Liabilities / Assets
45th percentile
Higher debt load relative to assets than 45% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.23x
Liabilities / Revenue
55th percentile
Higher debt load relative to revenue than 55% of similar nonprofits.
Net Margin
52nd percentile
Higher net margin than 52% of similar nonprofits.
Top Officer Pay
62nd percentile
Higher top officer pay than 62% of similar nonprofits.
Top officer pay equals 1.3% of source-year revenue.
Asset Growth
59th percentile
Faster asset growth than 59% of similar nonprofits.
Revenue Growth
79th percentile
Faster revenue growth than 79% of similar nonprofits.
Balance Sheet
Assets
Up$38,753,454
Up $1,302,609 (+3.5%) from 2014
Net Assets
Up$29,885,643
Up $882,922 (+3.0%) from 2014
Liabilities
Up$8,867,811
Up $419,687 (+5.0%) from 2014
Revenue And Expenses
Revenue
Up$22,536,602
Up $3,569,921 (+19%) from 2014
Expenses
Up$21,580,397
Up $3,622,712 (+20%) from 2014
Net Income
Down$956,205
Down $52,791 (-5.2%) from 2014
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jun 1, 2014 to May 31, 2015
- Signed
- Jan 15, 2016
- Return Version
- 2014v6.0
- Gross Receipts
- $30,662,844
Mission and Program Overview
Mission
Based on the original mission of the academy in 1912, the mission of montverde academy is to increase student knowledge, develop cognitive skills, and build character in a nurturing, disciplined, and diverse community.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Land, Buildings, and Equipment, Net | $29,686,837 | $32,541,193 | ▲ $2,854,356 |
| Investments in Publicly Traded Securities | $5,990,067 | $5,204,886 | ▼ $785,181 |
| Savings and Temporary Cash Investments | $1,054,654 | $428,427 | ▼ $626,227 |
| Inventories for Sale or Use | $377,720 | $261,652 | ▼ $116,068 |
| Accounts Receivable | $109,570 | $93,486 | ▼ $16,084 |
| Intangible Assets | $63,180 | $59,670 | ▼ $3,510 |
| Total Assets | $37,450,845 | $38,753,454 | ▲ $1,302,609 |
| Other Assets Total | $168,817 | $164,140 | ▼ $4,677 |
| Liabilities | |||
| Tax Exempt Bond Liabilities | $5,670,000 | $5,355,000 | ▼ $315,000 |
| Other Liabilities | $2,430,344 | $2,702,179 | ▲ $271,835 |
| Accounts Payable and Accrued Expenses | $347,780 | $810,632 | ▲ $462,852 |
| Total Liabilities | $8,448,124 | $8,867,811 | ▲ $419,687 |
| Net Assets / Fund Balance | |||
| Unrestricted Net Assets | $28,843,404 | $29,729,003 | ▲ $885,599 |
| Permanently Rstr Net Assets | $159,317 | $156,640 | ▼ $2,677 |
| Total Net Assets Fund Balance | $29,002,721 | $29,885,643 | ▲ $882,922 |
| Total Liabilities and Net Assets / Fund Balance | $37,450,845 | $38,753,454 | ▲ $1,302,609 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Buildings | $28,388,398 | $8,544,184 | $36,932,582 |
| Equipment | $2,949,821 | $3,053,833 | $6,003,654 |
| Other Land Buildings | $565,588 | $402,262 | $967,850 |
| Land | $637,386 | - | $637,386 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Kasey Kesselring | Headmaster | FT | $270,000 | $27,000 | $297,000 |
| Kevin Boyle | Head Basketball Coach/Director | FT | $130,000 | $13,000 | $143,000 |
| Bradley Long | Administration | FT | $101,569 | $10,157 | $111,726 |
| Michael W Potempa Jr | Middle School Instructor | FT | $100,001 | $10,000 | $110,001 |
| Walter L Stephens Jr | Chairman/treasurer | PT | $35,000 | - | $35,000 |
Board Members and Trustees
| Name | Title |
|---|---|
| Sandra O Stephens | Vice Chairman |
| Gregory L Nelson | Trustee |
| Jon Frere | Trustee |
| Michael Mason | Trustee |
| S Renee Lundy | Trustee |
| T Scott Ohmstede | Trustee |
| Tim J Bach | Trustee |
| Lori Specht | Secretary |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $433,302
- Program Service Revenue
- $21,624,646
- Investment Income
- $149,196
- Other Revenue
- $329,458
- All Other Contributions
- $433,302
- Change in Net Assets
- $956,205
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $23,525,496
- Revenue Not Reported on Financial Statements
- $-988,895
