Athens Academy Inc
- Assets
- $62.6m
- Revenue
- $19.6m
- Investments
- $0.0
- Employees
- 312
- Location
- Athens, GA
- Founding
- 12/1966
- Data as of
- 07/2022
- EIN
- 58-6055242
Organization Overview
Athens Academy Inc is located in Athens, GA. The organization was established in 1966. 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 07/2022, Athens Academy Inc employed 312 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Athens 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 07/2022, Athens Academy Inc generated $19.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $20.3m during the year ending 07/2022. While expenses have increased by 2.9% 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
ATHENS ACADEMY (THE SCHOOL) SEEKS EXCELLENCE WITH HONOR IN ALL ITS PURSUITS. ATHENS ACADEMY IS A COEDUCATIONAL, INDEPENDENT, COLLEGE PREPARATORY DAY SCHOOL THAT OFFERS A TRADITIONAL LIBERAL ARTS CURRICULUM AND INNOVATIVE APPROACHES TO TEACHING AND LEARNING. THE SCHOOL SEEKS STUDENTS FROM DIVERSE
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING A QUALITY EDUCATION TO THE STUDENTS ATTENDING THE ACADEMY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Thorsen Head Of School | Officer | 40 | $326,988 |
J Robert Chambers Former Head Of School | 0 | $38,000 | |
Carl Nichols Chairman | Trustee | 1 | $0 |
Bill Trigleth Vice Chairman | Trustee | 1 | $0 |
Frank Sinkwich III Secretary | Trustee | 1 | $0 |
Sunil Alexander Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hogan Construction Group Construction | 7/30/22 | $385,039 |
Anthem Health Insurance | 7/30/22 | $1,603,339 |
Krg Food Service Group Inc Lunchroom Staff | 7/30/22 | $251,098 |
Southern Mechanical Hvac Contractors Hvac Maintenance | 7/30/22 | $226,913 |
Walton Emc Natural Gas & Electricity | 7/30/22 | $372,842 |
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 | $1,294,203 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,294,203 |
| Total Program Service Revenue | $18,639,621 |
| Investment income | -$1,236,688 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $219,009 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $64,412 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,563,519 |
| 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 | $9,574,102 |
| Pension plan accruals and contributions | $361,499 |
| Other employee benefits | $2,252,287 |
| Payroll taxes | $645,323 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,578 |
| Fees for services: Accounting | $90,873 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $36,000 |
| Fees for services: Other | $12,670 |
| Advertising and promotion | $0 |
| Office expenses | $9,087 |
| Information technology | $280,483 |
| Royalties | $0 |
| Occupancy | $459,101 |
| Travel | $5,566 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,041 |
| Interest | $187,798 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,621,061 |
| Insurance | $177,595 |
| All other expenses | $4,254,632 |
| Total functional expenses | $20,283,860 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,195,699 |
| Savings and temporary cash investments | $2,647,925 |
| Pledges and grants receivable | $732,136 |
| Accounts receivable, net | $209,545 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $12,902 |
| Inventories for sale or use | $212,490 |
| Prepaid expenses and deferred charges | $543,676 |
| Net Land, buildings, and equipment | $35,796,305 |
| Investments—publicly traded securities | $13,176,651 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $46,480 |
| Total assets | $62,573,809 |
| Accounts payable and accrued expenses | $3,144,100 |
| Grants payable | $0 |
| Deferred revenue | $9,665,523 |
| Tax-exempt bond liabilities | $5,921,243 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $351,078 |
| Unsecured mortgages and notes payable | $53,816 |
| Other liabilities | $0 |
| Total liabilities | $19,135,760 |
| Net assets without donor restrictions | $34,022,658 |
| Net assets with donor restrictions | $9,415,391 |
| 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 | $62,573,809 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Athens Academy Inc has recieved totaling $118,208.
| Awarding Organization | Amount |
|---|---|
Winston-Salem Foundation Winstonsalem, NC PURPOSE: 2 GRANT(S) FOR VARYING PURPOSES | $60,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $45,000 |
Thomas Mckey Tillman Foundation Inc Athens, GA PURPOSE: ENDOWMENT FUND FOR FACULTY COMPENSATION. | $5,000 |
Lonnie L Michael Foundation Athens, GA PURPOSE: TO PROVIDE SCHOLARSHIPS | $3,467 |
Monty W & Susan S Rogers Foundation Inc Milton, GA PURPOSE: UNRESTRICTED CONTRIBUTION | $2,000 |
Robert Winthrop Ii Foundation Of Athens Ga 100200 Athens, GA PURPOSE: CONTRIBUTION FOR GENERAL PURPOSE | $1,000 |
Endowment Analysis
| Beg. Balance | $12,925,447 |
| Earnings | -$1,029,372 |
| Admin Expense | $35,810 |
| Net Contributions | $596,478 |
| Ending Balance | $12,456,743 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bolles School Jacksonville, FL | $131,930,396 | $55,866,326 |
Providence Day School Charlotte, NC | $110,524,658 | $50,140,053 |
Miami Country Day School Inc Miami, FL | $132,305,093 | $52,562,056 |
Charlotte Latin Schools Inc Charlotte, NC | $136,686,590 | $47,461,290 |
Greater Atlanta Christian Schools Inc Norcross, GA | $104,910,212 | $44,897,863 |
Pace Academy Inc Atlanta, GA | $185,935,585 | $47,968,638 |
Ravenscroft School Inc Raleigh, NC | $81,090,288 | $36,426,897 |
Durham Academy Inc Durham, NC | $115,235,784 | $38,768,231 |
Purpose Built Schools Atlanta Inc Atlanta, GA | $15,990,097 | $34,651,857 |
Wesleyan School Inc Peachtree Corners, GA | $136,567,654 | $38,199,935 |
Paideia School Incorporated Atlanta, GA | $78,987,802 | $31,795,237 |
Benjamin Private School Inc North Palm Beach, FL | $92,959,329 | $35,673,109 |