South Florida Virtual Charter School Board Inc

Nonprofit profile at a glance

EIN
452846547
IRS 990 coverage
2014–2014
Forms available
Form 990 2014, Form 990-N 2012
Location
Jacksonville, FL, USA
Phone
9547604939
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Charter Schools

Reported finances

Revenue
$1,346,247
Expenses
$1,315,066
Assets
$721,671
Liabilities
$681,861

Source: IRS Form 990. Selected filing: tax year 2014. Amounts in USD.

Leadership & pay

4 people listed

People named in this filing

  • PHILIP E MORGAMAN (CHAIRMAN)
  • SUSAN GOLDSTEIN (TREASURER)
  • GENIZA MADDEN (MEMBER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

It is the mission of Florida virtual academies to provide a high-quality, online public charter school, that

What it reported doing in 2014

It is the mission of Florida virtual academies to provide a high-quality, online public charter school, that will build a community of students, families, educators, and a governing board dedicated to providing a high quality learning environment that will be accountable for developing each student's full potential by utilizing research-based technology applications, meaningful teacher/student/parent involvement, and engaging, individual learning. Our goal is to produce exemplary levels of student achievement, equipping every student with the academic and nonacademic foundations needed for any post-secondary opportunity they wish to pursue.

Operating model

Revenue model
Earned-program. 99% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 100
  • Accountability: 95
  • Sustainability: 31
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86.5%; rating input score 87
  • Program expense ratio: 88.6%; rating input score 89
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Limited
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 2.3%; rating input score 46; 46th percentile among comparable filings
  • Total-asset coverage ratio: 0.55; rating input score 29; 29th percentile among comparable filings
  • Liabilities to assets ratio: 0.94; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 86.5% of revenue deployed · 88.6% of spending went to programs
  • Governance: 4 of 4 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.2M in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 11 of 11 current checks pass
  • Schedules: 3 filed schedules
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Moderate — Sustainability: Operating margin scored 46/100.
  • High — Sustainability: Total-asset coverage ratio scored 29/100.
  • Review — Accountability: Governance controls: Whistleblower policy not reported.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.