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FLORIDA CHARTER SCHOOL ORGANIZATION INC: Form 990, tax year 2023

View the entire original 990 at ProPublica ↗

Organization
FLORIDA CHARTER SCHOOL ORGANIZATION INC (EIN 83-2718205)
Tax period
2023-07-01 to 2024-06-30
Filed
2025-03-06
IRS object ID
202510659349301126
Schema version
2023v6.0
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2025-03-06T12:45:54-06:00ReturnTs
Tax Period End2024-06-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN204989621PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1VERDEJA & ALVAREZ LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1255 ALHAMBRA CIR STE 630AddressLine1Txt
CityCORAL GABLESCityNm
State AbbreviationFLStateAbbreviationCd
ZIP331347417ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2023-07-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN832718205EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1FLORIDA CHARTER SCHOOL ORGANIZATION INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlFLORBusinessNameControlTxt
Phone9546033303PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line111421 NW 56TH DRIVEAddressLine1Txt
CityCORAL SPRINGSCityNm
State AbbreviationFLStateAbbreviationCd
ZIP33076ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonJOSE CERVANTESPersonNm
Person TitleDIRECTORPersonTitleTxt
Phone9546033303PhoneNum
Signature2025-03-06SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (1)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonOCTAVIO A VERDEJAPreparerPersonNm
PTINP00640853PTIN
Phone3054463177PhoneNum
Preparation2025-03-05PreparationDt
FieldValueIRS element (for citing)
Tax2023TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerJOSE CERVANTESPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line111421 NW 56TH DRIVEAddressLine1Txt
CityCORAL GABLESCityNm
State AbbreviationFLStateAbbreviationCd
ZIP33076ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$5,316,770GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressWWW.SUMMITACADEMY.ORGWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2018FormationYr
Legal Domicile StateFLLegalDomicileStateCd
Activity Or MissionTHE MISSION OF SUMMIT ACADEMY CHARTER SCHOOL IS TO OFFER A RIGOROUS AND HIGH QUALITY EDUCATION THAT FOCUSES ON "CLASS": CHARACTER, LEADERSHIP, ACADEMICS, SERVICE AND SPORTSMANSHIP.THE SCHOOL'S PHILOSOPHY IS THAT WITHOUT THESE COMPONENTS, STUDENTS ARE UNABLE TO ACHIEVE THEIR MAXIMUM LEARNING.ActivityOrMissionDesc
Voting Members Governing Body3VotingMembersGoverningBodyCnt
Voting Members Independent3VotingMembersIndependentCnt
Total Employee52TotalEmployeeCnt
Total Volunteers10TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$0PYContributionsGrantsAmt
CY Contributions Grants$0CYContributionsGrantsAmt
PY Program Service Revenue$4,072,457PYProgramServiceRevenueAmt
CY Program Service Revenue$5,316,770CYProgramServiceRevenueAmt
PY Investment Income$0PYInvestmentIncomeAmt
CY Investment Income$0CYInvestmentIncomeAmt
PY Other Revenue$0PYOtherRevenueAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$4,072,457PYTotalRevenueAmt
CY Total Revenue$5,316,770CYTotalRevenueAmt
PY Grants And Similar Paid$0PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$2,314,238PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$2,545,815CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$2,036,544PYOtherExpensesAmt
CY Other Expenses$2,605,580CYOtherExpensesAmt
PY Total Expenses$4,350,782PYTotalExpensesAmt
CY Total Expenses$5,151,395CYTotalExpensesAmt
PY Revenues Less Expenses-$278,325PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$165,375CYRevenuesLessExpensesAmt
Total Assets BOY$5,187,590TotalAssetsBOYAmt
Total Assets EOY$5,380,761TotalAssetsEOYAmt
Total Liabilities BOY$5,292,757TotalLiabilitiesBOYAmt
Total Liabilities EOY$5,320,553TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY-$105,167NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$60,208NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIIYes (X)InfoInScheduleOPartIIIInd
