Civic Intelligence

Somerset Academy Inc.

990 • Fiscal year 2017 • EIN 31-1569428

Jul 01, 2016 to Jun 30, 2017 • Filed on Mar 21, 2018

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

0.20x

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

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Liabilities / Revenue

13th percentile

0.10x

Higher debt load relative to revenue than 13% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Net Margin

58th percentile

5.8%

Higher net margin than 58% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Top Officer Pay

11th percentile

$190,689

Higher top officer pay than 11% of similar nonprofits.

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

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Asset Growth

81st percentile

15%

Faster asset growth than 81% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2016 to 2017

Revenue Growth

60th percentile

8.1%

Faster revenue growth than 60% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets36th percentile

Assets

Up

$79,316,937

Up $10,537,300 (+15%) from 2016

Net Assets

Up

$63,846,847

Up $9,265,908 (+17%) from 2016

Liabilities

Up

$15,470,090

Up $1,271,392 (+9.0%) from 2016

Revenue And Expenses
Liabilities / Revenue13th percentileNet Margin58th percentile

Revenue

Up

$159,670,507

Up $11,992,078 (+8.1%) from 2016

Expenses

Up

$150,404,599

Up $12,870,391 (+9.4%) from 2016

Net Income

Down

$9,265,908

Down $878,313 (-8.7%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth81st percentile

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

2017

Assets$79,316,937
Liabilities$15,470,090
Net Assets$63,846,847
Open 2017 Filing

Operations Trend

Revenue Growth60th percentile

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

2017

Revenue$159,670,507
Expenses$150,404,599
Net Income$9,265,908
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Mar 21, 2018
Return Version
2016v3.0
Gross Receipts
$164,267,848
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$40,637,909$44,725,561▲ $4,087,652
Land, Buildings, and Equipment, Net$23,394,681$28,077,192▲ $4,682,511
Prepaid Expenses and Deferred Charges$2,364,953$3,138,404▲ $773,451
Accounts Receivable$125,218$55,747▼ $69,471
Total Assets$68,779,637$79,316,937▲ $10,537,300
Other Assets Total$2,256,876$3,320,033▲ $1,063,157
Liabilities
Accounts Payable and Accrued Expenses$5,945,651$6,155,220▲ $209,569
Other Liabilities$4,605,892$5,371,085▲ $765,193
Mortgage Notes Payable Secured by Investment Property$3,647,155$3,943,785▲ $296,630
Total Liabilities$14,198,698$15,470,090▲ $1,271,392
Net Assets / Fund Balance
Unrestricted Net Assets$50,909,662$59,302,542▲ $8,392,880
Temporarily Rstr Net Assets$3,671,277$4,544,305▲ $873,028
Total Net Assets Fund Balance$54,580,939$63,846,847▲ $9,265,908
Total Liabilities and Net Assets / Fund Balance$68,779,637$79,316,937▲ $10,537,300

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$6,948,481$21,359,374$28,307,855
Buildings$13,138,960$8,381,094$20,053,303
Equipment$3,353,925$7,091,403$10,445,328
Land$4,406,346-$4,406,346
Leasehold Improvements$229,480-$229,480
Compensation and Service Providers
Top Officer Pay11th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Bernardo MonteroPresidentFT$190,689$190,689
Kim GuilarteEmployeeFT$156,460$156,460
Suzette RuizVice-presidentFT$154,528$154,528
Kerri Ann RodriguezEmployeeFT$150,472$150,472
Alexandra PrietoEmployeeFT$120,918$120,918
Donyale McgeeEmployeeFT$120,670$120,670
David CookEmployeeFT$117,136$117,136
Athena GuillenEmployeeFT$116,772$116,772
Bonnie MayEmployeeFT$114,377$114,377
Idalia SuarezEmployeeFT$112,444$112,444
Alina LopezEmployeeFT$109,051$109,051
Donna KayeEmployeeFT$102,011$102,011

Board Members and Trustees

NameTitle
Louis MarinChair,director
Lourdes IslaDirector,chairman
Todd GermanVice-chair,treasurer
David ConcepcionDirector
George OzunaDirector
Jennifer EsquijarosaDirector
Tony MoralesDirector
Ana DiazDirector, Secretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Adp Total SourceEmployee Leasing10200 SW SUNSET DRIVE, Miami, FL 33173$64,904,901
Academica Broward LLCEducational Support Provider6340 SUNSET DRIVE, Miami, FL 33143$4,742,850
Academica Dade LLCEducational Support Provider6340 SUNSET DRIVE, Miami, FL 33143$2,982,075
Boynton School Property LLCManagement6457 SUNSET DRIVE, Miami, FL 33143$1,877,207
Cheney Bros INCCatering ServicesONE CHENEY WAY, Riviera Beach, FL 33404$1,853,611
Revenue and Support

