FALMOUTH ACADEMY INCORPORATED: Form 990, tax year 2020
View the entire original 990 at ProPublica ↗
- Organization
- FALMOUTH ACADEMY INCORPORATED (EIN 04-2620156)
- Tax period
- 2020-07-01 to 2021-06-30
- Filed
- 2022-02-21
- IRS object ID
- 202220529349300507
- Schema version
- 2020v4.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule E
- Schedule G
- Schedule I
- Schedule J
- Schedule L
- Schedule M
- Schedule O
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2022-02-21T09:07:45-06:00 | ReturnTs |
| Tax Period End | 2021-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 410746749 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CLIFTONLARSONALLEN LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | TWO INTERNATIONAL PLACE 22ND FLOOR | AddressLine1Txt |
| City | BOSTON | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02110 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2020-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 042620156 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FALMOUTH ACADEMY INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | FALM | BusinessNameControlTxt |
| Phone | 5084579696 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 7 HIGHFIELD DRIVE | AddressLine1Txt |
| City | FALMOUTH | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 025402345 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | CARMEN DISANTO | PersonNm |
| Person Title | DIRECTOR OF FINANCE & OPERATIONS | PersonTitleTxt |
| Phone | 5084579696 | PhoneNum |
| Signature | 2022-02-14 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | CARMEN | PersonFirstNm |
| Person Last | DISANTO | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | LAURA J KENNEY | PreparerPersonNm |
| PTIN | P00202198 | PTIN |
| Phone | 6177170831 | PhoneNum |
| Preparation | 2022-02-14 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 3 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2020 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | CARMEN DISANTO | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 7 HIGHFIELD DRIVE | AddressLine1Txt |
| City | FALMOUTH | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 025402345 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $9,147,809 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | FALMOUTHACADEMY.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1977 | FormationYr |
| Legal Domicile State | MA | LegalDomicileStateCd |
| Activity Or Mission | HARNESSING THE POWER OF INSPIRED LEARNING IN A WORLD-RENOWNED SCIENTIFIC AND VIBRANT ARTISTIC COMMUNITY, FALMOUTH ACADEMY EMBOLDENS EACH STUDENT TO TAKE CREATIVE AND INTELLECTUAL RISKS TO CONFIDENTLY ENGAGE THE CHALLENGES OF OUR TIMES. | ActivityOrMissionDesc |
| Voting Members Governing Body | 18 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 16 | VotingMembersIndependentCnt |
| Total Employee | 76 | TotalEmployeeCnt |
| Total Volunteers | 43 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $433,443 | PYContributionsGrantsAmt |
| CY Contributions Grants | $1,380,358 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $7,095,465 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $7,388,371 | CYProgramServiceRevenueAmt |
| PY Investment Income | $426,764 | PYInvestmentIncomeAmt |
| CY Investment Income | $165,794 | CYInvestmentIncomeAmt |
| PY Other Revenue | $94,445 | PYOtherRevenueAmt |
| CY Other Revenue | -$35,802 | CYOtherRevenueAmt |
| PY Total Revenue | $8,050,117 | PYTotalRevenueAmt |
| CY Total Revenue | $8,898,721 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $1,422,560 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $1,603,016 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $4,415,873 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $4,779,230 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $336,725 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $1,828,654 | PYOtherExpensesAmt |
