Marine Military Academy Inc
- Assets
- $45.6m
- Revenue
- $15.1m
- Investments
- $0.0
- Employees
- 160
- Location
- Harlingen, TX
- Founding
- 07/2005
- Data as of
- 05/2023
- EIN
- 74-1507957
Organization Overview
Marine Military Academy Inc is located in Harlingen, TX. The organization was established in 2005. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 05/2023, Marine Military Academy Inc employed 160 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Marine 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 05/2023, Marine Military Academy Inc generated $15.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $16.0m during the year ending 05/2023. While expenses have increased by 2.9% 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
THE ACADEMY IS A BOARDING SCHOOL PROVIDING COLLEGE PREPARATORY EDUCATION FOR YOUNG MEN GRADES 7-12, DEVELOPING THESE YOUNG MEN INTO DISCIPLINED, MORALLY STRONG, COLLEGE-READY YOUNG MEN PREPARED FOR RESPONSIBLE LEADERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MARINE MILITARY ACADEMY'S COLLEGE PREPARATORY BOARDING SCHOOL FOR YOUNG MEN IN GRADES 7 - 12 SERVED 266 ACADEMIC YEAR CADETS AND 405 SUMMER CAMPERS DURING THE YEAR ENDED MAY 31, 2023. CADETS STUDY THE ACADEMIC CORE DISCIPLINES OF ENGLISH, MATHEMATICS, SOCIAL SCIENCE, SCIENCE, AND FOREIGN LANGUAGE IN CLASSES WITH AN AVERAGE STUDENT TEACHER RATIO OF 8 TO 1 TO ENCOURAGE INDIVIDUAL ATTENTION. ELECTIVE COURSES AND ADVANCED PLACEMENT COURSES CHALLENGE CADETS WITH ADDITIONAL STUDY. THE ACADEMY OFFERS FOUR YEARS OF MANDARIN LANGUAGE AND CULTURE AND AN AEROSPACE PROGRAM THAT OFFERS THE OPPORTUNITY FOR A CADET TO OBTAIN HIS PILOT'S LICENSE. THE 47 GRADUATES OF THE CLASS OF 2023 EARNED ADMISSION TO FOUR-YEAR COLLEGES/UNIVERSITIES AND TWO-YEAR PROGRAMS OR ENTERED MILITARY SERVICE. IN 2022-2023, THE ACADEMY HAD 52 SCORES OF 3 OR ABOVE OUT OF A POSSIBLE 5 ON THE VARIOUS ADVANCED PLACEMENT EXAMS. ALL CADETS PARTICIPATE IN AN EXTRACURRICULAR ACTIVITY, AND PHYSICAL FITNESS IS A PRIORITY. THE ACADEMY DEVELOPS DISCIPLINED, MORALLY STRONG, COLLEGE-READY YOUNG MEN WHO ARE PREPARED FOR RESPONSIBLE LEADERSHIP. ALL EXPENSES ARE ATTRIBUTABLE TO THE SCHOOL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael P Bradley Trustee | Trustee | 1 | $0 |
Daniel Carter Trustee | Trustee | 1 | $0 |
James B Ezell Trustee | Trustee | 1 | $0 |
Alfred M Gray Jr Chancellor | OfficerTrustee | 1 | $0 |
G F Robert Hanke Trustee | Trustee | 1 | $0 |
Robert A Lutz Vice Chairman | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Seal Construction Llc Building Maintenance | 5/30/23 | $186,449 |
Gulf Coast Painting Building Maintenance | 5/30/23 | $163,491 |
Sechrist Hall Company Building Maintenance | 5/30/23 | $119,728 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $151,142 |
| Related organizations | $302,965 |
| Government grants | $188,278 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,716,384 |
| Noncash contributions included in lines 1a–1f | $53,874 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,358,769 |
| Total Program Service Revenue | $12,180,944 |
| Investment income | $396,600 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $110,138 |
| Net Income from Fundraising Events | -$24,622 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $116,272 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,138,101 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,053,430 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $404,642 |
| Compensation of current officers, directors, key employees. | $404,642 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,990,018 |
| Pension plan accruals and contributions | $229,387 |
| Other employee benefits | $513,488 |
| Payroll taxes | $476,901 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $20,635 |
| Fees for services: Accounting | $48,431 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $81,388 |
| Fees for services: Investment Management | $36,193 |
| Fees for services: Other | $345,963 |
| Advertising and promotion | $705,360 |
| Office expenses | $297,978 |
| Information technology | $121,251 |
| Royalties | $0 |
| Occupancy | $1,988,565 |
| Travel | $308,622 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $19,170 |
| Interest | $6,375 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,020,292 |
| Insurance | $303,042 |
| All other expenses | $162,717 |
| Total functional expenses | $15,999,632 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $597,097 |
| Savings and temporary cash investments | $4,500,850 |
| Pledges and grants receivable | $3,000 |
| Accounts receivable, net | $368,617 |
| Loans from Officers, Directors, or Controlling Persons | $29 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,602 |
| Inventories for sale or use | $1,181,504 |
| Prepaid expenses and deferred charges | $29,956 |
| Net Land, buildings, and equipment | $14,349,293 |
| Investments—publicly traded securities | $18,922,842 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,656,218 |
| Total assets | $45,613,008 |
| Accounts payable and accrued expenses | $1,566,769 |
| Grants payable | $0 |
| Deferred revenue | $1,402,337 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $24 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $102,614 |
| Total liabilities | $3,071,744 |
| Net assets without donor restrictions | $14,812,762 |
| Net assets with donor restrictions | $27,728,502 |
| 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 | $45,613,008 |