Hargrave Military Academy
- Assets
- $25.6m
- Revenue
- $9.8m
- Investments
- $0.0
- Employees
- 129
- Location
- Chatham, VA
- Founding
- 02/2003
- Data as of
- 05/2022
- EIN
- 54-0584800
Organization Overview
Hargrave Military Academy is located in Chatham, VA. The organization was established in 2003. 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 05/2022, Hargrave Military Academy employed 129 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hargrave Military 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 05/2022, Hargrave Military Academy generated $9.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $10.3m during the year ending 05/2022. While expenses have increased by 0.1% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PRIVATE SCHOOL
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRIVATE ACADEMY PROVIDING EDUCATION TO STUDENTS IN A CAMPUS SETTING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Riddle Director Of | Officer | 40 | $83,277 |
Robert Bartenstein Vice Chairma | OfficerTrustee | 5 | $0 |
Ben J Davenport Chairman Of | OfficerTrustee | 10 | $0 |
Jack C Pattisall Secretary | OfficerTrustee | 5 | $0 |
Sloan Gibson President | Officer | 40 | $0 |
Maxine Alexis Trustee | 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 | $4,746,345 |
| Noncash contributions included in lines 1a–1f | $1,887 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,746,345 |
| Total Program Service Revenue | $5,492,827 |
| Investment income | $85,579 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$123,774 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $2,774 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,809,974 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,803,479 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $83,277 |
| Compensation of current officers, directors, key employees. | $83,277 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,092,518 |
| Pension plan accruals and contributions | $37,060 |
| Other employee benefits | $337,548 |
| Payroll taxes | $242,659 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $521 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $874,717 |
| Insurance | $0 |
| All other expenses | $158,421 |
| Total functional expenses | $10,300,698 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $857,256 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,258,073 |
| Accounts receivable, net | $183,459 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $323,980 |
| Prepaid expenses and deferred charges | $244,076 |
| Net Land, buildings, and equipment | $14,336,134 |
| Investments—publicly traded securities | $6,895,724 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $490,284 |
| Total assets | $25,588,986 |
| Accounts payable and accrued expenses | $446,224 |
| Grants payable | $0 |
| Deferred revenue | $395,255 |
| 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 | $71,064 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $53,536 |
| Total liabilities | $966,079 |
| Net assets without donor restrictions | $10,055,353 |
| Net assets with donor restrictions | $14,567,554 |
| 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 | $25,588,986 |
Grants Recieved
Over the last fiscal year, we have identified 14 grants that Hargrave Military Academy has recieved totaling $1,417,099.
| Awarding Organization | Amount |
|---|---|
E Stuart James Grant Charitable Tr Danville, VA PURPOSE: $750,000 COMPREHENSIVE CAMPAIGN (4TH YEAR OF A 5 YEAR PLEDGE); $100,000 UNRESTRICTED SUPPORT | $850,000 |
Winston-Salem Foundation Winstonsalem, NC PURPOSE: 2 GRANT(S) FOR VARYING PURPOSES | $251,000 |
E Stuart James Grant Charitable Tr Danville, VA PURPOSE: UNRESTRICTED SUPPORT | $100,000 |
Charles B Keesee Educational Fund Incorporated Martinsville, VA PURPOSE: STUDENT GRANTS FOR TUITION, BOOKS, FEES, ETC. | $100,000 |
A E Finley Foundation Inc Raleigh, NC PURPOSE: OPERATING SUPPORT | $83,285 |
The Montgomery Family Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $20,000 |
Endowment Analysis
| Beg. Balance | $5,967,692 |
| Earnings | -$89,553 |
| Net Contributions | $1,232,375 |
| Other Expense | $201,548 |
| Ending Balance | $6,908,966 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Protestant Episcopal High School In Virginia Alexandria, VA | $560,084,637 | $67,951,795 |
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 |