Mater Academy Inc
- Assets
- $454.8m
- Revenue
- $227.4m
- Investments
- $0.0
- Employees
- 2,308
- Location
- Miami, FL
- Founding
- 01/2000
- Data as of
- 06/2023
- EIN
- 65-0857507
Organization Overview
Mater Academy Inc is located in Miami, FL. The organization was established in 2000. 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 06/2023, Mater Academy Inc employed 2,308 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mater 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 06/2023, Mater Academy Inc generated $227.4m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.2% each year . All expenses for the organization totaled $208.3m during the year ending 06/2023. While expenses have increased by 10.9% 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
MATER ACADEMY, INC IS COMPOSED OF THIRTY-ONE CHARTER SCHOOLS, EDUCATING STUDENTS FROM PRE-KINDERGARTEN THROUGH TWELFTH GRADE. THE SCHOOLS OPERATE UNDER CHARTERS WITH THE DISTRICT SCHOOL BOARD OF MIAMI-DADE COUNTY, FLORIDA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION FOR CHILDREN FROM PRE-KINDERGARTEN THROUGH TWELFTH GRADE. FOR THE FISCAL YEAR ENDED JUNE 30, 2023, APPROXIMATELY 18,087 STUDENTS WERE ENROLLED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christian Crousillat Chairman, Director | OfficerTrustee | 2 | $0 |
Idalia Suarez Secretary, Director | OfficerTrustee | 2 | $0 |
Maria Beatriz Director | Trustee | 2 | $0 |
Maurene Sotero Director, Student Alumni | Trustee | 2 | $0 |
Shannie Sadesky Vice-Chairman, Director | OfficerTrustee | 2 | $0 |
Roberto Blanch President | Officer | 40 | $164,490 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Adp Employee Leasing | 6/29/23 | $95,288,004 |
Mater Academy Foundation Inc Rental Facilities | 6/29/23 | $8,340,958 |
Academica Dade Llc Educational Service Provider | 6/29/23 | $7,562,077 |
School Development Hg Ii Llc Rental Facilities | 6/29/23 | $3,718,558 |
Cheney Brothers Inc Food Service Distributor | 6/29/23 | $3,363,424 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $207,157,684 |
| All other contributions, gifts, grants, and similar amounts not included above | $395,188 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $207,552,872 |
| Total Program Service Revenue | $14,700,692 |
| Investment income | $2,074,441 |
| 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 | $227,397,649 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,051,342 |
| 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 | $84,841,720 |
| Pension plan accruals and contributions | $1,545,741 |
| Other employee benefits | $15,116,256 |
| Payroll taxes | $0 |
| Fees for services: Management | $7,748,775 |
| Fees for services: Legal | $440,136 |
| Fees for services: Accounting | $512,017 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,768,884 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $33,964,478 |
| Travel | $246,012 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $202,637 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,365,913 |
| Insurance | $3,093,039 |
| All other expenses | $26,846,678 |
| Total functional expenses | $208,295,701 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $64,066,591 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $39,718,416 |
| Accounts receivable, net | $495,287 |
| 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 | $13,229,309 |
| Net Land, buildings, and equipment | $35,709,081 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $301,569,097 |
| Total assets | $454,787,781 |
| Accounts payable and accrued expenses | $10,895,068 |
| Grants payable | $0 |
| Deferred revenue | $7,087,592 |
| 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 | $9,347,375 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $305,514,446 |
| Total liabilities | $332,844,481 |
| Net assets without donor restrictions | $119,333,927 |
| Net assets with donor restrictions | $2,609,373 |
| 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 | $454,787,781 |
Grants Awarded
Over the last fiscal year, Mater Academy Inc has awarded $1,051,342 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
MATER ACADEMY CENTRAL INC PURPOSE: TO SUPPORT EDUCATION. | $995,000 |
MATER ACADEMY FOUNDATION PURPOSE: TO SUPPORT CHARTER SCHOOLS EVENT | $56,342 |