Southwest Charter Foundation Inc
- Assets
- $116.5m
- Revenue
- $61.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Fort Lauderdale, FL
- Founding
- 11/2004
- Data as of
- 06/2021
- EIN
- 01-0561262
Organization Overview
Southwest Charter Foundation Inc is located in Fort Lauderdale, FL. The organization was established in 2004. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southwest Charter Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Southwest Charter Foundation Inc generated $61.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $60.3m during the year ending 06/2021. While expenses have increased by 1.7% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION OPERATES SIX CHARTER SCHOOLS IN LEE COUNTY FLORIDA AND ONE CHARTER SCHOOL IN MANATEE COUNTY FLORIDA. THE SCHOOLS WILL PROVIDE STUDENTS, PRE-KINDERGARTEN THROUGH TWELFTH GRADE, WITH THE NECESSARY TOOLS AND SKILLS NEEDED TO DEVELOP SUPERIOR LEVELS OF ACHIEVEMENT. THEY WILL STRIVE FOR ACADEMIC, SOCIAL AND PHYSICAL EXCELLENCE BY PROVIDING A HIGH QUALITY, CHALLENGING CURRICULUM. THEY WILL PROMOTE POSITIVE MORAL AND SOCIAL VALUES, FOSTER AN ATMOSPHERE OF SELF-DISCIPLINE IN A SAFE LEARNING ENVIRONMENT AND MAXIMIZE INDIVIDUAL PRODUCTIVITY TO MEET THE NEEDS OF A CHANGING GLOBAL SOCIETY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BONITA SPRINGS CHARTER SCHOOL: PROVIDE QUALITY EDUCATION TO KINDERGARTEN THROUGH EIGHTH (K-8) GRADE.
SIX MILE CHARTER ACADEMY: PROVIDE THE HIGHEST QUALITY EDUCATION FROM PRE-KINDERGARTEN THROUGH EIGHTH (K-8) GRADE.
GATEWAY CHARTER SCHOOL: PROVIDE THE HIGHEST QUALITY EDUCATION FROM KINDERGARTEN THROUGH EIGHTH (K-8) GRADE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth J Haiko Chairman | OfficerTrustee | 2 | $0 |
John O'brien Vice Chairman | OfficerTrustee | 1 | $0 |
Thomas P Wheeler Treasurer | OfficerTrustee | 1 | $0 |
Dennis P Clark Stcretary | OfficerTrustee | 1 | $0 |
Pat Smith Director | Trustee | 1 | $0 |
Billie Miller Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Progressus Therapy Llc Therapy Professional | 6/29/21 | $519,537 |
10jin Llc Professional Services | 6/29/21 | $418,198 |
Abc Mechanical Llc Facilities Management | 6/29/21 | $326,380 |
Curriculum Associates Llc Education Services | 6/29/21 | $181,807 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,614,328 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,246,543 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,860,871 |
| Total Program Service Revenue | $56,884,621 |
| Investment income | $116,202 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$65,209 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $61,802,178 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $22,782,332 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,105,805 |
| Payroll taxes | $1,708,648 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,959,296 |
| Advertising and promotion | $290,937 |
| Office expenses | $162,898 |
| Information technology | $391,108 |
| Royalties | $0 |
| Occupancy | $483,255 |
| Travel | $40,073 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,073,517 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,637,420 |
| Insurance | $668,798 |
| All other expenses | $3,297,709 |
| Total functional expenses | $60,349,912 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,246,519 |
| Savings and temporary cash investments | $261,029 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,233 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $208,018 |
| Net Land, buildings, and equipment | $93,978,571 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,790,241 |
| Total assets | $116,504,611 |
| Accounts payable and accrued expenses | $3,814,159 |
| Grants payable | $0 |
| Deferred revenue | $18,641 |
| Tax-exempt bond liabilities | $118,381,728 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,401,328 |
| Total liabilities | $128,615,856 |
| Net assets without donor restrictions | -$12,111,245 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $116,504,611 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Southwest Charter Foundation Inc has recieved totaling $5,900.
| Awarding Organization | Amount |
|---|---|
West Bay Community Charitable Foundation Inc Estero, FL PURPOSE: FUNDING FOR STUDENT PROGRAM TO ENGAGE STUDENTS TO CREATE POSITIVE AND SUPPORTIVE CAMPUS CULTURE | $5,900 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pinecrest Academy Inc Miami, FL | $196,713,238 | $104,129,218 |
Southwest Charter Foundation Inc Fort Lauderdale, FL | $116,504,611 | $61,802,178 |
Advantage Academy Of Hillsborough Inc Coral Springs, FL | $185,732,767 | $61,697,931 |
Doral Academy Inc Miami, FL | $78,216,564 | $49,667,670 |
Lake Wales Charter Schools Lake Wales, FL | $35,506,108 | $45,984,784 |
Drew Charter School Inc Atlanta, GA | $34,692,137 | $41,952,542 |
River City Education Services Jacksonville, FL | $97,321,758 | $40,759,077 |
Georgia Connections Academy Charter School Inc Duluth, GA | $22,514,475 | $38,349,918 |
Mater Academy Central Inc Kissimmee, FL | $56,599,415 | $27,041,064 |
Kindezi School Inc Atlanta, GA | $19,750,427 | $21,363,051 |
Discovery Education Services Inc Orlando, FL | $22,168,948 | $29,305,548 |
Floridians For Quality Virtual Education Inc Tampa, FL | $7,270,958 | $27,629,122 |