Learning Excellence Foundation Of South Palm Beach Inc
- Assets
- $22.1m
- Revenue
- $11.1m
- Investments
- $0.0
- Employees
- 108
- Location
- Boynton Beach, FL
- Founding
- 01/2009
- Data as of
- 06/2022
- EIN
- 65-1125973
Organization Overview
Learning Excellence Foundation Of South Palm Beach Inc, operating under the name Imagine Schools - Chancellor Campus, is located in Boynton Beach, FL. The organization was established in 2009. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2022, Imagine Schools - Chancellor Campus employed 108 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Imagine Schools - Chancellor Campus 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, Imagine Schools - Chancellor Campus generated $11.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $11.0m during the year ending 06/2022. While expenses have increased by 5.3% 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
TO OPERATE A NOT-FOR-PROFIT CHARTER SCHOOL AND TO CONDUCT EDUCATIONAL DEVELOPMENT ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE OUTSTANDING EDUCATIONAL SERVICES TO PALM BEACH COUNTY, FLORIDA AS A CHARTER SCHOOL. SERVE APPROXIMATELY 1025 STUDENTS IN GRADES K-8.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris Johnson Chair | OfficerTrustee | 1 | $0 |
Tom Sutterfield Vice Chair | OfficerTrustee | 1 | $0 |
Elizabeth Stephan Secretary | OfficerTrustee | 1 | $0 |
Marie Chapman Treasurer | OfficerTrustee | 2 | $0 |
Jennifer Weser Director | Trustee | 1 | $0 |
Marva Wilks Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Imagine Schools Inc Management Services | 6/29/20 | $721,574 |
Boca Speech Center Speech Therapy | 6/29/20 | $141,570 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $53,800 |
| Related organizations | $0 |
| Government grants | $10,338,423 |
| 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 | $10,392,223 |
| Total Program Service Revenue | $349,896 |
| 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 | -$39,819 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,061,403 |
| 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 | $4,447,854 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,024,723 |
| Payroll taxes | $321,037 |
| Fees for services: Management | $738,397 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $41,786 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $152,822 |
| Advertising and promotion | $2,554 |
| Office expenses | $29,282 |
| Information technology | $38,640 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,097 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $814,698 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,508,740 |
| Insurance | $145,581 |
| All other expenses | $204,272 |
| Total functional expenses | $11,040,411 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $626,649 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,710 |
| 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 | $480,129 |
| Net Land, buildings, and equipment | $20,224,156 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $754,778 |
| Total assets | $22,098,422 |
| Accounts payable and accrued expenses | $685,106 |
| Grants payable | $0 |
| Deferred revenue | $57,915 |
| 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 | $19,177,625 |
| Total liabilities | $19,920,646 |
| 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 | $1,046,531 |
| Retained earnings, endowment, accumulated income, or other funds | $1,131,245 |
| Total liabilities and net assets/fund balances | $22,098,422 |