Hebron Academy Incorporated
- Assets
- $65.8m
- Revenue
- $19.3m
- Investments
- $2.0m
- Employees
- 113
- Location
- Hebron, ME
- Founding
- 05/1941
- Data as of
- 06/2021
- EIN
- 01-0224898
Organization Overview
Hebron Academy Incorporated is located in Hebron, 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 06/2021, Hebron Academy Incorporated employed 113 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hebron Academy Incorporated 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, Hebron Academy Incorporated generated $19.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $15.9m 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
TO OPERATE A NON-PROFIT, PRIVATE SCHOOL FOR STUDENTS FROM MIDDLE SCHOOL TO HIGH SCHOOL, AND TO INSPIRE AND GUIDE STUDENTS TO REACH THEIR HIGHEST POTENTIAL IN MIND, BODY AND SPIRIT. OUR CORE VALUES ARE FUNDAMENTAL TO THE HEBRON EXPERIENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SECONDARY AND MIDDLE SCHOOL EDUCATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dan Marchetti Head Of School | Officer | 40 | $199,486 |
James Bisesti CFO And Business Manager | Officer | 40 | $124,627 |
Edwin Nunez Ramirez Director Of Admission | 40 | $113,469 | |
David S Prout Treasurer | OfficerTrustee | 5 | $0 |
Clement S Dwyer Jr Assistant Treasurer | OfficerTrustee | 5 | $0 |
J Matthew Lyness Chair | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Gdi Integrated Facility Services Cleaning Services | 6/29/21 | $148,474 |
Sage Dining Services Food Services | 6/29/21 | $832,938 |
Blackbaud Inc Software Services | 6/29/21 | $107,904 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,936,488 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,904,848 |
| Noncash contributions included in lines 1a–1f | $367,766 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,841,336 |
| Total Program Service Revenue | $10,916,353 |
| Investment income | $418,559 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $13,260 |
| Net Gain/Loss on Asset Sales | $4,089,805 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,279,313 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $4,021,490 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $391,820 |
| Compensation of current officers, directors, key employees. | $183,870 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,697,039 |
| Pension plan accruals and contributions | $247,596 |
| Other employee benefits | $556,624 |
| Payroll taxes | $320,395 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,873 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $77,032 |
| Fees for services: Other | $412,899 |
| Advertising and promotion | $154,201 |
| Office expenses | $857,498 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,744,933 |
| Travel | $83,986 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $486,913 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,256,052 |
| Insurance | $124,050 |
| All other expenses | $0 |
| Total functional expenses | $15,897,620 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,967,663 |
| Savings and temporary cash investments | $6,548,742 |
| Pledges and grants receivable | $6,234,615 |
| Accounts receivable, net | $49,296 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $44,790 |
| Prepaid expenses and deferred charges | $427,182 |
| Net Land, buildings, and equipment | $19,165,536 |
| Investments—publicly traded securities | $26,812,771 |
| Investments—other securities | $1,958,576 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,636,323 |
| Total assets | $65,845,494 |
| Accounts payable and accrued expenses | $489,010 |
| Grants payable | $0 |
| Deferred revenue | $6,160,986 |
| Tax-exempt bond liabilities | $11,187,182 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $425,988 |
| Total liabilities | $18,263,166 |
| Net assets without donor restrictions | $10,706,771 |
| Net assets with donor restrictions | $36,875,557 |
| 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 | $65,845,494 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Hebron Academy Incorporated has recieved totaling $137,317.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $58,850 |
Bny Mellon Charitable Gift Fund Boston, MA PURPOSE: TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE | $45,500 |
Tua Lester G Provo Fbo Charles Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $13,777 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $8,045 |
Maine Community Foundation Inc Ellsworth, ME PURPOSE: Elementary & Secondary Schools | $6,000 |
Wal-Mart Foundation Bentonville, AR PURPOSE: EXECUTIVE MATCHING GIFT PROGRAM | $2,500 |
Endowment Analysis
| Beg. Balance | $23,626,978 |
| Earnings | $7,071,418 |
| Net Contributions | $446,195 |
| Other Expense | $1,257,987 |
| Ending Balance | $29,886,604 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mount Prospect Academy Inc Plymouth, NH | $25,031,051 | $42,485,261 |
Berwick Academy Trustees South Berwick, ME | $57,917,930 | $28,954,341 |
Waynflete School Portland, ME | $64,743,291 | $23,025,527 |
Hebron Academy Incorporated Hebron, ME | $65,845,494 | $19,279,313 |
Portsmouth Christian Academy Dover, NH | $12,766,893 | $7,753,018 |
Southern Kennebec Child Development Corporation Farmingdale, ME | $2,781,085 | $5,060,719 |
Community Regional Charter School Skowhegan, ME | $5,610,166 | $5,039,649 |
Great Schools Partnership Inc Portland, ME | $2,885,040 | $4,696,809 |
Breakwater Learning Portland, ME | $5,120,298 | $3,833,883 |
Crossroads Academy Lyme, NH | $13,900,785 | $2,944,228 |
Maine Academy Of Natural Sciences Hinckley, ME | $1,958,998 | $3,873,648 |
Maine Arts Academy Sidney, ME | $822,323 | $3,238,498 |