Glades Academy Foundation Inc

EIN: 262475110 501(c)(3) Education

West Palm Beach, FL

Total Revenue
$1,347,450
Total Expenses
$402,158
Total Assets
$4,085,885
Net Assets
$4,085,885
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Financial Trends

Organization Details

Formation Year
2008
Legal Domicile
FL
Principal Officer
Emilia Fanjul
Phone
5613665104
Tax Period
2023-01-01 to 2023-12-31

Glades Academy Foundation Inc, founded in 2008, is a community nonprofit in the Education sector that reported $1.3M in total revenue in fiscal year 2023. Revenue surged 46% from the prior year, signaling strong growth momentum. The organization ran a surplus of $945K, a strong 70% operating margin.

Mission

To promote quality public school education in Florida through contributions to charter schools. To monitor the use of the contributions to assure their use in expanding educational opportunities for the students at such schools. To develop funding sources to expand and enhance this mission. Construct new and augment existing school facilities.

Program Service Accomplishments

Program 1
Expenses: $64,325

Direct support to Glades Academy, Inc. in Pahokee, FL which serves young children from kindergarden through 8th grade and has been in continuous operation since 2000. The funds were used by the...

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Direct support to Glades Academy, Inc. in Pahokee, FL which serves young children from kindergarden through 8th grade and has been in continuous operation since 2000. The funds were used by the school to purchase educational materials, and for the general support of academic programs where money from the school district was not sufficient to support the day to day academic programs needed for a school in this disadvantaged area of Palm Beach County. This elementary and middle school located on the campus of New Hope Charities has state of the art classrooms, learning labs, and other enhanced day and after school programs. At present over 235 students annually receive their academic experience from highly credentialed teachers and school leaders. The school continues to excel in all areas.

Program 2
Expenses: $323,000

Direct support to Everglades Preparatory Academy, Inc. in Pahokee, FL. which was founded to serve and has continuously served high school students since 2001. The funds were used by the school to...

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Direct support to Everglades Preparatory Academy, Inc. in Pahokee, FL. which was founded to serve and has continuously served high school students since 2001. The funds were used by the school to purchase educational materials, and for the general support of academic programs where money from the school district was not sufficient to support the day to day academic programs needed for a school in this disadvantaged area of Palm Beach County. The teachers and staff of Everglades Preparatory Academy serve approximately 120 students annually from the communities near eastern Lake Okeechobee and provide enriched academic support in a safe school setting, which has included community serving summer programs for many years. The Foundation also provides funds for security services provided to the school.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,219,028
Program Service Revenue $0
Investment Income $124,377
Other Revenue $4,045
TOTAL REVENUE $1,347,450

Expense Breakdown

Grants Paid $387,325
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $387,325
Other Expenses $14,833
TOTAL EXPENSES $402,158

Year-over-Year Comparison

2023 2022 Change
Revenue $1,347,450 $920,503 +0.5%
Expenses $402,158 $441,359 -0.1%
Net Income $945,292 $479,144 +1.0%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
6
Independent Members
6
Employees
N/A
Volunteers
N/A

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
2
$0
Total Directors
6
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Emilia Fanjul President Secretary 010.00
Officer Director
$0 $0 $0
Lourdes Fanjul Treasurer 005.00
Officer Director
$0 $0 $0
Alexander Borell Director 001.00
Director
$0 $0 $0
Joseph Galardi Director 001.00
Director
$0 $0 $0
Pauline Pitt Director 001.00
Director
$0 $0 $0
Annette Allen Director 001.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $1,347,450 $402,158 $4,085,885 $945,292
2022 $920,503 $441,359 $3,140,593 $479,144
2021 $706,864 $406,559 $2,661,449 $300,305
2020 $801,745 $964,097 $2,353,300 $-162,352
2019 $950,308 $302,301 $2,509,810 $648,007
2018 $994,043 $516,193 $1,859,318 $477,850
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