Civic Intelligence

Somerset Academy Foundation Inc.

990 • Fiscal year 2025 • EIN 46-4129017

Jul 01, 2024 to Jun 30, 2025 • Filed on Mar 30, 2026

Organization ProfileN/A
20805 Johnson StPembroke Pines, FL 33029

(305) 669-2906

Siviq Scores

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

Liabilities / Assets

93rd percentile

0.89x

Higher debt load relative to assets than 93% of similar nonprofits.

2025 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2025

Liabilities / Revenue

97th percentile

10.83x

Higher debt load relative to revenue than 97% of similar nonprofits.

2025 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2025

Net Margin

85th percentile

35%

Higher net margin than 85% of similar nonprofits.

2025 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2025

Top Officer Pay

10th percentile

$0

Higher top officer pay than 10% of similar nonprofits.

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

2025 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2025

Asset Growth

85th percentile

18%

Faster asset growth than 85% of similar nonprofits.

2025 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2024 to 2025

Revenue Growth

44th percentile

4.9%

Faster revenue growth than 44% of similar nonprofits.

2025 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Up

$40,247,277

Up $6,136,826 (+18%) from 2024

Net Assets

Up

$4,395,301

Up $832,524 (+23%) from 2024

Liabilities

Up

$35,851,976

Up $5,304,302 (+17%) from 2024

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin85th percentile

Revenue

Up

$3,310,109

Up $153,648 (+4.9%) from 2024

Expenses

Down

$2,149,402

Down $279,194 (-11%) from 2024

Net Income

Up

$1,160,707

Up $432,842 (+59%) from 2024

Historical Trend

Balance Sheet Trend

Asset Growth85th percentile

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

$60M$40M$20M$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: $3,562,7772024Assets 2025: $40,247,277Liabilities 2025: $35,851,976Net Assets 2025: $4,395,3012025

Highlighted filing

2025

Assets$40,247,277
Liabilities$35,851,976
Net Assets$4,395,301
Open 2025 Filing

Operations Trend

Revenue Growth44th percentile

Revenue, expenses, and net income across loaded years, with this 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: $727,8652024Revenue 2025: $3,310,109Expenses 2025: $2,149,402Net Income 2025: $1,160,7072025

Highlighted filing

2025

Revenue$3,310,109
Expenses$2,149,402
Net Income$1,160,707
Open 2025 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Mar 30, 2026
Return Version
2024v5.5
Gross Receipts
$3,310,109
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$26,799,415$30,801,182▲ $4,001,767
Rtn Earn Endowment Incm Other Fnds$3,562,777$4,395,301▲ $832,524
Cash and Non-Interest-Bearing Accounts$2,048,900$2,862,904▲ $814,004
Savings and Temporary Cash Investments$1,860,000--
Intangible Assets$340,353$267,749▼ $72,604
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$34,110,451$40,247,277▲ $6,136,826
Other Assets Total$3,061,783$6,315,442▲ $3,253,659
Liabilities
Mortgage Notes Payable Secured by Investment Property$18,251,934$17,786,744▼ $465,190
Other Liabilities$5,000,000$10,999,967▲ $5,999,967
Tax Exempt Bond Liabilities$7,295,740$7,046,007▼ $249,733
Accounts Payable and Accrued Expenses-$19,258-
Total Liabilities$30,547,674$35,851,976▲ $5,304,302
Net Assets / Fund Balance
Total Net Assets Fund Balance$3,562,777$4,395,301▲ $832,524
Total Liabilities and Net Assets / Fund Balance$34,110,451$40,247,277▲ $6,136,826

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$19,680,285$3,511,057$23,191,342
Land$11,120,897-$11,120,897
Other Assets Org$500,000--
Compensation and Service Providers
Top Officer Pay10th 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$306,040
Precision Roofing CorpRemodeling & Renovations2646 W 77TH PL, Hialeah, FL 33016$120,450
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,047,080
Investment Income
$263,029
Other Revenue
$0
Change in Net Assets
$1,160,707