MissionTHE MISSION OF SUMMIT ACADEMY CHARTER SCHOOL IS TO OFFER A RIGOROUS AND HIGH QUALITY EDUCATION THAT FOCUSES ON "CLASS": CHARACTER, LEADERSHIP, ACADEMICS, SERVICE AND SPORTSMANSHIP.THE SCHOOL'S PHILOSOPHY IS THAT WITHOUT THESE COMPONENTS, STUDENTS ARE UNABLE TO ACHIEVE THEIR MAXIMUM LEARNING.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$3,588,946ExpenseAmt
DescIN 2024, SUMMIT ACADEMY CHARTER SCHOOL ACHIEVED SEVERAL SIGNIFICANT MILESTONES THAT REFLECT OUR UNWAVERING COMMITTMENT TO ACADEMIC EXCELLENCE AND STUDENT SUCCESS.15-YEAR CHARTER RENEWAL: OUR SCHOOLWAS AWARDED A 15=YEAR CHARTER RENEWAL, A TESTAMENT TO OUR STRONG ACADEMIC PERFORMANCE, SOUND GOVERNANCE, AND FINANCIAL STABILITY. THIS LONG-TERM RENEWAL ENSURES THAT WE CAN CONTINUE PROVIDING A HIGH-QUALITY EDUCATION FOR YEARS TO COME."A" SCHOOL RATING: SUMMIT ACADEMY ONCE AGAIN DEMONSTRATED OUTSTANDING STUDENT ACHIEVEMENT AND ACADEMIC GROWTH, EARNING AN "A" SCHOOL RATING FROM THE FLORIDA DEPARTMENT OF EDUCAATION. THIS RECOGNITION HIGHLIGHTS OUR DEDICATION TO FOSTERING A RIGOROUS AND ENGAGING LEARNING ENVIRONMENT.COGNIA ACCREDITATION: WE ARE PROUD TO ANNOUNCE THAT SUMMIT ACADEMY HAS BEEN OFFICIALLY ACCREDITED BY COGNIA, AFFIRMING OUR ADHERENCE TO HIGH STANDARDS OF EDUCATIONAL EXCELLENCE AND CONTINUOUS IMPROVEMENT. THIS ACCREDITATION REINFORCES OUR COMMITMENT TO DELIVERING A WORLD-CLASS EDUCATION TO OUR STUDENTS.THESE ACCOMPLISHMENTS REFLECT THE HARD WORK AND DEDICATION OF OUR STUDENTS, TEACHERS, STAFF, AND LEADERSHIP TEAM. WE REMAIN STEADFAST IN OUR MISSION TO EMPOWER STUDENTS WITH THE KNOWLEDGE, SKILLS, AND CHARACTER NECESSAY FOR LIFELONG SUCCESS.Desc
Total Program Service Expenses$3,588,946TotalProgramServiceExpensesAmt
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B Required0ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Lobbying Activities0LobbyingActivitiesInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentYes (1)ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other AssetsYes (1)ReportOtherAssetsInd
Report Other LiabilitiesYes (1)ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (1)IncludeFIN48FootnoteInd
Independent Audit Fincl StmtYes (1)IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School OperatingYes (1)SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J Required0ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related Entity0RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document4IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (1)BackupWthldComplianceInd
Employee52EmployeeCnt
Employment Tax Returns FiledYes (1)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members3GoverningBodyVotingMembersCnt
Independent Voting Member3IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or Stockholders0MembersOrStockholdersInd
Election Of Board Members0ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest Policy0ConflictOfInterestPolicyInd
Whistleblower Policy0WhistleblowerPolicyInd
Document Retention Policy0DocumentRetentionPolicyInd
Compensation Process CEO0CompensationProcessCEOInd
Compensation Process Other0CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
States Where Copy Of Return Is FldFLStatesWhereCopyOfReturnIsFldCd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1BUILDING HOPEBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone9546033303PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line111421 NW 56TH DRIVEAddressLine1Txt
CityCORAL SPRINGSCityNm
State AbbreviationFLStateAbbreviationCd
ZIP33076ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (4 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtHighest Compensated EmployeeHighestCompensatedEmployeeInd
REGLA ALVAREZ
DIRECTOR1.00Yes (X)$0$0$0
GEM VASQUEZ
DIRECTOR1.00Yes (X)$0$0$0
JOSE CERVANTES
DIRECTOR1.00Yes (X)$0$0$0
GUSTAVO PRATS
PRINCIPAL40.00$124,937$0$0Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$124,937TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$0TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K1IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K0TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (3 entries)

