Randolph Macon Academy
- Assets
- $36.3m
- Revenue
- $14.2m
- Investments
- $0.0
- Employees
- 165
- Location
- Front Royal, VA
- Founding
- 02/1974
- Data as of
- 06/2022
- EIN
- 54-0505939
Organization Overview
Randolph Macon Academy is located in Front Royal, VA. The organization was established in 1974. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 06/2022, Randolph Macon Academy employed 165 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Randolph Macon 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 06/2022, Randolph Macon Academy generated $14.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $15.4m 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
RANDOLPH-MACON ACADEMY IS A COLLEGE-PREPARATORY SCHOOL USING MILITARY VALUES TO PREPARE QUALIFIED YOUNG PEOPLE FOR LEADERSHIP ROLES IN THE UNITED STATES AND AROUND THE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALL PROGRAM SERVICE EXPENSES ARE DIRECTLY RELATED TO ACTIVITIES NECESSARY IN OPERATING A BOARDING EDUCATION INSTITUTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sage Dining Services Inc Food Services | 6/29/22 | $0 |
Blackbaud Accounting Services | 6/29/22 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,361,266 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,321,906 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,683,172 |
| Total Program Service Revenue | $11,276,984 |
| Investment income | $157,900 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $158,583 |
| Net Gain/Loss on Asset Sales | $355,741 |
| Net Income from Fundraising Events | -$703,988 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $177,602 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,186,434 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,838,046 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $288,044 |
| Compensation of current officers, directors, key employees. | $50,742 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,234,039 |
| Pension plan accruals and contributions | $120,409 |
| Other employee benefits | $842,183 |
| Payroll taxes | $386,738 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,366 |
| Fees for services: Accounting | $48,588 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $325,422 |
| Advertising and promotion | $377,542 |
| Office expenses | $400,380 |
| Information technology | $327,112 |
| Royalties | $0 |
| Occupancy | $476,143 |
| Travel | $224,753 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $105,423 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,188,912 |
| Insurance | $256,325 |
| All other expenses | $463,850 |
| Total functional expenses | $15,410,890 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,370 |
| Savings and temporary cash investments | $3,337,329 |
| Pledges and grants receivable | $1,055,531 |
| Accounts receivable, net | $57,541 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $103,438 |
| Inventories for sale or use | $272,109 |
| Prepaid expenses and deferred charges | $386,755 |
| Net Land, buildings, and equipment | $20,103,443 |
| Investments—publicly traded securities | $10,492,903 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $520,599 |
| Total assets | $36,335,018 |
| Accounts payable and accrued expenses | $782,163 |
| Grants payable | $0 |
| Deferred revenue | $1,681,350 |
| 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 | $3,382,232 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $353,710 |
| Total liabilities | $6,199,455 |
| Net assets without donor restrictions | $18,564,799 |
| Net assets with donor restrictions | $11,570,764 |
| 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 | $36,335,018 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Randolph Macon Academy has recieved totaling $2,000.
| Awarding Organization | Amount |
|---|---|
R Edwin And Winsome S Brown Foundation Barnesville, MD PURPOSE: SCHOLARSHIP | $2,000 |
Endowment Analysis
| Beg. Balance | $12,557,084 |
| Earnings | -$1,739,870 |
| Net Contributions | $110,371 |
| Other Expense | $97,820 |
| Grants | $450,857 |
| Ending Balance | $10,378,908 |
Peer Organizations
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|---|---|---|
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The Baylor School Chattanooga, TN | $270,105,763 | $47,683,171 |
Gilman School Inc Baltimore, MD | $238,892,271 | $38,036,593 |
Woodberry Forest School Woodberry Forest, VA | $643,383,708 | $54,060,513 |
Holton-Arms School Inc Bethesda, MD | $133,918,121 | $38,119,997 |
University Of Nashville Montgomery Bell Academy Nashville, TN | $303,405,415 | $41,667,135 |
St Andrews Episcopal School Inc Potomac, MD | $83,174,031 | $30,817,454 |
Severn School Inc Severna Park, MD | $70,000,569 | $28,689,233 |
Cary Academy Cary, NC | $92,134,722 | $26,213,526 |
Battle Ground Academy Of Franklin Tennessee Franklin, TN | $62,773,782 | $25,765,415 |
National Association Of Secondary -School Principals Reston, VA | $56,104,392 | $28,736,000 |
Asheville School Incorporated Asheville, NC | $109,072,100 | $30,624,972 |