Ips Enterprises Inc
- Assets
- $202.8m
- Revenue
- $79.1m
- Investments
- $0.0
- Employees
- 997
- Location
- Weslaco, TX
- Founding
- Data as of
- 06/2022
- EIN
- 84-4633153
Organization Overview
Ips Enterprises Inc is located in Weslaco, TX. According to its NTEE Classification (B19) the organization is classified as: Support N.E.C., under the broad grouping of Education and related organizations. As of 06/2022, Ips Enterprises Inc employed 997 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ips Enterprises 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, Ips Enterprises Inc generated $79.1m in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 62.5% each year . All expenses for the organization totaled $74.3m during the year ending 06/2022. While expenses have increased by 58.3% 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
IPS ENTERPRISES PROVIDES PUBLIC CHARTER SCHOOL MANAGEMENT SERVICES TO IDEA MANAGED ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Collin Sewell Chair | OfficerTrustee | 3 | $0 |
Ed Rivera Treasurer | OfficerTrustee | 3 | $0 |
Anthony Ryan Vaughan Secretary | OfficerTrustee | 1 | $0 |
Michael Adams Board Member | Trustee | 1 | $0 |
David Earl Board Member | Trustee | 1 | $0 |
Xenia Garza Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Summit Construction Management Group Llc Construction | 6/29/22 | $14,674,042 |
Buquet And Leblanc Inc Construction | 6/29/22 | $10,685,711 |
Certified General Contrs Inc Construction | 6/29/22 | $9,932,779 |
Faulk And Meek General Contractors Inc Construction | 6/29/22 | $5,351,629 |
Rowe Architects Incorporated Architecture | 6/29/22 | $2,080,985 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $18,568,136 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,210,365 |
| Noncash contributions included in lines 1a–1f | $30,343 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $25,778,501 |
| Total Program Service Revenue | $53,353,314 |
| Investment income | $85 |
| 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 | $79,131,900 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,680,508 |
| 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. | $1,215,555 |
| Compensation of current officers, directors, key employees. | $155,351 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $35,933,341 |
| Pension plan accruals and contributions | $1,371,780 |
| Other employee benefits | $4,899,976 |
| Payroll taxes | $2,803,748 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $158,155 |
| Fees for services: Accounting | $16,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,051,954 |
| Advertising and promotion | $0 |
| Office expenses | $11,473,116 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $467,212 |
| Travel | $26,461 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,149,374 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,927,073 |
| Insurance | $92,186 |
| All other expenses | $0 |
| Total functional expenses | $74,266,439 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,250,706 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $6,466,386 |
| Accounts receivable, net | $15,863,852 |
| 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 | $343,761 |
| Net Land, buildings, and equipment | $152,818,973 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $960,999 |
| Other assets | $23,106,737 |
| Total assets | $202,811,414 |
| Accounts payable and accrued expenses | $47,399,642 |
| 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 | $143,713,947 |
| Unsecured mortgages and notes payable | $3,100,000 |
| Other liabilities | $6,126,986 |
| Total liabilities | $200,340,575 |
| Net assets without donor restrictions | -$4,388,577 |
| Net assets with donor restrictions | $6,859,416 |
| 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 | $202,811,414 |
Grants Awarded
Over the last fiscal year, Ips Enterprises Inc has awarded $6,680,508 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
IDEA GREATER CINCINNATI INC PURPOSE: Campus construction | $6,330,354 |
IDEA PUBLIC SCHOOLS ARKANSAS INC PURPOSE: Region evaluation and preparation | $350,154 |