Idea Public Schools
- Assets
- $1.7b
- Revenue
- $822.0m
- Investments
- $0.0
- Employees
- 8,555
- Location
- Weslaco, TX
- Founding
- 06/2000
- Data as of
- 06/2021
- EIN
- 74-2948339
Organization Overview
Idea Public Schools is located in Weslaco, TX. The organization was established in 2000. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2021, Idea Public Schools employed 8,555 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Idea Public Schools 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 06/2021, Idea Public Schools generated $822.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 20.5% each year . All expenses for the organization totaled $742.5m during the year ending 06/2021. While expenses have increased by 20.1% per year over the past 6 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.
Since 2015, Idea Public Schools has awarded 15 individual grants totaling $594,800. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
IDEA PUBLIC SCHOOLS PROVIDES EDUCATIONAL SERVICES TO STUDENTS IN GRADES PRE-K THROUGH 12.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IDEA PUBLIC SCHOOLS IS A GROWING NETWORK OF TUITION-FREE PUBLIC CHARTER SCHOOLS SERVING GRADES PRE-K THROUGH 12. IDEA SERVES MORE THAN 62,158 STUDENTS IN 111 SCHOOLS THROUGHOUT RIO GRANDE VALLEY, AUSTIN, SAN ANTONIO, EL PASO, MIDLAND, AND TARRANT COUNTY. IDEA IS COMMITTED TO "COLLEGE FOR ALL CHILDREN AND HAS DEMONSTRATED THIS BY ENSURING A NEARLY 100% ACCEPTANCE RATE OF ITS GRADUATES TO COLLEGES OR UNIVERSITIES OF THEIR CHOICE. IDEA PUBLIC SCHOOLS RECEIVED A STATE ACCOUNTABILITY RATING OF "B" IN THE 2018-2019 SCHOOL YEAR BY THE TEXAS EDUCATION AGENCY AND WAS NOT RATED IN THE 2019-20 AND 2020-21 SCHOOL YEARS DUE TO THE TEXAS STATE DISASTER DECLARATION. IN ADDITION, SPECIFIC NEEDS OF 30,855 CHILDREN IDENTIFIED AS "AT RISK" WERE ADDRESSED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas E Torkelson CEO (to April 2020) | 35 | $489,748 | |
Joann Gama CEO & Superintendent | Officer | 35 | $462,077 |
Irma Munoz Chief Operating Officer | Officer | 40 | $421,178 |
Dolores Gonzalez Chief Program Officer | Officer | 40 | $378,555 |
Samuel J Goessling Chief Advancement Officer | Officer | 40 | $346,758 |
Martin Winchester Chief Human Assets Officer | Officer | 40 | $336,054 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Joeris General Contractors Construction | 6/29/21 | $22,874,479 |
Banes General Contractors Construction | 6/29/21 | $19,505,631 |
Kencon Construction Construction | 6/29/21 | $26,486,166 |
D Wilson Construction Company Construction | 6/29/21 | $51,864,000 |
Gerlach Builders Construction | 6/29/21 | $10,875,703 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $200,202 |
| Related organizations | $0 |
| Government grants | $782,206,643 |
| All other contributions, gifts, grants, and similar amounts not included above | $24,238,537 |
| Noncash contributions included in lines 1a–1f | $1,525,690 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $806,645,382 |
| Total Program Service Revenue | $11,569,879 |
| Investment income | $1,469,270 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $948,294 |
| Net Income from Fundraising Events | -$35,945 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $822,040,599 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $29,000 |
| Grants and other assistance to domestic individuals. | $1,932,203 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $9,607,167 |
| Compensation of current officers, directors, key employees. | $4,489,781 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $387,503,141 |
| Pension plan accruals and contributions | $19,250,448 |
| Other employee benefits | $43,257,722 |
| Payroll taxes | $5,669,019 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,999,577 |
