Trustees Of Thornton Academy
- Assets
- $58.2m
- Revenue
- $34.8m
- Investments
- $0.0
- Employees
- 280
- Location
- Saco, ME
- Founding
- 10/1951
- Data as of
- 06/2021
- EIN
- 01-0224769
Organization Overview
Trustees Of Thornton Academy is located in Saco, ME. The organization was established in 1951. 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, Trustees Of Thornton Academy employed 280 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Trustees Of Thornton 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, Trustees Of Thornton Academy generated $34.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $28.6m during the year ending 06/2021. While expenses have increased by 3.7% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THORNTON ACADEMY PREPARES STUDENTS FOR A CHANGING WORLD, CHALLENGING ALL TO LEARN, GROW, INNOVATE AND SUCCEED THROUGH A GRADE 6-12 PRIVATE SCHOOL, INCLUDING BOARDING PROGRAM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED GRADE 6-12 PRIVATE SCHOOL EDUCATION. STUDENTS INCLUDE THOSE FROM SENDING MUNICIPALITIES OF SACO, DAYTON AND ARUNDEL, PRIVATE PAY DAY STUDENTS AND INTERNATIONAL BOARDING STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Menard Rene Headmaster | Officer | 40 | $232,337 |
Swenson Ann-Marie CFO | Officer | 40 | $134,163 |
Williams Clint M Director Of Enrollment | 40 | $112,338 | |
Snyder Marsha Director Of School Operations | 40 | $106,071 | |
Paradis Catherine Director Of Residential Life | 40 | $105,724 | |
Nasse Benjamin B Director Of Technology | 40 | $100,707 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Flik Independent Schools Food Service Provider | 6/29/21 | $918,932 |
Jim Godbout Plumbing And Heating Inc Plumbing And Heating | 6/29/21 | $101,903 |
Benchmark Cleaning And Supply Cleaning/property Maintenance | 6/29/21 | $529,024 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $31,671 |
| Related organizations | $0 |
| Government grants | $841,632 |
| All other contributions, gifts, grants, and similar amounts not included above | $536,716 |
| Noncash contributions included in lines 1a–1f | $51,671 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,410,019 |
| Total Program Service Revenue | $27,700,544 |
| Investment income | $486,358 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $240 |
| Net Gain/Loss on Asset Sales | $1,471,724 |
| Net Income from Fundraising Events | $118,376 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $34,768,961 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,952,918 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,019,344 |
| Compensation of current officers, directors, key employees. | $49,177 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,761,939 |
| Pension plan accruals and contributions | $401,456 |
| Other employee benefits | $3,252,161 |
| Payroll taxes | $927,768 |
| Fees for services: Management | $759 |
| Fees for services: Legal | $53,961 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $90,841 |
| Fees for services: Other | $1,133,259 |
| Advertising and promotion | $53,284 |
| Office expenses | $97,366 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $529,483 |
| Travel | $16,718 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $29,942 |
| Interest | $719,545 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,848,585 |
| Insurance | $401,746 |
| All other expenses | $330,493 |
| Total functional expenses | $28,617,390 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,098 |
| Savings and temporary cash investments | $8,393,252 |
| Pledges and grants receivable | $1,062,936 |
| Accounts receivable, net | $546,323 |
| 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 | $29,419,384 |
| Investments—publicly traded securities | $18,002,885 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $722,625 |
| Total assets | $58,151,503 |
| Accounts payable and accrued expenses | $2,478,319 |
| Grants payable | $0 |
| Deferred revenue | $2,159,492 |
| Tax-exempt bond liabilities | $18,652,800 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $358,242 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $176,338 |
| Total liabilities | $23,825,191 |
| Net assets without donor restrictions | $26,554,100 |
| Net assets with donor restrictions | $7,772,212 |
| 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 | $58,151,503 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Trustees Of Thornton Academy has recieved totaling $48,548.
| Awarding Organization | Amount |
|---|---|
Saco & Biddeford Savings Charitable Foundation Saco, ME PURPOSE: GENERAL OPERATING SUPPORT | $48,548 |
Endowment Analysis
| Beg. Balance | $16,948,535 |
| Earnings | $2,518,621 |
| Net Contributions | $724,196 |
| Other Expense | $200,528 |
| Ending Balance | $19,990,824 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
St Pauls School Concord, NH | $908,168,263 | $117,316,597 |
Pinkerton Academy Derry, NH | $88,400,593 | $52,612,732 |
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 |