| CY Other Expenses | $1,771,762 | CYOtherExpensesAmt |
| PY Total Expenses | $7,667,087 | PYTotalExpensesAmt |
| CY Total Expenses | $8,154,008 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $383,030 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $744,713 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $21,996,808 | TotalAssetsBOYAmt |
| Total Assets EOY | $24,013,781 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $1,938,560 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $1,677,405 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $20,058,248 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $22,336,376 | NetAssetsOrFundBalancesEOYAmt |
| Mission | HARNESSING THE POWER OF INSPIRED LEARNING IN A WORLD-RENOWNED SCIENTIFIC AND VIBRANT ARTISTIC COMMUNITY, FALMOUTH ACADEMY EMBOLDENS EACH STUDENT TO TAKE CREATIVE AND INTELLECTUAL RISKS TO CONFIDENTLY ENGAGE THE CHALLENGES OF OUR TIMES. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $5,899,876 | ExpenseAmt |
| Grant | $1,603,016 | GrantAmt |
| Revenue | $7,394,837 | RevenueAmt |
| Desc | THE ACADEMY'S PRIMARY MISSION IS THE EDUCATION OF STUDENTS ENROLLED IN GRADES 7 THROUGH 12. DURING THE CURRENT YEAR THE ACADEMY HAD ENROLLED 224 STUDENTS. | Desc |
| Total Program Service Expenses | $5,899,876 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | Yes (1) | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | 0 | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | Yes (1) | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | Yes (1) | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | Yes (1) | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | Yes (1) | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 23 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 76 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 18 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 16 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | Yes (1) | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | MA | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | CARMEN DISANTO | PersonNm |
| Phone | 5084579696 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 7 HIGHFIELD DRIVE | AddressLine1Txt |
| City | FALMOUTH | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02540 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (23 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd |
|---|---|---|---|---|---|---|---|
| MATTHEW GREEN | |||||||
| HEAD OF SCHOOL | 40.00 | Yes (X) | $255,921 | $0 | $37,202 | ||
| CARMEN DISANTO | |||||||
| DIR. OF FINANCE & OPERATIONS | 40.00 | Yes (X) | $120,862 | $0 | $22,729 | ||
| PAMELA HINKLE | |||||||
| DIRECTOR OF DEVELOPMENT | 40.00 | $108,621 | $0 | $10,241 | Yes (X) | ||
| JOHN HEYL | |||||||
| TRUSTEE | 2.00 | $0 | $0 | $0 | Yes (X) | ||
| LAURA RYAN SHACHOY | |||||||
| TRUSTEE | 2.00 | $0 | $0 | $0 | Yes (X) | ||
| SCOTT BROWN | |||||||
| TRUSTEE | 2.00 | $0 | $0 | $0 | Yes (X) | ||
| SHEILA GIANCOLA | |||||||
| TRUSTEE | 2.00 | $0 | $0 | $0 | Yes (X) | ||
| MINDY TODD | |||||||
| TRUSTEE | 2.00 | $0 | $0 | $0 | Yes (X) | ||
| ANDREW BOWEN | |||||||
| TRUSTEE | 2.00 | $0 | $0 | $0 | Yes (X) | ||
| ROBERT MUNIER | |||||||
| TRUSTEE | 2.00 | $0 | $0 | $0 | Yes (X) | ||
| ANDREW KINGMAN | |||||||
| TRUSTEE | 2.00 | $0 | $0 | $0 | Yes (X) | ||
| NICHOLAS LOWELL | |||||||
| TRUSTEE | 2.00 | $0 | $0 | $0 | Yes (X) | ||
| BETH COLT | |||||||
| TRUSTEE | 2.00 | $0 | $0 | $0 | Yes (X) | ||
| MEGAN ENGLISH BRAGA | |||||||
| TRUSTEE | 2.00 | $0 | $0 | $0 | Yes (X) | ||
| MEGAN STARR | |||||||
| TRUSTEE A/O 09/2020 | 2.00 | $0 | $0 | $0 | Yes (X) | ||
| LUKE MCCABE | |||||||
| TRUSTEE A/O 05/2021 | 2.00 | $0 | $0 | $0 | Yes (X) | ||
| RICHARD HEYWOOD | |||||||
| TRUSTEE A/O 05/2021 | 2.00 | $0 | $0 | $0 | Yes (X) | ||
