Civic Intelligence

The Master'S Academy of Central Florida Inc

990 • Fiscal year 2020 • EIN 59-2663620

Jul 01, 2019 to Jun 30, 2020 • Filed on Oct 28, 2020

Organization Profilewww.mastersacademy.org

View Organization Page

1500 Lukas LaneOviedo, FL 32765

(407) 971-2221

Siviq Scores

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

Liabilities / Assets

84th percentile

0.75x

Higher debt load relative to assets than 84% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Liabilities / Revenue

79th percentile

1.25x

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

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Net Margin

68th percentile

11%

Higher net margin than 68% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Top Officer Pay

70th percentile

$346,074

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 2.2% of source-year revenue.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Asset Growth

12th percentile

-4.3%

Faster asset growth than 12% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Revenue Growth

45th percentile

0.8%

Faster revenue growth than 45% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets84th percentile

Assets

Down

$26,511,377

Down $1,199,193 (-4.3%) from 2019

Net Assets

Down

$6,585,989

Down $839,526 (-11%) from 2019

Liabilities

Down

$19,925,388

Down $359,667 (-1.8%) from 2019

Revenue And Expenses
Liabilities / Revenue79th percentileNet Margin68th percentile

Revenue

Up

$15,896,410

Up $132,285 (+0.8%) from 2019

Expenses

Up

$14,069,264

Up $506,214 (+3.7%) from 2019

Net Income

Down

$1,827,146

Down $373,929 (-17%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth12th percentile

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

$30M$20M$10M$0-$10MAssets 2010: $23,711,434Liabilities 2010: $17,884,329Net Assets 2010: $5,827,1052010Assets 2011: $23,582,933Liabilities 2011: $17,593,488Net Assets 2011: $5,989,4452011Assets 2012: $23,514,136Liabilities 2012: $17,419,757Net Assets 2012: $6,094,3792012Assets 2013: $15,813,752Liabilities 2013: $16,812,375Net Assets 2013: -$998,6232013Assets 2014: $15,062,068Liabilities 2014: $14,342,908Net Assets 2014: $719,1602014Assets 2015: $14,981,812Liabilities 2015: $15,100,177Net Assets 2015: -$118,3652015Assets 2016: $27,299,827Liabilities 2016: $23,656,559Net Assets 2016: $3,643,2682016Assets 2017: $25,311,491Liabilities 2017: $21,512,511Net Assets 2017: $3,798,9802017Assets 2018: $26,105,260Liabilities 2018: $20,245,716Net Assets 2018: $5,859,5442018Assets 2019: $27,710,570Liabilities 2019: $20,285,055Net Assets 2019: $7,425,5152019Assets 2020: $26,511,377Liabilities 2020: $19,925,388Net Assets 2020: $6,585,9892020Assets 2021: $24,889,126Liabilities 2021: $19,134,696Net Assets 2021: $5,754,4302021Assets 2022: $26,482,967Liabilities 2022: $17,382,632Net Assets 2022: $9,100,3352022Assets 2023: $25,998,417Liabilities 2023: $16,548,625Net Assets 2023: $9,449,7922023Assets 2024: $26,153,720Liabilities 2024: $15,654,403Net Assets 2024: $10,499,3172024Assets 2025: $25,967,622Liabilities 2025: $14,704,674Net Assets 2025: $11,262,9482025

