Albany Academy
- Assets
- $53.7m
- Revenue
- $19.9m
- Investments
- $0.0
- Employees
- 324
- Location
- Albany, NY
- Founding
- 07/1945
- Data as of
- 06/2023
- EIN
- 14-1338579
Organization Overview
Albany Academy is located in Albany, NY. The organization was established in 1945. 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 06/2023, Albany Academy employed 324 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Albany 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 06/2023, Albany Academy generated $19.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $22.3m during the year ending 06/2023. While expenses have increased by 2.2% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
1. TO OPERATE AND MAINTAIN AN EARLY CHILDHOOD CO-EDUCATION PROGRAM FORCHILDREN THREE AND FOUR YEARS OF AGE.2. TO OPERATE AND MAINTAIN AN EARLY CHILDHOOD EDUCATION PROGRAM FORGIRLS FOUR AND FIVE YEARS OF AGE, A KINDERGARTEN FOR FIVE-YEAR OLDGIRLS, A GRADE ONE THROUGH FOUR PRIMARY SCHOOL FOR GIRLS AND A GRADEFIVE THROUGH 8 MIDDLE SCHOOL FOR GIRLS AND, WHEN DEEMED FITTING,CO-EDUCATIONAL COURSES AND PROGRAMS.3. TO OPERATE AND MAINTAIN AN EARLY CHILDHOOD EDUCATION PROGRAM FORBOYS FOUR AND FIVE YEARS OF AGE, A KINDERGARTEN FOR FIVE-YEAR OLD BOYS,A GRADE ONE THROUGH FOUR PRIMARY SCHOOL FOR BOYS AND A GRADE FIVETHROUGH 8 MIDDLE SCHOOL FOR BOYS AND, WHEN DEEMED FITTING,CO-EDUCATIONAL COURSES AND PROGRAMS.4. TO OPERATE AND MAINTAIN A GRADE NINE THROUGH TWELVE SECONDARY SCHOOLWITH BOTH SINGLE-GENDER AND CO-EDUCATIONAL PROGRAMS.
Describe the Organization's Program Activity:
TO OPERATE A SCHOOL, PREKINDERGARTEN THROUGH GRADE 12. APPROXIMATELY 695 STUDENTS SERVED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy Carey Cassidy President | OfficerTrustee | 1 | $0 |
Jennifer Amstutz Trustee | Trustee | 1 | $0 |
Carl Becker Trustee | Trustee | 1 | $0 |
Michael Lasch Trustee | Trustee | 1 | $0 |
Peter Campito Pe Trustee | Trustee | 1 | $0 |
Eileen M Considine Secretary | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Compass Group Usa Food Service | 6/29/23 | $678,381 |
Janitronics Building Services Cleaning Services | 6/29/23 | $315,184 |
Austin & Company Insurance | 6/29/23 | $304,443 |
Durham School Services Busing | 6/29/23 | $202,793 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,076,761 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,333,091 |
| Noncash contributions included in lines 1a–1f | $7,748 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,409,852 |
| Total Program Service Revenue | $16,925,622 |
| Investment income | $618,457 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$280,017 |
| Net Income from Fundraising Events | $232,597 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,906,511 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,790,746 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $622,095 |
| Compensation of current officers, directors, key employees. | $381,953 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,387,584 |
| Pension plan accruals and contributions | $296,663 |
| Other employee benefits | $817,026 |
| Payroll taxes | $727,281 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $64,536 |
| Fees for services: Other | $0 |
| Advertising and promotion | $77,205 |
| Office expenses | $85,702 |
| Information technology | $216,481 |
| Royalties | $0 |
| Occupancy | $473,322 |
| Travel | $22,493 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $254,329 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,010,820 |
| Insurance | $285,637 |
| All other expenses | $1,273,498 |
| Total functional expenses | $22,308,538 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,179,268 |
| Savings and temporary cash investments | $396,803 |
| Pledges and grants receivable | $191,536 |
| Accounts receivable, net | $1,076,761 |
| 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 | $14,758,940 |
| Investments—publicly traded securities | $23,582,420 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,506,881 |
| Total assets | $53,692,609 |
| Accounts payable and accrued expenses | $1,537,710 |
| Grants payable | $0 |
| Deferred revenue | $484,499 |
| 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 | $6,684,763 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $294,660 |
| Total liabilities | $9,001,632 |
| Net assets without donor restrictions | $14,553,697 |
| Net assets with donor restrictions | $30,137,280 |
| 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 | $53,692,609 |