Cumberland Academy
- Assets
- $91.8m
- Revenue
- $22.8m
- Investments
- $0.0
- Employees
- 430
- Location
- Tyler, TX
- Founding
- 02/1997
- Data as of
- 08/2022
- EIN
- 75-2651114
Organization Overview
Cumberland Academy is located in Tyler, TX. The organization was established in 1997. According to its NTEE Classification (B02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Education and related organizations. As of 08/2022, Cumberland Academy employed 430 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cumberland Academy 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 08/2022, Cumberland Academy generated $22.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.1% each year . All expenses for the organization totaled $22.7m during the year ending 08/2022. While expenses have increased by 13.4% 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 PROVIDE A SUPERIOR ACADEMIC PROGRAM ENHANCED BY TRAINING IN PERFORMING ARTS AND A TECHNOLOGICALLY ADVANCED CURRICULUM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE ACADEMIC EDUCATION FOR APPROXIMATELY 1,768 STUDENTS FOR PK THROUGH 12TH GRADE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr James Cotton Board President | Trustee | 1 | $0 |
Vance Hendrix Vice President | Trustee | 1 | $0 |
Mary Irwin Secretary | Trustee | 1 | $0 |
Bill Morales Board Member | Trustee | 1 | $0 |
Frank Ward Board Member | Trustee | 1 | $0 |
Charles Moore Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Region 7 Education Service Center Professional Services | 8/30/22 | $107,621 |
Labatt Food Service Food Service | 8/30/22 | $278,961 |
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 | $250,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $250,000 |
| Total Program Service Revenue | $22,213,584 |
| Investment income | $69,651 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $242,470 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $22,775,705 |
| 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. | $225,732 |
| Compensation of current officers, directors, key employees. | $225,732 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,722,295 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $836,764 |
| Payroll taxes | $265,929 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $91,272 |
| Fees for services: Accounting | $69,907 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $347,315 |
| Travel | $130,462 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,501,381 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,475,815 |
| Insurance | $263,544 |
| All other expenses | $920,596 |
| Total functional expenses | $22,654,759 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,437,238 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,045,203 |
| 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 | $42,507 |
| Net Land, buildings, and equipment | $72,745,024 |
| Investments—publicly traded securities | $7,567,240 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $91,837,212 |
| Accounts payable and accrued expenses | $1,552,736 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $74,864,385 |
| 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 | $360,967 |
| Total liabilities | $76,778,088 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $15,059,124 |
| 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 | $91,837,212 |