Icon Preparatory School INC FY2024 filing

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To provide a comprehensive college Preparatory education and character development to students that leads to their success in college and life.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $52K a year · 1% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
3 mo
of spending, in cash
Fine: 2.8 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $11K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$7.2M
90% of total assets
Concern: liabilities are 90% of assets; over 80%.
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
$4.2M
-0.9% vs prior year
Spent
$4.3M
To programs
100%
Net assets
$771K
By yearFY2021–FY2025
Revenue
$4.2M
FY2024▼ -0.9%
Tap a bar for its year
Revenue by fiscal year
FY2021$3.2M
FY2022$4.0M
FY2023$4.3M
FY2024$4.2M
FY2025$6.6M
Expenses
$4.3M
FY2024▼ -11%
Tap a bar for its year
Expenses by fiscal year
FY2021$2.9M
FY2022$3.6M
FY2023$4.8M
FY2024$4.3M
FY2025$6.5M
Net assets
$771K
FY2024▲ +228%
Tap a bar for its year
Net assets by fiscal year
FY2021$343K
FY2022$741K
FY2023$235K
FY2024$771K
FY2025$896K

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 2018.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $4.3M

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Principal
$0Pt VII · Sec A

Compensation history total reportable pay by year · 5 named individuals · Part VII

NameFY2023FY2022FY2021
Dwayne Raiford$119,880$110,104$117,352
Yuri Higgins$119,880$114,013—
Lolita Jackson——$117,352
Yuri Higgens——$117,352
Justin Smith——$107,228

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.

See Icon Preparatory School INC executive salaries →

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

Programs and updates

Educates students for college and life success through comprehensive preparation and character development.

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1 program · $4.3M · in their own filed words · FY2023
01

To provide a comprehensive college preparatory education and character development to students that leads to their success in college and life.

$4.3Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2025
Total grants receivedfrom 1 funder$11K

Federal money

Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending Jun 2024 · $1.5M federal money spent
Disaster Assistance LoansSmall Business Administration · ALN 59.008 · Direct$629K
National School Lunch ProgramDepartment of Agriculture · ALN 10.555 · Through Florida Dept of Agriculture and Consumer Services$560K
School Breakfast ProgramDepartment of Agriculture · ALN 10.553 · Through Florida Dept of Agriculture and Consumer Services$276K

The auditor reported no findings.

Year ending Jun 2023 · $1.4M federal money spent
National School Lunch ProgramDepartment of Agriculture · ALN 10.555 · Through FL Dept of Agriculture & Consumer Services$620K
Disaster Assistance LoansSmall Business Administration · ALN 59.008 · Direct$494K
School Breakfast ProgramDepartment of Agriculture · ALN 10.553 · Through FL Dept of Agriculture & Consumer Services$274K

The auditor reported no findings.

