Chelsea Academy Foundation Inc
- Assets
- $6.6m
- Revenue
- $391.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Front Royal, VA
- Founding
- Data as of
- 08/2022
- EIN
- 82-2997018
Organization Overview
Chelsea Academy Foundation Inc is located in Front Royal, VA. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chelsea Academy Foundation 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 08/2022, Chelsea Academy Foundation Inc generated $391.0k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 7.8% each year. All expenses for the organization totaled $257.1k during the year ending 08/2022. 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
OPERATES EXCLUSIVELY AS A SUPPORTING ORGANIZATION OF CHELSEA ACADEMY, INC. (FEIN 20-8995583)
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATES EXCLUSIVELY AS A SUPPORTING ORGANIZATION OF CHELSEA ACADEMY, INC. (FEIN20-8995583)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Lagarde Treasurer | OfficerTrustee | 1 | $0 |
J Douglas Mccarthy Chairman | OfficerTrustee | 2 | $0 |
Dyric Snyder Secretary | OfficerTrustee | 1 | $0 |
Thomas Lagarde Vice Chair | OfficerTrustee | 1 | $0 |
Alfred Regnery Director | Trustee | 1 | $0 |
Rev Daniel Gee Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $314,108 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,726 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $323,834 |
| Total Program Service Revenue | $0 |
| Investment income | $4,271 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $54,231 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $8,692 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $391,028 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $745 |
| 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 | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $42,224 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $29,056 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $257,091 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $29,315 |
| Savings and temporary cash investments | $863,327 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $500 |
| 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 | $0 |
| Net Land, buildings, and equipment | $5,709,944 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $21,458 |
| Total assets | $6,624,544 |
| Accounts payable and accrued expenses | $19,068 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $5,351,221 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $505,328 |
| Total liabilities | $5,875,617 |
| Net assets without donor restrictions | $725,701 |
| Net assets with donor restrictions | $23,226 |
| 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 | $6,624,544 |
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|---|---|---|
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University Of Louisville Foundation Inc Louisville, KY | $1,075,988,166 | $43,496,002 |
Old Dominion University Research Foundation Norfolk, VA | $35,170,684 | $51,598,508 |
University Of Virginia Darden School Foundation Charlottesville, VA | $664,692,543 | $80,428,705 |
Unc Health Foundation Inc Chapel Hill, NC | $571,825,040 | $92,147,897 |
William & Mary Foundation Williamsburg, VA | $1,122,551,962 | $79,373,462 |
University Of Virginia Foundation Charlottesville, VA | $508,958,321 | $36,530,024 |
North Carolina State University Foundation Inc Raleigh, NC | $679,121,022 | $52,520,062 |
University Health Services Inc Richmond, VA | $34,736,696 | $16,366,834 |
Medical College Of Virginia Foundation Richmond, VA | $645,911,510 | $54,318,573 |