Concord Academy
- Assets
- $166.8m
- Revenue
- $40.6m
- Investments
- $35.7m
- Employees
- 372
- Location
- Concord, MA
- Founding
- 06/1937
- Data as of
- 06/2022
- EIN
- 04-1200600
Organization Overview
Concord Academy is located in Concord, MA. The organization was established in 1937. 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 06/2023, Concord Academy employed 372 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Concord 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 06/2022, Concord Academy generated $40.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $33.5m during the year ending 06/2022. While expenses have increased by 3.6% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
CONCORD ACADEMY IS A FOUR-YEAR, NONPROFIT, COEDUCATIONAL, BOARDING AND DAY COLLEGE-PREPARATORY SCHOOL CONSISTING OF GRADES NINE THROUGH TWELVE. THE 2022-23 ENROLLMENT WAS COMPOSED OF 403 STUDENTS, 152 OF WHOM WERE BOARDING STUDENTS AND 251 OF WHOM WERE DAY STUDENTS. ENROLLMENT FOR THE 2022-23 YEAR CONSISTED OF STUDENTS FROM 11 STATES/TERRITORIES AND 16 FOREIGN COUNTRIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SECONDARY EDUCATION: 403 STUDENTS IN GRADES 9 THROUGH 12; EDUCATIONAL PROGRAMS, GENERAL/OTHER: SUMMER CAMP 8-WEEK PROGRAM FOR CHILDREN IN GRADES PRE-K THROUGH 9.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Henry Fairfax Head Of School (from 7/1/2022) | OfficerTrustee | 55 | $250,455 |
Sunredi Admadjaja Trustee | Trustee | 1 | $0 |
Tess Munro Bauta Trustee | Trustee | 1 | $0 |
Dr Harvey J Berger Trustee | Trustee | 1 | $0 |
Trelane Clark Trustee | Trustee | 1 | $0 |
Irene Chu Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sodexo Inc & Affiliates Food Services | 6/29/23 | $1,956,123 |
Dewing Schmid Kearns Architectural Services | 6/29/23 | $796,877 |
City Wide Of Boston Cleaning Services | 6/29/23 | $534,788 |
Ounce It Llc It Services | 6/29/23 | $436,857 |
Harbour Carpentry Carpentry Services | 6/29/23 | $259,880 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,606,935 |
| Noncash contributions included in lines 1a–1f | $1,016,810 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,606,935 |
| Total Program Service Revenue | $24,247,690 |
| Investment income | $1,236,742 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,996,858 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $40,612,899 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,000 |
| Grants and other assistance to domestic individuals. | $5,385,316 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,272,189 |
| Compensation of current officers, directors, key employees. | $1,001,028 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,884,876 |
| Pension plan accruals and contributions | $794,249 |
| Other employee benefits | $2,050,888 |
| Payroll taxes | $922,466 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $42,409 |
| Fees for services: Accounting | $89,327 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $352,725 |
| Fees for services: Other | $1,445,729 |
| Advertising and promotion | $117,792 |
| Office expenses | $161,494 |
| Information technology | $166,515 |
| Royalties | $0 |
| Occupancy | $1,004,470 |
| Travel | $173,910 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $142,091 |
| Interest | $341,783 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,346,730 |
| Insurance | $215,294 |
| All other expenses | $754,820 |
| Total functional expenses | $33,486,337 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,301 |
| Savings and temporary cash investments | $19,418,431 |
| Pledges and grants receivable | $10,463,468 |
| Accounts receivable, net | $38,502 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $14,256 |
| Inventories for sale or use | $16,032 |
| Prepaid expenses and deferred charges | $764,288 |
| Net Land, buildings, and equipment | $42,099,088 |
| Investments—publicly traded securities | $56,744,828 |
| Investments—other securities | $35,676,190 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,577,297 |
| Total assets | $166,818,681 |
| Accounts payable and accrued expenses | $2,038,894 |
| Grants payable | $0 |
| Deferred revenue | $8,118,275 |
| Tax-exempt bond liabilities | $12,985,876 |
| 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 | $1,076,713 |
| Total liabilities | $24,219,758 |
| Net assets without donor restrictions | $65,318,447 |
| Net assets with donor restrictions | $77,280,476 |
| 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 | $166,818,681 |