SOMERSET ACADEMY INC: Form 990, tax year 2020
View the entire original 990 at ProPublica ↗
- Organization
- SOMERSET ACADEMY INC (EIN 31-1569428)
- Tax period
- 2020-07-01 to 2021-06-30
- Filed
- 2022-03-31
- IRS object ID
- 202220909349300222
- Schema version
- 2020v4.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule E
- Schedule I
- Schedule J
- Schedule K
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2022-03-31T11:05:07-05:00 | ReturnTs |
| Tax Period End | 2021-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 204946415 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | HLB GRAVIER LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 396 ALHAMBRA CIRCLE SUITE 900 | AddressLine1Txt |
| City | CORAL GABLES | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 331345095 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2020-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 311569428 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SOMERSET ACADEMY INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | SOME | BusinessNameControlTxt |
| Phone | 3056692906 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 6340 SUNSET DRIVE | AddressLine1Txt |
| City | MIAMI | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 33143 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | TODD GERMAN | PersonNm |
| Person Title | BOARD CHAIR | PersonTitleTxt |
| Phone | 3056692906 | PhoneNum |
| Signature | 2022-03-31 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | TODD | PersonFirstNm |
| Person Last | GERMAN | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | LEONARDO D GRAVIER | PreparerPersonNm |
| PTIN | P00368983 | PTIN |
| Phone | 3054463022 | PhoneNum |
| Preparation | 2022-03-31 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2020 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | TODD GERMAN | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 6340 SUNSET DRIVE | AddressLine1Txt |
| City | MIAMI | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 33143 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $293,901,770 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.SOMERSETACADEMYSCHOOLS.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1997 | FormationYr |
| Legal Domicile State | FL | LegalDomicileStateCd |
| Activity Or Mission | ESTABLISHED AS CHARTER SCHOOL OPERATOR IN DISTRICT SCHOOL BOARDS OF MIAMI-DADE, BROWARD COUNTY, PALM BEACH COUNTY, DUVAL COUNTY, ST. LUCIE COUNTY, AND TEXAS STATE BOARD OF EDUCATION. SOMERSET ACADEMY, INC. IS DEDICATED TO PROVIDING EQUITABLE, HIGH-QUALITY EDUCATION FOR ALL STUDENTS, AND PROMOTES A CULTURE THAT MAXIMIZES STUDENT ACHIEVEMENT AND FOSTERS THE DEVELOPMENT OF ACCOUNTABLE, 21ST CENTURY LEARNERS IN A SAFE AND ENRICHING ENVIRONMENT. | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 2676 | TotalEmployeeCnt |
| Total Volunteers | 6828 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $240,538,489 | PYContributionsGrantsAmt |
| CY Contributions Grants | $282,303,148 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $8,845,881 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $10,759,889 | CYProgramServiceRevenueAmt |
| PY Investment Income | $700,651 | PYInvestmentIncomeAmt |
| CY Investment Income | $13,779 | CYInvestmentIncomeAmt |
| PY Other Revenue | $1,270,539 | PYOtherRevenueAmt |
| CY Other Revenue | $824,954 | CYOtherRevenueAmt |
| PY Total Revenue | $251,355,560 | PYTotalRevenueAmt |
| CY Total Revenue | $293,901,770 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $270,000 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $145,000 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $138,475,557 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $143,446,426 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $110,607,934 | PYOtherExpensesAmt |
