Frederica Academy Inc
- Assets
- $26.2m
- Revenue
- $16.6m
- Investments
- $0.0
- Employees
- 144
- Location
- St Simons Island, GA
- Founding
- 09/1970
- Data as of
- 06/2022
- 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 06/2022, Frederica Academy Inc employed 144 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 06/2022, Frederica Academy Inc generated $16.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.4% each year . All expenses for the organization totaled $10.4m during the year ending 06/2022. While expenses have increased by 3.2% per year over the past 7 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
2022
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 450 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 |
|---|---|---|---|
Alfred Sams Board Of Trustees | Trustee | 1 | $0 |
Ann Mcglaughlin Secretary | OfficerTrustee | 1 | $0 |
Charlie Dorminy Board Of Trustees | Trustee | 1 | $0 |
Dana Carter Board Of Trustees | Trustee | 1 | $0 |
Deborah Wright Board Of Trustees | Trustee | 1 | $0 |
Greer Brown Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $277,012 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,822,116 |
| Noncash contributions included in lines 1a–1f | $402,212 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,099,128 |
| Total Program Service Revenue | $9,274,916 |
| Investment income | $270,799 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$21,386 |
| Net Income from Fundraising Events | $2,249 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,625,706 |
| 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. | $234,883 |
| Compensation of current officers, directors, key employees. | $82,209 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,111,674 |
| Pension plan accruals and contributions | $193,520 |
| Other employee benefits | $625,009 |
| Payroll taxes | $301,569 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $930 |
| Fees for services: Accounting | $36,822 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $10,979 |
| Fees for services: Other | $0 |
| Advertising and promotion | $62,818 |
| Office expenses | $0 |
| Information technology | $53,037 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $82,091 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $43,000 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $538,656 |
| Insurance | $188,270 |
| All other expenses | $1,382,747 |
| Total functional expenses | $10,414,159 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,976,498 |
| Savings and temporary cash investments | $1,076,797 |
| Pledges and grants receivable | $3,622,295 |
| Accounts receivable, net | $1,080,367 |
| 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 | $138,979 |
| Net Land, buildings, and equipment | $13,507,362 |
| Investments—publicly traded securities | $3,740,167 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $48,359 |
| Other assets | $0 |
| Total assets | $26,190,824 |
| Accounts payable and accrued expenses | $515,027 |
| Grants payable | $0 |
| Deferred revenue | $6,146,832 |
| 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 | $1,795,551 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $8,457,410 |
| Net assets without donor restrictions | $9,748,940 |
| Net assets with donor restrictions | $7,984,474 |
| 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 | $26,190,824 |