Form 990 for tax year 2024

Filed by MASTERS ACADEMY OF VERO BEACH INC.

Totals

Total revenue: $4,051,690
Total expenses: $3,938,908
Contributions and grants received: $191,035
Grants paid: $0
Program service revenue: $3,459,526
Investment income: $0
Other revenue: $401,129
Total assets, end of year: $2,385,817
Total liabilities, end of year: $263,395
Net assets or fund balances, end of year: $2,122,422
Program services expenses (Part IX): $3,875,825
Management and general expenses: $43,873
Fundraising expenses: $19,210
Program service expenses (Part III): $3,875,825

Program services were 98.4% 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.

1f · All other contributions, gifts and grants

$191,035
2a · Program service revenue: TUITION, FEES & RELATED INC

total $3,619,267 · related or exempt $3,619,267
2b · Program service revenue: TUITION DISCOUNT

total -$159,741 · related or exempt -$159,741
8a · Fundraising events: gross income

$55,125
8c · Net income from fundraising events

total $55,125 · excluded $55,125
11a · Other revenue: ATHLETIC INCOME & FEES

total $123,335 · related or exempt $123,335
11b · Other revenue: ADMINISTRATION INCOME

total $102,033 · related or exempt $102,033
11c · Other revenue: ORGANIZATION INCOME

total $64,104 · related or exempt $64,104
11d · All other revenue

total $56,532 · related or exempt $56,532
11e · Other revenue, total

$346,004

Functional expenses

Part IX, the statement of functional expenses.

7 · Other salaries and wages

total $2,479,398 · program services $2,441,848 · management and general $37,550
9 · Other employee benefits

total $297,535 · program services $297,535
10 · Payroll taxes

total $191,087 · program services $191,087
11g · Fees: other

total $14,575 · program services $14,575
12 · Advertising and promotion

total $30,459 · program services $30,459
13 · Office expenses

total $104,626 · program services $104,626
14 · Information technology

total $27,649 · program services $27,649
16 · Occupancy

total $184,805 · program services $179,437 · management and general $5,368
20 · Interest

total $3,810 · program services $3,810
22 · Depreciation, depletion and amortization

total $21,227 · program services $20,272 · management and general $955
23 · Insurance

total $69,725 · program services $69,725
24a · Other expenses: ATHLETIC EXPENSES

total $176,836 · program services $176,836
24b · Other expenses: EDUCATIONAL MATERIALS

total $91,076 · program services $91,076
24c · Other expenses: MAINTENANCE & REPAIR

total $88,740 · program services $88,740
24d · Other expenses: LUNCH PROGRAM -FOOD

total $57,093 · program services $57,093
24e · All other expenses

total $100,267 · program services $81,057 · fundraising $19,210

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $1,047,140 · end of year $1,117,510
4 · Accounts receivable

beginning of year $13,757 · end of year $27,099
10a · Land, buildings and equipment: cost or other basis

$1,604,996
10b · Land, buildings and equipment: accumulated depreciation

$878,320
10c · Land, buildings and equipment, net

beginning of year $916,867 · end of year $726,676
15 · Other assets

beginning of year $276,707 · end of year $514,532
17 · Accounts payable and accrued expenses

beginning of year $136,760 · end of year $150,434
19 · Deferred revenue

beginning of year $102,734 · end of year $112,961
25 · Other liabilities

beginning of year $5,337
27 · Net assets without donor restrictions

beginning of year $1,973,461 · end of year $1,607,890
28 · Net assets with donor restrictions

beginning of year $36,179 · end of year $514,532

Mission and programs · 2024

Mission

TO ACADEMICALLY CHALLENGE AND SPIRITUALLY DEVELOP EACH STUDENT TO IMPACT THE WORLD. COMMITTED TO EXCELLENCE IN EDUCATION, TRUTH AND AUTHORITY IN SCRIPTURES.

EDUCATION PROGRAMS: PRE-KINDERGARTEN: TO LAY A FOUNDATION FOR ACADEMIC EXCELLENCE AND TO INSTILL IN EACH CHILD A LOVE FOR LEARNING AS CHILDREN OF GOD. FEEDER PROGRAM FOR ELEMENTARY SCHOOL. 32 CHILDREN SERVED. . ELEMENTARY SCHOOL SCHOOL TEACHINGS BASED ON BIBLICAL WORLD VIEWS AND THAT EACH STUDENT IS A UNIQUELY CREATED, GIFTED, DISTINCT INDIVIDUAL WITH A PARTICULAR PURPOSE IN GOD'S PLAN. 88 STUDENTS ENROLLED. . MIDDLE SCHOOL SCHOOL TEACHINGS BASED ON BIBLICAL WORLD VIEWS AND THAT EACH STUDENT IS A UNIQUELY CREATED, GIFTED, DISTINCT INDIVIDUAL WITH A PARTICULAR PURPOSE IN GOD'S PLAN. 64 STUDENTS ENROLLED. . HIGH SCHOOL SCHOOL TEACHINGS BASED ON BIBLICAL WORLD VIEWS AND THAT EACH STUDENT IS A UNIQUELY CREATED, GIFTED, DISTINCT INDIVIDUAL WITH A PARTICULAR PURPOSE IN GOD'S PLAN. 53 STUDENTS ENROLLED

Expenses $3,640,352
LUNCH PROGRAM: TO PROVIDE LUNCH FOR STUDENTS THAT DO NOT BRING THEIR LUNCH. COST IS 3.50 PER LUNCH. APPROXIMATELY 108 LUNCHES SERVED EACH DAY

Expenses $57,093
ATHLETIC PROGRAMS - TO TEACH SPORTSMANSHIP, TO ENJOY COMPETITIVE SPORTS, AND ENHANCE ATHLETICS SKILLS (130 ATHLETES PARTICIPATED)

Expenses $176,836
TO ACADEMICALLY CHALLENGE EACH STUDENT.

Expenses $1,544

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

Listed in Part VII

DAWN CALCAGNO

BOARD MEMBER

Total calculated

$0
JONATHAN HARDIE

TREASURER

Total calculated

$0
KIM JONES

BOARD MEMBER

Total calculated

$0
MATTHEW MCCAIN

BOARD MEMBER

Total calculated

$0
DAVID MORGAN

CHAIRMAN

Total calculated

$0
WESLEY NORTON

BOARD MEMBER

Total calculated

$0
ANDRE VENDRES

BOARD MEMBER

Total calculated

$0
MONICA WASHINGTON

BOARD MEMBER

Total calculated

$0

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type: form_990
Tax year: 2024
Filed: 21 April 2026
IRS schema version: 2024v5.0
Source object: 202621119349300817

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