The Classical Academy Of Sarasota Inc is located in Sarasota, FL. The organization was established in 2014. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2022, Classical Academy Of Sarasota Inc employed 105 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Classical Academy Of Sarasota 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 06/2022, Classical Academy Of Sarasota Inc generated $8.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 27.2% each year . All expenses for the organization totaled $5.0m during the year ending 06/2022. While expenses have increased by 18.8% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
DEVELOPING THE ACADEMIC POTENTIAL OF EACH STUDENT THROUGH A RIGOROUS CONTENT-RICH, CLASSICAL LIBERAL ARTS EDUCATION, WHILE BUILDING IN THEM A VIRTUOUS CHARACTER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPING HUNDREDS OF STUDENTS WHO ARE LOGICAL THINKERS, COHERENT WRITERS, CONFIDENT SPEAKERS, THOUGHTFUL LEADERS AND RESPONSIBLE VIRTUOUS CITIZENS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Joseph Penge Secretary | OfficerTrustee | 5 | $0 |
Ted Lynch Treasurer | OfficerTrustee | 5 | $0 |
David Sugar President | OfficerTrustee | 5 | $0 |
Matt Shirey Director | Officer | 5 | $0 |
Jen Grosso Director | Officer | 5 | $0 |
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 | $1,731,106 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $1,731,106 |
Total Program Service Revenue | $5,441,433 |
Investment income | $2,885 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $738,233 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $8,204,460 |
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 | $3,076,659 |
Pension plan accruals and contributions | $33,707 |
Other employee benefits | $331,354 |
Payroll taxes | $227,103 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $85,593 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $52,419 |
Advertising and promotion | $4,364 |
Office expenses | $30,838 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $348,152 |
Travel | $335 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $23,913 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $85,629 |
Insurance | $34,480 |
All other expenses | $70,917 |
Total functional expenses | $5,001,269 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $210,551 |
Savings and temporary cash investments | $2,442,213 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $35,286 |
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 | $176,976 |
Net Land, buildings, and equipment | $8,198,899 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $4,497 |
Other assets | $11,645 |
Total assets | $11,080,067 |
Accounts payable and accrued expenses | $85,557 |
Grants payable | $0 |
Deferred revenue | $839,675 |
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 | $5,487,187 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $6,412,419 |
Net assets without donor restrictions | $4,454,544 |
Net assets with donor restrictions | $213,104 |
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 | $11,080,067 |
Over the last fiscal year, we have identified 2 grants that The Classical Academy Of Sarasota Inc has recieved totaling $11,000.
Awarding Organization | Amount |
---|---|
Swift Family Foundation Inc Sarasota, FL PURPOSE: UNRESTRICTED CHARITABLE DONATION | $6,000 |
Robert E Dods Family Foundation Longboat Key, FL PURPOSE: GENERAL OPERATIONS | $5,000 |
Organization Name | Assets | Revenue |
---|---|---|
The Foundation For Osceola Education Inc Kissimmee, FL | $17,231,201 | $18,787,939 |
Lake Technical College Inc Eustis, FL | $17,510,446 | $18,253,168 |
Northstar Academies Inc Fort Lauderdale, FL | $8,255,029 | $17,151,740 |
Global Outreach Charter Academys Jacksonville, FL | $28,025,971 | $16,215,591 |
Coastal Plains Education Center Inc Metter, GA | $21,944,449 | $17,839,473 |
National Ben Gamla Charter Schoolfoundation Inc Miami, FL | $11,814,149 | $15,804,589 |
Lincoln Marti Charter Schools Inc Miami, FL | $12,862,040 | $15,316,634 |
Ridgeview Global Studies Academy Inc Davenport, FL | $23,553,699 | $16,444,024 |
Wesley International Academy Inc Atlanta, GA | $9,201,005 | $14,194,787 |
City Of Belle Isle Charter Schools Inc Miami, FL | $12,550,374 | $14,274,361 |
Sarasota Military Academy Inc Sarasota, FL | $22,680,421 | $14,952,313 |
Minneola Charter Schools Inc Minneola, FL | $14,329,481 | $14,463,653 |