Revenue Composition

Contributions and Grants
$150,527,132
Program Service Revenue
$7,833,555
Investment Income
$155,752
Other Revenue
$1,154,068
All Other Contributions
$647,618
Change in Net Assets
$9,265,908

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 Table1$51,975
Total Noncash Contributions1$51,975

Audited Revenue Reconciliation

Revenue per Audited Statements
$159,670,507
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$49,255
Total Revenue per Audited Statements
$159,719,762
Total Revenue per Form 990
$159,670,507
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$77,631,694
Other Expenses$72,669,405
Grants and Similar Amounts Paid$103,500
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$57,064,477$8,807,322-$65,871,799
Occupancy$23,852,015$21,597-$23,873,612
All Other Expenses$9,466,499$3,307,010-$12,773,509
Other Employee Benefits$8,802,990$1,957,118-$10,760,108
Fees for Services Management$5,047,014$2,518,950-$7,565,964
Depreciation Depletion$5,899,003$13,473-$5,912,476
Fees for Services Other$2,470,638$1,793,198-$4,263,836
Other Expenses$2,345,172$309,920-$2,655,092
Insurance$1,395,040$49,976-$1,445,016
Pension Plan Contributions$733,039$144,465-$877,504
Travel$479,612$101,989-$581,601
Fees for Services Accounting$34$579,375-$579,409
Fees for Services Legal$26,657$444,066-$470,723
Interest$281,358$668-$282,026
Information Technology-$218,272-$218,272
Payroll Taxes$122,283--$122,283
Grants to Domestic Orgs$103,500--$103,500
Office Expenses$21,728--$21,728
Total Functional Expenses$130,111,042$20,293,557$0$150,404,599

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$150,453,854
Expenses per Audited Statements$150,404,599
Total Expenses per Form 990$150,404,599
Expenses Not Reported on Form 990$49,255
Expenses Not Reported on Financial Statements$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Mater Academy IncMiami, FL501(c)3To Support Education$103,500
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$5,160,232
Fundraising Direct Expenses$4,597,341
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Various Fundraising Events$5,160,232$5,160,232$4,597,341$562,891
Total Events$5,160,232$5,160,232$4,597,341$562,891
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$5,345,614
Due to Students & Clubs$25,471
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 11B

“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 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
2018-03-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bernardo Montero
Formed
1997
Legal Domicile
Fl
Voting Board Members
8
Independent Board Members
8
Employees
2,495
Volunteers
6,125

