Civic Intelligence

Gulliver Schools Inc

EIN 65-0900712 • 501(c)3 • Miami, FL

Profile

To create an academic community devoted to educational excellence, with a personal touch, that fulfills each student's potential.

9350 South Dixie Highway11th FloorMiami, FL 33156

www.gulliverschools.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

61st percentile

0.41x

Higher debt load relative to assets than 61% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Liabilities / Revenue

76th percentile

1.07x

Higher debt load relative to revenue than 76% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Net Margin

78th percentile

18%

Higher net margin than 78% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Top Officer Pay

46th percentile

$750,160

Higher top officer pay than 46% of similar nonprofits.

Top officer pay equals 0.6% of source-year revenue.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Asset Growth

62nd percentile

8.6%

Faster asset growth than 62% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Revenue Growth

30th percentile

3.2%

Faster revenue growth than 30% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Assets

Up

$282,268,438

Up $38,142,803 (+16%) from 2022

Liabilities

Up

$125,206,762

Up $9,696,354 (+8.4%) from 2022

Net Assets

Up

$157,061,676

Up $28,446,449 (+22%) from 2022

Revenue

Up

$113,522,322

Up $16,029,737 (+16%) from 2022

Expenses

Up

$87,765,637

Up $5,743,387 (+7.0%) from 2022

Net Income

Up

$25,756,685

Up $10,286,350 (+66%) from 2022

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$300M$200M$100M$0Assets 2010: $75,265,695Liabilities 2010: $49,385,158Net Assets 2010: $25,880,5372010Assets 2011: $81,956,153Liabilities 2011: $51,699,255Net Assets 2011: $30,256,8982011Assets 2012: $88,731,987Liabilities 2012: $57,018,548Net Assets 2012: $31,713,4392012Assets 2013: $89,582,305Liabilities 2013: $51,904,315Net Assets 2013: $37,677,9902013Assets 2014: $88,548,783Liabilities 2014: $44,132,250Net Assets 2014: $44,416,5332014Assets 2015: $94,353,522Liabilities 2015: $43,997,570Net Assets 2015: $50,355,9522015Assets 2016: $106,020,338Liabilities 2016: $49,173,686Net Assets 2016: $56,846,6522016Assets 2017: $106,875,443Liabilities 2017: $41,919,902Net Assets 2017: $64,955,5412017Assets 2018: $127,965,179Liabilities 2018: $56,015,035Net Assets 2018: $71,950,1442018Assets 2019: $132,800,333Liabilities 2019: $53,639,370Net Assets 2019: $79,160,9632019Assets 2020: $162,931,985Liabilities 2020: $70,207,096Net Assets 2020: $92,724,8892020Assets 2021: $217,883,947Liabilities 2021: $96,305,281Net Assets 2021: $121,578,6662021Assets 2022: $244,125,635Liabilities 2022: $115,510,408Net Assets 2022: $128,615,2272022Assets 2023: $282,268,438Liabilities 2023: $125,206,762Net Assets 2023: $157,061,6762023

Highlighted filing

2023

Assets$282,268,438
Liabilities$125,206,762
Net Assets$157,061,676

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$150M$100M$50M$0Expenses 2010: $50,762,7802010Expenses 2011: $54,225,2412011Expenses 2012: $57,245,7122012Expenses 2013: $59,744,2112013Revenue 2014: $67,537,725Expenses 2014: $61,841,083Net Income 2014: $5,696,6422014Revenue 2015: $69,913,308Expenses 2015: $63,541,640Net Income 2015: $6,371,6682015Revenue 2016: $73,662,881Expenses 2016: $65,836,153Net Income 2016: $7,826,7282016Revenue 2017: $77,723,324Expenses 2017: $69,793,132Net Income 2017: $7,930,1922017Revenue 2018: $79,083,876Expenses 2018: $73,774,792Net Income 2018: $5,309,0842018Revenue 2019: $82,915,616Expenses 2019: $77,597,481Net Income 2019: $5,318,1352019Revenue 2020: $87,977,362Expenses 2020: $74,702,163Net Income 2020: $13,275,1992020Revenue 2021: $98,038,609Expenses 2021: $75,858,301Net Income 2021: $22,180,3082021Revenue 2022: $97,492,585Expenses 2022: $82,022,250Net Income 2022: $15,470,3352022Revenue 2023: $113,522,322Expenses 2023: $87,765,637Net Income 2023: $25,756,6852023