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,310,109
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$3,310,109
Total Revenue per Form 990
$3,310,109
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,149,402
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$1,317,753--$1,317,753
Depreciation Depletion$763,259--$763,259
Other Expenses$8,967$7,933-$16,900
Fees for Services Legal-$13,737-$13,737
Fees for Services Accounting-$3,000-$3,000
Total Functional Expenses$2,124,732$24,670$0$2,149,402

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,477,585
Expenses per Audited Statements$2,149,402
Total Expenses per Form 990$2,149,402
Expenses Not Reported on Form 990$328,183
Expenses Not Reported on Financial Statements$0
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$10,836,000
Due to Somerset Dbk$87,348
Due to Somerset Gables$76,619

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
2026-03-30
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, 2025 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, 2025 somerset academy foundation inc is electing to capitalize repairs and maintenance costs under reg.sec.1.263(a)-1(n).”

Financial Statement Notes

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Net increase (decrease) in the fair value of investments 328,183.”

Form 990

“The organization has an interest rate swap agreement with regions bank. The swap is recorded at fair value. During the year, the organization recognized an unrealized loss of $328,183, reflected as an other change in net assets.”

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IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt03310109
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt03562777
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt04395301
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01860000
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/SupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0SOMERSET ACADEMY INC
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt00
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt019680285
IRS990ScheduleD/BuildingsGrp/DepreciationAmt03511057
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt023191342
IRS990ScheduleD/ExpensesNotReportedAmt0328183
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt02149402
IRS990ScheduleD/LandGrp/BookValueAmt011120897
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt011120897
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt05720845
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt194597
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2500000
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0CONSTRUCTION IN PROGRESS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1FAIR VALUE INTEREST SWAP
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2ESCROW DEPOSIT
IRS990ScheduleD/OtherExpensesIncludedAmt0328183
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt010836000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt176619
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt287348
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO SOMERSET ACADEMY, INC
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DUE TO SOMERSET GABLES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2DUE TO SOMERSET DBK
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt03310109
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0NET INCREASE (DECREASE) IN THE FAIR VALUE OF INVESTMENTS 328,183.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION HAS AN INTEREST RATE SWAP AGREEMENT WITH REGIONS BANK. THE SWAP IS RECORDED AT FAIR VALUE. DURING THE YEAR, THE ORGANIZATION RECOGNIZED AN UNREALIZED LOSS OF $328,183, REFLECTED AS AN OTHER CHANGE IN NET ASSETS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990
IRS990ScheduleD/TotalBookValueLandBuildingsAmt030801182
IRS990ScheduleD/TotalBookValueOtherAssetsAmt06315442
IRS990ScheduleD/TotalExpensesPerForm990Amt02149402
IRS990ScheduleD/TotalLiabilityAmt010999967
IRS990ScheduleD/TotalRevenuePerForm990Amt03310109
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt03310109
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02477585
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, 2025 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, 2025 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/LoansOrGuaranteesFromOthOrgInd01
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd01
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt03047080
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt15836000
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt276619
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt387348
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt49720
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0FAIR MARKET VALUE
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1FAIR MARKET VALUE
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt2FAIR MARKET VALUE
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt3FAIR MARKET VALUE
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt4FAIR MARKET VALUE
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0SOMERSET ACADEMY INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1SOMERSET ACADEMY INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt2SOMERSET ACADEMY INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt3SOMERSET ACADEMY INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt4SOMERSET ACADEMY INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0J
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1E
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt2E
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt3E
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt4S
IRS990ScheduleR/TransferFromOtherOrgInd01
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt07295740

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2025 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$40,247,277
Liabilities
$35,851,976
Net assets
$4,395,301
Revenue
$3,310,109
Expenses
$2,149,402
Net income
$1,160,707
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$40.2$35.9$4.40$3.31$2.15$1.16
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