Liabilities / Assets
88th percentile
Higher debt load relative to assets than 88% of similar nonprofits.
The Master'S Academy of Central Florida Inc
990 • Fiscal year 2016 • EIN 59-2663620
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.87x
Liabilities / Revenue
80th percentile
Higher debt load relative to revenue than 80% of similar nonprofits.
Net Margin
62nd percentile
Higher net margin than 62% of similar nonprofits.
Top Officer Pay
72nd percentile
Higher top officer pay than 72% of similar nonprofits.
Top officer pay equals 2.0% of source-year revenue.
Asset Growth
97th percentile
Faster asset growth than 97% of similar nonprofits.
Revenue Growth
93rd percentile
Faster revenue growth than 93% of similar nonprofits.
Balance Sheet
Assets
Up$27,299,827
Up $12,318,015 (+82%) from 2015
Net Assets
Up$3,643,268
Up $3,761,633 (+3178%) from 2015
Liabilities
Up$23,656,559
Up $8,556,382 (+57%) from 2015
Revenue And Expenses
Revenue
Up$18,209,893
Up $6,840,416 (+60%) from 2015
Expenses
Up$17,176,931
Up $5,296,918 (+45%) from 2015
Net Income
Up$1,032,962
Up $1,543,498 (+302%) from 2015
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2015 to Jun 30, 2016
- Signed
- Jan 19, 2017
- Return Version
- 2015v3.0
- Gross Receipts
- $18,510,975
Mission and Program Overview
Mission
Operation of a non-profit Christian preschool, elementary, and secondary school.
Operation of a non-profit Christian elementary and secondary school pursuing spiritual and academic excellence with Christian families by going the second mile.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Cash and Non-Interest-Bearing Accounts | $1,125,049 | $3,497,348 | ▲ $2,372,299 |
| Land, Buildings, and Equipment, Net | $1,322,718 | $1,428,785 | ▲ $106,067 |
| Accounts Receivable | $204,140 | $121,884 | ▼ $82,256 |
| Prepaid Expenses and Deferred Charges | $61,086 | $115,321 | ▲ $54,235 |
| Inventories for Sale or Use | $83,500 | $113,260 | ▲ $29,760 |
| Total Assets | $14,981,812 | $27,299,827 | ▲ $12,318,015 |
| Other Assets Total | $12,185,319 | $22,023,229 | ▲ $9,837,910 |
| Liabilities | |||
| Mortgage Notes Payable Secured by Investment Property | $11,590,919 | $18,725,671 | ▲ $7,134,752 |
| Deferred Revenue | $2,733,805 | $3,069,236 | ▲ $335,431 |
| Other Liabilities | $266,978 | $1,329,477 | ▲ $1,062,499 |
| Accounts Payable and Accrued Expenses | $508,475 | $532,175 | ▲ $23,700 |
| Total Liabilities | $15,100,177 | $23,656,559 | ▲ $8,556,382 |
| Net Assets / Fund Balance | |||
| Unrestricted Net Assets | $-118,365 | $3,643,268 | ▲ $3,761,633 |
| Total Net Assets Fund Balance | $-118,365 | $3,643,268 | ▲ $3,761,633 |
| Total Liabilities and Net Assets / Fund Balance | $14,981,812 | $27,299,827 | ▲ $12,318,015 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Equipment | $1,233,165 | $2,089,247 | $3,322,412 |
| Other Land Buildings | $195,620 | $767,573 | $963,193 |
| Other Assets Org | $63,920 | - | - |
Endowment Activity
| Period | Beginning | Contrib. | Gain/Loss | Other Uses | End |
|---|---|---|---|---|---|
| 2015 | $1,000,000 | - | ▲ $13,554 | $13,554 | $1,000,000 |
| 2014 | $1,000,000 | - | ▲ $18,155 | $18,155 | $1,000,000 |
| 2013 | $1,000,000 | - | ▲ $16,959 | $16,959 | $1,000,000 |
| 2012 | $1,000,000 | $1,000,000 | ▲ $10,938 | $10,938 | $1,000,000 |
| 2011 | $1,000,000 | - | ▲ $15,342 | $15,342 | $1,000,000 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Dr William Harris | President | FT | $253,453 | $113,659 | $367,112 |
| Dr Mitchell Salerno | Superintendent | FT | $172,184 | $36,216 | $208,400 |
| Stephen Denny | Director of Athletics | FT | $101,254 | $5,875 | $107,129 |
Board Members and Trustees
| Name | Title |
|---|---|
| Charles M Armstrong | Chair/Director (thru 05/16)/Administrator |
| William T Andersen | Chairman/Director |
| Joseph M Urian | Vice Chairman/Director |
| Diane Godfrey | Director (begin 05/16) |
| Trey Lewis | Director (begin 05/16) |
| Timothy Pursley | Treasurer/Director |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $267,816
- Program Service Revenue
- $11,472,354
- Investment Income
- $-15,152
- Other Revenue
- $6,484,875
- All Other Contributions
- $184,083
- Change in Net Assets
- $1,032,962
Noncash Contribution Practices
- Property subject to holding requirements
- No
- Reviewed unusual noncash gifts
- Yes