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$4.2M
Ln 12
Fees for servicesLn 2g$3.2M
Gifts and grantsLn 1h$1.0M
Money outPt IX
$4.3M
Ln 25
Programscol B$4.3M
Owns and owesPt X
$771K
net assets · Ln 32
Cash and savingsLn 1–2$1000K
Total assetsLn 16$8.0M
LiabilitiesLn 26$7.2M
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.0M
Government grantsLn 1e$836K
Fees for servicesLn 2g$3.2M
Total revenueLn 12$4.2M
Assets in detailPt X, end of year
CashLn 1$1000K
Cash and savings togetherLn 1–2$1000K
Accounts receivableLn 4$5K
Notes and loans receivableLn 7$1.9M
Land, buildings, equipmentLn 10c$5.1M
Total assetsLn 16$8.0M
LiabilitiesLn 26$7.2M
Net assetsLn 32$771K
OperationsPt I, VI
EmployeesI 545
VolunteersI 65
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$872K$1000K
Land, buildings, equipmentLn 10c$76K$5.1M
Total assetsLn 16$2.2M$8.0M
LiabilitiesLn 26$2.0M$7.2M
Net assetsLn 32$235K$771K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$2.1M$2.1M$0$0
Payroll taxesLn 10$171K$171K$0$0
Office expensesLn 13$96K$96K$0$0
OccupancyLn 16$406K$406K$0$0
TravelLn 17$13K$13K$0$0
InterestLn 20$81K$81K$0$0
Depreciation, depletion and amortizationLn 22$26K$26K$0$0
Other expenses (24a–d)Ln 24$1.3M$1.3M$0$0
Total functional expensesLn 25$4.3M$4.3M$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Mar 23, 2026 $6.6M$6.5M$125K$896K 990 PDF
FY2024 ViewingFiled with the IRS Apr 14, 2025 $4.2M$4.3M−$43K$771K 990 PDF
FY2023Filed with the IRS Jan 16, 2024 $4.3M$4.8M−$506K$235K 990 PDF
FY2022Filed with the IRS May 15, 2023 $4.0M$3.6M$398K$741K 990 PDF
FY2021Filed with the IRS Apr 22, 2022 $3.2M$2.9M$283K$343K 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $4,214,664 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,143,788$1,023,131
I-9 Program service revenuePrior year $3,109,915$3,191,533
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $4,253,703$4,214,664
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $2,439,735$2,305,413
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $2,319,966$1,952,341
I-18 Total expensesPrior year $4,759,701$4,257,754
I-19 Revenue less expensesPrior year −$505,998−$43,090
Part VI · Governance 5 of 5 board members independent, 2 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $4,214,664 across 5 lines filed
VIII-1e Government grants$836,259
VIII-1f All other contributions, gifts and grants$186,872
VIII-1h Total contributions, gifts and grants$1,023,131
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$3,191,533
VIII-12 Total revenueRelated to mission $3,191,533 · Unrelated business $0 · Excluded from tax $0$4,214,664
Part IX · Statement of functional expenses $4,257,754 across 8 lines filed
IX-7 Other salaries and wagesPrograms $2,134,642 · Management $0 · Fundraising $0$2,134,642
IX-10 Payroll taxesPrograms $170,771 · Management $0 · Fundraising $0$170,771
IX-13 Office expensesPrograms $95,935 · Management $0 · Fundraising $0$95,935
IX-16 OccupancyPrograms $406,262 · Management $0 · Fundraising $0$406,262
IX-17 TravelPrograms $12,972 · Management $0 · Fundraising $0$12,972
IX-20 InterestPrograms $80,913 · Management $0 · Fundraising $0$80,913
IX-22 Depreciation, depletion and amortizationPrograms $25,579 · Management $0 · Fundraising $0$25,579
IX-24 Other expenses (24a–d)Programs $1,330,680 · Management $0 · Fundraising $0$1,330,680
IX-25 Total functional expensesPrograms $4,257,754 · Management $0 · Fundraising $0$4,257,754
Part X · Balance sheet $8,004,739 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $872,004$999,524
X-4 Accounts receivableStart of year $101,019$5,015
X-7 Notes and loans receivableStart of year $1,171,568$1,920,477
X-9 Prepaid expenses and deferred chargesStart of year $25,000$0
X-10c Land, buildings and equipment, netStart of year $75,620$5,079,723
X-16 Total assetsStart of year $2,245,211$8,004,739
X-17 Accounts payable and accrued expensesStart of year $32,468$28,282
X-23 Secured mortgages and notes payable$6,955,288
X-24 Unsecured notes and loans payableStart of year $1,977,839$250,000
X-26 Total liabilitiesStart of year $2,010,307$7,233,570
X-27 Net assets without donor restrictionsStart of year $234,904$771,169
X-32 Total net assets or fund balancesStart of year $234,904$771,169
X-33 Total liabilities and net assetsStart of year $2,245,211$8,004,739
Part XI · Reconciliation of net assets $771,169 net assets at year end
XI-1 Total revenue$4,214,664
XI-2 Total expenses$4,257,754
XI-3 Revenue less expenses−$43,090
XI-4 Net assets at start of year$234,904
XI-10 Net assets at end of year$771,169

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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