| CY Other Expenses | $123,223,234 | CYOtherExpensesAmt |
| PY Total Expenses | $249,353,491 | PYTotalExpensesAmt |
| CY Total Expenses | $266,814,660 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $2,002,069 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $27,087,110 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $154,096,220 | TotalAssetsBOYAmt |
| Total Assets EOY | $197,106,992 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $77,201,220 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $93,307,762 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $76,895,000 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $103,799,230 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | ESTABLISHED AS CHARTER SCHOOL OPERATOR IN DISTRICT SCHOOL BOARDS OF MIAMI-DADE, BROWARD COUNTY, PALM BEACH COUNTY, DUVAL COUNTY, ST. LUCIE COUNTY, AND TEXAS STATE BOARD OF EDUCATION. SOMERSET ACADEMY, INC. IS DEDICATED TO PROVIDING EQUITABLE, HIGH-QUALITY EDUCATION FOR ALL STUDENTS, AND PROMOTES A CULTURE THAT MAXIMIZES STUDENT ACHIEVEMENT AND FOSTERS THE DEVELOPMENT OF ACCOUNTABLE, 21ST CENTURY LEARNERS IN A SAFE AND ENRICHING ENVIRONMENT. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $235,160,484 | ExpenseAmt |
| Grant | $145,000 | GrantAmt |
| Revenue | $11,598,622 | RevenueAmt |
| Desc | PROVIDES EDUCATION FOR CHILDREN FROM PRE-KINDERGARTEN THROUGH TWELFTH GRADE. FOR THE FISCAL YEAR ENDED JUNE 30, 2021 APROXIMATELY 29,000 STUDENTS WERE ENROLLED. | Desc |
| Total Program Service Expenses | $235,160,484 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (1) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | Yes (1) | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | Yes (1) | TaxExemptBondsInd |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBondsInd |
| Escrow Account | 0 | EscrowAccountInd |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuerInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 393 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 2676 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 7 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | Yes (1) | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Other Website | Yes (X) | OtherWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ANA MARIA MARTINEZ | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 3056692906 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 6340 SUNSET DRIVE | AddressLine1Txt |
| City | MIAMI | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 33143 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (18 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| TODD GERMAN | |||||||
| DIRECTOR,CHAIRMAN | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| ANA DIAZ | |||||||
| DIRECTOR, SECRETARY, VICECHAIRMAN | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| BERNARDO MONTERO | |||||||
| PRESIDENT | 40.00 | Yes (X) | Yes (X) | $152,752 | $0 | $0 | |
| SUZETTE RUIZ | |||||||
| VICE-PRESIDENT | 40.00 | Yes (X) | Yes (X) | $116,797 | $0 | $0 | |
| DR BERNARD KIMMEL | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| BRIAN MATTHEW COX | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| DAVID CONCEPCION | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| ATHENA GUILLEN | |||||||
| EMPLOYEE | 40.00 | $109,245 | $0 | $0 | Yes (X) | ||
| ALEXANDRA PRIETO | |||||||
| EMPLOYEE | 40.00 | $112,865 | $0 | $0 | Yes (X) | ||
| KERRI ANN O'SULLIVAN | |||||||
| EMPLOYEE | 40.00 | $117,595 | $0 | $0 | Yes (X) | ||
| DONYALE MCGHEE | |||||||
| EMPLOYEE | 40.00 | $113,079 | $0 | $0 | Yes (X) | ||
| DINA MILLER | |||||||
