School Year Abroad Inc
- Assets
- $31.8m
- Revenue
- $4.1m
- Investments
- $11.6m
- Employees
- 35
- Location
- North Andover, MA
- Founding
- 01/1977
- Data as of
- 06/2021
- EIN
- 04-2589375
Organization Overview
School Year Abroad Inc is located in North Andover, MA. The organization was established in 1977. According to its NTEE Classification (Q22) the organization is classified as: International Academic Exchange, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 06/2021, School Year Abroad Inc employed 35 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. School Year Abroad Inc 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, School Year Abroad Inc generated $4.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (19.2%) each year. All expenses for the organization totaled $5.0m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (15.0%) 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
TO PROVIDE EDUCATIONAL OPPORTUNITIES TO HIGH SCHOOL STUDENTS THAT ALLOW THEM TO LIVE AND STUDY ABROAD
Describe the Organization's Program Activity:
SCHOOL YEAR ABROAD, INC PROVIDES EDUCATIONAL OPPORTUNITIES TO HIGH SCHOOL STUDENTS BY SENDING THEM OVERSEAS TO STUDY AT ONE OF FOUR SCHOOLS IN CHINA, FRANCE, ITALY,OR SPAIN. DURING THE 2020-2021 SCHOOL YEAR, NO STUDENTS STUDIED AT OUR CAMPUSES IN CHINA, FRANCE, ITALY, AND SPAIN AND NO STUDENTS ATTENDED SUMMER PROGRAMS IN FRANCE, CHINA, ITALY AND SPAIN. WE ALSO CLOSED THE CHINA SCHOOL DURING THE FISCAL YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Hassan President | OfficerTrustee | 50 | $315,178 |
Aric Visser Executive Director | 50 | $146,125 | |
Michael Mccarthy CFO | Officer | 50 | $137,120 |
Rachel Keegan Director Of Admissions | 50 | $126,085 | |
Kirk Davenport Chair | OfficerTrustee | 5 | $0 |
Julia Russell Eells Vice Chair | OfficerTrustee | 5 | $0 |
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 | $2,753,027 |
| Noncash contributions included in lines 1a–1f | $147,486 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,753,027 |
| Total Program Service Revenue | $242,674 |
| Investment income | $123,247 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,029,473 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,148,421 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $575,630 |
| Compensation of current officers, directors, key employees. | $271,335 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,303,524 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $827,799 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $42,219 |
| Fees for services: Accounting | $53,228 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,586 |
| Advertising and promotion | $70,344 |
| Office expenses | $43,148 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $304,544 |
| Travel | $18,002 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $182,165 |
| Insurance | $181,017 |
| All other expenses | $27,474 |
| Total functional expenses | $5,028,869 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,468,725 |
| Savings and temporary cash investments | $6,560,675 |
| Pledges and grants receivable | $565,714 |
| Accounts receivable, net | $9,071 |
| 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 | $52,057 |
| Net Land, buildings, and equipment | $2,954,840 |
| Investments—publicly traded securities | $6,564,622 |
| Investments—other securities | $11,601,875 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $31,777,579 |
| Accounts payable and accrued expenses | $501,865 |
| Grants payable | $0 |
| Deferred revenue | $2,430,148 |
| Tax-exempt bond liabilities | $0 |
| 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 | $0 |
| Total liabilities | $2,932,013 |
| Net assets without donor restrictions | $18,350,383 |
| Net assets with donor restrictions | $10,495,183 |
| 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 | $31,777,579 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that School Year Abroad Inc has recieved totaling $42,750.
| Awarding Organization | Amount |
|---|---|
The Powell Foundation Houston, TX PURPOSE: DESIGNATED GRANT: GENERAL OPERATING AND SUPPORT | $20,000 |
Colley Foundation Tr San Francisco, CA PURPOSE: GENERAL FUND | $10,000 |
The Powell Foundation Houston, TX PURPOSE: DESIGNATED GRANT: GENERAL OPERATING AND SUPPORT | $7,500 |
The Powell Foundation Houston, TX PURPOSE: DESIGNATED GRANT: GENERAL OPERATING AND SUPPORT | $5,000 |
Gannett Foundations Inc Mclean, VA PURPOSE: CHARITABLE PURPOSE | $250 |
Endowment Analysis
| Beg. Balance | $14,860,420 |
| Earnings | $3,402,362 |
| Net Contributions | $8,128 |
| Other Expense | $650,000 |
| Ending Balance | $17,620,910 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Afs-Usa Inc New York, NY | $16,942,442 | $16,772,784 |
American Academy In Rome New York, NY | $156,286,917 | $13,968,918 |
Alexander Muss Institute For Israel Education Inc Rockville Centre, NY | $21,964,723 | $9,700,291 |
Onward Israel Usa Inc New York, NY | $2,215,370 | $5,939,234 |
Showa Boston Institute For Language And Culture Jamaica Plain, MA | $39,110,971 | $10,562,824 |
Afs Intercultural Programs Inc New York, NY | $14,241,646 | $12,687,356 |
Egyptian-American Enterprise Fund New York, NY | $169,845,703 | $41,150,119 |
International Student Exchange Inc Bay Shore, NY | $14,840,965 | $6,979,556 |
Insead North America Inc Valhalla, NY | $10,753,709 | $6,277,643 |
Program Of Academic Exchange Port Chester, NY | $4,242,998 | $6,723,504 |
School Year Abroad Inc North Andover, MA | $31,777,579 | $4,148,421 |
Urban Assembly Inc New York, NY | $3,965,114 | $5,718,202 |