Civic Intelligence

Somerset Academy Inc.

990 • Fiscal year 2016 • EIN 31-1569428

Jul 01, 2015 to Jun 30, 2016 • Filed on Mar 16, 2017

Organization ProfileWWW.SOMERSETACADEMYSCHOOLS.COM
6340 Sunset DriveMiami, FL 33143

(305) 669-2906

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

36th percentile

0.21x

Higher debt load relative to assets than 36% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2016

Liabilities / Revenue

12th percentile

0.10x

Higher debt load relative to revenue than 12% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2016

Net Margin

65th percentile

6.9%

Higher net margin than 65% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2016

Top Officer Pay

10th percentile

$187,479

Higher top officer pay than 10% of similar nonprofits.

Top officer pay equals 0.1% of source-year revenue.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2016

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2016

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2016

Balance Sheet
Liabilities / Assets36th percentile

Assets

$68,779,637

No earlier filing loaded for comparison.

Net Assets

$54,580,939

No earlier filing loaded for comparison.

Liabilities

$14,198,698

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue12th percentileNet Margin65th percentile

Revenue

$147,678,429

No earlier filing loaded for comparison.

Expenses

$137,534,208

No earlier filing loaded for comparison.

Net Income

$10,144,221

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$800M$600M$400M$200M$0Assets 2016: $68,779,637Liabilities 2016: $14,198,698Net Assets 2016: $54,580,9392016Assets 2017: $79,316,937Liabilities 2017: $15,470,090Net Assets 2017: $63,846,8472017Assets 2018: $112,671,568Liabilities 2018: $38,705,398Net Assets 2018: $73,966,1702018Assets 2019: $147,831,589Liabilities 2019: $73,188,181Net Assets 2019: $74,643,4082019Assets 2020: $154,096,220Liabilities 2020: $77,201,220Net Assets 2020: $76,895,0002020Assets 2021: $197,106,992Liabilities 2021: $93,307,762Net Assets 2021: $103,799,2302021Assets 2022: $514,166,798Liabilities 2022: $409,963,720Net Assets 2022: $104,203,0782022Assets 2023: $546,057,670Liabilities 2023: $424,978,816Net Assets 2023: $121,078,8542023Assets 2024: $640,918,206Liabilities 2024: $400,076,689Net Assets 2024: $240,841,5172024

Highlighted filing

2016

Assets$68,779,637
Liabilities$14,198,698
Net Assets$54,580,939
Open 2016 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600M$400M$200M$0Revenue 2016: $147,678,429Expenses 2016: $137,534,208Net Income 2016: $10,144,2212016Revenue 2017: $159,670,507Expenses 2017: $150,404,599Net Income 2017: $9,265,9082017Revenue 2018: $195,358,388Expenses 2018: $185,653,647Net Income 2018: $9,704,7412018Revenue 2019: $224,877,351Expenses 2019: $224,200,113Net Income 2019: $677,2382019Revenue 2020: $251,355,560Expenses 2020: $249,353,491Net Income 2020: $2,002,0692020Revenue 2021: $293,901,770Expenses 2021: $266,814,660Net Income 2021: $27,087,1102021Revenue 2022: $324,310,430Expenses 2022: $320,728,209Net Income 2022: $3,582,2212022Revenue 2023: $372,140,972Expenses 2023: $355,265,196Net Income 2023: $16,875,7762023Revenue 2024: $498,370,221Expenses 2024: $378,607,558Net Income 2024: $119,762,6632024

Highlighted filing

2016

Revenue$147,678,429
Expenses$137,534,208
Net Income$10,144,221
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Mar 16, 2017
Return Version
2015v3.0
Gross Receipts
$153,990,848
Mission and Program Overview