| JOAN O HOLDEN | |||||||
| TRUSTEE/SECRETARY A/O 06/2021 | 2.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| HENRIK GULMANN | |||||||
| TRUSTEE/TREASURER A/O 06/2021 | 2.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| ANN EGAN | |||||||
| TRUSTEE/VICE PRESIDENT | 2.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| JOSEPH VALLE | |||||||
| TRUSTEE/BOARD CHAIR | 2.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| COLLEEN C JOHNS | |||||||
| TRUSTEE/SECRETARY THRU 05/2021 | 2.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| CYNTHIA FELDMANN | |||||||
| TRUSTEE/TREASURER THRU 05/2021 | 2.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $485,404 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $70,172 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 3 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp
Contractor Name ContractorName
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LUCINI BUS LINES | BusinessNameLine1Txt |
Contractor Address ContractorAddress
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 900 ELM STREET | AddressLine1Txt |
| City | BRIDGEWATER | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02324 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Services | BUS COMPANY | ServicesDesc |
| Compensation | $121,210 | CompensationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 1 | CntrctRcvdGreaterThan100KCnt |
| Fundraising | $109,517 | FundraisingAmt |
| Government Grants | $579,100 | GovernmentGrantsAmt |
| All Other Contributions | $691,741 | AllOtherContributionsAmt |
| Noncash Contributions | $103,454 | NoncashContributionsAmt |
| Total Contributions | $1,380,358 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| TUITION AND FEES | 611600 | $7,256,347 | $7,256,347 |
| AUXILIARY INCOME | 611600 | $132,024 | $132,024 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $7,388,371 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $5,724 | TotalRevenueColumnAmt |
| Exclusion | $5,724 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $475 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $475 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $475 | TotalRevenueColumnAmt |
| Exclusion | $475 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $331,845 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $171,775 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $160,070 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $160,070 | TotalRevenueColumnAmt |
| Exclusion | $160,070 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fundraising Gross Income | $34,570 | FundraisingGrossIncomeAmt |
| Contri Rpt Fundraising Event | $109,517 | ContriRptFundraisingEventAmt |
| Fundraising Direct Expenses | $77,313 | FundraisingDirectExpensesAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$42,743 | TotalRevenueColumnAmt |
| Exclusion | -$42,743 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MISCELLANEOUS INCOME | Desc |
| Business | 611600 | BusinessCd |
| Total Revenue Column | $6,466 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $6,466 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $6,466 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $8,898,721 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $7,394,837 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $123,526 | ExclusionAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,603,016 | TotalAmt |
| Program Services | $1,603,016 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $412,910 | TotalAmt |
| Management And General | $360,874 | ManagementAndGeneralAmt |
| Fundraising | $52,036 | FundraisingAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,141,974 | TotalAmt |
| Program Services | $2,089,979 | ProgramServicesAmt |
| Management And General | $878,321 | ManagementAndGeneralAmt |
