South Tech Charter Academy Inc
- Assets
- $29.5m
- Revenue
- $14.9m
- Investments
- $0.0
- Employees
- 130
- Location
- Boynton Beach, FL
- Founding
- 04/2004
- Data as of
- 06/2023
- EIN
- 32-0089102
Organization Overview
South Tech Charter Academy Inc is located in Boynton Beach, 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. As of 06/2023, South Tech Charter Academy Inc employed 130 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. South Tech Charter Academy 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 06/2023, South Tech Charter Academy Inc generated $14.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $12.2m during the year ending 06/2023. While expenses have increased by 3.4% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE CHARTER SCHOOL'S CORE MISSION IS TO GRADUATE STUDENTS PREPARED FOR WORK, HIGHER EDUCATION, AND PRODUCTIVE CITIZENSHIP. RIGOROUS AND RELEVANT INSTRUCTION, MEETING INDIVIDUAL CAREER GOALS AND ENABLING STUDENTS TO BE SUCCESSFUL IN A DIVERSE AND CHANGING WORKFORCE IS USED TO ACHIEVE THIS END. THE EFFORTS OF A HIGHLY SKILLED AND DEDICATED STAFF IN AN ENVIRONMENT UNIQUELY SUITED TO STUDENT SUCCESS HAS PRODUCED AN "A" SCHOOL GRADE AND A 96 PERCENT GRADUATION RATE. STAFF INSTILLS IN STUDENTS A LOVE FOR LEARNING AND AWARENESS OF THE NEED FOR LIFE-LONG LEARNING TO REMAIN ABREAST OF WORKPLACE TECHNOLOGY AS PART OF THE TOTAL EDUCATIONAL PROCESS. THE COMMUNITY ENJOYS THE INATE BENEFITS AFFORDED BY CHARTER SCHOOL AS IT PRODUCES THE AVAILABILITY OF A HIGHLY SKILLED ENTRY-LEVEL WORKFORCE AS WELL AS PROVIDING ONGOING ADULT TRAINING TO MAINTAIN SKILLS CONCURRENT WITH INDUSTRY DEMANDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CHARTER SCHOOL'S MISSION IS TO PROVIDE EACH STUDENT WITH RIGOROUS AND RELEVANT INSTRUCTION, MEETING INDIVIDUAL CAREER GOALS, ENABLING STUDENTS TO BE SUCCESSFUL IN A DIVERSE AND CHANGING WORKFORCE, AND BENEFITING THE COMMUNITY THROUGH THE EFFORTS OF A HIGHLY SKILLED AND DEDICATED STAFF IN AN ENVIRONMENT UNIQUELY SUITED TO STUDENT SUCCESS THE SCHOOL SERVED 1,123 STUDENTS DURING THE FISCAL YEAR ENDED JUNE 30, 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Russell Feldman Board Chair | OfficerTrustee | 1 | $0 |
Suzanne Nicolini Vice Chairperson | OfficerTrustee | 1 | $0 |
Ayesha Edmond Secretary | OfficerTrustee | 1 | $0 |
Dan Heller Treasurer | OfficerTrustee | 1 | $0 |
James Notter Director | Trustee | 1 | $0 |
Roger Dunson Sr Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Matthews Bus Alliance Inc Bus Services | 6/29/23 | $700,639 |
Mac Express Cleaning Service Facility Cleaning Service | 6/29/23 | $273,021 |
Florida School Book Depository Instructional Materials | 6/29/23 | $124,485 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,536,801 |
| 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 | $2,536,801 |
| Total Program Service Revenue | $11,575,681 |
| Investment income | $500,244 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $248,250 |
| 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 | $14,885,976 |
| 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. | $284,600 |
| Compensation of current officers, directors, key employees. | $28,460 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,215,303 |
| Pension plan accruals and contributions | $691,078 |
| Other employee benefits | $715,771 |
| Payroll taxes | $465,664 |
| 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 | $351,051 |
| Advertising and promotion | $35,070 |
| Office expenses | $14,561 |
| Information technology | $49,669 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $91,686 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $604,690 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $133,278 |
| Insurance | $247,234 |
| All other expenses | $244,839 |
| Total functional expenses | $12,162,265 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,255,500 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,534,615 |
| 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 | $476,394 |
| Net Land, buildings, and equipment | $10,037,374 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,158,265 |
| Total assets | $29,462,148 |
| Accounts payable and accrued expenses | $735,797 |
| Grants payable | $0 |
| Deferred revenue | $44,534 |
| Tax-exempt bond liabilities | $10,936,639 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $61,347 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,813,422 |
| Total liabilities | $22,591,739 |
| 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 | $6,870,409 |
| Total liabilities and net assets/fund balances | $29,462,148 |