Okaloosa Academy Incorporated
- Assets
- $2.2m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 59
- Location
- Miramar Beach, FL
- Founding
- 12/1997
- Data as of
- 06/2022
- EIN
- 59-3401752
Organization Overview
Okaloosa Academy Incorporated is located in Miramar Beach, FL. The organization was established in 1997. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 06/2022, Okaloosa Academy Incorporated employed 59 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Okaloosa Academy Incorporated 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, Okaloosa Academy Incorporated generated $3.5m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.2%) each year. All expenses for the organization totaled $3.4m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (2.5%) per year over the past 7 years. 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
TO PROVIDE EDUCATIONAL SERVICES TO STUDENTS IN GRADES 6-12
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE EDUCATIONAL SERVICES TO STUDENTS IN GRADES 6-12
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gregory Seaton Board Chair | OfficerTrustee | $0 | |
Angelo Pearson Secretary/tr | OfficerTrustee | $0 | |
Ann Black Board Member | Trustee | $0 | |
Jimmy James Board Member | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,822,161 |
| All other contributions, gifts, grants, and similar amounts not included above | $110,682 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,932,843 |
| Total Program Service Revenue | $9,493 |
| Investment income | $529 |
| 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 | $3,514,993 |
| 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 | $1,551,680 |
| Pension plan accruals and contributions | $5,045 |
| Other employee benefits | $164,954 |
| Payroll taxes | $109,915 |
| Fees for services: Management | $429,288 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,785 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $256,331 |
| Advertising and promotion | $0 |
| Office expenses | $41,197 |
| Information technology | $116,050 |
| Royalties | $0 |
| Occupancy | $169,108 |
| Travel | $6,335 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $456 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $247,536 |
| Insurance | $74,426 |
| All other expenses | $62,377 |
| Total functional expenses | $3,448,137 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,273,231 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $57,819 |
| 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 | $53,954 |
| Net Land, buildings, and equipment | $759,049 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,415 |
| Total assets | $2,155,468 |
| Accounts payable and accrued expenses | $7,851 |
| 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 | $11,415 |
| Total liabilities | $19,266 |
| Net assets without donor restrictions | $1,081,893 |
| Net assets with donor restrictions | $1,054,309 |
| 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 | $2,155,468 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Admiral Farragut Academy Inc St Petersburg, FL | $21,987,210 | $17,628,245 |
The Pepin Academies Inc Riverview, FL | $29,193,079 | $15,292,981 |
Oak Hall Private School Gainesville, FL | $28,822,361 | $15,634,041 |
Atlanta Jewish Academy Inc Atlanta, GA | $22,350,554 | $15,415,216 |
The Felicia Penzell Weber Jewish Community High School Inc Atlanta, GA | $43,433,763 | $21,423,275 |
Torah Academy Of Boca Raton Inc Boca Raton, FL | $6,046,779 | $10,224,261 |
Katz Yeshiva High School Of South Florida Inc Boca Raton, FL | $18,491,593 | $8,621,802 |
Ivy Preparatory Academy Incorporated Atlanta, GA | $13,093,434 | $7,743,445 |
Loganville Christian Academy Inc Loganville, GA | $11,454,751 | $7,322,171 |
Florida High School Athletic Association Inc Gainesville, FL | $7,136,528 | $6,568,793 |
Oglethorpe Charter School Inc Savannah, GA | $6,663,561 | $6,904,086 |
Georgia High School Association Thomaston, GA | $8,760,324 | $5,170,653 |