| Fundraising | $173,674 | FundraisingAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $227,775 | TotalAmt |
| Program Services | $156,126 | ProgramServicesAmt |
| Management And General | $59,754 | ManagementAndGeneralAmt |
| Fundraising | $11,895 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $748,252 | TotalAmt |
| Program Services | $466,737 | ProgramServicesAmt |
| Management And General | $236,574 | ManagementAndGeneralAmt |
| Fundraising | $44,941 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $248,319 | TotalAmt |
| Program Services | $148,679 | ProgramServicesAmt |
| Management And General | $84,155 | ManagementAndGeneralAmt |
| Fundraising | $15,485 | FundraisingAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,199 | TotalAmt |
| Management And General | $5,199 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $24,800 | TotalAmt |
| Management And General | $24,800 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $26,974 | TotalAmt |
| Management And General | $26,974 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $13,700 | TotalAmt |
| Management And General | $13,700 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $37,963 | TotalAmt |
| Program Services | $37,963 | ProgramServicesAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $109,943 | TotalAmt |
| Program Services | $61,816 | ProgramServicesAmt |
| Management And General | $19,304 | ManagementAndGeneralAmt |
| Fundraising | $28,823 | FundraisingAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $44,117 | TotalAmt |
| Management And General | $44,117 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $69,468 | TotalAmt |
| Program Services | $69,468 | ProgramServicesAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $274,870 | TotalAmt |
| Program Services | $274,870 | ProgramServicesAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,000 | TotalAmt |
| Program Services | $4,000 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $517,028 | TotalAmt |
| Program Services | $491,177 | ProgramServicesAmt |
| Management And General | $20,681 | ManagementAndGeneralAmt |
| Fundraising | $5,170 | FundraisingAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $134,502 | TotalAmt |
| Program Services | $127,777 | ProgramServicesAmt |
| Management And General | $5,380 | ManagementAndGeneralAmt |
| Fundraising | $1,345 | FundraisingAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt | FundraisingFundraisingAmt |
|---|---|---|---|---|
| REPAIRS AND MAINTENANCE | $169,673 | $161,189 | $6,787 | $1,697 |
| COVID EXPENSES | $79,588 | $51,732 | $27,856 | |
| DEPARTMENTAL EXPENSES | $75,631 | $75,631 | ||
| INSTRUCTION EXPENSE | $40,979 | $40,979 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $143,327 | TotalAmt |
| Program Services | $38,737 | ProgramServicesAmt |
| Management And General | $102,931 | ManagementAndGeneralAmt |
| Fundraising | $1,659 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,154,008 | TotalAmt |
| Program Services | $5,899,876 | ProgramServicesAmt |
| Management And General | $1,917,407 | ManagementAndGeneralAmt |
| Fundraising | $336,725 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $994,073 | BOYAmt |
| EOY | $521,643 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,880,507 | BOYAmt |
| EOY | $2,669,203 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $26,250 | BOYAmt |
| EOY | $4,250 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,056 | BOYAmt |
| EOY | $27,445 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $53,610 | BOYAmt |
| EOY | $99,248 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $17,639,009 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $6,407,919 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,935,451 | BOYAmt |
| EOY | $11,231,090 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,085,861 | BOYAmt |
