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Nonprofiteer
← MATER ACADEMY CENTRAL INC

Form 990 for tax year 2024

Filed by MATER ACADEMY CENTRAL INC.

Totals

Total revenue
$65,697,134
Total expenses
$63,663,822
Contributions and grants received
$59,816,030
Grants paid
$11,148
Program service revenue
$4,661,734
Investment income
$598,361
Other revenue
$621,009
Total assets, end of year
$102,490,894
Total liabilities, end of year
$95,224,647
Net assets or fund balances, end of year
$7,266,247
Program services expenses (Part IX)
$55,887,743
Management and general expenses
$7,776,079
Fundraising expenses
$0
Program service expenses (Part III)
$55,887,743

Program services were 87.8% 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)

    $57,263,530

  • 1f · All other contributions, gifts and grants

    $2,552,500

  • 2a · Program service revenue: FEES: AFTERCARE

    total $1,741,245 · related or exempt $1,741,245

  • 2b · Program service revenue: FEES: COMMUNITY SERVICES

    total $1,583,214 · related or exempt $1,583,214

  • 2c · Program service revenue: FEES: INSTRUCTION

    total $1,000,477 · related or exempt $1,000,477

  • 2d · Program service revenue: FEES: FOOD SERVICES

    total $327,404 · related or exempt $327,404

  • 2e · Program service revenue: FEES: MAINTENANCE OF PLANT

    total $9,394 · related or exempt $9,394

  • 3 · Investment income

    total $598,361 · related or exempt $598,361

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $333,798 · related or exempt $333,798

  • 11b · Other revenue: NONCASH ROU ASSET REMEASUREMENT U

    total $287,211 · related or exempt $287,211

  • 11e · Other revenue, total

    $621,009

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $11,148 · program services $11,148

  • 5 · Compensation of officers, directors and key employees

    total $26,490,208 · program services $22,478,750 · management and general $4,011,458

  • 8 · Pension plan contributions

    total $367,854 · program services $291,067 · management and general $76,787

  • 9 · Other employee benefits

    total $4,774,338 · program services $4,080,692 · management and general $693,646

  • 11a · Fees: management

    total $2,705,600 · program services $1,803,733 · management and general $901,867

  • 11b · Fees: legal

    total $140,756 · management and general $140,756

  • 11g · Fees: other

    total $1,685,714 · program services $1,127,929 · management and general $557,785

  • 12 · Advertising and promotion

    total $122,248 · program services $122,214 · management and general $34

  • 16 · Occupancy

    total $9,986,996 · program services $9,986,996

  • 17 · Travel

    total $44,345 · program services $44,345

  • 20 · Interest

    total $34,947 · program services $34,947

  • 22 · Depreciation, depletion and amortization

    total $2,000,017 · program services $1,982,773 · management and general $17,244

  • 23 · Insurance

    total $983,519 · program services $849,944 · management and general $133,575

  • 24a · Other expenses: AFTERCARE EXPENSE

    total $1,813,968 · program services $1,813,968

  • 24b · Other expenses: FOOD SERVICES

    total $1,562,321 · program services $1,562,321

  • 24c · Other expenses: COMMUNITY SERVICE

    total $1,542,072 · program services $1,542,072

  • 24d · Other expenses: REPAIRS & MAINTENANCE

    total $1,340,666 · program services $1,340,666

  • 24e · All other expenses

    total $8,057,105 · program services $6,814,178 · management and general $1,242,927

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $9,833,444 · end of year $11,826,160

  • 3 · Pledges and grants receivable

    beginning of year $2,580,191 · end of year $1,796,304

  • 4 · Accounts receivable

    beginning of year $31,438

  • 9 · Prepaid expenses and deferred charges

    beginning of year $340,043 · end of year $110,915

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

    $12,791,310

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

    $7,090,082

  • 10c · Land, buildings and equipment, net

    beginning of year $6,539,920 · end of year $5,701,228

  • 15 · Other assets

    beginning of year $75,840,004 · end of year $83,056,287

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,582,603 · end of year $2,590,237

  • 23 · Secured mortgages and notes payable

    beginning of year $2,443,704 · end of year $1,620,752

  • 25 · Other liabilities

    beginning of year $84,905,798 · end of year $91,013,658

  • 27 · Net assets without donor restrictions

    beginning of year $5,193,341 · end of year $7,266,247

  • 28 · Net assets with donor restrictions

    beginning of year $39,594 · end of year $0

Mission and programs · 2024

Mission

THE VISION OF MATER ACADEMY CENTRAL INC. IS TO PROVIDE THE BEST EDUCATIONAL CHOICE TO FULFILL THE DESIRE FOR KNOWLEDGE THROUGH AN INNOVATIVE AND RIGOROUS COLLEGE PREPARATORY CURRICULUM. TO ACHIEVE THIS, MATER ACADEMY CENTRAL INC. WILL DEVELOP A COMMUNITY OF ENGAGED, WELL-ROUNDED CRITICAL THINKERS, ENRICH EVERY STUDENT WITH A SENSE OF PURPOSE TO IMPACT THE WORLD IN A POSITIVE MANNER, AND ENCOURAGE STUDENTS TO BE SELF-REFLECTIVE AND CONFIDENT.

  • MATER ACADEMY CENTRAL INC. PROVIDES EDUCATION FOR CHILDREN FROM KINDERGARTEN THROUGH TWELFTH GRADE. FOR THE FISCAL YEAR ENDED JUNE 30, 2025, APPROXIMATELY 5,700 STUDENTS WERE ENROLLED.

    Expenses $55,887,743 · Revenue $5,881,104

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Shannie Sadesky

    VICE CHAIR, DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Christian Crousillat

    CHAIRMAN, DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Maurene Sotero Balmaseda

    STUDENT ALUMNA, DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Idalia Suarez

    SECRETARY, DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Maria Beatriz Nunez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Yasmeen Khan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Roberto Blanch

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Kim Gularte

    COO

    Total calculated
    $0
    Hours/week
    2

  • Carmen Cangemi

    PRINCIPAL

    Total calculated
    $190,914
    From this org
    $190,914
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $190,914
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $190,914

  • Monica Cueto

    PRINCIPAL

    Total calculated
    $132,505
    From this org
    $132,505
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Erika Sanchez

    PRINCIPAL

    Total calculated
    $111,568
    From this org
    $111,568
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Alexandra Castillo

    PRINCIPAL

    Total calculated
    $108,863
    From this org
    $108,863
    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

  • 3 · Written employment contract
  • 3 · Approval by the board or compensation committee

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
25 February 2026
IRS schema version
2024v5.5
Source object
202640569349301764

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