Civic Intelligence

Milestones Community School Inc.

990 • Fiscal year 2022 • EIN 59-3444711

Jul 01, 2021 to Jun 30, 2022 • Filed on Feb 01, 2023

Organization ProfileIMAGINEWM.ORG
3355 Imagine WayMelbourne, FL 32904

(321) 729-0500

Siviq Scores

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

Liabilities / Assets

93rd percentile

0.97x

Higher debt load relative to assets than 93% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

90th percentile

2.48x

Higher debt load relative to revenue than 90% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Net Margin

43rd percentile

3.7%

Higher net margin than 43% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

14th percentile

$0

Higher top officer pay than 14% of similar nonprofits.

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

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Asset Growth

100th percentile

2330%

Faster asset growth than 100% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

70th percentile

18%

Faster revenue growth than 70% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Up

$17,782,836

Up $17,051,002 (+2330%) from 2021

Net Assets

Up

$502,369

Up $259,005 (+106%) from 2021

Liabilities

Up

$17,280,467

Up $16,791,997 (+3438%) from 2021

Revenue And Expenses
Liabilities / Revenue90th percentileNet Margin43rd percentile

Revenue

Up

$6,966,663

Up $1,065,283 (+18%) from 2021

Expenses

Up

$6,707,658

Up $804,236 (+14%) from 2021

Net Income

Up

$259,005

Up $261,047 (+12784%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth100th percentile

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

$20M$15M$10M$5.0M$0Assets 2010: $490,812Liabilities 2010: $400,554Net Assets 2010: $90,2582010Assets 2011: $551,174Liabilities 2011: $377,128Net Assets 2011: $174,0462011Assets 2012: $588,664Liabilities 2012: $390,907Net Assets 2012: $197,7572012Assets 2013: $368,464Liabilities 2013: $187,878Net Assets 2013: $180,5862013Assets 2014: $233,356Liabilities 2014: $173,644Net Assets 2014: $59,7122014Assets 2015: $2,212,704Liabilities 2015: $2,074,268Net Assets 2015: $138,4362015Assets 2016: $329,371Liabilities 2016: $203,286Net Assets 2016: $126,0852016Assets 2017: $425,258Liabilities 2017: $214,762Net Assets 2017: $210,4962017Assets 2018: $397,401Liabilities 2018: $113,174Net Assets 2018: $284,2272018Assets 2019: $443,133Liabilities 2019: $158,905Net Assets 2019: $284,2282019Assets 2020: $492,428Liabilities 2020: $247,022Net Assets 2020: $245,4062020Assets 2021: $731,834Liabilities 2021: $488,470Net Assets 2021: $243,3642021Assets 2022: $17,782,836Liabilities 2022: $17,280,467Net Assets 2022: $502,3692022Assets 2023: $18,485,582Liabilities 2023: $17,196,772Net Assets 2023: $1,288,8102023Assets 2024: $18,270,361Liabilities 2024: $17,705,931Net Assets 2024: $564,4302024

Highlighted filing

2022

Assets$17,782,836
Liabilities$17,280,467
Net Assets$502,369
Open 2022 Filing

Operations Trend

Revenue Growth70th percentile

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

$10M$5.0M$0-$5.0MExpenses 2010: $5,282,5992010Expenses 2011: $5,456,1382011Expenses 2012: $4,514,6982012Revenue 2013: $3,772,610Expenses 2013: $3,826,882Net Income 2013: -$54,2722013Revenue 2014: $3,410,644Expenses 2014: $3,527,391Net Income 2014: -$116,7472014Revenue 2015: $3,785,451Expenses 2015: $3,706,727Net Income 2015: $78,7242015Revenue 2016: $4,067,638Expenses 2016: $4,079,989Net Income 2016: -$12,3512016Revenue 2017: $4,947,380Expenses 2017: $4,862,969Net Income 2017: $84,4112017Revenue 2018: $5,548,752Expenses 2018: $5,475,021Net Income 2018: $73,7312018Revenue 2019: $5,742,039Expenses 2019: $5,742,038Net Income 2019: $12019Revenue 2020: $5,838,876Expenses 2020: $5,877,698Net Income 2020: -$38,8222020Revenue 2021: $5,901,380Expenses 2021: $5,903,422Net Income 2021: -$2,0422021Revenue 2022: $6,966,663Expenses 2022: $6,707,658Net Income 2022: $259,0052022Revenue 2023: $7,622,764Expenses 2023: $6,836,323Net Income 2023: $786,4412023Revenue 2024: $8,710,909Expenses 2024: $9,435,289Net Income 2024: -$724,3802024

Highlighted filing

2022

Revenue$6,966,663
Expenses$6,707,658
Net Income$259,005
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Feb 1, 2023
Return Version
2021v4.1
Gross Receipts
$6,966,663
Mission and Program Overview

Mission

To provide educational services to school age children (grades pre-k to 8th).

