Palm Bay Education Group Inc
- Assets
- $22.4m
- Revenue
- $7.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Panama City, FL
- Founding
- 09/2010
- Data as of
- 06/2022
- EIN
- 26-1413851
Organization Overview
Palm Bay Education Group Inc is located in Panama City, FL. The organization was established in 2010. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Palm Bay Education Group 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, Palm Bay Education Group Inc generated $7.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.0% each year . All expenses for the organization totaled $7.4m during the year ending 06/2022. While expenses have increased by 20.0% 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 3 PUBLIC CHARTER SCHOOLS IN THE STATE OF FLORIDA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE A UNIQUE SCHOOL ENVIRONMENT WHICH EMPHASIZES HIGH ACADEMIC ACHIEVEMENT THROUGH THE USE OF STATE-OF-THE-ART TECHNOLOGY AND INNOVATIVE BUT PROVEN EDUCATIONAL METHODS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lendy Willis Principal | Officer | 40 | $0 |
Kathleen Fontaine Chairman | Officer | 0.5 | $0 |
Sue Bunce Sec/treas | Trustee | 0.5 | $0 |
Tracey Adcock Member | Trustee | 0.5 | $0 |
Derek Mcdavid Vice Chair | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Culpepper Construction Construction | 6/29/22 | $1,277,959 |
School Financial Services Accounting | 6/29/22 | $177,023 |
Dag Architects Construction | 6/29/22 | $124,007 |
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 | $6,644,127 |
| 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 | $7,030,723 |
| 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 | $294,733 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $991,884 |
| Insurance | $0 |
| All other expenses | $2,607,018 |
| Total functional expenses | $7,386,781 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $698,136 |
| Savings and temporary cash investments | $1,842,272 |
| Pledges and grants receivable | $367,811 |
| 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 | $45,966 |
| Net Land, buildings, and equipment | $17,532,489 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,958,961 |
| Total assets | $22,445,635 |
| Accounts payable and accrued expenses | $1,122,319 |
| 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 | $4,523,733 |
| Unsecured mortgages and notes payable | $100,673 |
| Other liabilities | $3,708,918 |
| Total liabilities | $9,455,643 |
| 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 | $13,204,805 |
| Retained earnings, endowment, accumulated income, or other funds | -$214,813 |
| Total liabilities and net assets/fund balances | $22,445,635 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Palm Bay Education Group Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Raymond James Charitable Endowment Fund St Petersberg, FL PURPOSE: GENERAL SUPPORT | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Georgia Advanced Technology Ventures Inc Atlanta, GA | $206,195,666 | $20,980,407 |
Galileo School Foundation Inc Sanford, FL | $34,481,901 | $12,247,750 |
Tree Of Knowledge Learning Academy Inc Miami Beach, FL | $8,101,415 | $14,538,092 |
Bridge Prep Academy Of Tampa Inc Miami, FL | $4,019,388 | $14,708,273 |
Alabama Nursing Home Association Education Foundation Montgomery, AL | $40,408,149 | $40,141,575 |
Centennial Place Academy Inc Atlanta, GA | $7,663,078 | $14,548,051 |
Georgia School Boards Association Workers Compensation Fund Lawrenceville, GA | $82,470,003 | $15,076,432 |
Pemayetv Emahakv Inc Hollywood, FL | $6,038,282 | $10,053,886 |
International Charter School Of Atlanta Inc Roswell, GA | $16,008,030 | $10,022,654 |
Gulf Coast Workforce Development Board Inc Panama City, FL | $2,763,305 | $9,285,107 |
Community Action Agency Of South Alabama Daphne, AL | $2,794,375 | $8,517,867 |
Northeast Florida Community Action Agency Inc Jacksonville, FL | $1,884,590 | $8,774,911 |