Civic Intelligence

Montverde Academy Inc

990 • Fiscal year 2016 • EIN 59-0657329

Jun 01, 2015 to May 31, 2016 • Filed on Apr 04, 2017

Organization ProfileWWW.MONTVERDE.ORG

View Organization Page

17235 7th StreetMontverde, FL 34756-3210

(407) 469-2561

Siviq Scores

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

Liabilities / Assets

44th percentile

0.21x

Higher debt load relative to assets than 44% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Liabilities / Revenue

51st percentile

0.34x

Higher debt load relative to revenue than 51% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Net Margin

70th percentile

9.4%

Higher net margin than 70% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Top Officer Pay

70th percentile

$346,500

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Asset Growth

60th percentile

4.7%

Faster asset growth than 60% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Revenue Growth

74th percentile

12%

Faster revenue growth than 74% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets44th percentile

Assets

Up

$40,573,930

Up $1,820,476 (+4.7%) from 2015

Net Assets

Up

$32,048,888

Up $2,163,245 (+7.2%) from 2015

Liabilities

Down

$8,525,042

Down $342,769 (-3.9%) from 2015

Revenue And Expenses
Liabilities / Revenue51st percentileNet Margin70th percentile

Revenue

Up

$25,263,763

Up $2,727,161 (+12%) from 2015

Expenses

Up

$22,889,419

Up $1,309,022 (+6.1%) from 2015

Net Income

Up

$2,374,344

Up $1,418,139 (+148%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth60th percentile

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

$80M$60M$40M$20M$0Assets 2011: $28,151,510Liabilities 2011: $3,538,336Net Assets 2011: $24,613,1742011Assets 2012: $35,589,001Liabilities 2012: $9,579,635Net Assets 2012: $26,009,3662012Assets 2013: $36,348,762Liabilities 2013: $8,582,651Net Assets 2013: $27,766,1112013Assets 2014: $37,450,845Liabilities 2014: $8,448,124Net Assets 2014: $29,002,7212014Assets 2015: $38,753,454Liabilities 2015: $8,867,811Net Assets 2015: $29,885,6432015Assets 2016: $40,573,930Liabilities 2016: $8,525,042Net Assets 2016: $32,048,8882016Assets 2017: $42,019,766Liabilities 2017: $8,209,306Net Assets 2017: $33,810,4602017Assets 2018: $44,355,847Liabilities 2018: $8,702,957Net Assets 2018: $35,652,8902018Assets 2019: $45,146,113Liabilities 2019: $8,907,480Net Assets 2019: $36,238,6332019Assets 2020: $54,309,748Liabilities 2020: $16,661,797Net Assets 2020: $37,647,9512020Assets 2021: $55,936,225Liabilities 2021: $11,939,282Net Assets 2021: $43,996,9432021Assets 2022: $55,272,335Liabilities 2022: $10,897,142Net Assets 2022: $44,375,1932022Assets 2023: $54,825,619Liabilities 2023: $11,065,193Net Assets 2023: $43,760,4262023Assets 2024: $60,061,633Liabilities 2024: $14,597,155Net Assets 2024: $45,464,4782024

Highlighted filing

2016

Assets$40,573,930
Liabilities$8,525,042
Net Assets$32,048,888
Open 2016 Filing

Operations Trend

Revenue Growth74th percentile

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

$40M$30M$20M$10M$0-$10MExpenses 2011: $12,202,9202011Expenses 2012: $14,934,6322012Expenses 2013: $16,628,5842013Revenue 2014: $18,966,681Expenses 2014: $17,957,685Net Income 2014: $1,008,9962014Revenue 2015: $22,536,602Expenses 2015: $21,580,397Net Income 2015: $956,2052015Revenue 2016: $25,263,763Expenses 2016: $22,889,419Net Income 2016: $2,374,3442016Revenue 2017: $26,057,795Expenses 2017: $24,555,858Net Income 2017: $1,501,9372017Revenue 2018: $30,056,970Expenses 2018: $27,889,206Net Income 2018: $2,167,7642018Revenue 2019: $29,792,162Expenses 2019: $29,073,741Net Income 2019: $718,4212019Revenue 2020: $32,007,011Expenses 2020: $30,673,548Net Income 2020: $1,333,4632020Revenue 2021: $32,698,439Expenses 2021: $27,086,495Net Income 2021: $5,611,9442021Revenue 2022: $32,301,917Expenses 2022: $30,642,600Net Income 2022: $1,659,3172022Revenue 2023: $33,466,562Expenses 2023: $34,229,815Net Income 2023: -$763,2532023Revenue 2024: $36,111,004Expenses 2024: $35,824,722Net Income 2024: $286,2822024

