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Employer Identification Number 31-1569428

SOMERSET ACADEMY INC is a USA domiciled entity or foreign entity operating in the USA. The EIN ihas been issued by the IRS

Company Name:SOMERSET ACADEMY INC
Employer identification number (EIN):31-1569428
EIN Issuing AuthoritySmall Business Administration SBA Unit
Federal tax statusExempt from federal income tax. Registered as a non-profit under 501(c)(3) Title 26 of the United States Code

Organization Overview

Mission StatementESTABLISHED AS CHARTER SCHOOL OPERATOR IN DISTRICT SCHOOL BOARDS OF MIAMI-DADE, BROWARD COUNTY, PALM BEACH COUNTY, DUVAL COUNTY, ST. LUCIE COUNTY, AND TEXAS STATE BOARD OF EDUCATION. SOMERSET ACADEMY, INC. IS DEDICATED TO PROVIDING EQUITABLE, HIGH-QUALITY EDUCATION FOR ALL STUDENTS, AND PROMOTES A CULTURE THAT MAXIMIZES STUDENT ACHIEVEMENT AND FOSTERS THE DEVELOPMENT OF ACCOUNTABLE, 21ST CENTURY LEARNERS IN A SAFE AND ENRICHING ENVIRONMENT.
Number of Employees2495
Number of Volunteers6125
Year Formed1997

