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← TRUE NORTH CLASSICAL ACADEMY INC

Form 990 for tax year 2023

Filed by TRUE NORTH CLASSICAL ACADEMY INC.

Totals

Total revenue
$28,362,316
Total expenses
$28,417,188
Contributions and grants received
$3,548,537
Grants paid
$0
Program service revenue
$24,562,327
Investment income
$251,452
Other revenue
$0
Total assets, end of year
$58,350,562
Total liabilities, end of year
$54,906,642
Net assets or fund balances, end of year
$3,443,920
Program services expenses (Part IX)
$21,116,081
Management and general expenses
$7,301,107
Fundraising expenses
$0
Program service expenses (Part III)
$21,116,081

Program services were 74.3% 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)

    $1,608,701

  • 1f · All other contributions, gifts and grants

    $1,939,836

  • 2a · Program service revenue: GOVERNMENT AGENCIES

    total $24,562,327 · related or exempt $24,562,327

  • 3 · Investment income

    total $251,452 · excluded $251,452

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $324,044 · program services $144,044 · management and general $180,000

  • 7 · Other salaries and wages

    total $12,448,125 · program services $9,961,296 · management and general $2,486,829

  • 8 · Pension plan contributions

    total $183,302 · program services $145,745 · management and general $37,557

  • 9 · Other employee benefits

    total $896,659 · program services $709,437 · management and general $187,222

  • 10 · Payroll taxes

    total $997,918 · program services $789,553 · management and general $208,365

  • 11g · Fees: other

    total $2,835,772 · program services $2,000,269 · management and general $835,503

  • 13 · Office expenses

    total $1,667,354 · program services $1,531,366 · management and general $135,988

  • 16 · Occupancy

    total $3,350,774 · program services $3,302,611 · management and general $48,163

  • 20 · Interest

    total $3,659,379 · program services $1,452,162 · management and general $2,207,217

  • 22 · Depreciation, depletion and amortization

    total $1,221,516 · program services $522,546 · management and general $698,970

  • 24a · Other expenses: OTHER EXPENSES

    total $832,345 · program services $557,052 · management and general $275,293

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,206,027 · end of year $8,059,165

  • 3 · Pledges and grants receivable

    beginning of year $1,857,775 · end of year $992,813

  • 9 · Prepaid expenses and deferred charges

    beginning of year $450,172 · end of year $501,076

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

    $38,209,438

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

    $3,916,445

  • 10c · Land, buildings and equipment, net

    beginning of year $27,930,648 · end of year $34,292,993

  • 15 · Other assets

    beginning of year $15,279,008 · end of year $14,504,515

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,401,125 · end of year $1,273,992

  • 19 · Deferred revenue

    beginning of year $113,560 · end of year $209,605

  • 22 · Loans and payables to officers and key people

    beginning of year $896,500 · end of year $325,000

  • 24 · Unsecured notes and loans payable

    beginning of year $29,847,216 · end of year $37,701,164

  • 25 · Other liabilities

    beginning of year $15,966,437 · end of year $15,396,881

  • 27 · Net assets without donor restrictions

    beginning of year $3,498,792 · end of year $3,443,920

Mission and programs · 2023

Mission

THE FIRST CLASSICAL SCHOOL IN MIAMI, TRUE NORTH IS PART OF A GROWING COMMUNITY OF CLASSICAL SCHOOLS THAT ARE FREQUENTLY FOUND ON THE LISTS OF THE BEST SCHOOLS IN THE COUNTRY. THE TRUE NORTH SCHOOL NETWORK PROVIDES OUR STUDENTS WITH A SUPERIOR ACADEMIC EXPERIENCE AND MORAL DEVELOPMENT IN A TUITION-FREE PUBLIC CHARTER SCHOOL THAT PREVIOUSLY WAS ONLY AVAILABLE IN EXCLUSIVE PRIVATE SCHOOLS.

Activities or mission (Part I)

TRUE NORTH CLASSICAL ACADEMY COMBINES A CLASSICAL EDUCATION WITH A SCHOOL CULTURE OF EXCELLENCE TO CREATE SCHOOLS IN WHICH OUR STUDENTS GROW TO BECOME COURAGEOUS LEADERS, VIRTUOUS CRITICAL THINKERS, CONFIDENT SPEAKERS, AND COMPETENT WRITERS.

  • THE FIRST CLASSICAL SCHOOL IN MIAMI, TRUE NORTH IS PART OF A GROWING COMMUNITY OF CLASSICAL SCHOOLS THAT ARE FREQUENTLY FOUND ON THE LISTS OF THE BEST SCHOOLS IN THE COUNTRY. THE TRUE NORTH SCHOOL NETWORK PROVIDES OUR STUDENTS WITH A SUPERIOR ACADEMIC EXPERIENCE AND MORAL DEVELOPMENT IN A TUITION-FREE PUBLIC CHARTER SCHOOL THAT PREVIOUSLY WAS ONLY AVAILABLE IN EXCLUSIVE PRIVATE SCHOOLS.

    Expenses $21,116,081 · Revenue $24,562,327

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

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

  • Pete Windhorst

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jose Felix Diaz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mike Bileca

    CEO/PRESIDENT

    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

  • Paul Powell

    EXECUTIVE DIRECTOR

    Total calculated
    $144,044
    From this org
    $144,044
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Jeanine Finlay

    HEAD OF SCHOOL

    Total calculated
    $131,058
    From this org
    $131,058
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Jose Nodarse

    DIRECTOR OF FINANCE

    Total calculated
    $131,462
    From this org
    $131,462
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Chereen Coile

    HEAD OF SCHOOL

    Total calculated
    $109,081
    From this org
    $109,081
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Emma Devitt

    DEAN

    Total calculated
    $110,768
    From this org
    $110,768
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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
2023
Filed
10 February 2025
IRS schema version
2023v6.0
Source object
202520419349301827

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