Gould Academy
- Assets
- $51.8m
- Revenue
- $16.7m
- Investments
- $0.0
- Employees
- 151
- Location
- Bethel, ME
- Founding
- 10/1942
- Data as of
- 06/2021
- EIN
- 01-0211509
Organization Overview
Gould Academy is located in Bethel, ME. The organization was established in 1942. 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 06/2021, Gould Academy employed 151 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gould 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, Gould Academy generated $16.7m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $16.4m 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
GOULD ACADEMY PREPARES ACADEMICALLY MOTIVATED STUDENTS FOR COLLEGE AND HELPS THEM TO BECOME INDEPENDENT-MINDED, ETHICAL CITIZENS WHO WILL LEAD LIVES OF PURPOSE, ACTION, EXCELLENCE, AND COMPASSION IN A DYNAMIC WORLD. THE SCHOOL SERVES APPROXIMATELY 210 BOARDING AND DAY STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TAUGHT AND EDUCATED ONE STUDENT AT A TIME THROUGH STRONG STUDENT-FACULTY RELATIONSHIPS THAT REFLECT A DEEP KNOWLEDGE OF EACH STUDENT AS AN INDIVIDUAL AND THAT FOSTER SOUND WORK HABITS, A STRONG SENSE OF SELF CONFIDENCE, TEAMWORK, AND LEADERSHIP SKILLS, AND PRINCIPLED DECISION MAKING. ENSURED THAT GOULD STUDENTS BENEFITED FROM EDUCATION OF THE WHOLE PERSON THROUGH RICH AND CHALLENGING, YET SUPPORTIVE, ACADEMIC, CO-CURRICULAR, AND COMMUNITY LIFE PROGRAMS THAT PROMOTE DEVELOPMENT ACROSS ALL DOMAINS OF PERSONAL GROWTH. HELPED STUDENTS EXPLORE THE WHOLE WORLD THROUGH ACADEMIC ENGAGEMENT WITH MAJOR GLOBAL THEMES, IMMERSION OF DIVERSE CULTURES, MEANINGFUL EXPERIENCE IN THE NATURAL WORLD, AND DIRECT INVOLVEMENT IN INITIATIVES THAT PROMOTE ECOSYSTEM AND ENERGY SUSTAINABILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris Sparks Asst. H.o.s. | 50 | $135,128 | |
Brad Clarke Asst. H.o.s. | 50 | $121,200 | |
Tao Smith Head Of Scho | Officer | 50 | $118,337 |
David F Willis Jr CFO | Officer | 50 | $67,500 |
Phyllis Gardiner President | OfficerTrustee | 1 | $0 |
Sarah S Taymore Vice Preside | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aladdin Food Mgmt Services Food Service | 6/29/20 | $793,792 |
Mechanical Services Inc Engineering | 6/29/20 | $112,719 |
Aladdin Food Mgmt Services Food Service | 6/29/20 | $793,792 |
Mechanical Services Inc Engineering | 6/29/20 | $112,719 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,348,205 |
| All other contributions, gifts, grants, and similar amounts not included above | $745,322 |
| Noncash contributions included in lines 1a–1f | $47,982 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,093,527 |
| Total Program Service Revenue | $14,132,218 |
| Investment income | $483,372 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $22,714 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $16,033 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,747,864 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $4,349,402 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $511,219 |
| Compensation of current officers, directors, key employees. | $408,975 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,074,994 |
| Pension plan accruals and contributions | $217,137 |
| Other employee benefits | $1,080,465 |
| Payroll taxes | $394,917 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $31,292 |
| Fees for services: Accounting | $23,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,885 |
| Fees for services: Other | $171,186 |
| Advertising and promotion | $74,448 |
| Office expenses | $95,970 |
| Information technology | $198,157 |
| Royalties | $0 |
| Occupancy | $855,919 |
| Travel | $9,600 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,718 |
| Interest | $153,012 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $966,111 |
| Insurance | $217,860 |
| All other expenses | $282,184 |
| Total functional expenses | $16,440,327 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $722,861 |
| Savings and temporary cash investments | $1,868,219 |
| Pledges and grants receivable | $1,004,481 |
| Accounts receivable, net | $156,340 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $28,861 |
| Inventories for sale or use | $84,130 |
| Prepaid expenses and deferred charges | $34,385 |
| Net Land, buildings, and equipment | $16,641,603 |
| Investments—publicly traded securities | $30,037,863 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,223,723 |
| Total assets | $51,802,466 |
| Accounts payable and accrued expenses | $628,011 |
| Grants payable | $0 |
| Deferred revenue | $2,409,582 |
| Tax-exempt bond liabilities | $3,095,598 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $723,140 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $534,973 |
| Total liabilities | $7,391,304 |
| Net assets without donor restrictions | $18,807,868 |
| Net assets with donor restrictions | $25,603,294 |
| 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 | $51,802,466 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Gould Academy has recieved totaling $250,000.
| Awarding Organization | Amount |
|---|---|
Trust Ud W Bingham Ii 207751 Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $250,000 |
Endowment Analysis
| Beg. Balance | $19,795,637 |
| Earnings | $7,127,618 |
| Net Contributions | $20,700 |
| Other Expense | $769,883 |
| Ending Balance | $26,153,372 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Proctor Academy Andover, NH | $88,196,091 | $31,542,996 |
Trustees Of Thornton Academy Saco, ME | $58,151,503 | $34,768,961 |
Brewster Academy Wolfeboro, NH | $85,558,593 | $32,925,691 |
Holderness School Plymouth, NH | $142,642,933 | $29,127,252 |
New Hampton School New Hampton, NH | $98,204,733 | $28,171,806 |
Kimball Union Academy Meriden, NH | $123,763,402 | $26,647,402 |
Derryfield School Manchester, NH | $44,949,554 | $20,323,202 |
Tilton School Tilton, NH | $51,782,047 | $28,426,192 |
Gould Academy Bethel, ME | $51,802,466 | $16,747,864 |
Kents Hill School Kents Hill, ME | $53,732,644 | $12,333,982 |
The Trustees Of Fryeburg Academy Fryeburg, ME | $79,323,577 | $20,722,502 |
Coe-Brown Northwood Academy Northwood, NH | $14,207,279 | $13,826,653 |