Highlighted filing

2016

Revenue$25,263,763
Expenses$22,889,419
Net Income$2,374,344
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2015 to May 31, 2016
Signed
Apr 4, 2017
Return Version
2015v3.0
Gross Receipts
$30,109,231
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
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$32,541,193$35,900,028▲ $3,358,835
Investments in Publicly Traded Securities$5,204,886$3,256,221▼ $1,948,665
Savings and Temporary Cash Investments$428,427$780,602▲ $352,175
Inventories for Sale or Use$261,652$326,523▲ $64,871
Accounts Receivable$93,486$111,297▲ $17,811
Intangible Assets$59,670$56,160▼ $3,510
Total Assets$38,753,454$40,573,930▲ $1,820,476
Other Assets Total$164,140$143,099▼ $21,041
Liabilities
Tax Exempt Bond Liabilities$5,355,000$5,040,000▼ $315,000
Other Liabilities$2,702,179$2,709,292▲ $7,113
Accounts Payable and Accrued Expenses$810,632$775,750▼ $34,882
Total Liabilities$8,867,811$8,525,042▼ $342,769
Net Assets / Fund Balance
Unrestricted Net Assets$29,729,003$31,905,789▲ $2,176,786
Permanently Rstr Net Assets$156,640$143,099▼ $13,541
Total Net Assets Fund Balance$29,885,643$32,048,888▲ $2,163,245
Total Liabilities and Net Assets / Fund Balance$38,753,454$40,573,930▲ $1,820,476

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$31,571,618$9,783,987$41,355,605
Equipment$2,997,689$3,883,281$6,880,970
Other Land Buildings$564,848$543,096$1,107,944
Land$765,873-$765,873
Compensation and Service Providers
Top Officer Pay70th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kasey KesselringHeadmasterFT$315,000$31,500$346,500
Kevin BoyleHead Basketball Coach/DirectorFT$170,000$33,500$203,500
Bradley LongAdministrationFT$121,618$12,162$133,780
Michael W Potempa JrMiddle School InstructorFT$105,366$10,537$115,903
Walter L Stephens JrChairman/treasurerPT$35,000-$35,000

Board Members and Trustees

NameTitle
Sandra O StephensVice Chairman
Gregory L NelsonTrustee
Jon FrereTrustee
Michael MasonTrustee
S Renee LundyTrustee
T Scott OhmstedeTrustee
Tim J BachTrustee
Lori SpechtSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$257,528
Program Service Revenue
$24,542,320
Investment Income
$160,693
Other Revenue
$303,222
All Other Contributions
$257,528
Change in Net Assets
$2,374,344

Audited Revenue Reconciliation

Revenue per Audited Statements
$26,190,253
Revenue Not Reported on Financial Statements
$-926,490
Revenue Not Reported on Form 990
$-232,632
Other Revenue Adjustments
$-926,490
Total Revenue per Audited Statements
$25,957,621
Total Revenue per Form 990
$25,263,763
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$13,014,105
Salaries, Compensation, and Employee Benefits$9,875,314
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$7,281,709$809,079-$8,090,788
All Other Expenses$2,389,016$91,473-$2,480,489
Depreciation Depletion$2,183,917$242,657-$2,426,574
Insurance$1,496,975$166,331-$1,663,306
Pension Plan Contributions$694,834$77,204-$772,038
Other Expenses$747,355$94,938-$747,355
Payroll Taxes$596,239$66,249-$662,488
Occupancy$525,595$58,399-$583,994
Current Officers, Directors, Trustees, and Key Employees$350,000--$350,000
Travel-$332,597-$332,597
Office Expenses$219,331--$219,331
Advertising$188,127--$188,127
Interest-$125,264-$125,264
Fees for Services Other$69,386--$69,386
Fees for Services Accounting$39,650--$39,650
Fees for Services Legal$34,553--$34,553
Fees for Service Investment Mgmnt Fees-$21,532-$21,532
Total Functional Expenses$20,803,696$2,085,723$0$22,889,419

