2024-05-01T17:36:17-05:00 2023-06-30 760269860 Blazek & Vetterling 2900 Weslayan Suite 200 Houston TX 77027 990 2022-07-01 844633153 IPS Enterprises Inc IPSE 9563778000 2115 West Pike Blvd Weslaco TX 78596 Kathleen Zimmermann Chief Financial Officer 9563778000 2024-05-01 1 Kathleen Zimmermann 999009999 0 Barbara Murphy P01386215 7134395739 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z Jeffrey Cottrill 2115 West Pike Blvd Weslaco TX 78596 107530075 0 X N/A X 2019 TX IPS Enterprises provides public charter school management services to IDEA managed organizations. 10 10 1497 10 0 0 25778501 31452603 53353314 74958205 85 694579 0 0 79131900 107105387 6680508 29986977 0 0 46224400 56128448 0 0 220154 21361531 19455277 74266439 105570702 4865461 1534685 202811414 286946593 200340575 282941069 2470839 4005524 X IPS Enterprises provides grades Pre-K through 12 public charter school management services to IDEA managed organizations. IPS supports these organizations by providing expertise and personnel and by owning and leasing school buildings and equipment. 0 0 97385861 29986977 74958205 See Schedule O 97385861 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 50 0 1 1497 1 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X X James Dworkin 9563778000 2115 West Pike Blvd Weslaco TX 78596 Collin Sewell Chair 2.50 2.50 X X 0 0 0 Ed Rivera Vice-Chair & Treasurer 2.50 2.50 X X 0 0 0 Anthony Ryan Vaughan Secretary 2.50 2.50 X X 0 0 0 Michael Adams Board Member 1.00 1.00 X 0 0 0 Theresa Barrera-Shaw Board Member 1.50 1.50 X 0 0 0 Dr Nanette Cocero Board Member 2.50 2.50 X 0 0 0 David Earl Board Member 1.00 1.00 X 0 0 0 Erich Holmsten Board Member 2.50 2.50 X 0 0 0 Gary Lindgren Board Member 1.50 1.50 X 0 0 0 Reba Cardenas McNair Board Member 1.50 1.50 X 0 0 0 Leanne Hernandez Chief Financial Officer 5.00 35.00 X 0 243915 45926 Layne Fisher Chief Operating Officer 5.00 35.00 X 0 216840 41000 Jeffrey Cottrill Superintendent 5.00 35.00 X 0 201170 5846 Matthew Kyle Executive Dir. - Greater Cincinnati 0.00 40.00 X 198615 0 8281 Adam Miller Executive Director - Florida 0.00 40.00 X 188339 0 16486 Simaran Bakshi Regional VP of Schools - Florida 0.00 40.00 X 162665 0 14725 Dhiyaa-ud-Deen Abdullah Principal - Louisiana 0.00 40.00 X 115551 0 9538 Janet Crenshaw Regional Dir. of Leader Dev - FL 0.00 40.00 X 115057 0 9712 John MacLeod Dir. Fin. Planning & Analysis - FL 0.00 40.00 X 112909 0 11664 Alexander Macaulay Managing Dir. of Reg. Dev. - FL 0.00 40.00 X 107575 0 9335 Bernard Chandler VP of Schools - Louisiana 0.00 40.00 X 146781 0 10552 1147492 661925 183065 22 0 1 0 Certified G Contrs 730 E Strawbridge Ave Ste 100 Melbourne FL 32901 Construction 14689115 Turner Construction Company 375 Hudson St New York NY 10014 Construction 11687821 Park & Eleazer Construction LLC 2363 Gulf to Bay Blvd Clearwater FL 33765 Construction 11508135 Rowe Architects Incorporated 100 E Madison St Ste 200 Tampa FL 33602 Architecture 2493834 Project Mgmt Services Inc 1822 W Braker Ln 81734 Austin TX 78708 Construction 1426391 19 25090976 6361627 255 31452603 Management fees 611600 60146708 60146708 Auxiliary services 611600 14811497 14811497 74958205 215874 215874 426331 426331 477062 424688 52374 52374 52374 107105387 74958205 0 694579 29986977 29986977 531132 487422 41994 1716 45474394 41703398 3631058 139938 852476 743092 93301 16083 6054627 5645773 392939 15915 3215819 2929605 278531 7683 1855717 262828 1554070 38819 113210 113210 35000 35000 111762 111762 1717455 1275048 442407 51298 51298 12924 12924 8646188 8024848 621340 6855123 6270270 584853 56600 56600 105570702 97385861 7964687 220154 3250706 3472027 21239100 6466386 3146102 15863852 3585246 343761 1526971 241516811 11676541 152818973 229840270 960999 23106737 24136877 202811414 286946593 47399642 26140086 434939 49241584 143713947 202592489 3100000 3100000 6126986 1431971 200340575 282941069 X -4388577 -4114206 6859416 8119730 2470839 4005524 202811414 286946593 1534685 0 X 0 1 X 1 0 X X 5 IDEA Public Schools 742948339 2 1 20950992 0 IDEA Public Schools Louisiana Inc 813194334 10 0 20637452 0 IDEA Florida Inc 843519271 2 0 52015640 0 IDEA Greater Cincinnati Inc 853616675 2 0 5111495 0 IDEA Public Schools Arkansas Inc 870936913 2 0 0 0 5 98715579 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 Part IV, Section A, Line 1: The supported organizations that are not designated in the organization's governing documents specifically by name are designated in the governing documents of the organization by class and purpose as "other charter schools and educational organizations located in Texas, Louisiana, Florida, Ohio, and Arkansas". They are supported by the organization in order to (I) promote education