- Third parties used for noncash contributions
- No
Noncash Contributions
| Contribution Type | Contribution Count | Reported Amount | Valuation Method |
|---|---|---|---|
| Clothing and Household Goods | - | $225,871 | Fair Market Value |
| Books and Publications | - | $1,942 | Fair Market Value |
| Works of Art | 43 | $965 | Fair Market Value |
| Total Noncash Contributions | 43 | $228,778 | - |
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Grants and Similar Amounts Paid | $6,709,572 |
| Salaries, Compensation, and Employee Benefits | $6,388,472 |
| Other Expenses | $4,078,887 |
| Total Fundraising Expense | $36,116 |
| Professional Fundraising Fees | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Grants to Domestic Orgs | $6,492,600 | - | - | $6,492,600 |
| Other Salaries and Wages | $3,035,525 | $1,323,376 | - | $4,358,901 |
| Other Employee Benefits | $923,438 | $140,150 | - | $1,063,588 |
| Occupancy | $870,528 | $186,297 | - | $1,056,825 |
| Depreciation Depletion | $635,188 | $33,431 | - | $668,619 |
| Current Officers, Directors, Trustees, and Key Employees | $438,357 | $146,119 | - | $584,476 |
| Interest | - | $396,633 | - | $396,633 |
| Payroll Taxes | $244,865 | $81,436 | - | $326,301 |
| Grants to Domestic Individuals | $216,972 | - | - | $216,972 |
| Insurance | $133,659 | $54,523 | - | $188,182 |
| Office Expenses | $114,805 | $33,111 | - | $147,916 |
| Information Technology | $20,077 | $59,234 | - | $79,311 |
| Travel | $47,930 | $14,000 | - | $61,930 |
| Advertising | $19,249 | $2,505 | $29,919 | $51,673 |
| Pension Plan Contributions | $28,520 | - | - | $28,520 |
| Comp Disqual Persons | $18,740 | $7,946 | - | $26,686 |
| Fees for Services Accounting | - | $26,498 | - | $26,498 |
| Fees for Services Legal | - | $16,631 | - | $16,631 |
| Other Expenses | $6,927 | $9,573 | $6,197 | $6,927 |
| Total Functional Expenses | $14,609,352 | $2,531,463 | $36,116 | $17,176,931 |
International Activity
Grant and Assistance Recipients
| Recipient | Location | Category | Purpose | Amount |
|---|---|---|---|---|
| TMA Properties Foundation Inc | Oviedo, FL | 501(c)(3) | Building design and construction | $6,420,858 |
| TMA Heritage Foundation Inc | Oviedo, FL | 501(c)(3) | Investment of funds from dissolved deferred compensation accounts | $71,742 |
Fundraising, Events, and Gaming
- Fundraising activities
- Yes
- Gaming activities
- No
- Professional fundraiser used
- Yes
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Fundraising Direct Expenses | $53,622 |
| Fundraising Gross Income | $25,334 |
| Professional Fundraising Fees | $0 |
Fundraising Events
| Event | Gross Receipts | Gross Revenue | Direct Expenses | Net Income |
|---|---|---|---|---|
| Boosterthon | $41,396 | - | $22,249 | - |
| Bravo Fine Arts Fund. | $24,700 | $1,055 | $4,033 | $-2,978 |
| Total Events | $90,375 | $25,334 | $53,622 | $-28,288 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
- Subject to proxy tax
- No
Insider Transactions and Loans
Interested-Person Transactions
| Interested Party | Relationship | Description | Shared Revenue | Amount |
|---|---|---|---|---|
| Cynthia Harris | Family member of Dr. Harris (officer) | Reasonable and customary compensation paid for services performed. | No | $13,590 |
Debt and Bond Financing
Other Reported Liabilities
| Liability | Amount |
|---|---|
| Interest Rate Swap Contract | $1,329,477 |
Bond Issues
| Bond | Issuer | Issued | Issue Price | Purpose |
|---|---|---|---|---|
| A | Seminole County Industrial Development Authority | 2015-06-19 | $19,000,000 | See Part VI |
Bond Proceeds
| Bond | Total Proceeds | Spent | Retired | Issuance Costs |
|---|---|---|---|---|
| A | $19,000,000 | $10,924,374 | $274,329 | $198,132 |
Bond Financing Compliance
- No rebate due
- No
- Rebate not yet due
- No
- Form 8038-T filed
- No
- Gross proceeds invested
- No
- Gross proceeds invested in GIC
- No
- Exception to rebate
- Yes
- Corrective action procedures
- Yes
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
- Yes
- 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 B, line 11
“The Academy's top management official and top financial official each review the Form 990 prior to its filing with the IRS. A copy of the final Form 990 is also provided to the voting members of the Academy's governing body prior to its filing with the IRS.”
