True North Classical Academy Inc
- Assets
- $47.3m
- Revenue
- $17.9m
- Investments
- $0.0
- Employees
- 224
- Location
- Coral Gables, FL
- Founding
- 04/2015
- Data as of
- 06/2022
- EIN
- 46-4566968
Organization Overview
True North Classical Academy Inc is located in Coral Gables, FL. The organization was established in 2015. 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 06/2022, True North Classical Academy Inc employed 224 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. True North Classical Academy 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, True North Classical Academy Inc generated $17.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 40.3% each year . All expenses for the organization totaled $16.1m during the year ending 06/2022. While expenses have increased by 34.9% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TRUE NORTH IS A NETWORK OF HIGH-PERFORMANCE SCHOOLS THAT EDUCATE CHILDREN FROM INFANTS TO 12TH GRADE IN AN ENVIRONMENT OF ACADEMIC AND MORAL EXCELLENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TRUE NORTH IS ONE OF THE TOP PERFORMING SCHOOLS IN THE STATE OF FLORIDA. THE SCHOOL'S EDUCATIONAL PURPOSE HOLDS THAT THE TRUE NATURE OF EDUCATION IS FORMING HEARTS AND MINDS TOWARD CHARACTER AND VIRTUE. OUR STUDENTS REACH FOR EXCELLENCE THROUGH COMBINATION OF A RIGOROUS CURRICULUM, HIGH CALIBER FACULTY, AND A COMMITMENT TO A NOBLE AND GOOD MISSION. OUR STUDENTS RANK AMONGST THE TOP IN THE STATE IN ENGLISH LANGUAGE ARTS, MATHEMATICS, SCIENCE, AND HISTORY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Luis E Diaz Chair | Trustee | 1 | $0 |
Rudy Pages Treasurer | Trustee | 1 | $0 |
Ernesto Rodriguez Jr Director | Trustee | 1 | $0 |
Kent Windhorst Director | Trustee | 1 | $0 |
Mike Bileca Executive | Officer | 40 | $180,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Turin Construction Corp Construction | 6/29/22 | $1,346,421 |
Sunset Chapel Inc Landlord For Sunset Charter School Campu | 6/29/22 | $705,908 |
Dynamic Network Solutions Inc Provide It Supports And Products | 6/29/22 | $748,969 |
Spectrum Tours Provide Tours Arrangements | 6/29/22 | $210,637 |
Choose Clean Corp Clean Our Campus | 6/29/22 | $407,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,513,816 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,163,927 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,677,743 |
| Total Program Service Revenue | $11,554,136 |
| 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 | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,879,312 |
| 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. | $180,000 |
| Compensation of current officers, directors, key employees. | $36,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,941,258 |
| Pension plan accruals and contributions | $65,015 |
| Other employee benefits | $377,385 |
| Payroll taxes | $518,707 |
| 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 | $1,460,875 |
| Advertising and promotion | $0 |
| Office expenses | $2,086,735 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,113,691 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,728,453 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,168,275 |
| Insurance | $0 |
| All other expenses | $450,046 |
| Total functional expenses | $16,090,440 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,918,739 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,883,355 |
| Accounts receivable, net | $0 |
| 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 | $129,573 |
| Net Land, buildings, and equipment | $24,374,940 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,948,551 |
| Total assets | $47,255,158 |
| Accounts payable and accrued expenses | $1,705,134 |
| Grants payable | $0 |
| Deferred revenue | $74,073 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $911,500 |
| Secured mortgages and notes payable | $26,637,278 |
| Unsecured mortgages and notes payable | $30,506 |
| Other liabilities | $14,234,739 |
| Total liabilities | $43,593,230 |
| Net assets without donor restrictions | $3,661,928 |
| 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 | $47,255,158 |