Okaloosa Academy Incorporated
- Assets
- $2.3m
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 59
- Location
- Miramar Beach, FL
- Founding
- 12/1997
- Data as of
- 06/2023
- 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 06/2023, 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 06/2023, Okaloosa Academy Incorporated generated $3.4m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $3.3m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (2.7%) per year over the past 8 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
2023
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 |
|---|---|---|---|
Ann Black Secretary | Trustee | $0 | |
Jimmy James Treasurer | Trustee | $0 | |
Angelo Pearson Vice Chairpe | OfficerTrustee | $0 | |
Dr Gregory Seaton Chairperson | OfficerTrustee | $0 | |
Vickie Sykes Board Member | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,176,221 |
| 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 | $3,176,221 |
| Total Program Service Revenue | $13,213 |
| Investment income | $556 |
| 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 | $3,394,271 |
| 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 | $1,591,080 |
| Pension plan accruals and contributions | $500 |
| Other employee benefits | $15,298 |
| Payroll taxes | $125,430 |
| Fees for services: Management | $299,340 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,428 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $164,749 |
| Advertising and promotion | $0 |
| Office expenses | $149,087 |
| Information technology | $26,750 |
| Royalties | $0 |
| Occupancy | $244,363 |
| Travel | $9,111 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $295 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $263,874 |
| Insurance | $247,158 |
| All other expenses | $0 |
| Total functional expenses | $3,286,838 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,389,042 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $112,008 |
| 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 | $770,405 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,310 |
| Total assets | $2,277,765 |
| Accounts payable and accrued expenses | $27,820 |
| 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 | $6,310 |
| Total liabilities | $34,130 |
| Net assets without donor restrictions | $1,186,719 |
| Net assets with donor restrictions | $1,056,916 |
| 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 | $2,277,765 |