Sarasota Military Academy Inc
- Assets
- $20.9m
- Revenue
- $13.4m
- Investments
- $0.0
- Employees
- 216
- Location
- Sarasota, FL
- Founding
- 04/2002
- Data as of
- 06/2022
- EIN
- 65-1149763
Organization Overview
Sarasota Military Academy Inc is located in Sarasota, FL. The organization was established in 2002. 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, Sarasota Military Academy Inc employed 216 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sarasota Military 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, Sarasota Military Academy Inc generated $13.4m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $13.3m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by 0.0% per year over the past 7 years. 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
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SARASOTA MILITARY ACADEMY (SMA) OFFERS A VAST ARRAY OF EXCITING, HIGH INTEREST, AND IN-DEPTH COURSE OFFERINGS (MAJORS). ALL COURSES ARE DESIGNED TO MEET AND EXCEED DISTRICT AND SUNSHINE STATE STANDARDS AND TO LAUNCH STUDENTS ON A PATH TO FUTURE SUCCESS. OUR GRADUATES ARE WELL PREPARED FOR COLLEGE, MILITARY SERVICE, OR THEIR CHOSEN CAREER FIELD. WE ARE PROUD TO OUTLINE THE "MAJOR OPPORTUNITIES" OFFERED TO SMA CADETS.SMALL CLASS SIZES, INDIVIDUALIZED INSTRUCTION, STRUCTURE, DISCIPLINE, STRINGENTLY ENFORCED DRESS CODES, AND RESPECT IN THE CLASSROOM HELP TO ENSURE A UNIQUE, HIGH QUALITY INSTRUCTIONAL PROGRAM. WE HAVE NO ENTRANCE REQUIREMENTS, BUT WE DO HAVE HIGH EXPECTATIONS FOR OUR CADETS BOTH ACADEMICALLY AND BEHAVIORALLY. ADDITIONAL INFORMATION MAY BE FOUND ON OUR WEBSITE AT: SARASOTAMILITARYACADEMY.ORG.RECIPIENT OF THE UNITED STATES ARMY'S HIGHEST AWARD "HONOR UNIT WITH DISTINCTION". FULLY ACCREDITED BY THE SOUTHERN ASSOCIATION OF COLLEGES AND SCHOOLS/ADVANCED. DRUG TESTING AND CRIMINAL HISTORY BACKGROUND CHECKS OF EVERY EMPLOYEE. A RECOGNIZED COMMUNITY LEADER FOR INVOLVEMENT IN VETERANS AND MEMORIAL DAY PARADES, CIVIC EVENTS, BLOOD BANK CONTRIBUTIONS, LETTERS TO TROOPS, WREATHS ACROSS AMERICA AND TOYS FOR TOTS. FAMILY ORIENTED WITH CONCERN FOR THE SUCCESS OF EACH CADET.JROTC ADVANCED SKILLS DEVELOPMENT AND LEADERSHIP - FOR STUDENTS WHO ARE SERIOUS ABOUT JOINING THE MILITARY AND/OR GOING TO ONE OF THE SERVICE ACADEMIES, STAFF TRAINING IS AVAILABLE. SINCE SMA IS A COLLEGE AND CAREER PREPARATORY SCHOOL, MOST OF OUR STUDENTS (85%) GO ON TO COLLEGE RATHER THAN THE MILITARY WITH A 95% GRADUATION RATE. PLEASE BE AWARE THAT ALTHOUGH WE ARE A MILITARY ACADEMY, AND EVERYONE TAKES JROTC, THE FOCUS IN THE PROGRAM IS ON DEVELOPING LEADERSHIP QUALITIES VIA THE JROTC PROGRAM WITH THE END GOAL BEING TO HELP OUR STUDENTS BECOME BETTER CITIZENS, LEADERS, AND TEAM PLAYERS IN THEIR CHOSEN PATH IN LIFE.SMA PREP PARTICIPATED IN THE VETERAN'S AND MEMORIAL DAY PARADES, WREATHS ACROSS AMERICA AND TOYS FOR TOTS. SMA PREP JOINED THE FLORIDA SUN COAST LEAGUE (FSCL) AND IS COMPETING WITH OTHER MEMBERS IN MANY SPORTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Brian Crupi Board Member | Trustee | 1 | $0 |
Ms Erica Gregory Board Member | Trustee | 1 | $0 |
Ms Linda Long Board Member | Trustee | 1 | $0 |
Mr Peter Skokos ESQ Board Member | Trustee | 1 | $0 |
Mr Richard Swoope Board Member | Trustee | 1 | $0 |
Mr Jim Tollerton Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Information Technology Solutions Group Information Technology Services | 6/29/22 | $256,603 |
Sarasota County Sheriff's Office Security | 6/29/22 | $124,752 |
City Wide Facility Solutions Maintenance Service/facilities | 6/29/22 | $205,408 |
Imagenet Consulting Of Tampa Leases | 6/29/22 | $117,901 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $135,023 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,955 |
| Noncash contributions included in lines 1a–1f | $4,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $142,978 |
| Total Program Service Revenue | $13,187,356 |
| Investment income | $143 |
| 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 | $2,182 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,409,207 |
| 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. | $557,673 |
| Compensation of current officers, directors, key employees. | $557,673 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,944,331 |
| Pension plan accruals and contributions | $729,673 |
| Other employee benefits | $753,088 |
| Payroll taxes | $509,303 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,570 |
| Fees for services: Accounting | $53,457 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $877,717 |
| Advertising and promotion | $0 |
| Office expenses | $109,793 |
| Information technology | $139,674 |
| Royalties | $0 |
| Occupancy | $479,782 |
| Travel | $8,623 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $385,181 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $648,552 |
| Insurance | $333,705 |
| All other expenses | $236,011 |
| Total functional expenses | $13,349,800 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $219,689 |
| Savings and temporary cash investments | $1,764,222 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $188,431 |
| 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 | $8,870 |
| Net Land, buildings, and equipment | $18,730,099 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,977 |
| Total assets | $20,925,288 |
| Accounts payable and accrued expenses | $555,272 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $10,568,006 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,219,623 |
| Total liabilities | $19,342,901 |
| Net assets without donor restrictions | $1,562,460 |
| Net assets with donor restrictions | $19,927 |
| 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 | $20,925,288 |