Organization Governance

Legal DomicileFL
Voting Members - Governing Body8
Voting Members - Independent8

Organization Financials

2023-06-30
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 21,367,735
Program Service Revenue from current yearUSD $ 25,346,401
Investment Income from prior yearUSD $ 69,574
Investment Income from current yearUSD $ 2,637,490
Other Revenue from prior yearUSD $ 705,385
Other Revenue from current yearUSD $ 1,078,251
Gross receipts from all sourcesUSD $ 372,140,972
Net assets / fund balances at end of fiscal yearUSD $ 121,078,854
Net assets / fund balances at beginning of fiscal yearUSD $ 104,203,078
Total liabilities at end of fiscal yearUSD $ 424,978,816
Total liabilities at beginning of fiscal yearUSD $ 409,963,720
Total assets at end of fiscal yearUSD $ 546,057,670
Total assets at beginning of fiscal yearUSD $ 514,166,798
Revenues less expenses for current yearUSD $ 16,875,776
Revenues less expenses for previous yearUSD $ 3,582,221
Total expenses for current yearUSD $ 355,265,196
Total expenses for previous yearUSD $ 320,728,209
Other expenses in current yearUSD $ 170,931,994
Other expenses in previous yearUSD $ 153,947,348
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 184,253,202
Employee salary and benefits paid in previous yearUSD $ 166,511,065
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 80,000
Grants and similar amounts paid in previous yearUSD $ 269,796
Total revenue in current fiscal yearUSD $ 372,140,972
Total revenue in previous fiscal yearUSD $ 324,310,430
Contributions and grants from current yearUSD $ 343,078,830
Contributions and grants from previous yearUSD $ 302,167,736
Total of other revenueUSD $ 1,078,251
2022-06-30
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 10,759,889
Program Service Revenue from current yearUSD $ 21,367,735
Investment Income from prior yearUSD $ 13,779
Investment Income from current yearUSD $ 69,574
Other Revenue from prior yearUSD $ 824,954
Other Revenue from current yearUSD $ 705,385
Gross receipts from all sourcesUSD $ 324,310,430
Net assets / fund balances at end of fiscal yearUSD $ 104,203,078
Net assets / fund balances at beginning of fiscal yearUSD $ 103,799,230
Total liabilities at end of fiscal yearUSD $ 409,963,720
Total liabilities at beginning of fiscal yearUSD $ 93,307,762
Total assets at end of fiscal yearUSD $ 514,166,798
Total assets at beginning of fiscal yearUSD $ 197,106,992
Revenues less expenses for current yearUSD $ 3,582,221
Revenues less expenses for previous yearUSD $ 27,087,110
Total expenses for current yearUSD $ 320,728,209
Total expenses for previous yearUSD $ 266,814,660
Other expenses in current yearUSD $ 153,947,348
Other expenses in previous yearUSD $ 123,223,234
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 166,511,065
Employee salary and benefits paid in previous yearUSD $ 143,446,426
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 269,796
Grants and similar amounts paid in previous yearUSD $ 145,000
Total revenue in current fiscal yearUSD $ 324,310,430
Total revenue in previous fiscal yearUSD $ 293,901,770
Contributions and grants from current yearUSD $ 302,167,736
Contributions and grants from previous yearUSD $ 282,303,148
Total of other revenueUSD $ 705,385
2021-06-30
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 8,845,881
Program Service Revenue from current yearUSD $ 10,759,889
Investment Income from prior yearUSD $ 700,651
Investment Income from current yearUSD $ 13,779
Other Revenue from prior yearUSD $ 1,270,539
Other Revenue from current yearUSD $ 824,954
Gross receipts from all sourcesUSD $ 293,901,770
Net assets / fund balances at end of fiscal yearUSD $ 103,799,230
Net assets / fund balances at beginning of fiscal yearUSD $ 76,895,000
Total liabilities at end of fiscal yearUSD $ 93,307,762
Total liabilities at beginning of fiscal yearUSD $ 77,201,220
Total assets at end of fiscal yearUSD $ 197,106,992
Total assets at beginning of fiscal yearUSD $ 154,096,220
Revenues less expenses for current yearUSD $ 27,087,110
Revenues less expenses for previous yearUSD $ 2,002,069
Total expenses for current yearUSD $ 266,814,660
Total expenses for previous yearUSD $ 249,353,491
Other expenses in current yearUSD $ 123,223,234
Other expenses in previous yearUSD $ 110,607,934
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 143,446,426
Employee salary and benefits paid in previous yearUSD $ 138,475,557
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 145,000
Grants and similar amounts paid in previous yearUSD $ 270,000
Total revenue in current fiscal yearUSD $ 293,901,770
Total revenue in previous fiscal yearUSD $ 251,355,560
Contributions and grants from current yearUSD $ 282,303,148
Contributions and grants from previous yearUSD $ 240,538,489
Total of other revenueUSD $ 824,954
2020-06-30
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 9,464,372
Program Service Revenue from current yearUSD $ 8,845,881
Investment Income from prior yearUSD $ 1,007,719
Investment Income from current yearUSD $ 700,651
Other Revenue from prior yearUSD $ 534,212
Other Revenue from current yearUSD $ 1,270,539
Gross receipts from all sourcesUSD $ 257,555,961
Net assets / fund balances at end of fiscal yearUSD $ 76,895,000
Net assets / fund balances at beginning of fiscal yearUSD $ 74,643,408
Total liabilities at end of fiscal yearUSD $ 77,201,220
Total liabilities at beginning of fiscal yearUSD $ 73,188,181
Total assets at end of fiscal yearUSD $ 154,096,220
Total assets at beginning of fiscal yearUSD $ 147,831,589
Revenues less expenses for current yearUSD $ 2,002,069
Revenues less expenses for previous yearUSD $ 677,238
Total expenses for current yearUSD $ 249,353,491
Total expenses for previous yearUSD $ 224,200,113
Other expenses in current yearUSD $ 110,607,934
Other expenses in previous yearUSD $ 102,943,321
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 138,475,557
Employee salary and benefits paid in previous yearUSD $ 121,236,792
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 270,000
Grants and similar amounts paid in previous yearUSD $ 20,000
Total revenue in current fiscal yearUSD $ 251,355,560
Total revenue in previous fiscal yearUSD $ 224,877,351
Contributions and grants from current yearUSD $ 240,538,489
Contributions and grants from previous yearUSD $ 213,871,048
Gross income from fundraising eventsUSD $ 6,758,603
Total of other revenueUSD $ 712,337
2019-06-30
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 8,289,595
Program Service Revenue from current yearUSD $ 9,464,372
Investment Income from prior yearUSD $ 515,032