| Fees for services: Accounting | $164,731 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $46,700 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $39,313,868 |
| Advertising and promotion | $0 |
| Office expenses | $59,059,197 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $44,036,014 |
| Travel | $2,139,342 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $35,032,452 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $43,388,049 |
| Insurance | $4,911,419 |
| All other expenses | $5,536,126 |
| Total functional expenses | $742,490,040 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $129,128,036 |
| Savings and temporary cash investments | $173,409,142 |
| Pledges and grants receivable | $154,746,743 |
| Accounts receivable, net | $145,758 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $341,594 |
| Prepaid expenses and deferred charges | $2,247,133 |
| Net Land, buildings, and equipment | $1,176,983,996 |
| Investments—publicly traded securities | $61,609,497 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $24,764,403 |
| Other assets | $2,275,991 |
| Total assets | $1,725,652,293 |
| Accounts payable and accrued expenses | $136,771,333 |
| Grants payable | $0 |
| Deferred revenue | $14,209,172 |
| Tax-exempt bond liabilities | $965,699,149 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $256,950,407 |
| Unsecured mortgages and notes payable | $1,336,630 |
| Other liabilities | $25,590,057 |
| Total liabilities | $1,400,556,748 |
| Net assets without donor restrictions | $422,822 |
| Net assets with donor restrictions | $324,672,723 |
| 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 | $1,725,652,293 |
Grants Awarded
Over the last fiscal year, Idea Public Schools has awarded $168,234 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
Mcallen, TX PURPOSE: EDUCATION CONCERTS | $20,000 |
Mcallen, TX PURPOSE: EDUCATION CONCERTS | $20,000 |
Mcallen, TX PURPOSE: EDUCATION CONCERTS | $20,000 |
Pharr, TX PURPOSE: BUILDING & LAND IMPR | $16,134 |
MD ANDERSON CANCER CENTER PURPOSE: CHARITY SPONSOR | $10,700 |
MD ANDERSON CANCER CENTER PURPOSE: CHARITY SPONSOR | $10,700 |
Grants Recieved
Over the last fiscal year, we have identified 40 grants that Idea Public Schools has recieved totaling $18,896,828.
| Awarding Organization | Amount |
|---|---|
Accelerate Great Schools Cincinnati, OH PURPOSE: SEE PART IV | $9,809,090 |
Walton Family Foundation Inc Bentonville, AR PURPOSE: TO SUPPORT THE ESTABLISHMENT OF A REGIONAL INFRASTRUCTURE FOR THE 20-SCHOOL EXPANSION AND START-UP OPERATING EXPENSES FOR FOUR SCHOOLS. | $1,500,000 |
Walton Family Foundation Inc Bentonville, AR PURPOSE: TO SUPPORT THE GRANTEE IN MAINTAINING A 1.5 DEBT SERVICE CREDIT RATIO TO ENABLE THEM TO MAINTAIN AN INVESTMENT GRADE RATING OF BBB. | $1,291,500 |
Cockrell Foundation Houston, TX PURPOSE: SUPPORT LAUNCH OF TEN PRE-K-12 SCHOOLS IN HOUSTON | $1,000,000 |
Vinik Family Foundation Tampa, FL PURPOSE: GENERAL SUPPORT | $1,000,000 |
Musk Foundation Austin, TX PURPOSE: SUPPORT EDUCATION OF STUDENTS FROM UNDERSERVED COMMUNITIES | $941,519 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Idea Public Schools Weslaco, TX | $1,725,652,293 | $822,040,599 |
Harmony Public Schools Houston, TX | $922,634,599 | $499,142,320 |
Uplift Education Dallas, TX | $529,971,241 | $254,959,728 |
Responsive Education Solutions Lewisville, TX | $503,486,883 | $249,736,936 |
Inspirenola Charter Schools New Orleans, LA | $22,382,887 | $74,884,221 |
Kinkaid School Inc Houston, TX | $122,042,370 | $52,090,713 |
St Johns School Houston, TX | $423,318,238 | $58,605,665 |
Hockaday School Dallas, TX | $327,432,445 | $61,281,462 |
Trinity Basin Preparatory Inc Grand Prairie, TX | $147,305,445 | $57,426,553 |
Greenhill School Addison, TX | $147,490,301 | $53,613,950 |
St Marks School Of Texas Dallas, TX | $307,638,954 | $39,530,532 |
Tlc Academy San Angelo, TX | $61,295,304 | $42,259,776 |