- Revenue Not Reported on Form 990
- $-106,772
- Other Revenue Adjustments
- $-988,895
- Total Revenue per Audited Statements
- $23,418,724
- Total Revenue per Form 990
- $22,536,601
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $12,305,953 |
| Salaries, Compensation, and Employee Benefits | $9,274,444 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Other Salaries and Wages | $6,959,232 | $773,248 | - | $7,732,480 |
| All Other Expenses | $2,389,016 | $53,498 | - | $2,442,514 |
| Depreciation Depletion | $1,877,694 | $208,633 | - | $2,086,327 |
| Insurance | $1,064,883 | $118,320 | - | $1,183,203 |
| Other Expenses | $873,617 | $136,277 | - | $873,617 |
| Occupancy | $594,049 | $66,005 | - | $660,054 |
| Pension Plan Contributions | $567,688 | $63,076 | - | $630,764 |
| Payroll Taxes | $545,580 | $60,620 | - | $606,200 |
| Travel | - | $378,866 | - | $378,866 |
| Current Officers, Directors, Trustees, and Key Employees | $305,000 | - | - | $305,000 |
| Advertising | $208,459 | - | - | $208,459 |
| Office Expenses | $169,090 | - | - | $169,090 |
| Interest | - | $143,010 | - | $143,010 |
| Fees for Services Other | $54,485 | - | - | $54,485 |
| Fees for Services Legal | $46,529 | - | - | $46,529 |
| Fees for Services Accounting | $41,100 | - | - | $41,100 |
| Fees for Service Investment Mgmnt Fees | - | $33,488 | - | $33,488 |
| Total Functional Expenses | $19,545,356 | $2,035,041 | $0 | $21,580,397 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Total Expenses per Audited Statements | $22,535,802 |
| Total Expenses per Form 990 | $21,580,397 |
| Expenses per Audited Statements | $21,546,907 |
| Expenses Not Reported on Form 990 | $988,895 |
| Expenses Not Reported on Financial Statements | $33,490 |
| Other Expense Adjustments | $2 |
International Activity
International Summary
- Offices
- 1
- Employees
- 1
- Spending
- $41,195
International Compliance
- Activity in boycott countries
- No
- Foreign corporation ownership
- No
- Foreign partnership interest
- No
- Interest in foreign trust
- No
- Passive foreign investment company interest
- No
- Transfers to foreign corporations
- No
International Activities
| Region | Activity | Services | Offices | Employees | Spending |
|---|---|---|---|---|---|
| East Asia and the Pacific - | Program Services | MVA CONSULTING, LLC OPERATES IN CHINA CARRYING OUT MONTVERDE ACADEMY, INC'S RECRUITING INTERESTS. | 1 | 1 | $41,195 |
Fundraising, Events, and Gaming
- Fundraising activities
- Yes
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Fundraising Gross Income | $252,667 |
| Fundraising Direct Expenses | $170,078 |
| Professional Fundraising Fees | $0 |
Fundraising Events
| Event | Gross Receipts | Gross Revenue | Direct Expenses | Net Income |
|---|---|---|---|---|
| Celebrating Education | $176,449 | $176,449 | $122,151 | $54,298 |
| Total Events | $176,449 | $176,449 | $122,151 | $54,298 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
- Subject to proxy tax
- No
Debt and Bond Financing
Other Reported Liabilities
| Liability | Amount |
|---|---|
| Tuition Received in Advance | $2,617,917 |
| Interest Rate Swap | $84,262 |
Bond Issues
| Bond | Issuer | Issued | Issue Price | Purpose |
|---|---|---|---|---|
| B | Florida Development Finance Corporation - Refunding Rev Bonds Series 2012b | 2012-04-11 | $5,060,000 | SEE SCHEDULE O. |
| A | Florida Development Finance Corporation - Refunding Rev Bonds Series 2012a | 2012-04-11 | $1,240,000 | SEE SCHEDULE O. |
Bond Proceeds
| Bond | Total Proceeds | Spent | Retired | Issuance Costs |
|---|---|---|---|---|
| B | $5,060,000 | - | - | $56,383 |
| A | $1,240,000 | - | - | $13,817 |
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
- No
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 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 A, Line 2
“The chairman/treasurer, walter l. Stephens, jr., is married to the vice chairman, sandra o. Stephens, and their daughter, s. Renee lundy, is a trustee.”
