Civic Intelligence

Kipp Miami Inc.

990 • Fiscal year 2020 • EIN 81-4473475

Jul 01, 2019 to Jun 30, 2020 • Filed on Feb 19, 2021

Organization ProfileWWW.KIPPMIAMI.ORG
6475 NW 23rd AveMiami, FL 33147

(305) 694-4162

Siviq Scores

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

Liabilities / Assets

45th percentile

0.29x

Higher debt load relative to assets than 45% of similar nonprofits.

2020 filings • NTEE B • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

33rd percentile

0.13x

Higher debt load relative to revenue than 33% of similar nonprofits.

2020 filings • NTEE B • $5M-$10M nonprofits • Source year 2020

Net Margin

83rd percentile

19%

Higher net margin than 83% of similar nonprofits.

2020 filings • NTEE B • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

44th percentile

$116,059

Higher top officer pay than 44% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

2020 filings • NTEE B • $5M-$10M nonprofits • Source year 2020

Asset Growth

93rd percentile

126%

Faster asset growth than 93% of similar nonprofits.

2020 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

96th percentile

142%

Faster revenue growth than 96% of similar nonprofits.

2020 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets45th percentile

Assets

Up

$3,738,437

Up $2,081,781 (+126%) from 2019

Net Assets

Up

$2,657,952

Up $1,613,302 (+154%) from 2019

Liabilities

Up

$1,080,485

Up $468,479 (+77%) from 2019

Revenue And Expenses
Liabilities / Revenue33rd percentileNet Margin83rd percentile

Revenue

Up

$8,589,088

Up $5,039,364 (+142%) from 2019

Expenses

Up

$6,962,100

Up $3,810,001 (+121%) from 2019

Net Income

Up

$1,626,988

Up $1,229,363 (+309%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth93rd percentile

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

$80M$60M$40M$20M$0Assets 2019: $1,656,656Liabilities 2019: $612,006Net Assets 2019: $1,044,6502019Assets 2020: $3,738,437Liabilities 2020: $1,080,485Net Assets 2020: $2,657,9522020Assets 2021: $8,034,638Liabilities 2021: $1,512,483Net Assets 2021: $6,522,1552021Assets 2022: $28,180,402Liabilities 2022: $21,374,065Net Assets 2022: $6,806,3372022Assets 2023: $51,607,757Liabilities 2023: $45,751,430Net Assets 2023: $5,856,3272023Assets 2024: $61,454,967Liabilities 2024: $53,549,405Net Assets 2024: $7,905,5622024

Highlighted filing

2020

Assets$3,738,437
Liabilities$1,080,485
Net Assets$2,657,952
Open 2020 Filing

Operations Trend

Revenue Growth96th percentile

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

$30M$20M$10M$0-$10MRevenue 2019: $3,549,724Expenses 2019: $3,152,099Net Income 2019: $397,6252019Revenue 2020: $8,589,088Expenses 2020: $6,962,100Net Income 2020: $1,626,9882020Revenue 2021: $15,019,302Expenses 2021: $11,155,099Net Income 2021: $3,864,2032021Revenue 2022: $22,928,361Expenses 2022: $22,644,179Net Income 2022: $284,1822022Revenue 2023: $24,933,606Expenses 2023: $25,883,616Net Income 2023: -$950,0102023Revenue 2024: $27,364,171Expenses 2024: $25,314,936Net Income 2024: $2,049,2352024

Highlighted filing

2020

Revenue$8,589,088
Expenses$6,962,100
Net Income$1,626,988
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Feb 19, 2021
Return Version
2019v5.2
Gross Receipts
$8,589,088
Mission and Program Overview

Mission

Kipp miami public schools seek to create and sustain high achieving and inspiring community schools that battle inequity by empowering students to develop the knowledge, skills, character strengths, and habits to thrive in college and beyond, shape their futures, and positively impact the world.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$670,105$1,963,034▲ $1,292,929
Accounts Receivable$304,210$278,220▼ $25,990
Prepaid Expenses and Deferred Charges$6,262--
Total Assets$1,656,656$3,738,437▲ $2,081,781
Other Assets Total$676,079$1,497,183▲ $821,104
Liabilities
Unsecured Notes Loans Payable-$716,592-
Other Liabilities$392,745$0▼ $392,745
Accounts Payable and Accrued Expenses$219,261$209,099▼ $10,162
Deferred Revenue-$154,794-
Total Liabilities$612,006$1,080,485▲ $468,479
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,044,650$2,157,952▲ $1,113,302
Net Assets With Donor Restrictions-$500,000-
Total Net Assets Fund Balance$1,044,650$2,657,952▲ $1,613,302
Total Liabilities and Net Assets / Fund Balance$1,656,656$3,738,437▲ $2,081,781

