Overview
What is Somerset Academy Inc?
Somerset Academy Inc, based in Miami, Florida, is a charter school operator with a strong commitment to education. Established in various district school boards across Miami-Dade, Broward County, Palm Beach County, Duval County, St. Lucie County, and Texas State Board of Education, they serve over 30,500 students annually. Their mission is to deliver equitable, top-tier education and cultivate an environment that encourages maximum student achievement. With a workforce of 3,822 employees, they promote the growth of accountable, 21st-century learners in a secure and stimulating setting. Somerset Academy, Inc. prides itself on operating in multiple districts and aims to provide quality education for all students.
Official website here: www.somersetacademyschools.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81%, Three-Star out of Four Star rating from Charity Navigator.
Somerset Academy Inc has received a Three-Star rating due to its solid performance in Accountability and Finance, scoring 81%. This rating is a reflection of the organization's commitment to transparency and responsibility, with a strong emphasis on having an independent board and clear policies in place.
The organization excels in several areas, including having a fully independent board and a high program expense ratio of nearly 90%, indicating that the majority of its funds are directed towards its programs. The presence of comprehensive financial oversight mechanisms, such as an audit and oversight committee and conflict of interest policies, further enhances its credibility and trustworthiness.
However, the organization faces challenges in its liabilities to assets ratio, scoring zero out of fifteen points in this category. This may suggest potential concerns regarding financial stability, which is something that potential donors and stakeholders might want to consider when assessing the overall health of the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Somerset Academy Inc legitimate?
Somerset Academy Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Somerset Academy Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $138,465,028
For more financial information, click here
Official website here: www.somersetacademyschools.com
What is the mission statement of Somerset Academy Inc?
Somerset Academy Inc is committed to delivering equitable, top-tier education to all students. As a charter school operator in various district school boards, the organization strives to create an environment that optimizes student achievement and encourages the development of responsible, 21st-century learners. Somerset Academy, Inc. prioritizes student safety and enrichment while fostering a culture that emphasizes accountability and academic growth. Their dedication extends to providing high-quality education in a diverse range of locations.
Official website here: www.somersetacademyschools.com
Who is the CEO of Somerset Academy Inc?
Todd German is the Director,Chairman,Treasurer of Somerset Academy Inc.
Official website here: www.somersetacademyschools.com
What is the revenue of Somerset Academy Inc?
Somerset Academy Inc's revenue in 2022 was $324,310,430.
Official website here: www.somersetacademyschools.com
Who are the executives of Somerset Academy Inc and what are their salaries?
The average compensation at Somerset Academy Inc during 2022 was $36,228. There are 3822 employees and 6852 volunteers at Somerset Academy Inc.
Here are 21 key members and their salaries:
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- Compensation: $123,332
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- Compensation: $114,878
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- Compensation: $110,534
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Official website here: www.somersetacademyschools.com
Where can I find the form 990 for Somerset Academy Inc?
Somerset Academy Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.somersetacademyschools.com
Learn more at the official website: www.somersetacademyschools.com
Mission Statement of Somerset Academy Inc
Somerset Academy Inc, a dedicated charter school operator, is committed to delivering equitable, top-tier education to all students. Housed in the district school boards of Miami-Dade, Broward County, Palm Beach County, Duval County, St. Lucie County, and Texas State Board of Education, this organization strives to create an academic culture that prioritizes student achievement and nurtures the development of responsible, 21st-century learners.
In a safe and stimulating environment, Somerset Academy Inc fosters the growth and progress of its students. The organization's unwavering dedication to education equality ensures that every child receives the resources and support they need to succeed. By promoting a culture that values accountability and academic excellence, Somerset Academy Inc sets the foundation for students to reach their full potential and flourish as responsible citizens in the modern world.
Through partnerships with various district school boards, Somerset Academy Inc extends its reach and impact, touching the lives of students across multiple counties. The organization's mission remains unchanged, with a steadfast commitment to enhancing educational opportunities and shaping tomorrow's leaders.
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Impact
October, 2024
Somerset Academy Inc. has made a significant impact on education by operating as a charter school provider across several districts in Florida and Texas. With a focus on equitable, high-quality education, Somerset Academy serves over 30,500 students from pre-kindergarten through twelfth grade. The organization is committed to maximizing student achievement while fostering an environment conducive to learning.
By promoting a culture that prioritizes accountability and the development of 21st-century skills, Somerset Academy prepares students for future challenges. It offers a safe and enriching environment, ensuring that all students have the opportunity to thrive academically and socially. Through its dedicated approach, Somerset Academy Inc. addresses educational disparities and contributes to the overall advancement of the communities it serves.
This information is meant to be a general summary of Somerset Academy Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $69,574
- Program Service Revenue: $21,367,735
- Gross Receipts: $324,310,430
Assets and Liabilities:
- Total Assets: $514,166,798
- Total Liabilities: $409,963,720
- Net Assets: $104,203,078
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
COMMUNITY SERVICES
Revenue
$13,825,934
PROGRAM SVCS: INSTRUCTION SERVICE
Revenue
$3,139,787
PROGRAM SVCS: VIRTUAL FEES
Revenue
$1,667,509
PROGRAM SVCS: LUNCH FEES
Revenue
$1,587,801
PROGRAM SVCS: OPERATION OF PLANT
Revenue
$635,597
Organization Details
Founding Year
1997
Phone
(305) 669-2906Principal Officer
Todd German
Main Address
6340 SUNSET DRIVE, MIAMI, FL, 33143
NTEE Category
Code: B20Z - Education
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