Sumner Academy Inc Nichols Lane
- Assets
- $2.6m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 50
- Location
- Gallatin, TN
- Founding
- 04/1973
- Data as of
- 06/2022
- 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 06/2022, Sumner Academy Inc Nichols Lane employed 50 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 06/2022, Sumner Academy Inc Nichols Lane generated $2.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $2.2m 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
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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven Whitaker Headmaster | Officer | 45 | $76,500 |
Hannah Martin Head Of Oper | Officer | 45 | $59,840 |
Dan Shockley President | OfficerTrustee | 2 | $0 |
Kellly Smits Vice Preside | OfficerTrustee | 1 | $0 |
Mandy Belote Secretary | OfficerTrustee | 0.25 | $0 |
Jonathan Wallace Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $78,676 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $387,086 |
| Noncash contributions included in lines 1a–1f | $43,642 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $465,762 |
| Total Program Service Revenue | $2,026,497 |
| Investment income | $445 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$29,998 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,478,487 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $137,226 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $142,858 |
| Compensation of current officers, directors, key employees. | $142,858 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,039,365 |
| Pension plan accruals and contributions | $29,997 |
| Other employee benefits | $43,367 |
| Payroll taxes | $89,853 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,538 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $14,837 |
| Advertising and promotion | $7,656 |
| Office expenses | $77,035 |
| Information technology | $47,793 |
| Royalties | $0 |
| Occupancy | $129,406 |
| Travel | $19,913 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $72,144 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $147,670 |
| Insurance | $24,489 |
| All other expenses | $4,352 |
| Total functional expenses | $2,201,314 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $832,059 |
| Savings and temporary cash investments | $602 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $19,394 |
| 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 | $1,729,737 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $6,145 |
| Other assets | $0 |
| Total assets | $2,587,937 |
| Accounts payable and accrued expenses | $129,892 |
| Grants payable | $0 |
| Deferred revenue | $653,419 |
| 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 | $1,340,577 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,123,888 |
| Net assets without donor restrictions | $189,049 |
| Net assets with donor restrictions | $275,000 |
| 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 | $2,587,937 |