by developing school models, educational services, and products for the purposes of replicating the IDEA model, (II) facilitate charter school campus development projects, including design, financing, and leasing the developments, and (III) facilitate the attainment of higher education by providing college tuition assistance in the form of scholarships and grants for charter school graduates. Part I, Line 12g, Column (vi): IPS Enterprises holds bonds issued for campus construction on behalf of IDEA Greater Cincinnati, Inc. and IDEA Florida, Inc. The bond held for IDEA Greater Cincinnati, Inc. was issued in 2021 for a price of $28,100,000. The bond held for IDEA Florida, Inc. was issued in 2022 for a price of $22,600,000. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 30837449 30837449 82034253 9843230 72191023 4369737 1833311 2536426 124275372 124275372 229840270 Due from affiliates 23601877 Deposits 535000 24136877 Due to affiliates 1431971 1431971 X Part X, Line 2: Management has evaluated its material tax positions, which include such matters as the tax exempt status of the school and, if applicable, potential sources of UBI. As of June 30, 2023 and 2022, there were no uncertain tax benefits. No such provision has been made in the accompanying financial statements. 1 IDEA Greater Cincinnati Inc 2700 Glenway Ave Cincinnati OH 45204 853616675 501(c)(3) 5111495 0 Expansion, student recruitment, and general support IDEA Florida Inc c/o IDEA Hope 5050 E 10th Ave Tampa FL 33619 843519271 501(c)(3) 24875482 0 Expansion, student recruitment, and general support 2 0 Part I, Line 2: IPS Enterprises, Inc. only makes grants to its supported organizations. The close relationships among the organizations serves to monitor the use of the funds. 0 0 0 0 0 0 0 1 0 Leanne Hernandez Chief Financial Officer 0 228331 0 14813 0 771 0 40920 0 5006 0 289841 0 0 Layne Fisher Chief Operating Officer 0 201840 0 13000 0 2000 0 41000 0 0 0 257840 0 0 Jeffrey Cottrill Superintendent 0 181022 0 18681 0 1467 0 0 0 5846 0 207016 0 0 Matthew Kyle Executive Dir. - Greater Cincinnati 165815 0 25150 0 7650 0 3413 0 4868 0 206896 0 0 0 Adam Miller Executive Director - Florida 171751 0 15577 0 1011 0 6986 0 9500 0 204825 0 0 0 Simaran Bakshi Regional VP of Schools - Florida 139001 0 22663 0 1001 0 6725 0 8000 0 177390 0 0 0 Bernard Chandler VP of Schools - Louisiana 139364 0 6500 0 917 0 5992 0 4560 0 157333 0 0 0 Part I, Line 3 The officers of IDEA Public Schools also serve as officers of IPS Enterprises, Inc. The officer's compensation is determined by the board of directors of IDEA Public Schools. An independent consultant was contracted to conduct a survey of similar roles in comparable non-profit organizations as defined by the third party's market assessment. Based on the analysis, the board of directors approved contracts for the officers within the identified reasonable total compensation range. Part I, Line 7 IPS Enterprises, Inc. has a performance and recognition program based on attainment of certain criteria. Payments are contingent on active employment and financial health of the organization. A Port of Greater Cin Dev Aut 2021 311752368 73421LAA9 2021-12-17 28100000 Campus construction 0 0 0 B Florida Dev Fin Corp 2022 593270584 34061VAA4 2022-07-28 22600000 Campus construction 0 0 0 A 28256103 1798508 1222545 554593 22481521 2096966 0 0 0 1 B 22870228 448900 12287391 9863710 0 0 0 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 A 0 1 0 0 0 0 0 0 0 B 0 1 0 0 0 0 0 0 0 A 0 B 0 Schedule K, Part II, Column A, Line 3 The $28,256,103 total proceeds of issue include investment proceeds of the issue. Schedule K, Part II, Column B, Line 3 The $22,870,228 total proceeds of issue include investment proceeds of the issue. Form 990, Part III, Line 4a IPS Enterprises provides grades Pre-K through 12 public charter school management services via management services agreements with schools in the IDEA network. Through these services, IPS Enterprises carries out its exempt purposes by developing school models, educational services, and products for the purposes of replicating the IDEA model, facilitating charter school campus development, including designing, financing, and leasing charter school sites, buildings and certain equipment facilitating the attainment of higher education. These activities are properly within the scope of IPS Enterprises' exempt purposes because they are functions that are reasonably and customarily necessary in order for IDEA to operate schools and to expand its network of charter schools both through its own expansion and by working with other educational organizations described in Section 501(c)(3) of the Code. IDEA accomplishes this