Civic Intelligence

Miami-Dade County Public Schools Foundation Inc.

990 • Fiscal year 2017 • EIN 61-1566768

Jul 01, 2016 to Jun 30, 2017 • Filed on May 08, 2018

1450 NE 2nd Ave Rm/Ste 931Miami, FL 33132

(305) 995-1516

Siviq Scores

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

Liabilities / Assets

44th percentile

0.06x

Higher debt load relative to assets than 44% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

39th percentile

0.05x

Higher debt load relative to revenue than 39% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

70th percentile

13%

Higher net margin than 70% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

74th percentile

$113,782

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 3.0% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

69th percentile

11%

Faster asset growth than 69% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

60th percentile

9.3%

Faster revenue growth than 60% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Assets

Up

$3,442,042

Up $330,257 (+11%) from 2016

Net Assets

Up

$3,239,893

Up $480,474 (+17%) from 2016

Liabilities

Down

$202,149

Down $150,217 (-43%) from 2016

Revenue

Up

$3,733,810

Up $316,145 (+9.3%) from 2016

Expenses

Up

$3,253,336

Up $2,089,840 (+180%) from 2016

Net Income

Down

$480,474

Down $1,773,695 (-79%) from 2016

Historical Trend

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $1,733,723Liabilities 2011: $94,077Net Assets 2011: $1,639,6462011Assets 2012: $2,629,902Liabilities 2012: $333,111Net Assets 2012: $2,296,7912012Assets 2013: $4,294,986Liabilities 2013: $1,122,680Net Assets 2013: $3,172,3062013Assets 2014: $1,868,917Liabilities 2014: $625,234Net Assets 2014: $1,243,6832014Assets 2015: $1,209,686Liabilities 2015: $704,436Net Assets 2015: $505,2502015Assets 2016: $3,111,785Liabilities 2016: $352,366Net Assets 2016: $2,759,4192016Assets 2017: $3,442,042Liabilities 2017: $202,149Net Assets 2017: $3,239,8932017Assets 2018: $4,673,719Liabilities 2018: $2,155,324Net Assets 2018: $2,518,3952018Assets 2019: $3,231,480Liabilities 2019: $234,291Net Assets 2019: $2,997,1892019Assets 2020: $4,451,373Liabilities 2020: $1,945,413Net Assets 2020: $2,505,9602020Assets 2021: $6,063,775Liabilities 2021: $1,875,000Net Assets 2021: $4,188,7752021Assets 2022: $4,754,832Liabilities 2022: $2,582,751Net Assets 2022: $2,172,0812022Assets 2023: $4,971,555Liabilities 2023: $3,194,348Net Assets 2023: $1,777,2072023Assets 2024: $4,853,444Liabilities 2024: $2,925,726Net Assets 2024: $1,927,7182024Assets 2025: $4,998,435Liabilities 2025: $2,906,598Net Assets 2025: $2,091,8372025

Highlighted filing

2017

Assets$3,442,042
Liabilities$202,149
Net Assets$3,239,893

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2011: $2,016,774Expenses 2011: $1,064,022Net Income 2011: $952,7522011Expenses 2012: $1,904,2712012Expenses 2013: $1,818,2112013Revenue 2014: $1,754,033Expenses 2014: $3,682,656Net Income 2014: -$1,928,6232014Revenue 2015: $1,144,450Expenses 2015: $1,882,883Net Income 2015: -$738,4332015Revenue 2016: $3,417,665Expenses 2016: $1,163,496Net Income 2016: $2,254,1692016Revenue 2017: $3,733,810Expenses 2017: $3,253,336Net Income 2017: $480,4742017Revenue 2018: $5,488,032Expenses 2018: $4,715,071Net Income 2018: $772,9612018Revenue 2019: $5,434,360Expenses 2019: $4,955,566Net Income 2019: $478,7942019Revenue 2020: $5,717,581Expenses 2020: $6,208,810Net Income 2020: -$491,2292020Revenue 2021: $5,709,256Expenses 2021: $4,026,441Net Income 2021: $1,682,8152021Revenue 2022: $3,368,745Expenses 2022: $5,385,439Net Income 2022: -$2,016,6942022Revenue 2023: $4,020,486Expenses 2023: $4,415,360Net Income 2023: -$394,8742023Revenue 2024: $5,189,433Expenses 2024: $5,038,922Net Income 2024: $150,5112024Revenue 2025: $5,050,331Expenses 2025: $4,726,404Net Income 2025: $323,9272025

