Greenwich Academy Inc
- Assets
- $313.4m
- Revenue
- $56.7m
- Investments
- $66.3m
- Employees
- 271
- Location
- Greenwich, CT
- Founding
- 11/1938
- Data as of
- 06/2021
- EIN
- 06-0653118
Organization Overview
Greenwich Academy Inc is located in Greenwich, CT. The organization was established in 1938. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Greenwich Academy Inc employed 271 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greenwich 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 06/2021, Greenwich Academy Inc generated $56.7m 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 $51.7m during the year ending 06/2021. While expenses have increased by 2.1% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
GREENWICH ACADEMY IS AN INDEPENDENT COLLEGE-PREPARATORY DAY SCHOOL FOR GIRLS AND YOUNG WOMEN THAT SEEKS TO FOSTER EXCELLENCE. ITS MISSION IS TO PROVIDE A CHALLENGING, COMPREHENSIVE EDUCATIONAL EXPERIENCE GROUNDED IN A RIGOROUS LIBERAL ARTS CURRICULUM WITHIN AN INCLUSIVE, DIVERSE COMMUNITY. THE SCHOOL'S OBJECTIVE IS TO DEVELOP GIRLS AND YOUNG WOMEN OF EXCEPTIONAL CHARACTER AND ACHIEVEMENT WHO DEMONSTRATE INDEPENDENCE, RESILIENCE, COURAGE, INTEGRITY AND COMPASSION. WE STRIVE, ABOVE ALL, TO HONOR OUR MOTTO, "TOWARD THE BUILDING OF CHARACTER."
Describe the Organization's Program Activity:
Part 3 - Line 4a
GREENWICH ACADEMY IS A COLLEGE PREPARATORY DAY SCHOOL SERVING GIRLS IN GRADES PRE-KINDERGARTEN THROUGH GROUP XII. ALL EXPENDITURES FOR COMPENSATION AND OTHER EXPENSES ARE IN SUPPORT OF INSTRUCTIONAL AND INSTITUTIONAL ACTIVITIES. THIS INCLUDES THE INSTRUCTION OF APPROXIMATELY 800 GIRLS BY 220 FULL TIME AND PART TIME FACULTY AND STAFF.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alexa Raether Maddock Trustee | Trustee | 1 | $0 |
Alexander Captain Trustee | Trustee | 1 | $0 |
Alexandra Steel Scott Trustee | Trustee | 1 | $0 |
Andra Winokur Newman Chairman | OfficerTrustee | 15 | $0 |
Anne Day Thorp Trustee | Trustee | 1 | $0 |
Barnett D Osman Vice Chair | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ap Construction Co Construction | 6/29/22 | $17,313,930 |
Sodexo Inc & Affiliates Facility Services | 6/29/22 | $2,292,110 |
Cebulski Construction Company Co Inc Construction | 6/29/22 | $873,480 |
Dhi Construction Services Inc Construction | 6/29/22 | $2,101,000 |
Flik Independent Schools Dining Services | 6/29/22 | $1,192,327 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,495,760 |
| Investment income | $14,946 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $382,793 |
| Net Gain/Loss on Asset Sales | $1,411,566 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $78,104 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $56,728,095 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $3,546,178 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,598,236 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $19,352,980 |
| Pension plan accruals and contributions | $1,860,531 |
| Other employee benefits | $6,155,608 |
| Payroll taxes | $1,564,992 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $196,006 |
| Fees for services: Accounting | $59,818 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $370,520 |
| Fees for services: Other | $42,589 |
| Advertising and promotion | $177,890 |
| Office expenses | $327,407 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $430,923 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $267,650 |
| Interest | $1,171,530 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,967,313 |
| Insurance | $500,687 |
| All other expenses | $0 |
| Total functional expenses | $51,697,211 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,388 |
| Savings and temporary cash investments | $29,047,768 |
| Pledges and grants receivable | $19,447,089 |
| Accounts receivable, net | $1,348,531 |
| 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 | $835,595 |
| Investments—publicly traded securities | $72,630,282 |
| Investments—other securities | $66,262,787 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $313,417,197 |
| Accounts payable and accrued expenses | $8,888,692 |
| Grants payable | $0 |
| Deferred revenue | $16,796,579 |
| Tax-exempt bond liabilities | $23,804,154 |
| 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 | $49,489,425 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $263,927,772 |