Civic Intelligence

Learning Excellence Foundation of East Broward County Inc.

990 • Fiscal year 2016 • EIN 65-1124715

Jul 01, 2015 to Jun 30, 2016 • Filed on Dec 27, 2016

Organization ProfileWWW.IMAGINENL.COM
1395 S State Road 7North Lauderdale, FL 33068

(954) 973-8900

Siviq Scores

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

Liabilities / Assets

90th percentile

0.94x

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

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

43rd percentile

0.14x

Higher debt load relative to revenue than 43% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Net Margin

47th percentile

1.3%

Higher net margin than 47% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

19th percentile

$0

Higher top officer pay than 19% of similar nonprofits.

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

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Asset Growth

24th percentile

-3.5%

Faster asset growth than 24% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Revenue Growth

74th percentile

15%

Faster revenue growth than 74% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets90th percentile

Assets

Down

$883,126

Down $31,998 (-3.5%) from 2015

Net Assets

Up

$51,238

Up $77,615 (+294%) from 2015

Liabilities

Down

$831,888

Down $109,613 (-12%) from 2015

Revenue And Expenses
Liabilities / Revenue43rd percentileNet Margin47th percentile

Revenue

Up

$6,006,355

Up $784,100 (+15%) from 2015

Expenses

Up

$5,928,740

Up $739,854 (+14%) from 2015

Net Income

Up

$77,615

Up $44,246 (+133%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth24th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MAssets 2014: $901,199Liabilities 2014: $960,945Net Assets 2014: -$59,7462014Assets 2015: $915,124Liabilities 2015: $941,501Net Assets 2015: -$26,3772015Assets 2016: $883,126Liabilities 2016: $831,888Net Assets 2016: $51,2382016Assets 2017: $726,413Liabilities 2017: $628,583Net Assets 2017: $97,8302017Assets 2018: $652,905Liabilities 2018: $521,788Net Assets 2018: $131,1172018Assets 2019: $742,219Liabilities 2019: $570,840Net Assets 2019: $171,3792019Assets 2020: $664,961Liabilities 2020: $426,509Net Assets 2020: $238,4522020Assets 2021: $982,760Liabilities 2021: $511,149Net Assets 2021: $471,6112021Assets 2022: $3,768,484Liabilities 2022: $3,465,857Net Assets 2022: $302,6272022Assets 2023: $4,181,116Liabilities 2023: $2,803,997Net Assets 2023: $1,377,1192023Assets 2024: $3,656,437Liabilities 2024: $2,504,280Net Assets 2024: $1,152,1572024Assets 2025: $2,777,347Liabilities 2025: $1,860,309Net Assets 2025: $917,0382025

Highlighted filing

2016

Assets$883,126
Liabilities$831,888
Net Assets$51,238
Open 2016 Filing

Operations Trend

Revenue Growth74th percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2014: $635,051Expenses 2014: $46,857Net Income 2014: $588,1942014Revenue 2015: $5,222,255Expenses 2015: $5,188,886Net Income 2015: $33,3692015Revenue 2016: $6,006,355Expenses 2016: $5,928,740Net Income 2016: $77,6152016Revenue 2017: $5,841,212Expenses 2017: $5,794,620Net Income 2017: $46,5922017Revenue 2018: $6,149,207Expenses 2018: $6,115,920Net Income 2018: $33,2872018Revenue 2019: $6,215,885Expenses 2019: $6,175,623Net Income 2019: $40,2622019Revenue 2020: $5,239,620Expenses 2020: $5,172,547Net Income 2020: $67,0732020Revenue 2021: $5,097,656Expenses 2021: $4,864,497Net Income 2021: $233,1592021Revenue 2022: $4,429,025Expenses 2022: $4,598,009Net Income 2022: -$168,9842022Revenue 2023: $6,038,608Expenses 2023: $4,964,116Net Income 2023: $1,074,4922023Revenue 2024: $5,373,917Expenses 2024: $5,635,579Net Income 2024: -$261,6622024Revenue 2025: $6,051,354Expenses 2025: $6,286,473Net Income 2025: -$235,1192025

Highlighted filing

2016

Revenue$6,006,355
Expenses$5,928,740
Net Income$77,615
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Dec 27, 2016
Return Version
2015v3.0
Gross Receipts
$6,006,355
Mission and Program Overview

Mission

Its all about the students. No exceptions. No excuses.

It's all about the students. No exceptions. No excuses.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$207,362$176,281▼ $31,081
Cash and Non-Interest-Bearing Accounts$155,977$72,084▼ $83,893
Prepaid Expenses and Deferred Charges$8,149--
Total Assets$915,124$883,126▼ $31,998
Other Assets Total$543,636$634,761▲ $91,125
Liabilities
Accounts Payable and Accrued Expenses$368,809$374,483▲ $5,674
Other Liabilities$369,879$359,878▼ $10,001
Unsecured Notes Loans Payable$202,813$89,077▼ $113,736
Deferred Revenue-$8,450-
Total Liabilities$941,501$831,888▼ $109,613
Net Assets / Fund Balance
Temporarily Rstr Net Assets$207,362$176,281▼ $31,081
Unrestricted Net Assets$-233,739$-125,043▲ $108,696
Total Net Assets Fund Balance$-26,377$51,238▲ $77,615
Total Liabilities and Net Assets / Fund Balance$915,124$883,126▼ $31,998