Highlighted filing

2017

Revenue$3,733,810
Expenses$3,253,336
Net Income$480,474
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 8, 2018
Return Version
2016v3.1
Gross Receipts
$4,175,938
Mission and Program Overview

Mission

The foundation for new education initiatives, inc. Seeks to enhance student achievement and community engagement in support of education initiatives of miami-dade county public schools. Public education can succeed with the involvemenr and resources from all sectors of the economy and all segments of society.

The mission of the foundation for new education initiatives, inc. Is to enhance student achievement and community engagement in support of educational initiatives of miami-dade county public schools.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$2,361,785$2,600,542▲ $238,757
Pledges and Grants Receivable$750,000$841,500▲ $91,500
Total Assets$3,111,785$3,442,042▲ $330,257
Liabilities
Accounts Payable and Accrued Expenses$352,366$202,149▼ $150,217
Total Liabilities$352,366$202,149▼ $150,217
Net Assets / Fund Balance
Temporarily Rstr Net Assets$2,389,042$2,869,073▲ $480,031
Unrestricted Net Assets$370,377$370,820▲ $443
Total Net Assets Fund Balance$2,759,419$3,239,893▲ $480,474
Total Liabilities and Net Assets / Fund Balance$3,111,785$3,442,042▲ $330,257
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Ann De Las PozasExecutive DiFT$113,782$113,782

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$3,896,335
Program Service Revenue
$0
Investment Income
$3,220
Other Revenue
$-165,745
All Other Contributions
$1,912,293
Change in Net Assets
$480,474

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,733,810
Revenue Not Reported on Form 990
$488,888
Total Revenue per Audited Statements
$4,222,698
Total Revenue per Form 990
$3,733,810
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$2,450,010
Other Expenses$682,262
Salaries, Compensation, and Employee Benefits$121,064
Total Fundraising Expense$17,160
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$2,450,010--$2,450,010
Current Officers, Directors, Trustees, and Key Employees-$112,458-$112,458
Fees for Services Accounting-$21,933-$21,933
Office Expenses$10,340$3,935-$14,275
Payroll Taxes-$8,606-$8,606
Other Expenses$97,578$4,389$17,160$4,389
Insurance-$3,190-$3,190
Travel-$51-$51
Advertising-$17-$17
Total Functional Expenses$3,081,597$154,579$17,160$3,253,336

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$3,742,224
Expenses per Audited Statements$3,253,336
Total Expenses per Form 990$3,253,336
Expenses Not Reported on Form 990$488,888
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Miami-dade County PublicMiami, FL-Improve Student Edu.$2,450,010
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$442,128
Fundraising Gross Income$276,383
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$330,150$159,122$270,849$-111,727
5k Race$122,051$59,037$111,743$-52,706
Total Events$510,425$276,383$442,128$-165,745
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
Audit committee
Yes
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

Form 990 is reviewed by management and is presented to the board chair for review after it is filed. Updates, if any, will be processed by amended return.

Form 990, Page 6, Part VI, Line 12C

Annually, the board of directors complete the conflict of interest form, declaring any potential conflicts, which are reviewed by the executive director. Disciplinary action and restrictions are identified on an individual basis.

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

Board of directors reviews, and approves all compensation matters.

