The Master's Academy of Central Florida 
The information on this page was last updated 3/28/2024. If you see errors or omissions, please email: [email protected]
Summary
The Master's Academy is a world-class Christian school providing spiritual and academic excellence since 1986.
The Master's Academy opened its doors in 1986 to 230 students. After more than thirty years, TMA now serves over 1,000 students enrolled, K2 - 12th grade, on 33-acres of land on Lukas Lane in Oviedo.
Contact information
Mailing address:
The Master's Academy of Central Florida
1500 Lukas Lane
Oviedo, FL 32765
Website: mastersacademy.org
Phone: 407-971-2221
Email: [email protected]
Organization details
EIN: 592663620
CEO/President: Dr. William Harris
Chairman: Dr. Timothy Pursley
Board size: 5
Founder: Pat Mennenga
Ruling year: 1987
Tax deductible: Yes
Fiscal year end: 06/30
Member of ECFA: Yes
Member of ECFA since: 2010
Purpose
The Master's Academy is a world-class Christian school providing spiritual and academic excellence since 1986. This excellence is achieved firstly by partnering with parents, then secondly by creating opportunities for students to grow and thrive in their education. From Science, English, and Math to Athletics and Fine Arts, students are challenged to achieve their best, not just in school - but in life.
Mission statement
"Pursuing spiritual and academic excellence with Christian families by going the second mile."
Statement of faith
1. I believe in the verbal, plenary inspiration of both the Old and New Testaments, i.e., that the very words of the original Scriptures are infallible and inerrant, and that they are our final and absolute authority in every area of life and knowledge. (II Timothy 3:16; II Peter 1:21)
2. I believe in one God, eternally existing in three co-equal persons: Father, Son, and Holy Spirit. (John 4:24; Romans 8:14-15)
3. I believe that Jesus Christ was conceived by the Holy Spirit, born of the Virgin Mary, and that He is both undiminished Deity and genuine humanity in one person forever. (Isaiah 7:14; Matthew 1:8-25; Colossians 1:15; John 1:14; Philippians 2:6-9)
4. I believe that God the Holy Spirit is a personal Being who convicts the world of sin and who regenerates, indwells, empowers, guides, and bestows spiritual gifts on believers, and who seals them eternally for God. (John 6:37; John 16; Romans 8; Ephesians 1:13-14, 4:30)
5. I believe that man was created by a direct act of God in His image, not from previously existing life, that all men sinned in Adam (the historical father of the entire human race) and thus incurred both physical and spiritual death; and that all men have inherited a sinful nature. (Genesis 1:1-3; Ephesians 2:1; Romans 1 & 5; Romans 3:23)
6. I believe that Jesus Christ died as a substitutionary sacrifice for our sins and that through faith in Him as Lord and Savior, we are declared righteous by God. (II Corinthians 5:21; Hebrews 7:24- 27)
7. I believe that salvation is by grace through faith in Jesus Christ, totally apart from human merit, and that the experience of regeneration produces a new creature in Christ. (II Corinthians 5:17; Titus 3:5; Ephesians 2:8-9)
8. I believe that Jesus Christ rose bodily from the dead and that He ascended in like form into Heaven, where He continually ministers as our Great High Priest and Advocate. (Luke 24:1-6; Hebrews 10:12; I John 2:1-2; Hebrews 7:25)
9. I believe in the literal, visible, bodily return of Jesus Christ with His saints to establish His Kingdom. (Acts 1:9-11; Revelation 19; John 14:2)
10. I believe in the bodily resurrection of the just and the unjust, the everlasting blessedness of the saved, and the everlasting punishment of the lost. (Revelation 20, 21; I Corinthians 15)
11. I believe that all believers are under the mandate of Jesus Christ to proclaim the Gospel to all the world. (Matthew 28:18-20; Matthew 5:16)
Donor confidence score
Transparency grade
A
To understand our transparency grade, click here.
