Civic Intelligence

Icon Preparatory School Inc.

990 • Fiscal year 2020 • EIN 82-3938655

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

Organization Profilewww.iconprep.org
1906 N Rome AveTampa, FL 33607

(813) 967-3000

Siviq Scores

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

Liabilities / Assets

88th percentile

0.75x

Higher debt load relative to assets than 88% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

39th percentile

0.08x

Higher debt load relative to revenue than 39% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

64th percentile

13%

Higher net margin than 64% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

96th percentile

183%

Faster asset growth than 96% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

94th percentile

124%

Faster revenue growth than 94% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets88th percentile

Assets

Up

$240,596

Up $155,444 (+183%) from 2019

Net Assets

Up

$59,461

Up $298,009 (+125%) from 2019

Liabilities

Down

$181,135

Down $142,565 (-44%) from 2019

Revenue And Expenses
Liabilities / Revenue39th percentileNet Margin64th percentile

Revenue

Up

$2,346,358

Up $1,300,175 (+124%) from 2019

Expenses

Up

$2,047,760

Up $808,627 (+65%) from 2019

Net Income

Up

$298,598

Up $491,548 (+255%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth96th percentile

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

$10M$5.0M$0-$5.0MAssets 2019: $85,152Liabilities 2019: $323,700Net Assets 2019: -$238,5482019Assets 2020: $240,596Liabilities 2020: $181,135Net Assets 2020: $59,4612020Assets 2021: $811,108Liabilities 2021: $468,446Net Assets 2021: $342,6622021Assets 2022: $2,740,902Liabilities 2022: $2,000,000Net Assets 2022: $740,9022022Assets 2023: $2,245,211Liabilities 2023: $2,010,307Net Assets 2023: $234,9042023Assets 2024: $8,004,739Liabilities 2024: $7,233,570Net Assets 2024: $771,1692024Assets 2025: $7,800,029Liabilities 2025: $6,903,550Net Assets 2025: $896,4792025

Highlighted filing

2020

Assets$240,596
Liabilities$181,135
Net Assets$59,461
Open 2020 Filing

Operations Trend

Revenue Growth94th percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2019: $1,046,183Expenses 2019: $1,239,133Net Income 2019: -$192,9502019Revenue 2020: $2,346,358Expenses 2020: $2,047,760Net Income 2020: $298,5982020Revenue 2021: $3,200,785Expenses 2021: $2,917,484Net Income 2021: $283,3012021Revenue 2022: $3,987,792Expenses 2022: $3,589,552Net Income 2022: $398,2402022Revenue 2023: $4,253,703Expenses 2023: $4,759,701Net Income 2023: -$505,9982023Revenue 2024: $4,214,664Expenses 2024: $4,257,754Net Income 2024: -$43,0902024Revenue 2025: $6,576,473Expenses 2025: $6,451,163Net Income 2025: $125,3102025

Highlighted filing

2020

Revenue$2,346,358
Expenses$2,047,760
Net Income$298,598
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Oct 22, 2020
Return Version
2019v5.1
Gross Receipts
$2,346,358
Mission and Program Overview

Mission

To provide a comprehensive college preparatory education and character development to students that leads to their success in college and life.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$68,852$231,169▲ $162,317
Loans From Officers Directors$323,700$21,200▼ $302,500
Land, Buildings, and Equipment, Net$16,300$9,427▼ $6,873
Total Assets$85,152$240,596▲ $155,444
Liabilities
Unsecured Notes Loans Payable-$159,900-
Accounts Payable and Accrued Expenses-$35-
Total Liabilities$323,700$181,135▼ $142,565
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-238,548$59,461▲ $298,009
Total Net Assets Fund Balance$-238,548$59,461▲ $298,009
Total Liabilities and Net Assets / Fund Balance$85,152$240,596▲ $155,444

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$9,427$9,427-
Compensation and Service Providers
Top Officer Pay37th percentile

Board Members and Trustees

NameTitle
Dwayne RaifordPresident
Lolita JacksonVice President
Adam BaileyDirector
Jonathan SandersDirector
Linton WestbrokkkDirector
Nadine HollandSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$266,215
Program Service Revenue
$2,080,143
Investment Income
$0
Other Revenue
$0
All Other Contributions
$5,181
Change in Net Assets
$298,598
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,251,833
Other Expenses$795,927
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,148,470$0$0$1,148,470
Occupancy$172,030$19,114$0$191,144
Payroll Taxes$103,363$0$0$103,363
Office Expenses$28,958$28,957$0$57,915
Other Expenses$40,588$0$0$40,588
Advertising$30,969$7,741$0$38,710
Travel$9,980$0$0$9,980
Depreciation Depletion$6,285$0$0$6,285
Fees for Services Accounting$0$6,000$0$6,000
Interest$1,388$1,388$0$2,776
Total Functional Expenses$1,984,560$63,200$0$2,047,760
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$323,700$21,200▼ $302,500
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
No
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
Filing and Contact Details

Filer

Filer Name
Icon Preparatory School Inc
EIN
82-3938655
Phone
8139673000
Address
1906 N ROME AVE, TAMPA, FL 33607

Signing Officer

Name
Dwayne Raiford
Title
President
Phone
8139673000
Signed
2020-10-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dwayne Raiford
Formed
2018
Legal Domicile
Fl
Voting Board Members
6
Independent Board Members
6
Employees
45
Volunteers
5

Preparer

Firm
Robert Walker CPA PA
Address
2803 W Busch Blvd Ste 106, Tampa, FL 33618
Preparer
Robert Walker CPA
Phone
8136248643
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“The 990 is prepared by an independent cpa firm and a draft is provided to management for review. The final 990 is provided to the board for approval.”

