Montverde Academy
- Assets
- $55.3m
- Revenue
- $32.3m
- Investments
- $0.0
- Employees
- 345
- Location
- Montverde, FL
- Founding
- 04/1948
- Data as of
- 05/2022
- EIN
- 59-0657329
Organization Overview
Montverde Academy is located in Montverde, FL. The organization was established in 1948. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 05/2022, Montverde Academy employed 345 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Montverde Academy is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 05/2022, Montverde Academy generated $32.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $30.6m during the year ending 05/2022. While expenses have increased by 4.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO INSPIRE STUDENTS TO BECOME LEADERS WITH A PASSION FOR KNOWLEDGE, GLOBAL VISION AND INNOVATION WHILE DEVELOPING CHARACTER IN A NURTURING AND DIVERSE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MONTVERDE ACADEMY IS A COLLEGE PREPARATORY, COEDUCATIONAL INDEPENDENT SCHOOL SERVING GRADES PK 3-12. THE BOARDING PROGRAM SERVES GRADES 7-12 AND POST GRADUATE. AT THE HEART OF THE MONTVERDE ACADEMY EXPERIENCE IS AN ENGAGING AND CHALLENGING ACADEMIC ENVIRONMENT THAT GIVES STUDENTS THE DESIRE AND SKILLS TO ACHIEVE AT THE HIGHEST LEVELS. OUTSIDE OF THE CLASSROOM, STUDENTS CONTINUE TO DEVELOP THEIR TALENTS AND ABILITIES THROUGH INVOLVMENT IN FINE ARTS, ATHLETICS, SCHOOL CLUBS, AND SERVICE ORGANIZATIONS. AVERAGE ENROLLMENT DURING THE 2021-2022 SCHOOL YEAR WAS APPROXIMATELY 1,285 STUDENTS. APPROXIMATELY 185 STUDENTS ARE HOUSED ON CAMPUS; THE REMAINING STUDENTS ARE DAY STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Kasey C Kesselring Headmaster | Officer | 40 | $395,000 |
Kevin Boyle Head Basketball Coach | 40 | $280,965 | |
David Rath Administration | 40 | $218,000 | |
Michael W Potempa Jr Instructor | 40 | $216,783 | |
Bradley Long Director Of Finance And Ops | Officer | 40 | $193,120 |
David Bernatavitz Dean Of The Upper School | 40 | $163,874 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $699,547 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $699,547 |
| Total Program Service Revenue | $30,326,643 |
| Investment income | $493,801 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$467,565 |
| Net Income from Fundraising Events | $265,242 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$191,519 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $32,301,917 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $638,120 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,521,876 |
| Pension plan accruals and contributions | $953,286 |
| Other employee benefits | $0 |
| Payroll taxes | $895,978 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $176,828 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $43,841 |
| Fees for services: Other | $0 |
| Advertising and promotion | $245,949 |
| Office expenses | $111,649 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $745,560 |
| Travel | $305,228 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,226,550 |
| Insurance | $2,457,140 |
| All other expenses | $2,243,645 |
| Total functional expenses | $30,642,600 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,938,117 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $216,234 |
| Prepaid expenses and deferred charges | $33,027 |
| Net Land, buildings, and equipment | $41,266,977 |
| Investments—publicly traded securities | $10,300,052 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $517,928 |
| Total assets | $55,272,335 |
| Accounts payable and accrued expenses | $16,587 |
| Grants payable | $0 |
| Deferred revenue | $2,424,829 |
| Tax-exempt bond liabilities | $8,455,726 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $10,897,142 |
| Net assets without donor restrictions | $44,191,639 |
| Net assets with donor restrictions | $183,554 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $55,272,335 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Montverde Academy has recieved totaling $11,077.
| Awarding Organization | Amount |
|---|---|
Jason L & Carrie M Smith Charitable Tr Detroit, MI PURPOSE: SUPPORT FOR DAILY | $7,406 |
Acahand Foundation Wilmington, DE PURPOSE: GRANT TO SUPPORT MONTVERDE ACADEMY'S MUSIC PROGRAM | $2,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $698 |
Arthur J Gallagher Foundation Rolling Meadows, IL PURPOSE: GENERAL EXEMPT PURPOSE | $473 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
St Andrews School Of Boca Raton Inc Boca Raton, FL | $86,373,097 | $47,728,671 |
Lake Highland Preparatory School Inc Orlando, FL | $87,682,705 | $57,464,181 |
Montverde Academy Montverde, FL | $55,272,335 | $32,301,917 |
Rabun Gap-Nacoochee School Rabun Gap, GA | $105,001,665 | $32,375,355 |
Palmer Trinity Private School Inc Palmetto Bay, FL | $91,390,503 | $34,552,191 |
Episcopal School Of Jacksonville Inc Jacksonville, FL | $51,998,988 | $26,337,584 |
Belen Jesuit Preparatory School Inc Miami, FL | $43,846,695 | $27,791,869 |
Tallulah Falls School Inc Tallulah Falls, GA | $76,684,503 | $23,311,796 |
Whitefield Academy Inc Mableton, GA | $76,378,322 | $24,777,271 |
Riverside Military Academy Inc Gainesville, GA | $79,257,666 | $23,072,082 |
Tampa Preparatory School Inc Tampa, FL | $43,902,100 | $29,004,464 |
Admiral Farragut Academy Inc St Petersburg, FL | $21,987,210 | $17,628,245 |