Mission

Established as charter school operator in district school boards of miami-dade, broward county, palm beach county, duval county, st. Lucie county, and texas state board of education. Somerset academy, inc. Is dedicated to providing equitable, high-quality education for all students, and promotes a culture that maximizes student achievement and fosters the development of accountable, 21st century learners in a safe and enriching environment.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$32,044,178$40,637,909▲ $8,593,731
Land, Buildings, and Equipment, Net$20,161,299$23,394,681▲ $3,233,382
Prepaid Expenses and Deferred Charges$3,233,014$2,364,953▼ $868,061
Accounts Receivable$300,133$125,218▼ $174,915
Total Assets$57,122,622$68,779,637▲ $11,657,015
Other Assets Total$1,383,998$2,256,876▲ $872,878
Liabilities
Accounts Payable and Accrued Expenses$5,102,474$5,945,651▲ $843,177
Other Liabilities$4,185,942$4,605,892▲ $419,950
Mortgage Notes Payable Secured by Investment Property$3,376,528$3,647,155▲ $270,627
Deferred Revenue$20,960--
Total Liabilities$12,685,904$14,198,698▲ $1,512,794
Net Assets / Fund Balance
Unrestricted Net Assets$41,740,489$50,909,662▲ $9,169,173
Temporarily Rstr Net Assets$2,696,229$3,671,277▲ $975,048
Total Net Assets Fund Balance$44,436,718$54,580,939▲ $10,144,221
Total Liabilities and Net Assets / Fund Balance$57,122,622$68,779,637▲ $11,657,015

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$7,274,485$18,322,174$25,596,659
Buildings$11,962,962$6,945,496$18,378,073
Equipment$3,958,827$5,658,316$9,617,143
Leasehold Improvements$120,221$71,162$191,383
Land$78,186-$78,186
Compensation and Service Providers
Top Officer Pay10th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Bernardo MonteroPresidentFT$187,479$187,479
Kim GuilarteEmployeeFT$153,647$153,647
Kerri Ann RodriguezEmployeeFT$146,495$146,495
Suzette RuizVice-presidentFT$139,896$139,896
Donyale McgheeEmployeeFT$120,708$120,708
Daniel FernandezEmployeeFT$118,938$118,938
Athena GuillenEmployeeFT$118,600$118,600
Alexandra PrietoEmployeeFT$116,859$116,859
Idalia SuarezEmployeeFT$106,232$106,232
Alina LopezEmployeeFT$105,400$105,400
Dr Cristina Cruz-ortizEmployeeFT$100,563$100,563
Shannine SadeskyEmployeeFT$100,326$100,326

Board Members and Trustees

NameTitle
Lourdes IslaDirector,chairman
David ConcepcionDirector
George OzunaDirector
Jennifer EsquijarosaDirector
Louis MarinDirector
Tony MoralesDirector
Ana DiazDirector, Secretary
Todd GermanTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Adp Total SourceEmployee Leasing10200 SW SUNSET DRIVE, Miami, FL 33173$60,220,600
Academica Broward LLCEducational Support Provider6340 SUNSET DRIVE, Miami, FL 33143$4,708,988
Academica Dade LLCEducational Support Provider6340 SUNSET DRIVE, Miami, FL 33143$2,496,788
Adp LLCEquipment LeasingPO BOX 842875, Boston, MA 02284$1,847,153
Southwestern Grant LLCFacility Rental6340 SUNSET DRIVE, Miami, FL 33143$1,554,891
Revenue and Support

Revenue Composition

Contributions and Grants
$140,353,126
Program Service Revenue
$6,358,827
Investment Income
$26,839
Other Revenue
$939,637
All Other Contributions
$253,500
Change in Net Assets
$10,144,221

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Other Non Cash Contri Table21$2,337,918
Total Noncash Contributions21$2,337,918

Audited Revenue Reconciliation

Revenue per Audited Statements
$147,678,429
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$119,200
Total Revenue per Audited Statements
$147,797,629
Total Revenue per Form 990
$147,678,429
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$71,094,980
Other Expenses$66,439,228
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$49,745,108$10,682,155-$60,427,263
Occupancy$21,372,892$16,744-$21,389,636
All Other Expenses$11,301,275$460,191-$11,761,466
Other Employee Benefits$8,279,514$1,722,116-$10,001,630
Fees for Services Management$4,987,305$2,482,588-$7,469,893
Depreciation Depletion$5,628,918$13,711-$5,642,629
Fees for Services Other$2,147,383$1,312,140-$3,459,523
Other Expenses$186,132$2,688,709-$2,874,841
Insurance$1,170,091$35,296-$1,205,387
Fees for Services Accounting-$572,000-$572,000
Pension Plan Contributions$471,288$81,404-$552,692
Travel$342,248$69,868-$412,116
Fees for Services Legal$7,648$276,292-$283,940
Interest$269,520$874-$270,394
Payroll Taxes$113,395--$113,395
Total Functional Expenses$117,119,245$20,414,963$0$137,534,208

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$137,653,408
Expenses per Audited Statements$137,534,208
Total Expenses per Form 990$137,534,208
Expenses Not Reported on Form 990$119,200
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$6,363,226
Fundraising Direct Expenses$6,312,419
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Various Fundraising Events$6,363,226$6,363,226$6,312,419$50,807
Total Events$6,363,226$6,363,226$6,312,419$50,807
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Rent Payable$4,503,019
Due to Other Schools$102,873
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“Academica dade llc, academica broward llc,and academica southwest llc, educational service and support provider companies, provide professional services and related support to public charter schools, including, but not limited to, academic support, facility development and compliance, human resource and payroll coordination, regulatory compliance, legal and corporate upkeep, bookkeeping and accounting, budgeting, and financial reporting.”