To provide educational services to school age children (pre-k to 8th).

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$138,010$16,178,652▲ $16,040,642
Rtn Earn Endowment Incm Other Fnds$105,354$1,166,097▲ $1,060,743
Cash and Non-Interest-Bearing Accounts$328,415$1,102,184▲ $773,769
Pledges and Grants Receivable$252,954$319,997▲ $67,043
Savings and Temporary Cash Investments-$140,294-
Accounts Receivable$11,025$27,135▲ $16,110
Prepaid Expenses and Deferred Charges$1,430$14,574▲ $13,144
Pd in Cap Srpls Land Bldg Eqp Fund$138,010$-663,728▼ $801,738
Total Assets$731,834$17,782,836▲ $17,051,002
Liabilities
Tax Exempt Bond Liabilities-$16,842,380-
Accounts Payable and Accrued Expenses$488,470$431,588▼ $56,882
Deferred Revenue-$6,499-
Other Liabilities$0$0→ $0
Total Liabilities$488,470$17,280,467▲ $16,791,997
Net Assets / Fund Balance
Total Net Assets Fund Balance$243,364$502,369▲ $259,005
Total Liabilities and Net Assets / Fund Balance$731,834$17,782,836▲ $17,051,002

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$14,363,831$2,225-
Land$1,648,270--
Equipment$166,551$400,513-
Compensation and Service Providers
Top Officer Pay14th percentile

Board Members and Trustees

NameTitle
Melissa KoretskyChair
Michael RussellMember
William McmullenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$517,745
Program Service Revenue
$5,871,934
Investment Income
$0
Other Revenue
$576,984
All Other Contributions
$517,745
Change in Net Assets
$259,005

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,966,663
Total Revenue per Audited Statements
$6,966,663
Total Revenue per Form 990
$6,966,663
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,707,658
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
Interest$1,094,638$0$0$1,094,638
Occupancy$1,023,577$0$0$1,023,577
Other Expenses$386,605$0$0$386,605
All Other Expenses$256,792$115,700$0$372,492
Insurance$136,004$0$0$136,004
Office Expenses$33,999$33,999$0$67,998
Depreciation Depletion$44,917$0$0$44,917
Advertising$22,050$0$0$22,050
Fees for Services Accounting$0$15,000$0$15,000
Travel$5,883$0$0$5,883
Total Functional Expenses$6,537,473$170,185$0$6,707,658

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$6,707,658
Total Expenses per Audited Statements$6,707,658
Total Expenses per Form 990$6,707,658
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Uncertain Tax Positions$0

Bond Issues

BondIssuerIssuedIssue PricePurpose
AMilestones Community School Inc2022-01-13$17,355,000EDUCATIONAL FACILITY
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Filing and Contact Details

Filer

Filer Name
Milestones Community School Inc
EIN
59-3444711
Phone
3217290500
Address
3355 IMAGINE WAY, MELBOURNE, FL 32904
Doing Business As
Imagine Schools at West Melbourne

Signing Officer

Name
Melissa Koretsky
Title
Board Chair
Phone
3217290500
Signed
2023-02-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Melissa Koretsky
Formed
1998
Legal Domicile
Fl
Voting Board Members
3
Independent Board Members
3
Employees
97
Volunteers
0

Preparer

Firm
Robert Walker CPA PA
Address
2803 W Busch Blvd Ste 106, Tampa, FL 33618
Preparer
Robert Walker CPA
Phone
8136248643
Supplemental Narrative

Additional Explanations

Pt VI, Line 3

“The school is contracted with imagine schools, inc. To provide all charter school management services, including the administration and supervision of personnel, procurements and management of materials, equipment, and facilities.”

Pt VI, Line 11B

“A draft copy of the 990 is provided to the board for review prior to filing with the irs.”

Pt VI, Line 12C

“An annual review for potential and actual conflicts of interest is performed.”

Pt VI, Line 15A

“The compensation for top officials is subject to board approval.”

Pt VI, Line 15B

“The compensation for officers is subject to board approval.”

Financial Statement Notes

Pt X, Line 2

“The School is exempt from Federal tax under Section 501(c)(3) of the Internal Revenue Code. Accordingly, no provision for income taxes has been included in the accompanying financial statements. Additionally, no uncertain tax positions have been made requiring disclosure in the related note to financial statements. The Schools income tax returns for the past three years are subject to examination by tax authorities and may change upon examination.”