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$24,875--
Compensation and Service Providers
Top Officer Pay44th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Leyla BravoSchool LeaderFT$116,059$116,059

Board Members and Trustees

NameTitle
Bill DiggsChairman
Billy KraussDirector
Dan AdanDirector
Deborah DaumanDirector
Jeb Bush JrDirector
Larry QuinlanDirector
Sherelle HardenDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$8,589,088
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$2,922,337
Change in Net Assets
$1,626,988

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,589,088
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$8,589,088
Total Revenue per Form 990
$8,589,088
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,429,915
Other Expenses$2,532,185
Total Fundraising Expense$80,457
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,029,190$432,741-$3,461,931
Fees for Services Other$315,296$759,271$80,457$1,155,024
Occupancy$587,242--$587,242
Other Employee Benefits$511,331$73,047-$584,378
Travel$408,842--$408,842
Office Expenses$330,813$48,930-$379,743
Payroll Taxes$222,919$31,845-$254,764
Pension Plan Contributions$112,683$16,159-$128,842
Interest-$1,334-$1,334
Total Functional Expenses$5,518,316$1,363,327$80,457$6,962,100

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$6,962,100
Total Expenses per Audited Statements$6,962,100
Total Expenses per Form 990$6,962,100
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$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
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

“Management will review the form 990 prior to filing.”

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

“No officer, trustee or employee of kipp miami shall have a personal interest in any contract with kipp miami or in compensation for work done for or materials or supplies furnished to kipp miami or to any contractor or other person, or to receive any compensation, commission, gift or other reward for his services except the salary or fees established by the board or pursuant to law. In connection with any actual or possible conflict of interest, an interested person should disclose the existence of the interest and be given the opportunity to disclose all material facts to the ceo, directors, officers, key employees or members of committees with governing board delegated powers considering the proposed transaction or arrangement. Annually each director, officer, employee and volunteer shall complete a disclosure form identifying any relationships, positions or circumstances in which he or she is involved that he or she believes could contribute to a conflict of interest. Such relationships, positions or circumstances might include service as a director of or consultant to another nonprofit organization, or ownership of a business that might provide goods or services to kipp miami.”

Form 990, Part VI, Section B, Line 15

“The officer's compensation is determined by the board. The board reviews the comparable compensation packages with other organizations as part of its decision making process.”

Form 990, Part VI, Section C, Line 19

“The governing documents, conflict of interest policy and financial statements are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Kipp Miami Inc
EIN
81-4473475
Phone
3056944162
Address
6475 NW 23RD AVE, MIAMI, FL 33147

Signing Officer

Name
Monica Kress
Title
Managing Director of Operations
Phone
3056944162
Signed
2021-02-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Monica Kress
Formed
2018
Legal Domicile
Fl
Voting Board Members
7
Independent Board Members
7
Employees
67
Volunteers
0

Preparer

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

Additional Explanations

Form 990, Part IX, Line 11G

“Services and professional fees: program service expenses 315,296. Management and general expenses 759,271. Fundraising expenses 80,457. Total expenses 1,155,024.”

FORM 990, PART XI, LINE 9:

“Adjustment to agree prior year tax return to audited financial statements. -13,686.”

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 6/30/20, 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 2017.”