Form 990, Part VI, Section B, Line 11
“The form 990 is reviewed by the finance and audit committee of the board of trustees, the headmaster, and the chairman of the board before filing with the internal revenue service.”
Form 990, Part VI, Section B, Line 12C
“The conflict of interest policy is in accordance with nais standards and is reviewed annually by the board of directors. Annual disclosure is required by officers, directors, trustees, and key employees for potential conflicts of interest.”
Form 990, Part VI, Section B, Line 15
“The board of trustees has a standing committee for headmaster evaluation and compensation. The committee evaluates the headmaster annually and uses compensation data provided by nais to determine salary in comparison to other private schools of similar size and demographic. Decisions of board members are properly documented and reflected in the minutes.”
Form 990, Part VI, Section C, Line 19
“The governing documents, conflict of interest policy, and audited financial statements are made available for viewing at request from the headmaster's office.”
Filing and Contact Details
Filer
- Filer Name
- Montverde Academy Inc
- EIN
- 59-0657329
- Phone
- 4074692561
- Address
- 17235 7TH STREET, MONTVERDE, FL 34756
Signing Officer
- Name
- Walter L Stephens Jr
- Title
- Chairman
- Phone
- 4076549841
- Signed
- 2016-01-15
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Walter L Stephens Jr
- Formed
- 1912
- Legal Domicile
- Fl
- Voting Board Members
- 10
- Independent Board Members
- 10
- Employees
- 286
- Volunteers
- 0
Preparer
- Firm
- Averett Warmus Durkee Pa
- Address
- 1417 E CONCORD STREET, ORLANDO, FL 32803
- Preparer
- Edward a Hofma CPA
- Phone
- 4078491569
Supplemental Narrative
Additional Explanations
Form 990, Part IX, Line 24E
“Enrollment commissions: program service expenses 721,023. Management and general expenses 0. Fundraising expenses 0. Total expenses 721,023. Activities: program service expenses 633,569. Management and general expenses 0. Fundraising expenses 0. Total expenses 633,569. Transportation: program service expenses 314,564. Management and general expenses 0. Fundraising expenses 0. Total expenses 314,564. Admissions: program service expenses 281,425. Management and general expenses 0. Fundraising expenses 0. Total expenses 281,425. Miscellaneous: program service expenses 147,778. Management and general expenses 0. Fundraising expenses 0. Total expenses 147,778. Bad debts: program service expenses 146,800. Management and general expenses 0. Fundraising expenses 0. Total expenses 146,800. Alumni development: program service expenses 0. Management and general expenses 53,498. Fundraising expenses 0. Total expenses 53,498. Campus security: program service expenses 52,819. Management and general expenses 0. Fundraising expenses 0. Total expenses 52,819. Dues and association conference: program service expenses 37,436. Management and general expenses 0. Fundraising expenses 0. Total expenses 37,436. Faculty recruitment: program service expenses 31,865. Management and general expenses 0. Fundraising expenses 0. Total expenses 31,865. Library: program service expenses 21,737. Management and general expenses 0. Fundraising expenses 0. Total expenses 21,737.”
