Edison Academics INC FY2020 filing

IRS exemption revoked

Bradenton, FLUnknown exempt organization EIN 27-0612152Revenue $236K in FY2020

On file with the IRSedisonacademicschool.com7710 Cortez Rd W · Bradenton, FL

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Provide an educational setting where students of diverse ages and interests can pursue a college preparatory education. Our goal is to supply the guidance necessary to develop in each student the confidence to begin a task, determination to continue and the skills to complete.

78¢ of each $1 spent went to programs.
$26K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
Revoked
IRS exemption revoked
Concern: the IRS revoked its tax exemption.
IRS Auto-Revocation List
Latest return
FY2021
latest Form 990
Concern: the latest return is for FY2021, 5 tax years back; more than 4 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 2
filings with a surplus
Average deficit $15K a year · 6% of revenue · last 2 filings
Concern: a surplus in 0 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
78%
of spending
Looks good: 78% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$26K
to officers and key staff · 11% of spending
Looks good: pay to officers and key staff is 11% of spending; 15% or less.
Pt VII · Sec A
<1 mo
of spending, in cash
Concern: 0.3 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$236K
Spent
$238K
To programs
78%
Net assets
$37K
By yearFY2020–FY2021
Revenue
$236K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$236K
FY2021$259K
Expenses
$238K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$238K
FY2021$288K
Net assets
$37K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$37K
FY2021$10K

From the FY2020 Form 990 (year ending July 2020) · see the original

990 PDF Claim
IRS revoked this organization's tax-exempt status on December 15, 2024
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2021) →

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2021.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

78 cents of each dollar spent went to programs.

Program services 78% · $186K Management & general 22% · $52K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

5 people listed on the 990; $26K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Secretary
$25,778Pt VII · Sec A
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2021FY2020
Paula Jackson$25,778$25,778

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Offers college prep education and guidance to develop student confidence and completion skills.

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Provided by the organization

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1 program · $186K · in their own filed words · FY2019
01

Edison academics inc provided a school setting where students of diverse ages, interests and backgrounds pursued their education. We provided the guidance to develop in each student the confidence needed to begin, determination to continue and the skills and drive necessary to successfully complete projects and assignments.

$186Kprogram expense

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$236K
Ln 12
Fees for servicesLn 2g$236K
Money outPt IX
$238K
Ln 25
Programscol B$186K
Managementcol C$52K
Owns and owesPt X
$37K
net assets · Ln 32
Cash and savingsLn 1–2$6K
Total assetsLn 16$37K
LiabilitiesLn 26$0
PeoplePt VI, VII
5
listed · VII A
PaidVII A1
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$236K
Total revenueLn 12$236K
Assets in detailPt X, end of year
CashLn 1$6K
Cash and savings togetherLn 1–2$6K
Land, buildings, equipmentLn 10c$12K
Total assetsLn 16$37K
LiabilitiesLn 26$0
Net assetsLn 32$37K
OperationsPt I, VI
EmployeesI 53
Fiscal year endsHeaderJuly
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$33K$6K
Land, buildings, equipmentLn 10c$13K$12K
Total assetsLn 16$46K$37K
LiabilitiesLn 26$0$0
Net assetsLn 32$46K$37K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$2K$2K
Pay of current officers, directors and key staffLn 5$26K$26K
Other salaries and wagesLn 7$38K$38K
Payroll taxesLn 10$5K$3K$2K
Accounting feesLn 11c$3K$3K
Other fees for servicesLn 11g$72K$72K
Advertising and promotionLn 12$532$532
Office expensesLn 13$2K$2K
Information technologyLn 14$5K$4K$493
OccupancyLn 16$42K$41K$750
TravelLn 17$6K$2K$4K
Depreciation, depletion and amortizationLn 22$1K$1K
InsuranceLn 23$4K$4K
Other expenses (24a–d)Ln 24$29K$24K$5K
All other expensesLn 24e$3K$3K
Total functional expensesLn 25$238K$186K$52K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2021 Latest $259K$288K−$29K$10K 990 PDF
FY2020 Viewing $236K$238K−$2K$37K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $236,238 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $277,855$236,238
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $277,855$236,238
I-13 Grants and similar amounts paid$1,500
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $99,845$68,744
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $142,015$167,877
I-18 Total expensesPrior year $241,860$238,121
I-19 Revenue less expensesPrior year $35,995−$1,883
Part VI · Governance 5 of 5 board members independent, 1 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $236,238 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $236,238$236,238
VIII-12 Total revenueRelated to mission $236,238 · Unrelated business $0 · Excluded from tax $0$236,238
Part IX · Statement of functional expenses $238,121 across 15 lines filed
IX-1 Grants to domestic organizationsPrograms $1,500$1,500
IX-5 Pay of current officers, directors and key staffManagement $25,778$25,778
IX-7 Other salaries and wagesPrograms $37,944$37,944
IX-10 Payroll taxesPrograms $3,001 · Management $2,021$5,022
IX-11c Accounting feesManagement $3,400$3,400
IX-11g Other fees for servicesPrograms $71,733$71,733
IX-12 Advertising and promotionPrograms $532$532
IX-13 Office expensesManagement $2,397$2,397
IX-14 Information technologyPrograms $4,118 · Management $493$4,611
IX-16 OccupancyPrograms $41,357 · Management $750$42,107
IX-17 TravelPrograms $1,942 · Management $3,585$5,527
IX-22 Depreciation, depletion and amortizationManagement $1,208$1,208
IX-23 InsuranceManagement $3,905$3,905
IX-24 Other expenses (24a–d)Programs $24,042 · Management $4,998$29,040
IX-24e All other expensesManagement $3,417$3,417
IX-25 Total functional expensesPrograms $186,169 · Management $51,952 · Fundraising $0$238,121
Part X · Balance sheet $37,052 assets, 7 lines filed
Asset lines not itemized here account for $18,882; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $33,133$6,346
X-10c Land, buildings and equipment, netStart of year $13,032$11,824
X-16 Total assetsStart of year $46,165$37,052
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $46,165$37,052
X-32 Total net assets or fund balancesStart of year $46,165$37,052
X-33 Total liabilities and net assetsStart of year $46,165$37,052
Part XI · Reconciliation of net assets $37,052 net assets at year end
XI-1 Total revenue$236,238
XI-2 Total expenses$238,121
XI-3 Revenue less expenses−$1,883
XI-4 Net assets at start of year$46,165
XI-8 Prior period adjustments−$7,230
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$37,052

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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