IPS Enterprises Inc
- Assets
- $110.5m
- Revenue
- $30.0m
- Investments
- $0.0
- Employees
- 449
- Location
- Weslaco, TX
- Founding
- Data as of
- 06/2021
- EIN
- 84-4633153
Organization Overview
IPS Enterprises Inc is located in Weslaco, TX. As of 06/2021, IPS Enterprises Inc employed 449 individuals. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
IPS ENTERPRISES PROVIDES PUBLIC CHARTER SCHOOL MANAGEMENT SERVICES TO IDEA PUBLIC SCHOOLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas E Torkelson CEO (to April 2020) | 5 | $375,921 | |
Julene Robinson Executive Director | Officer | 40 | $216,253 |
Adam Miller VP Of Advancement | 40 | $188,771 | |
Kenneth Campbell Executive Director | Officer | 40 | $186,023 |
Matthew Kyle Executive Director | 40 | $136,945 | |
Curtis Lawrence Principal | 40 | $133,306 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Certified General Contractors Construction | 6/29/21 | $1,998,425 |
Faulk & Meek General Contractor Construction | 6/29/21 | $913,415 |
Rowe Architects Incorporated Construction | 6/29/21 | $988,677 |
Project Management Services Construction | 6/29/21 | $582,054 |
Summit Construction Management Construction | 6/29/21 | $316,867 |
View All Vendors
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $515,551 |
| All other contributions, gifts, grants, and similar amounts not included above | $648,944 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,164,495 |
| Total Program Service Revenue | $28,379,711 |
| Investment income | $3 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $432,607 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $29,976,816 |
| 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. | $439,642 |
| Compensation of current officers, directors, key employees. | $61,094 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $19,739,302 |
| Pension plan accruals and contributions | $317,682 |
| Other employee benefits | $2,644,850 |
| Payroll taxes | $1,420,225 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $63,043 |
| Fees for services: Accounting | $8,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,128,245 |
| Advertising and promotion | $0 |
| Office expenses | $74,160 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $377,742 |
| Travel | $35,470 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,207,949 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,035,920 |
| Insurance | $141,645 |
| All other expenses | $0 |
| Total functional expenses | $29,633,875 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,422,032 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $476,650 |
| Accounts receivable, net | $4,822,468 |
| 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 | $1,340,694 |
| Net Land, buildings, and equipment | $93,192,137 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,213,847 |
| Other assets | $43,300 |
| Total assets | $110,511,128 |
| Accounts payable and accrued expenses | $25,364,565 |
| 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 | $81,186,592 |
| Unsecured mortgages and notes payable | $3,100,000 |
| Other liabilities | $3,254,593 |
| Total liabilities | $112,905,750 |
| Net assets without donor restrictions | -$2,420,389 |
| Net assets with donor restrictions | $25,767 |
| 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 | $110,511,128 |
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