Form 990, Page 6, Part VI, Line 19

Governing documents, policies and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Foundation for New Education
EIN
61-1566768
Address
1450 NE 2ND AVE RM/STE 931, MIAMI, FL 33132

Signing Officer

Name
Alvin Gainey
Title
Treasurer
Signed
2018-05-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ann De Las Pozas
Formed
2008
Legal Domicile
Fl
Voting Board Members
12
Independent Board Members
12
Employees
1
Volunteers
50

Preparer

Firm
Verdeja De Armas & Trujillo Llp
Address
255 ALHAMBRA CIR STE 560, CORAL GABLES, FL 33134-7417
Preparer
Octavio a Verdeja
Phone
3054463177
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4A

Student scholarships. Additionally, the superintendent' 5k race, held on april 7th, at museum park, in downtown miami, hosted nearly 3,300 participants, representing over 175 schools. More than 35,062 will be given back to the participating schools. In addition to serving as the fiscal agent for both the summer youth internship program and the together for children initiative, fnei continued its relationship with ray allen and his ray of hope foundation. Through this partnership, two computer labs, complete with computers, laptops, furniture, painting and wall graphics, were donated to the district this year, representing an in-kind donation valued at approximately 75,000. One lab opened earlier this year at homestead middle school and the second lab is slated to open in late may at lake stevens middle school.

Form 990, Part XI, Line 9

Special event expenses 442,128 special event expenses -442,128

Financial Statement Notes

Schedule D, Page 3, Part X

The organization has adopted the provisions of asc no 740, "accounting for uncertainty in income taxes" ("asc no 740"). Asc 740 required that the impact of tax positions to be recognized in the financial statements if they are more likely than not of being sustained upon examination. Accordingly, no provision for income taxes is made in the financial statements. At 6/30/17, there were no uncertain tax positions. The organization files tax returns with us federal and other tax authorities for which statue limitations may go back to the year ended 2014.

