Masters Academy Of Vero Beach Inc
- Assets
- $2.2m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 66
- Location
- Vero Beach, FL
- Founding
- 12/2004
- Data as of
- 06/2023
- EIN
- 04-3770235
Organization Overview
Masters Academy Of Vero Beach Inc is located in Vero Beach, FL. The organization was established in 2004. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2023, Masters Academy Of Vero Beach Inc employed 66 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Masters Academy Of Vero Beach Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Masters Academy Of Vero Beach Inc generated $3.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.2% each year. All expenses for the organization totaled $2.6m during the year ending 06/2023. While expenses have increased by 3.9% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ACADEMICALLY CHALLENGE AND SPIRITUALLY DEVELOP EACH STUDENT TO IMPACT THE WORLD. COMMITTED TO EXCELLENCE IN EDUCATION, TRUTH AND AUTHORITY IN SCRIPTURES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION PROGRAMS: PRE-KINDERGARTEN: TO LAY A FOUNDATION FOR ACADEMIC EXCELLENCE AND TO INSTILL IN EACH CHILD A LOVE FOR LEARNING AS CHILDREN OF GOD. FEEDER PROGRAM FOR ELEMENTARY SCHOOL. 32 CHILDREN SERVED. . ELEMENTARY SCHOOL SCHOOL TEACHINGS BASED ON BIBLICAL WORLD VIEWS AND THAT EACH STUDENT IS A UNIQUELY CREATED, GIFTED, DISTINCT INDIVIDUAL WITH A PARTICULAR PURPOSE IN GOD'S PLAN. 88 STUDENTS ENROLLED. . MIDDLE SCHOOL SCHOOL TEACHINGS BASED ON BIBLICAL WORLD VIEWS AND THAT EACH STUDENT IS A UNIQUELY CREATED, GIFTED, DISTINCT INDIVIDUAL WITH A PARTICULAR PURPOSE IN GOD'S PLAN. 64 STUDENTS ENROLLED. . HIGH SCHOOL SCHOOL TEACHINGS BASED ON BIBLICAL WORLD VIEWS AND THAT EACH STUDENT IS A UNIQUELY CREATED, GIFTED, DISTINCT INDIVIDUAL WITH A PARTICULAR PURPOSE IN GOD'S PLAN. 53 STUDENTS ENROLLED
TO ACADEMICALLY CHALLENGE EACH STUDENT.
LUNCH PROGRAM: TO PROVIDE LUNCH FOR STUDENTS THAT DO NOT BRING THEIR LUNCH. COST IS 3.50 PER LUNCH. APPROXIMATELY 108 LUNCHES SERVED EACH DAY
ATHLETIC PROGRAMS - TO TEACH SPORTSMANSHIP, TO ENJOY COMPETITIVE SPORTS, AND ENHANCE ATHLETICS SKILLS (130 ATHLETES PARTICIPATED)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jonathan Hardie Treasurer | Trustee | $0 | |
Matthew Mccain Chairman | Trustee | $0 | |
David Morgan Board Member | Trustee | $0 | |
Monica Washington Secretary | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $88,488 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $88,488 |
| Total Program Service Revenue | $2,420,002 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $44,205 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,261,271 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,602,661 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $32,974 |
| Payroll taxes | $103,533 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $13,417 |
| Advertising and promotion | $8,958 |
| Office expenses | $16,033 |
| Information technology | $20,552 |
| Royalties | $0 |
| Occupancy | $140,045 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,527 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,880 |
| Insurance | $156,669 |
| All other expenses | $166,996 |
| Total functional expenses | $2,558,525 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,590,824 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,493 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $599,674 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,204,991 |
| Accounts payable and accrued expenses | $91,462 |
| Grants payable | $0 |
| Deferred revenue | $62,474 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $153,936 |
| Net assets without donor restrictions | $1,699,956 |
| Net assets with donor restrictions | $351,099 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,204,991 |