| EMPLOYEE | 40.00 | $107,140 | $0 | $0 | Yes (X) | ||
| DENNIS MULROONEY | |||||||
| EMPLOYEE | 40.00 | $104,200 | $0 | $0 | Yes (X) | ||
| CORY OLIVER | |||||||
| EMPLOYEE | 40.00 | $127,060 | $0 | $0 | Yes (X) | ||
| DANIEL SHOURDS | |||||||
| EMPLOYEE | 40.00 | $100,728 | $0 | $0 | Yes (X) | ||
| COURTNEY OLIVER | |||||||
| EMPLOYEE | 40.00 | $112,942 | $0 | $0 | Yes (X) | ||
| ANDRE GAINEY | |||||||
| EMPLOYEE | 40.00 | $102,423 | $0 | $0 | Yes (X) | ||
| ERIKA RAINS | |||||||
| EMPLOYEE | 40.00 | $110,726 | $0 | $0 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,487,552 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $0 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 13 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| ADP TOTAL SOURCE | |||||
| 10200 SW SUNSET DRIVE | MIAMI | FL | 33173 | EMPLOYEE LEASING | $117,214,393 |
| IT SAVVY LLC | |||||
| PO BOX 3296 GLEN ELLYN | ILLINOIS | IL | 60138 | IT SERVICES PROVIDER | $7,435,964 |
| ACADEMICA BROWARD LLC | |||||
| 6340 SUNSET DRIVE | MIAMI | FL | 33143 | EDUCATIONAL SUPPORT PROVIDER | $6,309,019 |
| ACADEMICA DADE LLC | |||||
| 6340 SUNSET DRIVE | MIAMI | FL | 33143 | EDUCATIONAL SUPPORT PROVIDER | $4,885,222 |
| BOYNTON SCHOOL PROPERTY LLC | |||||
| 6340 SUNSET DRIVE | MIAMI | FL | 33143 | RENTAL PROPERTY LEASING | $2,375,722 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 93 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $281,830,703 | GovernmentGrantsAmt |
| All Other Contributions | $472,445 | AllOtherContributionsAmt |
| Total Contributions | $282,303,148 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (5 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| COMMUNITY SERVICES | 611710 | $6,994,052 | $6,994,052 |
| PROGRAM SVCS: INSTRUCTION SERVICE | 611710 | $1,971,040 | $1,971,040 |
| PROGRAM SVCS: E RATE REBATE | 611710 | $623,098 | $623,098 |
| PROGRAM SVCS: LUNCH FEES | 611710 | $607,604 | $607,604 |
| PROGRAM SVCS: VIRTUAL FEES | 611710 | $562,183 | $562,183 |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,912 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $1,912 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $10,759,889 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $13,779 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $13,779 | RelatedOrExemptFuncIncomeAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER INCOME | Desc |
| Business | 611710 | BusinessCd |
| Total Revenue Column | $824,954 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $824,954 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $824,954 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $293,901,770 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $11,598,622 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $145,000 | TotalAmt |
| Program Services | $145,000 | ProgramServicesAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $118,644,356 | TotalAmt |
| Program Services | $103,393,236 | ProgramServicesAmt |
| Management And General | $15,251,120 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,278,878 | TotalAmt |
| Program Services | $2,788,234 | ProgramServicesAmt |
| Management And General | $490,644 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $21,523,192 | TotalAmt |
| Program Services | $18,764,956 | ProgramServicesAmt |
| Management And General | $2,758,236 | ManagementAndGeneralAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,965,925 | TotalAmt |
| Program Services | $7,977,283 | ProgramServicesAmt |
| Management And General | $3,988,642 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $282,562 | TotalAmt |
| Management And General | $282,562 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $717,701 | TotalAmt |
