Southwest Charter Foundation Inc
- Assets
- $116.6m
- Revenue
- $67.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Fort Lauderdale, FL
- Founding
- 11/2004
- Data as of
- 06/2022
- 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 06/2022, Southwest Charter Foundation Inc generated $67.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $65.5m during the year ending 06/2022. While expenses have increased by 2.7% per year over the past 7 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
2022
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 |
Dennis P Clark Stcretary | OfficerTrustee | 1 | $0 |
Thomas P Wheeler Treasurer | OfficerTrustee | 1 | $0 |
Billie Miller Director | Trustee | 1 | $0 |
Pat Smith Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
10jin Llc Database | 6/29/22 | $501,816 |
Savvas Learning Co Llc Education Services | 6/29/22 | $261,723 |
Curriculum Associates Llc Education Services | 6/29/22 | $159,432 |
Progressus Therapy Llc Therapy Professional Service | 6/29/22 | $522,567 |
Abc Mechanical Llc Facilities Management | 6/29/22 | $1,300,771 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $7,206,432 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,825,264 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,031,696 |
| Total Program Service Revenue | $57,887,527 |
| Investment income | $88,381 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$55,264 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $66,987,568 |
| 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 | $25,145,873 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,746,397 |
| Payroll taxes | $2,032,129 |
| 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 | $8,066,168 |
| Advertising and promotion | $361,185 |
| Office expenses | $221,987 |
| Information technology | $527,176 |
| Royalties | $0 |
| Occupancy | $237,459 |
| Travel | $54,677 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $6,823,641 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,011,275 |
| Insurance | $686,185 |
| All other expenses | $2,402,025 |
| Total functional expenses | $65,470,566 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,308,080 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $54,375 |
| 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 | $303,890 |
| Net Land, buildings, and equipment | $95,668,268 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,267,926 |
| Total assets | $116,602,539 |
| Accounts payable and accrued expenses | $2,927,981 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $115,066,492 |
| 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 | $9,318,184 |
| Total liabilities | $127,312,657 |
| Net assets without donor restrictions | -$10,710,118 |
| 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 | $116,602,539 |