| EOY | $9,460,902 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,996,808 | BOYAmt |
| EOY | $24,013,781 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $558,709 | BOYAmt |
| EOY | $706,384 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,379,851 | BOYAmt |
| EOY | $971,021 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,938,560 | BOYAmt |
| EOY | $1,677,405 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $15,668,724 | BOYAmt |
| EOY | $17,054,018 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,389,524 | BOYAmt |
| EOY | $5,282,358 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $20,058,248 | BOYAmt |
| EOY | $22,336,376 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,996,808 | BOYAmt |
| EOY | $24,013,781 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $744,713 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $1,533,415 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School | Yes (X) | SchoolInd |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
CY Endwmt Fund CYEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $8,085,815 | BeginningYearBalanceAmt |
| Contributions | $40,040 | ContributionsAmt |
| Investment Earnings Or Losses | $1,666,846 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $331,799 | OtherExpendituresAmt |
| End Year Balance | $9,460,902 | EndYearBalanceAmt |
CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $8,342,337 | BeginningYearBalanceAmt |
| Contributions | $19,343 | ContributionsAmt |
| Investment Earnings Or Losses | $161,768 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $437,633 | OtherExpendituresAmt |
| End Year Balance | $8,085,815 | EndYearBalanceAmt |
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $7,913,107 | BeginningYearBalanceAmt |
| Contributions | $105,208 | ContributionsAmt |
| Investment Earnings Or Losses | $554,176 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $230,154 | OtherExpendituresAmt |
| End Year Balance | $8,342,337 | EndYearBalanceAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $7,557,014 | BeginningYearBalanceAmt |
| Contributions | $107,132 | ContributionsAmt |
| Investment Earnings Or Losses | $564,956 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $315,995 | OtherExpendituresAmt |
| End Year Balance | $7,913,107 | EndYearBalanceAmt |
CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $6,650,774 | BeginningYearBalanceAmt |
| Contributions | $329,185 | ContributionsAmt |
| Investment Earnings Or Losses | $781,108 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $204,053 | OtherExpendituresAmt |
| End Year Balance | $7,557,014 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated Balance EOY | 0.45329 | BoardDesignatedBalanceEOYPct |
| Prmnnt Endowment Balance EOY | 0.31592 | PrmnntEndowmentBalanceEOYPct |
| Term Endowment Balance EOY | 0.23079 | TermEndowmentBalanceEOYPct |
| Endowments Held Unrelated Org | 0 | EndowmentsHeldUnrelatedOrgInd |
| Endowments Held Related Org | 0 | EndowmentsHeldRelatedOrgInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $250,600 | OtherCostOrOtherBasisAmt |
| Book Value | $250,600 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $14,628,593 | OtherCostOrOtherBasisAmt |
| Depreciation | $4,920,981 | DepreciationAmt |
| Book Value | $9,707,612 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $939,528 | OtherCostOrOtherBasisAmt |
| Depreciation | $581,197 | DepreciationAmt |
| Book Value | $358,331 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,361,781 | OtherCostOrOtherBasisAmt |
| Depreciation | $624,423 | DepreciationAmt |
| Book Value | $737,358 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $458,507 | OtherCostOrOtherBasisAmt |
| Depreciation | $281,318 | DepreciationAmt |
| Book Value | $177,189 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $11,231,090 | TotalBookValueLandBuildingsAmt |