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$141,309$234,620$375,929
Leasehold Improvements$33,346$15,327$48,673
Other Land Buildings$1,626$21,386$23,012
Other Assets Org$8,105--
Compensation and Service Providers
Top Officer Pay19th percentile

Board Members and Trustees

NameTitle
Joyce FergusonBoard Chair
Evelyn GravesCo-chair
Autumn L NutterBoard Member
Julie F KlahrBoard Member
Linda ArnoldBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$5,438,042
Program Service Revenue
$493,023
Investment Income
$0
Other Revenue
$75,290
Change in Net Assets
$77,615

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,006,355
Total Revenue per Audited Statements
$6,006,355
Total Revenue per Form 990
$6,006,355
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,928,740
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
Occupancy-$717,266-$717,266
Fees for Services Management-$559,622-$559,622
Office Expenses$48,267$150,755-$199,022
Fees for Services Other$89,259$88,617-$177,876
Other Expenses$91,312$425,412-$91,312
All Other Expenses$16,699$56,793-$73,492
Depreciation Depletion$58,820$8,427-$67,247
Insurance-$54,080-$54,080
Interest-$33,591-$33,591
Fees for Services Accounting-$30,542-$30,542
Information Technology$19,777--$19,777
Travel$1,268$3,593-$4,861
Advertising-$1,749-$1,749
Total Functional Expenses$3,798,293$2,130,447$0$5,928,740

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,928,740
Total Expenses per Audited Statements$5,928,740
Total Expenses per Form 990$5,928,740
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
Matured Debt Payable$311,954
Due to Charterholder$39,999
Due to Charterholder$7,925
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 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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“The corporation has entered into a charter school operating agreement with imagine schools, inc. (imagine) (ein: 04-3466383), a delaware for-profit corporation to provide organizational and operational support, including the administration and supervision of schoolpersonnel, procurement and management of materials, equipment, and facilities necessary for the provision of educational services to students, and the management, operation and maintenance of the charter school, including preparation and proposal of the charter school budget, in accordance with the charter school mission, educational goals, curriculum, methods of pupil assessment, admission policy and criteria, school calendar and school day schedule, age and grade range of pupils to be enrolled, educational goals, and method to be used to monitor compliance with performance of targeted educational outcomes.”

Form 990, Page 6, Part VI, Line 11B

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

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

“With respect to business transactions with the corporation that might benefit a corporation board member, their relatives or a business in which the corporation board member or their relatives has a substantial interest, the code of ethics for public officers and employees requires that all potential conflicts of interest must be promptly disclosed. When a possible conflict has been disclosed, the board determines whether a conflict actually exists and whether the corporation board member would be required to resign or abstain from discussion and voting on a particular matter. The decisions of the corporation board on these matters are guided by independent legal counsel, as appropriate, legal precedent and decisions of the florida commission on ethics, which has jurisdiction to interpret the code of ethics for public officers and employees.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Learning Excellence Foundation of
EIN
65-1124715
Phone
9549738900
Address
1395 S STATE ROAD 7, NORTH LAUDERDALE, FL 33068
Doing Business As
Imagine Charter School at North

Signing Officer

Name
Joyce Ferguson
Title
Board Chair
Phone
9549738900
Signed
2016-12-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joyce Ferguson
Formed
2000
Legal Domicile
Fl
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
10

Preparer

Firm
Berman Hopkins Wright Laham Cpas & Assoc
Address
8035 SPYGLASS HILL RD, MELBOURNE, FL 32940
Preparer
Brian Nemeroff
Phone
3217572020
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Item C

“LAUDERDALE”

Financial Statement Notes

Schedule D, Page 3, Part X

“The school is exempt from income taxes under section 501(c)(3) of the internal revenue code and applicable state law. The school recognizes the financial statement effects from a tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. Examples of tax positions include the tax-exempt status of the school and various positions related to the potential sources of unrelated business taxable income. The assessment of the technical merits of a tax position is a matter of judgment. The school believes that all of its tax positions are more likely than not to be sustained upon examination. The school files form 990 in the u.s. Federal jurisdiction. The school is generally no longer subject to examination by the internal revenue service three years after a return was due or filed.”

