Civic Intelligence

Treasure Coast Classical Academy Inc.

990 • Fiscal year 2020 • EIN 82-3724972

Jul 01, 2019 to Jun 30, 2020 • Filed on May 04, 2021

Organization ProfileWWW.TREASURECOASTCLASSICAL.ORG
1400 SE Cove RdStuart, FL 34997

(772) 419-7680

Siviq Scores

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

Liabilities / Assets

95th percentile

1.10x

Higher debt load relative to assets than 95% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

92nd percentile

3.72x

Higher debt load relative to revenue than 92% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Net Margin

13th percentile

-21%

Higher net margin than 13% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

14th percentile

$0

Higher top officer pay than 14% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Asset Growth

20th percentile

-1.9%

Faster asset growth than 20% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

100th percentile

3961%

Faster revenue growth than 100% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$18,725,181

Down $361,324 (-1.9%) from 2019

Net Assets

Down

-$1,779,921

Down $1,142,561 (-179%) from 2019

Liabilities

Up

$20,505,102

Up $781,237 (+4.0%) from 2019

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin13th percentile

Revenue

Up

$5,511,793

Up $5,376,078 (+3961%) from 2019

Expenses

Up

$6,652,566

Up $5,879,491 (+761%) from 2019

Net Income

Down

-$1,140,773

Down $503,413 (-79%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth20th percentile

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

$30M$20M$10M$0-$10MAssets 2019: $19,086,505Liabilities 2019: $19,723,865Net Assets 2019: -$637,3602019Assets 2020: $18,725,181Liabilities 2020: $20,505,102Net Assets 2020: -$1,779,9212020Assets 2021: $18,970,994Liabilities 2021: $20,565,478Net Assets 2021: -$1,594,4842021Assets 2022: $20,219,019Liabilities 2022: $20,449,053Net Assets 2022: -$230,0342022Assets 2023: $20,368,189Liabilities 2023: $20,099,384Net Assets 2023: $268,8052023Assets 2024: $21,840,142Liabilities 2024: $20,986,116Net Assets 2024: $854,0262024Assets 2025: $22,089,028Liabilities 2025: $20,870,577Net Assets 2025: $1,218,4512025

Highlighted filing

2020

Assets$18,725,181
Liabilities$20,505,102
Net Assets-$1,779,921
Open 2020 Filing

Operations Trend

Revenue Growth100th percentile

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

$15M$10M$5.0M$0-$5.0MRevenue 2019: $135,715Expenses 2019: $773,075Net Income 2019: -$637,3602019Revenue 2020: $5,511,793Expenses 2020: $6,652,566Net Income 2020: -$1,140,7732020Revenue 2021: $9,972,705Expenses 2021: $9,787,268Net Income 2021: $185,4372021Revenue 2022: $12,739,215Expenses 2022: $11,374,765Net Income 2022: $1,364,4502022Revenue 2023: $12,448,349Expenses 2023: $11,949,510Net Income 2023: $498,8392023Revenue 2024: $14,030,007Expenses 2024: $13,444,786Net Income 2024: $585,2212024Revenue 2025: $12,974,956Expenses 2025: $12,610,531Net Income 2025: $364,4252025

Highlighted filing

2020

Revenue$5,511,793
Expenses$6,652,566
Net Income-$1,140,773
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 4, 2021
Return Version
2019v5.0
Gross Receipts
$5,512,272
Mission and Program Overview

Mission

To train the minds and improve the hearts of young people through a content-rich classical education in the liberal arts and sciences, with instruction in the principles of moral character and civic virtue.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,485,081$17,051,300▲ $13,566,219
Cash and Non-Interest-Bearing Accounts$85,531$844,814▲ $759,283
Investments Program Related$14,593,128$763,872▼ $13,829,256
Prepaid Expenses and Deferred Charges$36,691$12,233▼ $24,458
Total Assets$19,086,647$18,725,181▼ $361,466
Other Assets Total$886,216$52,962▼ $833,254
Liabilities
Tax Exempt Bond Liabilities$19,700,000$19,700,000→ $0
Unsecured Notes Loans Payable-$584,500-
Accounts Payable and Accrued Expenses$23,865$220,602▲ $196,737
Other Liabilities$142--
Total Liabilities$19,724,007$20,505,102▲ $781,095
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-637,360$-1,779,921▼ $1,142,561
Total Net Assets Fund Balance$-637,360$-1,779,921▼ $1,142,561
Total Liabilities and Net Assets / Fund Balance$19,086,647$18,725,181▼ $361,466

Asset Categories

AssetBook ValueDepreciationBasis
Land$2,099,084-$2,099,084
Compensation and Service Providers
Top Officer Pay14th percentile

Board Members and Trustees

NameTitle
Joseph Michael FeatherstoneTrustee
Laura PateTrustee
Joan HoffpauirSecretary
Maria WellsTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Educator Solutions INCPayroll4239 SW HIGH MEADOWS AVE, SUITE 201, Palm City, FL 34990$3,754,461
Summit Construction GroupConstruction421 S SUMMERLINE AVE, SUITES 201-299, Orlando, FL 32801$3,182,974
The Optima FoundationManagement15275 COLLIER BLVD, Naples, FL 34119$568,154
Sla ManagementFood Service3217 CORRINE DRIVE, Orlando, FL 32803$106,745
Revenue and Support

