River City Education Services
- Assets
- $97.3m
- Revenue
- $40.8m
- Investments
- $0.0
- Employees
- 542
- Location
- Jacksonville, FL
- Founding
- 10/2007
- Data as of
- 06/2022
- EIN
- 20-5773949
Organization Overview
River City Education Services is located in Jacksonville, FL. The organization was established in 2007. 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, River City Education Services employed 542 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. River City Education Services 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, River City Education Services generated $40.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.7% each year . All expenses for the organization totaled $35.2m during the year ending 06/2022. While expenses have increased by 19.1% per year over the past 7 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 OPERATE 5 CHARTER SCHOOLS IN DUVAL COUNTY, FLORIDA
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PREPARE STUDENTS TO REACH THEIR MAXIMUM POTENTIAL IN ALL SUBJECTS WITH SPECIAL EMPHASIS ON MATHEMATICS, SCIENCE, AND READING, USING A RESEARCH-BASED SUCCESSFUL CURRICULUM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dogan Tozoglu Exec Director | Officer | 40 | $177,050 |
Shahriyar Mammadov President | Officer | 1 | $0 |
Baybars Bakay Secretary | Officer | 1 | $0 |
Lakesha A Burton Member | Trustee | 1 | $0 |
Sakhavat Mammadov Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Student Transportation Of America Transportation | 6/29/15 | $415,800 |
Sla Management Food Service Mgmt | 6/29/15 | $279,825 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $34,374,751 |
| 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 | $40,759,077 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,460,438 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,305,404 |
| Insurance | $0 |
| All other expenses | $12,696,644 |
| Total functional expenses | $35,172,293 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,122,474 |
| Savings and temporary cash investments | $1,658,040 |
| Pledges and grants receivable | $1,682,835 |
| Accounts receivable, net | $64,395 |
| 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 | $76,553,949 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,240,065 |
| Total assets | $97,321,758 |
| Accounts payable and accrued expenses | $193,539 |
| Grants payable | $0 |
| Deferred revenue | $110,679 |
| Tax-exempt bond liabilities | $12,927,276 |
| 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 | $0 |
| Other liabilities | $75,989,131 |
| Total liabilities | $89,220,625 |
| Net assets without donor restrictions | $0 |
| 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 | -$290,506 |
| Retained earnings, endowment, accumulated income, or other funds | $8,391,639 |
| Total liabilities and net assets/fund balances | $97,321,758 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that River City Education Services has recieved totaling $636.
| Awarding Organization | Amount |
|---|---|
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $136 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pinecrest Academy Inc Miami, FL | $196,713,238 | $104,129,218 |
Southwest Charter Foundation Inc Fort Lauderdale, FL | $116,504,611 | $61,802,178 |
Advantage Academy Of Hillsborough Inc Coral Springs, FL | $185,732,767 | $61,697,931 |
Doral Academy Inc Miami, FL | $78,216,564 | $49,667,670 |
Lake Wales Charter Schools Lake Wales, FL | $35,506,108 | $45,984,784 |
Drew Charter School Inc Atlanta, GA | $34,692,137 | $41,952,542 |
River City Education Services Jacksonville, FL | $97,321,758 | $40,759,077 |
Georgia Connections Academy Charter School Inc Duluth, GA | $22,514,475 | $38,349,918 |
Mater Academy Central Inc Kissimmee, FL | $56,599,415 | $27,041,064 |
Kindezi School Inc Atlanta, GA | $19,750,427 | $21,363,051 |
Discovery Education Services Inc Orlando, FL | $22,168,948 | $29,305,548 |
Floridians For Quality Virtual Education Inc Tampa, FL | $7,270,958 | $27,629,122 |