Financial efficiency ratings
Sector: K-12 Schools/Academies
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 268 of 1118 | 12 of 49 |
| Fund acquisition rating | | 683 of 1119 | 38 of 49 |
| Resource allocation rating | | 422 of 1119 | 17 of 49 |
| Asset utilization rating | | 90 of 1118 | 3 of 49 |
Financial ratios
| Funding ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 11% | 57% | 5% | 20% | 1% | 9% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 2% | 1% | 0% | 0% | 0% | 0% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 13% | 2% | 4% | 2% | 9% | 1% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 2% | 1% | 0% | 0% | 0% | 0% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 87% | 98% | 96% | 98% | 91% | 99% |
| Operating ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Program expense ratio Program expense ratio = Program services / Total expenses | 83% | 84% | 84% | 83% | 80% | 80% |
Spending ratio Spending ratio = Total expenses / Total revenue | 98% | 101% | 91% | 107% | 89% | 86% |
Program output ratio Program output ratio = Program services / Total revenue | 80% | 85% | 77% | 88% | 71% | 69% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 2% | -1% | 9% | -7% | 11% | 14% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 2% | -2% | 18% | -19% | 28% | 30% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 14% | 15% | 16% | 17% | 20% | 20% |
| Investing ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.50 | 0.74 | 0.63 | 0.66 | 0.53 | 0.49 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 3.10 | 21.99 | 10.67 | 13.07 | 8.03 | 12.21 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.87 | 16.25 | 6.69 | 8.59 | 4.26 | 5.98 |
| Liquidity ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Current ratio Current ratio = Total current assets / Total current liabilities | 3.06 | 0.35 | 0.69 | 0.47 | 1.00 | 0.63 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.33 | 2.87 | 1.46 | 2.11 | 1.00 | 1.60 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 3.17 | -1.38 | -0.82 | -1.55 | -0.01 | -1.20 |
| Solvency ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 32% | 64% | 66% | 77% | 75% | 73% |
Debt ratio Debt ratio = Debt / Total assets | 9% | 51% | 52% | 58% | 58% | 58% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 137% | 49% | 55% | 35% | 47% | 55% |
Financials
| Balance sheet | |||||
| Assets | 2023 | 2022 | 2021 | 2020 | 2019 |
| Cash | $774,283 | $1,744,369 | $1,563,514 | $3,050,590 | $2,053,518 |
| Receivables, inventories, prepaids | $408,221 | $737,520 | $340,529 | $249,600 | $215,402 |
| Short-term investments | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $1,182,504 | $2,481,889 | $1,904,043 | $3,300,190 | $2,268,920 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Fixed assets | $2,027,153 | $1,714,794 | $1,648,323 | $1,695,658 | $1,771,133 |
| Other long-term assets | $22,788,760 | $22,286,284 | $21,336,760 | $21,515,529 | $23,670,517 |
| Total long-term assets | $24,815,913 | $24,001,078 | $22,985,083 | $23,211,187 | $25,441,650 |
| Total assets | $25,998,417 | $26,482,967 | $24,889,126 | $26,511,377 | $27,710,570 |
| Liabilities | 2023 | 2022 | 2021 | 2020 | 2019 |
| Payables and accrued expenses | $697,921 | $791,052 | $1,437,382 | $796,266 | $631,084 |
| Other current liabilities | $2,693,534 | $2,825,318 | $2,578,432 | $2,511,610 | $2,993,070 |
| Total current liabilities | $3,391,455 | $3,616,370 | $4,015,814 | $3,307,876 | $3,624,154 |
| Debt | $13,157,170 | $13,766,262 | $14,358,693 | $15,432,614 | $16,131,044 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $0 | $0 | $760,189 | $1,184,898 | $529,857 |
| Total long-term liabilities | $13,157,170 | $13,766,262 | $15,118,882 | $16,617,512 | $16,660,901 |
| Total liabilities | $16,548,625 | $17,382,632 | $19,134,696 | $19,925,388 | $20,285,055 |
| Net assets | 2023 | 2022 | 2021 | 2020 | 2019 |
| Without donor restrictions | $9,449,792 | $9,100,335 | $5,754,430 | $6,585,989 | $7,405,515 |
| With donor restrictions | $0 | $0 | $0 | $0 | $20,000 |
| Net assets | $9,449,792 | $9,100,335 | $5,754,430 | $6,585,989 | $7,425,515 |
| Revenues and expenses | |||||
| Revenue | 2023 | 2022 | 2021 | 2020 | 2019 |
| Total contributions | $364,149 | $803,411 | $262,875 | $1,464,163 | $168,633 |
| Program service revenue | $18,734,844 | $17,445,635 | $15,044,049 | $14,444,077 | $13,425,177 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | ($6,226) | ($605) | $1,052 | ($13,230) | $24 |
| Other revenue | ($32,911) | ($1,768) | ($27,095) | $1,400 | $2,170,291 |
| Total other revenue | $18,695,707 | $17,443,262 | $15,018,006 | $14,432,247 | $15,595,492 |
| Total revenue | $19,059,856 | $18,246,673 | $15,280,881 | $15,896,410 | $15,764,125 |
| Expenses | 2023 | 2022 | 2021 | 2020 | 2019 |
| Program services | $16,201,357 | $13,977,970 | $13,523,546 | $11,282,067 | $10,839,053 |
| Management and general | $2,803,254 | $2,595,860 | $2,781,724 | $2,776,152 | $2,708,957 |
| Fundraising | $208,263 | $36,652 | $53,109 | $11,045 | $15,040 |
| Total expenses | $19,212,874 | $16,610,482 | $16,358,379 | $14,069,264 | $13,563,050 |
| Change in net assets | 2023 | 2022 | 2021 | 2020 | 2019 |
| Surplus (deficit) | ($153,018) | $1,636,191 | ($1,077,498) | $1,827,146 | $2,201,075 |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | ($153,018) | $1,636,191 | ($1,077,498) | $1,827,146 | $2,201,075 |
Compensation
| Name | Title | Compensation |
| Dr Dana Dionne | Head of School | $234,103 |
| Dr William Harris | Former President | $210,553 |
| Mike Macbeth | LS Teacher/Ath. Dir./Camp Dir. | $135,475 |
| Jade Matthews | CFO | $133,487 |
Compensation data as of: 6/30/2023
Response from ministry
No response has been provided by this ministry.
