Civic Intelligence

Somerset Academy Foundation Inc

EIN 46-4129017 • 501(c)3 • Pembroke Pines, FL

Profile

Somerset academy foundation, inc. Serves as a type 1 supporting organization for somerset academy, inc., a section 501(c)(3) tax-exempt organization that operates charter schools in miami-dade county, florida.

20805 Johnson StPembroke Pines, FL 33029

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

92nd percentile

0.96x

Higher debt load relative to assets than 92% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2022

Liabilities / Revenue

98th percentile

15.77x

Higher debt load relative to revenue than 98% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2022

Net Margin

73rd percentile

18%

Higher net margin than 73% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2022

Top Officer Pay

41st percentile

$0

Higher top officer pay than 41% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $25M-$50M nonprofits • Source year 2021

Asset Growth

95th percentile

63%

Faster asset growth than 95% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Revenue Growth

81st percentile

30%

Faster revenue growth than 81% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Up

$34,110,451

Up $2,300,006 (+7.2%) from 2023

Liabilities

Up

$30,547,674

Up $1,572,141 (+5.4%) from 2023

Net Assets

Up

$3,562,777

Up $727,865 (+26%) from 2023

Operations
Liabilities / Revenue98th percentileNet Margin73rd percentile

Revenue

Down

$3,156,461

Down $336,922 (-9.6%) from 2023

Expenses

Up

$2,428,596

Up $619,182 (+34%) from 2023

Net Income

Down

$727,865

Down $956,104 (-57%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth95th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$40M$30M$20M$10M$0Assets 2014: $306Liabilities 2014: $5612014Assets 2015: $306Liabilities 2015: $5612015Assets 2016: $17,100Liabilities 2016: $14,762Net Assets 2016: $2,3382016Assets 2017: $7,313,933Liabilities 2017: $7,284,477Net Assets 2017: $29,4562017Assets 2018: $7,573,755Liabilities 2018: $7,264,547Net Assets 2018: $309,2082018Assets 2019: $17,717,921Liabilities 2019: $17,559,108Net Assets 2019: $158,8132019Assets 2020: $17,789,167Liabilities 2020: $17,269,815Net Assets 2020: $519,3522020Assets 2021: $17,885,809Liabilities 2021: $17,024,065Net Assets 2021: $861,7442021Assets 2022: $29,085,662Liabilities 2022: $27,934,719Net Assets 2022: $1,150,9432022Assets 2023: $31,810,445Liabilities 2023: $28,975,533Net Assets 2023: $2,834,9122023Assets 2024: $34,110,451Liabilities 2024: $30,547,674Net Assets 2024: $3,562,7772024

Highlighted filing

2024

Assets$34,110,451
Liabilities$30,547,674
Net Assets$3,562,777
Open 2024 Filing

Operations Trend

Revenue Growth81st percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2014: $238Expenses 2014: $493Net Income 2014: -$2552014Revenue 2015: $0Expenses 2015: $0Net Income 2015: $02015Revenue 2016: $5,000Expenses 2016: $2,407Net Income 2016: $2,5932016Revenue 2017: $399,446Expenses 2017: $372,328Net Income 2017: $27,1182017Revenue 2018: $466,933Expenses 2018: $187,181Net Income 2018: $279,7522018Revenue 2019: $1,111,991Expenses 2019: $1,262,386Net Income 2019: -$150,3952019Revenue 2020: $1,389,607Expenses 2020: $1,029,068Net Income 2020: $360,5392020Revenue 2021: $1,359,200Expenses 2021: $1,016,808Net Income 2021: $342,3922021Revenue 2022: $1,771,098Expenses 2022: $1,454,136Net Income 2022: $316,9622022Revenue 2023: $3,493,383Expenses 2023: $1,809,414Net Income 2023: $1,683,9692023Revenue 2024: $3,156,461Expenses 2024: $2,428,596Net Income 2024: $727,8652024

Highlighted filing

2024

Revenue$3,156,461
Expenses$2,428,596
Net Income$727,865
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$34,110,451
Liabilities
$30,547,674
Net assets
$3,562,777
Revenue
$3,156,461
Expenses
$2,428,596
Net income
$727,865
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$34.1$30.5$3.56$3.16$2.43$0.73
2023Detailed filing. Detailed filing data is available for this year.$31.8$29.0$2.83$3.49$1.81$1.68
2022Detailed filing. Detailed filing data is available for this year.$29.1$27.9$1.15$1.77$1.45$0.32
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.9$17.0$0.86$1.36$1.02$0.34
2020Detailed filing. Detailed filing data is available for this year.$17.8$17.3$0.52$1.39$1.03$0.36
2019Detailed filing. Detailed filing data is available for this year.$17.7$17.6$0.16$1.11$1.26$0.15
2018Detailed filing. Detailed filing data is available for this year.$7.57$7.26$0.31$0.47$0.19$0.28
2017Detailed filing. Detailed filing data is available for this year.$7.31$7.28$0.03$0.40$0.37$0.03
2016Detailed filing. Detailed filing data is available for this year.$0.02$0.01$0.00$0.01$0.00$0.00
2015Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00
2014Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Feb 24, 2025
Return Version
2023v6.0
Gross Receipts
$3,156,461
Mission and Program Overview