Form 990, Part VI, Section B, line 12C
“The Academy's conflict of interest policy is distributed to each member of the Academy's governing body, its officers and its key employees on an annual basis. Each such individual provides an annual disclosure statement indicating that they have received, read, understood and agreed to comply with the policy, certifying that: (1) they have no relationships or interests that present a conflict of interest, (2) they have one or more conflicts of interest that have been fully disclosed as required by the policy and have been properly administered in conformity with the policy, or (3) they have previously undisclosed conflicts of interest and disclosing the details of such conflicts. Any disclosure statements with previously undisclosed conflicts of interest are forwarded to appropriate Academy officials to take appropriate actions as required by the policy.”
Form 990, Part VI, Section B, line 15
“The Academy has adopted an executive compensation setting policy applicable to all disqualified persons, including the Academy's President, officers and key employees. Under the policy, the Board of Directors reviews and approves the compensation levels of all individuals subject to the policy. The deliberations and decisions of the Board are contemporaneously substantiated. The Board utilizes comparability data in its deliberations; updated comparability data is generally obtained every two to three years.”
Form 990, Part VI, Section C, line 19
“The Academy's Articles of Incorporation are publicly available online. The Academy's bylaws, conflicts of interest policy, and other policies are provided to those responsible for complying with them.”
Form 990, Part VIII, Line 11A:
“Change in interest in leasehold: $6,451,516”
Filing and Contact Details
Filer
- Filer Name
- The Master's Academy
- EIN
- 59-2663620
- Phone
- 4079712221
- Address
- 1500 Lukas Lane, Oviedo, FL 32765
Signing Officer
- Name
- Dr William Harris
- Title
- President
- Phone
- 4079712221
- Signed
- 2017-01-19
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Dr William Harris
- Formed
- 1986
- Legal Domicile
- Fl
- Voting Board Members
- 5
- Independent Board Members
- 5
- Employees
- 250
- Volunteers
- 200
Preparer
- Firm
- Batts Morrison Wales and Lee PA
- Address
- 801 North Orange Avenue Suite 800, Orlando, FL 32801
- Preparer
- Julia W James
- Phone
- 4077706000
Supplemental Narrative
Additional Explanations
Form 990, Part XI, line 9:
“Change in estimated fair value of interest rate swap contracts -1,062,499.”
Form 990, Part XII, Line 2C:
“The Academy's Board of Directors, or a committee of thereof, assumes responsibility for the oversight of the audit of its financial statements and the selection of an independent accountant. This process has not changed from the prior year.”
Form 990, Part XI, Line 8:
“The prior period adjustment of $3,791,170, as reported on Part XI, Line 8, is an adjustment to the beginning balance of the Academy's Interest in Leasehold asset to correct the asset balance as of the beginning of the tax year.”
Financial Statement Notes
Part V, Line 4:
“The $1 Million Permanent Endowment was granted to TMA Heritage Foundation, Inc. in June 2013, and the amounts listed in the current and two prior years include the amounts held by TMA Heritage Foundation, Inc. for the benefits, compensation, and resoures of the teaching faculty of the Academy.”
