Falmouth Academy Incorporated
- Assets
- $23.1m
- Revenue
- $12.8m
- Investments
- $0.0
- Employees
- 105
- Location
- Falmouth, MA
- Founding
- 01/1978
- Data as of
- 06/2022
- EIN
- 04-2620156
Organization Overview
Falmouth Academy Incorporated is located in Falmouth, MA. The organization was established in 1978. 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, Falmouth Academy Incorporated employed 105 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Falmouth Academy Incorporated 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, Falmouth Academy Incorporated generated $12.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.9% each year. All expenses for the organization totaled $8.0m during the year ending 06/2022. While expenses have increased by 3.1% 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
HARNESSING THE POWER OF INSPIRED LEARNING IN A WORLD-RENOWNED SCIENTIFIC AND VIBRANT ARTISTIC COMMUNITY, FALMOUTH ACADEMY EMBOLDENS EACH STUDENT TO TAKE CREATIVE AND INTELLECTUAL RISKS TO CONFIDENTLY ENGAGE THE CHALLENGES OF OUR TIMES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ACADEMY'S PRIMARY MISSION IS THE EDUCATION OF STUDENTS ENROLLED IN GRADES 7 THROUGH 12. DURING THE CURRENT YEAR THE ACADEMY HAD ENROLLED 202 STUDENTS.
FALMOUTH ACADEMY OFFERS A SUMMER PROGRAM FOR STUDENTS OF ALL AGES AND SKILL LEVELS INVOLVING ACTIVITIES IN THE ARTS, SCIENCE AND ROBOTICS, ATHLETICS, LANGUAGES AND OUTDOOR ACTIVITIES. THE COURSES USUALLY LAST A WEEK AND RUN FOR SIX WEEKS FROM JUNE 24, 2021 - AUGUST 16, 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew Green Head Of School | Officer | 40 | $271,545 |
Carmen Disanto Dir. Of Finance & Operations | Officer | 40 | $133,598 |
Joseph Valle Trustee/board Chair Thru 05/2022 | OfficerTrustee | 2 | $0 |
Ann Egan Trustee/vice President Thru 05/2022 | OfficerTrustee | 2 | $0 |
Henrik Gulmann Trustee/treasurer | OfficerTrustee | 2 | $0 |
Joan O Holden Trustee/secretary | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cape Destinations Transportation | 6/29/18 | $149,219 |
Delphi Construction Contractor | 6/29/18 | $384,945 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $153,389 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $729,620 |
| Noncash contributions included in lines 1a–1f | $42,109 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $883,009 |
| Total Program Service Revenue | $6,979,486 |
| Investment income | $57,468 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $19,715 |
| Net Gain/Loss on Asset Sales | $4,833,820 |
| Net Income from Fundraising Events | -$44,234 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,778,756 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,399,508 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $507,408 |
| Compensation of current officers, directors, key employees. | $455,652 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,935,983 |
| Pension plan accruals and contributions | $219,161 |
| Other employee benefits | $751,715 |
| Payroll taxes | $239,954 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,026 |
| Fees for services: Accounting | $27,276 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $28,450 |
| Fees for services: Other | $49,000 |
| Advertising and promotion | $43,130 |
| Office expenses | $150,754 |
| Information technology | $47,023 |
| Royalties | $0 |
| Occupancy | $74,108 |
| Travel | $238,787 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $518,316 |
| Insurance | $128,869 |
| All other expenses | $145,102 |
| Total functional expenses | $8,021,413 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $617,224 |
| Savings and temporary cash investments | $3,031,356 |
| Pledges and grants receivable | $3,000 |
| Accounts receivable, net | $3,438 |
| 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 | $101,282 |
| Net Land, buildings, and equipment | $11,012,106 |
| Investments—publicly traded securities | $8,379,394 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $23,147,800 |
| Accounts payable and accrued expenses | $681,990 |
| Grants payable | $0 |
| Deferred revenue | $1,078,832 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,760,822 |
| Net assets without donor restrictions | $16,549,070 |
| Net assets with donor restrictions | $4,837,908 |
| 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 | $23,147,800 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Falmouth Academy Incorporated has recieved totaling $37,627.
| Awarding Organization | Amount |
|---|---|
Rickard Family Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $20,000 |
Cape Cod Foundation Inc South Yarmouth, MA PURPOSE: GENERAL SUPPORT | $16,886 |
Fidelity Foundation Boston, MA PURPOSE: MATCHING GIFTS TO EDUCATION | $700 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $41 |
Endowment Analysis
| Beg. Balance | $9,460,902 |
| Earnings | -$829,795 |
| Net Contributions | $402 |
| Other Expense | $252,115 |
| Ending Balance | $8,379,394 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Central Catholic High School Inc Lawrence, MA | $53,774,234 | $20,404,394 |
Yeshiva University High Schools New York, NY | $22,674,721 | $20,464,649 |
Bancroft School Worcester, MA | $41,590,208 | $15,668,076 |
Woodstock Academy Woodstock, CT | $31,824,143 | $19,974,211 |
Derryfield School Manchester, NH | $44,949,554 | $20,323,202 |
Miss Halls School Inc Pittsfield, MA | $50,566,747 | $21,121,476 |
Tilton School Tilton, NH | $51,782,047 | $28,426,192 |
Rectory School Inc Pomfret, CT | $61,030,805 | $27,484,393 |
Westover School Inc Middlebury, CT | $114,183,779 | $14,889,393 |
Putney School Inc Putney, VT | $65,148,933 | $24,861,480 |
Ridgefield Academy Inc Ridgefield, CT | $32,737,443 | $17,017,349 |
Keio Academy Of New York Purchase, NY | $60,256,729 | $12,685,966 |