Coral Reef Montessori Academy Charter School Inc
- Assets
- $7.6m
- Revenue
- $4.9m
- Investments
- $0.0
- Employees
- 90
- Location
- Miami, FL
- Founding
- 12/1998
- Data as of
- 06/2022
- EIN
- 65-0840179
Organization Overview
Coral Reef Montessori Academy Charter School Inc is located in Miami, FL. The organization was established in 1998. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Coral Reef Montessori Academy Charter School Inc employed 90 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Coral Reef Montessori Academy Charter School 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, Coral Reef Montessori Academy Charter School Inc generated $4.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $4.9m during the year ending 06/2022. While expenses have increased by 5.6% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF CORAL REEF MONTESSORI ACADEMY IS TO NURTURE EACH UNIQUE INDIVIDUAL STUDENT, THEREBY AWAKENING INDEPENDENCE, CONFIDENCE, RESPONSIBILITY AND THE PURSUIT OF KNOWLEDGE, THUS CREATING A MONTESSORI COMMUNITY TO GUIDE THE TRANSFORMATION OF GLOBAL INTERDEPENDENCE: RESPECTING OURSELVES, RESPECTING OUR COMMUNITY, RESPECTING OUR NATURAL ENVIRONMENT, AND RESPECTING OUR UNIVERSE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE 2021/22 SCHOOL YEAR, THE CORAL REEF MONTESSORI ACADEMY (CRMA) CHARTER SCHOOL CONTINUED TO DEAL WITH PROBLEMS COMING FROM THE CORONAVIRUS PANDEMIC. HOWEVER, THE SCHOOL CONTINUED TO MAKE SIGNIFICANT ADVANCES. THE SCHOOL CONTINUES TO BE ONE OF ONLY NINETEEN PUBLIC SCHOOLS IN THE NATION TO MAINTAIN ACCREDITATION WITH THE AMERICAN MONTESSORI SOCIETY AND COGNIA, FORMALLY KNOWN AS SACS. THE ACCREDITATION WILL REMAIN IN EFFECT UNTIL 2028. THE SCHOOL IS IN THE THIRD YEAR OF A STRATEGIC PLAN THAT WILL BENEFIT ALL STAKEHOLDERS TO ENSURE A SOLID FOUNDATION AS WE WORK TOWARDS OUR MILESTONE OF COMPLETING TWENTY-FIVE YEARS. THE SCHOOL'S STUDENTS AND STAFF, EVER MINDFUL OF THEIR HUMANITARIAN OBLIGATIONS, RECEIVED RECOGNITION FROM A NUMBER OF COMMUNITY BASED ORGANIZATIONS FOR THEIR SUPPORT. THE SCHOOL CREATED ORGANIC GARDENS IN THE KINDERGARTEN THROUGH 6TH GRADE, AND AN INDOOR GARDEN IN THE MIDDLE SCHOOL. THE SCHOOL PARTICIPATED IN SCHOOL WIDE RECYCLING. THE SCHOOL RAISED MORE THAN $40,000 FOR THE AMERICAN MONTESSORI SOCIETY SCHOLARSHIP FUND ON BEHALF OF DR. KING'S LIVING LEGACY CAMPAIGN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Juliet King Co-Director | Officer | 40 | $98,805 |
Lucy Canzoneri-Golden Co-Director | Officer | 40 | $98,805 |
Nestor Torres Board Member | Trustee | 2 | $0 |
Ricardo Alvarez Board Member | Trustee | 2 | $0 |
Wendall Carr Chairperson | OfficerTrustee | 4 | $0 |
Samuel C Jackson Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,936,148 |
| 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 | $4,936,148 |
| Statement of Expenses | |
|---|---|
| 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. | $197,609 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,390,573 |
| Pension plan accruals and contributions | $275,464 |
| Other employee benefits | $345,545 |
| Payroll taxes | $189,027 |
| Fees for services: Management | $156,098 |
| Fees for services: Legal | $1,555 |
| Fees for services: Accounting | $38,042 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $106,921 |
| Information technology | $27,711 |
| Royalties | $0 |
| Occupancy | $175,610 |
| Travel | $4,157 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $196,004 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $187,256 |
| Insurance | $28,317 |
| All other expenses | $0 |
| Total functional expenses | $4,903,999 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $229,873 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $307,783 |
| 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 | $756,977 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,621,833 |
| Accounts payable and accrued expenses | $308,600 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $4,478,596 |
| Unsecured mortgages and notes payable | $1,309,865 |
| Other liabilities | $1,388,562 |
| Total liabilities | $7,485,623 |
| Net assets without donor restrictions | $136,210 |
| 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 |
| Total liabilities and net assets/fund balances | $136,210 |