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$23,794,372
Total Expenses per Form 990$22,889,419
Expenses per Audited Statements$22,867,882
Expenses Not Reported on Form 990$926,490
Expenses Not Reported on Financial Statements$21,537
Other Expense Adjustments$5
International Activity

International Summary

Offices
1
Employees
0
Spending
$53,665

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

RegionActivityServicesOfficesEmployeesSpending
East Asia and the Pacific -Program ServicesMVA CONSULTING, LLC OPERATES IN CHINA CARRYING OUT MONTVERDE ACADEMY, INC'S RECRUITING INTERESTS.1-$53,665
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$225,356
Fundraising Direct Expenses$152,207
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Celebrating Education$225,356$225,356$152,207$73,149
Total Events$225,356$225,356$152,207$73,149
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tuition Received in Advance$2,668,691
Interest Rate Swap$40,601

Bond Issues

BondIssuerIssuedIssue PricePurpose
BFlorida Development Finance Corporation - Refunding Rev Bonds Series 2012b2012-04-11$5,060,000SEE SCHEDULE O.
AFlorida Development Finance Corporation - Refunding Rev Bonds Series 2012a2012-04-11$1,240,000SEE SCHEDULE O.

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance 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 34756-3210

Signing Officer

Name
Walter L Stephens Jr
Title
Chairman
Phone
4076549841
Signed
2017-04-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Walter L Stephens Jr
Formed
1912
Legal Domicile
Fl
Voting Board Members
9
Independent Board Members
9
Employees
300
Volunteers
0

Preparer

Firm
Withum Smith Brown Pc
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 726,102. Management and general expenses 0. Fundraising expenses 0. Total expenses 726,102. Activities: program service expenses 596,201. Management and general expenses 0. Fundraising expenses 0. Total expenses 596,201. Admissions: program service expenses 232,829. Management and general expenses 0. Fundraising expenses 0. Total expenses 232,829. Transportation: program service expenses 231,946. Management and general expenses 0. Fundraising expenses 0. Total expenses 231,946. Miscellaneous: program service expenses 225,453. Management and general expenses 0. Fundraising expenses 0. Total expenses 225,453. Bad debts: program service expenses 162,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 162,000. Campus security: program service expenses 111,660. Management and general expenses 0. Fundraising expenses 0. Total expenses 111,660. Alumni development: program service expenses 0. Management and general expenses 91,473. Fundraising expenses 0. Total expenses 91,473. Faculty recruitment: program service expenses 48,577. Management and general expenses 0. Fundraising expenses 0. Total expenses 48,577. Dues and association conference: program service expenses 38,786. Management and general expenses 0. Fundraising expenses 0. Total expenses 38,786. Library: program service expenses 15,462. Management and general expenses 0. Fundraising expenses 0. Total expenses 15,462.”

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, 2016. 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.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Investment expenses included on form 990, part viii, line 7b -21,532.”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“Direct fundraising expenses -152,207. Cost of goods sold -774,283.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Cost of goods sold 774,283. Direct fundrasing expenses 152,207.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Reconciliation adjustment 5.”

