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← MATER ACADEMY CENTRAL INC

Form 990 for tax year 2023

Filed by MATER ACADEMY CENTRAL INC.

Totals

Total revenue
$57,094,482
Total expenses
$54,560,878
Contributions and grants received
$52,747,094
Grants paid
$11,427
Program service revenue
$3,356,217
Investment income
$400,282
Other revenue
$590,889
Total assets, end of year
$95,165,040
Total liabilities, end of year
$89,932,105
Net assets or fund balances, end of year
$5,232,935
Program services expenses (Part IX)
$48,527,875
Management and general expenses
$6,033,003
Fundraising expenses
$0
Program service expenses (Part III)
$48,527,875

Program services were 88.9% 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)

    $50,555,231

  • 1f · All other contributions, gifts and grants

    $2,191,863

  • 2a · Program service revenue: FEES: AFTERCARE

    total $1,298,681 · related or exempt $1,298,681

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

    total $1,005,460 · related or exempt $1,005,460

  • 2c · Program service revenue: FEES: INSTRUCTION

    total $701,770 · related or exempt $701,770

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

    total $270,846 · related or exempt $270,846

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

    total $79,460 · related or exempt $79,460

  • 3 · Investment income

    total $400,282 · related or exempt $400,282

  • 11a · Other revenue: RIGHT OF USE ASSET INCOME

    total $489,150 · related or exempt $489,150

  • 11b · Other revenue: E-RATE

    total $61,344 · related or exempt $61,344

  • 11c · Other revenue: MISCELLANEOUS REVENUE

    total $40,395 · related or exempt $40,395

  • 11e · Other revenue, total

    $590,889

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $11,427 · program services $11,427

  • 5 · Compensation of officers, directors and key employees

    total $22,136,706 · program services $19,006,614 · management and general $3,130,092

  • 8 · Pension plan contributions

    total $252,496 · program services $180,416 · management and general $72,080

  • 9 · Other employee benefits

    total $3,820,709 · program services $3,286,852 · management and general $533,857

  • 11a · Fees: management

    total $2,337,000 · program services $1,558,000 · management and general $779,000

  • 11b · Fees: legal

    total $47,845 · management and general $47,845

  • 11c · Fees: accounting

    total $91,643 · program services $6,150 · management and general $85,493

  • 11g · Fees: other

    total $818,302 · program services $814,512 · management and general $3,790

  • 12 · Advertising and promotion

    total $71,725 · program services $71,725

  • 16 · Occupancy

    total $9,281,891 · program services $9,278,533 · management and general $3,358

  • 17 · Travel

    total $43,003 · program services $43,003

  • 20 · Interest

    total $24,977 · program services $24,977

  • 22 · Depreciation, depletion and amortization

    total $1,867,234 · program services $1,862,587 · management and general $4,647

  • 23 · Insurance

    total $865,606 · program services $865,606

  • 24a · Other expenses: SUPPLIES

    total $1,755,747 · program services $1,430,100 · management and general $325,647

  • 24b · Other expenses: FOOD SERVICES

    total $1,371,342 · program services $1,371,342

  • 24c · Other expenses: AFTERCARE EXPENSE

    total $1,084,261 · program services $1,084,261

  • 24d · Other expenses: LICENSES

    total $1,051,527 · program services $1,035,871 · management and general $15,656

  • 24e · All other expenses

    total $7,627,437 · program services $6,595,899 · management and general $1,031,538

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,682,453 · end of year $9,833,444

  • 3 · Pledges and grants receivable

    end of year $2,580,191

  • 4 · Accounts receivable

    beginning of year $29,500 · end of year $31,438

  • 9 · Prepaid expenses and deferred charges

    beginning of year $568,124 · end of year $340,043

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

    $11,744,858

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

    $5,204,938

  • 10c · Land, buildings and equipment, net

    beginning of year $6,279,421 · end of year $6,539,920

  • 15 · Other assets

    beginning of year $76,928,339 · end of year $75,840,004

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,819,495 · end of year $2,582,603

  • 23 · Secured mortgages and notes payable

    beginning of year $2,525,348 · end of year $2,443,704

  • 25 · Other liabilities

    beginning of year $81,443,663 · end of year $84,905,798

  • 27 · Net assets without donor restrictions

    beginning of year $63,687 · end of year $5,193,341

  • 28 · Net assets with donor restrictions

    beginning of year $2,635,644 · end of year $39,594

Mission and programs · 2023

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, 2024, APPROXIMATELY 4900 STUDENTS WERE ENROLLED.

    Expenses $48,527,875 · Grants $11,427 · Revenue $4,347,388

As filed on the 2023 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
    $183,825
    From this org
    $183,825
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $183,825
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $183,825

  • Alexandra Castillo

    PRINCIPAL

    Total calculated
    $103,694
    From this org
    $103,694
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Monica Cueto

    PRINCIPAL

    Total calculated
    $119,076
    From this org
    $119,076
    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
2023
Filed
12 March 2025
IRS schema version
2023v6.0
Source object
202530719349302103

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