Sussex Preparatory Academy Foundation

Organization Overview

Sussex Preparatory Academy Foundation is located in Lewes, DE. The organization was established in 2012. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sussex Preparatory Academy Foundation 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 12/2023, Sussex Preparatory Academy Foundation generated $1.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (15.0%) each year. All expenses for the organization totaled $2.2m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

THE SUSSEX ACADEMY FOUNDATION IS DEDICATED TO THE ADVANCEMENT OF SUSSEX ACADEMY. THE FOUNDATION IS FOCUSED ON RAISING THE FUNDS TO MAKE MAJOR CAPITAL IMPROVEMENTS TO THE FACILITY, AS HAS EXPANDED TO SERVE BOTH MIDDLE AND HIGH SCHOOL STUDENTS, GRADES 6-12.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE SUSSEX ACADEMY FOUNDATION RAISED FUNDS TO MAKE MAJOR CAPITAL IMPROVEMENTS TO THE FACILITY, TO SERVE SCHOOL STUDENTS GRADES K-12. FUNDS WERE ALSO USED FOR OTHER RELATED EXPENSES TO SUPPORT THE STUDENTS OF THE SCHOOL. SCHOLARSHIPS WERE ALSO PROVIDED TO SEVERAL SUSSEX ACADEMY STUDENTS.


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Board, Officers & Key Employees

Name (title)Compensation
Chase Brockstedt
Member
$0
Jill Burton
Treasurer
$0
Jay Diaz
Member
$0
Steve Montgomery
Member
$0
Michele Mundok
Member
$0
Ashlee Parker
Member
$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$404,589
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$404,589
Total Program Service Revenue$0
Investment income $326
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $1,058,747

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