Address Line1ContractorAddress/USAddress/AddressLine1TxtCityContractorAddress/USAddress/CityNmState AbbreviationContractorAddress/USAddress/StateAbbreviationCdZIPContractorAddress/USAddress/ZIPCdServicesServicesDescCompensationCompensationAmt
CHARTER SCHOOL PARTNERS
11421 NW 56 DRCORAL SPRINGSFL33076EDUCATIONAL SERVICE PROVIDER$328,534
IPOWER TECHNOLOGIES
6111 BROKEN SOUND PARKWAY NW STE 1BOCA RATONFL33076IT PROVIDER$185,888
CHEBERE APPETITE
5371 NW 161ST STREETMIAMI GARDENSFL33014LUNCH CATERING$147,740
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K3CntrctRcvdGreaterThan100KCnt

Program Service Revenue ProgramServiceRevenueGrp (2 entries)

DescDescTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
GOVERNMENT AGENCIES$5,178,604$5,178,604
LUNCH WITH NSLP$138,166$138,166
FieldValueIRS element (for citing)
Total Program Service Revenue$5,316,770TotalProgramServiceRevenueAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$5,316,770TotalRevenueColumnAmt
Related Or Exempt Func Income$5,316,770RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$0ExclusionAmt
FieldValueIRS element (for citing)
Info In Schedule O Part IXYes (X)InfoInScheduleOPartIXInd

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$2,178,176TotalAmt
Program Services$1,978,686ProgramServicesAmt
Management And General$199,490ManagementAndGeneralAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$200,433TotalAmt
Program Services$184,398ProgramServicesAmt
Management And General$16,035ManagementAndGeneralAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$167,206TotalAmt
Program Services$151,945ProgramServicesAmt
Management And General$15,261ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$983,976TotalAmt
Program Services$156,720ProgramServicesAmt
Management And General$827,256ManagementAndGeneralAmt

Advertising AdvertisingGrp

FieldValueIRS element (for citing)
Total$18,265TotalAmt
Management And General$18,265ManagementAndGeneralAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$264,116TotalAmt
Program Services$216,119ProgramServicesAmt
Management And General$47,997ManagementAndGeneralAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$251,674TotalAmt
Management And General$251,674ManagementAndGeneralAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$642,342TotalAmt
Program Services$513,874ProgramServicesAmt
Management And General$128,468ManagementAndGeneralAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$101,043TotalAmt
Program Services$80,834ProgramServicesAmt
Management And General$20,209ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (3 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmtManagement And GeneralManagementAndGeneralAmt
FOODS$155,193$155,193
UTILITIES$100,221$80,177$20,044
REPAIRS AND MAINTENANCE$88,750$71,000$17,750

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$5,151,395TotalAmt
Program Services$3,588,946ProgramServicesAmt
Management And General$1,562,449ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$266,124BOYAmt
EOY$442,061EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
EOY$37,500EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$498,045LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$303,325LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$50,926BOYAmt
EOY$194,720EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$4,870,540BOYAmt
EOY$4,706,480EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$5,187,590BOYAmt
EOY$5,380,761EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$146,467BOYAmt
EOY$528,745EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$5,146,290BOYAmt
EOY$4,791,808EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$5,292,757BOYAmt
EOY$5,320,553EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY-$105,167BOYAmt
EOY$60,208EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY-$105,167BOYAmt
EOY$60,208EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$5,187,590BOYAmt
EOY$5,380,761EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$165,375ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS AuditedYes (1)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Separate Basis Fincl StmtYes (X)SeparateBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (1)AuditCommitteeInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
SchoolYes (X)SchoolInd

Schedule D IRS990ScheduleD

Leasehold Improvements LeaseholdImprovementsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$99,258OtherCostOrOtherBasisAmt
Depreciation$63,091DepreciationAmt
Book Value$36,167BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$398,787OtherCostOrOtherBasisAmt
Depreciation$240,234DepreciationAmt
Book Value$158,553BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$194,720TotalBookValueLandBuildingsAmt

Other Assets Org OtherAssetsOrgGrp (3 entries)

DescDescBook ValueBookValueAmt
DUE FROM OTHER AGENCIES$482,832
RIGHT OF USE ASSETS$4,113,648
SECURITY DEPOSITS$110,000
FieldValueIRS element (for citing)
Total Book Value Other Assets$4,706,480TotalBookValueOtherAssetsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp