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IRS990/ActivityOrMissionDesc0BASED 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/Form990PartVIISectionAGrp/PersonNm0WALTER L STEPHENS JR
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IRS990/Form990PartVIISectionAGrp/PersonNm6MICHAEL MASON
IRS990/Form990PartVIISectionAGrp/PersonNm7GREGORY L NELSON
IRS990/Form990PartVIISectionAGrp/PersonNm8T SCOTT OHMSTEDE
IRS990/Form990PartVIISectionAGrp/PersonNm9KASEY KESSELRING
IRS990/Form990PartVIISectionAGrp/PersonNm10KEVIN BOYLE
IRS990/Form990PartVIISectionAGrp/PersonNm11BRADLEY LONG
IRS990/Form990PartVIISectionAGrp/PersonNm12MICHAEL W POTEMPA JR
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt9315000
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10185000
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt11121618
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt12105366
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIRMAN/TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt4TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9HEADMASTER
IRS990/Form990PartVIISectionAGrp/TitleTxt10HEAD BASKETBALL COACH/DIR
IRS990/Form990PartVIISectionAGrp/TitleTxt11ADMINISTRATION
IRS990/Form990PartVIISectionAGrp/TitleTxt12MIDDLE SCHOOL INSTRUCTOR
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01912
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd01
IRS990/FundraisingDirectExpensesAmt0152207
IRS990/FundraisingGrossIncomeAmt0225356
IRS990/GainOrLossGrp/OtherAmt0-55939
IRS990/GainOrLossGrp/SecuritiesAmt0106136
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt09
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/OtherAmt022500
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt03946675
IRS990/GrossReceiptsAmt030109231
IRS990/GrossSalesOfInventoryAmt0849699
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt09
IRS990/IndivRcvdGreaterThan100KCnt04
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIXInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InsuranceGrp/ManagementAndGeneralAmt0166331
IRS990/InsuranceGrp/ProgramServicesAmt01496975
IRS990/InsuranceGrp/TotalAmt01663306
IRS990/IntangibleAssetsGrp/BOYAmt059670
IRS990/IntangibleAssetsGrp/EOYAmt056160
IRS990/InterestGrp/ManagementAndGeneralAmt0125264
IRS990/InterestGrp/TotalAmt0125264
IRS990/InventoriesForSaleOrUseGrp/BOYAmt0261652
IRS990/InventoriesForSaleOrUseGrp/EOYAmt0326523
IRS990/InvestmentIncomeGrp/ExclusionAmt0110496
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0110496
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsPubTradedSecGrp/BOYAmt05204886
IRS990/InvestmentsPubTradedSecGrp/EOYAmt03256221
IRS990/InvestTaxExemptBondsInd00
IRS990/IRPDocumentCnt023
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt014210364
IRS990/LandBldgEquipBasisNetGrp/BOYAmt032541193
IRS990/LandBldgEquipBasisNetGrp/EOYAmt035900028
IRS990/LandBldgEquipCostOrOtherBssAmt050110392
IRS990/LegalDomicileStateCd0FL
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt078439
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt03840539
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MiscellaneousRevenueGrp/ExclusionAmt040
IRS990/MiscellaneousRevenueGrp/TotalRevenueColumnAmt040
IRS990/MissionDesc0BASED 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/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt029885643
IRS990/NetAssetsOrFundBalancesEOYAmt032048888
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt050197
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt050197
IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt073149
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt073149
IRS990/NetIncomeOrLossGrp/ExclusionAmt040859
IRS990/NetIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt034557
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt075416
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0-211099
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt058399
IRS990/OccupancyGrp/ProgramServicesAmt0525595
IRS990/OccupancyGrp/TotalAmt0583994
IRS990/OfficeExpensesGrp/ProgramServicesAmt0219331
IRS990/OfficeExpensesGrp/TotalAmt0219331
IRS990/OfficerMailingAddressInd00
IRS990/OnBehalfOfIssuerInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0164140
IRS990/OtherAssetsTotalGrp/EOYAmt0143099
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0ATHLETICS
IRS990/OtherExpensesGrp/Desc1DINING ROOM SUPPLIES
IRS990/OtherExpensesGrp/Desc2EQUIPMENT RENTAL AND MA
IRS990/OtherExpensesGrp/Desc3INSTRUCTIONAL EXPENSE
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt094938
IRS990/OtherExpensesGrp/ProgramServicesAmt01797311
IRS990/OtherExpensesGrp/ProgramServicesAmt11335253
IRS990/OtherExpensesGrp/ProgramServicesAmt2854445
IRS990/OtherExpensesGrp/ProgramServicesAmt3747355
IRS990/OtherExpensesGrp/TotalAmt01797311
IRS990/OtherExpensesGrp/TotalAmt11335253
IRS990/OtherExpensesGrp/TotalAmt2949383
IRS990/OtherExpensesGrp/TotalAmt3747355
IRS990/OtherLiabilitiesGrp/BOYAmt02702179
IRS990/OtherLiabilitiesGrp/EOYAmt02709292
IRS990/OtherRevenueMiscGrp/BusinessCd0611600
IRS990/OtherRevenueMiscGrp/BusinessCd1611600
IRS990/OtherRevenueMiscGrp/BusinessCd2611600
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS INCOME
IRS990/OtherRevenueMiscGrp/Desc1KEYS/FACILITY
IRS990/OtherRevenueMiscGrp/Desc2WASHER/DRYER REVENUE
IRS990/OtherRevenueMiscGrp/ExclusionAmt071755
IRS990/OtherRevenueMiscGrp/ExclusionAmt146177
IRS990/OtherRevenueMiscGrp/ExclusionAmt236685
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt071755
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt146177
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt236685
IRS990/OtherRevenueTotalAmt0154657
