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Nonprofiteer
← TRUE NORTH CLASSICAL ACADEMY INC

Form 990 for tax year 2022

Filed by TRUE NORTH CLASSICAL ACADEMY INC.

Totals

Total revenue
$21,732,930
Total expenses
$21,896,066
Contributions and grants received
$3,958,686
Grants paid
$0
Program service revenue
$17,752,036
Investment income
$22,208
Other revenue
$0
Total assets, end of year
$52,723,630
Total liabilities, end of year
$49,224,838
Net assets or fund balances, end of year
$3,498,792
Program services expenses (Part IX)
$16,444,074
Management and general expenses
$5,451,992
Fundraising expenses
$0
Program service expenses (Part III)
$16,444,074

Program services were 75.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $2,943,984

  • 1f · All other contributions, gifts and grants

    $1,014,702

  • 2a · Program service revenue: GOVERNMENT AGENCIES

    total $14,294,260 · related or exempt $14,294,260

  • 2b · Program service revenue: FEES FROM EDUCATIONAL

    total $2,187,526 · related or exempt $2,187,526

  • 2c · Program service revenue: STUDENT ACTIVITY FEES

    total $1,270,250 · related or exempt $1,270,250

  • 3 · Investment income

    total $22,208 · excluded $22,208

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $180,000 · management and general $180,000

  • 7 · Other salaries and wages

    total $10,896,774 · program services $9,112,862 · management and general $1,783,912

  • 8 · Pension plan contributions

    total $68,527 · program services $57,145 · management and general $11,382

  • 9 · Other employee benefits

    total $751,017 · program services $617,862 · management and general $133,155

  • 10 · Payroll taxes

    total $608,436 · program services $500,560 · management and general $107,876

  • 11g · Fees: other

    total $2,257,450 · program services $1,583,560 · management and general $673,890

  • 13 · Office expenses

    total $1,401,337 · program services $1,224,658 · management and general $176,679

  • 16 · Occupancy

    total $1,278,035 · program services $1,182,345 · management and general $95,690

  • 20 · Interest

    total $1,936,105 · program services $568,588 · management and general $1,367,517

  • 22 · Depreciation, depletion and amortization

    total $1,620,704 · program services $954,598 · management and general $666,106

  • 24a · Other expenses: OTHER EXPENSES

    total $897,681 · program services $641,896 · management and general $255,785

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,918,739 · end of year $7,206,027

  • 3 · Pledges and grants receivable

    beginning of year $2,883,355 · end of year $1,857,775

  • 9 · Prepaid expenses and deferred charges

    beginning of year $129,573 · end of year $450,172

  • 10a · Land, buildings and equipment: cost or other basis

    $30,625,568

  • 10b · Land, buildings and equipment: accumulated depreciation

    $2,694,920

  • 10c · Land, buildings and equipment, net

    beginning of year $24,374,940 · end of year $27,930,648

  • 15 · Other assets

    beginning of year $13,948,551 · end of year $15,279,008

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,705,134 · end of year $2,401,125

  • 19 · Deferred revenue

    beginning of year $74,073 · end of year $113,560

  • 22 · Loans and payables to officers and key people

    beginning of year $911,500 · end of year $896,500

  • 23 · Secured mortgages and notes payable

    beginning of year $26,637,278 · end of year $29,847,216

  • 24 · Unsecured notes and loans payable

    beginning of year $30,506 · end of year $0

  • 25 · Other liabilities

    beginning of year $14,234,739 · end of year $15,966,437

  • 27 · Net assets without donor restrictions

    beginning of year $3,661,928 · end of year $3,498,792

Mission and programs · 2022

Mission

TRUE NORTH IS A NETWORK OF HIGH-PERFORMANCE SCHOOLS THAT EDUCATE CHILDREN FROM INFANTS TO 12TH GRADE IN AN ENVIRONMENT OF ACADEMIC AND MORAL EXCELLENCE.

  • WE ARE A NETWORK OF CHARTER AND EARLY LEARNING SCHOOLS. THE SCHOOL'S EDUCATIONAL PURPOSE HOLDS THAT THE TRUE NATURE OF EDUCATION IS FORMING HEARTS AND MINDS TOWARD CHARACTER AND VIRTUE. OUR STUDENTS REACH FOR EXCELLENCE THROUGH COMBINATION OF A RIGOROUS CURRICULUM, HIGH CALIBER FACULTY, AND A COMMITMENT TO A NOBLE AND GOOD MISSION. OUR STUDENTS RANK AMONGST THE TOP IN THE STATE IN ENGLISH LANGUAGE ARTS, MATHEMATICS, SCIENCE, AND HISTORY.

    Expenses $16,444,074 · Revenue $17,752,036

As filed on the 2022 return.

Listed in Part VII

  • Luis E Diaz

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Rudy Pages

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Ernesto Rodriguez Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kent Windhorst

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mike Bileca

    EXECUTIVE

    Total calculated
    $180,000
    From this org
    $180,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $180,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $180,000

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
1 May 2024
IRS schema version
2022v5.0
Source object
202401229349301300

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