Vermont Academy
- Assets
- $24.0m
- Revenue
- $10.1m
- Investments
- $0.0
- Employees
- 112
- Location
- Saxtons River, VT
- Founding
- 12/1944
- Data as of
- 06/2022
- EIN
- 03-0179600
Organization Overview
Vermont Academy is located in Saxtons River, VT. The organization was established in 1944. 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, Vermont Academy employed 112 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vermont 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, Vermont Academy generated $10.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (5.4%) each year. All expenses for the organization totaled $15.1m during the year ending 06/2022. 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
WE ARE DEVOTED TO CREATING CONFIDENT AND INDEPENDENT LEARNERS THROUGH PERSONAL ATTENTION IN A UNIQUE VERMONT ENVIRONMENT. WE BELIEVE IN OUR STUDENTS AND IN THEIR CAPACITY TO LEARN AND DEVELOP INTO RESPONSIBLE, SELF-DISCIPLINED ADULTS. OUR FACULTY AND STAFF ARE COMMITTED TO HELPING STUDENTS DISCOVER THEIR INDIVIDUAL TALENTS AND DEVELOP THE CHARACTER, STRENGTH, AND SKILLS TO MEET THE CHALLENGES IN THEIR LIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VERMONT ACADEMY IS A PRIVATE BOARDING AND DAY SCHOOL PROVIDING A BROAD CURRICULUM AND AN EXTENSIVE ATHLETIC PROGRAM. PROGRAMS OF NOTE ARE FOUND IN THE CENTER FOR LEARNING, THE ARTS, AND IN OUR SCIENCE AND ENGINEERING CURRICULUM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Micheal Choukas Trustee | Trustee | 1 | $0 |
Amy Howard Secretary | OfficerTrustee | 1 | $0 |
Matt Galanes Treasurer | OfficerTrustee | 1 | $0 |
Chris Cota Chair | OfficerTrustee | 1 | $0 |
David Holton Trustee | Trustee | 1 | $0 |
William Hosley Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sage Dining Services Inc Dining Services | 6/29/22 | $857,942 |
Marts & Lundy Advancement Consulting Services | 6/29/22 | $219,024 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,704,618 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,704,618 |
| Total Program Service Revenue | $8,410,902 |
| Investment income | $61,303 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $4,268 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$73,689 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,107,402 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $5,563,553 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $271,954 |
| Compensation of current officers, directors, key employees. | $271,954 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,715,035 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,136,538 |
| Payroll taxes | $964,588 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $31,923 |
| Fees for services: Accounting | $24,729 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $244,619 |
| Advertising and promotion | $97,586 |
| Office expenses | $110,665 |
| Information technology | $75,693 |
| Royalties | $0 |
| Occupancy | $543,540 |
| Travel | $150,431 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $58,707 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $645,571 |
| Insurance | $250,150 |
| All other expenses | $99,621 |
| Total functional expenses | $15,080,382 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $133,231 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $140,718 |
| Accounts receivable, net | $353,883 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $112,770 |
| Prepaid expenses and deferred charges | $483,309 |
| Net Land, buildings, and equipment | $9,035,782 |
| Investments—publicly traded securities | $11,017,906 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,741,634 |
| Total assets | $24,019,233 |
| Accounts payable and accrued expenses | $1,207,165 |
| Grants payable | $0 |
| Deferred revenue | $18,292 |
| 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 | $2,188,670 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,656,496 |
| Total liabilities | $5,070,623 |
| Net assets without donor restrictions | $1,544,612 |
| Net assets with donor restrictions | $17,403,998 |
| 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 | $24,019,233 |