Civic Intelligence

True North Classical Academy Inc.

990 • Fiscal year 2017 • EIN 46-4566968

Jul 01, 2016 to Jun 30, 2017 • Filed on Apr 24, 2018

Organization ProfileWWW.TRUENORTHCHARTER.ORG

View Organization Page

4627 Ponce DE Leon BlvdCoral Gables, FL 33146

(305) 749-5725

Siviq Scores

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

Liabilities / Assets

97th percentile

1.54x

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

79th percentile

0.57x

Higher debt load relative to revenue than 79% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

31st percentile

-2.8%

Higher net margin than 31% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

72nd percentile

$107,500

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 4.3% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

93rd percentile

63%

Faster asset growth than 93% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

86th percentile

48%

Faster revenue growth than 86% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets97th percentile

Assets

Up

$913,952

Up $353,993 (+63%) from 2016

Net Assets

Down

-$490,641

Down $69,549 (-17%) from 2016

Liabilities

Up

$1,404,593

Up $423,542 (+43%) from 2016

Revenue And Expenses
Liabilities / Revenue79th percentileNet Margin31st percentile

Revenue

Up

$2,474,324

Up $803,286 (+48%) from 2016

Expenses

Up

$2,543,873

Up $569,376 (+29%) from 2016

Net Income

Up

-$69,549

Up $233,910 (+77%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth93rd percentile

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

$60M$40M$20M$0-$20MAssets 2016: $559,959Liabilities 2016: $981,051Net Assets 2016: -$421,0922016Assets 2017: $913,952Liabilities 2017: $1,404,593Net Assets 2017: -$490,6412017Assets 2018: $550,801Liabilities 2018: $969,792Net Assets 2018: -$418,9912018Assets 2019: $10,517,416Liabilities 2019: $10,964,753Net Assets 2019: -$447,3372019Assets 2020: $12,859,258Liabilities 2020: $13,059,695Net Assets 2020: -$200,4372020Assets 2021: $29,956,959Liabilities 2021: $28,083,903Net Assets 2021: $1,873,0562021Assets 2022: $47,255,158Liabilities 2022: $43,593,230Net Assets 2022: $3,661,9282022Assets 2023: $52,723,630Liabilities 2023: $49,224,838Net Assets 2023: $3,498,7922023Assets 2024: $58,350,562Liabilities 2024: $54,906,642Net Assets 2024: $3,443,9202024Assets 2025: $59,418,947Liabilities 2025: $54,456,871Net Assets 2025: $4,962,0762025

Highlighted filing

2017

Assets$913,952
Liabilities$1,404,593
Net Assets-$490,641
Open 2017 Filing

Operations Trend

Revenue Growth86th percentile

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

$40M$30M$20M$10M$0-$10MRevenue 2016: $1,671,038Expenses 2016: $1,974,497Net Income 2016: -$303,4592016Revenue 2017: $2,474,324Expenses 2017: $2,543,873Net Income 2017: -$69,5492017Revenue 2018: $2,764,690Expenses 2018: $2,693,040Net Income 2018: $71,6502018Revenue 2019: $4,743,016Expenses 2019: $4,718,211Net Income 2019: $24,8052019Revenue 2020: $7,342,070Expenses 2020: $7,141,439Net Income 2020: $200,6312020Revenue 2021: $11,588,372Expenses 2021: $9,514,879Net Income 2021: $2,073,4932021Revenue 2022: $17,879,312Expenses 2022: $16,090,440Net Income 2022: $1,788,8722022Revenue 2023: $21,732,930Expenses 2023: $21,896,066Net Income 2023: -$163,1362023Revenue 2024: $28,362,316Expenses 2024: $28,417,188Net Income 2024: -$54,8722024Revenue 2025: $33,210,174Expenses 2025: $31,692,018Net Income 2025: $1,518,1562025

Highlighted filing

2017

Revenue$2,474,324
Expenses$2,543,873
Net Income-$69,549
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Apr 24, 2018
Return Version
2016v3.1
Gross Receipts
$2,474,324
Mission and Program Overview

Mission

True north schools provide a classical liberal arts education to students.

