Civic Intelligence

The Florida Virtual School Foundation I

990 • Fiscal year 2020 • EIN 80-0617347

Jul 01, 2019 to Jun 30, 2020 • Filed on Sep 22, 2020

Organization ProfileWWW.FLVSFOUNDATION.ORG
2145 Metrocenter Blvd No 100Orlando, FL 32835

(407) 513-3352

Siviq Scores

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

Liabilities / Assets

55th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

55th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

77th percentile

29%

Higher net margin than 77% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

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

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

59th percentile

11%

Faster asset growth than 59% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

11th percentile

-74%

Faster revenue growth than 11% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets55th percentile

Assets

Up

$101,446

Up $10,396 (+11%) from 2019

Net Assets

Up

$101,446

Up $11,056 (+12%) from 2019

Liabilities

Down

$0

Down $660 (-100%) from 2019

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin77th percentile

Revenue

Down

$38,750

Down $110,945 (-74%) from 2019

Expenses

Down

$27,694

Down $172,174 (-86%) from 2019

Net Income

Up

$11,056

Up $61,229 (+122%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth59th percentile

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

$600K$400K$200K$0Assets 2010: $1Liabilities 2010: $02010Assets 2011: $168,350Liabilities 2011: $0Net Assets 2011: $168,3502011Assets 2012: $181,250Liabilities 2012: $0Net Assets 2012: $181,2502012Assets 2013: $298,620Liabilities 2013: $42,500Net Assets 2013: $256,1202013Assets 2014: $398,864Liabilities 2014: $81,100Net Assets 2014: $317,7642014Assets 2015: $555,125Liabilities 2015: $171,296Net Assets 2015: $383,8292015Assets 2016: $415,463Liabilities 2016: $0Net Assets 2016: $415,4632016Assets 2017: $158,699Liabilities 2017: $0Net Assets 2017: $158,6992017Assets 2018: $140,563Liabilities 2018: $0Net Assets 2018: $140,5632018Assets 2019: $91,050Liabilities 2019: $660Net Assets 2019: $90,3902019Assets 2020: $101,446Liabilities 2020: $0Net Assets 2020: $101,4462020Assets 2021: $62,897Liabilities 2021: $8,612Net Assets 2021: $54,2852021Assets 2022: $66,892Liabilities 2022: $13,410Net Assets 2022: $53,4822022Assets 2023: $111,818Liabilities 2023: $5,148Net Assets 2023: $106,6702023Assets 2024: $74,613Liabilities 2024: $11,455Net Assets 2024: $63,1582024

Highlighted filing

2020

Assets$101,446
Liabilities$0
Net Assets$101,446
Open 2020 Filing

Operations Trend

Revenue Growth11th percentile

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

$1.0M$500K$0-$500KRevenue 2010: $0Expenses 2010: $0Net Income 2010: $02010Revenue 2011: $186,853Expenses 2011: $18,503Net Income 2011: $168,3502011Revenue 2012: $238,747Expenses 2012: $225,847Net Income 2012: $12,9002012Revenue 2013: $344,973Expenses 2013: $261,359Net Income 2013: $83,6142013Revenue 2014: $451,981Expenses 2014: $390,337Net Income 2014: $61,6442014Revenue 2015: $994,404Expenses 2015: $928,339Net Income 2015: $66,0652015Revenue 2016: $116,689Expenses 2016: $85,055Net Income 2016: $31,6342016Revenue 2017: $306,908Expenses 2017: $563,672Net Income 2017: -$256,7642017Revenue 2018: $329,606Expenses 2018: $347,742Net Income 2018: -$18,1362018Revenue 2019: $149,695Expenses 2019: $199,868Net Income 2019: -$50,1732019Revenue 2020: $38,750Expenses 2020: $27,694Net Income 2020: $11,0562020Revenue 2021: $41,505Expenses 2021: $88,666Net Income 2021: -$47,1612021Revenue 2022: $99,042Expenses 2022: $99,845Net Income 2022: -$8032022Revenue 2023: $163,566Expenses 2023: $110,378Net Income 2023: $53,1882023Revenue 2024: $38,022Expenses 2024: $81,534Net Income 2024: -$43,5122024

Highlighted filing

2020

Revenue$38,750
Expenses$27,694
Net Income$11,056
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Sep 22, 2020
Return Version
2019v5.1
Gross Receipts
$38,750
Mission and Program Overview

Mission

Flvs foundation invests its resources to support high quality, technology-based education that provides skills and knowledge students need for success.

