Civic Intelligence

True North Classical Academy Inc.

990 • Fiscal year 2016 • EIN 46-4566968

Jul 01, 2015 to Jun 30, 2016 • Filed on May 08, 2017

9393 Sunset DrMiami, FL 33173

(305) 749-5725

Siviq Scores

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

Liabilities / Assets

97th percentile

1.75x

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

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

79th percentile

0.59x

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

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

16th percentile

-18%

Higher net margin than 16% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2016

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2016

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2016

Assets

$559,959

No earlier filing loaded for comparison.

Net Assets

-$421,092

No earlier filing loaded for comparison.

Liabilities

$981,051

No earlier filing loaded for comparison.

Revenue

$1,671,038

No earlier filing loaded for comparison.

Expenses

$1,974,497

No earlier filing loaded for comparison.

Net Income

-$303,459

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

2016

Assets$559,959
Liabilities$981,051
Net Assets-$421,092

Operations Trend

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

2016

Revenue$1,671,038
Expenses$1,974,497
Net Income-$303,459
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
May 8, 2017
Return Version
2015v3.0
Gross Receipts
$1,671,038
Mission and Program Overview

Mission

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

Education of students enrolled in grades kindergarten thru 5th grade.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,500$347,473▲ $344,973
Cash and Non-Interest-Bearing Accounts$26,986$142,158▲ $115,172
Prepaid Expenses and Deferred Charges$635$4,118▲ $3,483
Total Assets$30,121$559,959▲ $529,838
Other Assets Total-$66,210-
Liabilities
Mortgage Notes Payable Secured by Investment Property$145,500$875,500▲ $730,000
Accounts Payable and Accrued Expenses$2,254$105,551▲ $103,297
Total Liabilities$147,754$981,051▲ $833,297
Net Assets / Fund Balance
Unrestricted Net Assets$-117,633$-421,092▼ $303,459
Total Net Assets Fund Balance$-117,633$-421,092▼ $303,459
Total Liabilities and Net Assets / Fund Balance$30,121$559,959▲ $529,838

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$209,054$45,134$254,188
Equipment$138,419$35,742$174,161
Other Assets Org$2,177--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Luis E DiazChair
Ernesto Rodriguez JrDirector
Kent WindhorstDirector
Marc SnyderHeadmaster
Rudy PagesTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Turin Construction CorpConstruction5225 NW 80TH TERR, Parkland, FL 33067$233,691
Revenue and Support

Revenue Composition

Contributions and Grants
$1,459,847
Program Service Revenue
$27,659
Investment Income
$0
Other Revenue
$183,532
All Other Contributions
$1,459,847
Change in Net Assets
$-303,459

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,671,038
Total Revenue per Audited Statements
$1,671,038
Total Revenue per Form 990
$1,671,038
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,925,226
Salaries, Compensation, and Employee Benefits$49,271
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$149,509--$149,509
Other Expenses$91,603$370,684-$91,603
Depreciation Depletion-$80,875-$80,875
Current Officers, Directors, Trustees, and Key Employees$49,271--$49,271
Total Functional Expenses$1,522,938$451,559$0$1,974,497

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,974,497
Total Expenses per Audited Statements$1,974,497
Total Expenses per Form 990$1,974,497
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
EIN
46-4566968
Phone
3057495725
Address
9393 SUNSET DR, MIAMI, FL 33173

Signing Officer

Name
Luis E Diaz
Title
Chair
Phone
3057495725
Signed
2017-05-08

Organization Details

Principal Officer
Luis E Diaz
Legal Domicile
Fl
Voting Board Members
4
Independent Board Members
4
Employees
26

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, Page 2, Part III, Line 4A

Year. Year end parental survey showed 97% of parents rated the school an a or b on the question of "my child enjoys attending true north", -and "true north positively shaped their children character." the high level of parental enthusiasm is a 8 fundamental reason the school's reputation quickly spread and resulted in an over 400 person waiting list for only 80 open student slots for the upcoming school year. The second part of the school's mission is to achieve the highest levels of academic excellence. The results on this front were impressive. The school's statewide scores on the accountability assessments placed true north top lo/o of over 2,000 public elementary schools in florida. True north's 4th grade students had the second highesi learning gains in the state for english language arts and 5th grade students math had the highest p.ofi"i"n"y score in the state. These exceptional academic results are even more impressive considering it was the first year of operations. True north was also able to establish a top notch art and music program, as well as a robust sports program where many true north sports teams competed in after school sports leagues and played against many private school teams. On all fronts, true north's hrst year accomplishments exceeded all expectations.

