Cushing Academy Trustees
- Assets
- $208.9m
- Revenue
- $29.2m
- Investments
- $52.1m
- Employees
- 197
- Location
- Ashburnham, MA
- Founding
- 11/1934
- Data as of
- 06/2021
- EIN
- 04-2104048
Organization Overview
Cushing Academy Trustees, operating under the name Cushing Academy, is located in Ashburnham, MA. The organization was established in 1934. 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, Cushing Academy employed 197 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cushing 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, Cushing Academy generated $29.2m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.9%) each year. All expenses for the organization totaled $29.1m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (0.6%) per year over the past 6 years. 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
INDEPENDENT COLLEGE PREPARATORY SECONDARY SCHOOL.
Describe the Organization's Program Activity:
CUSHING ACADEMY OFFERS A RIGOROUS AND TRANSFORMATIVE INDEPENDENT SECONDARY SCHOOL EXPERIENCE FOR STUDENTS IN GRADS 9-12 AND POST GRADUATES. CUSHING ACADEMY HAS 356 STUDENTS, 321 OF WHOM BOARD AND 35 WHO ATTEND BY DAY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randy Bertin Trustee, Head Of School | OfficerTrustee | 50 | $370,624 |
Paul Silva CFO | Officer | 50 | $241,320 |
Catherine Pollock Assoc. Head Of School | Officer | 50 | $208,632 |
Edward Kirk Director Of Master Planning/engineering | 40 | $157,286 | |
David Stone Dean Of Faculty | 40 | $126,041 | |
Daniel Morrissey Director Of Admissions | 40 | $121,192 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Timberline Construction Corporation Construction Company | 6/29/21 | $10,226,781 |
Eyp Inc Construction Company | 6/29/21 | $344,763 |
Allied Universal Security Services Security Services | 6/29/21 | $221,315 |
Brock And Company Dining Services | 6/29/21 | $1,270,097 |
Csl Consulting Construction Company | 6/29/21 | $441,183 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,139,449 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,508,485 |
| Noncash contributions included in lines 1a–1f | $105,533 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,647,934 |
| Total Program Service Revenue | $23,494,629 |
| Investment income | $63,083 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$494 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$63,601 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $29,223,028 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $5,872,017 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $888,673 |
| Compensation of current officers, directors, key employees. | $888,673 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,731,367 |
| Pension plan accruals and contributions | $602,791 |
| Other employee benefits | $1,207,790 |
| Payroll taxes | $601,005 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $144,141 |
| Fees for services: Accounting | $76,075 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,532,001 |
| Advertising and promotion | $118,644 |
| Office expenses | $712,164 |
| Information technology | $234,511 |
| Royalties | $0 |
| Occupancy | $991,105 |
| Travel | $96,307 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,319 |
| Interest | $536,341 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,312,676 |
| Insurance | $291,524 |
| All other expenses | $884,241 |
| Total functional expenses | $29,143,479 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,753 |
| Savings and temporary cash investments | $29,951,881 |
| Pledges and grants receivable | $12,528,785 |
| Accounts receivable, net | $649,664 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $52,507 |
| Prepaid expenses and deferred charges | $339,653 |
| Net Land, buildings, and equipment | $113,242,984 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $52,077,077 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $70,129 |
| Total assets | $208,929,433 |
| Accounts payable and accrued expenses | $2,228,845 |
| Grants payable | $0 |
| Deferred revenue | $15,291,490 |
| Tax-exempt bond liabilities | $17,907,967 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $168,541 |
| Unsecured mortgages and notes payable | $88,649 |
| Other liabilities | $104,144 |
| Total liabilities | $35,789,636 |
| Net assets without donor restrictions | $113,470,865 |
| Net assets with donor restrictions | $59,668,932 |
| 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 | $208,929,433 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Cushing Academy Trustees has recieved totaling $82,912.
| Awarding Organization | Amount |
|---|---|
The Bessemer Giving Fund Woodbridge, NJ PURPOSE: GENERAL SUPPORT | $50,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $14,801 |
Ayco Charitable Foundation Cohoes, NY PURPOSE: EDUCATION | $12,500 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $5,550 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $61 |
Endowment Analysis
| Beg. Balance | $36,112,698 |
| Earnings | $10,332,788 |
| Net Contributions | $150 |
| Other Expense | $671,316 |
| Grants | $543,000 |
| Ending Balance | $45,231,320 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Choate Rosemary Hall Foundation Incorporated Wallingford, CT | $824,930,363 | $80,573,016 |
Hotchkiss School Lakeville, CT | $832,226,197 | $135,336,667 |
St Pauls School Concord, NH | $908,168,263 | $117,316,597 |
Trustees Of Deerfield Academy Deerfield, MA | $1,009,854,595 | $87,019,997 |
Taft School Corporation Watertown, CT | $447,949,060 | $83,525,324 |
Northfield Mount Hermon School Mount Hermon, MA | $279,135,089 | $64,524,302 |
Loomis Institute Windsor, CT | $445,458,169 | $66,028,387 |
Noble And Greenough School Dedham, MA | $357,051,555 | $55,304,957 |
Pinkerton Academy Derry, NH | $88,400,593 | $52,612,732 |
Groton School Groton, MA | $519,152,774 | $50,710,312 |
Kent School Corporation Kent, CT | $229,105,384 | $52,388,614 |
Hopkins School Incorporated New Haven, CT | $238,380,739 | $44,795,541 |