Milton Academy
- Assets
- $512.7m
- Revenue
- $105.0m
- Investments
- $349.7m
- Employees
- 586
- Location
- Milton, MA
- Founding
- 01/1959
- Data as of
- 06/2021
- EIN
- 04-2103603
Organization Overview
Milton Academy is located in Milton, MA. The organization was established in 1959. 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, Milton Academy employed 586 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Milton 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, Milton Academy generated $105.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $83.6m during the year ending 06/2021. While expenses have increased by 3.0% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
MILTON ACADEMY IS AN INDEPENDENT COLLEGE PREPARATORY K-12 SCHOOL, BOARDING AND DAY IN GRADES 9-12.
Describe the Organization's Program Activity:
MILTON ACADEMY PROMOTES AN ENVIRONMENT OF LIFELONG LEARNING TO 1,006 STUDENTS IN GRADES K-12. STUDENTS ARE ENCOURAGED TO PARTICIPATE IN COMMUNITY SERVICE AND VOLUNTEER OPPORTUNITIES DURING THE YEAR IN AN EFFORT TO INSTILL A PASSION FOR GIVING BACK TO OTHERS FOR MANY YEARS. FULL AND PARTIAL SCHOLARSHIPS ARE AWARDED TO STUDENTS BASED ON FINANCIAL NEED. IN 2021, MILTON ACADEMY AWARDED FINANCIAL AID TO 29% OF OUR STUDENTS.SEE SCHEDULE O FOR FULL DESCRIPTION.MILTON ACADEMY PROMOTES AN ENVIRONMENT OF LIFELONG LEARNING TO 1,006 STUDENTS IN GRADES K-12. STUDENTS ARE ENCOURAGED TO PARTICIPATE IN COMMUNITY SERVICE AND VOLUNTEER OPPORTUNITIES DURING THE YEAR IN AN EFFORT TO INSTILL A PASSION FOR GIVING BACK TO OTHERS FOR MANY YEARS. FULL AND PARTIAL SCHOLARSHIPS ARE AWARDED TO STUDENTS BASED ON FINANCIAL NEED. IN 2021, MILTON ACADEMY AWARDED FINANCIAL AID TO 29% OF OUR STUDENTS.THE COMMUNITY ENGAGEMENT PROGRAM, (COMMUNITY ENGAGEMENT PROGRAMS AND PARTNERSHIPS (CEPP)), SEEKS TO INSTILL AND SUPPORT A PASSION FOR SERVICE IN MILTON ACADEMY'S STUDENTS, FACULTY AND STAFF. THROUGH PROVIDING A MULTITUDE OF OPPORTUNITIES FROM TUTORING IN LOCAL SCHOOLS, TO DONATING BLOOD, TO ASSISTING THE ELDERLY, THE PROGRAM STRIVES TO PROVIDE THE MILTON COMMUNITY WITH INTERESTING AND MEANINGFUL SERVICE OPPORTUNITIES. ON AVERAGE, ABOUT 175 STUDENTS MAKE WEEKLY COMMITMENTS TO OVER 23 DIFFERENT ORGANIZATIONS IN THE GREATER BOSTON AREA. ANOTHER 200 STUDENTS PARTICIPATE IN MULTI-ANNUAL EVENTS SUCH AS SPECIAL OLYMPICS TOURNAMENTS, RED CROSS BLOOD DRIVE AND HOLIDAY GIVING EVENTS. THE ENTIRE UPPER SCHOOL COMMUNITY PARTICIPATES IN THE ANNUAL HUNGER AWARENESS EVENT. THE PROGRAM ALSO SUPPORTS INDIVIDUAL AND GROUP INITIATIVES FOR PARTICULAR CAUSES, SUCH AS THE WINTER WALK (SUPPORTING UNHOUSED INDIVIDUALS), MILTON TOWN GREEN UP DAY, AND HURRICANE RELIEF.
THE MOUNTAIN SCHOOL OF MILTON ACADEMY IS AN INDEPENDENT SEMESTER PROGRAM THAT PROVIDES HIGH SCHOOL JUNIORS THE OPPORTUNITY TO LIVE AND WORK ON AN ORGANIC FARM IN RURAL VERMONT. EACH SEMESTER THE MOUNTAIN SCHOOL DRAWS 45 HIGH-ACHIEVING STUDENTS FROM ALL OVER THE COUNTRY. COURSES PROVIDE A DEMANDING, INTEGRATED LEARNING EXPERIENCE THAT TAKES FULL ADVANTAGE OF THE SCHOOL'S SMALL SIZE AND MOUNTAIN CAMPUS. STUDENTS COME FROM DIFFERENT BACKGROUNDS AND SCHOOLS AROUND THE COUNTRY, AND ARE CHALLENGED TO WORK TOGETHER AND LEARN FROM EACH OTHER, AS THEY EXPLORE THE INTERSECTION OF THE SCHOOL'S FARM, ACADEMIC PROGRAM, AND RESIDENTIAL LIFE. THE GOAL IS FOR STUDENTS TO RETURN TO THEIR SCHOOLS AND COMMUNITIES, MORE CLEAR ABOUT THEMSELVES AND BETTER PREPARED TO BECOME EFFECTIVE CITIZENS.
