Erskine Academy
- Assets
- $14.1m
- Revenue
- $8.9m
- Investments
- $0.0
- Employees
- 129
- Location
- South China, ME
- Founding
- 03/1975
- Data as of
- 06/2022
- EIN
- 01-0245261
Organization Overview
Erskine Academy is located in South China, ME. The organization was established in 1975. 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, Erskine Academy employed 129 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Erskine 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, Erskine Academy generated $8.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $8.0m during the year ending 06/2022. While expenses have increased by 1.6% 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
ORGANIZATION PROVIDES A QUALITY EDUCATION TO STUDENTS WHICH ENABLES THEM TO ACHIEVE THEIR POTENTIAL AND REALIZE THEIR GOALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ERSKINE ACADEMY IS A PRIVATE NON PROFIT HIGH SCHOOL FOR GRADES 9-12. APPROXIMATELY 531 STUDENTS ATTENDED THE SCHOOL DURING THE 2020-2021 SCHOOL YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Mcquarrie Headmaster | Officer | 48 | $200,896 |
Todd Cummings Board Member | OfficerTrustee | 1 | $0 |
Brenda Drummond Co-Vice President | OfficerTrustee | 1 | $0 |
Matthew Clark Secretary | OfficerTrustee | 1 | $0 |
Danielle Blanchard Board Member | OfficerTrustee | 1 | $0 |
Regan Tyler Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $863,910 |
| All other contributions, gifts, grants, and similar amounts not included above | $22,800 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $886,710 |
| Total Program Service Revenue | $7,483,010 |
| Investment income | $156,268 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $306,880 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,919,635 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $22,130 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $200,896 |
| Compensation of current officers, directors, key employees. | $60,269 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,257,560 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,055,765 |
| Payroll taxes | $128,182 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $874 |
| Fees for services: Accounting | $17,875 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $40,621 |
| Fees for services: Other | $0 |
| Advertising and promotion | $637 |
| Office expenses | $10,933 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $12,340 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $345,967 |
| Insurance | $106,326 |
| All other expenses | $431,570 |
| Total functional expenses | $8,005,301 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,818,455 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $34,130 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,131 |
| Prepaid expenses and deferred charges | $3,411 |
| Net Land, buildings, and equipment | $3,871,119 |
| Investments—publicly traded securities | $7,294,024 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $27,080 |
| Total assets | $14,051,350 |
| Accounts payable and accrued expenses | $56,600 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $371,074 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $829,962 |
| Total liabilities | $1,257,636 |
| Net assets without donor restrictions | $12,009,587 |
| Net assets with donor restrictions | $784,127 |
| 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 | $14,051,350 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Erskine Academy has recieved totaling $10,342.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $7,805 |
Melmac Education Foundation Augusta, ME PURPOSE: TGM SCHOLARSHIP | $2,000 |
New York Life Foundation New York, NY PURPOSE: EDUC. GENERAL | $500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $37 |
Endowment Analysis
| Beg. Balance | $922,548 |
| Earnings | -$116,335 |
| Admin Expense | -$7,036 |
| Net Contributions | $3,110 |
| Grants | -$18,150 |
| Ending Balance | $784,127 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Derryfield School Manchester, NH | $44,949,554 | $20,323,202 |
Tilton School Tilton, NH | $51,782,047 | $28,426,192 |
Gould Academy Bethel, ME | $51,802,466 | $16,747,864 |
Kents Hill School Kents Hill, ME | $53,732,644 | $12,333,982 |
The Trustees Of Fryeburg Academy Fryeburg, ME | $79,323,577 | $20,722,502 |
Coe-Brown Northwood Academy Northwood, NH | $14,207,279 | $13,826,653 |
North Yarmouth Academy Yarmouth, ME | $20,098,579 | $17,214,127 |
Dublin School Inc Dublin, NH | $31,365,781 | $17,498,470 |
Lincoln Academy New Castle, ME | $30,176,614 | $16,577,404 |
The White Mountain School Bethlehem, NH | $18,684,439 | $10,223,577 |
Maine Central Institute Pittsfield, ME | $27,592,245 | $10,693,279 |
Hyde School Bath, ME | $46,617,199 | $8,609,134 |