Civic Intelligence

Magnet Educational Choice Association Inc.

990 • Fiscal year 2015 • EIN 65-0290712

Jul 01, 2014 to Jun 30, 2015 • Filed on May 13, 2016

1450 NE 2nd Ave No 352Miami, FL 33132-1309

(305) 995-1000

Siviq Scores

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

Liabilities / Assets

30th percentile

0.00x

Higher debt load relative to assets than 30% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Liabilities / Revenue

27th percentile

0.00x

Higher debt load relative to revenue than 27% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Net Margin

76th percentile

18%

Higher net margin than 76% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Top Officer Pay

54th percentile

$19,744

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 3.5% of source-year revenue.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Asset Growth

86th percentile

36%

Faster asset growth than 86% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Revenue Growth

91st percentile

77%

Faster revenue growth than 91% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Assets

Up

$315,403

Up $84,260 (+36%) from 2014

Net Assets

Up

$314,615

Up $84,546 (+37%) from 2014

Liabilities

Down

$788

Down $286 (-27%) from 2014

Revenue

Up

$557,120

Up $242,603 (+77%) from 2014

Expenses

Up

$455,663

Up $128,454 (+39%) from 2014

Net Income

Up

$101,457

Up $114,149 (+899%) from 2014

Historical Trend

Balance Sheet Trend

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

$800K$600K$400K$200K$0Assets 2011: $479,718Liabilities 2011: $5,094Net Assets 2011: $474,6242011Assets 2012: $362,389Liabilities 2012: $2,285Net Assets 2012: $360,1042012Assets 2013: $236,363Liabilities 2013: $1,576Net Assets 2013: $234,7872013Assets 2014: $231,143Liabilities 2014: $1,074Net Assets 2014: $230,0692014Assets 2015: $315,403Liabilities 2015: $788Net Assets 2015: $314,6152015Assets 2016: $608,345Liabilities 2016: $0Net Assets 2016: $608,3452016Assets 2017: $529,274Liabilities 2017: $2,271Net Assets 2017: $527,0032017Assets 2018: $359,874Liabilities 2018: $10,036Net Assets 2018: $349,8382018Assets 2019: $358,100Liabilities 2019: $26,059Net Assets 2019: $332,0412019Assets 2020: $381,541Liabilities 2020: $36,266Net Assets 2020: $345,2752020Assets 2021: $359,682Liabilities 2021: $8,592Net Assets 2021: $351,0902021Assets 2022: $368,718Liabilities 2022: $20,496Net Assets 2022: $348,2222022Assets 2023: $294,087Liabilities 2023: $12,747Net Assets 2023: $281,3402023Assets 2024: $350,286Liabilities 2024: $29,109Net Assets 2024: $321,1772024

Highlighted filing

2015

Assets$315,403
Liabilities$788
Net Assets$314,615

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2011: $414,620Expenses 2011: $502,105Net Income 2011: -$87,4852011Expenses 2012: $497,9582012Expenses 2013: $456,8122013Revenue 2014: $314,517Expenses 2014: $327,209Net Income 2014: -$12,6922014Revenue 2015: $557,120Expenses 2015: $455,663Net Income 2015: $101,4572015Revenue 2016: $892,590Expenses 2016: $598,860Net Income 2016: $293,7302016Revenue 2017: $652,173Expenses 2017: $733,515Net Income 2017: -$81,3422017Revenue 2018: $490,222Expenses 2018: $667,328Net Income 2018: -$177,1062018Revenue 2019: $524,808Expenses 2019: $537,141Net Income 2019: -$12,3332019Revenue 2020: $417,028Expenses 2020: $377,605Net Income 2020: $39,4232020Revenue 2021: $156,435Expenses 2021: $213,007Net Income 2021: -$56,5722021Revenue 2022: $345,084Expenses 2022: $354,182Net Income 2022: -$9,0982022Revenue 2023: $348,303Expenses 2023: $415,185Net Income 2023: -$66,8822023Revenue 2024: $494,590Expenses 2024: $454,753Net Income 2024: $39,8372024

Highlighted filing

2015

Revenue$557,120
Expenses$455,663
Net Income$101,457
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
May 13, 2016
Return Version
2014v6.0
Gross Receipts
$557,120
Mission and Program Overview

Mission

Implementation of specialized programs for schools.