Raw XML Appendix398 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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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MATURED DEBT PAYABLE
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2DUE TO CHARTERHOLDER
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND APPLICABLE STATE LAW. THE SCHOOL RECOGNIZES THE FINANCIAL STATEMENT EFFECTS FROM A TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. EXAMPLES OF TAX POSITIONS INCLUDE THE TAX-EXEMPT STATUS OF THE SCHOOL AND VARIOUS POSITIONS RELATED TO THE POTENTIAL SOURCES OF UNRELATED BUSINESS TAXABLE INCOME. THE ASSESSMENT OF THE TECHNICAL MERITS OF A TAX POSITION IS A MATTER OF JUDGMENT. THE SCHOOL BELIEVES THAT ALL OF ITS TAX POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION. THE SCHOOL FILES FORM 990 IN THE U.S. FEDERAL JURISDICTION. THE SCHOOL IS GENERALLY NO LONGER SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE THREE YEARS AFTER A RETURN WAS DUE OR FILED.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0LAUDERDALE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CORPORATION HAS ENTERED INTO A CHARTER SCHOOL OPERATING AGREEMENT WITH IMAGINE SCHOOLS, INC. (IMAGINE) (EIN: 04-3466383), A DELAWARE FOR-PROFIT CORPORATION TO PROVIDE ORGANIZATIONAL AND OPERATIONAL SUPPORT, INCLUDING THE ADMINISTRATION AND SUPERVISION OF SCHOOLPERSONNEL, PROCUREMENT AND MANAGEMENT OF MATERIALS, EQUIPMENT, AND FACILITIES NECESSARY FOR THE PROVISION OF EDUCATIONAL SERVICES TO STUDENTS, AND THE MANAGEMENT, OPERATION AND MAINTENANCE OF THE CHARTER SCHOOL, INCLUDING PREPARATION AND PROPOSAL OF THE CHARTER SCHOOL BUDGET, IN ACCORDANCE WITH THE CHARTER SCHOOL MISSION, EDUCATIONAL GOALS, CURRICULUM, METHODS OF PUPIL ASSESSMENT, ADMISSION POLICY AND CRITERIA, SCHOOL CALENDAR AND SCHOOL DAY SCHEDULE, AGE AND GRADE RANGE OF PUPILS TO BE ENROLLED, EDUCATIONAL GOALS, AND METHOD TO BE USED TO MONITOR COMPLIANCE WITH PERFORMANCE OF TARGETED EDUCATIONAL OUTCOMES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A COPY OF THE FORM 990 IS PROVIDED TO THE BOARD FOR REVIEW PRIOR TO FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3WITH RESPECT TO BUSINESS TRANSACTIONS WITH THE CORPORATION THAT MIGHT BENEFIT A CORPORATION BOARD MEMBER, THEIR RELATIVES OR A BUSINESS IN WHICH THE CORPORATION BOARD MEMBER OR THEIR RELATIVES HAS A SUBSTANTIAL INTEREST, THE CODE OF ETHICS FOR PUBLIC OFFICERS AND EMPLOYEES REQUIRES THAT ALL POTENTIAL CONFLICTS OF INTEREST MUST BE PROMPTLY DISCLOSED. WHEN A POSSIBLE CONFLICT HAS BEEN DISCLOSED, THE BOARD DETERMINES WHETHER A CONFLICT ACTUALLY EXISTS AND WHETHER THE CORPORATION BOARD MEMBER WOULD BE REQUIRED TO RESIGN OR ABSTAIN FROM DISCUSSION AND VOTING ON A PARTICULAR MATTER. THE DECISIONS OF THE CORPORATION BOARD ON THESE MATTERS ARE GUIDED BY INDEPENDENT LEGAL COUNSEL, AS APPROPRIATE, LEGAL PRECEDENT AND DECISIONS OF THE FLORIDA COMMISSION ON ETHICS, WHICH HAS JURISDICTION TO INTERPRET THE CODE OF ETHICS FOR PUBLIC OFFICERS AND EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, ITEM C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/WebsiteAddressTxt0WWW.IMAGINENL.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JOYCE FERGUSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum09549738900
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-12-27
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LEARNING EXCELLENCE FOUNDATION OF
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0EAST BROWARD COUNTY INC
ReturnHeader/Filer/BusinessNameControlTxt0LEAR
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ReturnHeader/Filer/PhoneNum09549738900
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ReturnHeader/Filer/USAddress/ZIPCd033068
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0591152714
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BERMAN HOPKINS WRIGHT LAHAM CPAS & ASSOC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt08035 SPYGLASS HILL RD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MELBOURNE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd032940
ReturnHeader/PreparerPersonGrp/PhoneNum03217572020
ReturnHeader/PreparerPersonGrp/PreparationDt02017-01-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRIAN NEMEROFF
ReturnHeader/ReturnTs02017-01-12T08:15:31-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

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
$883,126
Liabilities
$831,888
Net assets
$51,238
Revenue
$6,006,355
Expenses
$5,928,740
Net income
$77,615
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.78$1.86$0.92$6.05$6.29$0.24
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.66$2.50$1.15$5.37$5.64$0.26
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.18$2.80$1.38$6.04$4.96$1.07
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.77$3.47$0.30$4.43$4.60$0.17
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.98$0.51$0.47$5.10$4.86$0.23
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.66$0.43$0.24$5.24$5.17$0.07
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.74$0.57$0.17$6.22$6.18$0.04
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.65$0.52$0.13$6.15$6.12$0.03
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.73$0.63$0.10$5.84$5.79$0.05
2016Detailed filing. Detailed filing data is available for this year.$0.88$0.83$0.05$6.01$5.93$0.08
2015Detailed filing. Detailed filing data is available for this year.$0.92$0.94$0.03$5.22$5.19$0.03
2014Summary only. Only limited summary data is available for this year.$0.90$0.96$0.06$0.64$0.05$0.59