Highlighted filing

2023

Revenue$113,522,322
Expenses$87,765,637
Net Income$25,756,685

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$282$125$157$114$87.8$25.8
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$244$116$129$97.5$82.0$15.5
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$218$96.3$122$98.0$75.9$22.2
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$163$70.2$92.7$88.0$74.7$13.3
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$133$53.6$79.2$82.9$77.6$5.32
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$128$56.0$72.0$79.1$73.8$5.31
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$107$41.9$65.0$77.7$69.8$7.93
2016Summary only. Only limited summary data is available for this year.$106$49.2$56.8$73.7$65.8$7.83
2015Detailed filing. Detailed filing data is available for this year.$94.4$44.0$50.4$69.9$63.5$6.37
2014Detailed filing. Detailed filing data is available for this year.$88.5$44.1$44.4$67.5$61.8$5.70
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$89.6$51.9$37.7$59.7
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$88.7$57.0$31.7$57.2
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$82.0$51.7$30.3$54.2
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$75.3$49.4$25.9$50.8
Latest Detailed Filing

The latest 2023 filing currently has summary financial data only. Showing the latest detailed filing from 2021 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 13, 2022
Return Version
2020v4.2
Gross Receipts
$98,688,849
Mission and Program Overview

Mission

To create an academic community devoted to educational excellence, with a personal touch, that fulfills each student's potential.

To create an academic community devoted to educational excellence, with a personal touch.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$68,387,492$79,041,590▲ $10,654,098
Cash and Non-Interest-Bearing Accounts$34,726,840$64,732,803▲ $30,005,963
Investments in Publicly Traded Securities$49,650,152$62,136,956▲ $12,486,804
Intangible Assets$3,964,907$3,964,907→ $0
Pledges and Grants Receivable$2,161,505$3,848,021▲ $1,686,516
Savings and Temporary Cash Investments$2,877,683$2,686,467▼ $191,216
Prepaid Expenses and Deferred Charges$494,649$1,040,252▲ $545,603
Accounts Receivable$376,830$92,810▼ $284,020
Inventories for Sale or Use-$25,849-
Total Assets$162,931,985$217,883,947▲ $54,951,962
Other Assets Total$291,927$314,292▲ $22,365
Liabilities
Deferred Revenue$36,969,987$46,778,212▲ $9,808,225
Tax Exempt Bond Liabilities$28,064,003$41,432,638▲ $13,368,635
Accounts Payable and Accrued Expenses$4,993,106$7,974,431▲ $2,981,325
Other Liabilities$180,000$120,000▼ $60,000
Total Liabilities$70,207,096$96,305,281▲ $26,098,185
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$88,742,584$113,402,477▲ $24,659,893
Net Assets With Donor Restrictions$3,982,305$8,176,189▲ $4,193,884
Total Net Assets Fund Balance$92,724,889$121,578,666▲ $28,853,777
Total Liabilities and Net Assets / Fund Balance$162,931,985$217,883,947▲ $54,951,962

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$22,298,081$12,523,338$34,821,419
Leasehold Improvements$8,647,440$18,551,453$27,198,893
Land$26,712,883-$26,712,883
Other Land Buildings$19,000,759$3,915,239$22,915,998
Equipment$2,382,427$9,206,354$11,588,781

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$12,201,509$61,000▲ $3,086,019$72,551$15,275,977
2019$11,913,175$1,000▲ $358,799$71,465$12,201,509
2018$11,215,923$1,450▲ $764,393$68,591$11,913,175
2017$10,531,755$33,065▲ $717,357$66,254$11,215,923
2016$9,828,773$47,940▲ $720,323$65,281$10,531,755
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Clifton L KlingPresident & CEOFT$599,071$5,850$604,921
Charles a RueCOOFT$369,335$5,850$375,185
Francis SteelHead of SchoolFT$367,554$5,850$373,404
Joseph E GoulartVice PresidentFT$322,633-$322,633
Jonathan SchoenwaldAsst Head of SchoolFT$304,282$1,246$305,528
Alejandro E RodriguezCTOFT$265,808-$265,808
Michele SeidChief People OfficerFT$230,106$2,084$232,190
Peter B OlrichAssociate DirectorFT$231,673-$231,673

