Admiral Farragut Academy Inc
- Assets
- $22.0m
- Revenue
- $17.6m
- Investments
- $0.0
- Employees
- 151
- Location
- St Petersburg, FL
- Founding
- 06/1991
- Data as of
- 06/2020
- EIN
- 59-3038365
Organization Overview
Admiral Farragut Academy Inc is located in St Petersburg, FL. The organization was established in 1991. 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 06/2022, Admiral Farragut Academy Inc employed 151 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Admiral Farragut 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 06/2020, Admiral Farragut Academy Inc generated $17.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $16.9m during the year ending 06/2020. While expenses have increased by 2.4% 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE A COLLLEGE PREPARATORY ENVIRONMENT THAT PROMOTS ACADEMIC EXCELLENCE, LEADERSHIP SKILLS, AND SOCIAL DEVELOPMENT WITHIN A DIVERSE COMMUNITY OF YOUNG MEN AND WOMEN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATE STUDENTS GRADES KINDERGARTEN THROUGH 12 AND PREPARE THEM FOR A HIGHER LEVEL OF EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Adam Holden Headmaster F | Officer | 39 | $204,020 |
E Garret Gummer Secretary | OfficerTrustee | 1 | $0 |
George Kinemond Treasurer | OfficerTrustee | 1 | $0 |
Brian Miles Vice Chairma | OfficerTrustee | 1 | $0 |
Ashley Patterson Chairman | OfficerTrustee | 1 | $0 |
Andy Aldi Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Gilbane Building Company Construction | 6/29/19 | $5,737,472 |
Contract Cleaning Specialists Janitorial Service | 6/29/19 | $143,284 |
Wrd Construction Consultants Construction | 6/29/19 | $119,596 |
Sage Dining Services Inc Food Services | 6/29/19 | $982,690 |
Critical Intervention Services Protective Service | 6/29/19 | $183,778 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,841,145 |
| Investment income | $21,766 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$88,126 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$2,663 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $82,762 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,628,245 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $4,499,445 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $245,155 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,215,255 |
| Pension plan accruals and contributions | $185,552 |
| Other employee benefits | $330,330 |
| Payroll taxes | $470,466 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,103 |
| Fees for services: Accounting | $39,580 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $5,237 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $318,466 |
| Advertising and promotion | $96,219 |
| Office expenses | $134,639 |
| Information technology | $33,058 |
| Royalties | $0 |
| Occupancy | $767,919 |
| Travel | $155,472 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $16,968 |
| Interest | $386,031 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $586,797 |
| Insurance | $431,784 |
| All other expenses | $0 |
| Total functional expenses | $16,948,455 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,605,775 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $838,973 |
| Accounts receivable, net | $148,701 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $148,911 |
| Prepaid expenses and deferred charges | $28,690 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,895,907 |
| Total assets | $21,987,210 |
| Accounts payable and accrued expenses | $341,632 |
| Grants payable | $0 |
| Deferred revenue | $3,576,408 |
| Tax-exempt bond liabilities | $11,419,985 |
| 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 | $2,369,142 |
| Total liabilities | $17,707,167 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $4,280,043 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Admiral Farragut Academy Inc has recieved totaling $87,508.
| Awarding Organization | Amount |
|---|---|
Slomo And Cindy Silvian Foundation Inc Melville, NY PURPOSE: EDUCATION | $35,000 |
Ayco Charitable Foundation Cohoes, NY PURPOSE: EDUCATION | $10,000 |
Community Foundation Of New Jersey Morristown, NJ PURPOSE: GENERAL SUPPORT | $10,000 |
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: GROWTH | $9,000 |
Newday Usa Foundation Inc Fulton, MD PURPOSE: SCHOLARSHIPS | $7,500 |
Damkoehler Family Foundation Gulfport, FL PURPOSE: EDUCATION | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
St Andrews School Of Boca Raton Inc Boca Raton, FL | $86,373,097 | $47,728,671 |
Lake Highland Preparatory School Inc Orlando, FL | $87,682,705 | $57,464,181 |
Montverde Academy Montverde, FL | $55,272,335 | $32,301,917 |
Rabun Gap-Nacoochee School Rabun Gap, GA | $105,001,665 | $32,375,355 |
Palmer Trinity Private School Inc Palmetto Bay, FL | $91,390,503 | $34,552,191 |
Episcopal School Of Jacksonville Inc Jacksonville, FL | $51,998,988 | $26,337,584 |
Belen Jesuit Preparatory School Inc Miami, FL | $43,846,695 | $27,791,869 |
Tallulah Falls School Inc Tallulah Falls, GA | $76,684,503 | $23,311,796 |
Whitefield Academy Inc Mableton, GA | $76,378,322 | $24,777,271 |
Riverside Military Academy Inc Gainesville, GA | $79,257,666 | $23,072,082 |
Tampa Preparatory School Inc Tampa, FL | $43,902,100 | $29,004,464 |
Admiral Farragut Academy Inc St Petersburg, FL | $21,987,210 | $17,628,245 |