Regents Of The Mercersburg College
- Assets
- $535.1m
- Revenue
- $49.2m
- Investments
- $307.2m
- Employees
- 372
- Location
- Mercersburg, PA
- Founding
- 06/1935
- Data as of
- 06/2022
- EIN
- 23-1365963
Organization Overview
Regents Of The Mercersburg College, operating under the name The Mercersburg Academy, is located in Mercersburg, PA. The organization was established in 1935. 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, Mercersburg Academy employed 372 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mercersburg 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 06/2022, Mercersburg Academy generated $49.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.5%) each year. All expenses for the organization totaled $46.6m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
MERCERSBURG ACADEMY IS A STUDENT-CENTERED SCHOOL THAT ALLOWS STUDENTS TO DEFINE THEMSELVES THROUGH THE ESTABLISHMENT OF MEANINGFUL RELATIONSHIPS AND EXPOSURE TO A VAST RANGE OF ACADEMIC, EXTRA-CURRICULAR, AND CO-CURRICULAR OPPORTUNITIES. MERCERSBURG STUDENTS ACTIVELY AND CONFIDENTLY EXPERIENCE THE WORLD BOTH ON CAMPUS AND ABROAD. WE UNDERSTAND THE BENEFIT OF EXPERIENTIAL LEARNING AND PROVIDE THE IDEAL ACADEMIC SETTING FOR A BALANCED AND AUTHENTIC LEARNING ENVIRONMENT. MERCERSBURG ACADEMY BELIEVES IN THE VALUE OF HONORING OUR PAST, ENGAGING THE PRESENT, AND PREPARING FOR THE FUTURE. FOUNDED IN 1893, MERCERSBURG ACADEMY IS COMMITTED TO PROVIDING STUDENTS WITH THE OPPORTUNITY TO LIVE AND LEARN IN A RICHLY DIVERSE ACADEMIC ENVIRONMENT THAT PROVIDES A RIGOROUS AND RELEVANT CURRICULUM TO 446 BOARDING AND DAY STUDENTS FROM OVER 30 STATES, INCLUDING THE DISTRICT OF COLUMBIA, AND MORE THAN 40 NATIONS.
Describe the Organization's Program Activity:
AN INDEPENDENT COLLEGE-PREPARATORY SCHOOL IN SOUTH-CENTRAL PENNSYLVANIA, THE ACADEMY OFFERS A RIGOROUS ACADEMIC PROGRAM TO APPROXIMATELY 445 BOARDING AND DAY STUDENTS IN GRADES 9 THROUGH 12. IN SMALL CLASSES, STUDENTS AND FACULTY WORK EYE TO EYE AND MIND TO MIND, AS THEY DEEPEN THEIR UNDERSTANDING OF THEIR SUBJECTSAND OF THEMSELVES. OUTSIDE THE CLASSROOM, STUDENTS IMMERSE THEMSELVES IN THEATER, SPORTS, MUSIC, COMPETITIONS, AND CAMARADERIE. THEY DEVELOP DEEP FRIENDSHIPS WITH STUDENTS FROM NEXT DOOR AND FROM ACROSS THE WORLD. THEY EXPLORE NEW CONCEPTS AND PUSH PAST THEIR LIMITS. MERCERSBURG IS A PLACE OF TRANSFORMATION. STUDENTS TRANSFORM THEMSELVESAS THEY PREPARE TO TRANSFORM THEIR WORLD.
