Riverside Military Academy Inc
- Assets
- $71.2m
- Revenue
- $15.1m
- Investments
- $0.0
- Employees
- 190
- Location
- Gainesville, GA
- Founding
- 06/1941
- Data as of
- 05/2023
- EIN
- 58-0616994
Organization Overview
Riverside Military Academy Inc is located in Gainesville, GA. The organization was established in 1941. 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 05/2023, Riverside Military Academy Inc employed 190 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Riverside Military 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 05/2023, Riverside Military Academy Inc generated $15.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.7%) each year. All expenses for the organization totaled $22.4m during the year ending 05/2023. As we would expect to see with falling revenues, expenses have declined by (1.0%) per year over the past 7 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PREPARE ETHICAL YOUNG MEN OF CHARACTER FOR SUCCESS THROUGH ACADEMICS, LEADERSHIP, ATHLETICS, CO-CURRICULARS, AND THE STRUCTURE & DISCIPLINE OF A MILITARY COLLEGE PREP ENVIRONMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOCATED IN GAINESVILLE, GEORGIA, RIVERSIDE PREPARATORY ACADEMY IS A PRIVATE, BOARDING, PREPARATORY SCHOOL SERVING YOUNG MEN IN GRADES 6 THROUGH 12. RIVERSIDE PREP PROUDLY IMPLEMENTS A MILITARY MODEL OF EDUCATION, REFINED AND FOCUSED TO BRING OUT THE ABSOLUTE BEST IN STUDENTS AND TO DEVELOP SIMPLY GREAT MEN. THROUGH SIGNATURE PROGRAMS LIKE CYBER SECURITY AND AEROSPACE ENGINEERING, FINE ARTS PROGRAMS INCLUDING MUSIC AND VIDEO PRODUCTION, AND COMPETITIVE SPORTS AND OTHER TEAM-BUILDING ACTIVITIES, THE EXPERIENCE AT RIVERSIDE IS DESIGNED TO IDENTIFY THE VERY HEIGHT AND BREADTH OF POTENTIAL, CRAFT EXEMPLARY CHARACTER, AND PREPARE STUDENTS FOR A LIFETIME OF ... (CONTINUED ON SCHEDULE O)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stanley C Preczewski President | Officer | 53 | $321,704 |
Laura A Maxwell CFO | Officer | 53 | $208,171 |
Ellen G Defoor VP Of Advancement | Officer | 53 | $153,621 |
Robert B Daniel Executive VP | 53 | $148,426 | |
Cathy Davis Moore Academic Dean | 53 | $147,850 | |
Render Mitchell VP Of Enrollment Management | 53 | $115,884 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aramark Services Inc Dining Services | 5/30/23 | $1,178,071 |
Classic City Solutions Inc Custodial Services | 5/30/23 | $258,940 |
Russell Landscape Llc Landscape Services | 5/30/23 | $171,779 |
Ewdwardsco Private School Marketing Marketing Services | 5/30/23 | $151,324 |
Brohm Tek Technology Services Technology Services | 5/30/23 | $131,185 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $65,385 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,159,885 |
| Noncash contributions included in lines 1a–1f | $330,669 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,225,270 |
| Total Program Service Revenue | $12,216,369 |
| Investment income | $415,105 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $63,714 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $151,211 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,142,871 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,486,559 |
| Grants and other assistance to Foreign Orgs/Individuals | $156,140 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $751,780 |
| Compensation of current officers, directors, key employees. | $194,801 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,180,593 |
| Pension plan accruals and contributions | $241,818 |
| Other employee benefits | $592,114 |
| Payroll taxes | $568,697 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,776 |
| Fees for services: Accounting | $57,225 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $128,051 |
| Fees for services: Other | $864,319 |
| Advertising and promotion | $394,746 |
| Office expenses | $158,558 |
| Information technology | $128,927 |
| Royalties | $0 |
| Occupancy | $1,358,917 |
| Travel | $126,452 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,530,987 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,925,038 |
| Insurance | $496,099 |
| All other expenses | $482,488 |
| Total functional expenses | $22,437,051 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,049,698 |
| Savings and temporary cash investments | $3,275,933 |
| Pledges and grants receivable | $540,570 |
| Accounts receivable, net | $2,812,569 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $881,053 |
| Prepaid expenses and deferred charges | $595,305 |
| Net Land, buildings, and equipment | $46,478,095 |
| Investments—publicly traded securities | $15,568,003 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,036 |
| Total assets | $71,204,262 |
| Accounts payable and accrued expenses | $1,429,466 |
| Grants payable | $0 |
| Deferred revenue | $764,892 |
| Tax-exempt bond liabilities | $48,514,366 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,051,191 |
| Total liabilities | $51,759,915 |
| Net assets without donor restrictions | $12,972,231 |
| Net assets with donor restrictions | $6,472,116 |
| 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 | $71,204,262 |