Albuquerque Academy
- Assets
- $165.8m
- Revenue
- $34.2m
- Investments
- $24.0m
- Employees
- 708
- Location
- Albuquerque, NM
- Founding
- 11/1972
- Data as of
- 06/2021
- EIN
- 85-0129165
Organization Overview
Albuquerque Academy is located in Albuquerque, NM. The organization was established in 1972. 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, Albuquerque Academy employed 708 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Albuquerque 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 06/2021, Albuquerque Academy generated $34.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $32.2m during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
ALBUQUERQUE ACADEMY IS A NON-DENOMINATIONAL, COEDUCATIONAL, INDEPENDENT DAY SCHOOL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALBUQUERQUE ACADEMY IS A NATIONALLY-RECOGNIZED INDEPENDENT, COLLEGE PREPARATORY DAY SCHOOL THAT SERVES A DIVERSE STUDENT BODY IN GRADES SIX THROUGH TWELVE. THE SCHOOL OFFERS EDUCATIONAL PROGRAMS THAT PROMOTE A PASSION FOR LIFELONG LEARNING, FOSTER CREATIVITY AND CONNECTION, AND ENCOURAGE COMMUNITY SERVICE. SEE SCHEDULE O.
CHARGER AQUATICS ("CAQ"):CAQ IS A COMPREHENSIVE, YEAR-ROUND AQUATICS PROGRAM THAT PROVIDES SWIMMERS IN THE GREATER ALBUQUERQUE AREA WITH OPPORTUNITIES TO LEARN, PARTICIPATE, AND COMPETE IN THE SCHOOL'S NATATORIUM AND IS OFFERED AS PART OF THE SCHOOL'S ONGOING COMMITMENT TO PROVIDE SERVICE AND OUTREACH TO THE COMMUNITY AT LARGE. CAQ OFFERS MEMBERSHIP IN USA-SANCTIONED CLUBS, INCLUDING USA SWIMMING AND US MASTERS SWIMMING, ALONG WITH A SELECTION OF NON-MEMBER AQUATICS CLASSES SUCH AS SWIM LESSONS AND LIFEGUARD CERTIFICATION. TOTAL ENROLLMENT FOR ALL PROGRAMS WAS 273 FOR THE FISCAL YEAR ENDED JUNE 30, 2022.THE FINANCIAL RESULTS DIRECTLY BELOW REPRESENT CAQ AND ALL OTHER PROGRAM SERVICES EXPENSES AND REVENUES:
ALBUQUERQUE ACADEMY OFFERS A SIX WEEK SUMMER PROGRAM THAT PROVIDED EDUCATIONAL OPPORTUNITIES TO 1,098 STUDENTS DURING THE FISCAL YEAR ENDED JUNE 30, 2022. SEE SCHEDULE O.
ALBUQUERQUE ACADEMY HAS PARTNERED WITH SAGE DINING SERVICES TO PROVIDE FOOD SERVICE TO THE ON-CAMPUS DINING HALLS. SAGE FOCUSES ON SAFETY, QUALITY SERVICE, COMMUNITY, NUTRITION, EDUCATION, SUSTAINABILITY, AND DELICIOUS FOOD MADE FROM SCRATCH USING SEASONAL AND LOCALLY-SOURCED INGREDIENTS WHEN AVAILABLE. SEE SCHEDULE O.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Smidt III Chair | OfficerTrustee | 10 | $0 |
Chandler Todd General Trustee | Trustee | 3 | $0 |
Randy Talbot General Trustee | Trustee | 3 | $0 |
Valerie Romero-Leggott General Trustee | Trustee | 3 | $0 |
Erika Rimson General Trustee | Trustee | 3 | $0 |
Renee Patton General Trustee | Trustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sage Dining Services Inc Cafeteria And Food Services | 6/29/22 | $1,109,949 |
Robert Cohen Co Llc Running Track Installation | 6/29/22 | $1,092,164 |
Vip Starnetwork Llc Covid Testing | 6/29/22 | $454,975 |
Colt Electric Inc Electrical Work And Repairs | 6/29/22 | $312,733 |
Brace Builders Llc Office Remodeling | 6/29/22 | $230,719 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,321,767 |
| Investment income | $1,962,189 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $182,166 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $101,740 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $34,153,293 |
| Statement of Expenses | |
|---|---|
| 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. | $588,962 |
| Compensation to disqualified persons | $21,250 |
| Other salaries and wages | $16,112,878 |
| Pension plan accruals and contributions | $801,019 |
| Other employee benefits | $3,266,694 |
| Payroll taxes | $1,170,669 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $47,659 |
| Fees for services: Accounting | $115,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $485,116 |
| Fees for services: Other | $996,829 |
| Advertising and promotion | $152,561 |
| Office expenses | $759,626 |
| Information technology | $648,054 |
| Royalties | $0 |
| Occupancy | $1,057,165 |
| Travel | $129,719 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $124,939 |
| Interest | $1,594,353 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,366,619 |
| Insurance | $396,472 |
| All other expenses | $0 |
| Total functional expenses | $32,192,145 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $44,110 |
| Savings and temporary cash investments | $6,421,467 |
| Pledges and grants receivable | $14,000 |
| Accounts receivable, net | $22,480,552 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,988 |
| Inventories for sale or use | $198,551 |
| Prepaid expenses and deferred charges | $262,850 |
| Investments—publicly traded securities | $30,901,746 |
| Investments—other securities | $24,038,542 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $51,359,466 |
| Total assets | $165,817,111 |
| Accounts payable and accrued expenses | $1,923,628 |
| Grants payable | $0 |
| Deferred revenue | $23,634,382 |
| Tax-exempt bond liabilities | $38,782,363 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,501,131 |
| Unsecured mortgages and notes payable | $2,000,000 |
| Other liabilities | $1,433,023 |
| Total liabilities | $71,274,527 |
| 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 | $94,542,584 |