| Total Rev Etc Audited Fincl Stmt | $8,802,146 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $1,533,415 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | $1,533,415 | RevenueNotReportedAmt |
| Revenue Subtotal | $7,268,731 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $26,974 | InvestmentExpensesNotIncldAmt |
| Other Revenues Not Included | $1,603,016 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $1,629,990 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $8,898,721 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $6,524,018 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $6,524,018 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $26,974 | InvestmentExpensesNotIncld2Amt |
| Other Expenses Not Included | $1,603,016 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $1,629,990 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $8,154,008 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART V, LINE 4: | THE ACADEMY'S ENDOWMENT CONSISTS OF APPROXIMATELY 5 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. ITS ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD TO FUNCTION AS ENDOWMENT. AS REQUIRED BY US GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD TO FUNCTION AS ENDOWMENT ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. THE ACADEMY HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A REASONABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. THE ENDOWMENT ASSETS ARE INVESTED WITH AN OBJECTIVE OF PRESERVING THE LONG-TERM, REAL PURCHASING POWER OF THE ASSETS WHILE PROVIDING A RELATIVELY PREDICTABLE AND GROWING STREAM OF ANNUAL DISTRIBUTION IN SUPPORT OF THE INSTITUTION. THE ENDOWMENT IS INVESTED IN A BALANCED PORTFOLIO OF EQUITIES AND FIXED INCOME INVESTMENTS. THE ACADEMY HAS A POLICY OF APPROPRIATING FOR DISTRIBUTION, AN AMOUNT THAT CONSIDERS THE DISTRIBUTION IN RELATION TO THE TOTAL PERCENTAGE OF THE ENDOWMENT, AS WELL AS THE LONG-TERM EXPECTED RETURN ON ITS ENDOWMENT. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | SCHOLARSHIP AID 1,603,016. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | SCHOLARSHIP AID 1,603,016. |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | Yes (1) | NondiscriminatoryPolicyStmtInd |
| Policy Stmt In Brochures Etc | Yes (1) | PolicyStmtInBrochuresEtcInd |
| Plcy Pblczd Via Broadcast Media | Yes (1) | PlcyPblczdViaBroadcastMediaInd |
| Maintain Racial Comp Recs | Yes (1) | MaintainRacialCompRecsInd |
| Maintain Scholarships Recs | Yes (1) | MaintainScholarshipsRecsInd |
| Maintain Cpy Of Brochures Etc | Yes (1) | MaintainCpyOfBrochuresEtcInd |
| Maintain Cpy Of All Sol | Yes (1) | MaintainCpyOfAllSolInd |
| Discriminate Race Stdnts Rghts | 0 | DiscriminateRaceStdntsRghtsInd |
| Discriminate Race Admiss Plcy | 0 | DiscriminateRaceAdmissPlcyInd |
| Discriminate Race Emplm Fculty | 0 | DiscriminateRaceEmplmFcultyInd |
| Discriminate Race Schs | 0 | DiscriminateRaceSchsInd |
| Discriminate Race Educ Plcy | 0 | DiscriminateRaceEducPlcyInd |
| Discriminate Race Use Of Fclts | 0 | DiscriminateRaceUseOfFcltsInd |
| Discriminate Race Athlt Prog | 0 | DiscriminateRaceAthltProgInd |
| Discriminate Race Other Acty | 0 | DiscriminateRaceOtherActyInd |
| Government Financial Aid Rcvd | Yes (1) | GovernmentFinancialAidRcvdInd |
| Government Financial Aid Rvkd | 0 | GovernmentFinancialAidRvkdInd |
| Compliance With Rev Proc7550 | Yes (1) | ComplianceWithRevProc7550Ind |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE E, PART I, LINE 3 | THE NONDISCRIMINATION POLICY IS POSTED ON FALMOUTH ACADEMY'S WEBSITE HOMEPAGE. |
| SCHEDULE E, PART I, LINE 6 | DURING FISCAL YEAR ENDED JUNE 30, 2020 THE SCHOOL RECEIVED A PAYCHECK PROTECTION PLAN LOAN FORGIVENESS GRANTED BY THE U.S. DEPARTMENT OF TREASURY THROUGH THE SMALL BUSINESS ADMINISTRATION UNDER THE CORONAVIRUS AID, RELIEF AND ECONOMIC SECURITY ACT (CARES ACT). THE LOAN WAS FORGIVEN DURING FISCAL YEAR 2021. |