THROUGH INTERSCHOLASTIC AND INTRAMURAL SPORTS, AS WELL AS PHYSICAL EDUCATION COURSES, ALL MILTON ACADEMY STUDENTS ARE INVOLVED IN PHYSICALLY ACTIVE AND CHALLENGING PURSUITS THAT HELP FORM AN EXCEPTIONAL EDUCATIONAL EXPERIENCE. ATHLETIC ACTIVITY IS CERTAINLY AN EXPRESSION OF ONE FORM OF INTELLIGENCE, AN INTELLIGENCE THAT NEEDS TO BE DEVELOPED AND NURTURED AS DOES ANY OTHER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Theodorick Bland Head Of School | Officer | 60 | $791,294 |
Lisa Winick Chief Advancement Officer | Officer | 50 | $284,031 |
Heidi Vanderbilt-Brown Chief Financial & Operating Officer | Officer | 50 | $270,136 |
Catherine Connolly Director Of Development | 50 | $203,844 | |
David Ball Principal, Upper School | Officer | 50 | $197,550 |
Jennifer B Anderson Chief Communication Officer | 50 | $185,359 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sage Dining Services Inc Food Service | 6/29/21 | $1,586,664 |
Architectural Resources Cambridge Inc Construction Consultant | 6/29/21 | $1,222,684 |
C M Cleaning Company Inc Cleaning Contractor | 6/29/21 | $800,253 |
William D West Construction Consultant | 6/29/21 | $730,601 |
The Cambridge Incubator Llc Dba Cic Hea Health Advising | 6/29/21 | $1,674,924 |
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 | $10,784,843 |
| Noncash contributions included in lines 1a–1f | $4,063,544 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,784,843 |
| Total Program Service Revenue | $55,145,728 |
| Investment income | $8,696,257 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $30,377,857 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $105,004,685 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $218,300 |
| Grants and other assistance to domestic individuals. | $14,057,695 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,759,747 |
| Compensation of current officers, directors, key employees. | $1,255,885 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $29,667,743 |
| Pension plan accruals and contributions | $1,499,627 |
| Other employee benefits | $4,773,460 |
| Payroll taxes | $2,102,734 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $417,028 |
| Fees for services: Accounting | $145,551 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $23,120 |
| Fees for services: Investment Management | $2,993,282 |
| Fees for services: Other | $6,610,068 |
| Advertising and promotion | $138,900 |
| Office expenses | $3,319,746 |
| Information technology | $1,058,778 |
| Royalties | $0 |
| Occupancy | $1,521,067 |
| Travel | $577,904 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $48,926 |
| Interest | $1,488,005 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,129,954 |
| Insurance | $658,457 |
| All other expenses | $18,266 |
| Total functional expenses | $83,560,459 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,985,204 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $10,603,535 |
| Accounts receivable, net | $534,917 |
| 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 | $62,827,060 |
| Investments—publicly traded securities | $72,123,502 |
| Investments—other securities | $349,664,608 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,991,639 |
| Total assets | $512,730,465 |
| Accounts payable and accrued expenses | $8,331,220 |
| Grants payable | $0 |
| Deferred revenue | $1,682,330 |
| Tax-exempt bond liabilities | $61,290,278 |
| 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 | $2,132,817 |
| Total liabilities | $73,436,645 |
| Net assets without donor restrictions | $66,362,502 |
| Net assets with donor restrictions | $372,931,318 |
| 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 | $512,730,465 |
Grants Awarded
Over the last fiscal year, Milton Academy has awarded $212,500 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
TOWN OF MILTON PURPOSE: VOLUNTARY GRANT | $162,500 |
Milton, MA PURPOSE: VOLUNTARY GRANT | $10,000 |
MILTON POLICE DEPARTMENT PURPOSE: VOLUNTARY GRANT | $10,000 |
MILTON FIRE DEPARTMENT PURPOSE: VOLUNTARY GRANT | $10,000 |
MILTON TEEN CENTER PURPOSE: VOLUNTARY GRANT | $7,500 |
Milton, MA PURPOSE: VOLUNTARY GRANT | $7,500 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Milton Academy has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
Rudolph J Torello Foundation Inc Oakhurst, NJ PURPOSE: GENERAL | $10,000 |
Amy And Steve Unfried Foundation Wilson, WY PURPOSE: CHARITABLE | $5,000 |
Endowment Analysis
| Beg. Balance | $325,282,412 |
| Earnings | $90,060,752 |
| Admin Expense | $597,804 |
| Net Contributions | $6,650,101 |
| Other Expense | $13,759,653 |
| Ending Balance | $407,635,808 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Horace Mann School Bronx, NY | $475,824,158 | $137,244,948 |
Ethical Culture Fieldston School New York, NY | $252,651,487 | $107,394,843 |
Dalton Schools Inc New York, NY | $268,184,018 | $87,154,384 |
Milton Academy Milton, MA | $512,730,465 | $105,004,685 |
Riverdale Country School Inc Bronx, NY | $247,467,239 | $82,826,277 |
Trinity Episcopal Schools Corporation New York, NY | $265,614,292 | $76,873,691 |
United Nations International School New York, NY | $95,948,249 | $80,239,931 |
Columbia Grammar & Preparatory School New York, NY | $126,207,367 | $82,489,526 |
Poly Prep Country Day School Brooklyn, NY | $174,200,532 | $76,376,518 |
Saint Anns School Brooklyn, NY | $162,069,731 | $73,475,158 |
Spence School New York, NY | $416,454,517 | $72,977,566 |
Brunswick School Inc Greenwich, CT | $416,319,503 | $63,510,846 |