Form 990, Part VI, Section B, Line 11

“The organization reviews the contents of the form 990 before submitting to internal revenue service.”

Form 990, Part VI, Section B, Line 12C

“The organization requires that all officers and/or directors disclose any activity that may be a conflict of interest.”

Form 990, Part VI, Section B, Line 15

“During the determination of compensation of officers or key employees, the organization reviews the officer's contract, budget, and performance.”

Form 990, Part VI, Section C, Line 18

“This information is already available to the public via www.guidestar.org.”

Form 990, Part VI, Section C, Line 19

“This information is available upon request.”

Filing and Contact Details

Filer

Filer Name
Somerset Academy Inc
EIN
31-1569428
Phone
3056692906
Address
6340 SUNSET DRIVE, MIAMI, FL 33143

Signing Officer

Name
Ana Maria Martinez
Title
Authorized Representative
Phone
3056692906
Signed
2017-03-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bernardo Montero
Formed
1997
Legal Domicile
Fl
Voting Board Members
10
Independent Board Members
10
Employees
2,386
Volunteers
5,990

Preparer

Firm
Hlb Gravier Llp
Address
396 ALHAMBRA CIRCLE SUITE 900, CORAL GABLES, FL 33134-5095
Preparer
Leonardo D Gravier
Phone
3054463022
Supplemental Narrative

Additional Explanations

Section 1.263(A)-1(F) De Minimis Safe Habor Election

“Somerset academy inc 6340 sunset drive miami, fl 33143 ein:31-1569428 for the year ending june 30, 2016 somerset academy inc is making the minimis safe habor election under reg.sec.1.263(a)-1(f).”

Section 1.263(A)-1(N) Election

“Somerset academy inc 6340 sunset drive miami, fl 33143 ein:31-1569428 for the year ending june 30, 2016 somerset academy inc is electing to capitalize repairs and maintenance costs under reg.sec.1.263(a)-1(n).”