Investment Income from current yearUSD $ 1,007,719
Other Revenue from prior yearUSD $ 739,805
Other Revenue from current yearUSD $ 534,212
Gross receipts from all sourcesUSD $ 231,364,464
Net assets / fund balances at end of fiscal yearUSD $ 74,643,408
Net assets / fund balances at beginning of fiscal yearUSD $ 73,966,170
Total liabilities at end of fiscal yearUSD $ 73,188,181
Total liabilities at beginning of fiscal yearUSD $ 38,705,398
Total assets at end of fiscal yearUSD $ 147,831,589
Total assets at beginning of fiscal yearUSD $ 112,671,568
Revenues less expenses for current yearUSD $ 677,238
Revenues less expenses for previous yearUSD $ 9,704,741
Total expenses for current yearUSD $ 224,200,113
Total expenses for previous yearUSD $ 185,653,647
Other expenses in current yearUSD $ 102,943,321
Other expenses in previous yearUSD $ 84,597,140
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 121,236,792
Employee salary and benefits paid in previous yearUSD $ 101,031,507
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 20,000
Grants and similar amounts paid in previous yearUSD $ 25,000
Total revenue in current fiscal yearUSD $ 224,877,351
Total revenue in previous fiscal yearUSD $ 195,358,388
Contributions and grants from current yearUSD $ 213,871,048
Contributions and grants from previous yearUSD $ 185,813,956
Gross income from fundraising eventsUSD $ 6,541,113
Total of other revenueUSD $ 480,212
2018-06-30
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 7,833,555
Program Service Revenue from current yearUSD $ 8,289,595
Investment Income from prior yearUSD $ 155,752
Investment Income from current yearUSD $ 515,032
Other Revenue from prior yearUSD $ 1,154,068
Other Revenue from current yearUSD $ 739,805
Gross receipts from all sourcesUSD $ 201,277,930
Net assets / fund balances at end of fiscal yearUSD $ 73,966,170
Net assets / fund balances at beginning of fiscal yearUSD $ 63,846,847
Total liabilities at end of fiscal yearUSD $ 38,705,398
Total liabilities at beginning of fiscal yearUSD $ 15,470,090
Total assets at end of fiscal yearUSD $ 112,671,568
Total assets at beginning of fiscal yearUSD $ 79,316,937
Revenues less expenses for current yearUSD $ 9,704,741
Revenues less expenses for previous yearUSD $ 9,265,908
Total expenses for current yearUSD $ 185,653,647
Total expenses for previous yearUSD $ 150,404,599
Other expenses in current yearUSD $ 84,597,140
Other expenses in previous yearUSD $ 72,669,405
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 101,031,507
Employee salary and benefits paid in previous yearUSD $ 77,631,694
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 25,000
Grants and similar amounts paid in previous yearUSD $ 103,500
Total revenue in current fiscal yearUSD $ 195,358,388
Total revenue in previous fiscal yearUSD $ 159,670,507
Contributions and grants from current yearUSD $ 185,813,956
Contributions and grants from previous yearUSD $ 150,527,132
Gross income from fundraising eventsUSD $ 6,063,356
Total of other revenueUSD $ 595,991
2017-06-30
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 6,358,827
Program Service Revenue from current yearUSD $ 7,833,555
Investment Income from prior yearUSD $ 26,839
Investment Income from current yearUSD $ 155,752
Other Revenue from prior yearUSD $ 939,637
Other Revenue from current yearUSD $ 1,154,068
Gross receipts from all sourcesUSD $ 164,267,848
Net assets / fund balances at end of fiscal yearUSD $ 63,846,847
Net assets / fund balances at beginning of fiscal yearUSD $ 54,580,939
Total liabilities at end of fiscal yearUSD $ 15,470,090
Total liabilities at beginning of fiscal yearUSD $ 14,198,698
Total assets at end of fiscal yearUSD $ 79,316,937
Total assets at beginning of fiscal yearUSD $ 68,779,637
Revenues less expenses for current yearUSD $ 9,265,908
Revenues less expenses for previous yearUSD $ 10,144,221
Total expenses for current yearUSD $ 150,404,599
Total expenses for previous yearUSD $ 137,534,208
Other expenses in current yearUSD $ 72,669,405
Other expenses in previous yearUSD $ 66,439,228
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 77,631,694
Employee salary and benefits paid in previous yearUSD $ 71,094,980
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 103,500
Grants and similar amounts paid in previous yearUSD $ 0
Total revenue in current fiscal yearUSD $ 159,670,507
Total revenue in previous fiscal yearUSD $ 147,678,429
Contributions and grants from current yearUSD $ 150,527,132
Contributions and grants from previous yearUSD $ 140,353,126
Gross income from fundraising eventsUSD $ 5,160,232
Total of other revenueUSD $ 591,177
2016-06-30
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 7,350,357
Program Service Revenue from current yearUSD $ 6,358,827
Investment Income from prior yearUSD $ -6,141
Investment Income from current yearUSD $ 26,839
Other Revenue from prior yearUSD $ 384,940
Other Revenue from current yearUSD $ 939,637
Gross receipts from all sourcesUSD $ 153,990,848
Net assets / fund balances at end of fiscal yearUSD $ 54,580,939
Net assets / fund balances at beginning of fiscal yearUSD $ 44,436,718
Total liabilities at end of fiscal yearUSD $ 14,198,698
Total liabilities at beginning of fiscal yearUSD $ 12,685,904
Total assets at end of fiscal yearUSD $ 68,779,637
Total assets at beginning of fiscal yearUSD $ 57,122,622
Revenues less expenses for current yearUSD $ 10,144,221
Revenues less expenses for previous yearUSD $ 5,949,794
Total expenses for current yearUSD $ 137,534,208
Total expenses for previous yearUSD $ 128,536,052
Other expenses in current yearUSD $ 66,439,228
Other expenses in previous yearUSD $ 62,847,188
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 71,094,980
Employee salary and benefits paid in previous yearUSD $ 65,607,864
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 0
Grants and similar amounts paid in previous yearUSD $ 81,000
Total revenue in current fiscal yearUSD $ 147,678,429
Total revenue in previous fiscal yearUSD $ 134,485,846
Contributions and grants from current yearUSD $ 140,353,126
Contributions and grants from previous yearUSD $ 126,756,690
Gross income from fundraising eventsUSD $ 6,363,226
Total of other revenueUSD $ 888,830

Organization Addresses

The following addresses have been detected as associated with Tax Indentification Number 311569428

USA Mailing Address
6340 SUNSET DRIVE
MIAMI
FL
33143
Date first seen: 2007-01-01
Date last seen: 2024-07-31

Nearby companies/organizations

The following companies are located in the same ZIP code areas:

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