Trustees Of The Lawrence Academy At Groton
- Assets
- $94.8m
- Revenue
- $35.8m
- Investments
- $5.0m
- Employees
- 194
- Location
- Groton, MA
- Founding
- 10/1941
- Data as of
- 06/2024
- EIN
- 04-2105775
Organization Overview
Trustees Of The Lawrence Academy At Groton is located in Groton, MA. The organization was established in 1941. 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 06/2024, Trustees Of The Lawrence Academy At Groton employed 194 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Trustees Of The Lawrence Academy At Groton 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 06/2024, Trustees Of The Lawrence Academy At Groton generated $35.8m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $32.5m during the year ending 06/2024. While expenses have increased by 2.8% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
LAWRENCE ACADEMY'S MISSION ASSERTS THE FOLLOWING IN PROVIDING COLLEGE PREPARATORY EDUCATION FOR BOARDING AND DAY STUDENTS IN GRADES 9-12: "LAWRENCE ACADEMY RECOGNIZES YOU FOR WHO YOU ARE, INSPIRES YOU TO TAKE RESPONSIBILITY FOR WHO YOU WANT TO BECOME, SUPPORTS YOU AS YOU LEARN, AND EMPOWERS YOU TO TAKE ACTION FOR THE GREATER GOOD." THROUGH ITS MISSION AND PROGRAMS, LAWRENCE ACADEMY SEEKS EXCELLENCE AND DISTINCTION THROUGH A "STUDENT-CENTERED" APPROACH TO EDUCATION. THE SCHOOL'S FOCUS BEGINS WITH A CAREFULLY DESIGNED ACADEMIC PROGRAM THAT STRIVES FOR CREATIVE AND INTERDISCIPLINARY APPROACHES TO LEARNING. ARTS AND ATHLETICS ARE ADDITIONAL AVENUES FOR FOSTERING SELF-DISCOVERY, GROWTH, PASSION, AND ACCOMPLISHMENT IN YOUNG PEOPLE. ULTIMATELY THE TOTAL EDUCATION PROGRAM, INCLUDING LIFE ON CAMPUS AND IN THE DORMS, IS DEDICATED TO TRANSFORMING THE LIVES OF YOUNG PEOPLE AND CREATING A COMMUNITY WHERE WELL-BEING, MUTUAL SUPPORT, AND THOUGHTFUL, RESPONSIBLE LIVING ARE FOSTERED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THROUGH ITS MISSION, EACH YEAR LAWRENCE ACADEMY PREPARES MORE THAN ONE HUNDRED GRADUATES FOR SUCCESS IN THEIR NEXT ACADEMIC EXPERIENCES AND IN LIFE. IN THE PROCESS, THE SCHOOL'S ACADEMICS, ARTS, AND ATHLETICS PROGRAMS ALLOW STUDENTS THE OPPORTUNITY TO EXCEL AMONGST PEERS IN THE CONTEXT OF A SUPERB EDUCATIONAL ENVIRONMENT, BOTH WITHIN AND BEYOND SCHOOL. WHILE WE WANT TO SHOW MEASURABLE DEVELOPMENT FOR EACH STUDENT, WE ALSO WANT STUDENTS TO HAVE RICH AND MEANINGFUL EXPERIENCES WITHIN AN INTERDEPENDENT COMMUNITY THAT WILL SHARPEN THEIR APTITUDE AS RESPONSIBLE CITIZENS. ULTIMATELY, WE WANT A LAWRENCE ACADEMY EDUCATION TO TRANSFORM BOTH THE INDIVIDUAL AND SOCIETY. THERE WERE 417 STUDENTS ENROLLED DURING THE 2023/2024 SCHOOL YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brit Dewey Trustee | Trustee | 2 | $0 |
Douglas Long Trustee | Trustee | 2 | $0 |
Peter Myette Trustee | Trustee | 2 | $0 |
Pamela Amusa Trustee | Trustee | 2 | $0 |
Catie Mcmenamin Trustee | Trustee | 2 | $0 |
Richard Tyson Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sodexo Inc & Affiliates Dining Hall Service | 6/29/24 | $1,345,550 |
Flik International Corporation Dining Hall Service | 6/29/24 | $947,303 |
Broadreach School Trip Outfitter | 6/29/24 | $276,544 |
X-pro Cleaning Inc Cleaning Services | 6/29/24 | $657,805 |
Yankee Line Inc Bus Services | 6/29/24 | $232,210 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $17,825 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,405,253 |
| Noncash contributions included in lines 1a–1f | $171,588 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,423,078 |
| Total Program Service Revenue | $27,588,647 |
| Investment income | $1,643,785 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$9,424 |
| Net Gain/Loss on Asset Sales | -$922,444 |
| Net Income from Fundraising Events | -$56,925 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $35,797,254 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $83,000 |
| Grants and other assistance to domestic individuals. | $5,801,146 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,166,834 |
| Compensation of current officers, directors, key employees. | $522,538 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,715,940 |
| Pension plan accruals and contributions | $801,572 |
| Other employee benefits | $1,676,981 |
| Payroll taxes | $820,742 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $78,289 |
| Fees for services: Accounting | $51,069 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $151,862 |
| Fees for services: Other | $206,698 |
| Advertising and promotion | $188,153 |
| Office expenses | $980,240 |
| Information technology | $227,883 |
| Royalties | $0 |
| Occupancy | $3,195,123 |
| Travel | $101,908 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $180,673 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,011,385 |
| Insurance | $314,287 |
| All other expenses | $83,907 |
| Total functional expenses | $32,530,702 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,098,577 |
| Savings and temporary cash investments | $1,156,083 |
| Pledges and grants receivable | $4,553,870 |
| Accounts receivable, net | $28,475 |
| 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 | $710,078 |
| Net Land, buildings, and equipment | $27,914,421 |
| Investments—publicly traded securities | $53,852,348 |
| Investments—other securities | $4,980,563 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $484,352 |
| Total assets | $94,778,767 |
| Accounts payable and accrued expenses | $2,244,082 |
| Grants payable | $0 |
| Deferred revenue | $6,961,622 |
| Tax-exempt bond liabilities | $5,272,149 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $14,477,853 |
| Net assets without donor restrictions | $34,349,831 |
| Net assets with donor restrictions | $45,951,083 |
| 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 | $94,778,767 |