philanthropy.org | 990 Resource | FAQ Verify yourself
Sign in
Ips Enterprises INC EIN 84-4633153

Ips Enterprises INC

EIN  84-4633153 Supporting organization Weslaco, TX Founded 2019
Form 990 (PDF) Compare with another nonprofit →
Verified accurate 7/6/26 · see original filing: IRS
Is this your organization?
Claim this profile to manage it and share your story.
Claim
Provided by the organization

This section is blank until Ips Enterprises INC claims this page.

Know this organization? Claim it to add your story

Size
$100M+
What they do
Manages public charter schools by providing administrative and operational support services to IDEA Public Schools.
Leadership
Simaran Bakshi · Executive Dir. - Jacksonville, Fl · $201K
Money in and out
$114.7M revenue, $109.4M expenses
Bottom line
+5% net inflow

Manages public charter schools by providing administrative and operational support services to IDEA Public Schools. For fiscal year 2024 it reported $114.7M in revenue, $109.4M in expenses, and $5.1M in net assets.Pt I

Money in and out · FY2024
Total revenue
$114.7M
Pt VIII · Ln 12
Total expenses
$109.4M
Pt IX · Ln 25
Net assets
$5.1M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $5.3M
Where spending went · Part IX cols B–D
Program services $0.94 Management & general $0.06 Fundraising $0.00
Net inflow
+5%
revenue over expenses, this year▼ -8% vs prior filing year
Pass-through gifts
19%
of revenue from contributions▼ -27% vs prior filing year
Program spending
94%
of expenses reach stated programs▲ +10% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$114.7M
FY2024▼ -4%
Expenses
$109.4M
FY2024▼ -4%
Total assets
$293.5M
FY2024▼ -8%
Total liabilities
$288.4M
FY2024▼ -10%
Total revenue
$114.7M
Pt VIII · Ln 12
Total expenses
$109.4M
Pt IX · Ln 25
Net assets
$5.1M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$5.3M
Total assetsPt X · Ln 16$293.5M
Program-expense ratioPt IX · col B94%
Voting members of governing bodyPt I · Ln 38
Independent voting membersPt I · Ln 48
Mission & Programs · Part III

Where the work happens

1 program service account for $102.5M of program spending, described in the organization's own filed words · FY2024.
01

See Schedule O

$102.5Mprogram expense

Run this program? Claim this org to tell your story

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CIps Enterprises INC
EINHdr · item D84-4633153
Principal addressHdr · item CWeslaco, TX
WebsiteHdr · item Jnone reported
Year of formationHdr · item L2019
State of legal domicileHdr · item MTX
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B19)
Ruling yearIRS BMFSep 2022

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a8
Independent voting membersPt VI · Ln 1b8
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Simaran Bakshi
Executive Dir. - Jacksonville, Fl
$200,986Pt VII · Sec A
James Hartman
Executive Dir. - Tampa Bay, Fl
$198,359Pt VII · Sec A
Matthew Robinson
Executive Dir. - Greater Cincinnati
$174,370Pt VII · Sec A
Clifford Wallace
Executive Dir. - Louisiana
$173,180Pt VII · Sec A
Jamelle Goodwin
Regional VP of Schools - Florida
$140,164Pt VII · Sec A
Lauren Shockley
Principal - Greater Cincinnati
$139,296Pt VII · Sec A
Janine Valentin
Regional Director of Ops - Florida
$136,235Pt VII · Sec A
Katrice Terrance
VP of Organizational Mgmt -Louisiana
$132,780Pt VII · Sec A

Simaran Bakshi’s $201K as Executive Dir. - Jacksonville, Fl is at the 5th percentile of top reported officer pay among 674 $100M+ 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 · 8 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021
Thomas E Torkelson————$375,921
Julene Robinson———$238,776$216,253
Matthew Kyle——$198,615$237,682$136,945
Adam Miller$81,504—$188,339$221,991$188,771
Kenneth Campbell———$207,735$186,023
Simaran Bakshi$200,986$174,101$162,665$167,337—
James Hartman$198,359$175,516———
Matthew Robinson$174,370$119,886———

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 Ips Enterprises INC executive salaries →

Are you one of these people? Claim this org to confirm your role

Statement of Revenue

Part VIII
Program service revenue$92.0M · 80%
Contributions & grants$21.9M · 19%
Investment income$773K · 1%
Program service revenue80%$92.0M
Contributions & grants19%$21.9M
Investment income1%$773K
— government grantsLn 1e$19.5M
Total revenueLn 12$114.7M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.94 Management & general $0.06 Fundraising $0.00
Program services94%$102.5M
Management & general6%$6.8M
Fundraising$12K
Total functional expensesLn 25$109.4M

Balance Sheet

Part X · end of year
CashLn 1$37.8M
Total assetsLn 16$293.5M
Total liabilitiesLn 26$288.4M
Total net assetsLn 32$5.1M
Months of cash on handcomputed4.1

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $37.8M · Operating expenses/yr $109.4M
4.1 months
Where the money goes
Program services
Program services $102.5M · Total expenses $109.4M
94%
Management & General
Management & general $6.8M · Total expenses $109.4M
6%
Fundraising
Fundraising $12K · Total expenses $109.4M
0%
Cost to raise $1
Fundraising expense (3-yr avg) $101K · Solicited contributions (3-yr avg) $3.0M
$0.03 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $21.9M · Total revenue $114.7M
19%
Government reliance
Government grants $19.5M · Total revenue $114.7M
17%
Earned-income share
Program service revenue $92.0M · Total revenue $114.7M
80%
Investment reliance
Investment income $773K · Total revenue $114.7M
+1%
Program self-sufficiency
Program service revenue $92.0M · Total expenses $109.4M
84%
Growth & trend
Revenue growth (YoY)
This year $114.7M · Prior year $119.7M
-4%
Revenue CAGR
FY2020 $30.0M · FY2024 $114.7M
+40%
Net-asset trend (YoY)
End of year $5.1M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $114.7M · Expenses $109.4M
+5%
Liabilities-to-Assets
Total liabilities — · Total assets $293.5M
—
Net-asset ratio
Net assets $5.1M · Total assets $293.5M
2%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $293.5M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Simaran Bakshi · Reported title Executive Dir. - Jacksonville, FL · Highest reported compensation $201K · Total expenses $109.4M
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $65.2M · Total expenses $109.4M
60%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 94%——
Overhead ratio 6%——
Fundraising cost ratio 0%——
Revenue growth -4%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · this organization's grantmaking
Grants paid · 7 grants · $87.3M · 2021–2024
Idea Florida INCFL · FY2024$19,466,950
Idea Florida INCFL · FY2023$30,888,386
Idea Greater Cincinnati INCOH · FY2023$286,552
Idea Florida INCFL · FY2022$24,875,482
Idea Greater Cincinnati INCOH · FY2022$5,111,495
Idea Greater Cincinnati INCOH · FY2021$6,322,000
Idea Public Schools Arkansas INCAR · FY2021$350,154

Compare

Search another nonprofit to view revenue, expenses, assets, key metrics, and leaders side by side

Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$119.7M revenue · ⤓ 990 PDF
FY2023$107.1M revenue · ⤓ 990 PDF
FY2022$79.1M revenue · ⤓ 990 PDF
FY2021$30.0M revenue · ⤓ 990 PDF

Want to add your own materials alongside these filings? Claim this org

Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the peer-cohort and compensation comparisons above.

Pay it forward
Keep 990 Scout free for the next person.

Better charities, better world. There is no paywall here and nothing to unlock: what you pay covers the next person's lookup.

Card, Apple Pay or Google Pay through Stripe. One time.