Cutting Edge Learning Academy INC FY2020 filing

Tax-deductible

Riverview, FL501(c)(3)EducationEIN 46-4185917Revenue $560K in FY2020

On file with the IRScuttingedgelearningacademy.org10512 Lake St Charles Blvd, 33578-4595 · Riverview, FLTax-exempt since Mar 2015School — 170(b)(1)(A)(ii)

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Cutting Edge Learning Academy, INC. Motivates students to pursue their academic, spiritual, and social goals while focusing on practicing the love of god and neighbor in their daily interactions. Cutting Edge Learning Academy, INC. Staff provides a nurturing environment.

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
$222K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $2K a year · under 1% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$222K
to officers and key staff · 35% of spending
Concern: pay to officers and key staff is 35% of spending; over 30%.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.6 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$136K
379% of total assets
Concern: liabilities are 379% of assets; over 80%.
Pt X · Ln 26
Independent board members
0
of 3 voting members
Concern: none of 3 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$560K
Spent
$628K
To programs
84%
Net assets
−$100K
By yearFY2020–FY2024
Revenue
$560K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$560K
FY2021$789K
FY2022$766K
FY2023$693K
FY2024$726K
Expenses
$628K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$628K
FY2021$709K
FY2022$729K
FY2023$733K
FY2024$747K
Net assets
−$100K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020−$100K
FY2021−$17K
FY2022$11K
FY2023−$28K
FY2024−$78K

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 2015.

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

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $530K Management & general 16% · $98K

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

3 people listed on the 990; $222K paid to officers and key staff.

Part VII, Section A · reportable compensation
Vice Pres/Se
$103,757Pt VII · Sec A
$86,478Pt VII · Sec A
$31,764Pt VII · Sec A

Rev Mother Carina Okeke’s $102K as President/Tr is at the 85th percentile of top reported officer pay among 1613 $100K–1M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Regina Maraizu——$76,637$93,961$103,757
Rev Mother Carina Okeke$102,432$98,546$82,437$90,604$86,478
Gabriela Melo-Fermin——$35,673$14,835—
Theresa Peters————$31,764

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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo
  • Loans to or from officersSch L · Pt II4 listed

Programs and updates

Nurtures students academically, spiritually, and socially, encouraging love of God and neighbor.

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Provided by the organization

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1 program · $530K · in their own filed words · FY2020
01

Educational institution nurturing academic, spiritual, and social goals

$530Kprogram expense

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$560K
Ln 12
Fees for servicesLn 2g$547K
Other incomeLn 4–11$10K
Gifts and grantsLn 1h$3K
Money outPt IX
$628K
Ln 25
Programscol B$530K
Managementcol C$98K
Owns and owesPt X
−$100K
net assets · Ln 32
Cash and savingsLn 1–2$32K
Total assetsLn 16$36K
LiabilitiesLn 26$136K
PeoplePt VI, VII
3
listed · VII A
PaidVII A3
Voting boardVI 1a3
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3K
Fees for servicesLn 2g$547K
Other incomeLn 4–11$10K
Total revenueLn 12$560K
Assets in detailPt X, end of year
CashLn 1$32K
Cash and savings togetherLn 1–2$32K
Land, buildings, equipmentLn 10c$2K
Other assetsLn 15$2K
Total assetsLn 16$36K
LiabilitiesLn 26$136K
Net assetsLn 32−$100K
OperationsPt I, VI
EmployeesI 522
VolunteersI 61
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$27K$32K
Land, buildings, equipmentLn 10c$4K$2K
Total assetsLn 16$33K$36K
LiabilitiesLn 26$61K$136K
Net assetsLn 32−$29K−$100K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$222K$136K$86K
Other salaries and wagesLn 7$222K$222K
Payroll taxesLn 10$35K$29K$7K
Legal feesLn 11b$697$697
Accounting feesLn 11c$4K$4K
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$13K$13K
OccupancyLn 16$90K$90K
TravelLn 17$1K$1K
Conferences, conventions and meetingsLn 19$516$516
InterestLn 20$896$896
Depreciation, depletion and amortizationLn 22$2K$2K
InsuranceLn 23$5K$5K
Other expenses (24a–d)Ln 24$23K$23K
All other expensesLn 24e$6K$6K$531
Total functional expensesLn 25$628K$530K$98K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $726K$747K−$21K−$78K 990 PDF
FY2023 $693K$733K−$40K−$28K 990 PDF
FY2022 $766K$729K$37K$11K 990 PDF
FY2021 $789K$709K$80K−$17K 990 PDF
FY2020 Viewing $560K$628K−$68K−$100K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $560,277 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,211$2,753
I-9 Program service revenuePrior year $536,725$547,295
I-10 Investment income$0
I-11 Other revenuePrior year $15,388$10,229
I-12 Total revenuePrior year $554,324$560,277
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $343,298$479,596
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $152,839$148,687
I-18 Total expensesPrior year $496,137$628,283
I-19 Revenue less expensesPrior year $58,187−$68,006
Part VI · Governance 0 of 3 board members independent, 4 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members0
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $560,277 across 6 lines filed
Lines not itemized here account for $524 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$2,753
VIII-1h Total contributions, gifts and grants$2,753
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $546,781$546,781
VIII-8 Net income from fundraising eventsExcluded from tax $9,387$9,387
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $832$832
VIII-12 Total revenueRelated to mission $547,295 · Excluded from tax $10,229$560,277
Part IX · Statement of functional expenses $628,283 across 15 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $135,521 · Management $86,478$221,999
IX-7 Other salaries and wagesPrograms $222,431$222,431
IX-10 Payroll taxesPrograms $28,550 · Management $6,616$35,166
IX-11b Legal feesPrograms $697$697
IX-11c Accounting feesManagement $4,000$4,000
IX-12 Advertising and promotionPrograms $1,866$1,866
IX-13 Office expensesPrograms $12,845$12,845
IX-16 OccupancyPrograms $90,448$90,448
IX-17 TravelPrograms $1,138$1,138
IX-19 Conferences, conventions and meetingsManagement $516$516
IX-20 InterestPrograms $896$896
IX-22 Depreciation, depletion and amortizationPrograms $2,214$2,214
IX-23 InsurancePrograms $4,658$4,658
IX-24 Other expenses (24a–d)Programs $23,124$23,124
IX-24e All other expensesPrograms $5,754 · Management $531$6,285
IX-25 Total functional expensesPrograms $530,142 · Management $98,141 · Fundraising $0$628,283
Part X · Balance sheet $35,972 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $27,339$32,148
X-10c Land, buildings and equipment, netStart of year $3,531$2,064
X-15 Other assetsStart of year $1,760$1,760
X-16 Total assetsStart of year $32,630$35,972
X-17 Accounts payable and accrued expensesStart of year $12,064$30,340
X-26 Total liabilitiesStart of year $61,321$136,454
X-27 Net assets without donor restrictionsStart of year −$28,691−$100,482
X-32 Total net assets or fund balancesStart of year −$28,691−$100,482
X-33 Total liabilities and net assetsStart of year $32,630$35,972
Part XI · Reconciliation of net assets −$100,482 net assets at year end
XI-1 Total revenue$560,277
XI-2 Total expenses$628,283
XI-3 Revenue less expenses−$68,006
XI-4 Net assets at start of year−$28,691
XI-9 Other changes in net assets−$3,785
XI-10 Net assets at end of year−$100,482

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

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