Mission

Somerset academy foundation, inc. Serves as a type 1 supporting organization for somerset academy, inc., a section 501(c)(3) tax-exempt organization that operates charter schools in miami-dade county, florida.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$27,264,685$26,799,415▼ $465,270
Rtn Earn Endowment Incm Other Fnds$2,834,912$3,562,777▲ $727,865
Investments Program Related$2,087,466--
Cash and Non-Interest-Bearing Accounts$1,568,218$2,048,900▲ $480,682
Savings and Temporary Cash Investments-$1,860,000-
Intangible Assets$412,958$340,353▼ $72,605
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$31,810,445$34,110,451▲ $2,300,006
Other Assets Total$477,118$3,061,783▲ $2,584,665
Liabilities
Mortgage Notes Payable Secured by Investment Property$16,427,353$18,251,934▲ $1,824,581
Tax Exempt Bond Liabilities$7,533,205$7,295,740▼ $237,465
Other Liabilities$5,009,556$5,000,000▼ $9,556
Accounts Payable and Accrued Expenses$5,419--
Total Liabilities$28,975,533$30,547,674▲ $1,572,141
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,834,912$3,562,777▲ $727,865
Total Liabilities and Net Assets / Fund Balance$31,810,445$34,110,451▲ $2,300,006

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$16,598,518$2,820,402$19,418,920
Land$10,200,897-$10,200,897
Other Assets Org$9,720--
Compensation and Service Providers
Top Officer Pay41st percentile

Board Members and Trustees

NameTitle
Suzette RuizPresident,chairman, Director
Bernie MonteroVice President, Director
Todd GermanDirector
David ConcepcionDirector, Secretary
Tony MoralesTreasurer, Director

Highest Paid Contractors

ContractorServicesLocationCompensation
Camcon Group LLCRemodeling & Renovations5000 SW 75 AVE STE 300B, Miami, FL 33155$2,457,759
Civica LLCRemodeling & Renovations8323 NW 12 ST STE 106, Doral, FL 33126$136,875
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,663,096
Investment Income
$424,440
Other Revenue
$68,925
Change in Net Assets
$727,865

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,156,461
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$3,156,461
Total Revenue per Form 990
$3,156,461
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,107,296
Grants and Similar Amounts Paid$321,300
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$1,312,817--$1,312,817
Depreciation Depletion$754,346--$754,346
Grants to Domestic Orgs$321,300--$321,300
Fees for Services Other$990$3,069-$4,059
Fees for Services Legal-$2,389-$2,389
Other Expenses$1,778$24,316-$1,778
Total Functional Expenses$2,398,822$29,774$0$2,428,596

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,428,596
Total Expenses per Audited Statements$2,428,596
Total Expenses per Form 990$2,428,596
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Somerset Academy IncMiami, FL501 (c) (3)To Help the School Provide Quality Facilities for Its Students$321,300
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Somerset Academy, Inc$5,000,000

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACapital Trust Agency2018-08-07$8,560,000Fund capital improvements

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$8,560,000---

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
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 35% controlled entity
No
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
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The organization reviews the contents of the form 990 before submitting it to the 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 and key employees, the organization reviews the officer's contract, budget, and performance.”

Form 990, Part VI, Section C, Line 18

“This information is available on 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 Foundation Inc
EIN
46-4129017
Phone
3056692906
Address
20805 JOHNSON ST, PEMBROKE PINES, FL 33029

Signing Officer

Name
Suzette Ruiz
Title
Chairman
Phone
3056692906
Signed
2025-02-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Suzette Ruiz
Formed
2013
Legal Domicile
Fl
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
0

Preparer

Firm
Hlb Gravier Llp
Address
4000 PONCE DE LEON BLVD SUITE 610, CORAL GABLES, FL 33146
Preparer
Leonardo D Gravier
Phone
3054463022
Supplemental Narrative

Additional Explanations

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

“Somerset academy foundation inc 20805 johnson st pembroke pines, fl 33029 ein:46-4129017 for the year ending june 30, 2024 somerset academy foundation 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 foundation inc 20805 johnson st pembroke pines, fl 33029 ein:46-4129017 for the year ending june 30, 2024 somerset academy foundation inc is electing to capitalize repairs and maintenance costs under reg.sec.1.263(a)-1(n).”