Schedule D, Page 4, Part XI, Line 2D

Special event expenses 442,128

Schedule D, Page 4, Part XII, Line 2D

Special event expenses 442,128

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IRS990/MissionDesc0THE MISSION OF THE FOUNDATION FOR NEW EDUCATION INITIATIVES, INC. IS TO ENHANCE STUDENT ACHIEVEMENT AND COMMUNITY ENGAGEMENT IN SUPPORT OF EDUCATIONAL INITIATIVES OF MIAMI-DADE COUNTY PUBLIC SCHOOLS.
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IRS990/ProgSrvcAccomActy3Grp/Desc0THE FOUNDATION PARTICIPATES IN MANY PROGRAMS THROUGHOUT THE YEAR. THESE PROGRAMS HAVE SEVERAL DIFFERENT FUNDING SOURCES.
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine2Txt0MIAMI DADE COUNTY SCHOOLS
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS ADOPTED THE PROVISIONS OF ASC NO 740, "ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES" ("ASC NO 740"). ASC 740 REQUIRED THAT THE IMPACT OF TAX POSITIONS TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS IF THEY ARE MORE LIKELY THAN NOT OF BEING SUSTAINED UPON EXAMINATION. ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS MADE IN THE FINANCIAL STATEMENTS. AT 6/30/17, THERE WERE NO UNCERTAIN TAX POSITIONS. THE ORGANIZATION FILES TAX RETURNS WITH US FEDERAL AND OTHER TAX AUTHORITIES FOR WHICH STATUE LIMITATIONS MAY GO BACK TO THE YEAR ENDED 2014.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1SPECIAL EVENT EXPENSES 442,128
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2SPECIAL EVENT EXPENSES 442,128
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XII, LINE 2D
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0IMPROVE STUDENT EDU.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0MIAMI-DADE COUNTY PUBLIC
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0ALL FUNDS PROVIDED TO ORGANIZATIONS ARE DONE SO IN ACCORDANCE WITH THE SCOPE AND OBJECTIVES OF THE PROGRAMS PROPOSED FOR FUNDING, THE FUNDERS' GUIDELINES AND REQUIREMENTS AND ARE MANAGED AND IMPLEMENTED BY THE FOUNDATION AS APPROVED BY THE BOARD OF DIRECTORS. THIS FOUNDATION IS ORGANIZED AND OPERATED EXCLUSIVELY IN ACCORDANCE WITH SEC 1001 453 FL STATUTES.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 1, PART I, LINE 2
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0STUDENT SCHOLARSHIPS. ADDITIONALLY, THE SUPERINTENDENT' 5K RACE, HELD ON APRIL 7TH, AT MUSEUM PARK, IN DOWNTOWN MIAMI, HOSTED NEARLY 3,300 PARTICIPANTS, REPRESENTING OVER 175 SCHOOLS. MORE THAN 35,062 WILL BE GIVEN BACK TO THE PARTICIPATING SCHOOLS. IN ADDITION TO SERVING AS THE FISCAL AGENT FOR BOTH THE SUMMER YOUTH INTERNSHIP PROGRAM AND THE TOGETHER FOR CHILDREN INITIATIVE, FNEI CONTINUED ITS RELATIONSHIP WITH RAY ALLEN AND HIS RAY OF HOPE FOUNDATION. THROUGH THIS PARTNERSHIP, TWO COMPUTER LABS, COMPLETE WITH COMPUTERS, LAPTOPS, FURNITURE, PAINTING AND WALL GRAPHICS, WERE DONATED TO THE DISTRICT THIS YEAR, REPRESENTING AN IN-KIND DONATION VALUED AT APPROXIMATELY 75,000. ONE LAB OPENED EARLIER THIS YEAR AT HOMESTEAD MIDDLE SCHOOL AND THE SECOND LAB IS SLATED TO OPEN IN LATE MAY AT LAKE STEVENS MIDDLE SCHOOL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS REVIEWED BY MANAGEMENT AND IS PRESENTED TO THE BOARD CHAIR FOR REVIEW AFTER IT IS FILED. UPDATES, IF ANY, WILL BE PROCESSED BY AMENDED RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ANNUALLY, THE BOARD OF DIRECTORS COMPLETE THE CONFLICT OF INTEREST FORM, DECLARING ANY POTENTIAL CONFLICTS, WHICH ARE REVIEWED BY THE EXECUTIVE DIRECTOR. DISCIPLINARY ACTION AND RESTRICTIONS ARE IDENTIFIED ON AN INDIVIDUAL BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOARD OF DIRECTORS REVIEWS, AND APPROVES ALL COMPENSATION MATTERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5SPECIAL EVENT EXPENSES 442,128 SPECIAL EVENT EXPENSES -442,128
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$5.00$2.91$2.09$5.05$4.73$0.32
2024Detailed filing. Detailed filing data is available for this year.$4.85$2.93$1.93$5.19$5.04$0.15
2023Detailed filing. Detailed filing data is available for this year.$4.97$3.19$1.78$4.02$4.42$0.39
2022Detailed filing. Detailed filing data is available for this year.$4.75$2.58$2.17$3.37$5.39$2.02
2021Detailed filing. Detailed filing data is available for this year.$6.06$1.88$4.19$5.71$4.03$1.68
2020Detailed filing. Detailed filing data is available for this year.$4.45$1.95$2.51$5.72$6.21$0.49
2019Detailed filing. Detailed filing data is available for this year.$3.23$0.23$3.00$5.43$4.96$0.48
2018Detailed filing. Detailed filing data is available for this year.$4.67$2.16$2.52$5.49$4.72$0.77
2017Detailed filing. Detailed filing data is available for this year.$3.44$0.20$3.24$3.73$3.25$0.48
2016Detailed filing. Detailed filing data is available for this year.$3.11$0.35$2.76$3.42$1.16$2.25
2015Detailed filing. Detailed filing data is available for this year.$1.21$0.70$0.51$1.14$1.88$0.74
2014Detailed filing. Detailed filing data is available for this year.$1.87$0.63$1.24$1.75$3.68$1.93
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.29$1.12$3.17$1.82
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.63$0.33$2.30$1.90
2011Summary only. Only limited summary data is available for this year.$1.73$0.09$1.64$2.02$1.06$0.95
Peer Organizations

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