Sumner Academy Inc Nichols Lane
- Assets
- $2.3m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 40
- Location
- Gallatin, TN
- Founding
- 04/1973
- Data as of
- 06/2021
- EIN
- 23-7242981
Organization Overview
Sumner Academy Inc Nichols Lane is located in Gallatin, TN. The organization was established in 1973. According to its NTEE Classification (B21) the organization is classified as: Preschools, under the broad grouping of Education and related organizations. As of 06/2021, Sumner Academy Inc Nichols Lane employed 40 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sumner Academy Inc Nichols Lane 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, Sumner Academy Inc Nichols Lane generated $2.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $2.2m during the year ending 06/2021. 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
WE RECOGNIZE EVERY CHILD'S GIFTS. OUR MISSION IS TO HELP DISCOVER AND CULTIVATE EACH CHILD'S UNIQUE TALENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUMNER ACADEMY IS AN INDEPENDENT SAIS/ADVANCED (SACS)ACCREDITED SCHOOL OFFERING PROGRAMS OF INSTRUCTION FOR GRADES PRE-KINDERGARTEN THROUGH THE EIGHTH GRADE, BEFORE AND AFTER SCHOOL PROGRAMS, INCLUDING TRANSPORTATION TO AND FROM SCHOOL.
WE RECOGNIZE EVERY CHILD'S GIFTS. OUR MISSION IS TO HELP DISCOVER AND CULTIVATE EACH CHILD'S UNIQUE TALENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hannah Martin Head Of Oper | Officer | 45 | $59,200 |
Steven Whitaker Headmaster | Officer | 40 | $55,385 |
Dan Shockley President | OfficerTrustee | 2 | $0 |
Stewart Stowers Vice Preside | OfficerTrustee | 1 | $0 |
Kelly Smits Secretary | OfficerTrustee | 1 | $0 |
Carl Monaco Trustee | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $60,036 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $76,278 |
| Noncash contributions included in lines 1a–1f | $45,404 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $136,314 |
| Total Program Service Revenue | $2,051,900 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$7,732 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,180,482 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $262,675 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $120,225 |
| Compensation of current officers, directors, key employees. | $38,996 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,028,769 |
| Pension plan accruals and contributions | $37,419 |
| Other employee benefits | $5,977 |
| Payroll taxes | $87,224 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,702 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $16,460 |
| Advertising and promotion | $6,977 |
| Office expenses | $85,473 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $113,012 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $77,755 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $173,190 |
| Insurance | $23,976 |
| All other expenses | $7,949 |
| Total functional expenses | $2,200,721 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $366,949 |
| Savings and temporary cash investments | $601 |
| Pledges and grants receivable | $59,643 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $1,853,865 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $9,220 |
| Other assets | $0 |
| Total assets | $2,290,278 |
| Accounts payable and accrued expenses | $115,041 |
| Grants payable | $0 |
| Deferred revenue | $590,316 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,398,045 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,103,402 |
| Net assets without donor restrictions | $166,826 |
| Net assets with donor restrictions | $20,050 |
| 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 | $2,290,278 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Sumner Academy Inc Nichols Lane has recieved totaling $35,000.
| Awarding Organization | Amount |
|---|---|
Memorial Foundation Inc Hendersonville, TN PURPOSE: TO FURTHER EXEMPT PURPOSES | $35,000 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Langley School Inc Mclean, VA | $63,128,940 | $18,629,240 |
Economic Security Corporation Of Southwest Area Joplin, MO | $10,642,309 | $18,556,997 |
Wake County Smartstart Raleigh, NC | $3,415,796 | $19,658,248 |
Livingston Byrdstown Jamestown And Cookeville Development Corporation Cookeville, TN | $2,043,241 | $13,554,742 |
Hope Montessori Academy St Louis, MO | $759,290 | $12,407,556 |
Washington County Opportunities Inc Greenville, MS | $2,892,910 | $12,059,595 |
Columbia Academy School Columbia, TN | $17,513,853 | $13,288,512 |
Montessori School Of Raleigh Inc Raleigh, NC | $11,662,431 | $8,380,387 |
Forsyth School Inc Saint Louis, MO | $26,400,656 | $9,718,193 |
The New School Fayetteville, AR | $39,755,955 | $6,395,577 |
Smart Start Of Forsyth County Winston Salem, NC | $369,779 | $8,124,286 |
Caldwell Academy Greensboro, NC | $20,742,733 | $8,088,099 |