Idea Florida Inc
- Assets
- $10.7m
- Revenue
- $28.5m
- Investments
- $0.0
- Employees
- 5
- Location
- Tampa, FL
- Founding
- Data as of
- 06/2022
- EIN
- 84-3519271
Organization Overview
Idea Florida Inc is located in Tampa, 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, Idea Florida Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Idea Florida 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, Idea Florida Inc generated $28.5m in total revenue. All expenses for the organization totaled $29.5m during the year ending 06/2022. While expenses have increased by 205.1% per year over the past 3 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
IDEA FLORIDA PROVIDES TUITION-FREE EDUCATION TO COLLEGE-BOUND STUDENTS IN FLORIDA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE OIDEA PUBLIC SCHOOLS BELIEVES EACH AND EVERY CHILD CAN GO TO COLLEGE. SINCE 2000, IDEA PUBLIC SCHOOLS HAS GROWN FROM A SMALL SCHOOL WITH 150 STUDENTS TO A NATIONAL NETWORK OF TUITION-FREE K-12 PUBLIC CHARTER SCHOOLS IN THE UNITED STATES. THE NETWORK CURRENTLY SERVES OVER 80,000 COLLEGE-BOUND STUDENTS IN 143 SCHOOLS. THROUGH SMALL LEARNING GROUPS AND DAILY ACCESS TO TECHNOLOGY, EVERY STUDENT LEARNS AT THE LEVEL AND SPEED JUST RIGHT FOR THEM. TEACHERS BRING SUBJECT MATTER EXPERTISE AND AN UNWAVERING COMMITMENT TO SET EACH STUDENT ON A PATH TO SUCCESS. PARENTS, TEACHERS, AND ADMINISTRATORS WORK AS A TEAM TO HELP EACH STUDENT REACH THEIR FULL POTENTIAL.FOR THE 2021-2022 ACADEMIC YEAR, IDEA FLORIDA SERVED 882 STUDENTS ACROSS TWO CAMPUSES IN THE TAMPA BAY AREA. THE SCHOOLS OPENED WITH GRADES K-2 & 6 AND WILL GROW TO SERVE GRADES K-12 WHEN FULLY SCALED. IDEA FLORIDA OPENED TWO ADDITIONAL SCHOOLS IN THE JACKSONVILLE AREA FOR THE 2022-2023 ACADEMIC YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lizzette Reynolds Chair | OfficerTrustee | 5 | $0 |
Nick Rhodes Secretary | OfficerTrustee | 2 | $0 |
Christina Barker Director | Trustee | 1 | $0 |
Gary Chartrand Director | Trustee | 1 | $0 |
Julene Robinson Executive Director - Tampa Bay | Officer | 40 | $0 |
Adam Miller Executive Director - Tampa Bay | Officer | 40 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ips Enterprises Inc Management Services | 6/29/22 | $11,249,585 |
G3 Life Applications Inc After School Care Programs | 6/29/22 | $321,964 |
Relay Graduate School Of Education Leadership Training | 6/29/22 | $107,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $28,009,514 |
| All other contributions, gifts, grants, and similar amounts not included above | $540,297 |
| Noncash contributions included in lines 1a–1f | $2,136 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $28,549,811 |
| 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 | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $28,549,811 |
| 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. | $619,405 |
| Compensation of current officers, directors, key employees. | $83,716 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,671,150 |
| Pension plan accruals and contributions | $482,773 |
| Other employee benefits | $2,146,296 |
| Payroll taxes | $823,674 |
| Fees for services: Management | $320,698 |
| Fees for services: Legal | $86,693 |
| Fees for services: Accounting | $2,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,924,261 |
| Advertising and promotion | $1,337,018 |
| Office expenses | $2,184,305 |
| Information technology | $362,154 |
| Royalties | $0 |
| Occupancy | $2,555,474 |
| Travel | $816,114 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $60,900 |
| Interest | $24,000 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $304,619 |
| Insurance | $358,938 |
| All other expenses | $8,814 |
| Total functional expenses | $29,470,141 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $581,126 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $684,082 |
| Accounts receivable, net | $0 |
| 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 | $81,468 |
| Net Land, buildings, and equipment | $3,311,543 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,053,322 |
| Total assets | $10,711,541 |
| Accounts payable and accrued expenses | $1,794,125 |
| Grants payable | $0 |
| Deferred revenue | $1,488,000 |
| 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 | $1,200,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,113,421 |
| Total liabilities | $10,595,546 |
| Net assets without donor restrictions | -$903,418 |
| Net assets with donor restrictions | $1,019,413 |
| 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 | $10,711,541 |