Pinecrest Academy Inc
- Assets
- $204.7m
- Revenue
- $137.1m
- Investments
- $0.0
- Employees
- 1,677
- Location
- Miami, FL
- Founding
- 02/2003
- Data as of
- 06/2023
- EIN
- 65-1018632
Organization Overview
Pinecrest Academy Inc is located in Miami, FL. The organization was established in 2003. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2023, Pinecrest Academy Inc employed 1,677 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pinecrest 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, Pinecrest Academy Inc generated $137.1m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 19.4% each year . All expenses for the organization totaled $125.3m during the year ending 06/2023. While expenses have increased by 19.3% 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
ESTABLISHED AS A CHARTER SCHOOL OPERATOR IN THE DISTRICT SCHOOL BOARDS OF MIAMI-DADE AND ORANGE COUNTIES, FLORIDA AND PROVIDING INDIVIDUAL INSTRUCTION IN A NURTURING ENVIRONMENT, ENSURING COLLEGE AND CAREER SUCCESS, USING RIGOR, RELEVANCE, AND RELATIONSHIPS TO EMPOWER STUDENTS TO BECOME TOMORROW'S GLOBAL LEADERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SCHOOLS PROVIDE EDUCATION FOR CHILDREN FROM PRE-KINDERGARTEN THROUGH TWELFTH GRADE. FOR FISCAL YEAR ENDED JUNE 30, 2023, APPROXIMATELY 11,800 STUDENTS WERE ENROLLED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carlos Alvarez President, Chairman, & Dir | OfficerTrustee | 2 | $0 |
Shannie Sadesky Treasurer & Director | OfficerTrustee | 2 | $0 |
Juan Molina Secretary & Director | OfficerTrustee | 2 | $0 |
Erin Demirjian Director | Trustee | 2 | $0 |
Carlos Coello Director | Trustee | 2 | $0 |
Sheila Gonzalez Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Academica Dade Llc Educational Support Provider | 6/29/23 | $2,465,494 |
It Savvy Llc Technology Software Solutions | 6/29/23 | $2,257,790 |
Adp Total Source Employee Leasing | 6/29/23 | $57,591,837 |
Tamiami School Property Llc Educational Support Provider | 6/29/23 | $2,259,401 |
Academica Broward Llc Educational Support Provider | 6/29/23 | $2,060,150 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $121,826,375 |
| All other contributions, gifts, grants, and similar amounts not included above | $41,076 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $121,867,451 |
| Total Program Service Revenue | $13,022,886 |
| Investment income | $1,249,153 |
| 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 | $137,095,452 |
| 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 | $54,173,747 |
| Pension plan accruals and contributions | $923,587 |
| Other employee benefits | $7,906,555 |
| Payroll taxes | $0 |
| Fees for services: Management | $5,309,595 |
| Fees for services: Legal | $58,587 |
| 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 | $5,471,808 |
| Advertising and promotion | $254,984 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $16,119,148 |
| Travel | $177,878 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,386,823 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,588,347 |
| Insurance | $1,352,050 |
| All other expenses | $14,068,498 |
| Total functional expenses | $125,273,245 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $44,805,684 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $12,100,890 |
| 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 | $2,560,077 |
| Net Land, buildings, and equipment | $39,837,792 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $105,347,545 |
| Total assets | $204,651,988 |
| Accounts payable and accrued expenses | $4,597,482 |
| Grants payable | $0 |
| Deferred revenue | $2,214,792 |
| Tax-exempt bond liabilities | $26,471,906 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $854,697 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $112,281,457 |
| Total liabilities | $146,420,334 |
| Net assets without donor restrictions | $53,392,020 |
| Net assets with donor restrictions | $4,839,634 |
| 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 | $204,651,988 |