Revenue Composition

Contributions and Grants
$5,059,135
Program Service Revenue
$0
Investment Income
$74,131
Other Revenue
$378,527
All Other Contributions
$118,448
Change in Net Assets
$-1,140,773

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,511,793
Total Revenue per Audited Statements
$5,511,793
Total Revenue per Form 990
$5,511,793
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,825,100
Salaries, Compensation, and Employee Benefits$2,725,223
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,482,761$137,129-$2,619,890
Fees for Services Management$426,115$142,039-$568,154
Insurance$410,785--$410,785
Occupancy$393,535--$393,535
Interest$316,876--$316,876
Depreciation Depletion$188,433--$188,433
Other Expenses$186,826--$186,826
All Other Expenses$124,841--$124,841
Current Officers, Directors, Trustees, and Key Employees$52,667$52,666-$105,333
Benefits to Members$102,243--$102,243
Advertising$17,057--$17,057
Travel$2,737--$2,737
Total Functional Expenses$6,320,732$331,834$0$6,652,566

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$6,652,566
Total Expenses per Audited Statements$6,652,566
Total Expenses per Form 990$6,652,566
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
ASeries 2019a and Series 2019b Bonds2019-06-01$19,700,000Acquisition of land and construction of a school

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$19,700,000--$771,433

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
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
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“A copy of the draft form 990 is provided to management and the board of directors. Comments and/or questions are encouraged and resolved before final approval.”

Form 990, Page 6, Part VI, Line 12C

“The organization confirms the enforcement of conflicts of interest through a written annual certification from each board member.”

Form 990, Page 6, Part VI, Line 15A

“Approved by board of directors.”

Form 990, Page 6, Part VI, Line 19

“All governing documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Treasure Coast Classical Academy
EIN
82-3724972
Phone
7724197680
Address
1400 SE COVE RD, STUART, FL 34997

Signing Officer

Name
Joseph Michael Featherstone
Title
Trustee
Phone
2392876287
Signed
2021-05-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joseph Michael Featherstone
Formed
2017
Legal Domicile
Fl
Voting Board Members
4
Independent Board Members
4
Employees
168
Volunteers
16

Preparer

Firm
Grennan Fender Hess Poparad Llp
Address
1000 LEGION PL STE 701, ORLANDO, FL 32801
Preparer
Mike Hess CPA
Phone
4078964931
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“Depreciation of equipment”

Raw XML AppendixShowing 400 of 432 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/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
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IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt02099084
IRS990ScheduleD/RevenueSubtotalAmt05511793
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02099084
IRS990ScheduleD/TotalExpensesPerForm990Amt06652566
IRS990ScheduleD/TotalRevenuePerForm990Amt05511793
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IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt06652566
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IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
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IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0PUBLISHED ON THE ORGANIZATIONS WEBSITE.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
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IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd0false
IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt0SERIES 2019A AND SERIES 2019B BONDS ACQUISITION OF LAND AND CONSTRUCTION OF A SCHOOL
IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc0PURPOSE OF ISSUE DESCRIPTION
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IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02019-06-01
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN0593591394
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt019700000
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0SERIES 2019A AND SERIES 2019B BONDS
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine2Txt0CAPITAL TRUST AGENCY
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0ACQUISITION OF LAND AND CONSTRUCTION OF A SCHOOL
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IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd0true
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxExemptBondsInd0false
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt019700000
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DEPRECIATION OF EQUIPMENT
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE DRAFT FORM 990 IS PROVIDED TO MANAGEMENT AND THE BOARD OF DIRECTORS. COMMENTS AND/OR QUESTIONS ARE ENCOURAGED AND RESOLVED BEFORE FINAL APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION CONFIRMS THE ENFORCEMENT OF CONFLICTS OF INTEREST THROUGH A WRITTEN ANNUAL CERTIFICATION FROM EACH BOARD MEMBER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3APPROVED BY BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0331834
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt06320732
IRS990/TotalFunctionalExpensesGrp/TotalAmt06652566
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesGrp/EOYAmt020505102
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1779921
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IRS990/TotalRevenueGrp/ExclusionAmt0453137
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0-479
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt05511793
IRS990/TotalVolunteersCnt016
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IRS990/TravelGrp/TotalAmt02737
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IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0584500
IRS990/UponRequestInd0X
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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$18,725,181
Liabilities
$20,505,102
Net assets
-$1,779,921
Revenue
$5,511,793
Expenses
$6,652,566
Net income
-$1,140,773
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$22.1$20.9$1.22$13.0$12.6$0.36
2024Detailed filing. Detailed filing data is available for this year.$21.8$21.0$0.85$14.0$13.4$0.59
2023Detailed filing. Detailed filing data is available for this year.$20.4$20.1$0.27$12.4$11.9$0.50
2022Detailed filing. Detailed filing data is available for this year.$20.2$20.4$0.23$12.7$11.4$1.36
2021Detailed filing. Detailed filing data is available for this year.$19.0$20.6$1.59$9.97$9.79$0.19
2020Detailed filing. Detailed filing data is available for this year.$18.7$20.5$1.78$5.51$6.65$1.14
2019Detailed filing. Detailed filing data is available for this year.$19.1$19.7$0.64$0.14$0.77$0.64