| Program Services | $270,510 | ProgramServicesAmt |
| Management And General | $447,191 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,892,619 | TotalAmt |
| Program Services | $7,523,223 | ProgramServicesAmt |
| Management And General | $2,369,396 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $173,761 | TotalAmt |
| Program Services | $173,187 | ProgramServicesAmt |
| Management And General | $574 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,632,650 | TotalAmt |
| Program Services | $1,628,609 | ProgramServicesAmt |
| Management And General | $4,041 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $36,238,956 | TotalAmt |
| Program Services | $35,809,282 | ProgramServicesAmt |
| Management And General | $429,674 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $123,046 | TotalAmt |
| Program Services | $90,832 | ProgramServicesAmt |
| Management And General | $32,214 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,212,767 | TotalAmt |
| Program Services | $2,212,767 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,645,773 | TotalAmt |
| Program Services | $9,522,968 | ProgramServicesAmt |
| Management And General | $122,805 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,652,985 | TotalAmt |
| Program Services | $3,636,918 | ProgramServicesAmt |
| Management And General | $16,067 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| SUPPLIES | $6,759,138 | $6,174,699 | $584,439 |
| PUBLIC UTILITY SERVICE | $5,226,641 | $5,222,562 | $4,079 |
| COMPUTER HARDWARE UNDER | $4,745,198 | $4,716,356 | $28,842 |
| REPAIRS & MAINTENANCE | $4,340,082 | $4,340,082 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $25,613,430 | TotalAmt |
| Program Services | $20,769,780 | ProgramServicesAmt |
| Management And General | $4,843,650 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $266,814,660 | TotalAmt |
| Program Services | $235,160,484 | ProgramServicesAmt |
| Management And General | $31,654,176 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $61,912,570 | BOYAmt |
| EOY | $75,116,090 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $112,596 | BOYAmt |
| EOY | $101,259 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,930,271 | BOYAmt |
| EOY | $5,921,458 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $122,674,652 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $36,562,493 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $74,113,795 | BOYAmt |
| EOY | $86,112,159 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,026,988 | BOYAmt |
| EOY | $29,856,026 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $154,096,220 | BOYAmt |
| EOY | $197,106,992 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,001,715 | BOYAmt |
| EOY | $20,320,058 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,449,845 | BOYAmt |
| EOY | $53,825,412 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $43,810,300 | BOYAmt |
| EOY | $7,476,108 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,939,360 | BOYAmt |
| EOY | $11,686,184 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $77,201,220 | BOYAmt |
| EOY | $93,307,762 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $69,340,350 | BOYAmt |
| EOY | $95,910,778 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,554,650 | BOYAmt |
| EOY | $7,888,452 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $76,895,000 | BOYAmt |
| EOY | $103,799,230 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $154,096,220 | BOYAmt |
