Hargrave Military Academy
- Assets
- $22.9m
- Revenue
- $11.1m
- Investments
- $0.0
- Employees
- 148
- Location
- Chatham, VA
- Founding
- 02/2003
- Data as of
- 05/2024
- 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 05/2024, Hargrave Military Academy employed 148 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 05/2024, Hargrave Military Academy generated $11.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $12.3m during the year ending 05/2024. While expenses have increased by 2.0% per year over the past 9 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
2024
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 |
|---|---|---|---|
Eric Peterson President | Officer | 40 | $244,211 |
William Riddle Director Of | Officer | 40 | $86,330 |
Randolph A Beales Trustee | Trustee | 5 | $0 |
Mike Beck Vice Chairma | OfficerTrustee | 10 | $0 |
Hayako O Cook Trustee | Trustee | 5 | $0 |
Jessica S Dalton Trustee | Trustee | 5 | $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 | $3,303,817 |
| Noncash contributions included in lines 1a–1f | $12,374 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,303,817 |
| Total Program Service Revenue | $6,672,369 |
| Investment income | $159,121 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $964,298 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $20,565 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,120,170 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,038,699 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $330,541 |
| Compensation of current officers, directors, key employees. | $330,541 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,705,447 |
| Pension plan accruals and contributions | $27,788 |
| Other employee benefits | $372,574 |
| Payroll taxes | $297,474 |
| 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 | $10 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $881,981 |
| Insurance | $0 |
| All other expenses | $93,946 |
| Total functional expenses | $12,289,614 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $658,991 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,811,357 |
| Accounts receivable, net | $203,539 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $503,831 |
| Prepaid expenses and deferred charges | $172,626 |
| Net Land, buildings, and equipment | $13,216,831 |
| Investments—publicly traded securities | $5,802,188 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $499,864 |
| Total assets | $22,869,227 |
| Accounts payable and accrued expenses | $389,053 |
| Grants payable | $0 |
| Deferred revenue | $600,876 |
| 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 | $1,031,780 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $79,713 |
| Total liabilities | $2,101,422 |
| Net assets without donor restrictions | $7,605,299 |
| Net assets with donor restrictions | $13,162,506 |
| 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 | $22,869,227 |