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0809079
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt07281709
IRS990/OtherSalariesAndWagesGrp/TotalAmt08090788
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt066249
IRS990/PayrollTaxesGrp/ProgramServicesAmt0596239
IRS990/PayrollTaxesGrp/TotalAmt0662488
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt077204
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0694834
IRS990/PensionPlanContributionsGrp/TotalAmt0772038
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt0156640
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt0143099
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0WALTER L STEPHENS JR
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611600
IRS990/ProgramServiceRevenueGrp/Desc0TUITION, ROOM & BOARD
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt024542320
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt024542320
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0433302
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0149196
IRS990/PYOtherExpensesAmt012305953
IRS990/PYOtherRevenueAmt0329458
IRS990/PYProgramServiceRevenueAmt021624646
IRS990/PYRevenuesLessExpensesAmt0956205
IRS990/PYSalariesCompEmpBnftPaidAmt09274444
IRS990/PYTotalExpensesAmt021580397
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt022536602
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt02374344
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt024576877
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0428427
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0780602
IRS990ScheduleA/SchoolInd0X
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt031571618
IRS990ScheduleD/BuildingsGrp/DepreciationAmt09783987
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt041355605
IRS990ScheduleD/EquipmentGrp/BookValueAmt02997689
IRS990ScheduleD/EquipmentGrp/DepreciationAmt03883281
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt06880970
IRS990ScheduleD/ExpensesNotReportedAmt0926490
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt021537
IRS990ScheduleD/ExpensesSubtotalAmt022867882
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt021532
IRS990ScheduleD/LandGrp/BookValueAmt0765873
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0765873
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0-211100
IRS990ScheduleD/OtherExpensesIncludedAmt0926490
IRS990ScheduleD/OtherExpensesNotIncludedAmt05
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0564848
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0543096
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt01107944
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02668691
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt140601
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TUITION RECEIVED IN ADVANCE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1INTEREST RATE SWAP
IRS990ScheduleD/OtherRevenueAmt0-21532
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0-926490
IRS990ScheduleD/RevenueNotReportedAmt0-232632
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0-926490
IRS990ScheduleD/RevenueSubtotalAmt026190253
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE 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, 2016. 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.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1INVESTMENT EXPENSES INCLUDED ON FORM 990, PART VIII, LINE 7B -21,532.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2DIRECT FUNDRAISING EXPENSES -152,207. COST OF GOODS SOLD -774,283.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3COST OF GOODS SOLD 774,283. DIRECT FUNDRASING EXPENSES 152,207.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt4RECONCILIATION ADJUSTMENT 5.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc4PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt035900028
IRS990ScheduleD/TotalExpensesPerForm990Amt022889419
IRS990ScheduleD/TotalLiabilityAmt02709292
IRS990ScheduleD/TotalRevenuePerForm990Amt025263763
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt025957621
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt023794372
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$40,573,930
Liabilities
$8,525,042
Net assets
$32,048,888
Revenue
$25,263,763
Expenses
$22,889,419
Net income
$2,374,344
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$60.1$14.6$45.5$36.1$35.8$0.29
2023Detailed filing. Detailed filing data is available for this year.$54.8$11.1$43.8$33.5$34.2$0.76
2022Detailed filing. Detailed filing data is available for this year.$55.3$10.9$44.4$32.3$30.6$1.66
2021Detailed filing. Detailed filing data is available for this year.$55.9$11.9$44.0$32.7$27.1$5.61
2020Detailed filing. Detailed filing data is available for this year.$54.3$16.7$37.6$32.0$30.7$1.33
2019Detailed filing. Detailed filing data is available for this year.$45.1$8.91$36.2$29.8$29.1$0.72
2018Detailed filing. Detailed filing data is available for this year.$44.4$8.70$35.7$30.1$27.9$2.17
2017Detailed filing. Detailed filing data is available for this year.$42.0$8.21$33.8$26.1$24.6$1.50
2016Detailed filing. Detailed filing data is available for this year.$40.6$8.53$32.0$25.3$22.9$2.37
2015Detailed filing. Detailed filing data is available for this year.$38.8$8.87$29.9$22.5$21.6$0.96
2014Detailed filing. Detailed filing data is available for this year.$37.5$8.45$29.0$19.0$18.0$1.01
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$36.3$8.58$27.8$16.6
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$35.6$9.58$26.0$14.9
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$28.2$3.54$24.6$12.2