Form 990, Part XII, Line 2C
“The organization has not changed its processes from the prior year.”
Financial Statement Notes
PART X, LINE 2:
“The academy is a tax-exempt organization under section 501(c)(3) of the internal revenue code. Thus, the academy is not subject to corporate income taxes except for taxes on unrelated business income. Accounting principles generally accepted in the united states of america prescribe requirements for the recognition of income taxes in consolidated financial statements, and the amounts recognized are affected by income tax positions taken by the academy in its tax returns. The academy's status as an exempt organization is defined as an income tax position under these requirements. While management believes it has complied with the internal revenue code, the sustainability of some income tax positions taken by the academy in its tax returns may be uncertain. There are minimum thresholds of likelihood that uncertain tax positions are required to meet before being recognized in the consolidated financial statements. Management does not believe that the academy has any material uncertain tax positions at may 31, 2015. In the event interest and penalties were due relating to an unsustainable tax positions, they would be treated as a component of income tax expense. The academy's federal income tax returns are subject to examination by the inte nal revenue service. At may 31, 2015, the fiscal years 2011 through 2014 federal tax returns are subject to examination.”
PART XI, LINE 2D - OTHER ADJUSTMENTS:
“Investment expenses included on form 990, part viii, line 7b -33,488.”
PART XI, LINE 4B - OTHER ADJUSTMENTS:
“Direct fundraising expenses -170,078. Cost of goods sold -818,817.”
PART XII, LINE 2D - OTHER ADJUSTMENTS:
“Cost of goods sold 818,817. Direct fundrasing expenses 170,078.”
PART XII, LINE 4B - OTHER ADJUSTMENTS:
“Reconciliation adjustment 2.”
Raw XML AppendixShowing 400 of 666 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/AccountsPayableAccrExpnssGrp/EOYAmt | 0 | 810632 |
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| IRS990/AccountsReceivableGrp/EOYAmt | 0 | 93486 |
| IRS990/ActivitiesConductedPrtshpInd | 0 | 0 |
| IRS990/ActivityOrMissionDesc | 0 | BASED ON THE ORIGINAL MISSION OF THE ACADEMY IN 1912, THE MISSION OF MONTVERDE ACADEMY IS TO INCREASE STUDENT KNOWLEDGE, DEVELOP COGNITIVE SKILLS, AND BUILD CHARACTER IN A NURTURING, DISCIPLINED, AND DIVERSE COMMUNITY. |
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| IRS990/BooksInCareOfDetail/USAddress/CityNm | 0 | MONTVERDE |
| IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd | 0 | FL |
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| IRS990/Desc | 0 | MONTVERDE ACADEMY IS A COLLEGE PREPARATORY, COEDUCATIONAL INDEPENDENT SCHOOL SERVING GRADES PK3-12. THE BOARDING PROGRAM SERVES GRADES 7-12 AND POST GRADUATE. AT THE HEART OF THE MONTVERDE ACADEMY EXPERIENCE IS AN ENGAGING AND CHALLENGING ACADEMIC ENVIRONMENT THAT GIVES STUDENTS THE DESIRE AND SKILLS TO ACHIEVE AT THE HIGHEST LEVELS. OUTSIDE OF THE CLASSROOM, STUDENTS CONTINUE TO DEVELOP THEIR TALENTS AND ABILITIES THROUGH INVOLVEMENT IN FINE ARTS, ATHLETICS, SCHOOL CLUBS, AND SERVICE ORGANIZATIONS.AVERAGE ENROLLMENT DURING THE 2014-2015 SCHOOL YEAR WAS APPROXIMATELY 1,181 STUDENTS. APPROXIMATELY 301 STUDENTS ARE HOUSED ON CAMPUS; THE REMAINING STUDENTS ARE DAY STUDENTS. |
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| IRS990/Form990PartVIISectionAGrp/PersonNm | 3 | S RENEE LUNDY |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 4 | GREGORY L NELSON |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 5 | TIM J BACH |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 6 | MICHAEL MASON |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 7 | LORI SPECHT |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 8 | JON FRERE |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 9 | KASEY KESSELRING |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 10 | KEVIN BOYLE |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 11 | BRADLEY LONG |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 12 | MICHAEL W POTEMPA JR |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 0 | 35000 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 1 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 2 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 3 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 4 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 5 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 6 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 7 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 8 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 9 | 270000 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 10 | 130000 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 11 | 101569 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 12 | 100001 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 0 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 1 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 2 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 3 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 4 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 5 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 6 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 7 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 8 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 9 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 10 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 11 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 12 | 0 |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 0 | CHAIRMAN/TREASURER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 1 | VICE CHAIRMAN |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 2 | TRUSTEE |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 3 | TRUSTEE |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 4 | TRUSTEE |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 5 | TRUSTEE |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 6 | TRUSTEE |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 7 | SECRETARY |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 8 | TRUSTEE |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 9 | HEADMASTER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 10 | HEAD BASKETBALL COACH/DIR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 11 | ADMINISTRATION |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 12 | MIDDLE SCHOOL INSTRUCTOR |
| IRS990/Form990ProvidedToGvrnBodyInd | 0 | 1 |
| IRS990/FormationYr | 0 | 1912 |
| IRS990/FormerOfcrEmployeesListedInd | 0 | 0 |
| IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd | 0 | X |
| IRS990/FSAuditedInd | 0 | 1 |
| IRS990/FundraisingActivitiesInd | 0 | 1 |
| IRS990/FundraisingDirectExpensesAmt | 0 | 170078 |
| IRS990/FundraisingGrossIncomeAmt | 0 | 252667 |
| IRS990/GainOrLossGrp/OtherAmt | 0 | -170067 |
| IRS990/GainOrLossGrp/SecuritiesAmt | 0 | 97339 |
| IRS990/GamingActivitiesInd | 0 | 0 |
| IRS990/GoverningBodyVotingMembersCnt | 0 | 10 |
| IRS990/GrantsToIndividualsInd | 0 | 0 |
| IRS990/GrantsToOrganizationsInd | 0 | 0 |
| IRS990/GrantToRelatedPersonInd | 0 | 0 |
| IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt | 0 | 7064619 |
| IRS990/GrossReceiptsAmt | 0 | 30662844 |
| IRS990/GrossSalesOfInventoryAmt | 0 | 870456 |
| IRS990/GroupReturnForAffiliatesInd | 0 | 0 |
| IRS990/IncludeFIN48FootnoteInd | 0 | 1 |
| IRS990/IndependentAuditFinclStmtInd | 0 | 0 |
| IRS990/IndependentVotingMemberCnt | 0 | 10 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 4 |
| IRS990/IndoorTanningServicesInd | 0 | 0 |
| IRS990/InfoInScheduleOPartIXInd | 0 | X |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InfoInScheduleOPartXIIInd | 0 | X |
| IRS990/InsuranceGrp/ManagementAndGeneralAmt | 0 | 118320 |
| IRS990/InsuranceGrp/ProgramServicesAmt | 0 | 1064883 |
| IRS990/InsuranceGrp/TotalAmt | 0 | 1183203 |
| IRS990/IntangibleAssetsGrp/BOYAmt | 0 | 63180 |
| IRS990/IntangibleAssetsGrp/EOYAmt | 0 | 59670 |
| IRS990/InterestGrp/ManagementAndGeneralAmt | 0 | 143010 |
| IRS990/InterestGrp/TotalAmt | 0 | 143010 |
