Civic Intelligence

Phoenix Education Network Inc

EIN 84-2776904 • 501(c)3 • Naples, FL

Naples, FL
Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

95th percentile

1.02x

Higher debt load relative to assets than 95% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2025

Liabilities / Revenue

88th percentile

2.27x

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

501(c)3 • $25M-$50M nonprofits • Source year 2025

Net Margin

59th percentile

8.3%

Higher net margin than 59% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2025

Top Officer Pay

9th percentile

$0

Higher top officer pay than 9% of similar nonprofits.

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

501(c)3 • $25M-$50M nonprofits • Source year 2025

Asset Growth

77th percentile

15%

Faster asset growth than 77% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2024 to 2025

Revenue Growth

21st percentile

-6.2%

Faster revenue growth than 21% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2024 to 2025

Assets

Up

$27,670,954

Up $3,678,186 (+15%) from 2023

Liabilities

Up

$28,263,565

Up $1,755,495 (+6.6%) from 2023

Net Assets

Up

-$592,611

Up $1,922,691 (+76%) from 2023

Revenue

Up

$12,475,423

Up $435,161 (+3.6%) from 2023

Expenses

Down

$11,442,739

Down $680,072 (-5.6%) from 2023

Net Income

Up

$1,032,684

Up $1,115,233 (+1351%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$30M$20M$10M$0-$10MAssets 2021: $24,751,183Liabilities 2021: $25,472,557Net Assets 2021: -$721,3742021Assets 2022: $24,220,134Liabilities 2022: $26,694,477Net Assets 2022: -$2,474,3432022Assets 2023: $23,992,768Liabilities 2023: $26,508,070Net Assets 2023: -$2,515,3022023Assets 2025: $27,670,954Liabilities 2025: $28,263,565Net Assets 2025: -$592,6112025

Highlighted filing

2025

Assets$27,670,954
Liabilities$28,263,565
Net Assets-$592,611

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$15M$10M$5.0M$0-$5.0MRevenue 2021: $82,961Expenses 2021: $765,401Net Income 2021: -$682,4402021Revenue 2022: $10,447,056Expenses 2022: $11,571,902Net Income 2022: -$1,124,8462022Revenue 2023: $12,040,262Expenses 2023: $12,122,811Net Income 2023: -$82,5492023Revenue 2025: $12,475,423Expenses 2025: $11,442,739Net Income 2025: $1,032,6842025

Highlighted filing

2025

Revenue$12,475,423
Expenses$11,442,739
Net Income$1,032,684

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Nov 11, 2025
Return Version
2024v5.2
Gross Receipts
$12,847,916
Mission and Program Overview

Mission

To train the minds and improve the hearts of young people through a content-rich classical education in the liberal arts and sciences, with instruction in the principles of moral character and civic virtue.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$18,887,098$18,193,926▼ $693,172
Savings and Temporary Cash Investments$1,729,708$5,133,351▲ $3,403,643
Cash and Non-Interest-Bearing Accounts$1,762,119$2,502,088▲ $739,969
Investments Other Securities$88,450$88,450→ $0
Accounts Receivable$27,440$25,677▼ $1,763
Prepaid Expenses and Deferred Charges$41,242$12,555▼ $28,687
Total Assets$24,092,298$27,670,954▲ $3,578,656
Other Assets Total$1,556,241$1,714,907▲ $158,666
Liabilities
Tax Exempt Bond Liabilities$23,150,000$27,510,000▲ $4,360,000
Other Liabilities$1,530,000$0▼ $1,530,000
Unsecured Notes Loans Payable$550,000$400,000▼ $150,000
Accounts Payable and Accrued Expenses$487,593$353,565▼ $134,028
Total Liabilities$25,717,593$28,263,565▲ $2,545,972
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-1,625,295$-592,611▲ $1,032,684
Total Net Assets Fund Balance$-1,625,295$-592,611▲ $1,032,684
Total Liabilities and Net Assets / Fund Balance$24,092,298$27,670,954▲ $3,578,656