FieldValueIRS element (for citing)
DescRIGHT OF USE LIABILITYDesc
Amt$4,791,808Amt
FieldValueIRS element (for citing)
Total Liability$4,791,808TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$5,316,770TotalRevEtcAuditedFinclStmtAmt
Revenue Not Reported$0RevenueNotReportedAmt
Revenue Subtotal$5,316,770RevenueSubtotalAmt
Revenue Not Reported Fincl Stmt$0RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$5,316,770TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$5,151,395TotExpnsEtcAuditedFinclStmtAmt
Expenses Not Reported$0ExpensesNotReportedAmt
Expenses Subtotal$5,151,395ExpensesSubtotalAmt
Expenses Not Rpt Fincl Stmt$0ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$5,151,395TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART X, LINE 2:FormAndLineReferenceDesc
ExplanationTHE 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 6/30/24, 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 2021.ExplanationTxt

Schedule E IRS990ScheduleE

FieldValueIRS element (for citing)
Nondiscriminatory Policy StmtYes (1)NondiscriminatoryPolicyStmtInd
Policy Stmt In Brochures EtcYes (1)PolicyStmtInBrochuresEtcInd
Plcy Pblczd Via Broadcast MediaYes (1)PlcyPblczdViaBroadcastMediaInd
Maintain Racial Comp RecsYes (1)MaintainRacialCompRecsInd
Maintain Scholarships RecsYes (1)MaintainScholarshipsRecsInd
Maintain Cpy Of Brochures EtcYes (1)MaintainCpyOfBrochuresEtcInd
Maintain Cpy Of All SolYes (1)MaintainCpyOfAllSolInd
Discriminate Race Stdnts Rghts0DiscriminateRaceStdntsRghtsInd
Discriminate Race Admiss Plcy0DiscriminateRaceAdmissPlcyInd
Discriminate Race Emplm Fculty0DiscriminateRaceEmplmFcultyInd
Discriminate Race Schs0DiscriminateRaceSchsInd
Discriminate Race Educ Plcy0DiscriminateRaceEducPlcyInd
Discriminate Race Use Of Fclts0DiscriminateRaceUseOfFcltsInd
Discriminate Race Athlt Prog0DiscriminateRaceAthltProgInd
Discriminate Race Other Acty0DiscriminateRaceOtherActyInd
Government Financial Aid Rcvd0GovernmentFinancialAidRcvdInd
Government Financial Aid Rvkd0GovernmentFinancialAidRvkdInd
Compliance With Rev Proc7550Yes (1)ComplianceWithRevProc7550Ind

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferenceSCHEDULE E, PART I, LINE 3FormAndLineReferenceDesc
ExplanationSUMMIT ACADEMY CHARTER SCHOOL ADMITS QUALIFIED STUDENTS, IRRESPECTIVE OF RACE, COLOR, RELIGION, SEX, NATIONAL ORIGIN, SEXUAL ORIENTATION OR DISABILITY. ALL STUDENTS ARE AFFORDED THE RIGHTS, PRIVILEGES, PROGRAMS AND ACTIVITIES GENERALLY ACCORDED OR MADE AVAILABLE TO SUMMIT ACADEMY STUDENTS. THE SCHOOL DOES NOT DISCRIMINATE ON THE BASIS OR RACE, COLOR, RELIGION, SEX, NATIONAL ORIGIN, SEXUAL ORIENTATION OR DISABILITY IN THE ADMINISTRATION OF ITS EDUCATIONAL PROGRAM, ADMISSION, FINANCIAL AID AND LOANS, ATHLETIC OR OTHER SCHOOL POLICIES.ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (3 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION B, LINE 11BTHE DIRECTORS WILL EXAMINE THIS RETURN, INCLUDING ACCOMPANYING SCHEDULES AND STATEMENTS PRIOR TO FILING THE RETURN.
FORM 990, PART VI, SECTION C, LINE 19THE GOVERNING DOCUMENTS ARE PROVIDED UPON REQUEST.
FORM 990, PART IX, LINE 11GPROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 156,720. MANAGEMENT AND GENERAL EXPENSES 827,256. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 983,976.

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