| IRS990/InventoriesForSaleOrUseGrp/BOYAmt | 0 | 377720 |
| IRS990/InventoriesForSaleOrUseGrp/EOYAmt | 0 | 261652 |
| IRS990/InvestmentIncomeGrp/ExclusionAmt | 0 | 221924 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 221924 |
| IRS990/InvestmentInJointVentureInd | 0 | 0 |
| IRS990/InvestmentsPubTradedSecGrp/BOYAmt | 0 | 5990067 |
| IRS990/InvestmentsPubTradedSecGrp/EOYAmt | 0 | 5204886 |
| IRS990/InvestTaxExemptBondsInd | 0 | 0 |
| IRS990/IRPDocumentCnt | 0 | 15 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipAccumDeprecAmt | 0 | 12000279 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 29686837 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 32541193 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 44541472 |
| IRS990/LegalDomicileStateCd | 0 | FL |
| IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt | 0 | 170067 |
| IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt | 0 | 6967280 |
| IRS990/LoanOutstandingInd | 0 | 0 |
| IRS990/LobbyingActivitiesInd | 0 | 0 |
| IRS990/LocalChaptersInd | 0 | 0 |
| IRS990/MaterialDiversionOrMisuseInd | 0 | 0 |
| IRS990/MembersOrStockholdersInd | 0 | 0 |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | 1 |
| IRS990/MinutesOfGoverningBodyInd | 0 | 1 |
| IRS990/MissionDesc | 0 | BASED ON THE ORIGINAL MISSION OF THE ACADEMY IN 1912, THE MISSION OF MONTVERDE ACADEMY IS TO INCREASE STUDENT KNOWLEDGE, DEVELOP COGNITIVE SKILLS, AND BUILD CHARACTER IN A NURTURING, DISCIPLINED, AND DIVERSE COMMUNITY. |
| IRS990/MoreThan5000KToIndividualsInd | 0 | 0 |
| IRS990/MoreThan5000KToOrgInd | 0 | 0 |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | 29002721 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 29885643 |
| IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt | 0 | -72728 |
| IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt | 0 | -72728 |
| IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt | 0 | 82589 |
| IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt | 0 | 82589 |
| IRS990/NetIncomeOrLossGrp/ExclusionAmt | 0 | 30969 |
| IRS990/NetIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt | 0 | 20670 |
| IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt | 0 | 51639 |
| IRS990/NetUnrelatedBusTxblIncmAmt | 0 | 0 |
| IRS990/NetUnrlzdGainsLossesInvstAmt | 0 | -73284 |
| IRS990/NondeductibleContributionsInd | 0 | 0 |
| IRS990/OccupancyGrp/ManagementAndGeneralAmt | 0 | 66005 |
| IRS990/OccupancyGrp/ProgramServicesAmt | 0 | 594049 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 660054 |
| IRS990/OfficeExpensesGrp/ProgramServicesAmt | 0 | 169090 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 169090 |
| IRS990/OfficerMailingAddressInd | 0 | 0 |
| IRS990/OnBehalfOfIssuerInd | 0 | 0 |
| IRS990/OperateHospitalInd | 0 | 0 |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrganizationFollowsSFAS117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 168817 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 164140 |
| IRS990/OtherChangesInNetAssetsAmt | 0 | 0 |
| IRS990/OtherExpensesGrp/Desc | 0 | ATHLETICS |
| IRS990/OtherExpensesGrp/Desc | 1 | EQUIPMENT RENTAL AND MA |
| IRS990/OtherExpensesGrp/Desc | 2 | DINING ROOM SUPPLIES |
| IRS990/OtherExpensesGrp/Desc | 3 | INSTRUCTIONAL EXPENSE |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 0 | 136277 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 1429090 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | 1226489 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 2 | 1193355 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 3 | 873617 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 1429090 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 1362766 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 1193355 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | 873617 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 2430344 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 2702179 |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 0 | 611600 |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 1 | 611600 |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 2 | 611600 |