Raw XML AppendixShowing 400 of 481 raw XML fields

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/OtherExpensesGrp/ProgramServicesAmt21778
IRS990/OtherExpensesGrp/TotalAmt024379
IRS990/OtherExpensesGrp/TotalAmt17528
IRS990/OtherExpensesGrp/TotalAmt21778
IRS990/OtherLiabilitiesGrp/BOYAmt05009556
IRS990/OtherLiabilitiesGrp/EOYAmt05000000
IRS990/OtherRevenueMiscGrp/BusinessCd0531120
IRS990/OtherRevenueMiscGrp/Desc0OTHER INCOME- UNREALIZ
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt068925
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt068925
IRS990/OtherRevenueTotalAmt068925
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0SUZETTE RUIZ
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531120
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt02663096
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02663096
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0220376
IRS990/PYOtherExpensesAmt01809414
IRS990/PYOtherRevenueAmt0354658
IRS990/PYProgramServiceRevenueAmt02918349
IRS990/PYRevenuesLessExpensesAmt01683969
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt01809414
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt03493383
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0727865
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt03156461
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt02834912
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt03562777
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01860000
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd01
IRS990ScheduleA/IRSWrittenDeterminationInd0X
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0311569428
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd02
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt0321300
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0SOMERSET ACADEMY INC
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt0321300
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt016598518
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02820402
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt019418920
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt02428596
IRS990ScheduleD/LandGrp/BookValueAmt010200897
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt010200897
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt02629283
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1422780
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt29720
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0CONSTRUCTION IN PROGRESS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1FAIR VALUE INTEREST SWAP
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2DUE FROM SOMERSET GABLES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt05000000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO SOMERSET ACADEMY, INC
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt03156461
IRS990ScheduleD/TotalBookValueLandBuildingsAmt026799415
IRS990ScheduleD/TotalBookValueOtherAssetsAmt03061783
IRS990ScheduleD/TotalExpensesPerForm990Amt02428596
IRS990ScheduleD/TotalLiabilityAmt05000000
IRS990ScheduleD/TotalRevenuePerForm990Amt03156461
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt03156461
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02428596
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt0321300
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501 (C) (3)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0TO HELP THE SCHOOL PROVIDE QUALITY FACILITIES FOR ITS STUDENTS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0SOMERSET ACADEMY INC
IRS990ScheduleI/RecipientTable/RecipientEIN0311569428
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt06340 SUNSET DRIVE
IRS990ScheduleI/RecipientTable/USAddress/CityNm0MIAMI
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0FL
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd033143
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION WORKS CLOSELY WITH THE GRANT RECEIPIENTS TO ENSURE THAT THE FUNDS ARE USED FOR THEIR INTENDED PUPRPOSES.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, SCHEDULE I, PART I, LINE 2
IRS990ScheduleI/Total501c3OrgCnt01
IRS990/ScheduleJRequiredInd00
IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd0A
IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd01
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/ExceptionToRebateInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd01
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd01
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02018-08-07
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN0593591394
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt08560000
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0CAPITAL TRUST AGENCY
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0FUND CAPITAL IMPROVEMENTS
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd01
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalExpendituresAmt08560000
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd01
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxableBondsInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxExemptBondsInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt08560000
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION REVIEWS THE CONTENTS OF THE FORM 990 BEFORE SUBMITTING IT TO THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION REQUIRES THAT ALL OFFICERS AND/OR DIRECTORS DISCLOSE ANY ACTIVITY THAT MAY BE A CONFLICT OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DURING THE DETERMINATION OF COMPENSATION OF OFFICERS AND KEY EMPLOYEES, THE ORGANIZATION REVIEWS THE OFFICER'S CONTRACT, BUDGET, AND PERFORMANCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THIS INFORMATION IS AVAILABLE ON WWW.GUIDESTAR.ORG.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THIS INFORMATION IS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5SOMERSET ACADEMY FOUNDATION INC 20805 JOHNSON ST PEMBROKE PINES, FL 33029 EIN:46-4129017 FOR THE YEAR ENDING JUNE 30, 2024 SOMERSET ACADEMY FOUNDATION INC IS MAKING THE MINIMIS SAFE HABOR ELECTION UNDER REG.SEC.1.263(A)-1(F).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6SOMERSET ACADEMY FOUNDATION INC 20805 JOHNSON ST PEMBROKE PINES, FL 33029 EIN:46-4129017 FOR THE YEAR ENDING JUNE 30, 2024 SOMERSET ACADEMY FOUNDATION INC IS ELECTING TO CAPITALIZE REPAIRS AND MAINTENANCE COSTS UNDER REG.SEC.1.263(A)-1(N).
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5SECTION 1.263(A)-1(F) DE MINIMIS SAFE HABOR ELECTION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6SECTION 1.263(A)-1(N) ELECTION
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0SOMERSET ACADEMY INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0311569428
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0FL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0EDUCATIONAL DEVELOPMENT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 2
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt06340 SUNSET DRIVE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0MIAMI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0FL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd033143
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd01
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd01
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt02663096
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt183522
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt29720
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0FAIR MARKET VALUE
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1FAIR MARKET VALUE
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt2FAIR MARKET VALUE
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0SOMERSET ACADEMY INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1SOMERSET ACADEMY INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt2SOMERSET ACADEMY INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0J
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1S
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt2D
IRS990ScheduleR/TransferFromOtherOrgInd01

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