Education of students enrolled in grades kindergarten thru 7th grade.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$347,473$469,355▲ $121,882
Pledges and Grants Receivable-$210,972-
Cash and Non-Interest-Bearing Accounts$142,158$122,118▼ $20,040
Prepaid Expenses and Deferred Charges$4,118$3,474▼ $644
Total Assets$559,959$913,952▲ $353,993
Other Assets Total$66,210$108,033▲ $41,823
Liabilities
Mortgage Notes Payable Secured by Investment Property$875,500$1,195,500▲ $320,000
Accounts Payable and Accrued Expenses$105,551$209,093▲ $103,542
Total Liabilities$981,051$1,404,593▲ $423,542
Net Assets / Fund Balance
Unrestricted Net Assets$-421,092$-490,641▼ $69,549
Total Net Assets Fund Balance$-421,092$-490,641▼ $69,549
Total Liabilities and Net Assets / Fund Balance$559,959$913,952▲ $353,993

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$338,852$122,534$461,386
Equipment$130,503$83,236$213,739
Other Assets Org$108,033--
Compensation and Service Providers
Top Officer Pay72nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Marc SnyderHeadmasterFT$107,500$107,500

Board Members and Trustees

NameTitle
Luis E DiazChair
Ernesto Rodriguez JrDirector
Kent WindhorstDirector
Rudy PagesTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,425,172
Program Service Revenue
$18,689
Investment Income
$0
Other Revenue
$30,463
All Other Contributions
$2,425,172
Change in Net Assets
$-69,549

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,474,324
Total Revenue per Audited Statements
$2,474,324
Total Revenue per Form 990
$2,474,324
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,430,843
Salaries, Compensation, and Employee Benefits$113,030
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$139,870--$139,870
Other Expenses$36,859$88,536-$125,395
Depreciation Depletion$99,915$24,979-$124,894
Other Salaries and Wages$113,030--$113,030
Total Functional Expenses$2,337,948$205,925$0$2,543,873

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,543,873
Total Expenses per Audited Statements$2,543,873
Total Expenses per Form 990$2,543,873
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
True North Classical Academy Inc
EIN
46-4566968
Phone
3057495725
Address
4627 PONCE DE LEON BLVD, CORAL GABLES, FL 33146

Signing Officer

Name
Luis E Diaz
Title
Chair
Phone
3057495725
Signed
2018-04-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Luis E Diaz
Formed
2013
Legal Domicile
Fl
Voting Board Members
4
Independent Board Members
4
Employees
29

Preparer

Firm
Verdeja De Armas & Trujillo Llp
Address
255 ALHAMBRA CIR STE 560, CORAL GABLES, FL 33134-7417
Preparer
Octavio a Verdeja
Phone
3054463177
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“The organization has adopted the provisions of asc no 740, "accounting for uncertainty in income taxes" ("asc no 740"). Asc 740 required that the impact of tax positions to be recognized in the financial statements if they are more likely than not of being sustained upon examination. Accordingly, no provision for income taxes is made in the financial statements. At 6/30/17, there were no uncertain tax positions. The organization files tax returns with us federal and other tax authorities for which statue limitations may go back to the year ended 2014.”

Raw XML Appendix330 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/TotalFunctionalExpensesGrp/TotalAmt02543873
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IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LUIS E DIAZ
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum03057495725
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-04-24
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0TRUE NORTH CLASSICAL ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0TRUE
ReturnHeader/Filer/EIN0464566968
ReturnHeader/Filer/PhoneNum03057495725
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0204989621
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0VERDEJA DE ARMAS & TRUJILLO LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0255 ALHAMBRA CIR STE 560
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CORAL GABLES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0331347417
ReturnHeader/PreparerPersonGrp/PhoneNum03054463177
ReturnHeader/PreparerPersonGrp/PreparationDt02018-05-02
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0OCTAVIO A VERDEJA
ReturnHeader/ReturnTs02018-05-02T16:43:18-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-07-01
ReturnHeader/TaxPeriodEndDt02017-06-30
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$913,952
Liabilities
$1,404,593
Net assets
-$490,641
Revenue
$2,474,324
Expenses
$2,543,873
Net income
-$69,549
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$59.4$54.5$4.96$33.2$31.7$1.52
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$58.4$54.9$3.44$28.4$28.4$0.05
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$52.7$49.2$3.50$21.7$21.9$0.16
2022Detailed filing. Detailed filing data is available for this year.$47.3$43.6$3.66$17.9$16.1$1.79
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$30.0$28.1$1.87$11.6$9.51$2.07
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.9$13.1$0.20$7.34$7.14$0.20
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.5$11.0$0.45$4.74$4.72$0.02
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.55$0.97$0.42$2.76$2.69$0.07
2017Detailed filing. Detailed filing data is available for this year.$0.91$1.40$0.49$2.47$2.54$0.07
2016Detailed filing. Detailed filing data is available for this year.$0.56$0.98$0.42$1.67$1.97$0.30