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← ACADEMY OF SPECTRUM DIVERSITY INC

Form 990 for tax year 2023

Filed by ACADEMY OF SPECTRUM DIVERSITY INC.

Totals

Total revenue
$636,999
Total expenses
$688,871
Contributions and grants received
$27,345
Grants paid
$0
Program service revenue
$607,181
Investment income
$410
Other revenue
$2,063
Total assets, end of year
$1,456,039
Total liabilities, end of year
$907,405
Net assets or fund balances, end of year
$548,634
Program services expenses (Part IX)
$688,871
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$688,871

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $27,345

  • 2a · Program service revenue: SCHOOL FEES

    total $607,181 · related or exempt $607,181

  • 3 · Investment income

    total $410 · related or exempt $410

  • 8a · Fundraising events: gross income

    $2,758

  • 8b · Fundraising events: direct expenses

    $695

  • 8c · Net income from fundraising events

    total $2,063

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $161,929 · program services $161,929

  • 7 · Other salaries and wages

    total $205,543 · program services $205,543

  • 9 · Other employee benefits

    total $3,044 · program services $3,044

  • 10 · Payroll taxes

    total $36,605 · program services $36,605

  • 11b · Fees: legal

    total $4,486 · program services $4,486

  • 11c · Fees: accounting

    total $8,172 · program services $8,172

  • 13 · Office expenses

    total $17,856 · program services $17,856

  • 16 · Occupancy

    total $53,099 · program services $53,099

  • 17 · Travel

    total $4,580 · program services $4,580

  • 20 · Interest

    total $46,031 · program services $46,031

  • 22 · Depreciation, depletion and amortization

    total $37,076 · program services $37,076

  • 23 · Insurance

    total $30,703 · program services $30,703

  • 24a · Other expenses: SPECIAL EVENTS

    total $16,017 · program services $16,017

  • 24b · Other expenses: CAR & TRUCK

    total $14,373 · program services $14,373

  • 24c · Other expenses: MEALS

    total $11,864 · program services $11,864

  • 24d · Other expenses: TRAINING

    total $9,474 · program services $9,474

  • 24e · All other expenses

    total $28,019 · program services $28,019

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $336,716 · end of year $344,187

  • 10a · Land, buildings and equipment: cost or other basis

    $1,264,860

  • 10b · Land, buildings and equipment: accumulated depreciation

    $156,375

  • 10c · Land, buildings and equipment, net

    beginning of year $648,606 · end of year $1,108,485

  • 14 · Intangible assets

    end of year $2,687

  • 15 · Other assets

    beginning of year $680 · end of year $680

  • 25 · Other liabilities

    beginning of year $385,496 · end of year $907,405

  • 31 · Retained earnings, endowment or other funds

    beginning of year $600,506 · end of year $548,634

Mission and programs · 2023

Mission

TO CREATE A SCHOOL ENVIRONMENT WHERE ALL STUDENTS AND THEIR FAMILIES FEEL WELCOME AND ACCEPTED. TO FOSTER THE FEELING OF INCLUSION AND COMMUNITY WITHIN THE SCHOOL. TO MAKE STUDENTS DREAM MORE, DO MORE, AND BECOME MORE THAN ANYONE EVER THOUGHT THEY COULD, INCLUDING THEMSELVES.

  • THE ACADEMY OF SPECTRUM DIVERSITY SERVES OVER 50 SPECIAL NEEDS STUDENTS WITH A WAITING LIST FOR ENROLLMENT OF APPROXIMATELY 75 STUDENTS. 92% PERCENT OF OUR STUDENT BODY HAS INCREASED THEIR ASSESSMENT TEST SCORES FROM THE FIRST ENROLLMENT PERIOD ASSESSMENT. 100% OF OUR STUDENTS ATTEND OUR SCHOOL THROUGH THE SCHOOL CHOICE INITIATIVE THAT PROVIDES PARTIAL/FULL TUITION ASSISTANCE THROUGH VARIOUS OUTLETS. OUR SCHOOL HAS BEEN AWARDED THE LEADERSHIP AWARD FOR THE LAST 4 YEARS IN A ROW FROM THE FLORIDA SCHOOL CHOICE OFFICE.

    Expenses $688,871

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • June Caruso

    PRESIDENT

    Total calculated
    $0

  • Tammy Dester

    SECRETARY

    Total calculated
    $0

  • Rachel Lare

    TREASURER

    Total calculated
    $0

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
20 August 2024
IRS schema version
2023v5.0
Source object
202402999349301405

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