| EOY | $197,106,992 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $27,087,110 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | -$182,880 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Other | Yes (X) | MethodOfAccountingOtherInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consol And Sep Basis Fincl Stmt | Yes (X) | ConsolAndSepBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School | Yes (X) | SchoolInd |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $13,497,282 | OtherCostOrOtherBasisAmt |
| Book Value | $13,497,282 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $67,071,926 | OtherCostOrOtherBasisAmt |
| Depreciation | $12,961,932 | DepreciationAmt |
| Book Value | $54,109,994 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $28,111,819 | OtherCostOrOtherBasisAmt |
| Depreciation | $17,046,504 | DepreciationAmt |
| Book Value | $11,065,315 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $13,993,625 | OtherCostOrOtherBasisAmt |
| Depreciation | $6,554,057 | DepreciationAmt |
| Book Value | $7,439,568 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $86,112,159 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (4 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| DEPOSITS | $725,183 |
| DUE FROM GOVERNMENTAL AGENCIES | $26,148,652 |
| LONG TERM RECEIVABLE FROM LANDLORD | $944,719 |
| DUE FROM OTHER DIVISIONS OF S.A. INC | $2,037,472 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $29,856,026 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (4 entries)
| DescDesc | AmtAmt |
|---|---|
| ACCRUED RENT PAYABLE | $9,858,111 |
| DUE TO STUDENTS & CLUBS | $16,219 |
| DUE TO LANDLORD | $1,797,075 |
| DUE TO OTHER DIVISIONS OF SOMERSET ACADEMY INC. | $14,779 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $11,686,184 | TotalLiabilityAmt |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | Yes (1) | NondiscriminatoryPolicyStmtInd |
| Policy Stmt In Brochures Etc | Yes (1) | PolicyStmtInBrochuresEtcInd |
| Plcy Pblczd Via Broadcast Media | Yes (1) | PlcyPblczdViaBroadcastMediaInd |
| Maintain Racial Comp Recs | Yes (1) | MaintainRacialCompRecsInd |
| Maintain Scholarships Recs | 0 | MaintainScholarshipsRecsInd |
| Maintain Cpy Of Brochures Etc | Yes (1) | MaintainCpyOfBrochuresEtcInd |
| Maintain Cpy Of All Sol | Yes (1) | MaintainCpyOfAllSolInd |
| Discriminate Race Stdnts Rghts | 0 | DiscriminateRaceStdntsRghtsInd |
| Discriminate Race Admiss Plcy | 0 | DiscriminateRaceAdmissPlcyInd |
| Discriminate Race Emplm Fculty | 0 | DiscriminateRaceEmplmFcultyInd |
| Discriminate Race Schs | 0 | DiscriminateRaceSchsInd |
| Discriminate Race Educ Plcy | 0 | DiscriminateRaceEducPlcyInd |
| Discriminate Race Use Of Fclts | 0 | DiscriminateRaceUseOfFcltsInd |
| Discriminate Race Athlt Prog | 0 | DiscriminateRaceAthltProgInd |
| Discriminate Race Other Acty | 0 | DiscriminateRaceOtherActyInd |
| Government Financial Aid Rcvd | Yes (1) | GovernmentFinancialAidRcvdInd |
| Government Financial Aid Rvkd | 0 | GovernmentFinancialAidRvkdInd |
| Compliance With Rev Proc7550 | Yes (1) | ComplianceWithRevProc7550Ind |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE E, PART I, LINE 3 | EXPLANATION: A NON-DISCRIMATORY STATEMENT IS INCLUDED IN REGISTRATION PACKETS, SCHOOL WEBSITES, EMPLOYEE HANDBOOKS, AND OTHER DISTRUBUTED MATERIALS. FURTHER, THE CHARTER SCHOOL CONTRACT WITH THE LOCAL SCHOOL DISTRICT INCLUDES A NON DISCRIMINATORY STATEMENT. ADDITIONALLY, A PUBLIC NOTICE IS PUBLISHED EACH YEAR FOR THE LUNCH PROGRAM ON THE LOCAL NEWSPAPER AND TV STATIONS. SCHEDULE E, LINE 6 - EXPLANATION OF GOVERNMENT FINANCIAL AID: THIS ORGANIZATION RECEIVES GOVERNMENT GRANTS THAT ALLOW IT TO PROVIDE A QUALITY EDUCATION TO ITS STUDENTS. |
| SCHEDULE E, PART I, LINE 4 | THIS SCHOOL DOES NOT OFFER SCHOLARSHIPS AND/OR FINANCIAL ASSISTANCE TO ANY STUDENTS. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Valuation Method UsedValuationMethodUsedDesc | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|
