156,014▼ $62,858
Liabilities
Other Liabilities$432$473▲ $41
Total Liabilities$432$473▲ $41
Net Assets / Fund Balance
Unrestricted Net Assets$180,406$117,507▼ $62,899
Temporarily Rstr Net Assets$38,034$38,034→ $0
Total Net Assets Fund Balance$218,440$155,541▼ $62,899
Total Liabilities and Net Assets / Fund Balance$218,872$156,014▼ $62,858

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$623$82$705
Compensation and Service Providers
Top Officer Pay88th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Barbieri StephenExecutive DiFT$36,923$36,923

Board Members and Trustees

NameTitle
Burdette ShaundaPresident
Chandrupatla VandanaSecretary
White DavidTreasurer
Barbieri AmyVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$254,445
Program Service Revenue
$0
Investment Income
$2,188
Other Revenue
$72,708
All Other Contributions
$254,445
Change in Net Assets
$-62,899

Audited Revenue Reconciliation

Revenue per Audited Statements
$329,341
Total Revenue per Audited Statements
$329,341
Total Revenue per Form 990
$329,341
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$187,034
Grants and Similar Amounts Paid$165,458
Salaries, Compensation, and Employee Benefits$39,748
Total Fundraising Expense$3,875
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$140,358--$140,358
Other Salaries and Wages$29,723$3,600$3,600$36,923
All Other Expenses$25,252$5,361-$30,613
Grants to Domestic Individuals$25,100--$25,100
Other Expenses$8,885--$8,885
Fees for Services Accounting-$7,250-$7,250
Payroll Taxes$2,275$275$275$2,825
Occupancy$1,920--$1,920
Office Expenses-$1,919-$1,919
Insurance-$255-$255
Depreciation Depletion-$82-$82
Travel-$28-$28
Total Functional Expenses$369,595$18,770$3,875$392,240

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$392,240
Total Expenses per Audited Statements$392,240
Total Expenses per Form 990$392,240
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Citrus County SchoolsInverness, FLGov-$140,358
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$125,187
Fundraising Direct Expenses$52,479
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Coupons for Cla$64,072$64,072$33,837$30,235
Superintendents$29,626$29,626$856$28,770
Total Events$125,187$125,187$52,479$72,708
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Payroll Liabilities$432
Credit Card Payable$41
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
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
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, Page 6, Part VI, Line 11B

“A copy of the tax return is provided to the executive director and treasurer to review the return. After filing, a copy of the tax returns is provided to board members.”

Form 990, Page 6, Part VI, Line 15A

“The executive director is hired by the board of directors. Compensation is set by the board of directors after an annual review.”

Form 990, Page 6, Part VI, Line 19

“The foundation publishes various information on its website. A copy of the audit report is provided to the florida auditor general and citrus county public schools. The irs form 990 is provided to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Citrus County Education Foundation
EIN
59-3138328
Phone
3527261931
Address
PO BOX 2004, INVERNESS, FL 34451

Signing Officer

Name
White David
Title
Treasurer
Phone
8009995887
Signed
2017-02-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
White David
Formed
1992
Legal Domicile
Fl
Voting Board Members
18
Independent Board Members
18
Employees
0

Preparer

Firm
Coleman & Associates CPA Firm
Address
128 OAKWOOD PLANTATION DR, FLEMING ISLE, FL 32003-4572
Preparer
Timothy M Coleman
Phone
9042849481
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The citrus county education foundation, inc. Provides resources to support citrus county schools to enhance the quality of education. The foundation is dedicated to: encouraging business and community involvement in the public school system. Promoting creative and innovative educational programs. Fostering excellence in learning. Recognizing outstanding achievements of students, teachers, support personnel and administrators.”

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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt32000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt4500
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt51000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt62000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt72000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt82000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIPS - BRIGHT HOU
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1SCHOLARSHIPS - GOLDEN CIT
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt2SCHOLARSHIPS - CITRUS HIL
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt3SCHOLARSHIPS - BARBIERE H
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt4SCHOLARSHIPS - LT. PETER
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt5SCHOLARSHIPS - THELMA DEL
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt6SCHOLARSHIPS - SSFCU
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt7SCHOLARSHIPS ASPIRING TEA
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CITRUS COUNTY EDUCATION FOUNDATION, INC. PROVIDES RESOURCES TO SUPPORT CITRUS COUNTY SCHOOLS TO ENHANCE THE QUALITY OF EDUCATION. THE FOUNDATION IS DEDICATED TO: ENCOURAGING BUSINESS AND COMMUNITY INVOLVEMENT IN THE PUBLIC SCHOOL SYSTEM. PROMOTING CREATIVE AND INNOVATIVE EDUCATIONAL PROGRAMS. FOSTERING EXCELLENCE IN LEARNING. RECOGNIZING OUTSTANDING ACHIEVEMENTS OF STUDENTS, TEACHERS, SUPPORT PERSONNEL AND ADMINISTRATORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE TAX RETURN IS PROVIDED TO THE EXECUTIVE DIRECTOR AND TREASURER TO REVIEW THE RETURN. AFTER FILING, A COPY OF THE TAX RETURNS IS PROVIDED TO BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE EXECUTIVE DIRECTOR IS HIRED BY THE BOARD OF DIRECTORS. COMPENSATION IS SET BY THE BOARD OF DIRECTORS AFTER AN ANNUAL REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FOUNDATION PUBLISHES VARIOUS INFORMATION ON ITS WEBSITE. A COPY OF THE AUDIT REPORT IS PROVIDED TO THE FLORIDA AUDITOR GENERAL AND CITRUS COUNTY PUBLIC SCHOOLS. THE IRS FORM 990 IS PROVIDED TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$156,014
Liabilities
$473
Net assets
$155,541
Revenue
$329,341
Expenses
$392,240
Net income
-$62,899
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.46$0.00$1.46$1.92$1.35$0.57
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.90$0.00$0.89$1.10$1.11$0.01
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.90$0.00$0.90$0.94$0.61$0.33
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.54$0.00$0.54$0.64$0.44$0.20
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.35$0.02$0.34$0.67$0.56$0.11
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.22$0.00$0.21$0.52$0.46$0.06
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.16$0.00$0.16$0.26$0.24$0.02
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.13$0.00$0.13$0.29$0.32$0.02
2016Detailed filing. Detailed filing data is available for this year.$0.16$0.00$0.16$0.33$0.39$0.06
2015Detailed filing. Detailed filing data is available for this year.$0.22$0.00$0.22$0.34$0.25$0.09
2014Detailed filing. Detailed filing data is available for this year.$0.13$0.00$0.13$0.33$0.41$0.08
2013Summary only. Only limited summary data is available for this year.$0.22$0.01$0.10$0.18$0.08
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.30$0.01$0.30$0.16$0.14$0.02
2011Summary only. Only limited summary data is available for this year.$0.29$0.00$0.00$0.00$0.00
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.29$0.00$0.29$0.21$0.16$0.05