Beaufort Academy Inc
- Assets
- $5.1m
- Revenue
- $5.2m
- Investments
- $374.4k
- Employees
- 93
- Location
- Beaufort, SC
- Founding
- 11/1976
- Data as of
- 06/2021
- EIN
- 57-0474292
Organization Overview
Beaufort Academy Inc is located in Beaufort, SC. The organization was established in 1976. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2021, Beaufort Academy Inc employed 93 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Beaufort Academy Inc 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 06/2021, Beaufort Academy Inc generated $5.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $5.0m during the year ending 06/2021. While expenses have increased by 6.5% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ACADEMY IS A PRIVATE COEDUCATIONAL INDEPENDENT COLLEGE PREPARATORY SCHOOL WITH PRE-KINDERGARTEN THROUGH TWELFTH GRADE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL INSTITUTION PROVIDING EDUCATIONAL SERVICE TO GENERALPUBLIC FOR A FEE, GRADES K-2 THROUGH 12 (APPROX. 342 STUDENTS)INCLUDING MUSIC, ART, ATHLETICS & COMPUTERS.
EDUCATIONAL INSTITUTION PROVIDING EDUCATIONAL SERVICE TO GENERALPUBLIC FOR A FEE, GRADES K-2 THROUGH 12 (APPROX. 342 STUDENTS)INCLUDING MUSIC, ART, ATHLETICS & COMPUTERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dan Durbin Head Of School | Officer | 40 | $95,833 |
Courtney Worrell Secretary | OfficerTrustee | 2 | $0 |
Phillip Lynn Treasurer | OfficerTrustee | 2 | $0 |
Mary Lohr Vice-President | OfficerTrustee | 2 | $0 |
Katie Huebel President | OfficerTrustee | 2 | $0 |
Cecil Mitchell Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $22,100 |
| All other contributions, gifts, grants, and similar amounts not included above | $146,913 |
| Noncash contributions included in lines 1a–1f | $221 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $146,913 |
| Total Program Service Revenue | $4,354,845 |
| Investment income | $1,237 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $4,965 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $65,961 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,231,708 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,466,505 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $95,833 |
| Compensation of current officers, directors, key employees. | $95,833 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,777,734 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $423,063 |
| Payroll taxes | $148,763 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,223 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,041 |
| Office expenses | $45,660 |
| Information technology | $29,516 |
| Royalties | $0 |
| Occupancy | $74,257 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $57,061 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $141,503 |
| Insurance | $79,314 |
| All other expenses | $59,491 |
| Total functional expenses | $4,971,347 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $802,860 |
| Savings and temporary cash investments | $132,602 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $625,596 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $15,173 |
| Prepaid expenses and deferred charges | $28,013 |
| Net Land, buildings, and equipment | $3,037,869 |
| Investments—publicly traded securities | $1,097 |
| Investments—other securities | $374,416 |
| Investments—program-related | $0 |
| Intangible assets | $7,320 |
| Other assets | $86,774 |
| Total assets | $5,111,720 |
| Accounts payable and accrued expenses | $113,276 |
| Grants payable | $0 |
| Deferred revenue | $1,467,181 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $885,095 |
| Secured mortgages and notes payable | $1,574,408 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $59,309 |
| Total liabilities | $4,099,269 |
| Net assets without donor restrictions | $638,035 |
| Net assets with donor restrictions | $374,416 |
| 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 | $5,111,720 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Beaufort Academy Inc has recieved totaling $50,388.
| Awarding Organization | Amount |
|---|---|
Weld Foundation Boston, MA PURPOSE: GENERAL | $50,000 |
The Duke Energy Foundation Charlotte, NC PURPOSE: MATCHING GIFTS | $230 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $158 |
Endowment Analysis
| Beg. Balance | $277,671 |
| Earnings | $96,745 |
| Ending Balance | $374,416 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ashley Hall Foundation Charleston, SC | $53,552,404 | $18,962,378 |
Heathwood Hall Episcopal School Columbia, SC | $39,181,921 | $20,445,816 |
Brookstone School Inc Columbus, GA | $71,035,506 | $24,481,396 |
Greenville Renewable Energy Education Charter School Greenville, SC | $26,163,515 | $17,750,984 |
Lincoln Charter School Inc Denver, NC | $10,014,512 | $18,722,799 |
Savannah Christian Preparatory School Inc Savannah, GA | $28,769,990 | $18,697,901 |
Strong Rock Christian School Inc Locust Grove, GA | $18,179,980 | $18,285,975 |
Fellowship Christian School Inc Roswell, GA | $48,536,188 | $18,034,878 |
Dubois Integrity Academy Inc Riverdale, GA | $36,435,666 | $18,797,787 |
St Francis Day School Inc Roswell, GA | $35,555,718 | $15,564,442 |
Providence Christian Academy Inc Lilburn, GA | $23,088,680 | $16,091,514 |
Carolina Friends School Durham, NC | $47,718,399 | $15,676,975 |