Highlighted filing

2020

Assets$26,511,377
Liabilities$19,925,388
Net Assets$6,585,989
Open 2020 Filing

Operations Trend

Revenue Growth45th percentile

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

$30M$20M$10M$0-$10MExpenses 2010: $7,662,2592010Revenue 2011: $8,604,861Expenses 2011: $8,442,521Net Income 2011: $162,3402011Expenses 2012: $8,954,8042012Expenses 2013: $16,853,3152013Revenue 2014: $11,556,184Expenses 2014: $9,957,084Net Income 2014: $1,599,1002014Revenue 2015: $11,369,477Expenses 2015: $11,880,013Net Income 2015: -$510,5362015Revenue 2016: $18,209,893Expenses 2016: $17,176,931Net Income 2016: $1,032,9622016Revenue 2017: $14,123,499Expenses 2017: $14,849,196Net Income 2017: -$725,6972017Revenue 2018: $14,200,023Expenses 2018: $12,692,774Net Income 2018: $1,507,2492018Revenue 2019: $15,764,125Expenses 2019: $13,563,050Net Income 2019: $2,201,0752019Revenue 2020: $15,896,410Expenses 2020: $14,069,264Net Income 2020: $1,827,1462020Revenue 2021: $15,280,881Expenses 2021: $16,358,379Net Income 2021: -$1,077,4982021Revenue 2022: $18,246,673Expenses 2022: $16,610,482Net Income 2022: $1,636,1912022Revenue 2023: $19,059,856Expenses 2023: $19,212,874Net Income 2023: -$153,0182023Revenue 2024: $20,713,896Expenses 2024: $19,906,856Net Income 2024: $807,0402024Revenue 2025: $21,814,947Expenses 2025: $20,043,024Net Income 2025: $1,771,9232025

Highlighted filing

2020

Revenue$15,896,410
Expenses$14,069,264
Net Income$1,827,146
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Oct 28, 2020
Return Version
2019v5.1
Gross Receipts
$15,919,590
Mission and Program Overview

Mission

Operation of a non-profit Christian preschool, elementary, and secondary school.

Operation of a non-profit Christian preschool, elementary, and secondary school pursuing spiritual and academic excellence with Christian families by going the second mile.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$2,053,518$3,050,590▲ $997,072
Land, Buildings, and Equipment, Net$1,771,133$1,695,658▼ $75,475
Prepaid Expenses and Deferred Charges$113,201$141,643▲ $28,442
Accounts Receivable$81,378$78,439▼ $2,939
Inventories for Sale or Use$20,823$29,518▲ $8,695
Total Assets$27,710,570$26,511,377▼ $1,199,193
Other Assets Total$23,670,517$21,515,529▼ $2,154,988
Liabilities
Mortgage Notes Payable Secured by Investment Property$16,131,044$15,432,614▼ $698,430
Deferred Revenue$2,993,070$2,511,610▼ $481,460
Other Liabilities$529,857$1,184,898▲ $655,041
Accounts Payable and Accrued Expenses$631,084$796,266▲ $165,182
Total Liabilities$20,285,055$19,925,388▼ $359,667
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$7,405,515$6,585,989▼ $819,526
Net Assets With Donor Restrictions$20,000$0▼ $20,000
Total Net Assets Fund Balance$7,425,515$6,585,989▼ $839,526
Total Liabilities and Net Assets / Fund Balance$27,710,570$26,511,377▼ $1,199,193

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,369,960$2,546,943$3,916,903
Other Land Buildings$325,698$742,095$1,067,793
Other Assets Org$55,845--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$1,000,000-▲ $43,662$43,662$1,000,000
2018$1,000,000-▲ $16,167$16,167$1,000,000
2017$1,000,000-▲ $37,510$37,510$1,000,000
2016$1,000,000-▲ $17,985$17,985$1,000,000
2015$1,000,000-▲ $13,554$13,554$1,000,000
Compensation and Service Providers
Top Officer Pay70th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dr William HarrisPresidentFT$312,050$34,024$346,074
Dr Dana DionneAssociate Head of SchoolFT$106,167$11,564$117,731
Charles M ArmstrongAdministratorFT$100,468$15,665$116,133

Board Members and Trustees

NameTitle
William T AndersenChairman/Director
Joseph M UrianVice Chairman/Secretary/Director
Diane GodfreyDirector
Trey LewisDirector
Timothy PursleyTreasurer/Director

Highest Paid Contractors

ContractorServicesLocationCompensation
Rugby Commercial CleaningCustodialPO Box 540810, Orlando, FL 32854$138,142
Revenue and Support