Financial Statement Notes

Schedule D, Page 3, Part X

The school qualifies as a tax exempt organization under the internal revenue code section 501(c)(3), and is, therefore, exempt from income tax. Accordingly, no tax provision has been made in the accompanying financial statements.

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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/Desc0TRUE NORTH'S ACCOMPLISHMENTS WERE BEYOND ALL EXPECTATIONS. ALTHOUGH THIS WAS THE INAUGURAL SCHOOL YEAR, TRUE NORTH MORE THAN FULFILLED ITS CORE MISSION - TO CREATE A CLASSICAL LIBERAL ARTS SCHOOL THAT HOLDS EXCELLENCE IN MORAL AND INTELLECTUAL VIRTUE AS THE TRUE AIM OF EDUCATION. THE FIRST PART OF THE MISSION TO CULTIVATE A STUDENT'S CHARACTER AND MORAL VIRTUE IS A FUNDAMENTAL GOAL THAT PERMEATES THE SCHOOL CULTURE, CLASSROOM ENVIRONMENT, AND STUDENT EXPECTATIONS. THIS MISSION WAS MOST PALPABLE IN THE SCHOOL CULTURE WHICH INSTILLED WITHIN ITS STUDENTS A JOY OF LEARNING FOR LEAMING'S SAKE AND A LOVE OF EDUCATION. PARENTS WERE EXCEPTIONALLY APPRECIATIVE OF THE MORAL AND DISCIPLINED ENVIRONMENT AND THIS WAS REFLECTED IN THE ALMOST 98% STUDENT RETENTION RATE FOR THE NEXT SCHOOL YEAR. YEAR END PARENTAL SURVEY SHOWED 97% OF PARENTS RATED THE SCHOOL AN A OR B ON THE QUESTION OF "MY CHILD ENJOYS ATTENDING TRUE NORTH", -AND "TRUE NORTH POSITIVELY SHAPED THEIR CHILDREN CHARACTER." THE HIGH LEVEL OF PARENTAL ENTHUSIASM IS A 8 FUNDAMENTAL REASON THE SCHOOL'S REPUTATION QUICKLY SPREAD AND RESULTED IN AN OVER 400 PERSON WAITING LIST FOR ONLY 80 OPEN STUDENT SLOTS FOR THE UPCOMING SCHOOL YEAR. THE SECOND PART OF THE SCHOOL'S MISSION IS TO ACHIEVE THE HIGHEST LEVELS OF ACADEMIC EXCELLENCE. THE RESULTS ON THIS FRONT WERE IMPRESSIVE. THE SCHOOL'S STATEWIDE SCORES ON THE ACCOUNTABILITY ASSESSMENTS PLACED TRUE NORTH TOP LO/O OF OVER 2,000 PUBLIC ELEMENTARY SCHOOLS IN FLORIDA. TRUE NORTH'S 4TH GRADE STUDENTS HAD THE SECOND HIGHESI LEARNING GAINS IN THE STATE FOR ENGLISH LANGUAGE ARTS AND 5TH GRADE STUDENTS MATH HAD THE HIGHEST P.OFI"I"N"Y SCORE IN THE STATE. THESE EXCEPTIONAL ACADEMIC RESULTS ARE EVEN MORE IMPRESSIVE CONSIDERING IT WAS THE FIRST YEAR OF OPERATIONS. TRUE NORTH WAS ALSO ABLE TO ESTABLISH A TOP NOTCH ART AND MUSIC PROGRAM, AS WELL AS A ROBUST SPORTS PROGRAM WHERE MANY TRUE NORTH SPORTS TEAMS COMPETED IN AFTER SCHOOL SPORTS LEAGUES AND PLAYED AGAINST MANY PRIVATE SCHOOL TEAMS. ON ALL FRONTS, TRUE NORTH'S HRST YEAR ACCOMPLISHMENTS EXCEEDED ALL EXPECTATIONS.
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IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
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IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
