Mater Academy Foundation Inc
- Assets
- $332.4m
- Revenue
- $19.4m
- Investments
- $0.0
- Employees
- 1
- Location
- Miami, FL
- Founding
- 04/2010
- Data as of
- 06/2023
- EIN
- 26-3039409
Organization Overview
Mater Academy Foundation Inc is located in Miami, FL. The organization was established in 2010. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mater Academy Foundation 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, Mater Academy Foundation Inc generated $19.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.9% each year . All expenses for the organization totaled $17.2m during the year ending 06/2023. While expenses have increased by 23.9% per year over the past 7 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
MATER ACADEMY FOUNDATION, INC. IS A NOT-FOR-PROFIT ORGANIZATION OPERATING IN SOUTH FLORIDA. THE ORGANIZATION PROVIDES FINANCIAL SUPPORT TO ALL MATER ACADEMY CHARTER SCHOOLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MATER ACADEMY FOUNDATION INC PROVIDES SUPPORT TO MATER ACADEMY CHARTER SCHOOL TO ENCHANCE AND MAXIMIZE THE EDUCATION EXPERIENCE FOR EVERY CHILD ENROLLED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Roberto Blanch President | OfficerTrustee | 2 | $0 |
Shannie Sadesky Director | Trustee | 2 | $0 |
Christian C Crousillat Director, Vice President, Chairman | OfficerTrustee | 2 | $0 |
Idalia Suarez Director, Secretary | OfficerTrustee | 2 | $0 |
Maria Beatriz Nunez Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Link Construction Group Construction | 6/29/23 | $32,998,896 |
Turin Construction Group Construction | 6/29/23 | $7,114,845 |
Daikin Air Conditiononing Equipment Installatio | 6/29/23 | $1,570,811 |
Bdi Construction Company Construction | 6/29/23 | $6,986,416 |
Miami School Group Llc Facility Rental | 6/29/23 | $1,480,511 |
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 | $62,937 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $62,937 |
| Total Program Service Revenue | $17,130,420 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $2,181,523 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,374,880 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $36,000 |
| Grants and other assistance to domestic individuals. | $35,223 |
| 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 | $48,353 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $113,165 |
| Fees for services: Accounting | $48,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,820 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,865,191 |
| Travel | $35,227 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $9,278,774 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $26,955 |
| Insurance | $8,697 |
| All other expenses | $2,742 |
| Total functional expenses | $17,193,334 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $65,457,715 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,712,214 |
| 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 | $14,537 |
| Net Land, buildings, and equipment | $4,863,484 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $259,336,369 |
| Total assets | $332,384,319 |
| Accounts payable and accrued expenses | $3,632,873 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $255,381,792 |
| 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 | $48,450,107 |
| Total liabilities | $307,464,772 |
| Net assets without donor restrictions | $24,919,547 |
| Net assets with donor restrictions | $0 |
| 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 | $332,384,319 |