| IRS990/OtherRevenueMiscGrp/Desc | 0 | MISCELLANEOUS INCOME |
| IRS990/OtherRevenueMiscGrp/Desc | 1 | WASHER/DRYER REVENUE |
| IRS990/OtherRevenueMiscGrp/Desc | 2 | KEYS/FACILITY |
| IRS990/OtherRevenueMiscGrp/ExclusionAmt | 0 | 119305 |
| IRS990/OtherRevenueMiscGrp/ExclusionAmt | 1 | 39045 |
| IRS990/OtherRevenueMiscGrp/ExclusionAmt | 2 | 36880 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 0 | 119305 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 1 | 39045 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 2 | 36880 |
| IRS990/OtherRevenueTotalAmt | 0 | 195230 |
| IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt | 0 | 773248 |
| IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt | 0 | 6959232 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 7732480 |
| IRS990/PartialLiquidationInd | 0 | 0 |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt | 0 | 60620 |
| IRS990/PayrollTaxesGrp/ProgramServicesAmt | 0 | 545580 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 606200 |
| IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt | 0 | 63076 |
| IRS990/PensionPlanContributionsGrp/ProgramServicesAmt | 0 | 567688 |
| IRS990/PensionPlanContributionsGrp/TotalAmt | 0 | 630764 |
| IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt | 0 | 159317 |
| IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt | 0 | 156640 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrincipalOfficerNm | 0 | WALTER L STEPHENS JR |
| IRS990/ProfessionalFundraisingInd | 0 | 0 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 0 | 611600 |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | TUITION, ROOM & BOARD |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 21624646 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 21624646 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/PYContributionsGrantsAmt | 0 | 255584 |
| IRS990/PYExcessBenefitTransInd | 0 | 0 |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 0 |
| IRS990/PYInvestmentIncomeAmt | 0 | 188184 |
| IRS990/PYOtherExpensesAmt | 0 | 9614551 |
| IRS990/PYOtherRevenueAmt | 0 | 303235 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 18219677 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | 1008997 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 8343132 |
| IRS990/PYTotalExpensesAmt | 0 | 17957683 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 18966680 |
| IRS990/QuidProQuoContributionsInd | 0 | 0 |
| IRS990/RcvFndsToPayPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | 956205 |
| IRS990/RegularMonitoringEnfrcInd | 0 | 1 |
| IRS990/RelatedEntityInd | 0 | 0 |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | 1 |
| IRS990/ReportInvestmentsOtherSecInd | 0 | 0 |
| IRS990/ReportLandBuildingEquipmentInd | 0 | 1 |
| IRS990/ReportOtherAssetsInd | 0 | 0 |
| IRS990/ReportOtherLiabilitiesInd | 0 | 1 |
| IRS990/ReportProgramRelatedInvstInd | 0 | 0 |
| IRS990/RevenueAmt | 0 | 21645316 |
| IRS990/SavingsAndTempCashInvstGrp/BOYAmt | 0 | 1054654 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 428427 |
| IRS990ScheduleA/SchoolInd | 0 | X |
| IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorNum | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine2 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt | 0 | RESTRICTED |
| IRS990/ScheduleBRequiredInd | 0 | 1 |
| IRS990ScheduleD/BuildingsGrp/BookValueAmt | 0 | 28388398 |
| IRS990ScheduleD/BuildingsGrp/DepreciationAmt | 0 | 8544184 |
| IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 36932582 |
| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 2949821 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 3053833 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 6003654 |
| IRS990ScheduleD/ExpensesNotReportedAmt | 0 | 988895 |
| IRS990ScheduleD/ExpensesNotRptFinclStmtAmt | 0 | 33490 |
| IRS990ScheduleD/ExpensesSubtotalAmt | 0 | 21546907 |
| IRS990ScheduleD/FootnoteTextInd | 0 | X |
| IRS990ScheduleD/InvestmentExpensesNotIncld2Amt | 0 | 33488 |
| IRS990ScheduleD/LandGrp/BookValueAmt | 0 | 637386 |
| IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt | 0 | 637386 |
| IRS990ScheduleD/NetUnrealizedGainsInvstAmt | 0 | -73284 |
| IRS990ScheduleD/OtherExpensesIncludedAmt | 0 | 988895 |
| IRS990ScheduleD/OtherExpensesNotIncludedAmt | 0 | 2 |
| IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt | 0 | 565588 |
| IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt | 0 | 402262 |
| IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 967850 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 2617917 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 1 | 84262 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | TUITION RECEIVED IN ADVANCE |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 1 | INTEREST RATE SWAP |
| IRS990ScheduleD/OtherRevenueAmt | 0 | -33488 |
| IRS990ScheduleD/OtherRevenuesNotIncludedAmt | 0 | -988895 |
| IRS990ScheduleD/RevenueNotReportedAmt | 0 | -106772 |
| IRS990ScheduleD/RevenueNotReportedFinclStmtAmt | 0 | -988895 |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | 23525496 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | THE ACADEMY IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THUS, THE ACADEMY IS NOT SUBJECT TO CORPORATE INCOME TAXES EXCEPT FOR TAXES ON UNRELATED BUSINESS INCOME. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA PRESCRIBE REQUIREMENTS FOR THE RECOGNITION OF INCOME TAXES IN CONSOLIDATED FINANCIAL STATEMENTS, AND THE AMOUNTS RECOGNIZED ARE AFFECTED BY INCOME TAX POSITIONS TAKEN BY THE ACADEMY IN ITS TAX RETURNS. THE ACADEMY'S STATUS AS AN EXEMPT ORGANIZATION IS DEFINED AS AN INCOME TAX POSITION UNDER THESE REQUIREMENTS. WHILE MANAGEMENT BELIEVES IT HAS COMPLIED WITH THE INTERNAL REVENUE CODE, THE SUSTAINABILITY OF SOME INCOME TAX POSITIONS TAKEN BY THE ACADEMY IN ITS TAX RETURNS MAY BE UNCERTAIN. THERE ARE MINIMUM THRESHOLDS OF LIKELIHOOD THAT UNCERTAIN TAX POSITIONS ARE REQUIRED TO MEET BEFORE BEING RECOGNIZED IN THE CONSOLIDATED FINANCIAL STATEMENTS. MANAGEMENT DOES NOT BELIEVE THAT THE ACADEMY HAS ANY MATERIAL UNCERTAIN TAX POSITIONS AT MAY 31, 2015. IN THE EVENT INTEREST AND PENALTIES WERE DUE RELATING TO AN UNSUSTAINABLE TAX POSITIONS, THEY WOULD BE TREATED AS A COMPONENT OF INCOME TAX EXPENSE. THE ACADEMY'S FEDERAL INCOME TAX RETURNS ARE SUBJECT TO EXAMINATION BY THE INTE NAL REVENUE SERVICE. AT MAY 31, 2015, THE FISCAL YEARS 2011 THROUGH 2014 FEDERAL TAX RETURNS ARE SUBJECT TO EXAMINATION. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 1 | INVESTMENT EXPENSES INCLUDED ON FORM 990, PART VIII, LINE 7B -33,488. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 2 | DIRECT FUNDRAISING EXPENSES -170,078. COST OF GOODS SOLD -818,817. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 3 | COST OF GOODS SOLD 818,817. DIRECT FUNDRASING EXPENSES 170,078. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 4 | RECONCILIATION ADJUSTMENT 2. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART X, LINE 2: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | PART XI, LINE 2D - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | PART XI, LINE 4B - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | PART XII, LINE 2D - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | PART XII, LINE 4B - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 32541193 |
| IRS990ScheduleD/TotalExpensesPerForm990Amt | 0 | 21580397 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 2702179 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 22536601 |
| IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt | 0 | 23418724 |
| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | 22535802 |
| IRS990ScheduleE/ComplianceWithRevProc7550Ind | 0 | 1 |
| IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceAthltProgInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceEducPlcyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceOtherActyInd | 0 | 0 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2015 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $38,753,454
- Liabilities
- $8,867,811
- Net assets
- $29,885,643
- Revenue
- $22,536,602
- Expenses
- $21,580,397
- Net income
- $956,205