Part X, Line 2:
“The Academy is exempt from federal income tax under Section 501(a) of the Internal Revenue Code as an organization described in Section 501(c)(3) and from state income tax pursuant to Florida law. The Academy is further classified as a public charity and not a private foundation for federal tax purposes. The Academy has not incurred unrelated business income taxes. As a result, no income tax provision or liability has been provided for in the accompanying financial statements. The Academy has not taken any material uncertain tax positions for which the associated tax benefits may not be recognized under U.S. GAAP. Federal and state tax authorities may generally examine the Academy's income tax positions or (if applicable) returns for periods of approximately three to six years.”
Raw XML AppendixShowing 400 of 769 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/AccountsReceivableGrp/EOYAmt | 0 | 121884 |
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| IRS990/AdvertisingGrp/ManagementAndGeneralAmt | 0 | 2505 |
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| IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd | 0 | FL |
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| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 8 | 0 |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 0 | Chairman/Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 1 | Vice Chairman/Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 2 | Treasurer/Director |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 3 | Chair/Dir (thru 05/16)/Administrator |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 4 | Director (begin 05/16) |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 5 | Director (begin 05/16) |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 6 | President |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 7 | Superintendent |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 8 | Director of Athletics |
| IRS990/Form990ProvidedToGvrnBodyInd | 0 | 1 |
| IRS990/FormationYr | 0 | 1986 |
| IRS990/FormerOfcrEmployeesListedInd | 0 | 0 |
| IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd | 0 | X |
| IRS990/FSAuditedInd | 0 | 1 |
| IRS990/FundraisingActivitiesInd | 0 | 1 |
| IRS990/FundraisingAmt | 0 | 65041 |
| IRS990/FundraisingDirectExpensesAmt | 0 | 53622 |
| IRS990/FundraisingGrossIncomeAmt | 0 | 25334 |
| IRS990/GainOrLossGrp/OtherAmt | 0 | -15152 |
| IRS990/GamingActivitiesInd | 0 | 0 |
| IRS990/GoverningBodyVotingMembersCnt | 0 | 5 |
| IRS990/GrantAmt | 0 | 6709572 |
| IRS990/GrantsToDomesticIndividualsGrp/ProgramServicesAmt | 0 | 216972 |
| IRS990/GrantsToDomesticIndividualsGrp/TotalAmt | 0 | 216972 |
| IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt | 0 | 6492600 |
| IRS990/GrantsToDomesticOrgsGrp/TotalAmt | 0 | 6492600 |
| IRS990/GrantsToIndividualsInd | 0 | 1 |
| IRS990/GrantsToOrganizationsInd | 0 | 1 |
| IRS990/GrantToRelatedPersonInd | 0 | 0 |
| IRS990/GrossAmountSalesAssetsGrp/OtherAmt | 0 | 400 |
| IRS990/GrossReceiptsAmt | 0 | 18510975 |
| IRS990/GrossSalesOfInventoryAmt | 0 | 233344 |
| IRS990/GroupReturnForAffiliatesInd | 0 | 0 |
| IRS990/IncludeFIN48FootnoteInd | 0 | 1 |
| IRS990/IndependentAuditFinclStmtInd | 0 | 0 |
| IRS990/IndependentVotingMemberCnt | 0 | 5 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 3 |
| IRS990/IndoorTanningServicesInd | 0 | 0 |
| IRS990/InfoInScheduleOPartVIIIInd | 0 | X |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InfoInScheduleOPartXIIInd | 0 | X |
| IRS990/InfoInScheduleOPartXIInd | 0 | X |
| IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt | 0 | 59234 |
| IRS990/InformationTechnologyGrp/ProgramServicesAmt | 0 | 20077 |
| IRS990/InformationTechnologyGrp/TotalAmt | 0 | 79311 |
| IRS990/InsuranceGrp/ManagementAndGeneralAmt | 0 | 54523 |
| IRS990/InsuranceGrp/ProgramServicesAmt | 0 | 133659 |
| IRS990/InsuranceGrp/TotalAmt | 0 | 188182 |
| IRS990/InterestGrp/ManagementAndGeneralAmt | 0 | 396633 |
| IRS990/InterestGrp/TotalAmt | 0 | 396633 |
| IRS990/InventoriesForSaleOrUseGrp/BOYAmt | 0 | 83500 |
| IRS990/InventoriesForSaleOrUseGrp/EOYAmt | 0 | 113260 |
| IRS990/InvestmentInJointVentureInd | 0 | 0 |
| IRS990/InvestTaxExemptBondsInd | 0 | 0 |
| IRS990/IRPDocumentCnt | 0 | 68 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipAccumDeprecAmt | 0 | 2856820 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 1322718 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 1428785 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 4285605 |
| IRS990/LegalDomicileStateCd | 0 | FL |
| IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt | 0 | 15552 |
| 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 | Operation of a non-profit Christian elementary and secondary school. |
| IRS990/MoreThan5000KToIndividualsInd | 0 | 0 |
| IRS990/MoreThan5000KToOrgInd | 0 | 0 |
| IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt | 0 | 11590919 |
| IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt | 0 | 18725671 |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | -118365 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 3643268 |
| IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt | 0 | -15152 |
| IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt | 0 | -15152 |
| IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt | 0 | -28288 |
| IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt | 0 | -28288 |
| IRS990/NetIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt | 0 | 1436 |
| IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt | 0 | 1436 |
| IRS990/NetUnrelatedBusTxblIncmAmt | 0 | 0 |
| IRS990/NoncashContributionsAmt | 0 | 228778 |
| IRS990/NondeductibleContributionsInd | 0 | 0 |
| IRS990/OccupancyGrp/ManagementAndGeneralAmt | 0 | 186297 |
| IRS990/OccupancyGrp/ProgramServicesAmt | 0 | 870528 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 1056825 |
| IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt | 0 | 33111 |
| IRS990/OfficeExpensesGrp/ProgramServicesAmt | 0 | 114805 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 147916 |
| IRS990/OfficerMailingAddressInd | 0 | 0 |
| IRS990/OnBehalfOfIssuerInd | 0 | 0 |
| IRS990/OperateHospitalInd | 0 | 0 |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrganizationFollowsSFAS117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 12185319 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 22023229 |
| IRS990/OtherChangesInNetAssetsAmt | 0 | -1062499 |
| IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt | 0 | 140150 |
| IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt | 0 | 923438 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 1063588 |
| IRS990/OtherExpensesGrp/Desc | 0 | Auxiliary Activites |
| IRS990/OtherExpensesGrp/Desc | 1 | Instructional Expenses |
| IRS990/OtherExpensesGrp/Desc | 2 | Dues & Subscriptions |
| IRS990/OtherExpensesGrp/Desc | 3 | Miscellaneous |
| IRS990/OtherExpensesGrp/FundraisingAmt | 0 | 6197 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 0 | 9573 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 1079684 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | 247975 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 2 | 34313 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 3 | 6927 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 1095454 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 247975 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 34313 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | 6927 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 266978 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 1329477 |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 0 | 900099 |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 1 | 900099 |
| IRS990/OtherRevenueMiscGrp/Desc | 0 | See Sch O |
| IRS990/OtherRevenueMiscGrp/Desc | 1 | Miscellaneous |
| IRS990/OtherRevenueMiscGrp/ExclusionAmt | 0 | 6451516 |
| IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt | 0 | 60211 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 0 | 6451516 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 1 | 60211 |
| IRS990/OtherRevenueTotalAmt | 0 | 6511727 |
| IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt | 0 | 1323376 |
| IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt | 0 | 3035525 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 4358901 |
| IRS990/PartialLiquidationInd | 0 | 0 |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt | 0 | 81436 |
| IRS990/PayrollTaxesGrp/ProgramServicesAmt | 0 | 244865 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 326301 |
| IRS990/PensionPlanContributionsGrp/ProgramServicesAmt | 0 | 28520 |
| IRS990/PensionPlanContributionsGrp/TotalAmt | 0 | 28520 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 61086 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 115321 |
| IRS990/PrincipalOfficerNm | 0 | Dr William Harris |
| IRS990/PriorPeriodAdjustmentsAmt | 0 | 3791170 |
| IRS990/ProfessionalFundraisingInd | 0 | 1 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 0 | 611710 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 1 | 611710 |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | Tuition and Fees |
| IRS990/ProgramServiceRevenueGrp/Desc | 1 | Auxiliary Activities |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 10202879 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 1 | 1269475 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 10202879 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 1 | 1269475 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/PYContributionsGrantsAmt | 0 | 293034 |
| IRS990/PYExcessBenefitTransInd | 0 | 0 |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 1738744 |
| IRS990/PYInvestmentIncomeAmt | 0 | -64459 |
| IRS990/PYOtherExpensesAmt | 0 | 3978731 |
| IRS990/PYOtherRevenueAmt | 0 | 64491 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 11076411 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | -510536 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 6162538 |
| IRS990/PYTotalExpensesAmt | 0 | 11880013 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 11369477 |
| IRS990/QuidProQuoContributionsInd | 0 | 1 |
| IRS990/QuidProQuoContriDisclInd | 0 | 1 |
| IRS990/RcvFndsToPayPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | 1032962 |
| IRS990/RegularMonitoringEnfrcInd | 0 | 1 |
| IRS990/RelatedEntityInd | 0 | 1 |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | 1 |
| IRS990/RelatedOrganizationsAmt | 0 | 18692 |
| IRS990/ReportInvestmentsOtherSecInd | 0 | 0 |
| IRS990/ReportLandBuildingEquipmentInd | 0 | 1 |
| IRS990/ReportOtherAssetsInd | 0 | 1 |
| IRS990/ReportOtherLiabilitiesInd | 0 | 1 |