Highest Paid Contractors

ContractorServicesLocationCompensation
Nv2a Group LLCConstruction9100 S DADELAND BLVD STE 600, Miami, FL 33156-7815$3,507,591
Camcon GroupConstruction5000 SW 75TH AVENUE STE 3008, Miami, FL 33155-4488$2,321,098
Sage Dining Services INCDining1402 YORK ROAD SUITE 100, Lutherville, MD 21093$2,316,696
The Redland CompanyConstruction48 NE 15TH STREET, Homestead, FL 33030-4507$1,292,890
Zyscovich INCArchitects100 S BISCAYNE BLVD FL 27, Miami, FL 33131$541,832
Revenue and Support

Revenue Composition

Contributions and Grants
$5,930,387
Program Service Revenue
$85,754,167
Investment Income
$6,297,052
Other Revenue
$57,003
All Other Contributions
$5,930,387
Change in Net Assets
$22,180,308

Audited Revenue Reconciliation

Revenue per Audited Statements
$87,243,403
Revenue Not Reported on Financial Statements
$10,795,206
Revenue Not Reported on Form 990
$6,673,473
Other Revenue Adjustments
$10,795,206
Total Revenue per Audited Statements
$93,916,876
Total Revenue per Form 990
$98,038,609
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$42,701,132
Other Expenses$22,211,963
Grants and Similar Amounts Paid$10,945,206
Total Fundraising Expense$1,455,435
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$33,047,427$586,765$817,640$34,451,832
Grants to Domestic Individuals$10,795,206--$10,795,206
Depreciation Depletion$5,233,910--$5,233,910
Other Employee Benefits$3,839,880$480,157$108,783$4,428,820
Payroll Taxes$2,382,994$99,226$54,319$2,536,539
Information Technology$1,566,034--$1,566,034
Insurance$1,309,638--$1,309,638
Current Officers, Directors, Trustees, and Key Employees-$1,283,941-$1,283,941
Interest$993,290--$993,290
Other Expenses$27,496$793,283$15,530$836,309
Fees for Services Other$276,724$483,662-$760,386
Advertising$495,950-$145,712$641,662
All Other Expenses$216,939$28,402-$245,341
Grants to Domestic Orgs$150,000--$150,000
Total Functional Expenses$70,349,086$4,053,780$1,455,435$75,858,301

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$75,858,301
Expenses per Audited Statements$65,063,095
Total Expenses per Audited Statements$65,063,095
Expenses Not Reported on Financial Statements$10,795,206
Other Expense Adjustments$10,795,206
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Breakthrough Miami IncMiami, FL501c3Educational$150,000
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
Accrued Fees$120,000

Bond Issues

BondIssuerIssuedIssue PricePurpose
BMiami Dade County2019-12-12$14,000,000Revenue bond, series 2019b ("series b bond")
AMiami Dade County2019-12-12$12,600,000Refunding bond, series 2019a ("series a bond")
CMiami Dade County2019-12-12$3,040,000Revenue bond, series 2019c ("series c bond")

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$12,600,000--$902,072
B$3,040,000---
C----

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
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
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

The trustees, coo and president examined this return, including accompanying schedules and statements prior to filing.

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

The trustees are required to disclose any conflicts of interest and are required to sign a statement to that affect each year.

Form 990, Part VI, Section B, Line 15

Compensation for president is determined by the board of trustees. Compensation for all other employees, including officers and key employees, is determined by the president.

Form 990, Part VI, Section C, Line 19

It is available upon request.

Filing and Contact Details

Filer

Filer Name
Gulliver Preparatory School Inc
EIN
65-0900712
Phone
3056666333
Address
9350 SOUTH DIXIE HIGHWAY11TH FLOOR, MIAMI, FL 33156

Signing Officer

Name
Clifton Kling
Title
President
Phone
3056666333
Signed
2022-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Clifton Kling
Formed
1999
Legal Domicile
Fl
Voting Board Members
20
Independent Board Members
20
Employees
710
Volunteers
20

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

Financial Statement Notes

PART X, LINE 2:

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 6/30/21, 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 2018.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Specific assistance to individuals-revenue 10,795,206.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Specific assistance to individuals-expenses 10,795,206.

Raw XML AppendixShowing 400 of 970 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.

Path#Value
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