Sarasota Military Academy Inc

Nonprofit profile at a glance

EIN
651149763
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Sarasota, FL, USA
Phone
9419261700
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Charter Schools

Official website

Reported finances

Revenue
$13,449,547
Expenses
$13,060,894
Assets
$20,846,969
Liabilities
$9,895,954

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

16 people listed

Highest reported compensation

  • MS CHRISTINA BOWMAN (HEAD OF SCHOOL): $198,932 total reported compensation
  • MR STEPHEN KOK (DIRECTOR OF FINANCE): $181,640 total reported compensation
  • MR TOM VARA (HEAD OF SCHOOL PREP): $147,666 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Within a culture where every cadet is highly valued, sarasota military academy is committed to: (1) preparing students for college, careers, and citizenship; (2) developing tomorrow's leaders; and (3) cultivating character based upon the steadfast values of honor, integrity, and respect.

What it reported doing in 2024

The sarasota military academy (sma) offers a vast array of exciting, high interest, and in-depth course offerings (majors). All courses are designed to meet and exceed district and sunshine state standards and to launch students on a path to future success. Our graduates are well prepared for college, military service, or their chosen career field. We are proud to outline the "major opportunities" offered to sma cadets.small class sizes, individualized instruction, structure, discipline, stringently enforced dress codes, and respect in the classroom help to ensure a unique, high quality instructional program. We have no entrance requirements, but we do have high expectations for our cadetsboth academically and behaviorally. Additional information may be found on our website at: sarasotamilitaryacademy.org.recipient of the united states army's highest award "honor unit with distinction". Fully accredited by the southern association of colleges and schools/advanced. Drug testing and criminal history background checks of every employee. A recognized community leader for involvement in veterans and memorial day parades, civic events, blood bank contributions, letters to troops, wreaths across america and toys for tots. Family oriented with concern for the success of each cadet.jrotc advanced skills development and leadership - for students who are serious about joining the military and/or going to one of the service academies, staff training is available. Since sma is a college and career preparatory school, most of our students (85%) go on to collegerather than the military with a 95% graduation rate. Please be aware that although we are a military academy, and everyone takes jrotc, the focus in the program is on developing leadership qualities via the jrotc program with the end goal being to help our students become better citizens, leaders, and team players in their chosen path in life.sma prep participated in the veteran's and memorial day parades, wreaths across america and toys for tots. Sma prep joined the Florida sun coast league (fscl) and is competing with other members in many sports.

Operating model

Revenue model
Earned-program. 98% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 70
  • Accountability: 90
  • Sustainability: 47
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 63.7%; rating input score 64
  • Program expense ratio: 65.7%; rating input score 66
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 91.7%; rating input score 92; 24th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 2.9%; rating input score 46; 46th percentile among comparable filings
  • Total-asset coverage ratio: 1.6; rating input score 53; 53rd percentile among comparable filings
  • Liabilities to assets ratio: 0.47; rating input score 31; 31st percentile among comparable filings
  • Officer compensation ratio: 4.9%; rating input score 51; 51st percentile among comparable filings

Growth

  • Program expense growth: 0.3% per year; rating input score 100; 12th percentile among comparable filings
  • Revenue growth: 3.4% per year; rating input score 100; 29th percentile among comparable filings
  • Asset growth: 4.7% per year; rating input score 100; 33rd percentile among comparable filings

Details

  • Where the money goes: 63.7% of revenue deployed · 65.7% of spending went to programs
  • Governance: 11 of 12 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $8.6M in reported program spending
  • Leadership: top reported pay $199K · 16 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $1M reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Sustainability: Operating margin scored 46/100.
  • Review — Accountability: Governance controls: Audit committee oversight not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 53/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 31/100.
  • Review — Sustainability: Officer compensation ratio scored 51/100.