The information below was provided to MinistryWatch by the ministry itself. It was last updated 3/28/2024. To update the information below, please email: [email protected]
History
1986 - The Master's Academy opens with 210 students. K - 6th grades rented space in Fern Park while 7th - 12th grades rented church space in Winter Park. Looking back to that first year, TMA founder, Pat Mennenga, remembers that "it took everyone chipping in to make things happen and it really was an exciting, scary, and special time." One of TMA's first purchases was two 66 passenger buses from Mt. Arey, North Carolina. He laughs as he recalls, "As soon as Paul West and I crossed the Florida line with those busses, one blew the transmission! That is how we had to get started though. We bought what we could afford, we looked for deals and it took a lot of manpower to accomplish it all."
1993 - The middle school moves to a campus in Maitland made possible through a gift from the Citadel of Faith and Freedom.
1994 - The lower school moves to rented church space in Longwood. The high school added several portables to their rented space in Winter Park.
1999 - TMA secures its own land! Mike Batts, former Board Chairman, remembers when he and several members of the school's leadership went to visit with George and Olga Jakubcin. The Jakubcin family was one of the original Slavik families that settled in Oviedo; they owned a 30+ acre parcel of land that was formerly a celery farm. At that meeting, the leadership group discussed The Master's Academy with the Jakubcins; the vision that they had...the calling that they felt, the need for a "home", and that TMA was financially challenged. Mike states that he doubts seriously that he will ever forget the question that George Jakubcin posed... George said "Let me just ask you one thing. Does your school teach that Jesus Christ is our Lord and Savior, that He is the Son of God, and that He is the only way to salvation?" Mike said, "Yes, sir we do...every day." George responded, "Then I think we can work something out." It was from that conversation that a relationship began, and ultimately an agreement formed to enable TMA to acquire the 33-acre property that we sit on today.
2000 - The Oviedo campus opens to 6th - 12th grade students and athletic facilities are built.
2003 - The construction of two more buildings enables the lower school students to join the upper school on one campus in Oviedo.
2004 - Additional construction of 20,000 square feet includes a new weight room, large locker rooms, another science lab, several classrooms, and offices.
2007 - A cafeteria with a full-service kitchen is added to the campus, along with a brand-new playground and another building housing additional classrooms. Enrollment has grown to approximately 900
2010 - TMA's football field is converted to synthetic turf. This addition allows the field to be used year-round and also gives added durability enabling PE classes to utilize the field.
2011 - TMA purchases Camp Sparta, a retreat and conference center in Sebring, FL. Camp Sparta offers a beautiful setting for group retreats and a fun destination for youth summer camp! TMA students act as camp counselors to gain valuable experience in sharing their faith with young people. Additionally, the camp is home to TMA's annual high school retreats - a fun time to bond and grow spiritually.
2016 - TMA's Performing Arts Center is complete! This 53,754 sq foot building houses the Judi Tome Black Box Theatre, Band and Art classrooms, and a multi-purpose space with theater seating for 400+. The multi-purpose space is used as the Main Stage, a practice gymnasium, and a place for student activities.
Throughout TMA's timeline, many families have made significant sacrifices and tremendous contributions to breathe life into TMA, from the early years all the way to the present. Now, more than 30 years later, we are equally committed to the vision of our founders. This school is about honoring Jesus Christ and going the second mile with Christian families. Jesus Christ is the MASTER of The Master's Academy today, just as much as He was back in 1986.
Program accomplishments
In 2023, TMA's graduating class of 74 students earned 9.4 million dollars in scholarships, completed 11,927 community service hours in 95 organizations, and had a 90% acceptance rate into the college of their first choice.
Needs
We are fortunate to have a community that generously shares their money and time to make a difference for our students. Your gifts make improved initiatives and new facilities come to life. We are confident that TMA has a profound and lasting impact on students and families. We invite you to explore the various ways you can support The Master's Academy.