Friends Academy
- Assets
- $110.5m
- Revenue
- $33.7m
- Investments
- $0.0
- Employees
- 332
- Location
- Locust Valley, NY
- Founding
- 06/1934
- Data as of
- 06/2023
- EIN
- 11-1633485
Organization Overview
Friends Academy is located in Locust Valley, NY. The organization was established in 1934. 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 06/2023, Friends Academy employed 332 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends 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, Friends Academy generated $33.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $36.3m during the year ending 06/2023. While expenses have increased by 2.5% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE AN INDEPENDENT ELEMENTARY AND SECONDARY EDUCATIONAL INSTITUTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTION AND STUDENT ACTIVITIES - ACADEMICS: AS A QUAKER SCHOOL, FRIENDS ENDORSES THE PRINCIPLE THAT ALL STUDENTS HAVE WORTH AND ABILITY, AND OUR ACADEMIC PROGRAM PROVIDES FOR EACH STUDENT TO FIND HIS OR HER OWN VOICE AND ACHIEVE EXCELLENCE. CHARACTER EDUCATION: A CENTER PIECE OF OUR PROGRAM IS COMMUNITY SERVICE, ONE OF THE ESSENTIAL QUAKER TESTIMONIES. WE OFFER AGE APPROPRIATE SERVICE OPPORTUNITIES FOR ALL OUR STUDENTS AS WE TEACH THEM THAT INDIVIDUALS CAN MAKE A DIFFERENCE IN THE WORLD. COLLEGE PREPARATION: WE ARE COMMITTED TO PREPARING STUDENTS NOT ONLY FOR COLLEGE, BUT ALSO FOR RESPONSIBLE CITIZENSHIP. TO THAT END, BEYOND COMMUNITY SERVICE, WE NURTURE LEADERSHIP, CIVIC RESPONSIBILITY, AND COMMUNITY ESPECIALLY IN TERMS OF EQUALITY AND DIVERSITY. FRIENDS ACADEMY SERVED 688 STUDENTS DURING THE 2022-2023 SCHOOL YEAR.
SUMMER PROGRAM: FRIENDS ACADEMY SUMMER CAMP PROGRAMS ARE BASED ON THE BELIEF IN THE UNIQUE WORTH OF EVERY CHILD. PROGRAM ACCOMPLISHMENTS INCLUDE DEVELOPING EACH CAMPER'S SELF-CONFIDENCE AS FULLY AS POSSIBLE BY PROVIDING A PLACE WHERE CHILDREN CAN HAVE FUN, MAKE FRIENDS, AND LEARN IN A SAFE AND FRIENDLY ENVIRONMENT, IMPLEMENTING AN ORGANIZED PROGRAM OF FUN AND EXCITING ACTIVITIES THAT PROVIDE MULTIPLE OPPORTUNITIES FOR CAMPERS TO LEARN, SUCCEED, AND DEVELOP CONFIDENCE. THE SUMMER CAMP CONSISTS OF OVER 30 DIVERSE PROGRAMS (SPORTS, ARTS, SCIENCE, COMPUTERS, ACADEMIC AND TRAVEL) FOR AGES 3-15 YRS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank Ingrassia President | OfficerTrustee | 0.3 | $0 |
David Gelfand Vice President | OfficerTrustee | 0.3 | $0 |
Rachel Etess Green Vice President | OfficerTrustee | 0.3 | $0 |
Stephen Witthuhn Secretary | OfficerTrustee | 0.3 | $0 |
Andrew Menzin Assistant Secretary | OfficerTrustee | 0.3 | $0 |
Rajinder Singh Treasurer | OfficerTrustee | 0.3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Flik Independent School Food Services | 6/29/23 | $1,334,310 |
S L A M Architects Pc Construction | 6/29/23 | $574,866 |
American Paving Inc Paving Repairs | 6/29/23 | $112,675 |
Dynamic Air Conditioning Co Hvac Service | 6/29/23 | $243,889 |
Carney Sandoe & Associates Faculty Placement | 6/29/23 | $102,276 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $288,441 |
| Related organizations | $0 |
| Government grants | $329,181 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,261,731 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,879,353 |
| Total Program Service Revenue | $29,136,807 |
| Investment income | $1,263,268 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $184,908 |
| Net Gain/Loss on Asset Sales | -$1,246 |
| Net Income from Fundraising Events | $179,571 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $33,707,583 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,148,135 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,079,360 |
| Compensation of current officers, directors, key employees. | $1,079,360 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $16,027,143 |
| Pension plan accruals and contributions | $750,821 |
| Other employee benefits | $3,764,447 |
| Payroll taxes | $1,236,712 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $95,079 |
| Fees for services: Accounting | $49,075 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,898,720 |
| Advertising and promotion | $202,427 |
| Office expenses | $461,345 |
| Information technology | $527,539 |
| Royalties | $0 |
| Occupancy | $1,769,894 |
| Travel | $238,378 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $144,189 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,557,505 |
| Insurance | $585,110 |
| All other expenses | $510,485 |
| Total functional expenses | $36,300,239 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,467,821 |
| Savings and temporary cash investments | $25,488 |
| Pledges and grants receivable | $217,809 |
| Accounts receivable, net | $375,493 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,980 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $303,720 |
| Net Land, buildings, and equipment | $40,733,898 |
| Investments—publicly traded securities | $60,374,570 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $110,501,779 |
| Accounts payable and accrued expenses | $2,019,831 |
| Grants payable | $0 |
| Deferred revenue | $4,587,712 |
| Tax-exempt bond liabilities | $9,792,545 |
| 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 | $16,400,088 |
| Net assets without donor restrictions | $89,747,917 |
| Net assets with donor restrictions | $4,353,774 |
| 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 | $110,501,779 |