To support academic achievement and career readiness by promoting business/education partnerships, establishing and sponsoring special projects, and coordinating fundraising activities that enhance learning opportunities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$213,390$315,403▲ $102,013
Accounts Receivable$17,753$0▼ $17,753
Total Assets$231,143$315,403▲ $84,260
Liabilities
Accounts Payable and Accrued Expenses$1,074$788▼ $286
Total Liabilities$1,074$788▼ $286
Net Assets / Fund Balance
Permanently Rstr Net Assets$240,776$333,735▲ $92,959
Unrestricted Net Assets$-10,707$-19,120▼ $8,413
Total Net Assets Fund Balance$230,069$314,615▲ $84,546
Total Liabilities and Net Assets / Fund Balance$231,143$315,403▲ $84,260
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
William O McauliffExecutive OfficerPT$19,744$19,744

Board Members and Trustees

NameTitle
Luis SanchezPresident
Rebecca Ha FieldsSecretary
Valda MckinneyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$532,527
Program Service Revenue
$0
Investment Income
$506
Other Revenue
$24,087
All Other Contributions
$532,527
Change in Net Assets
$101,457

Audited Revenue Reconciliation

Revenue per Audited Statements
$542,013
Revenue Not Reported on Financial Statements
$15,107
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$15,107
Total Revenue per Audited Statements
$542,013
Total Revenue per Form 990
$557,120
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$434,563
Salaries, Compensation, and Employee Benefits$21,100
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Conferences and Meetings$97,540$32-$97,572
All Other Expenses$91,153$10-$91,163
Other Expenses$28,960$3,551-$28,960
Other Salaries and Wages-$19,744-$19,744
Fees for Services Accounting-$5,075-$5,075
Insurance-$1,434-$1,434
Payroll Taxes-$1,356-$1,356
Advertising$555--$555
Total Functional Expenses$424,461$31,202$0$455,663

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$457,467
Total Expenses per Audited Statements$457,467
Total Expenses per Form 990$455,663
Expenses Not Reported on Form 990$0
Expenses Not Reported on Financial Statements$-1,804
Other Expense Adjustments$-1,804
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
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 11

A rough draft is emailed to executive director, william o. Mcauliff for review. If any adjsutments or comments are made message will be relayed via email.

Form 990, Part VI, Section C, Line 19

All documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Magnet Educational Choice Association Inc
EIN
65-0290712
Phone
3059951000
Address
1450 NE 2ND AVE NO 352, MIAMI, FL 33132-1309

Signing Officer

Name
William O Mcauliff
Title
Executive Director
Phone
3059951000
Signed
2016-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William O Mcauliff
Formed
1991
Legal Domicile
Fl
Voting Board Members
4
Independent Board Members
4
Employees
1
Volunteers
3

Preparer

Firm
Glsc & Company Pllc
Address
6303 BLUE LAGOON DRIVE SUITE 200, MIAMI, FL 33126
Preparer
Eduard a Baltar
Phone
3053730123
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

Contract services: program service expenses 27,615. Management and general expenses 0. Fundraising expenses 0. Total expenses 27,615. Administrative fees: program service expenses 23,600. Management and general expenses 0. Fundraising expenses 0. Total expenses 23,600. Printing and reproduction: program service expenses 15,571. Management and general expenses 0. Fundraising expenses 0. Total expenses 15,571. Scholarships: program service expenses 14,281. Management and general expenses 0. Fundraising expenses 0. Total expenses 14,281. Public relations: program service expenses 4,778. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,778. Parking expense: program service expenses 3,009. Management and general expenses 0. Fundraising expenses 0. Total expenses 3,009. Photography: program service expenses 2,100. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,100. Postage and delivery: program service expenses 131. Management and general expenses 10. Fundraising expenses 0. Total expenses 141. Miscellaneous expenses: program service expenses 68. Management and general expenses 0. Fundraising expenses 0. Total expenses 68.

FORM 990, PART XI, LINE 9:

Conversion from accrual to cash -16,911.

FORM 990, PART XII, LINE 2C:

NO CHANGE

Financial Statement Notes

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Accrual to cash - accounts receivable

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Accrual to cash expenses adjustment

