Friends Academy Inc
- Assets
- $16.3m
- Revenue
- $8.8m
- Investments
- $3.7m
- Employees
- 102
- Location
- North Dartmouth, MA
- Founding
- 03/1935
- Data as of
- 06/2022
- EIN
- 04-2104242
Organization Overview
Friends Academy Inc is located in North Dartmouth, MA. The organization was established in 1935. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Friends Academy Inc employed 102 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Academy Inc 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, Friends Academy Inc generated $8.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $8.0m during the year ending 06/2022. While expenses have increased by 0.8% 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
THE TRUSTEES OF FRIENDS' ACADEMY IS A CO-EDUCATIONAL, INDEPENDENT DAY SCHOOL SERVING STUDENTS IN PRESCHOOL THROUGH GRADE EIGHT. THE MISSION OF FRIENDS ACADEMY IS TO PROVIDE EACH STUDENT WITH AN EDUCATIONAL FOUNDATION THAT WILL INSTILL THE ACADEMIC KNOWLEDGE AND SKILLS, RESPONSIBLE CITIZENSHIP, RESPECT FOR DIVERSITY AND DIFFERENCES, AND A SENSE OF WELL-BEING NEEDED FOR A LIFETIME OF LEARNING AND PERSONAL GROWTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE EDUCATION TO 232 STUDENTS ATTENDING EARLY CHILDHOOD THROUGH EIGHTH GRADE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Benjamin Kennedy Head Of School | Officer | 40 | $216,701 |
Jamie Ross-Cory Head Of Lower School | 40 | $110,751 | |
Mark Holman Director Of Finance & Operations | Officer | 40 | $78,557 |
Umesh Kc Trustee | Trustee | 1 | $0 |
Alice Root Trustee | Trustee | 1 | $0 |
Chad Powers Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $746,367 |
| All other contributions, gifts, grants, and similar amounts not included above | $598,176 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,344,543 |
| Total Program Service Revenue | $7,124,664 |
| Investment income | $252,610 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $6,300 |
| Net Gain/Loss on Asset Sales | -$27 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$934 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,842,219 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,881,325 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $438,391 |
| Compensation of current officers, directors, key employees. | $179,891 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,318,247 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $482,956 |
| Payroll taxes | $275,964 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $17,020 |
| Fees for services: Accounting | $143,727 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $15,685 |
| Fees for services: Other | $72,750 |
| Advertising and promotion | $4,257 |
| Office expenses | $227,029 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $293,669 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $27,833 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $384,583 |
| Insurance | $55,461 |
| All other expenses | $46,872 |
| Total functional expenses | $7,977,789 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,702,837 |
| Savings and temporary cash investments | $1,158,901 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,059,272 |
| 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 | $214,594 |
| Net Land, buildings, and equipment | $5,530,251 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,672,363 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $16,338,218 |
| Accounts payable and accrued expenses | $362,707 |
| Grants payable | $0 |
| Deferred revenue | $4,992,357 |
| 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 | $748,725 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,217 |
| Total liabilities | $6,107,006 |
| Net assets without donor restrictions | $7,035,719 |
| Net assets with donor restrictions | $3,195,493 |
| 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 | $16,338,218 |