Civic Intelligence

Icon Preparatory School Inc.

990 • Fiscal year 2021 • EIN 82-3938655

Jul 01, 2020 to Jun 30, 2021 • Filed on Apr 22, 2022

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

86th percentile

0.58x

Higher debt load relative to assets than 86% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

59th percentile

0.15x

Higher debt load relative to revenue than 59% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

43rd percentile

8.9%

Higher net margin than 43% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

76th percentile

$117,352

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 3.7% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

97th percentile

237%

Faster asset growth than 97% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

70th percentile

36%

Faster revenue growth than 70% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets86th percentile

Assets

Up

$811,108

Up $570,512 (+237%) from 2020

Net Assets

Up

$342,662

Up $283,201 (+476%) from 2020

Liabilities

Up

$468,446

Up $287,311 (+159%) from 2020

Revenue And Expenses
Liabilities / Revenue59th percentileNet Margin43rd percentile

Revenue

Up

$3,200,785

Up $854,427 (+36%) from 2020

Expenses

Up

$2,917,484

Up $869,724 (+42%) from 2020

Net Income

Down

$283,301

Down $15,297 (-5.1%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth97th 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

2021

Assets$811,108
Liabilities$468,446
Net Assets$342,662
Open 2021 Filing

Operations Trend

Revenue Growth70th 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

2021

Revenue$3,200,785
Expenses$2,917,484
Net Income$283,301
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Apr 22, 2022
Return Version
2020v4.1
Gross Receipts
$3,202,401
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$231,169$629,495▲ $398,326
Prepaid Expenses and Deferred Charges$0$134,202▲ $134,202
Land, Buildings, and Equipment, Net$9,427$37,411▲ $27,984
Loans From Officers Directors$21,200--
Other Notes and Loans Receivable, Net$0$10,000▲ $10,000
Total Assets$240,596$811,108▲ $570,512
Liabilities
Unsecured Notes Loans Payable$159,900$468,069▲ $308,169
Accounts Payable and Accrued Expenses$35$377▲ $342
Total Liabilities$181,135$468,446▲ $287,311
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$59,461$342,662▲ $283,201
Total Net Assets Fund Balance$59,461$342,662▲ $283,201
Total Liabilities and Net Assets / Fund Balance$240,596$811,108▲ $570,512

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$37,411$18,261$0
Compensation and Service Providers
Top Officer Pay76th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Dwayne RaifordPresidentFT$117,352$117,352
Lolita JacksonVice PresidentFT$117,352$117,352
Yuri HiggensPrincipalFT$117,352$117,352
Justin SmithEmployeeFT$107,228$107,228

Board Members and Trustees

NameTitle
Adam BaileyDirector
Jonathan SandersDirector
Linton WestbrookDirector
Nadine HollandSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$594,903
Program Service Revenue
$2,605,882
Investment Income
$0
Other Revenue
$0
All Other Contributions
$229,781
Change in Net Assets
$283,301
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,788,982
Other Expenses$1,128,502
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,072,045$0$0$1,072,045
Current Officers, Directors, Trustees, and Key Employees$344,463$114,821$0$459,284
Occupancy$210,821$23,424$0$234,245
Payroll Taxes$133,159$0$0$133,159
Other Employee Benefits$124,494$0$0$124,494
Advertising$0$53,223$0$53,223
Office Expenses$6,100$38,397$0$44,497
Other Expenses$38,173$0$0$38,173
Depreciation Depletion$12,064$0$0$12,064
Travel$11,519$0$0$11,519
Fees for Services Accounting$0$9,000$0$9,000
Total Functional Expenses$2,678,619$238,865$0$2,917,484
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$21,200--
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
2022-04-22
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.”

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IRS990ScheduleD/EquipmentGrp/DepreciationAmt018261
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt055672
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/FootnoteTextInd0X
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.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt X, Line 2
IRS990ScheduleD/TotalBookValueLandBuildingsAmt037411
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
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
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Line 6b
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Line 3
IRS990/ScheduleJRequiredInd0false
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
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IRS990/TotalAssetsEOYAmt0811108
IRS990/TotalAssetsGrp/BOYAmt0240596
IRS990/TotalAssetsGrp/EOYAmt0811108
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0594903
IRS990/TotalEmployeeCnt045
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0238865
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02678619
IRS990/TotalFunctionalExpensesGrp/TotalAmt02917484
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0181135
IRS990/TotalLiabilitiesEOYAmt0468446
IRS990/TotalLiabilitiesGrp/BOYAmt0181135
IRS990/TotalLiabilitiesGrp/EOYAmt0468446
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt059461
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0342662
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt02678619
IRS990/TotalProgramServiceRevenueAmt02605882
IRS990/TotalReportableCompFromOrgAmt0459284
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02605882
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03200785
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0240596
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0811108
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/FundraisingAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt00
IRS990/TravelGrp/ProgramServicesAmt011519
IRS990/TravelGrp/TotalAmt011519
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0159900
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0468069
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/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DWAYNE RAIFORD
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08139673000
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-04-22
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/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Robert Walker CPA PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02803 W Busch Blvd Ste 106
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Tampa
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$811,108
Liabilities
$468,446
Net assets
$342,662
Revenue
$3,200,785
Expenses
$2,917,484
Net income
$283,301
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