Glenwood Academy
- Assets
- $88.1m
- Revenue
- $6.8m
- Investments
- $40.8m
- Employees
- 105
- Location
- Glenwood, IL
- Founding
- 11/1942
- Data as of
- 08/2023
- EIN
- 36-2167087
Organization Overview
Glenwood Academy is located in Glenwood, IL. The organization was established in 1942. 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 08/2023, Glenwood Academy employed 105 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Glenwood 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 08/2023, Glenwood Academy generated $6.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $4.6m during the year ending 08/2023. 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 PROVIDE A HIGH QUALITY EDUCATION AND RESIDENTIAL PROGRAM FOR STUDENTS FROM LOWER INCOME AND SINGLE-PARENT FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESIDENTIAL EDUCATION 2-8 GRADETO PROVIDE A HIGH QUALITY EDUCATION AND RESIDENTIAL PROGRAM FOR STUDENTS FROM LOWER INCOME AND SINGLE-PARENT FAMILITES, WHO SEEK A POSITIVE ALTERNATIVE TO HOME AND COMMUNITY SITUATIONS WHICH IMPEDE OPPORTUNITIES TO ACHIEVE THEIR POTENTIAL
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pam Lawlor Chairwoman, Student & Staff Services Comiittee | Trustee | 1 | $0 |
Patrick Flinn Chairman, Development & Public Affairs Committee | OfficerTrustee | 1 | $0 |
Kurt Gabouer Chairman, Finance Committee | OfficerTrustee | 1 | $0 |
Matt Darnall Chairman, Investment Committee | OfficerTrustee | 1 | $0 |
S Biff Bowman Chairman, Nominating & Governance Committee | OfficerTrustee | 1 | $0 |
Harry Hostetler Chairman, Building & Ground Committee | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Morgan Birge & Associates Outsourced It | 8/30/23 | $117,961 |
Amber Mechanical Contractors Inc Hvac Repairs | 8/30/23 | $105,332 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $291,407 |
| Related organizations | $0 |
| Government grants | $236,896 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,380,744 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,909,047 |
| Total Program Service Revenue | $0 |
| Investment income | $806,691 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $94,587 |
| Net Income from Fundraising Events | $604,629 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,789,747 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $723,718 |
| Compensation of current officers, directors, key employees. | $493,177 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $459,531 |
| Pension plan accruals and contributions | $451,103 |
| Other employee benefits | $50,547 |
| Payroll taxes | $72,447 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,087 |
| Fees for services: Accounting | $36,020 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $124,115 |
| Fees for services: Other | $346,319 |
| Advertising and promotion | $119 |
| Office expenses | $88,499 |
| Information technology | $17,036 |
| Royalties | $0 |
| Occupancy | $224,498 |
| Travel | $2,945 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $511,898 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $772,651 |
| Insurance | $309,220 |
| All other expenses | $18,741 |
| Total functional expenses | $4,609,511 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,588,231 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,917,444 |
| Accounts receivable, net | $26,489 |
| 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 | $433,222 |
| Net Land, buildings, and equipment | $7,182,306 |
| Investments—publicly traded securities | $197,946 |
| Investments—other securities | $40,836,120 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $34,937,422 |
| Total assets | $88,119,180 |
| Accounts payable and accrued expenses | $2,594,959 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $15,966,298 |
| 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 | $18,561,257 |
| Net assets without donor restrictions | $39,995,003 |
| Net assets with donor restrictions | $29,562,920 |
| 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 | $88,119,180 |
Grants Awarded
Over the last fiscal year, Glenwood Academy has awarded $355,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
GLENWOOD SOUTH PURPOSE: Operational support | $255,000 |
GLENWOOD WEST PURPOSE: Operational support | $100,000 |