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IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0TRUE NORTH CLASSICAL ACAMDEMY, INC. HAS A MULTI-CULTURAL THEME THROUGHOUT THEIR WEBSITE REPRESENTING CHILDREN OF ALL RACES.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0YEAR. YEAR END PARENTAL SURVEY SHOWED 97% OF PARENTS RATED THE SCHOOL AN A OR B ON THE QUESTION OF "MY CHILD ENJOYS ATTENDING TRUE NORTH", -AND "TRUE NORTH POSITIVELY SHAPED THEIR CHILDREN CHARACTER." THE HIGH LEVEL OF PARENTAL ENTHUSIASM IS A 8 FUNDAMENTAL REASON THE SCHOOL'S REPUTATION QUICKLY SPREAD AND RESULTED IN AN OVER 400 PERSON WAITING LIST FOR ONLY 80 OPEN STUDENT SLOTS FOR THE UPCOMING SCHOOL YEAR. THE SECOND PART OF THE SCHOOL'S MISSION IS TO ACHIEVE THE HIGHEST LEVELS OF ACADEMIC EXCELLENCE. THE RESULTS ON THIS FRONT WERE IMPRESSIVE. THE SCHOOL'S STATEWIDE SCORES ON THE ACCOUNTABILITY ASSESSMENTS PLACED TRUE NORTH TOP LO/O OF OVER 2,000 PUBLIC ELEMENTARY SCHOOLS IN FLORIDA. TRUE NORTH'S 4TH GRADE STUDENTS HAD THE SECOND HIGHESI LEARNING GAINS IN THE STATE FOR ENGLISH LANGUAGE ARTS AND 5TH GRADE STUDENTS MATH HAD THE HIGHEST P.OFI"I"N"Y SCORE IN THE STATE. THESE EXCEPTIONAL ACADEMIC RESULTS ARE EVEN MORE IMPRESSIVE CONSIDERING IT WAS THE FIRST YEAR OF OPERATIONS. TRUE NORTH WAS ALSO ABLE TO ESTABLISH A TOP NOTCH ART AND MUSIC PROGRAM, AS WELL AS A ROBUST SPORTS PROGRAM WHERE MANY TRUE NORTH SPORTS TEAMS COMPETED IN AFTER SCHOOL SPORTS LEAGUES AND PLAYED AGAINST MANY PRIVATE SCHOOL TEAMS. ON ALL FRONTS, TRUE NORTH'S HRST YEAR ACCOMPLISHMENTS EXCEEDED ALL EXPECTATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01522938
IRS990/TotalFunctionalExpensesGrp/TotalAmt01974497
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0147754
IRS990/TotalLiabilitiesEOYAmt0981051
IRS990/TotalLiabilitiesGrp/BOYAmt0147754
IRS990/TotalLiabilitiesGrp/EOYAmt0981051
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-117633
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-421092
IRS990/TotalProgramServiceExpensesAmt01522938
IRS990/TotalProgramServiceRevenueAmt027659
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0211191
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01671038
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt030121
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0559959
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-117633
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-421092
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt09393 SUNSET DR
IRS990/USAddress/CityNm0MIAMI
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd033173
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.TRUENORTHCHARTER.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/PersonNm0LUIS E DIAZ
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum03057495725
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-05-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0TRUE NORTH CLASSICAL ACADEMY
ReturnHeader/Filer/BusinessNameControlTxt0TRUE
ReturnHeader/Filer/EIN0464566968
ReturnHeader/Filer/PhoneNum03057495725
ReturnHeader/Filer/USAddress/AddressLine1Txt09393 SUNSET DR
ReturnHeader/Filer/USAddress/CityNm0MIAMI
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd033173
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/PreparationDt02017-05-10
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0OCTAVIO A VERDEJA
ReturnHeader/ReturnTs02017-05-10T17:37:07-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

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