Phoenix Education Network Inc
- Assets
- $24.2m
- Revenue
- $10.4m
- Investments
- $0.0
- Employees
- 112
- Location
- Naples, FL
- Founding
- Data as of
- 06/2022
- EIN
- 84-2776904
Organization Overview
Phoenix Education Network Inc, operating under the name Naples Classical Academy, is located in Naples, FL. 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, Naples Classical Academy employed 112 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Naples Classical Academy 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, Naples Classical Academy generated $10.4m in total revenue. All expenses for the organization totaled $11.6m during the year ending 06/2022. While expenses have increased by 288.8% per year over the past 2 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 TRAIN THE MINDS AND IMPROVE THE HEARTS OF YOUNG PEOPLE THROUGH A CONTENT-RICH CLASSICAL EDUCATION IN THE LIBERAL ARTS AND SCIENCES, WITH INSTRUCTION IN THE PRINCIPLES OF MORAL CHARACTER AND CIVIC VIRTUE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO TRAIN THE MINDS AND IMPROVE THE HEARTS OF YOUNG PEOPLE THROUGH A CONTENT-RICH CLASSICAL EDUCATION IN THE LIBERAL ARTS AND SCIENCES, WITH INSTRUCTION IN THE PRINCIPLES OF MORAL CHARACTER AND CIVIC VIRTUE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew Mathias Chairman | Trustee | 1 | $0 |
Derrick Ayers Vice-Chairman | Trustee | 1 | $0 |
Holly Raass Miller Secretary | Trustee | 1 | $0 |
Timothy Hall Treasurer | Trustee | 1 | $0 |
William Truog Director | Trustee | 1 | $0 |
Mark Russo Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Optima Foundation Inc Management Services | 6/29/22 | $757,773 |
Educators Solutions Inc Payroll Services | 6/29/22 | $504,225 |
Lintons Food Service Managment Food Services | 6/29/22 | $164,532 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $125,155 |
| Related organizations | $0 |
| Government grants | $10,141,020 |
| All other contributions, gifts, grants, and similar amounts not included above | $111,776 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,377,951 |
| Total Program Service Revenue | $117,819 |
| Investment income | $1,039 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,750 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$52,503 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,447,056 |
| 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 | $4,467,344 |
| Pension plan accruals and contributions | $152,034 |
| Other employee benefits | $435,250 |
| Payroll taxes | $0 |
| Fees for services: Management | $1,243,998 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,899 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,660,959 |
| Advertising and promotion | $218 |
| Office expenses | $745,493 |
| Information technology | $60,042 |
| Royalties | $0 |
| Occupancy | $350,313 |
| Travel | $11,722 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,645,965 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $511,366 |
| Insurance | $135,349 |
| All other expenses | $147,950 |
| Total functional expenses | $11,571,902 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,455,738 |
| Savings and temporary cash investments | $837,412 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $396,417 |
| 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 | $19,874,176 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,656,391 |
| Total assets | $24,220,134 |
| Accounts payable and accrued expenses | $1,414,477 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $23,150,000 |
| 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 | $600,000 |
| Other liabilities | $1,530,000 |
| Total liabilities | $26,694,477 |
| Net assets without donor restrictions | -$2,474,343 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $24,220,134 |