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, 2017 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, 2017 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 $49,255 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 $49,255 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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IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt100
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt110
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt120
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt130
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt140
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt150
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt160
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt170
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt180
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt190
IRS990/Form990PartVIISectionAGrp/PersonNm0LOURDES ISLA
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/PersonNm10ATHENA GUILLEN
IRS990/Form990PartVIISectionAGrp/PersonNm11ALEXANDRA PRIETO
IRS990/Form990PartVIISectionAGrp/PersonNm12IDALIA SUAREZ
IRS990/Form990PartVIISectionAGrp/PersonNm13KERRI ANN RODRIGUEZ
IRS990/Form990PartVIISectionAGrp/PersonNm14KIM GUILARTE
IRS990/Form990PartVIISectionAGrp/PersonNm15DONYALE MCGEE
IRS990/Form990PartVIISectionAGrp/PersonNm16ALINA LOPEZ
IRS990/Form990PartVIISectionAGrp/PersonNm17BONNIE MAY
IRS990/Form990PartVIISectionAGrp/PersonNm18DAVID COOK
IRS990/Form990PartVIISectionAGrp/PersonNm19DONNA KAYE
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt6190689
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt8154528
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10116772
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt11120918
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt12112444
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt13150472
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt14156460
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt15120670
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt16109051
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt17114377
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt19102011
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt150
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt160
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt170
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt180
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt190
IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR,CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE-CHAIR,TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt2CHAIR,DIRECTOR
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/FundraisingDirectExpensesAmt04597341
IRS990/FundraisingGrossIncomeAmt05160232
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt08
IRS990/GovernmentGrantsAmt0149879514
IRS990/GrantAmt0103500
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt0103500
IRS990/GrantsToDomesticOrgsGrp/TotalAmt0103500
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
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IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt08
IRS990/IndivRcvdGreaterThan100KCnt012
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt0218272
IRS990/InformationTechnologyGrp/TotalAmt0218272
IRS990/InsuranceGrp/ManagementAndGeneralAmt049976
IRS990/InsuranceGrp/ProgramServicesAmt01395040
IRS990/InsuranceGrp/TotalAmt01445016
IRS990/InterestGrp/ManagementAndGeneralAmt0668
IRS990/InterestGrp/ProgramServicesAmt0281358
IRS990/InterestGrp/TotalAmt0282026
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IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0155752
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt0148
IRS990/IRPDocumentW2GCnt00
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IRS990/LandBldgEquipBasisNetGrp/EOYAmt028077192
IRS990/LandBldgEquipCostOrOtherBssAmt064909063
IRS990/LegalDomicileStateCd0FL
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingOtherInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MiscellaneousRevenueGrp/RelatedOrExemptFuncIncomeAmt05231
IRS990/MiscellaneousRevenueGrp/TotalRevenueColumnAmt05231
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/BOYAmt03647155
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt03943785
IRS990/NetAssetsOrFundBalancesBOYAmt054580939
IRS990/NetAssetsOrFundBalancesEOYAmt063846847
IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt0562891
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt0562891
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoncashContributionsAmt051975
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt021597
IRS990/OccupancyGrp/ProgramServicesAmt023852015
IRS990/OccupancyGrp/TotalAmt023873612
IRS990/OfficeExpensesGrp/ProgramServicesAmt021728
IRS990/OfficeExpensesGrp/TotalAmt021728
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt02256876
IRS990/OtherAssetsTotalGrp/EOYAmt03320033
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt01957118
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt08802990
IRS990/OtherEmployeeBenefitsGrp/TotalAmt010760108
IRS990/OtherExpensesGrp/Desc0STUDENT LUNCH EXPENSES
IRS990/OtherExpensesGrp/Desc1AFTERCARE EXPENSES
IRS990/OtherExpensesGrp/Desc2REPAIRS & MAINTENANCE
IRS990/OtherExpensesGrp/Desc3SUPPLIES
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt13976
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt215049
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt3309920
IRS990/OtherExpensesGrp/ProgramServicesAmt04421067
IRS990/OtherExpensesGrp/ProgramServicesAmt13945508
IRS990/OtherExpensesGrp/ProgramServicesAmt23633408
IRS990/OtherExpensesGrp/ProgramServicesAmt32345172
IRS990/OtherExpensesGrp/TotalAmt04428200
IRS990/OtherExpensesGrp/TotalAmt13949484
IRS990/OtherExpensesGrp/TotalAmt23648457
IRS990/OtherExpensesGrp/TotalAmt32655092
IRS990/OtherLiabilitiesGrp/BOYAmt04605892
IRS990/OtherLiabilitiesGrp/EOYAmt05371085
IRS990/OtherRevenueMiscGrp/BusinessCd0611710
IRS990/OtherRevenueMiscGrp/BusinessCd1611710
IRS990/OtherRevenueMiscGrp/BusinessCd2611710
IRS990/OtherRevenueMiscGrp/Desc0E RATE REBATE
IRS990/OtherRevenueMiscGrp/Desc1AFFILIATION FEES
IRS990/OtherRevenueMiscGrp/Desc2OTHER INCOME
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IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt1254443
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt262350
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt1254443
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt262350
IRS990/OtherRevenueTotalAmt0591177
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt08807322
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt057064477
IRS990/OtherSalariesAndWagesGrp/TotalAmt065871799
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ProgramServicesAmt0122283
IRS990/PayrollTaxesGrp/TotalAmt0122283
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt0144465
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0733039
IRS990/PensionPlanContributionsGrp/TotalAmt0877504
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt02364953
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt03138404
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/Desc1LUNCH FEES
IRS990/ProgramServiceRevenueGrp/Desc2INSTRUCTION SERVICES
IRS990/ProgramServiceRevenueGrp/Desc3VIRTUAL FEES
IRS990/ProgramServiceRevenueGrp/Desc4FACILITY USAGE INCOME

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$79,316,937
Liabilities
$15,470,090
Net assets
$63,846,847
Revenue
$159,670,507
Expenses
$150,404,599
Net income
$9,265,908
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