| IRS990/ReportProgramRelatedInvstInd | 0 | 0 |
| IRS990/RevenueAmt | 0 | 11534001 |
| 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/CYEndwmtFundGrp/BeginningYearBalanceAmt | 0 | 1000000 |
| IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt | 0 | 1000000 |
| IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt | 0 | 13554 |
| IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt | 0 | 13554 |
| IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt | 0 | 1000000 |
| IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt | 0 | 1000000 |
| IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt | 0 | 18155 |
| IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt | 0 | 18155 |
| IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt | 0 | 1000000 |
| IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt | 0 | 1000000 |
| IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt | 0 | 16959 |
| IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/OtherExpendituresAmt | 0 | 16959 |
| IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt | 0 | 1000000 |
| IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt | 0 | 1000000 |
| IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt | 0 | 1000000 |
| IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/GrantsOrScholarshipsAmt | 0 | 1000000 |
| IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt | 0 | 10938 |
| IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/OtherExpendituresAmt | 0 | 10938 |
| IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt | 0 | 1000000 |
| IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt | 0 | 1000000 |
| IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt | 0 | 15342 |
| IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/OtherExpendituresAmt | 0 | 15342 |
| IRS990ScheduleD/EndowmentsHeldRelatedOrgInd | 0 | 1 |
| IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd | 0 | 0 |
| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 1233165 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 2089247 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 3322412 |
| IRS990ScheduleD/FootnoteTextInd | 0 | X |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 0 | 88800 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 1 | 99364 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 2 | 21771145 |
| IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt | 3 | 63920 |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 0 | Debt Issuance Costs |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 1 | Loan Cost |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 2 | Interest in leasehold held by TMA Properties Foundation, Inc. |
| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 3 | Deposits |
| IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt | 0 | 195620 |
| IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt | 0 | 767573 |
| IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 963193 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 1329477 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | Interest Rate Swap Contract |
| IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct | 0 | 1.00000 |
| IRS990ScheduleD/RelatedOrgListSchRInd | 0 | 1 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | The $1 Million Permanent Endowment was granted to TMA Heritage Foundation, Inc. in June 2013, and the amounts listed in the current and two prior years include the amounts held by TMA Heritage Foundation, Inc. for the benefits, compensation, and resoures of the teaching faculty of the Academy. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 1 | The Academy is exempt from federal income tax under Section 501(a) of the Internal Revenue Code as an organization described in Section 501(c)(3) and from state income tax pursuant to Florida law. The Academy is further classified as a public charity and not a private foundation for federal tax purposes. The Academy has not incurred unrelated business income taxes. As a result, no income tax provision or liability has been provided for in the accompanying financial statements. The Academy has not taken any material uncertain tax positions for which the associated tax benefits may not be recognized under U.S. GAAP. Federal and state tax authorities may generally examine the Academy's income tax positions or (if applicable) returns for periods of approximately three to six years. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Part V, Line 4: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Part X, Line 2: |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 1428785 |
| IRS990ScheduleD/TotalBookValueOtherAssetsAmt | 0 | 22023229 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 1329477 |
| IRS990ScheduleE/ComplianceWithRevProc7550Ind | 0 | 1 |
| IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceAthltProgInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceEducPlcyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceOtherActyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceSchsInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd | 0 | 0 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2016 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $27,299,827
- Liabilities
- $23,656,559
- Net assets
- $3,643,268
- Revenue
- $18,209,893
- Expenses
- $17,176,931
- Net income
- $1,032,962