Ridgefield Academy Inc
- Assets
- $32.7m
- Revenue
- $17.0m
- Investments
- $0.0
- Employees
- 181
- Location
- Ridgefield, CT
- Founding
- 08/1998
- Data as of
- 06/2022
- EIN
- 06-1492527
Organization Overview
Ridgefield Academy Inc is located in Ridgefield, CT. The organization was established in 1998. 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, Ridgefield Academy Inc employed 181 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ridgefield 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, Ridgefield Academy Inc generated $17.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $15.5m during the year ending 06/2022. 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
TO PROVIDE EDUCATIONAL AND OTHER STUDENT PROGRAMS TO CHILDREN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTION AND AUXILIARY SERVICES OF APPROXIMATELY 566 PRE-SCHOOL AND ELEMENTARY SCHOOL AGED CHILDREN BY APPROXIMATELY 100 QUALIFIED INSTRUCTORS.
CONDUCTING SUMMER PROGRAMS
CONDUCTING AN AFTER SCHOOL PROGRAM FOR STUDENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Main Head Of School | Officer | 50 | $410,411 |
Fell Herdeg Chief Financial Officer | Officer | 50 | $174,032 |
David Suter Associate Head/director Of Admissions | 50 | $174,000 | |
Maureen Terry-Carleton Director Of Advancement | 50 | $148,201 | |
Alison O'callaghan Head Of Preschool & Lower School | 50 | $134,750 | |
Robert Howarth Head Of Middle And Upper School | 50 | $122,358 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jam Landscaping & Construction Llc Construction Contractor | 6/29/22 | $650,868 |
Me O'brien & Sons Inc Playground Equipment Contractor | 6/29/22 | $168,970 |
Recinos Corp Construction Contractor | 6/29/22 | $119,280 |
Good Deal Cleaning Service Llc Cleaning Services | 6/29/22 | $220,279 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $90,474 |
| Related organizations | $0 |
| Government grants | $1,325,600 |
| All other contributions, gifts, grants, and similar amounts not included above | $565,359 |
| Noncash contributions included in lines 1a–1f | $11,179 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,981,433 |
| Total Program Service Revenue | $14,825,506 |
| Investment income | $188,349 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $122,550 |
| Net Gain/Loss on Asset Sales | -$149,548 |
| Net Income from Fundraising Events | $49,059 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,017,349 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,335,406 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,001,332 |
| Compensation of current officers, directors, key employees. | $722,815 |
| Compensation of current officers, directors, key employees. | $256,722 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,604,027 |
| Pension plan accruals and contributions | $187,653 |
| Other employee benefits | $822,657 |
| Payroll taxes | $542,935 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $59,483 |
| Fees for services: Other | $0 |
| Advertising and promotion | $149,619 |
| Office expenses | $1,471,109 |
| Information technology | $190,008 |
| Royalties | $0 |
| Occupancy | $637,486 |
| Travel | $124,036 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $555,323 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,010,600 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $15,530,016 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $274,262 |
| Savings and temporary cash investments | $6,745,802 |
| Pledges and grants receivable | $5,770 |
| Accounts receivable, net | $5,071,748 |
| 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 | $56,446 |
| Net Land, buildings, and equipment | $11,309,828 |
| Investments—publicly traded securities | $9,211,124 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $62,463 |
| Total assets | $32,737,443 |
| Accounts payable and accrued expenses | $703,540 |
| Grants payable | $0 |
| Deferred revenue | $13,024,753 |
| Tax-exempt bond liabilities | $7,264,940 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $888,212 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $21,881,445 |
| Net assets without donor restrictions | $8,794,783 |
| Net assets with donor restrictions | $2,061,215 |
| 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 | $32,737,443 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Ridgefield Academy Inc has recieved totaling $324,207.
| Awarding Organization | Amount |
|---|---|
Anna Maria And Stephen Kellen Foundation Inc New York, NY PURPOSE: GENERAL TAX EXEMPT PURPOSES | $200,000 |
The Sophie Stenbeck Family Foundation Los Angeles, CA PURPOSE: GENERAL SUPPORT | $50,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $23,516 |
The Ronald Davis Family Foundation Inc Avon, CO PURPOSE: UNRESTRICTED | $18,837 |
George J & Jessica Harris Foundation Stamford, CT PURPOSE: EDUCATING AND ENCOURAGING STUDENTS TO BECOME KNOWLEDGEABLE, PASSIONATE, AND CONFIDENT INDIVIDUALS. | $15,000 |
Ayco Charitable Foundation Cohoes, NY PURPOSE: EDUCATION | $5,500 |
Endowment Analysis
| Beg. Balance | $2,015,119 |
| Earnings | -$276,327 |
| Net Contributions | $156,640 |
| Ending Balance | $1,895,432 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kent School Corporation Kent, CT | $229,105,384 | $52,388,614 |
Hopkins School Incorporated New Haven, CT | $238,380,739 | $44,795,541 |
Middlesex School Concord, MA | $485,283,896 | $51,739,388 |
Trustees Of Thayer Academy Braintree, MA | $161,523,903 | $74,068,471 |
Tabor Academy Marion, MA | $131,644,395 | $42,865,044 |
Berkshire School Inc Sheffield, MA | $360,181,943 | $53,167,690 |
Norwich Free Academy Norwich, CT | $43,430,200 | $37,532,143 |
St Marks School Of Southborough Inc Southborough, MA | $256,704,983 | $26,796,658 |
Beaver Country Day School Inc Chestnut Hill, MA | $85,211,798 | $37,690,859 |
Trustees Of Westminster School Inc Simsbury, CT | $266,021,202 | $46,508,932 |
Williston Northampton School Easthampton, MA | $100,619,158 | $41,610,730 |
St Georges School Newport, RI | $313,371,330 | $43,582,609 |