Kipp Miami Inc
- Assets
- $28.2m
- Revenue
- $22.9m
- Investments
- $0.0
- Employees
- 168
- Location
- Miami, FL
- Founding
- 09/2018
- Data as of
- 06/2022
- EIN
- 81-4473475
Organization Overview
Kipp Miami Inc is located in Miami, FL. The organization was established in 2018. 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, Kipp Miami Inc employed 168 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kipp Miami 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 06/2022, Kipp Miami Inc generated $22.9m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 59.4% each year . All expenses for the organization totaled $22.6m during the year ending 06/2022. While expenses have increased by 63.7% per year over the past 4 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
KIPP MIAMI PUBLIC SCHOOLS SEEK TO CREATE AND SUSTAIN HIGH ACHIEVING AND INSPIRING COMMUNITY SCHOOLS THAT BATTLE INEQUITY BY EMPOWERING STUDENTS TO DEVELOP THE KNOWLEDGE, SKILLS, CHARACTER STRENGTHS, AND HABITS TO THRIVE IN COLLEGE AND BEYOND, SHAPE THEIR FUTURES, AND POSITIVELY IMPACT THE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
KIPP MIAMI OFFERS A NEW MODEL AND EDUCATION ALTERNATIVE FOR FAMILIES AND STUDENTS IN OUR COMMUNITY. KIPP MIAMI, INC. OPENED THEIR FOUNDING SCHOOL KIPP SUNRISE ACADEMY EFFECTIVE JULY 1, 2018. SINCE THAT TIME, KIPP MIAMI HAS GROWN TO INCLUDE 4 SCHOOLS. WITH KIPP MIAMI'S GROWTH, THEY ARE NOW SERVING NEARLY 1,000 STUDENTS IN TOTAL BETWEEN ELEMENTARY AND MIDDLE SCHOOL IN SOME OF THE COMMUNITIES' MOST UNDERSERVED AREAS, AND THOSE STUDENTS ARE RECEIVING THAT OPPORTUNITY WITH AN EDUCATIONAL ALTERNATIVE THAT IS COMMITTEDTO SEEING THEM SUCCEED TO AND THROUGH COLLEGE. TO FURTHER KIPP MIAMI'S MISSION TO BEST SERVE THEIR STUDENTS, A BRAND NEW SCHOOL BUILDING WAS BUILT THAT WILL SERVE AS THE HOME FOR ALL 4 SCHOOLS FOR THE 2022-23 SCHOOL YEAR AND BEYOND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bill Diggs Chairman | OfficerTrustee | 1 | $0 |
Dan Adan Director | Trustee | 1 | $0 |
Jeb Bush Jr Director | Trustee | 1 | $0 |
Deborah Dauman Director | Trustee | 1 | $0 |
Billy Krauss Director | Trustee | 1 | $0 |
Larry Quinlan Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The School Board Of Miami-dade County F Management Services | 6/29/19 | $132,702 |
Kipp New Jersey Educational Services | 6/29/19 | $795,730 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $57,050 |
| Related organizations | $0 |
| Government grants | $18,893,224 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,977,262 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $22,927,536 |
| Total Program Service Revenue | $0 |
| 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 | $825 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $22,928,361 |
| 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 | $9,602,541 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,804,285 |
| Payroll taxes | $692,653 |
| 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 | $2,881,786 |
| Advertising and promotion | $0 |
| Office expenses | $4,338,662 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,177,181 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $59,024 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $88,047 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $22,644,179 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,162,085 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,048,866 |
| Accounts receivable, net | $1,782,546 |
| 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 | $44,959 |
| Net Land, buildings, and equipment | $11,531,097 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $4,714,492 |
| Other assets | $896,357 |
| Total assets | $28,180,402 |
| Accounts payable and accrued expenses | $1,952,676 |
| Grants payable | $0 |
| Deferred revenue | $12,121 |
| 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 | $19,409,268 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $21,374,065 |
| Net assets without donor restrictions | $5,633,154 |
| Net assets with donor restrictions | $1,173,183 |
| 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 | $28,180,402 |