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$13,247,864$1,270,297$14,518,161
Land$4,627,507-$4,627,507
Equipment$55,594$855,745$911,339
Other Land Buildings$262,961-$262,961
Other Assets Org$1,714,907--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Matthew MathiasChairman
Courtney Sowerby-ThomasDirector
David GoochDirector
Mark RussoDirector
William TruogDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
PaychexPayroll Services970 Lake Carillon Drive STE 400, St Petersburg, FL 33716$6,068,928
Optima Management Services LLCManagement Services3369 Pine Ridge Road Unit 204, Naples, FL 34109$809,561
Summit Construction Management GroupConstruction3603 Beachwood Court, Jacksonville, FL 32224$215,993
Lintons Food Service ManagmentFood Services10 Sentry Parkway Suite 110, Blue Bell, PA 19422$201,453
IPFS CorporationInsurance3632 Queen Palm Drive STE 160, Tampa, FL 33619$169,180
Revenue and Support

Revenue Composition

Contributions and Grants
$11,138,910
Program Service Revenue
$408,390
Investment Income
$928,123
Other Revenue
$0
Change in Net Assets
$1,032,684

Audited Revenue Reconciliation

Revenue per Audited Statements
$12,475,423
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$12,475,423
Total Revenue per Form 990
$12,475,423
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$5,997,153
Other Expenses$5,445,586
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$5,115,441--$5,115,441
Interest$2,365,350--$2,365,350
Fees for Services Management-$809,481-$809,481
Depreciation Depletion$546,790--$546,790
Fees for Services Other$469,117--$469,117
Payroll Taxes$403,356--$403,356
Other Employee Benefits$391,440--$391,440
Office Expenses$279,899--$279,899
Insurance$234,895--$234,895
Occupancy$230,503--$230,503
Pension Plan Contributions$86,916--$86,916
Advertising$77,825--$77,825
Fees for Services Legal$48,117--$48,117
Travel$37,398--$37,398
Information Technology$20,583--$20,583
Other Expenses$14,113--$14,113
Fees for Services Accounting$12,875--$12,875
All Other Expenses$9,595--$9,595
Total Functional Expenses$10,633,258$809,481$0$11,442,739

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$11,442,739
Total Expenses per Audited Statements$11,442,739
Total Expenses per Form 990$11,442,739
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
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
AFl Dev Fin Corp-a2021-01-01$17,550,000School building construction
BFl Dev Fin Corp-b2021-01-01$5,600,000Land Aquisition
CFl Dev Fin Corp-series 20252025-05-05$4,360,000Construction, expansion and equipment for 15,500 square foot Gym.

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$17,550,000--$463,096
B$5,600,000--$147,768
C$4,360,000--$370,600

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
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
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

A copy of the draft form 990 is provided to management and the board of directors. Comments and/or questions are encouraged and resolved before final approval.

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

The organization confirms the enforcement of conflicts of interest through a written annual certification from each board member.

Form 990, Part VI, Section B, line 15A

Compensation process for top official approved by board of directors.

Form 990, Part VI, Section C, line 19

All governing documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Phoenix Education Network Inc
EIN
84-2776904
Phone
2394498773
Address
10270 Immokalee Rd, Naples, FL 34120
Doing Business As
Naples Classical Academy

Signing Officer

Name
Matthew Mathias
Title
Chairman
Phone
2394498773
Signed
2025-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Matthew Mathias
Formed
2019
Legal Domicile
Fl
Voting Board Members
5
Independent Board Members
5
Employees
130
Volunteers
0

Preparer

Firm
Mike Hess CPA PA
Address
1800 W Hibiscus Blvd Ste 133, Melbourne, FL 32901
Preparer
Mike Hess CPA
Phone
3217256151
Supplemental Narrative

Additional Explanations

Form 990; Part XII; Line 2C

The Organization has a finance committee that views and approves the annual audit each year.

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IRS990/ReportProgramRelatedInvstInd00
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IRS990ScheduleE/ComplianceWithRevProc7550Ind01
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IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0PUBLISHED ON THE ORGANIZATION'S WEBSITE.
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02021-01-01
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0FL DEV FIN CORP-A

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