Suffield Academy
- Assets
- $165.8m
- Revenue
- $32.1m
- Investments
- $12.3m
- Employees
- 254
- Location
- Suffield, CT
- Founding
- 05/1917
- Data as of
- 06/2021
- EIN
- 06-0678539
Organization Overview
Suffield Academy is located in Suffield, CT. The organization was established in 1917. 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 06/2022, Suffield Academy employed 254 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Suffield 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, Suffield Academy generated $32.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $31.2m during the year ending 06/2021. While expenses have increased by 2.4% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SUFFIELD ACADEMY IS A COEDUCATIONAL INDEPENDENT SECONDARY SCHOOL SERVING A DIVERSE STUDENT BODY OF DAY AND BOARDING STUDENTS FROM ACROSS THE UNITED STATES AND FROM MANY FOREIGN COUNTIES. THE SCHOOL IS GROUNDED IN A TRADITION OF ACADEMIC EXCELLENCE COMBINED WITH A STRONG WORK ETHIC; RESPECT FOR INDIVIDUAL DIFFERENCES AND A COMMITMENT TO SCHOLARSHIP GUIDE OUR CURRICULUM AND PEDAGOGY. WE ENGENDER AMONG OUR STUDENTS A SENSE OF RESPONSIBILITY AND CHALLENGE THEM TO GROW IN A SCHOOL COMMUNITY THAT IS BOTH STRUCTURED AND NURTURING. WE EXPECT OUR STUDENTS TO EMERGE FROM THEIR SUFFIELD EXPERIENCE FOR A LIFETIME OF LEARNING AND ACTIVE CITIZENSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL DELIVERY, GENERAL/OTHER: THE SCHOOL PROVIDES NON-DISCRIMINATORY EDUCATION TO APPROXIMATELY 400 STUDENTS, GRADES 9-12. THIS EDUCATION IS ACADEMIC, ATHLETIC AND SOCIAL.
EDUCATIONAL DELIVERY, GENERAL/OTHER: THE SCHOOL PROVIDES NON-DISCRIMINATORY EDUCATION TO APPROXIMATELY 400 STUDENTS, GRADES 9-12. THIS EDUCATION IS ACADEMIC, ATHLETIC AND SOCIAL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Cahn III Head Of School | Officer | 60 | $1,017,444 |
Patrick C Booth Assistant Treasurer | Officer | 60 | $331,677 |
Philip Riegel Director Of Development | 60 | $211,081 | |
Ann Selvitelli Director Of College Counseling | 60 | $165,090 | |
Sara Yeager Academic Dean | 60 | $181,701 | |
Greg Lynch Dean Of Students | 60 | $143,318 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fip Consruction Construction | 6/29/22 | $3,938,276 |
Galasso Materials Llc Asphalt | 6/29/22 | $250,863 |
Dc Painting Contractors Painting | 6/29/22 | $205,031 |
Ramco Technologies Technology | 6/29/22 | $164,274 |
Tecton Architects Architects | 6/29/22 | $151,601 |
Fip Consruction Construction | 6/29/22 | $3,938,276 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,539,900 |
| Investment income | $1,002,327 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,177,498 |
| Net Income from Fundraising Events | -$14,138 |
| Net Income from Gaming Activities | $30,721 |
| Net Income from Sales of Inventory | -$41,972 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $32,098,698 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $4,675,104 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,929,776 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,014,290 |
| Pension plan accruals and contributions | $139,224 |
| Other employee benefits | $1,561,335 |
| Payroll taxes | $629,355 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,826 |
| Fees for services: Accounting | $57,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $374,328 |
| Fees for services: Other | $1,456,829 |
| Advertising and promotion | $182,974 |
| Office expenses | $256,160 |
| Information technology | $87,211 |
| Royalties | $0 |
| Occupancy | $1,681,262 |
| Travel | $58,425 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $89,125 |
| Interest | $313,550 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,893,038 |
| Insurance | $329,790 |
| All other expenses | $0 |
| Total functional expenses | $31,233,967 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,529,352 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $865,494 |
| Accounts receivable, net | $4,497,454 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $92,582 |
| Prepaid expenses and deferred charges | $221,299 |
| Investments—publicly traded securities | $59,218,490 |
| Investments—other securities | $12,316,652 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,958,856 |
| Total assets | $165,817,065 |
| Accounts payable and accrued expenses | $1,962,381 |
| Grants payable | $0 |
| Deferred revenue | $13,947,535 |
| Tax-exempt bond liabilities | $10,412,681 |
| 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 | $18,560 |
| Total liabilities | $26,341,157 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $139,475,908 |