Carrabassett Valley Academy
- Assets
- $12.4m
- Revenue
- $6.6m
- Investments
- $0.0
- Employees
- 158
- Location
- Carrabassett Valley, ME
- Founding
- 06/1983
- Data as of
- 06/2022
- EIN
- 01-0384633
Organization Overview
Carrabassett Valley Academy is located in Carrabassett Valley, ME. The organization was established in 1983. 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, Carrabassett Valley Academy employed 158 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carrabassett Valley 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, Carrabassett Valley Academy generated $6.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $5.4m during the year ending 06/2022. While expenses have increased by 2.0% 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
COLLEGE PREPARATORY EDUCATION AND ATHLETIC TRAINING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION: THE ACADEMY PROVIDES SECONDARY EDUCATION FOR APPROXIMATELY 90 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kate Punderson Head Of School | OfficerTrustee | 40 | $147,884 |
Steve Sitz Past Director Of Finance | Officer | 40 | $62,555 |
Alex Godomsky Director Of Finance | Officer | 40 | $45,192 |
Lindy Gruen Board Chair | OfficerTrustee | 1 | $0 |
Sean Dundon Vice Chair | OfficerTrustee | 1 | $0 |
Peter Smith Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $380,124 |
| All other contributions, gifts, grants, and similar amounts not included above | $922,561 |
| Noncash contributions included in lines 1a–1f | $63,191 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,302,685 |
| Total Program Service Revenue | $5,163,795 |
| Investment income | $34,288 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $665 |
| Net Income from Fundraising Events | $120,098 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,621,531 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,218 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $265,355 |
| Compensation of current officers, directors, key employees. | $265,355 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,391,469 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $282,863 |
| Payroll taxes | $189,493 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,435 |
| Fees for services: Accounting | $22,410 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,919 |
| Fees for services: Other | $33,865 |
| Advertising and promotion | $32,183 |
| Office expenses | $108,910 |
| Information technology | $51,177 |
| Royalties | $0 |
| Occupancy | $374,506 |
| Travel | $636,801 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,192 |
| Interest | $21,636 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $306,326 |
| Insurance | $147,607 |
| All other expenses | $0 |
| Total functional expenses | $5,396,174 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $732,192 |
| Savings and temporary cash investments | $435,597 |
| Pledges and grants receivable | $270,522 |
| Accounts receivable, net | $289,884 |
| 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 | $81,949 |
| Net Land, buildings, and equipment | $8,878,204 |
| Investments—publicly traded securities | $1,198,472 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $468,758 |
| Total assets | $12,355,578 |
| Accounts payable and accrued expenses | $87,053 |
| Grants payable | $0 |
| Deferred revenue | $1,031,318 |
| 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 | $418,443 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,971 |
| Total liabilities | $1,541,785 |
| Net assets without donor restrictions | $8,871,137 |
| Net assets with donor restrictions | $1,942,656 |
| 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 | $12,355,578 |