Civic Intelligence

True North Classical Academy Inc.

990 • Fiscal year 2020 • EIN 46-4566968

Jul 01, 2019 to Jun 30, 2020 • Filed on May 14, 2021

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

93rd percentile

1.02x

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

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

86th percentile

1.78x

Higher debt load relative to revenue than 86% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Net Margin

45th percentile

2.7%

Higher net margin than 45% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

28th percentile

$115,568

Higher top officer pay than 28% of similar nonprofits.

Top officer pay equals 1.6% of source-year revenue.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Asset Growth

77th percentile

22%

Faster asset growth than 77% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

90th percentile

55%

Faster revenue growth than 90% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Up

$12,859,258

Up $2,341,842 (+22%) from 2019

Net Assets

Up

-$200,437

Up $246,900 (+55%) from 2019

Liabilities

Up

$13,059,695

Up $2,094,942 (+19%) from 2019

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin45th percentile

Revenue

Up

$7,342,070

Up $2,599,054 (+55%) from 2019

Expenses

Up

$7,141,439

Up $2,423,228 (+51%) from 2019

Net Income

Up

$200,631

Up $175,826 (+709%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth77th 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

2020

Assets$12,859,258
Liabilities$13,059,695
Net Assets-$200,437
Open 2020 Filing

Operations Trend

Revenue Growth90th 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

2020

Revenue$7,342,070
Expenses$7,141,439
Net Income$200,631
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 14, 2021
Return Version
2019v5.2
Gross Receipts
$7,342,070
Mission and Program Overview

Mission

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

True north provide exceptional education at our schools that serve infants through high school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$828,096$8,628,443▲ $7,800,347
Cash and Non-Interest-Bearing Accounts$7,311,336$3,450,860▼ $3,860,476
Pledges and Grants Receivable$35,633$682,194▲ $646,561
Intangible Assets$100,000$60,000▼ $40,000
Prepaid Expenses and Deferred Charges$1,606,268$11,812▼ $1,594,456
Total Assets$10,517,416$12,859,258▲ $2,341,842
Other Assets Total$636,083$25,949▼ $610,134
Liabilities
Mortgage Notes Payable Secured by Investment Property$10,055,658$11,366,881▲ $1,311,223
Unsecured Notes Loans Payable-$691,000-
Deferred Revenue$339,964$515,829▲ $175,865
Accounts Payable and Accrued Expenses$233,979$485,985▲ $252,006
Other Liabilities$335,152$0▼ $335,152
Total Liabilities$10,964,753$13,059,695▲ $2,094,942
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-447,337$-200,437▲ $246,900
Total Net Assets Fund Balance$-447,337$-200,437▲ $246,900
Total Liabilities and Net Assets / Fund Balance$10,517,416$12,859,258▲ $2,341,842

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$8,126,777-$8,126,777
Leasehold Improvements$270,169$512,933$783,102
Equipment$231,497$337,083$568,580
Compensation and Service Providers
Top Officer Pay28th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Marc SnyderHeadmasterFT$115,568$115,568

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$2,105,234
Program Service Revenue
$5,236,836
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,035,906
Change in Net Assets
$200,631

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,342,070
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$7,342,070
Total Revenue per Form 990
$7,342,070
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,790,013
Other Expenses$3,351,426
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,663,109$612,951-$3,276,060
Occupancy$1,073,805$9,383-$1,083,188
Fees for Services Other$456,569$292,419-$748,988
Office Expenses$631,968$36,092-$668,060
Other Expenses$267,712$73,717-$341,429
Interest$371$283,356-$283,727
Other Employee Benefits$215,651$49,635-$265,286
Payroll Taxes$202,199$46,468-$248,667
Depreciation Depletion$48,827$177,207-$226,034
Total Functional Expenses$5,560,211$1,581,228$0$7,141,439

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$7,141,439
Total Expenses per Audited Statements$7,141,439
Total Expenses per Form 990$7,141,439
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
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

“No review was or will be conducted.”

Form 990, Part VI, Section C, 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
2021-05-14
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
124
Volunteers
0

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

Additional Explanations

Form 990, Part IX, Line 11G

“Professional fees: program service expenses 456,569. Management and general expenses 292,419. Fundraising expenses 0. Total expenses 748,988.”

FORM 990, PART XI, LINE 9:

“To adjust prior year net assets 46,269.”

Financial Statement Notes

PART X, LINE 2:

“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 6/30/20, 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 2017.”

Raw XML Appendix369 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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IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE 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 6/30/20, 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 2017.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt08628443
IRS990ScheduleD/TotalExpensesPerForm990Amt07141439
IRS990ScheduleD/TotalRevenuePerForm990Amt07342070
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt07342070
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt07141439
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd00
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE NON-DISCRIMINATION STATEMENT IS POSTED ON THE WEBSITE.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 456,569. MANAGEMENT AND GENERAL EXPENSES 292,419. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 748,988.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3TO ADJUST PRIOR YEAR NET ASSETS 46,269.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9:
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0FL
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt010517416
IRS990/TotalAssetsEOYAmt012859258
IRS990/TotalAssetsGrp/BOYAmt010517416
IRS990/TotalAssetsGrp/EOYAmt012859258
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt02105234
IRS990/TotalEmployeeCnt0124
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01581228
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt05560211
IRS990/TotalFunctionalExpensesGrp/TotalAmt07141439
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt010964753
IRS990/TotalLiabilitiesEOYAmt013059695
IRS990/TotalLiabilitiesGrp/BOYAmt010964753
IRS990/TotalLiabilitiesGrp/EOYAmt013059695
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-447337
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-200437
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt05560211
IRS990/TotalProgramServiceRevenueAmt05236836
IRS990/TotalReportableCompFromOrgAmt0115568
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt05236836
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt07342070
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt010517416
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt012859258
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0691000
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt04627 PONCE DE LEON BLVD
IRS990/USAddress/CityNm0CORAL GABLES
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd033146
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.TRUENORTHCHARTER.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0LUIS E DIAZ
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum03057495725
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-05-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0TRUE NORTH CLASSICAL ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0TRUE
ReturnHeader/Filer/EIN0464566968
ReturnHeader/Filer/PhoneNum03057495725
ReturnHeader/Filer/USAddress/AddressLine1Txt04627 PONCE DE LEON BLVD
ReturnHeader/Filer/USAddress/CityNm0CORAL GABLES
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd033146
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/PreparationDt02021-05-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0OCTAVIO A VERDEJA
ReturnHeader/ReturnTs02021-05-14T13:05:11-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-07-01
ReturnHeader/TaxPeriodEndDt02020-06-30
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$12,859,258
Liabilities
$13,059,695
Net assets
-$200,437
Revenue
$7,342,070
Expenses
$7,141,439
Net income
$200,631
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
2020Detailed filing. Detailed filing data is available for this year.$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
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