Civic Intelligence

True North Classical Academy Inc.

990 • Fiscal year 2018 • EIN 46-4566968

Jul 01, 2017 to Jun 30, 2018 • Filed on Apr 29, 2019

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

1.76x

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

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

73rd percentile

0.35x

Higher debt load relative to revenue than 73% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

49th percentile

2.6%

Higher net margin than 49% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

76th percentile

$120,221

Higher top officer pay than 76% of similar nonprofits.

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

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

2nd percentile

-40%

Faster asset growth than 2% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

66th percentile

12%

Faster revenue growth than 66% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets97th percentile

Assets

Down

$550,801

Down $363,151 (-40%) from 2017

Net Assets

Up

-$418,991

Up $71,650 (+15%) from 2017

Liabilities

Down

$969,792

Down $434,801 (-31%) from 2017

Revenue And Expenses
Liabilities / Revenue73rd percentileNet Margin49th percentile

Revenue

Up

$2,764,690

Up $290,366 (+12%) from 2017

Expenses

Up

$2,693,040

Up $149,167 (+5.9%) from 2017

Net Income

Up

$71,650

Up $141,199 (+203%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth2nd 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

2018

Assets$550,801
Liabilities$969,792
Net Assets-$418,991
Open 2018 Filing

Operations Trend

Revenue Growth66th 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

2018

Revenue$2,764,690
Expenses$2,693,040
Net Income$71,650
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Apr 29, 2019
Return Version
2017v2.3
Gross Receipts
$2,764,690
Mission and Program Overview

Mission

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

True north is a classical liberal arts school focused on character and academic excellence.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$469,355$319,804▼ $149,551
Cash and Non-Interest-Bearing Accounts$122,118$124,708▲ $2,590
Prepaid Expenses and Deferred Charges$3,474$26,471▲ $22,997
Pledges and Grants Receivable$210,972$7,818▼ $203,154
Total Assets$913,952$550,801▼ $363,151
Other Assets Total$108,033$72,000▼ $36,033
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,195,500$824,081▼ $371,419
Accounts Payable and Accrued Expenses$209,093$145,711▼ $63,382
Total Liabilities$1,404,593$969,792▼ $434,801
Net Assets / Fund Balance
Unrestricted Net Assets$-490,641$-418,991▲ $71,650
Total Net Assets Fund Balance$-490,641$-418,991▲ $71,650
Total Liabilities and Net Assets / Fund Balance$913,952$550,801▼ $363,151

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$229,004$323,911$552,915
Equipment$90,800$134,905$225,705
Other Assets Org$72,000--
Compensation and Service Providers
Top Officer Pay76th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Marc SnyderHeadmasterFT$120,221$120,221

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$247,000
Program Service Revenue
$2,501,880
Investment Income
$0
Other Revenue
$15,810
All Other Contributions
$247,000
Change in Net Assets
$71,650

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,764,690
Total Revenue per Audited Statements
$2,764,690
Total Revenue per Form 990
$2,764,690
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,573,109
Salaries, Compensation, and Employee Benefits$119,931
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$202,437$50,609-$253,046
All Other Expenses$178,216--$178,216
Other Expenses$106,516$26,629-$133,145
Other Salaries and Wages$119,931--$119,931
Total Functional Expenses$2,524,820$168,220$0$2,693,040

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,693,040
Total Expenses per Audited Statements$2,693,040
Total Expenses per Form 990$2,693,040
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
Audit committee
Yes
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
2019-04-29
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
36

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 6/30/18, 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 2015.”

Raw XML Appendix333 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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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$550,801
Liabilities
$969,792
Net assets
-$418,991
Revenue
$2,764,690
Expenses
$2,693,040
Net income
$71,650
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
2018Detailed filing. Detailed filing data is available for this year.$0.55$0.97$0.42$2.76$2.69$0.07
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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