Schedule G IRS990ScheduleG
Fundraising Event Information FundraisingEventInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Event1 | ANNUAL AUCTION | Event1Nm |
| Gross Receipts Event1 | $144,087 | GrossReceiptsEvent1Amt |
| Charitable Contri Event1 | $109,517 | CharitableContriEvent1Amt |
| Gross Revenue Event1 | $34,570 | GrossRevenueEvent1Amt |
| Other Direct Expenses Event1 | $77,313 | OtherDirectExpensesEvent1Amt |
| Gross Receipts Total | $144,087 | GrossReceiptsTotalAmt |
| Charitable Contributions Tot | $109,517 | CharitableContributionsTotAmt |
| Gross Revenue Total Events | $34,570 | GrossRevenueTotalEventsAmt |
| Oth Direct Expnss Total Events | $77,313 | OthDirectExpnssTotalEventsAmt |
| Direct Expense Summary Events | $77,313 | DirectExpenseSummaryEventsAmt |
| Net Income Summary | -$42,743 | NetIncomeSummaryAmt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | FINANCIAL AID | GrantTypeTxt |
| Recipient | 119 | RecipientCnt |
| Cash Grant | $1,603,016 | CashGrantAmt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 2: | FINANCIAL AID GRANTS ARE APPLIED TO EACH INDIVIDUAL STUDENT'S ACCOUNT AS A REDUCTION IN THE TUITION BALANCE. ONCE THE PARENT/GUARDIAN ACCEPTS THE GRANT, THE WRITTEN DOCUMENT IS SIGNED BY THE PARENT/GUARDIAN AND THE SCHOOL. THE FIRST HALF OF THE FINANCIAL AID IS GIVEN TO THE STUDENT IN AUGUST AND THE SECOND HALF IS GIVEN IN DECEMBER. THE AMOUNT THE STUDENT HAS ACCEPTED IS TRACKED THROUGHOUT THE YEAR. FALMOUTH ACADEMY OFFERS THREE PAYMENT PLANS: PAYMENT IN FULL, TWO PAYMENTS IN JULY AND DECEMBER, OR MONTHLY JULY-APRIL. FINANCIAL AID IS SPREAD ACROSS THE PAYMENT PLAN ACCORDINGLY. |
| FORM 990, SCHEDULE I, PART III, LINE A | FINANCIAL AID IS DETERMINED BY THE FAMILY'S NEED. FALMOUTH ACADEMY USES SCHOOL AND STUDENT SERVICES BY THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS (SSS BY NAIS) AS A BENCHMARK. THE FAMILY FILLS OUT A PERSONAL FINANCIAL STATEMENT AND UPLOADS TAX INFORMATION WITH THEIR APPLICATION THROUGH SSS BY NAIS. A COMMITTEE CONSISTING OF ADMISSIONS, THE BUSINESS MANAGER, HEAD OF SCHOOL AND FACULTY MEMBERS REVIEW THE APPLICATIONS AND OFFER ASSISTANCE BASED ON NEED. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Housing Allowance Or Residence | Yes (X) | HousingAllowanceOrResidenceInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | Yes (1) | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | MATTHEW GREEN | PersonNm |
| Title | HEAD OF SCHOOL | TitleTxt |
| Base Compensation Filing Org | $205,921 | BaseCompensationFilingOrgAmt |
| Compensation Based On Rltd Orgs | $0 | CompensationBasedOnRltdOrgsAmt |
| Bonus Filing Organization | $20,000 | BonusFilingOrganizationAmount |
| Bonus Related Organizations | $0 | BonusRelatedOrganizationsAmt |
| Other Compensation Filing Org | $30,000 | OtherCompensationFilingOrgAmt |
| Other Compensation Rltd Orgs | $0 | OtherCompensationRltdOrgsAmt |
| Deferred Compensation Flng Org | $19,558 | DeferredCompensationFlngOrgAmt |
| Deferred Comp Rltd Orgs | $0 | DeferredCompRltdOrgsAmt |
| Nontaxable Benefits Filing Org | $17,644 | NontaxableBenefitsFilingOrgAmt |
| Nontaxable Benefits Rltd Orgs | $0 | NontaxableBenefitsRltdOrgsAmt |
| Total Compensation Filing Org | $293,123 | TotalCompensationFilingOrgAmt |
| Total Compensation Rltd Orgs | $0 | TotalCompensationRltdOrgsAmt |
| Comp Report Prior990 Filing Org | $0 | CompReportPrior990FilingOrgAmt |
| Comp Report Prior990 Rltd Orgs | $0 | CompReportPrior990RltdOrgsAmt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 1A | THE HEAD OF SCHOOL RECEIVES A HOUSING ALLOWANCE. THE HOUSING ALLOWANCE IS INCLUDED IN HIS FORM W-2. |
| PART I, LINE 7 | THE HEAD OF SCHOOL RECEIVED A BONUS WHICH WAS DETERMINED BY THE BOARD OF TRUSTEES. THE DIRECTOR OF FINANCE AND OPERATIONS RECEIVED A BONUS WHICH WAS DETERMINED BY THE HEAD OF SCHOOL. |