Revenue Composition

Contributions and Grants
$1,464,163
Program Service Revenue
$14,444,077
Investment Income
$-13,230
Other Revenue
$1,400
All Other Contributions
$13,940
Change in Net Assets
$1,827,146
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$8,554,209
Other Expenses$4,109,294
Grants and Similar Amounts Paid$1,405,761
Total Fundraising Expense$11,045
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$4,248,256$1,534,432-$5,782,688
Other Employee Benefits$1,608,070$122,110-$1,730,180
Occupancy$1,287,573$31,793-$1,319,366
Grants to Domestic Orgs$1,152,441--$1,152,441
Interest-$502,241-$502,241
Payroll Taxes$326,885$103,265-$430,150
Current Officers, Directors, Trustees, and Key Employees$264,352$88,117-$352,469
Depreciation Depletion$281,032$14,791-$295,823
Grants to Domestic Individuals$253,320--$253,320
Insurance$146,307$78,649-$224,956
Comp Disqual Persons$118,513$39,504-$158,017
Office Expenses$107,186$24,211-$131,397
Pension Plan Contributions$100,705--$100,705
Information Technology$25,536$60,021-$85,557
Other Expenses$60,258$54,193$6,022$60,258
Fees for Services Legal-$48,143-$48,143
Travel$37,415$6,915-$44,330
Fees for Services Accounting-$41,686-$41,686
Advertising$21,476-$5,023$26,499
Total Functional Expenses$11,282,067$2,776,152$11,045$14,069,264
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
TMA Heritage Foundation IncOviedo, FL501(c)(3)Investment of non-operating funds$900,000
TMA Properties Foundation IncOviedo, FL501(c)(3)Capital expenditures$252,441
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$8,873
Fundraising Direct Expenses$7,880
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Kristin ChadwickDaughter of OfficerCompensationNo$26,695
Heidi AndersenSpouse of Board MemberCompensationNo$13,508
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Interest Rate Swap Contract$1,184,898

Bond Issues

BondIssuerIssuedIssue PricePurpose
ASeminole County Industr Devel Authority2015-06-19$19,000,000See Part VI

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$19,000,000$10,924,374$3,438,967$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 35% controlled entity
No
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 11B

“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. 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 VI:

“An audit of the Academy's financial statements is conducted annually by an independent certified public accounting firm, which has resulted in the issuance of an unqualified opinion. In addition, the Academy is a fully accredited member of the Evangelical Council for Financial Accountability (ECFA) and, as such, subscribes to ECFA's Seven Standards of Responsible Stewardship addressing: (1) operation in conformity with the Academy's evangelical Christian doctrinal statement, (2) oversight by a Board of Directors, the majority of which are independent, (3) submission of complete, accurate, audited financial statements, (4) proper management and financial controls over the use of the Academy's resources, (5) public availability of the Academy's current financial statements upon written request, (6) avoidance of conflicts of interest, and (7) responsible, truthful fund-raising practices.”

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
2020-10-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr William Harris
Formed
1986
Legal Domicile
Fl
Voting Board Members
5
Independent Board Members
4
Employees
276
Volunteers
250

Preparer

Firm
Batts Morrison Wales and Lee PA
Address
801 North Orange Avenue Suite 800, Orlando, FL 32801
Preparer
Michele M Wales
Phone
4077706000
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

“Change in estimated fair value of interest rate swap contracts -655,041. Change in interest in leasehold -2,011,631.”

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.”

Financial Statement Notes

Part V, Line 4:

“The $1 Million Permanent Endowment is held by TMA Heritage Foundation, Inc. for the benefits, compensation, and resources of the teaching faculty of the Academy.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5President
IRS990/Form990PartVIISectionAGrp/TitleTxt6Administrator
IRS990/Form990PartVIISectionAGrp/TitleTxt7Associate Head of School
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01986
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/FundraisingDirectExpensesAmt07880
IRS990/FundraisingGrossIncomeAmt08873
IRS990/GainOrLossGrp/OtherAmt0-13378
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt05
IRS990/GovernmentGrantsAmt01414660
IRS990/GrantAmt01405761
IRS990/GrantsToDomesticIndividualsGrp/ProgramServicesAmt0253320
IRS990/GrantsToDomesticIndividualsGrp/TotalAmt0253320
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt01152441
IRS990/GrantsToDomesticOrgsGrp/TotalAmt01152441
IRS990/GrantsToIndividualsInd01
IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt015919590
IRS990/GrossSalesOfInventoryAmt02329
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt04
IRS990/IndivRcvdGreaterThan100KCnt03
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt060021
IRS990/InformationTechnologyGrp/ProgramServicesAmt025536
IRS990/InformationTechnologyGrp/TotalAmt085557
IRS990/InsuranceGrp/ManagementAndGeneralAmt078649
IRS990/InsuranceGrp/ProgramServicesAmt0146307
IRS990/InsuranceGrp/TotalAmt0224956
IRS990/InterestGrp/ManagementAndGeneralAmt0502241
IRS990/InterestGrp/TotalAmt0502241
IRS990/InventoriesForSaleOrUseGrp/BOYAmt020823
IRS990/InventoriesForSaleOrUseGrp/EOYAmt029518
IRS990/InvestmentIncomeGrp/ExclusionAmt0148
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0148
IRS990/InvestmentInJointVentureInd00
IRS990/InvestTaxExemptBondsInd00
IRS990/IRPDocumentCnt034
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt03289038
IRS990/LandBldgEquipBasisNetGrp/BOYAmt01771133
IRS990/LandBldgEquipBasisNetGrp/EOYAmt01695658
IRS990/LandBldgEquipCostOrOtherBssAmt04984696
IRS990/LegalDomicileStateCd0FL
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt013378
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0Operation of a non-profit Christian preschool, elementary, and secondary school.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt016131044
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt015432614
IRS990/NetAssetsOrFundBalancesBOYAmt07425515
IRS990/NetAssetsOrFundBalancesEOYAmt06585989
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0-13378
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-13378
IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt0993
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt0993
IRS990/NetIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt0407
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt0407
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt07405515
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt06585989
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt031793
IRS990/OccupancyGrp/ProgramServicesAmt01287573
IRS990/OccupancyGrp/TotalAmt01319366
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt024211
IRS990/OfficeExpensesGrp/ProgramServicesAmt0107186
IRS990/OfficeExpensesGrp/TotalAmt0131397
IRS990/OfficerMailingAddressInd00
IRS990/OnBehalfOfIssuerInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt023670517
IRS990/OtherAssetsTotalGrp/EOYAmt021515529
IRS990/OtherChangesInNetAssetsAmt0-2666672
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0122110
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt01608070
IRS990/OtherEmployeeBenefitsGrp/TotalAmt01730180
IRS990/OtherExpensesGrp/Desc0Auxiliary Activites
IRS990/OtherExpensesGrp/Desc1Instructional Expenses
IRS990/OtherExpensesGrp/Desc2Miscellaneous
IRS990/OtherExpensesGrp/Desc3Dues & Subscriptions
IRS990/OtherExpensesGrp/FundraisingAmt06022
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt026081
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt154193
IRS990/OtherExpensesGrp/ProgramServicesAmt0986011
IRS990/OtherExpensesGrp/ProgramServicesAmt1239795
IRS990/OtherExpensesGrp/ProgramServicesAmt216936
IRS990/OtherExpensesGrp/ProgramServicesAmt360258
IRS990/OtherExpensesGrp/TotalAmt01018114
IRS990/OtherExpensesGrp/TotalAmt1239795
IRS990/OtherExpensesGrp/TotalAmt271129
IRS990/OtherExpensesGrp/TotalAmt360258
IRS990/OtherLiabilitiesGrp/BOYAmt0529857
IRS990/OtherLiabilitiesGrp/EOYAmt01184898
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt01534432
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt04248256
IRS990/OtherSalariesAndWagesGrp/TotalAmt05782688
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt0103265
IRS990/PayrollTaxesGrp/ProgramServicesAmt0326885
IRS990/PayrollTaxesGrp/TotalAmt0430150
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0100705
IRS990/PensionPlanContributionsGrp/TotalAmt0100705
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0113201
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0141643
IRS990/PrincipalOfficerNm0Dr William Harris
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/BusinessCd1611710
IRS990/ProgramServiceRevenueGrp/Desc0Tuition and Fees
IRS990/ProgramServiceRevenueGrp/Desc1Auxiliary Activities
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt013192785
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11251292
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt013192785
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11251292
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0168633
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0813670
IRS990/PYInvestmentIncomeAmt024
IRS990/PYOtherExpensesAmt04784914
IRS990/PYOtherRevenueAmt02170291
IRS990/PYProgramServiceRevenueAmt013425177
IRS990/PYRevenuesLessExpensesAmt02201075
IRS990/PYSalariesCompEmpBnftPaidAmt07964466
IRS990/PYTotalExpensesAmt013563050
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt015764125
IRS990/QuidProQuoContributionsInd01
IRS990/QuidProQuoContriDisclInd01
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt01827146
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/RelatedOrganizationsAmt035563
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt014444484
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/CYEndwmtFundGrp/BeginningYearBalanceAmt01000000
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt01000000
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt043662
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt043662
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt01000000
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt01000000
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt016167
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt016167
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt01000000
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt01000000
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt037510
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/OtherExpendituresAmt037510
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt01000000
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt01000000
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt017985
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/OtherExpendituresAmt017985
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt01000000
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt01000000
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt013554
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/OtherExpendituresAmt013554
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd01
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt01369960
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02546943
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt03916903
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt021459684
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt155845
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Interest in leasehold held by TMA Properties Foundation, Inc.
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Deposits
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0325698
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0742095
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt01067793
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01184898
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Interest Rate Swap Contract
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct01.00000
IRS990ScheduleD/RelatedOrgListSchRInd01
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The $1 Million Permanent Endowment is held by TMA Heritage Foundation, Inc. for the benefits, compensation, and resources of the teaching faculty of the Academy.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part V, Line 4:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01695658
IRS990ScheduleD/TotalBookValueOtherAssetsAmt021515529
IRS990ScheduleD/TotalLiabilityAmt01184898
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0The Academy published an ad in the local newspaper of general circulation, the Orlando Sentinel.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1During the year ended June 30, 2020, the Academy obtained a Paycheck Protection Program note payable ("PPP loan") of $1,414,660. The PPP loan is unsecured and is payable to a financial institution at a fixed rate of 1.00% per annum with a deferral of interest and principal payments ending on the earlier of the date the Small Business Administration issues a decision on the forgiveness amount of the loan or April 2021. The PPP loan matures in April 2022. Pursuant to federal law, the PPP loan may be forgiven in whole or in part based on the nature of the Academy's expenditures during an applicable period. During the year ended June 30, 2020, the Academy estimates that the Academy incurred or spent $1,414,660 of expenditures eligible for forgiveness. This amount has been recognized as a reduction to notes payable" in the Academy's balance sheet as of June 30, 2020 (reducing the balance of the PPP loan to zero) and as "grant revenue" in the Academy's statement of revenue for the year ended June 30, 2020. The Academy expects that the full balance of the PPP loan will be forgiven.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Part I, Line 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Line 6 - Explanation of Government Financial Aid:
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0253320

