Berwick Academy Trustees
- Assets
- $55.9m
- Revenue
- $29.6m
- Investments
- $0.0
- Employees
- 268
- Location
- South Berwick, ME
- Founding
- 12/1941
- Data as of
- 06/2022
- EIN
- 01-0223755
Organization Overview
Berwick Academy Trustees is located in South Berwick, ME. The organization was established in 1941. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Berwick Academy Trustees employed 268 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Berwick Academy Trustees 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 06/2022, Berwick Academy Trustees generated $29.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.3% each year. All expenses for the organization totaled $24.4m during the year ending 06/2022. While expenses have increased by 2.0% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
BERWICK ACADEMY, FOUNDED IN 1791, IS DEDICATED TO PROMOTING VIRTUE AND USEFUL KNOWLEDGE AMONG THE RISING GENERATIONS.
Describe the Organization's Program Activity:
INDEPENDENT COEDUCATIONAL COUNTRY DAY SCHOOL, PRE-K THROUGH POST GRADUATE, SERVING OVER 589 STUDENTS FROM THE SEACOAST AREA OF SOUTHERN MAINE, NEW HAMPSHIRE, AND NORTH SHORE MASSACHUSETTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barbara O'connor President | OfficerTrustee | 1 | $0 |
Paula Williamson-Reid Vice President | OfficerTrustee | 1 | $0 |
James Lawson Treasurer | OfficerTrustee | 1 | $0 |
Jason Kroll Secretary | OfficerTrustee | 1 | $0 |
Alice Bentley Trustee | Trustee | 1 | $0 |
Lesli Friel Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sage Dining Services Inc Food Service | 6/29/22 | $849,463 |
Blackbaud Inc Database Management | 6/29/22 | $142,090 |
C & J Bus Lines Student Bus Transportation | 6/29/22 | $189,010 |
Marshall Rental Supplies And Rentals | 6/29/22 | $110,316 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $2,350 |
| Related organizations | $0 |
| Government grants | $1,762,771 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,190,241 |
| Noncash contributions included in lines 1a–1f | $1,124,519 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,955,362 |
| Total Program Service Revenue | $23,829,027 |
| Investment income | $993,101 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $58,706 |
| Net Gain/Loss on Asset Sales | -$180,583 |
| Net Income from Fundraising Events | -$1,446 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$12,674 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $29,641,493 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $6,514,844 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $589,359 |
| Compensation of current officers, directors, key employees. | $226,750 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,874,245 |
| Pension plan accruals and contributions | $626,963 |
| Other employee benefits | $1,876,674 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $37,547 |
| Fees for services: Accounting | $51,699 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $46,286 |
| Fees for services: Other | $136,622 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $922,729 |
| Travel | $47,121 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $247,680 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,118,393 |
| Insurance | $0 |
| All other expenses | $616,945 |
| Total functional expenses | $24,447,114 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,479,449 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $3,192,740 |
| Accounts receivable, net | $2,048,509 |
| Loans from Officers, Directors, or Controlling Persons | $128,288 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $36,391 |
| Prepaid expenses and deferred charges | $425,962 |
| Net Land, buildings, and equipment | $18,578,342 |
| Investments—publicly traded securities | $27,185,879 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $787,600 |
| Total assets | $55,863,160 |
| Accounts payable and accrued expenses | $1,622,761 |
| Grants payable | $0 |
| Deferred revenue | $2,217,246 |
| Tax-exempt bond liabilities | $8,908,262 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $105,531 |
| Unsecured mortgages and notes payable | $3,125 |
| Other liabilities | $78,401 |
| Total liabilities | $12,935,326 |
| Net assets without donor restrictions | $26,144,062 |
| Net assets with donor restrictions | $16,783,772 |
| 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 | $55,863,160 |