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IRS990/Desc0KIPP MIAMI OFFERS A NEW MODEL AND EDUCATION ALTERNATIVE FOR FAMILIES AND STUDENTS IN OUR COMMUNITY. KIPP MIAMI, INC. OPENED THEIR FOUNDING SCHOOL KIPP SUNRISE ACADEMY EFFECTIVE JULY 1, 2018. SINCE THAT TIME, KIPP MIAMI HAS GROWN TO INCLUDE 3 SCHOOLS, WITH THE NEWEST SCHOOL, KIPP COURAGE ACADEMY, OPENING AS OF JULY 1, 2020. WITH KIPP MIAMI'S GROWTH, THEY ARE NOW SERVING NEARLY 700 STUDENTS IN TOTAL BETWEEN ELEMENTARY AND MIDDLE SCHOOL IN SOME OF THE COMMUNITIES' MOST UNDERSERVED AREAS, AND THOSE STUDENTS ARE RECEIVING THAT OPPORTUNITY WITH AN EDUCATIONAL ALTERNATIVE THAT IS COMMITTED TO SEE THEM SUCEED TO AND THROUGH COLLEGE.
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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt113760
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt224875
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0FLORIDA DEPARTMENT OF EDUCATION
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1MIAMI DADE COUNTY PUBLIC SCHOOL BOARD
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2KIPP FOUNDATION, INC.
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IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt08589088
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 6/30/20, 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 2017.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleD/TotalExpensesPerForm990Amt06962100
IRS990ScheduleD/TotalRevenuePerForm990Amt08589088
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IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt06962100
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd00
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION POSTS ON THEIR APPLICATION PAGE ON THEIR WEBSITE AND ON ALL STUDENT ENROLLMENT MATERIALS THAT THEY WELCOME ALL STUDENTS TO KIPP MIAMI, INCLUDING STUDENTS WITH SPECIAL NEEDS.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT WILL REVIEW THE FORM 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO OFFICER, TRUSTEE OR EMPLOYEE OF KIPP MIAMI SHALL HAVE A PERSONAL INTEREST IN ANY CONTRACT WITH KIPP MIAMI OR IN COMPENSATION FOR WORK DONE FOR OR MATERIALS OR SUPPLIES FURNISHED TO KIPP MIAMI OR TO ANY CONTRACTOR OR OTHER PERSON, OR TO RECEIVE ANY COMPENSATION, COMMISSION, GIFT OR OTHER REWARD FOR HIS SERVICES EXCEPT THE SALARY OR FEES ESTABLISHED BY THE BOARD OR PURSUANT TO LAW. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON SHOULD DISCLOSE THE EXISTENCE OF THE INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE CEO, DIRECTORS, OFFICERS, KEY EMPLOYEES OR MEMBERS OF COMMITTEES WITH GOVERNING BOARD DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. ANNUALLY EACH DIRECTOR, OFFICER, EMPLOYEE AND VOLUNTEER SHALL COMPLETE A DISCLOSURE FORM IDENTIFYING ANY RELATIONSHIPS, POSITIONS OR CIRCUMSTANCES IN WHICH HE OR SHE IS INVOLVED THAT HE OR SHE BELIEVES COULD CONTRIBUTE TO A CONFLICT OF INTEREST. SUCH RELATIONSHIPS, POSITIONS OR CIRCUMSTANCES MIGHT INCLUDE SERVICE AS A DIRECTOR OF OR CONSULTANT TO ANOTHER NONPROFIT ORGANIZATION, OR OWNERSHIP OF A BUSINESS THAT MIGHT PROVIDE GOODS OR SERVICES TO KIPP MIAMI.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE OFFICER'S COMPENSATION IS DETERMINED BY THE BOARD. THE BOARD REVIEWS THE COMPARABLE COMPENSATION PACKAGES WITH OTHER ORGANIZATIONS AS PART OF ITS DECISION MAKING PROCESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4SERVICES AND PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 315,296. MANAGEMENT AND GENERAL EXPENSES 759,271. FUNDRAISING EXPENSES 80,457. TOTAL EXPENSES 1,155,024.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ADJUSTMENT TO AGREE PRIOR YEAR TAX RETURN TO AUDITED FINANCIAL STATEMENTS. -13,686.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9:
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IRS990ScheduleR/AssetSaleToOtherOrgInd00
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 2
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IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
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IRS990/TotalContributionsAmt08589088
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01363327
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt05518316
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IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01656656
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03738437
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IRS990/TravelGrp/TotalAmt0408842
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IRS990/WebsiteAddressTxt0WWW.KIPPMIAMI.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MONICA KRESS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0MANAGING DIRECTOR OF OPERATIONS
ReturnHeader/BusinessOfficerGrp/PhoneNum03056944162
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-02-19
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0KIPP MIAMI INC
ReturnHeader/Filer/BusinessNameControlTxt0KIPP
ReturnHeader/Filer/EIN0814473475
ReturnHeader/Filer/PhoneNum03056944162
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ReturnHeader/Filer/USAddress/ZIPCd033147
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0204989621
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0VERDEJA DE ARMAS & TRUJILLO LLP

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
$3,738,437
Liabilities
$1,080,485
Net assets
$2,657,952
Revenue
$8,589,088
Expenses
$6,962,100
Net income
$1,626,988
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$61.5$53.5$7.91$27.4$25.3$2.05
2023Detailed filing. Detailed filing data is available for this year.$51.6$45.8$5.86$24.9$25.9$0.95
2022Detailed filing. Detailed filing data is available for this year.$28.2$21.4$6.81$22.9$22.6$0.28
2021Detailed filing. Detailed filing data is available for this year.$8.03$1.51$6.52$15.0$11.2$3.86
2020Detailed filing. Detailed filing data is available for this year.$3.74$1.08$2.66$8.59$6.96$1.63
2019Detailed filing. Detailed filing data is available for this year.$1.66$0.61$1.04$3.55$3.15$0.40