Richard Milburn Academy Of Florida Inc
- Assets
- $1.1m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 23
- Location
- Daytona Beach, FL
- Founding
- 05/2012
- Data as of
- 06/2021
- EIN
- 04-3513332
Organization Overview
Richard Milburn Academy Of Florida Inc is located in Daytona Beach, FL. The organization was established in 2012. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2021, Richard Milburn Academy Of Florida Inc employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Richard Milburn Academy Of Florida 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, Richard Milburn Academy Of Florida Inc generated $2.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $2.8m during the year ending 06/2021. While expenses have increased by 2.8% 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
RICHARD MILBURN ACADEMY OF FLORIDA, INC. OPERATES A PUBLIC HIGH SCHOOL THAT OFFER STUDENTS THE OPPORTUNITY TO GET BACK ON TRACK, IMPROVE GRADES, BE PROMOTED TO THE NEXT GRADE LEVEL, AND EARN THEIR DIPLOMA IN A NONTRADITIONAL LEARNING ENVIRONMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ACADEMY PROVIDES EDUCATIONAL SERVICES TO STUDENTS IN GRADES 9-12 WHO ARE AT RISK OF DROPPING OUT OF THE PUBLIC SCHOOL SYSTEM PRIOR TO GRADUATION. A TOTAL OF 370 STUDENTS WERE SERVED DURING THE FISCAL YEAR ENDING JUNE 30, 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cathy Egley Board Member | OfficerTrustee | 0.5 | $0 |
Edson Graham Chairman | OfficerTrustee | 0.5 | $0 |
Ashley Kelly Board Member | OfficerTrustee | 0.5 | $0 |
Sam Smith Board Member | OfficerTrustee | 0.5 | $0 |
Nichol Ward Board Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $76,965 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $76,965 |
| Total Program Service Revenue | $2,767,762 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,844,727 |
| 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 | $1,266,656 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $311,534 |
| Payroll taxes | $107,708 |
| Fees for services: Management | $81,689 |
| 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 | $0 |
| Advertising and promotion | $9,550 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $455,876 |
| Travel | $11,045 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,440 |
| Insurance | $38,046 |
| All other expenses | $26,429 |
| Total functional expenses | $2,764,087 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,094,254 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,664 |
| 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 | $0 |
| Net Land, buildings, and equipment | $10,420 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,226 |
| Total assets | $1,121,564 |
| Accounts payable and accrued expenses | $147,993 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| 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 | $0 |
| Total liabilities | $147,993 |
| Net assets without donor restrictions | $0 |
| 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 | $973,571 |
| Total liabilities and net assets/fund balances | $1,121,564 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Foundation For Osceola Education Inc Kissimmee, FL | $17,231,201 | $18,787,939 |
Lake Technical College Inc Eustis, FL | $17,510,446 | $18,253,168 |
Northstar Academies Inc Fort Lauderdale, FL | $8,255,029 | $17,151,740 |
Global Outreach Charter Academys Jacksonville, FL | $28,025,971 | $16,215,591 |
Coastal Plains Education Center Inc Metter, GA | $21,944,449 | $17,839,473 |
National Ben Gamla Charter Schoolfoundation Inc Miami, FL | $11,814,149 | $15,804,589 |
Lincoln Marti Charter Schools Inc Miami, FL | $12,862,040 | $15,316,634 |
Ridgeview Global Studies Academy Inc Davenport, FL | $23,553,699 | $16,444,024 |
Wesley International Academy Inc Atlanta, GA | $9,201,005 | $14,194,787 |
City Of Belle Isle Charter Schools Inc Miami, FL | $12,550,374 | $14,274,361 |
Sarasota Military Academy Inc Sarasota, FL | $22,680,421 | $14,952,313 |
Minneola Charter Schools Inc Minneola, FL | $14,329,481 | $14,463,653 |