Frederica Academy Inc
- Assets
- $20.2m
- Revenue
- $10.6m
- Investments
- $0.0
- Employees
- 154
- Location
- St Simons Island, GA
- Founding
- 09/1970
- Data as of
- 06/2021
- EIN
- 58-1093060
Organization Overview
Frederica Academy Inc is located in St Simons Island, GA. The organization was established in 1970. 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, Frederica Academy Inc employed 154 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Frederica 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, Frederica Academy Inc generated $10.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $9.8m during the year ending 06/2021. While expenses have increased by 2.8% 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
TO MAXIMIZE EACH STUDENT'S POTENTIAL AND PREPARE HIM/HER FOR COLLEGE AND ADULT LIFE THROUGH THE DEVELOPMENT OF MIND, BODY, AND SPIRIT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FREDERICA ACADEMY SERVES APPROXIMATELY 400 STUDENTS IN GRADES PK-12 EACH YEAR. FREDERICA ACADEMY'S COLLEGE PREPARATORY PROGRAM SERVES FAMILIES FROM GLYNN AND THE SURROUNDING COUNTIES AND IS THE ONLY INDEPENDENT SCHOOL BETWEEN JACKSONVILLE, FLORIDA AND SAVANNAH, GEORGIA. FREDERICA'S NEED-BASED FINANCIAL AID PROGRAM PROMOTES ETHNIC AND ECONOMIC DIVERSITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Hutchinson Head Of School | 40 | $245,500 | |
John Pope Employee | 40 | $112,793 | |
Ann Mcglaughlin Secretary | OfficerTrustee | 1 | $0 |
Greer Brown Chair | OfficerTrustee | 1 | $0 |
Jim Walker Treasurer | OfficerTrustee | 1 | $0 |
Kristi Harrison Vice Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $154,257 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,464,994 |
| Noncash contributions included in lines 1a–1f | $185,285 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,619,251 |
| Total Program Service Revenue | $8,839,772 |
| Investment income | $88,660 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $24,572 |
| Net Income from Fundraising Events | $51,366 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,623,621 |
| 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. | $245,500 |
| Compensation of current officers, directors, key employees. | $135,025 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,068,036 |
| Pension plan accruals and contributions | $195,025 |
| Other employee benefits | $565,390 |
| Payroll taxes | $307,997 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $27,067 |
| Fees for services: Accounting | $67,680 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $9,348 |
| Fees for services: Other | $0 |
| Advertising and promotion | $55,837 |
| Office expenses | $0 |
| Information technology | $66,012 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $74,120 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $44,815 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $515,923 |
| Insurance | $153,394 |
| All other expenses | $1,154,135 |
| Total functional expenses | $9,814,555 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,566,414 |
| Savings and temporary cash investments | $626,803 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $925,034 |
| 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 | $60,976 |
| Net Land, buildings, and equipment | $11,862,560 |
| Investments—publicly traded securities | $4,133,153 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $52,280 |
| Other assets | $0 |
| Total assets | $20,227,220 |
| Accounts payable and accrued expenses | $493,737 |
| Grants payable | $0 |
| Deferred revenue | $5,413,179 |
| 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 | $1,931,759 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $7,838,675 |
| Net assets without donor restrictions | $9,809,890 |
| Net assets with donor restrictions | $2,578,655 |
| 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 | $20,227,220 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Frederica Academy Inc has recieved totaling $5,500.
| Awarding Organization | Amount |
|---|---|
Benefield Foundation Saint Simons Island, GA PURPOSE: GENERAL SUPPORT | $5,500 |
Endowment Analysis
| Beg. Balance | $2,521,644 |
| Earnings | $506,809 |
| Net Contributions | $703,412 |
| Ending Balance | $3,731,865 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ashley Hall Foundation Charleston, SC | $53,552,404 | $18,962,378 |
Canterbury School Corporation Fort Myers, FL | $32,236,169 | $23,638,435 |
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 |
The Masters Academy Of Central Florida Inc Oviedo, FL | $26,482,967 | $18,246,673 |
Savannah Christian Preparatory School Inc Savannah, GA | $28,769,990 | $18,697,901 |
Saint Edwards School Vero Beach, FL | $54,149,022 | $17,250,987 |
Capstone Education Group Inc Memphis, TN | $24,521,664 | $20,250,688 |
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 |