Foxcroft Academy Trustees
- Assets
- $30.1m
- Revenue
- $11.1m
- Investments
- $0.0
- Employees
- 138
- Location
- Doverfoxcroft, ME
- Founding
- 05/1972
- Data as of
- 06/2022
- EIN
- 01-0246278
Organization Overview
Foxcroft Academy Trustees is located in Doverfoxcroft, ME. The organization was established in 1972. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Foxcroft Academy Trustees employed 138 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foxcroft 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, Foxcroft Academy Trustees generated $11.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $11.3m during the year ending 06/2022. While expenses have increased by 3.3% per year over the past 7 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
SECONDARY EDUCATION
Describe the Organization's Program Activity:
THE TRUSTEES OF FOXCROFT ACADEMY OPERATE A PRIVATE SECONDARY SCHOOL WHICH CONTRACTS TO PROVIDE COMPREHENSIVE SECONDARY EDUCATION TO ALL STUDENTS IN RURAL SCHOOL UNIT (RSU) #68, OTHER LOCAL COMMUNITIES WITH NO SECONDARY SCHOOL AND SOME PRIVATE INDIVIDUALS, INCLUDING BOARDING STUDENTS. CO-CURRICULAR PROGRAMS FORM AN INTEGRAL PART OF THAT EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth Hews Trustee | Trustee | 1 | $0 |
Kelly Dennis Trustee | Trustee | 1 | $0 |
Thomas Lizotte Trustee | Trustee | 1 | $0 |
Richard Swett MD President | OfficerTrustee | 1 | $0 |
Raymond Poulin Trustee | Trustee | 1 | $0 |
Norman Higgins Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Community Counselling Service Co Llc Capital Campaign Services | 6/29/19 | $178,627 |
Rowells Transportation Llc Transportation: Students | 6/29/19 | $130,762 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $877,167 |
| All other contributions, gifts, grants, and similar amounts not included above | $725,231 |
| Noncash contributions included in lines 1a–1f | $20,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,602,398 |
| Total Program Service Revenue | $8,020,316 |
| Investment income | $277,727 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $123,133 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,053,374 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,343,641 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $427,466 |
| Compensation of current officers, directors, key employees. | $427,466 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,116,616 |
| Pension plan accruals and contributions | $164,917 |
| Other employee benefits | $1,115,096 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35,350 |
| Fees for services: Accounting | $40,481 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $92,953 |
| Fees for services: Other | $686,266 |
| Advertising and promotion | $112,603 |
| Office expenses | $207,140 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $840,866 |
| Travel | $128,807 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $331,980 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $725,504 |
| Insurance | $0 |
| All other expenses | $247,705 |
| Total functional expenses | $11,295,783 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $250,728 |
| Savings and temporary cash investments | $29,090 |
| Pledges and grants receivable | $574,485 |
| Accounts receivable, net | $67,742 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $20,264 |
| Prepaid expenses and deferred charges | $166,288 |
| Net Land, buildings, and equipment | $19,565,398 |
| Investments—publicly traded securities | $9,289,503 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $98,885 |
| Total assets | $30,062,383 |
| Accounts payable and accrued expenses | $1,014,756 |
| Grants payable | $0 |
| Deferred revenue | $329,935 |
| Tax-exempt bond liabilities | $10,711,550 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,443,201 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $15,499,442 |
| Net assets without donor restrictions | $517,697 |
| Net assets with donor restrictions | $14,045,244 |
| 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 | $30,062,383 |