Schedule L IRS990ScheduleL
Grnt Asst Bnft Interested Prsn GrntAsstBnftInterestedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cash Grant | $28,535 | CashGrantAmt |
| Type Of Assistance | FINANCIAL AID | TypeOfAssistanceTxt |
| Assistance Purpose | EDUCATION | AssistancePurposeTxt |
Schedule M IRS990ScheduleM
Securities Publicly Traded SecuritiesPubliclyTradedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 6 | ContributionCnt |
| Noncash Contributions Rpt F990 | $32,307 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | FMV AT DONATION | MethodOfDeterminingRevenuesTxt |
Other Non Cash Contri Table OtherNonCashContriTableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Desc | AUCTION ITEMS | Desc |
| Contribution | 197 | ContributionCnt |
| Noncash Contributions Rpt F990 | $71,147 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | FMV AT DONATION | MethodOfDeterminingRevenuesTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeldInd |
| Review Process Unusual NC Gifts | Yes (1) | ReviewProcessUnusualNCGiftsInd |
| Third Parties Used | 0 | ThirdPartiesUsedInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, COLUMN (B): | FormAndLineReferenceDesc |
| Explanation | THE NUMBER OF CONTRIBUTIONS FOR "AUCTION ITEMS" REPRESENTS THE NUMBER OF ITEMS DONATED. THE NUMBER OF CONTRIBUTIONS FOR SECURITIES-PUBLICLY TRADED REPRESENTS THE NUMBER OF INDIVIDUALS WHO DONATED SECURITIES. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (5 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 4 | THE BY-LAWS WERE UPDATED TO REFLECT THE FOLLOWING CHANGES: -INCREASE THE MAXIMUM NUMBER OF TRUSTEES FROM 21 TO 25 -THE INVESTMENT COMMITTEE WAS ADDED AS A STANDING COMMITTEE -CLARIFY PRACTICE THAT THE EXECUTIVE COMMITTEE ACTS ON BEHALF OF THE BOARD IN BETWEEN MEETINGS AND REPORTS ANY ACTIONS TO THE BOARD THAT IT HAS TAKEN ON IMMINENT OR EMERGENT MATTERS, AND AMENDED LANGUAGE PER RECOMMENDATION OF OUTSIDE COUNSEL REGARDING INDEMNIFICATION OF TRUSTEES AND OFFICERS -INDEMNIFICATION UPON BOARD REVIEW OF THE MATTER AND A MAJORITY VOTE THAT THE TRUSTEE WAS DETERMINED TO BE ACTING IN GOOD FAITH IN THE REASONABLE BELIEF THAT THEIR ACTION WAS IN THE BEST INTERESTS OF THE SCHOOL. CURRENT LANGUAGE EXCLUDES INDEMNIFICATION FOR A TRUSTEE WHERE THAT TRUSTEE HAS BEEN FULLY ADJUDICATED TO HAVE NOT ACTED IN GOOD FAITH -THE MISSION STATEMENT WAS INCORPORATED INTO THE BYLAWS |
| FORM 990, PART VI, SECTION B, LINE 11B | ONCE THE FORM 990 IS PREPARED, IT IS SCHEDULED FOR DISCUSSION AT THE NEXT FINANCE COMMITTEE MEETING. THE FINANCE COMMITTEE WILL REVIEW AND APPROVE THE RETURN FOR FILING. COPIES OF THE FORM 990 WILL THEN BE PROVIDED TO THE TRUSTEES FOR APPROVAL BEFORE FILING. THE FORM 990 IS THEN SIGNED BY THE AUTHORIZED INDIVIDUAL. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE SCHOOL'S CONFLICT OF INTEREST POLICY APPLIES TO ALL TRUSTEES OF THE BOARD, OFFICERS AND KEY EMPLOYEES. EACH INDIVIDUAL MUST DISCLOSE ANNUALLY ANY POTENTIAL CONFLICTS. THE COMMITTEE OF TRUSTEES REVIEWS EACH PROPOSED TRANSACTION THAT MIGHT GIVE RISE TO A CONFLICT. IF A CONFLICT IS DETERMINED TO EXIST, THE INDIVIDUAL WILL DISCLOSE ALL MATERIAL FACTS AT THE BOARD MEETING AND THEN LEAVE THE MEETING WHILE THE CONFLICT IS DISCUSSED AND VOTED UPON. |
| FORM 990, PART VI, SECTION B, LINE 15A | THE BOARD OF TRUSTEES MEETS ON AN ANNUAL BASIS TO EVALUATE THE HEAD OF SCHOOL'S PERFORMANCE. THE BOARD CHAIR, FINANCE CHAIR AND EXECUTIVE COMMITTEE NEGOTIATE THE COMPENSATION FOR THE HEAD OF SCHOOL AND AN ATTORNEY REVIEWS THE AGREEMENT TO MAKE SURE THE CONTRACT DOES NOT VIOLATE ANY LAWS. THE DELIBERATION AND DECISIONS ARE DOCUMENTED. THIS PROCESS WAS LAST FOLLOWED IN JUNE 2021 TO SET THE COMPENSATION FOR THE HEAD OF SCHOOL. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. |
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