Raw XML Appendix377 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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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0-1804
IRS990ScheduleD/ExpensesSubtotalAmt0457467
IRS990ScheduleD/OtherExpensesNotIncludedAmt0-1804
IRS990ScheduleD/OtherRevenuesNotIncludedAmt015107
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt015107
IRS990ScheduleD/RevenueSubtotalAmt0542013
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCRUAL TO CASH - ACCOUNTS RECEIVABLE
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1ACCRUAL TO CASH EXPENSES ADJUSTMENT
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0455663
IRS990ScheduleD/TotalRevenuePerForm990Amt0557120
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0542013
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0457467
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A ROUGH DRAFT IS EMAILED TO EXECUTIVE DIRECTOR, WILLIAM O. MCAULIFF FOR REVIEW. IF ANY ADJSUTMENTS OR COMMENTS ARE MADE MESSAGE WILL BE RELAYED VIA EMAIL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CONTRACT SERVICES: PROGRAM SERVICE EXPENSES 27,615. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 27,615. ADMINISTRATIVE FEES: PROGRAM SERVICE EXPENSES 23,600. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 23,600. PRINTING AND REPRODUCTION: PROGRAM SERVICE EXPENSES 15,571. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 15,571. SCHOLARSHIPS: PROGRAM SERVICE EXPENSES 14,281. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 14,281. PUBLIC RELATIONS: PROGRAM SERVICE EXPENSES 4,778. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 4,778. PARKING EXPENSE: PROGRAM SERVICE EXPENSES 3,009. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,009. PHOTOGRAPHY: PROGRAM SERVICE EXPENSES 2,100. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,100. POSTAGE AND DELIVERY: PROGRAM SERVICE EXPENSES 131. MANAGEMENT AND GENERAL EXPENSES 10. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 141. MISCELLANEOUS EXPENSES: PROGRAM SERVICE EXPENSES 68. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 68.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONVERSION FROM ACCRUAL TO CASH -16,911.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO CHANGE
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART IX, LINE 24E
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0FL
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0231143
IRS990/TotalAssetsEOYAmt0315403
IRS990/TotalAssetsGrp/BOYAmt0231143
IRS990/TotalAssetsGrp/EOYAmt0315403
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0532527
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt031202
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0424461
IRS990/TotalFunctionalExpensesGrp/TotalAmt0455663
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01074
IRS990/TotalLiabilitiesEOYAmt0788
IRS990/TotalLiabilitiesGrp/BOYAmt01074
IRS990/TotalLiabilitiesGrp/EOYAmt0788
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0230069
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0314615
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcExpenseAmt0327585
IRS990/TotalOtherProgSrvcRevenueAmt0429928
IRS990/TotalProgramServiceExpensesAmt0424461
IRS990/TotalReportableCompFromOrgAmt019744
IRS990/TotalRevenueGrp/ExclusionAmt024593
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0557120
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt03
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0231143
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0315403
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationAssocInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-10707
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-19120
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01450 NE 2ND AVE NO 352
IRS990/USAddress/CityNm0MIAMI
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd0331321309
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-08-17 19:52:53Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0WILLIAM O MCAULIFF
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum03059951000
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-05-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MAGNET EDUCATIONAL CHOICE ASSOCIATION INC
ReturnHeader/Filer/BusinessNameControlTxt0MAGN
ReturnHeader/Filer/EIN0650290712
ReturnHeader/Filer/PhoneNum03059951000
ReturnHeader/Filer/USAddress/AddressLine1Txt01450 NE 2ND AVE NO 352
ReturnHeader/Filer/USAddress/CityNm0MIAMI
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd0331321309
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0203157326
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GLSC & COMPANY PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt06303 BLUE LAGOON DRIVE SUITE 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MIAMI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd033126
ReturnHeader/PreparerPersonGrp/PhoneNum03053730123
ReturnHeader/PreparerPersonGrp/PreparationDt02016-05-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0EDUARD A BALTAR
ReturnHeader/ReturnTs02016-05-16T07:40:00-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-07-01
ReturnHeader/TaxPeriodEndDt02015-06-30
ReturnHeader/TaxYr02014

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.50$0.29$3.21$4.95$4.55$0.40
2023Detailed filing. Detailed filing data is available for this year.$2.94$0.13$2.81$3.48$4.15$0.67
2022Detailed filing. Detailed filing data is available for this year.$3.69$0.20$3.48$3.45$3.54$0.09
2021Detailed filing. Detailed filing data is available for this year.$3.60$0.09$3.51$1.56$2.13$0.57
2020Summary only. Only limited summary data is available for this year.$3.82$0.36$3.45$4.17$3.78$0.39
2019Detailed filing. Detailed filing data is available for this year.$3.58$0.26$3.32$5.25$5.37$0.12
2018Detailed filing. Detailed filing data is available for this year.$3.60$0.10$3.50$4.90$6.67$1.77
2017Detailed filing. Detailed filing data is available for this year.$5.29$0.02$5.27$6.52$7.34$0.81
2016Detailed filing. Detailed filing data is available for this year.$6.08$0.00$6.08$8.93$5.99$2.94
2015Detailed filing. Detailed filing data is available for this year.$3.15$0.01$3.15$5.57$4.56$1.01
2014Detailed filing. Detailed filing data is available for this year.$2.31$0.01$2.30$3.15$3.27$0.13
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.36$0.02$2.35$4.57
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.62$0.02$3.60$4.98
2011Summary only. Only limited summary data is available for this year.$4.80$0.05$4.75$4.15$5.02$0.87