Financial Statement Notes

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“For tax purposes $119,200 of direct fundraising expenses were reflected as a decrease in revenues, however the organization's audited financial statements reflect this amount as an expense.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“For tax purposes $119,200 of direct fundraising expenses were reflected as a decrease in revenues, however the organization's audited financial statements reflect this amount as an expense.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDesc0ESTABLISHED AS CHARTER SCHOOL OPERATOR IN DISTRICT SCHOOL BOARDS OF MIAMI-DADE, BROWARD COUNTY, PALM BEACH COUNTY, DUVAL COUNTY, ST. LUCIE COUNTY, AND TEXAS STATE BOARD OF EDUCATION. SOMERSET ACADEMY, INC. IS DEDICATED TO PROVIDING EQUITABLE, HIGH-QUALITY EDUCATION FOR ALL STUDENTS, AND PROMOTES A CULTURE THAT MAXIMIZES STUDENT ACHIEVEMENT AND FOSTERS THE DEVELOPMENT OF ACCOUNTABLE, 21ST CENTURY LEARNERS IN A SAFE AND ENRICHING ENVIRONMENT.
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt100
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt110
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt120
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt130
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt150
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt160
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt170
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt180
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt190
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IRS990/Form990PartVIISectionAGrp/PersonNm1TODD GERMAN
IRS990/Form990PartVIISectionAGrp/PersonNm2LOUIS MARIN
IRS990/Form990PartVIISectionAGrp/PersonNm3DAVID CONCEPCION
IRS990/Form990PartVIISectionAGrp/PersonNm4ANA DIAZ
IRS990/Form990PartVIISectionAGrp/PersonNm5TONY MORALES
IRS990/Form990PartVIISectionAGrp/PersonNm6BERNARDO MONTERO
IRS990/Form990PartVIISectionAGrp/PersonNm7JENNIFER ESQUIJAROSA
IRS990/Form990PartVIISectionAGrp/PersonNm8SUZETTE RUIZ
IRS990/Form990PartVIISectionAGrp/PersonNm9GEORGE OZUNA
IRS990/Form990PartVIISectionAGrp/PersonNm10KIM GUILARTE
IRS990/Form990PartVIISectionAGrp/PersonNm11DANIEL FERNANDEZ
IRS990/Form990PartVIISectionAGrp/PersonNm12ATHENA GUILLEN
IRS990/Form990PartVIISectionAGrp/PersonNm13ALEXANDRA PRIETO
IRS990/Form990PartVIISectionAGrp/PersonNm14IDALIA SUAREZ
IRS990/Form990PartVIISectionAGrp/PersonNm15KERRI ANN RODRIGUEZ
IRS990/Form990PartVIISectionAGrp/PersonNm16DR CRISTINA CRUZ-ORTIZ
IRS990/Form990PartVIISectionAGrp/PersonNm17DONYALE MCGHEE
IRS990/Form990PartVIISectionAGrp/PersonNm18SHANNINE SADESKY
IRS990/Form990PartVIISectionAGrp/PersonNm19ALINA LOPEZ
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt6187479
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt8139896
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10153647
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt11118938
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt12118600
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt13116859
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt14106232
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt15146495
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt16100563
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt17120708
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt18100326
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt150
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt160
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt170
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt180
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt190
IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR,CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt1TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR, SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8VICE-PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10EMPLOYEE
IRS990/Form990PartVIISectionAGrp/TitleTxt11EMPLOYEE
IRS990/Form990PartVIISectionAGrp/TitleTxt12EMPLOYEE
IRS990/Form990PartVIISectionAGrp/TitleTxt13EMPLOYEE
IRS990/Form990PartVIISectionAGrp/TitleTxt14EMPLOYEE
IRS990/Form990PartVIISectionAGrp/TitleTxt15EMPLOYEE
IRS990/Form990PartVIISectionAGrp/TitleTxt16EMPLOYEE
IRS990/Form990PartVIISectionAGrp/TitleTxt17EMPLOYEE
IRS990/Form990PartVIISectionAGrp/TitleTxt18EMPLOYEE
IRS990/Form990PartVIISectionAGrp/TitleTxt19EMPLOYEE
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01997
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/ConsolAndSepBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd01
IRS990/FundraisingDirectExpensesAmt06312419
IRS990/FundraisingGrossIncomeAmt06363226
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt010
IRS990/GovernmentGrantsAmt0140099626
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt0153990848
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt010
IRS990/IndivRcvdGreaterThan100KCnt012
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InsuranceGrp/ManagementAndGeneralAmt035296
IRS990/InsuranceGrp/ProgramServicesAmt01170091
IRS990/InsuranceGrp/TotalAmt01205387
IRS990/InterestGrp/ManagementAndGeneralAmt0874
IRS990/InterestGrp/ProgramServicesAmt0269520
IRS990/InterestGrp/TotalAmt0270394
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt026839
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt026839
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt0113
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt030997148
IRS990/LandBldgEquipBasisNetGrp/BOYAmt020161299
IRS990/LandBldgEquipBasisNetGrp/EOYAmt023394681
IRS990/LandBldgEquipCostOrOtherBssAmt054391829
IRS990/LegalDomicileStateCd0FL