| SOMERSET VIRTUAL ACADEMY INC | ||||||||
| 6340 SUNSET DRIVE | MIAMI | FL | 33143 | 901139872 | 501(C)3 | $20,000 | FMV | TO SUPPORT EDUCATION |
| SOMERSET ACADEMY ARIZONA INC | ||||||||
| 8825 N 23RD AVENUE STE 100 | PHOENIX | AZ | 85021 | 833041155 | 501(C)3 | $125,000 | FMV | TO SUPPORT EDUCATION |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 2 | Total501c3OrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | FORM 990, SCHEDULE I, PART I, LINE 2 | FormAndLineReferenceDesc |
| Explanation | THE SCHOOL WORKS CLOSELY WITH THE GRANT RECEIPIENTS TO ENSURE THAT THE FUNDS ARE USED FOR THEIR INTENDED PURPOSES. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | BERNARDO MONTERO | PersonNm |
| Title | PRESIDENT | TitleTxt |
| Base Compensation Filing Org | $152,752 | BaseCompensationFilingOrgAmt |
| Compensation Based On Rltd Orgs | $0 | CompensationBasedOnRltdOrgsAmt |
| Bonus Filing Organization | $0 | BonusFilingOrganizationAmount |
| Bonus Related Organizations | $0 | BonusRelatedOrganizationsAmt |
| Other Compensation Filing Org | $0 | OtherCompensationFilingOrgAmt |
| Other Compensation Rltd Orgs | $0 | OtherCompensationRltdOrgsAmt |
| Deferred Compensation Flng Org | $0 | DeferredCompensationFlngOrgAmt |
| Deferred Comp Rltd Orgs | $0 | DeferredCompRltdOrgsAmt |
| Nontaxable Benefits Filing Org | $0 | NontaxableBenefitsFilingOrgAmt |
| Nontaxable Benefits Rltd Orgs | $0 | NontaxableBenefitsRltdOrgsAmt |
| Total Compensation Filing Org | $152,752 | TotalCompensationFilingOrgAmt |
| Total Compensation Rltd Orgs | $0 | TotalCompensationRltdOrgsAmt |
| Comp Report Prior990 Filing Org | $0 | CompReportPrior990FilingOrgAmt |
| Comp Report Prior990 Rltd Orgs | $0 | CompReportPrior990RltdOrgsAmt |
Schedule K IRS990ScheduleK
Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp (2 entries)
| Bond ReferenceBondReferenceCd | Bond Issuer EINBondIssuerEIN | Bond IssuedBondIssuedDt | Issue PriceIssuePriceAmt | PurposePurposeDesc | DefeasedDefeasedInd | On Behalf Of IssuerOnBehalfOfIssuerInd | Pool FinancingPoolFinancingInd | CUSIPCUSIPNum |
|---|---|---|---|---|---|---|---|---|
| MIAMI-DADE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY | ||||||||
| A | 591662816 | 2017-12-06 | $12,000,000 | FUND CAPITAL IMPROVEMENTS | 0 | 0 | 0 | |
| ARLINGON HIGHER EDUCATION FINANCE CORPORATION | ||||||||
| B | 273906171 | 2021-03-31 | $44,375,567 | FUND CAPITAL IMPROVEMENTS | 0 | 0 | 0 | 041806F70 |
Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp (2 entries)
| Bond ReferenceBondReferenceCd | Total ProceedsTotalProceedsAmt | Capital ExpendituresCapitalExpendituresAmt | Refunding Tax Exempt BondsRefundingTaxExemptBondsInd | Refunding Taxable BondsRefundingTaxableBondsInd | Final Allocation MadeFinalAllocationMadeInd | Adequate Books And Rec MaintAdequateBooksAndRecMaintInd | In Reserve FundInReserveFundAmt | Issuance Costs From ProceedsIssuanceCostsFromProceedsAmt |
|---|---|---|---|---|---|---|---|---|
| A | $12,000,000 | $12,000,000 | 0 | 0 | Yes (1) | Yes (1) | ||
| B | $44,375,567 | 0 | 0 | Yes (1) | Yes (1) | $2,805,931 | $885,564 |
Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp (2 entries)
| Bond ReferenceBondReferenceCd | Form8038 T FiledForm8038TFiledInd | Rebate Not Due YetRebateNotDueYetInd | Exception To RebateExceptionToRebateInd | No Rebate DueNoRebateDueInd | Variable Rate IssueVariableRateIssueInd | Hedge Identified In Bks And RecHedgeIdentifiedInBksAndRecInd | Gross Proceeds Invested In GICGrossProceedsInvestedInGICInd | Gross Proceeds InvestedGrossProceedsInvestedInd | Written Proc To Monitor ReqsWrittenProcToMonitorReqsInd |
|---|---|---|---|---|---|---|---|---|---|
