Merrimac Heights Academy Inc
- Assets
- $2.2m
- Revenue
- $1.7m
- Investments
- $27.0k
- Employees
- 22
- Location
- Merrimac, MA
- Founding
- 06/2014
- Data as of
- 06/2023
- EIN
- 36-4760914
Organization Overview
Merrimac Heights Academy Inc is located in Merrimac, MA. The organization was established in 2014. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 06/2023, Merrimac Heights Academy Inc employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Merrimac Heights Academy Inc 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, Merrimac Heights Academy Inc generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 20.5% each year . All expenses for the organization totaled $1.3m during the year ending 06/2023. While expenses have increased by 26.4% 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 PROVIDE SECONDARY AND POST-SECONDARY EDUCATION INCLUDING CAREER- TECHNICAL TRAINING; TO ENSURE SUCCESSFUL TRANSITION INTO EMPLOYMENT; TO INCREASE PROPENSITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MISSION OF MERRIMAC HEIGHTS ACADEMY IS TO ASSIST YOUTH, AGES 4-21, WITH COMPLEX LANGUAGE, LEARNING, AND COGNITIVE DISABILITIES, WHO ARE UNABLE TO ACCESS THE TRADITIONAL HIGH SCHOOL CURRICULUM, ACHIEVE THEIR MAXIMUM POTENTIAL IN A SUPPORTIVE, NON-TRADTIONAL SCHOOL SETTING; TO PROVIDE STUDENTS WITH TOOLS TO FUNCTION INDEPENDENTLY; TO PROVIDE SECONDARY AND POST-SECONDARY EDUCATION WHICH INCLUDES VOCATIONAL TRAINING; TO DECREASE THE JUVENILE DELINQUENCY AND DROP-OUT RATE OMORE PREVALENT AMONG STUDENTS WITH DISABILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lygia Soares Executive Di | Trustee | 40 | $135,224 |
Ken Lynch Board Member | Trustee | 2 | $0 |
Jim Major Board Member | Trustee | 2 | $0 |
Bernice Pierce Secretary | Trustee | 2 | $0 |
Caitlin Rivet Board Member | Trustee | 2 | $0 |
Mike Sanborn Board Member | Trustee | 2 | $0 |
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 | $192,154 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $192,154 |
| Total Program Service Revenue | $1,444,453 |
| Investment income | $469 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$6 |
| Net Income from Fundraising Events | $81,960 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,719,030 |
| 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. | $135,224 |
| Compensation of current officers, directors, key employees. | $13,522 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $763,758 |
| Pension plan accruals and contributions | $49,206 |
| Other employee benefits | $37,645 |
| Payroll taxes | $76,680 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,749 |
| Fees for services: Accounting | $25,985 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $23,220 |
| Advertising and promotion | $1,150 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $41,888 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $29,423 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $22,681 |
| Insurance | $21,943 |
| All other expenses | $24,281 |
| Total functional expenses | $1,312,830 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,037,593 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $94,475 |
| 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 | $1,044,157 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $27,042 |
| Investments—program-related | $0 |
| Intangible assets | $6,175 |
| Other assets | $0 |
| Total assets | $2,209,442 |
| Accounts payable and accrued expenses | $25,518 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $887,658 |
| Total liabilities | $913,176 |
| Net assets without donor restrictions | $1,296,266 |
| Net assets with donor restrictions | $0 |
| 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 | $2,209,442 |