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Filings

Displayed year

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

Open filing
Assets
$26,511,377
Liabilities
$19,925,388
Net assets
$6,585,989
Revenue
$15,896,410
Expenses
$14,069,264
Net income
$1,827,146
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$26.0$14.7$11.3$21.8$20.0$1.77
2024Detailed filing. Detailed filing data is available for this year.$26.2$15.7$10.5$20.7$19.9$0.81
2023Detailed filing. Detailed filing data is available for this year.$26.0$16.5$9.45$19.1$19.2$0.15
2022Detailed filing. Detailed filing data is available for this year.$26.5$17.4$9.10$18.2$16.6$1.64
2021Detailed filing. Detailed filing data is available for this year.$24.9$19.1$5.75$15.3$16.4$1.08
2020Detailed filing. Detailed filing data is available for this year.$26.5$19.9$6.59$15.9$14.1$1.83
2019Detailed filing. Detailed filing data is available for this year.$27.7$20.3$7.43$15.8$13.6$2.20
2018Detailed filing. Detailed filing data is available for this year.$26.1$20.2$5.86$14.2$12.7$1.51
2017Detailed filing. Detailed filing data is available for this year.$25.3$21.5$3.80$14.1$14.8$0.73
2016Detailed filing. Detailed filing data is available for this year.$27.3$23.7$3.64$18.2$17.2$1.03
2015Detailed filing. Detailed filing data is available for this year.$15.0$15.1$0.12$11.4$11.9$0.51
2014Detailed filing. Detailed filing data is available for this year.$15.1$14.3$0.72$11.6$9.96$1.60
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.8$16.8$1.00$16.9
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.5$17.4$6.09$8.95
2011Summary only. Only limited summary data is available for this year.$23.6$17.6$5.99$8.60$8.44$0.16
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.7$17.9$5.83$7.66