Oak Ridge Foundation Incorporated
- Assets
- $8.6m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 52
- Location
- Oak Ridge, NC
- Founding
- 05/1965
- Data as of
- 07/2021
- EIN
- 56-0847845
Organization Overview
Oak Ridge Foundation Incorporated, operating under the name Oak Ridge Military Academy, is located in Oak Ridge, NC. The organization was established in 1965. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 07/2021, Oak Ridge Military Academy employed 52 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Oak Ridge 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 07/2021, Oak Ridge Military Academy generated $2.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (3.3%) each year. All expenses for the organization totaled $3.4m during the year ending 07/2021. As we would expect to see with falling revenues, expenses have declined by (1.0%) per year over the past 5 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF OAK RIDGE MILITARY ACADEMY, A COLLEGE PREPARATORY SCHOOL, IS TO PROVIDE AN EDUCATIONAL ENVIRONMENT WHICH STIMULATES CURIOSITY, FOSTERS SCHOLARLY COMPETENCE, ENCOURAGES ACADEMIC EXCELLENCE, REWARDS SELF-DISCIPLINE, AND DEVELOPS LEADERSHIP POTENTIAL THROUGH STUDENT INVOLVEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OAK RIDGE MILITARY ACADEMY IS AN EDUCATIONAL INSTITUTION FOR GRADES 7-12. THE PROGRAMS FOCUS ON ACADEMIC CURRICULUM. AS PART OF THE ACADEMIC EXPERIENCE, THE ACADEMY OFFERS SUMMER ACADEMIC CAMP AND LEADERSHIP CAMP. ATHLETIC PROGRAMS AUGMENT THE ACADEMIC CURRICULUM AND ENHANCE STUDENT MORALE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ken Mcdaniel Chairman | OfficerTrustee | 1 | $0 |
Jim Savage Vice-Chairman | OfficerTrustee | 1 | $0 |
Douglas Smith Secretary | OfficerTrustee | 1 | $0 |
Forth Heffner Trustee | Trustee | 1 | $0 |
Kevin James Trustee | Trustee | 1 | $0 |
Jason Ralston Trustee | Trustee | 1 | $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 | $301,263 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $301,263 |
| Total Program Service Revenue | $2,385,978 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $36,832 |
| 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 | $2,927,708 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,533,862 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,701 |
| Payroll taxes | $109,270 |
| 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 | $926 |
| Advertising and promotion | $35,335 |
| Office expenses | $18,205 |
| Information technology | $0 |
| Royalties | $5,077 |
| Occupancy | $554,741 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $290,828 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $427,776 |
| Insurance | $40,349 |
| All other expenses | $71,235 |
| Total functional expenses | $3,388,248 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $563,859 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,297,373 |
| 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 | $69,734 |
| Net Land, buildings, and equipment | $5,660,588 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,591,554 |
| Accounts payable and accrued expenses | $1,540,196 |
| Grants payable | $0 |
| Deferred revenue | $1,953,490 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $4,926,874 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $268,784 |
| Total liabilities | $8,689,344 |
| Net assets without donor restrictions | -$187,275 |
| Net assets with donor restrictions | $89,485 |
| 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 | $8,591,554 |