| A | 0 | 0 | Yes (1) | 0 | 0 | 0 | 0 | 0 | Yes (1) |
| B | 0 | 0 | Yes (1) | 0 | 0 | 0 | 0 | 0 | Yes (1) |
Procedures Corrective Action ProceduresCorrectiveActionGrp (2 entries)
| Bond ReferenceBondReferenceCd | Procedures Corrective ActionProceduresCorrectiveActionInd |
|---|---|
| A | Yes (1) |
| B | Yes (1) |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 3 | ACADEMICA DADE LLC, ACADEMICA BROWARD LLC,AND ACADEMICA SOUTHWEST LLC, EDUCATIONAL SERVICE AND SUPPORT PROVIDER COMPANIES, PROVIDE PROFESSIONAL SERVICES AND RELATED SUPPORT TO PUBLIC CHARTER SCHOOLS, INCLUDING, BUT NOT LIMITED TO, ACADEMIC SUPPORT, FACILITY DEVELOPMENT AND COMPLIANCE, HUMAN RESOURCE AND PAYROLL COORDINATION, REGULATORY COMPLIANCE, LEGAL AND CORPORATE UPKEEP, BOOKKEEPING AND ACCOUNTING, BUDGETING, AND FINANCIAL REPORTING. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE ORGANIZATION REVIEWS THE CONTENTS OF THE FORM 990 BEFORE SUBMITTING TO INTERNAL REVENUE SERVICE. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE ORGANIZATION REQUIRES THAT ALL OFFICERS AND/OR DIRECTORS DISCLOSE ANY ACTIVITY THAT MAY BE A CONFLICT OF INTEREST. |
| FORM 990, PART VI, SECTION B, LINE 15 | DURING THE DETERMINATION OF COMPENSATION OF OFFICERS OR KEY EMPLOYEES, THE ORGANIZATION REVIEWS THE OFFICER'S CONTRACT, BUDGET, AND PERFORMANCE. |
| FORM 990, PART VI, SECTION C, LINE 18 | THIS INFORMATION IS AVAILABLE TO THE PUBLIC VIA WWW.GUIDESTAR.ORG. |
| FORM 990, PART VI, SECTION C, LINE 19 | THIS INFORMATION IS AVAILABLE UPON REQUEST. |
| FORM 990, PART XI, LINE 9: | AS OF JULY 1, 2020, THE SCHOOL IMPLEMENTED GASB STATEMENT NO. 84. -182,880. FIDUCIARY ACTIVITIES. THIS STATEMENT ESTABLISHES NEW CRITERIA FOR IDENTIFYING FIDUCIARY ACTIVITIES WHICH, WHEN MET, REQUIRE THAT ACTIVITIES BE REPORTED IN A FIDUCIARY FUND IN THE BASIC FINANCIAL STATEMENTS. ITEMS PREVIOUSLY REPORTED AS PART OF THE AGENCY FUND CLASSIFICATION OF THE FIDUCIARY FUND STATEMENTS WERE REVIEWED TO EVALUATE IF THEY MET THE NEW CUSTODIAL FUNDS CRITERIA. THE SCHOOL IDENTIFIED THE SCHOOL'S INTERNAL ACCOUNT AS NON-FIDUCIARY AND RE-CATEGORIZED THEM AS ASSIGNED IN THE SPECIAL REVENUE FUND. |
| SECTION 1.263(A)-1(F) DE MINIMIS SAFE HABOR ELECTION | SOMERSET ACADEMY INC 6340 SUNSET DRIVE MIAMI, FL 33143 EIN:31-1569428 FOR THE YEAR ENDING JUNE 30, 2021 SOMERSET ACADEMY INC IS MAKING THE MINIMIS SAFE HABOR ELECTION UNDER REG.SEC.1.263(A)-1(F). |
| SECTION 1.263(A)-1(N) ELECTION | SOMERSET ACADEMY INC 6340 SUNSET DRIVE MIAMI, FL 33143 EIN:31-1569428 FOR THE YEAR ENDING JUNE 30, 2021 SOMERSET ACADEMY INC IS ELECTING TO CAPITALIZE REPAIRS AND MAINTENANCE COSTS UNDER REG.SEC.1.263(A)-1(N). |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SOMERSET ACADEMY FOUNDATION INC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 20805 JOHNSON ST | AddressLine1Txt |
| City | PEMBROKE PINES | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 33029 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 464129017 | EIN |
| Primary Activities | EDUCATIONAL SUPPORT | PrimaryActivitiesTxt |
| Legal Domicile State | FL | LegalDomicileStateCd |
| Exempt Code Section | 501(C)(3) | ExemptCodeSectionTxt |
| Public Charity Status | LINE 12A, I | PublicCharityStatusTxt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NO | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Controlled Organization | 0 | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | Yes (1) | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | Yes (1) | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (2 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| SOMERSET ACADEMY FOUNDATION | ||
| K | $1,418,244 | FAIR MARKET VALUE |
| SOMERSET ACADEMY FOUNDATION | ||
| S | $143,801 | FAIR MARKET VALUE |
Comments