Trustees Of Thornton Academy
- Assets
- $56.4m
- Revenue
- $31.1m
- Investments
- $0.0
- Employees
- 263
- Location
- Saco, ME
- Founding
- 10/1951
- Data as of
- 06/2022
- EIN
- 01-0224769
Organization Overview
Trustees Of Thornton Academy is located in Saco, ME. The organization was established in 1951. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 06/2022, Trustees Of Thornton Academy employed 263 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Trustees Of Thornton Academy is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Trustees Of Thornton Academy generated $31.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $30.2m during the year ending 06/2022. While expenses have increased by 3.9% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THORNTON ACADEMY PREPARES STUDENTS FOR A CHANGING WORLD, CHALLENGING ALL TO LEARN, GROW, INNOVATE AND SUCCEED THROUGH A GRADE 6-12 PRIVATE SCHOOL, INCLUDING BOARDING PROGRAM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED GRADE 6-12 PRIVATE SCHOOL EDUCATION. STUDENTS INCLUDE THOSE FROM SENDING MUNICIPALITIES OF SACO, DAYTON AND ARUNDEL, PRIVATE PAY DAY STUDENTS AND INTERNATIONAL BOARDING STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bolduc Angela Trustee | Trustee | 2 | $0 |
Dallaire Brian Trustee | Trustee | 2 | $0 |
Gaines Bernard Trustee | Trustee | 2 | $0 |
Gowen Robert Trustee | Trustee | 2 | $0 |
Howell Nate Trustee | Trustee | 2 | $0 |
Johnson William Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Flik Independent Schools Food Service Provider | 6/29/22 | $1,589,731 |
Williams Scotsman Inc Modular Building Rental | 6/29/22 | $143,961 |
G&e Roofing Co Inc Roofing | 6/29/22 | $129,714 |
Benchmark Cleaning And Supply Cleaning/property Maintenance | 6/29/22 | $403,295 |
Labella Associates Dpc Achitecture | 6/29/22 | $183,699 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $50,452 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $450,210 |
| Noncash contributions included in lines 1a–1f | $38,779 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $500,662 |
| Total Program Service Revenue | $30,119,268 |
| Investment income | $576,081 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $6,240 |
| Net Gain/Loss on Asset Sales | -$177,577 |
| Net Income from Fundraising Events | $31,939 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $31,056,613 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,248,385 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,080,622 |
| Compensation of current officers, directors, key employees. | $45,158 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,838,820 |
| Pension plan accruals and contributions | $608,455 |
| Other employee benefits | $3,190,754 |
| Payroll taxes | $934,259 |
| Fees for services: Management | $3,623 |
| Fees for services: Legal | $75,076 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $116,576 |
| Fees for services: Other | $1,148,361 |
| Advertising and promotion | $54,655 |
| Office expenses | $94,375 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $615,481 |
| Travel | $37,962 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $99,136 |
| Interest | $664,479 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,771,113 |
| Insurance | $535,814 |
| All other expenses | $494,606 |
| Total functional expenses | $30,165,151 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $625 |
| Savings and temporary cash investments | $7,929,036 |
| Pledges and grants receivable | $1,474,914 |
| Accounts receivable, net | $379,306 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $28,232,742 |
| Investments—publicly traded securities | $17,646,809 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $726,225 |
| Total assets | $56,389,657 |
| Accounts payable and accrued expenses | $2,941,618 |
| Grants payable | $0 |
| Deferred revenue | $2,735,501 |
| Tax-exempt bond liabilities | $17,470,109 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $321,381 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $23,468,609 |
| Net assets without donor restrictions | $25,355,759 |
| Net assets with donor restrictions | $7,565,289 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $56,389,657 |