component of its exempt purposes by and through IPS Enterprises, primarily through various lease and financing arrangements, through Management Services Agreements with the IDEA managed organizations, and through a Shared Services Agreement with IDEA. Pursuant to management arrangements and agreements, IDEA, through IPS Enterprises, makes available its charter school expertise, intellectual property, management and staffing services, charter school buildings, sites, certain equipment and other property and services to the IDEA managed organizations. IDEA Public Schools operates public, tuition-free charter schools in the State of Texas (the "IDEA Schools"). Due to interest in expanding the IDEA curriculum and school concept to states outside of Texas, IDEA formed IDEA Public Schools Louisiana, Inc. (EIN: 81-3194334), IDEA Public Schools NOLA, Inc. (EIN: 82-4598717), IDEA Florida, Inc. (EIN: 84-3519271), IDEA Greater Cincinnati, Inc. (EIN: 85-3616675), and IDEA Public Schools Arkansas, Inc. (EIN: 87-0936913). The IDEA Schools, together with the charter schools operated or to be operated by the IDEA managed organizations, are referred to herein collectively as the "Schools." All of the Schools are or will be public, tuition-free charter schools operated pursuant to charter contracts with the relevant charter-issuing authorities (the "Charter Contracts"). Form 990, Part VI, Section A, line 6 IDEA Public Schools is the Sole Member. Form 990, Part VI, Section A, line 7a IDEA Public Schools, as the Sole Member of the organization, has the power to elect or appoint one or more members of the governing body. Form 990, Part VI, Section A, line 7b IDEA Public Schools, as the Sole Member of the organization, has the power to exercise any and all rights or powers granted to the Sole Member pursuant to the express terms of the Bylaws and the Texas Business Organizations Code (TBOC). The approval or consent of the Sole Member will not be required to authorize the taking of any action by the organization unless, and then only to the extent that: (i) the Bylaws expressly provides therefor; or (ii) such approval or consent is required by non-waivable provisions of the TBOC. The Sole Member has the right to take any action with respect to the organization necessary, in its sole discretion, to protect the Sole Member's status as an exempt entity under section 501(c)(3) of the Code. Form 990, Part VI, Section B, line 11b The finance committee will review the Form 990 prior to filing. Points raised by this review are resolved between key financial personnel, other management personnel (if needed) and the organization's outside tax preparer before filing. In addition, the 990 will be presented and emailed to the Board prior to filing with the IRS. Form 990, Part VI, Section B, line 12c The management and board of IPS Enterprises, Inc. monitor potential conflicts of interest. Form 990, Part VI, Section B, line 15 For Superintendent/CEO compensation, the board of directors of IDEA Public Schools contracted an independent consultant to conduct a survey of Superintendents/CEOs in comparable non-profit organizations as defined by the third party's market assessment. Based on the analysis, the board of directors approved a contract for the Superintendent/CEO within the identified reasonable total remuneration range. For other executives, compensation was determined using a similar process of industry benchmarking based on data aggregated by an independent consultant that specialized in non-profit compensation reports. Form 990, Part VI, Section C, line 19 Audited financial statements are consolidated with IDEA Public Schools financial statements. Therefore, these can be found on IDEA Public Schools website. IPS Cincinnati LLC 2115 West Pike Blvd Weslaco TX 78596 874017522 Support services TX 1175068 30276629 IPS Enterprises Inc IPS Florida LLC 2115 West Pike Blvd Weslaco TX 78596 883404181 Support services TX 154766 31621380 IPS Enterprises Inc IPS Innovation LLC 2115 West Pike Blvd Weslaco TX 78596 207604160 Support services TX 719958 17720887 IPS Enterprises Inc IDEA Public Schools 2115 West Pike Blvd Weslaco TX 78596 742948339 Education TX 501(c)(3) Line 2 N/A 0 IDEA Public Schools Louisiana Inc 804 Main St Baton Rouge LA 70802 813194334 Education LA 501(c)(3) Line 10 N/A 0 IDEA Florida Inc c/o IDEA Hope 5050 E 10th Ave Tampa FL 33619 843519271 Education FL 501(c)(3) Line 2 N/A 0 IDEA Greater Cincinnati Inc 2700 Glenway Ave Cincinnati OH 45204 853616675 Education OH 501(c)(3) Line 2 N/A 0 IDEA Public Schools Arkansas Inc 3350 S Pinnacle Hills Pkwy Ste 301 Rogers AR 72758 870936913 Education AR 501(c)(3) Line 2 N/A 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0