Cheshire Academy
- Assets
- $50.0m
- Revenue
- $20.4m
- Investments
- $8.5m
- Employees
- 165
- Location
- Cheshire, CT
- Founding
- 02/1939
- Data as of
- 06/2023
- EIN
- 06-0662113
Organization Overview
Cheshire Academy is located in Cheshire, CT. The organization was established in 1939. 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 06/2023, Cheshire Academy employed 165 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cheshire 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 06/2023, Cheshire Academy generated $20.4m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.0%) each year. All expenses for the organization totaled $22.6m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (0.1%) per year over the past 8 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ACADEMY PROVIDES EDUCATIONAL ACTIVITIES TO APPROXIMATELY 360 STUDENTS GRADES 9-12, AS WELL AS A POSTGRADUATE YEAR.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHESHIRE ACADEMY STUDENTS GROW INCREASINGLY CAPABLE OF INDEPENDENTLY OBSERVING, QUESTIONING, EXPLAINING, INTERPRETING, AND ANALYZING THE WORLD. OUR ACADEMIC PROCESS BEGINS WITH WHAT STUDENTS KNOW AND WANT TO KNOW, AND DEVELOPS ACTIVE LEARNERS WHO REFLECT ON THEIR GROWTH AND THE IMPLICATIONS OF THEIR LEARNING. LOCATED IN DOWNTOWN CHESHIRE, CHESHIRE ACADEMY IS A PRIVATE SCHOOL WITH A STUDENT BODY OF APPROXIMATELY 360 STUDENTS FOR GRADES 9-12 AND POSTGRADUATE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Freedman Chair | OfficerTrustee | 8 | $0 |
Ron Bergamo Vice Chair | OfficerTrustee | 8 | $0 |
Catherine Bonneau Secretary | OfficerTrustee | 8 | $0 |
Jared Pinsker Treasurer | OfficerTrustee | 8 | $0 |
William Ampofo Trustee | Trustee | 2 | $0 |
Angelina Casanova Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Flik - Compass Group Usa Student Dining Services | 6/29/23 | $1,780,182 |
Rad Sports Construction Services | 6/29/23 | $4,106,031 |
Tkc Management Facilities Management Services | 6/29/23 | $775,759 |
Cape & Island Corp Construction Services | 6/29/23 | $415,000 |
Pbm Preferred Buidling Maintenance Cleaning Services | 6/29/23 | $170,266 |
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 | $2,031,955 |
| Noncash contributions included in lines 1a–1f | $391,370 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,031,955 |
| Total Program Service Revenue | $17,143,973 |
| Investment income | $388,438 |
| Tax Exempt Bond Proceeds | $27,957 |
| Royalties | $0 |
| Net Rental Income | $26,063 |
| Net Gain/Loss on Asset Sales | $644,899 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $29,104 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $20,387,255 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $4,285,091 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $860,784 |
| Compensation of current officers, directors, key employees. | $758,192 |
| Compensation to disqualified persons | $96,764 |
| Other salaries and wages | $7,411,224 |
| Pension plan accruals and contributions | $427,313 |
| Other employee benefits | $1,232,916 |
| Payroll taxes | $613,758 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $26,120 |
| Fees for services: Accounting | $56,160 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $858 |
| Fees for services: Other | $1,537,623 |
| Advertising and promotion | $88,097 |
| Office expenses | $902,145 |
| Information technology | $69,417 |
| Royalties | $0 |
| Occupancy | $599,971 |
| Travel | $269,140 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,297 |
| Interest | $14,042 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,527,082 |
| Insurance | $192,544 |
| All other expenses | $154,727 |
| Total functional expenses | $22,555,863 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,573,055 |
| Savings and temporary cash investments | $2,236,922 |
| Pledges and grants receivable | $926,448 |
| Accounts receivable, net | $294,627 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $61,456 |
| Prepaid expenses and deferred charges | $345,368 |
| Net Land, buildings, and equipment | $21,791,795 |
| Investments—publicly traded securities | $12,204,132 |
| Investments—other securities | $8,521,635 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $49,955,438 |
| Accounts payable and accrued expenses | $757,271 |
| Grants payable | $0 |
| Deferred revenue | $4,896,759 |
| Tax-exempt bond liabilities | $5,145,165 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $304,333 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $11,103,528 |
| Net assets without donor restrictions | $19,213,601 |
| Net assets with donor restrictions | $19,638,309 |
| 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 | $49,955,438 |