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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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IRS990ScheduleD/BuildingsGrp/DepreciationAmt02225
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IRS990ScheduleD/EquipmentGrp/BookValueAmt0166551
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0400513
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt0567064
IRS990ScheduleD/ExpensesSubtotalAmt06707658
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt01648270
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt01648270
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt00
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0UNCERTAIN TAX POSITIONS
IRS990ScheduleD/RevenueSubtotalAmt06966663
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The School is exempt from Federal tax under Section 501(c)(3) of the Internal Revenue Code. Accordingly, no provision for income taxes has been included in the accompanying financial statements. Additionally, no uncertain tax positions have been made requiring disclosure in the related note to financial statements. The Schools income tax returns for the past three years are subject to examination by tax authorities and may change upon examination.
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IRS990ScheduleD/TotalExpensesPerForm990Amt06707658
IRS990ScheduleD/TotalLiabilityAmt00
IRS990ScheduleD/TotalRevenuePerForm990Amt06966663
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IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt06707658
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IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0FUNDING IS RECEIVED FROM THE BREVARD COUNTY SCHOOL BOARD AND THE STATE OF FLORIDA.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL IS OPEN TO ALL RESIDENTS OF BREVARD COUNTY. IT FALLS UNDER THE SAME ADMISSION STANDARDS AND PUBLICATION OF POLICIES AS BREVARD COUNTY PUBLIC SCHOOLS. NA
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0MILESTONES COMMUNITY SCHOOL INC
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0EDUCATIONAL FACILITY
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL IS CONTRACTED WITH IMAGINE SCHOOLS, INC. TO PROVIDE ALL CHARTER SCHOOL MANAGEMENT SERVICES, INCLUDING THE ADMINISTRATION AND SUPERVISION OF PERSONNEL, PROCUREMENTS AND MANAGEMENT OF MATERIALS, EQUIPMENT, AND FACILITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A DRAFT COPY OF THE 990 IS PROVIDED TO THE BOARD FOR REVIEW PRIOR TO FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AN ANNUAL REVIEW FOR POTENTIAL AND ACTUAL CONFLICTS OF INTEREST IS PERFORMED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE COMPENSATION FOR TOP OFFICIALS IS SUBJECT TO BOARD APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE COMPENSATION FOR OFFICERS IS SUBJECT TO BOARD APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 15b
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IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
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IRS990/TaxExemptBondsInd0true
IRS990/TerminateOperationsInd0false
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IRS990/TravelGrp/ManagementAndGeneralAmt00
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IRS990/TravelGrp/TotalAmt05883
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt03355 IMAGINE WAY
IRS990/USAddress/CityNm0MELBOURNE
IRS990/USAddress/StateAbbreviationCd0FL
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IRS990/WhistleblowerPolicyInd0true
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02023-03-07 01:45:13Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MELISSA KORETSKY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum03217290500
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-02-01
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MILESTONES COMMUNITY SCHOOL INC
ReturnHeader/Filer/BusinessNameControlTxt0MILE
ReturnHeader/Filer/EIN0593444711
ReturnHeader/Filer/PhoneNum03217290500
ReturnHeader/Filer/USAddress/AddressLine1Txt03355 IMAGINE WAY
ReturnHeader/Filer/USAddress/CityNm0MELBOURNE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd032904
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0200676201
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Robert Walker CPA PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02803 W Busch Blvd Ste 106

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$17,782,836
Liabilities
$17,280,467
Net assets
$502,369
Revenue
$6,966,663
Expenses
$6,707,658
Net income
$259,005
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$18.3$17.7$0.56$8.71$9.44$0.72
2023Detailed filing. Detailed filing data is available for this year.$18.5$17.2$1.29$7.62$6.84$0.79
2022Detailed filing. Detailed filing data is available for this year.$17.8$17.3$0.50$6.97$6.71$0.26
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.73$0.49$0.24$5.90$5.90$0.00
2020Detailed filing. Detailed filing data is available for this year.$0.49$0.25$0.25$5.84$5.88$0.04
2019Detailed filing. Detailed filing data is available for this year.$0.44$0.16$0.28$5.74$5.74$0.00
2018Detailed filing. Detailed filing data is available for this year.$0.40$0.11$0.28$5.55$5.48$0.07
2017Detailed filing. Detailed filing data is available for this year.$0.43$0.21$0.21$4.95$4.86$0.08
2016Detailed filing. Detailed filing data is available for this year.$0.33$0.20$0.13$4.07$4.08$0.01
2015Detailed filing. Detailed filing data is available for this year.$2.21$2.07$0.14$3.79$3.71$0.08
2014Detailed filing. Detailed filing data is available for this year.$0.23$0.17$0.06$3.41$3.53$0.12
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.37$0.19$0.18$3.77$3.83$0.05
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.59$0.39$0.20$4.51
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.55$0.38$0.17$5.46
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.49$0.40$0.09$5.28