SUMMER PROGRAMS:DURING THE SUMMER, MERCERSBURG PROVIDES FOR A WIDE RANGE OF OPPORTUNITIES FOR LEARNING, PERSONAL GROWTH, AND MOST IMPORTANTLY, FUN. EACH SUMMER, PARTICIPANTS TAKE PART IN AN ARRAY OF PROGRAMS, RANGING FROM THE ADVENTURE CAMP SERIES TO VARIOUS ENRICHMENT, ARTS, AND SPORTS CAMPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Katherine Titus Former Head Of School | 0 | $414,350 | |
Quentin Mcdowell Head Of School | OfficerTrustee | 60 | $322,791 |
Maria Kimsey Assoc. Head Of School/fin & Ops/treas | Officer | 50 | $281,531 |
William Kissick Chief Advancement Officer | Officer | 50 | $222,113 |
Julia Maurer Assoc. Head Of School | Officer | 50 | $195,947 |
Brian Nordyke Director Of Facilities | Officer | 50 | $174,282 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Meriwether Godsey Food Service | 6/29/22 | $1,963,555 |
Blanchard Group Llc Consulting | 6/29/22 | $153,298 |
Custom Cleaning Service Co Inc Cleaning Services | 6/29/22 | $207,615 |
Basecamp Consulting Llc Stratgic Fundraising Comm. & Strategy | 6/29/22 | $157,297 |
Hbp Inc Printing Services, Yearbook | 6/29/22 | $150,229 |
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 | $7,474,373 |
| Noncash contributions included in lines 1a–1f | $1,407,660 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,474,373 |
| Total Program Service Revenue | $27,837,063 |
| Investment income | $9,358,893 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $157 |
| Net Gain/Loss on Asset Sales | $4,220,757 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $183,921 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $49,172,082 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $25,000 |
| Grants and other assistance to domestic individuals. | $7,030,710 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,364,418 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $14,216,658 |
| Pension plan accruals and contributions | $1,526,253 |
| Other employee benefits | $3,255,926 |
| Payroll taxes | $1,141,226 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $88,441 |
| Fees for services: Accounting | $88,973 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,600,401 |
| Fees for services: Other | $3,316,059 |
| Advertising and promotion | $183,615 |
| Office expenses | $456,790 |
| Information technology | $479,000 |
| Royalties | $0 |
| Occupancy | $2,174,967 |
| Travel | $642,534 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $195,713 |
| Interest | $2,131,555 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,522,856 |
| Insurance | $587,080 |
| All other expenses | $14,098 |
| Total functional expenses | $46,632,349 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,900 |
| Savings and temporary cash investments | $23,868,939 |
| Pledges and grants receivable | $35,124,343 |
| Accounts receivable, net | $15,311,431 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $233,700 |
| Inventories for sale or use | $161,302 |
| Prepaid expenses and deferred charges | $471,510 |
| Net Land, buildings, and equipment | $99,762,942 |
| Investments—publicly traded securities | $47,441,803 |
| Investments—other securities | $307,240,912 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,521,962 |
| Total assets | $535,140,744 |
| Accounts payable and accrued expenses | $2,034,962 |
| Grants payable | $0 |
| Deferred revenue | $19,021,342 |
| Tax-exempt bond liabilities | $49,112,658 |
| 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 | $5,524,893 |
| Total liabilities | $75,693,855 |
| Net assets without donor restrictions | $224,614,248 |
| Net assets with donor restrictions | $234,832,641 |
| 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 | $535,140,744 |
Grants Awarded
Over the last fiscal year, Regents Of The Mercersburg College has awarded $25,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Mercersburg, PA PURPOSE: GENERAL SUPPORT TO ASSIST WITH NEEDS OF THE FIRE COMPANY | $15,000 |
Mercersburg, PA PURPOSE: GENERAL SUPPORT | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 13 grants that Regents Of The Mercersburg College has recieved totaling $7,395,120.
| Awarding Organization | Amount |
|---|---|
Deborah Joy Simon Foundation Carmel, IN PURPOSE: CONTRIBUTION FOR FINANCIAL AID, FACULTY SUPPORT, PROGRAM SUPPORT, CAPITAL, UNRESTRICTED ANNUAL GIVING AND CURRENT-RESTRICTED GIFTING. | $6,500,000 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $735,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $83,750 |
Community Foundation Of Washington County Maryland Incorporated Hagerstown, MD PURPOSE: SCHOLARSHIPS | $27,125 |
Artiss Devolt Zacharias Charitable Trust Albany, GA PURPOSE: MUSIC DEPARTMENT | $18,546 |
Foundation For The Carolinas Charlotte, NC PURPOSE: CHARITABLE GIFT | $11,033 |
Endowment Analysis
| Beg. Balance | $404,634,207 |
| Earnings | -$42,965,943 |
| Net Contributions | $11,947,588 |
| Other Expense | $11,820,816 |
| Ending Balance | $361,795,036 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Trustees Of The Lawrenceville School Lawrenceville, NJ | $908,146,906 | $142,227,478 |
The Hill School Pottstown, PA | $339,549,890 | $89,638,080 |
Regents Of The Mercersburg College Mercersburg, PA | $535,140,744 | $49,172,082 |
Gilman School Inc Baltimore, MD | $238,892,271 | $38,036,593 |
Blair Academy Blairstown, NJ | $256,075,147 | $54,316,334 |
Holton-Arms School Inc Bethesda, MD | $133,918,121 | $38,119,997 |
Western Reserve Academy Hudson, OH | $203,998,204 | $58,141,913 |
The Seven Hills Schools Cincinnati, OH | $111,206,150 | $34,365,521 |
Morristown-Beard School Morristown, NJ | $71,175,267 | $35,071,625 |
Pennington School Pennington, NJ | $95,126,184 | $33,377,887 |
St Andrews Episcopal School Inc Potomac, MD | $83,174,031 | $30,817,454 |
St Andrews School Of Delaware Inc Middletown, DE | $398,873,444 | $32,788,416 |