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingOtherInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MiscellaneousRevenueGrp/RelatedOrExemptFuncIncomeAmt0190884
IRS990/MiscellaneousRevenueGrp/TotalRevenueColumnAmt0190884
IRS990/MissionDesc0ESTABLISHED AS CHARTER SCHOOL OPERATOR IN DISTRICT SCHOOL BOARDS OF MIAMI-DADE, BROWARD COUNTY, PALM BEACH COUNTY, DUVAL COUNTY, ST. LUCIE COUNTY, AND TEXAS STATE BOARD OF EDUCATION. SOMERSET ACADEMY, INC. IS DEDICATED TO PROVIDING EQUITABLE, HIGH-QUALITY EDUCATION FOR ALL STUDENTS, AND PROMOTES A CULTURE THAT MAXIMIZES STUDENT ACHIEVEMENT AND FOSTERS THE DEVELOPMENT OF ACCOUNTABLE, 21ST CENTURY LEARNERS IN A SAFE AND ENRICHING ENVIRONMENT.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt03376528
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt03647155
IRS990/NetAssetsOrFundBalancesBOYAmt044436718
IRS990/NetAssetsOrFundBalancesEOYAmt054580939
IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt050807
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt050807
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoncashContributionsAmt02337918
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt016744
IRS990/OccupancyGrp/ProgramServicesAmt021372892
IRS990/OccupancyGrp/TotalAmt021389636
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt01383998
IRS990/OtherAssetsTotalGrp/EOYAmt02256876
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt01722116
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt08279514
IRS990/OtherEmployeeBenefitsGrp/TotalAmt010001630
IRS990/OtherExpensesGrp/Desc0STUDENT LUNCH EXPENSES
IRS990/OtherExpensesGrp/Desc1AFTERCARE EXPENSES
IRS990/OtherExpensesGrp/Desc2REPAIRS & MAINTENANCE
IRS990/OtherExpensesGrp/Desc3ADMINISTRATIVE FEE
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0875
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt12688709
IRS990/OtherExpensesGrp/ProgramServicesAmt04273298
IRS990/OtherExpensesGrp/ProgramServicesAmt13592667
IRS990/OtherExpensesGrp/ProgramServicesAmt23230563
IRS990/OtherExpensesGrp/ProgramServicesAmt3186132
IRS990/OtherExpensesGrp/TotalAmt04273298
IRS990/OtherExpensesGrp/TotalAmt13592667
IRS990/OtherExpensesGrp/TotalAmt23231438
IRS990/OtherExpensesGrp/TotalAmt32874841
IRS990/OtherLiabilitiesGrp/BOYAmt04185942
IRS990/OtherLiabilitiesGrp/EOYAmt04605892
IRS990/OtherRevenueMiscGrp/BusinessCd0611710
IRS990/OtherRevenueMiscGrp/BusinessCd1611710
IRS990/OtherRevenueMiscGrp/BusinessCd2611710
IRS990/OtherRevenueMiscGrp/Desc0AFFILIATION FEES
IRS990/OtherRevenueMiscGrp/Desc1OTHER INCOME
IRS990/OtherRevenueMiscGrp/Desc2E RATE REBATE
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IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt1251164
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt2187764
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0259018
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt1251164
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt2187764
IRS990/OtherRevenueTotalAmt0888830
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt010682155
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt049745108
IRS990/OtherSalariesAndWagesGrp/TotalAmt060427263
IRS990/OtherWebsiteInd0X
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IRS990/PayrollTaxesGrp/ProgramServicesAmt0113395
IRS990/PayrollTaxesGrp/TotalAmt0113395
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt081404
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0471288
IRS990/PensionPlanContributionsGrp/TotalAmt0552692
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt03233014
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt02364953
IRS990/PrincipalOfficerNm0BERNARDO MONTERO
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/BusinessCd1611710
IRS990/ProgramServiceRevenueGrp/BusinessCd2611710
IRS990/ProgramServiceRevenueGrp/BusinessCd3611710
IRS990/ProgramServiceRevenueGrp/BusinessCd4611710
IRS990/ProgramServiceRevenueGrp/Desc0AFTER SCHOOL INCOME
IRS990/ProgramServiceRevenueGrp/Desc1INSTRUCTION SERVICES
IRS990/ProgramServiceRevenueGrp/Desc2LUNCH FEES
IRS990/ProgramServiceRevenueGrp/Desc3FACILITY USAGE INCOME
IRS990/ProgramServiceRevenueGrp/Desc4COMMUNITY SERVICES INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt03647989
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11075266
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt21035486
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt3310960
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt4279027
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt03647989
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11075266
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt21035486
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3310960

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$68,779,637
Liabilities
$14,198,698
Net assets
$54,580,939
Revenue
$147,678,429
Expenses
$137,534,208
Net income
$10,144,221
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$641$400$241$498$379$120
2023Detailed filing. Detailed filing data is available for this year.$546$425$121$372$355$16.9
2022Detailed filing. Detailed filing data is available for this year.$514$410$104$324$321$3.58
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$197$93.3$104$294$267$27.1
2020Detailed filing. Detailed filing data is available for this year.$154$77.2$76.9$251$249$2.00
2019Detailed filing. Detailed filing data is available for this year.$148$73.2$74.6$225$224$0.68
2018Detailed filing. Detailed filing data is available for this year.$113$38.7$74.0$195$186$9.70
2017Detailed filing. Detailed filing data is available for this year.$79.3$15.5$63.8$160$150$9.27
2016Detailed filing. Detailed filing data is available for this year.$68.8$14.2$54.6$148$138$10.1