See schedule o.flvs foundation, inc. Invests its resources to provide access to florida virtual school education for under-served students. The foundation strives to ensure all students have access to world-class education and quality online learning opportunities that prepare them for a lifetime for success.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$91,050$101,446▲ $10,396
Total Assets$91,050$101,446▲ $10,396
Liabilities
Accounts Payable and Accrued Expenses$660$0▼ $660
Total Liabilities$660$0▼ $660
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$70,543$59,099▼ $11,444
Net Assets With Donor Restrictions$19,847$42,347▲ $22,500
Total Net Assets Fund Balance$90,390$101,446▲ $11,056
Total Liabilities and Net Assets / Fund Balance$91,050$101,446▲ $10,396
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Kip BeachamChair
Stephen H LutherVice Chairman
Allyce HeflinDirector
Beth BrunnerDirector
Kevin ViauDirector
Matt WeberDirector
Mike LarosaDirector
Karin HoffmanSecretary
Ada ReneauTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$38,750
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$38,750
Change in Net Assets
$11,056

Audited Revenue Reconciliation

Revenue per Audited Statements
$38,750
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$108,332
Total Revenue per Audited Statements
$147,082
Total Revenue per Form 990
$38,750
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$21,694
Grants and Similar Amounts Paid$6,000
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other-$7,500-$7,500
Grants to Domestic Individuals$6,000--$6,000
Office Expenses$3,081$1,520-$4,601
Occupancy$4,500--$4,500
Fees for Services Legal-$1,780-$1,780
Information Technology$1,606--$1,606
Other Expenses$1,116--$1,116
Insurance-$591-$591
Total Functional Expenses$16,303$11,391$0$27,694

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$136,026
Expenses Not Reported on Form 990$108,332
Expenses per Audited Statements$27,694
Total Expenses per Form 990$27,694
Expenses Not Reported on Financial Statements$0
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
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
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
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The board of directors review the form 990 annually. Any questions about the content are answered and any changes required as a result of the review are made. The final form 990 is then made available to the board before filing.”

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

“Conflicts of interests are reviewed annually.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available upon request.”

Filing and Contact Details

Filer

Filer Name
Flvs Foundation Inc
EIN
80-0617347
Phone
4075133352
Address
2145 METROCENTER BLVD NO 100, ORLANDO, FL 32835

Signing Officer

Name
Rene Plasencia
Title
Executive Director
Phone
4075133352
Signed
2020-09-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kip Beacham
Formed
2010
Legal Domicile
Fl
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
12

Preparer

Firm
Msl Pa
Address
255 S ORANGE AVENUE SUITE 600, ORLANDO, FL 32801
Preparer
Norman B Neal CPA
Phone
4077405400
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 3

“During the 2019 year, the foundation focused on academic achievements and the student clubs; they ceased to provide professional development services to their staff members.”

Form 990, Part IX, Line 11G

“Professional fees: program service expenses 0. Management and general expenses 7,500. Fundraising expenses 0. Total expenses 7,500.”

Form 990 Part XII Line 2C

“Oversight of audit and selection of independent accountant: the audit committee is responsible for the selection, monitoring and evaluation of an independent audit firm and oversight of the audit of its financial statements. There was no change in this process from the prior year.”

Financial Statement Notes

PART X, LINE 2:

“The foundation is exempt from income taxes under section 501(c)(3) of the irc and from state income taxes under similar provisions of the florida statutes. Although the foundation was granted an income tax exemption, such exemption does not apply to unrelated business income. At june 30, 2020, no liability for unrelated business income taxes existed. The foundation has adopted the application of the uncertain tax position provisions of fasb asc 740, income taxes. It prescribes an evaluation process for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. It also provides guidance on de-recognition, classification, interest, and penalties, disclosure, and transitions. The provisions had no impact on the foundation's financial statements. As of june 30, 2020, the foundation has accrued no interest and penalties related to uncertain tax positions. It is the foundation's policy to recognize interest and penalties related to income tax matters as expense. As of june 30, 2020, the foundation is no longer subject to income tax examinations by united states federal taxing authorities for any tax years prior to the past three years.”