Pt VI, Line 12C

“State of florida required board training reminds board members to recuse from voting on any item that may be a conflict of interest.”

Pt VI, Line 15B

“The principal is paid similar to the school district's pay scale, including a difference for additional hours and additional duties.”

Financial Statement Notes

Pt X, Line 2

“The School is exempt from Federal tax under Section 501(c)(3) of the Internal Revenue Code. Accordingly, no provision for income taxes has been included in the accompanying financial statements. Additionally, no uncertain tax positions have been made requiring disclosure in the related note to financial statements. The Schools income tax returns for the past three years are subject to examination by tax authorities and may change upon examination.”

Raw XML Appendix393 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/SupplementalInformationDetail/ExplanationTxt0The School is exempt from Federal tax under Section 501(c)(3) of the Internal Revenue Code. Accordingly, no provision for income taxes has been included in the accompanying financial statements. Additionally, no uncertain tax positions have been made requiring disclosure in the related note to financial statements. The Schools income tax returns for the past three years are subject to examination by tax authorities and may change upon examination.
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0RECEIVES GRANTS THROUGH FLORIDA DEPT OF EDUCATION and AGRICULTURE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1The Organization publicizes their racially non-discrimination policy through newspaper, direct mailings, open houses, and other naterials regarding the School. NA
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt0323700
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0Lolita Jackson
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0Director
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd0true
IRS990ScheduleL/TotalBalanceDueAmt021200
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 990 IS PREPARED BY AN INDEPENDENT CPA FIRM AND A DRAFT IS PROVIDED TO MANAGEMENT FOR REVIEW. THE FINAL 990 IS PROVIDED TO THE BOARD FOR APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1STATE OF FLORIDA REQUIRED BOARD TRAINING REMINDS BOARD MEMBERS TO RECUSE FROM VOTING ON ANY ITEM THAT MAY BE A CONFLICT OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE PRINCIPAL IS PAID SIMILAR TO THE SCHOOL DISTRICT'S PAY SCALE, INCLUDING A DIFFERENCE FOR ADDITIONAL HOURS AND ADDITIONAL DUTIES.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 15b
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt085152
IRS990/TotalAssetsEOYAmt0240596
IRS990/TotalAssetsGrp/BOYAmt085152
IRS990/TotalAssetsGrp/EOYAmt0240596
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0266215
IRS990/TotalEmployeeCnt045
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt063200
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01984560
IRS990/TotalFunctionalExpensesGrp/TotalAmt02047760
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0323700
IRS990/TotalLiabilitiesEOYAmt0181135
IRS990/TotalLiabilitiesGrp/BOYAmt0323700
IRS990/TotalLiabilitiesGrp/EOYAmt0181135
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-238548
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt059461
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01984560
IRS990/TotalProgramServiceRevenueAmt02080143
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02080143
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02346358
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt085152
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0240596
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/FundraisingAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt00
IRS990/TravelGrp/ProgramServicesAmt09980
IRS990/TravelGrp/TotalAmt09980
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0159900
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01906 N ROME AVE
IRS990/USAddress/CityNm0TAMPA
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd033607
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0http://www.iconprep.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DWAYNE RAIFORD
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08139673000
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-10-22
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ICON PREPARATORY SCHOOL INC
ReturnHeader/Filer/BusinessNameControlTxt0ICON
ReturnHeader/Filer/EIN0823938655
ReturnHeader/Filer/PhoneNum08139673000
ReturnHeader/Filer/USAddress/AddressLine1Txt01906 N ROME AVE
ReturnHeader/Filer/USAddress/CityNm0TAMPA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd033607
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId04BF5D565207E71AA19DCDC05B638D3A833FFEAA4
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId04BF5D565207E71AA19DCDC05B638D3A833FFEAA4
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt047.205.0.120
ReturnHeader/FilingSecurityInformation/IPDt02020-10-22
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0PD
ReturnHeader/FilingSecurityInformation/IPTm012:13:35
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Robert Walker CPA PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02803 W Busch Blvd Ste 106
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Tampa
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd033618
ReturnHeader/PreparerPersonGrp/PhoneNum08136248643
ReturnHeader/PreparerPersonGrp/PreparationDt02020-10-22
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Robert Walker CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02020-10-22T12:13:41-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-07-01
ReturnHeader/TaxPeriodEndDt02020-06-30
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$240,596
Liabilities
$181,135
Net assets
$59,461
Revenue
$2,346,358
Expenses
$2,047,760
Net income
$298,598
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$7.80$6.90$0.90$6.58$6.45$0.13
2024Detailed filing. Detailed filing data is available for this year.$8.00$7.23$0.77$4.21$4.26$0.04
2023Detailed filing. Detailed filing data is available for this year.$2.25$2.01$0.23$4.25$4.76$0.51
2022Detailed filing. Detailed filing data is available for this year.$2.74$2.00$0.74$3.99$3.59$0.40
2021Detailed filing. Detailed filing data is available for this year.$0.81$0.47$0.34$3.20$2.92$0.28
2020Detailed filing. Detailed filing data is available for this year.$0.24$0.18$0.06$2.35$2.05$0.30
2019Detailed filing. Detailed filing data is available for this year.$0.09$0.32$0.24$1.05$1.24$0.19