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Panacea Prep Charter School INC

Tax-deductible

Coral Springs, FL501(c)(3)Since 2012EducationEIN 90-0999318Revenue $1.5M in FY2024

On file with the IRSpanaceaprep.org201 N University Dr, 33071-7323 · Coral Springs, FLTax-exempt since Feb 2015School — 170(b)(1)(A)(ii)

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Grow character and knowledge and help children achieve their dreams for the future.

501(c)(3) charity; gifts are tax-deductible.
93¢ 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
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
3 of 5
filings with a surplus
Average deficit $23K a year · 2% 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
93%
of spending
Looks good: 93% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$28K
10% of total assets
Looks good: liabilities are 10% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.5M
+27% vs prior year
Spent
$1.3M
To programs
93%
Net assets
$261K
By yearFY2020–FY2024
Revenue
$1.5M
FY2024▲ +27%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.1M
FY2021$1.0M
FY2022$747K
FY2023$921K
FY2024$1.2M
FY2024$1.5M
Expenses
$1.3M
FY2024▲ +28%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.1M
FY2021$1.0M
FY2022$941K
FY2023$960K
FY2024$1.1M
FY2024$1.3M
Net assets
$261K
FY2024▲ +134%
Tap a bar for its year
Net assets by fiscal year
FY2020$226K
FY2021$238K
FY2022$45K
FY2023$292
FY2024$112K
FY2024$261K

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

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

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

Where the money goes

93 cents of each dollar spent went to programs.

Program services 93% · $1.2M Management & general 7% · $99K

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.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Bruce Johnson
Treasurer
$0Pt VII · Sec A
George Simpson
Board Chair
$0Pt VII · Sec A
See Panacea Prep Charter School INC executive salaries →

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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

Programs and updates

Offers educational services for kindergarten through fifth-grade students.

Provided by the organization

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1 program · $1.2M · in their own filed words · FY2024
01

Operate an elementary school with approximately 106 students.

$1.2Mprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.5M
Ln 12
Gifts and grantsLn 1h$1.4M
Investment incomeLn 3$21K
Fees for servicesLn 2g$15K
Money outPt IX
$1.3M
Ln 25
Programscol B$1.2M
Managementcol C$99K
Owns and owesPt X
$261K
net assets · Ln 32
Cash and savingsLn 1–2$219K
Total assetsLn 16$289K
LiabilitiesLn 26$28K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.4M
Government grantsLn 1e$170K
Fees for servicesLn 2g$15K
Investment incomeLn 3$21K
Total revenueLn 12$1.5M
Assets in detailPt X, end of year
CashLn 1$219K
Cash and savings togetherLn 1–2$219K
Land, buildings, equipmentLn 10c$16K
Other assetsLn 15$13K
Total assetsLn 16$289K
LiabilitiesLn 26$28K
Net assetsLn 32$261K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
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 FY24End FY24
Cash and savingsLn 1–2$125K$219K
Land, buildings, equipmentLn 10c$0$16K
Total assetsLn 16$254K$289K
LiabilitiesLn 26$142K$28K
Net assetsLn 32$112K$261K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$445K$387K$58K
Other employee benefitsLn 9$63K$50K$13K
Payroll taxesLn 10$38K$33K$5K
Legal feesLn 11b$500$500
Accounting feesLn 11c$36K$24K$12K
Other fees for servicesLn 11g$325K$325K
OccupancyLn 16$177K$177K
Depreciation, depletion and amortizationLn 22$4K$4K
Other expenses (24a–d)Ln 24$246K$242K$4K
All other expensesLn 24e$11K$6K$5K
Total functional expensesLn 25$1.3M$1.2M$99K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $1.2M$1.1M$111K$112K 990 PDF
FY2023 $921K$960K−$39K$292 990 PDF
FY2022 $747K$941K−$194K$45K 990 PDF
FY2021 $1.0M$1.0M$3K$238K 990 PDF
FY2020 $1.1M$1.1M$5K$226K 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 FY2024 990 (6 parts)
Part I · Summary $1,474,962 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,152,401$1,438,867
I-9 Program service revenuePrior year $10,104$14,673
I-10 Investment incomePrior year $30$21,422
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $1,162,535$1,474,962
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $508,680$546,022
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $542,557$799,325
I-18 Total expensesPrior year $1,051,237$1,345,347
I-19 Revenue less expensesPrior year $111,298$129,615
Part VI · Governance 3 of 3 board members independent, 1 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
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-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $1,474,962 across 6 lines filed
VIII-1e Government grants$169,507
VIII-1f All other contributions, gifts and grants$1,269,360
VIII-1h Total contributions, gifts and grants$1,438,867
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Excluded from tax $14,673$14,673
VIII-3 Investment incomeExcluded from tax $21,422$21,422
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $36,095$1,474,962
Part IX · Statement of functional expenses $1,345,347 across 10 lines filed
IX-7 Other salaries and wagesPrograms $387,481 · Management $57,948$445,429
IX-9 Other employee benefitsPrograms $49,523 · Management $13,347$62,870
IX-10 Payroll taxesPrograms $33,075 · Management $4,648$37,723
IX-11b Legal feesManagement $500$500
IX-11c Accounting feesPrograms $23,775 · Management $12,482$36,257
IX-11g Other fees for servicesPrograms $324,836$324,836
IX-16 OccupancyPrograms $176,993$176,993
IX-22 Depreciation, depletion and amortizationPrograms $3,529$3,529
IX-24 Other expenses (24a–d)Programs $241,755 · Management $4,225$245,980
IX-24e All other expensesPrograms $5,828 · Management $5,402$11,230
IX-25 Total functional expensesPrograms $1,246,795 · Management $98,552 · Fundraising $0$1,345,347
Part X · Balance sheet $289,276 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $124,661$219,048
X-4 Accounts receivableStart of year $10,389$34,960
X-9 Prepaid expenses and deferred chargesStart of year $10,460$6,292
X-10c Land, buildings and equipment, netStart of year $0$15,779
X-15 Other assetsStart of year $108,517$13,197
X-16 Total assetsStart of year $254,027$289,276
X-17 Accounts payable and accrued expensesStart of year $42,344$28,176
X-24 Unsecured notes and loans payableStart of year $100,127$50
X-26 Total liabilitiesStart of year $142,471$28,226
X-27 Net assets without donor restrictionsStart of year $111,556$261,050
X-32 Total net assets or fund balancesStart of year $111,556$261,050
X-33 Total liabilities and net assetsStart of year $254,027$289,276
Part XI · Reconciliation of net assets $261,050 net assets at year end
XI-1 Total revenue$1,474,962
XI-2 Total expenses$1,345,347
XI-3 Revenue less expenses$129,615
XI-4 Net assets at start of year$111,556
XI-8 Prior period adjustments$19,879
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$261,050

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

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