Raw XML Appendix376 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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IRS990/ActivityOrMissionDesc0SEE SCHEDULE O.FLVS FOUNDATION, INC. INVESTS ITS RESOURCES TO PROVIDE ACCESS TO FLORIDA VIRTUAL SCHOOL EDUCATION FOR UNDER-SERVED STUDENTS. THE FOUNDATION STRIVES TO ENSURE ALL STUDENTS HAVE ACCESS TO WORLD-CLASS EDUCATION AND QUALITY ONLINE LEARNING OPPORTUNITIES THAT PREPARE THEM FOR A LIFETIME FOR SUCCESS.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE IRC AND FROM STATE INCOME TAXES UNDER SIMILAR PROVISIONS OF THE FLORIDA STATUTES. ALTHOUGH THE FOUNDATION WAS GRANTED AN INCOME TAX EXEMPTION, SUCH EXEMPTION DOES NOT APPLY TO UNRELATED BUSINESS INCOME. AT JUNE 30, 2020, NO LIABILITY FOR UNRELATED BUSINESS INCOME TAXES EXISTED. THE FOUNDATION HAS ADOPTED THE APPLICATION OF THE UNCERTAIN TAX POSITION PROVISIONS OF FASB ASC 740, INCOME TAXES. IT PRESCRIBES AN EVALUATION PROCESS FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. IT ALSO PROVIDES GUIDANCE ON DE-RECOGNITION, CLASSIFICATION, INTEREST, AND PENALTIES, DISCLOSURE, AND TRANSITIONS. THE PROVISIONS HAD NO IMPACT ON THE FOUNDATION'S FINANCIAL STATEMENTS. AS OF JUNE 30, 2020, THE FOUNDATION HAS ACCRUED NO INTEREST AND PENALTIES RELATED TO UNCERTAIN TAX POSITIONS. IT IS THE FOUNDATION'S POLICY TO RECOGNIZE INTEREST AND PENALTIES RELATED TO INCOME TAX MATTERS AS EXPENSE. AS OF JUNE 30, 2020, THE FOUNDATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY UNITED STATES FEDERAL TAXING AUTHORITIES FOR ANY TAX YEARS PRIOR TO THE PAST THREE YEARS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleI/GrantRecordsMaintainedInd01
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0STUDENT SCHOLARSHIPS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt05
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0FOR A STUDENT TO BE CONSISDERED FOR A SCHOLARSHIP, THE STUDENT MUST BE ENROLLED IN FLVS FULL TIME, EXCELLED IN SCHOOL DESPITE OVERCOMING CHALLENGES, AND MAINTAIN A WEIGHTED GRADE POINT AVERAGE OF AT LEAST 3.0. THE FOUNDATION NOTIFIES FLVS'S PRINCIPAL THAT THE SCHOLARSHIPS ARE BEING OFFERED AND STUDENTS ARE THEN NOMINATED BY TEACHERS/COOUNSELORS FOR THE SCHOLARSHIP. ONCE NOMINATED, THE STUDENT IS ADVISED AND, IF INTERESTED, THEY MUST SUBMIT A BRIEF ESSAY TO THE FOUNDATION ALONG WITH THE NAME OF THE COLLEGE THEY WILL BE ATTENDING AND A PERMISSION FORM SIGNED BY A PARENT/GUARDIAN. THE FOUNDATION REVIEWS THE SUBMISSIONS AND SELECTS RECIPIENTS. ONCE SELECTED, THE FOUNDATION SENDS SCHOLARSHIP CHECKS TO THE STUDENTS' COLLEGE.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DURING THE 2019 YEAR, THE FOUNDATION FOCUSED ON ACADEMIC ACHIEVEMENTS AND THE STUDENT CLUBS; THEY CEASED TO PROVIDE PROFESSIONAL DEVELOPMENT SERVICES TO THEIR STAFF MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS REVIEW THE FORM 990 ANNUALLY. ANY QUESTIONS ABOUT THE CONTENT ARE ANSWERED AND ANY CHANGES REQUIRED AS A RESULT OF THE REVIEW ARE MADE. THE FINAL FORM 990 IS THEN MADE AVAILABLE TO THE BOARD BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CONFLICTS OF INTERESTS ARE REVIEWED ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 7,500. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 7,500.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5OVERSIGHT OF AUDIT AND SELECTION OF INDEPENDENT ACCOUNTANT: THE AUDIT COMMITTEE IS RESPONSIBLE FOR THE SELECTION, MONITORING AND EVALUATION OF AN INDEPENDENT AUDIT FIRM AND OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS. THERE WAS NO CHANGE IN THIS PROCESS FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990 PART XII LINE 2C
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd01
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalEmployeeCnt00
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IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt012
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0255 S ORANGE AVENUE SUITE 600
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ORLANDO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd032801
ReturnHeader/PreparerPersonGrp/PhoneNum04077405400
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0NORMAN B NEAL CPA
ReturnHeader/ReturnTs02020-09-22T10:27:05-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-07-01
ReturnHeader/TaxPeriodEndDt02020-06-30
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$101,446
Liabilities
$0
Net assets
$101,446
Revenue
$38,750
Expenses
$27,694
Net income
$11,056
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.75$0.11$0.63$0.38$0.82$0.44
2023Detailed filing. Detailed filing data is available for this year.$1.12$0.05$1.07$1.64$1.10$0.53
2022Detailed filing. Detailed filing data is available for this year.$0.67$0.13$0.53$0.99$1.00$0.01
2021Detailed filing. Detailed filing data is available for this year.$0.63$0.09$0.54$0.42$0.89$0.47
2020Detailed filing. Detailed filing data is available for this year.$1.01$0.00$1.01$0.39$0.28$0.11
2019Detailed filing. Detailed filing data is available for this year.$0.91$0.01$0.90$1.50$2.00$0.50
2018Summary only. Only limited summary data is available for this year.$1.41$0.00$1.41$3.30$3.48$0.18
2017Detailed filing. Detailed filing data is available for this year.$1.59$0.00$1.59$3.07$5.64$2.57
2016Detailed filing. Detailed filing data is available for this year.$4.15$0.00$4.15$1.17$0.85$0.32
2015Detailed filing. Detailed filing data is available for this year.$5.55$1.71$3.84$9.94$9.28$0.66
2014Detailed filing. Detailed filing data is available for this year.$3.99$0.81$3.18$4.52$3.90$0.62
2013Summary only. Only limited summary data is available for this year.$2.99$0.43$2.56$3.45$2.61$0.84
2012Summary only. Only limited summary data is available for this year.$1.81$0.00$1.81$2.39$2.26$0.13
2011Summary only. Only limited summary data is available for this year.$1.68$0.00$1.68$1.87$0.19$1.68
2010Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00