Albany Academy
- Assets
- $58.7m
- Revenue
- $27.2m
- Investments
- $0.0
- Employees
- 265
- Location
- Albany, NY
- Founding
- 07/1945
- Data as of
- 06/2021
- 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 06/2021, Albany Academy employed 265 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 06/2021, Albany Academy generated $27.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $19.8m during the year ending 06/2021. While expenses have increased by 0.9% 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
SEE SCHEDULE O
Describe the Organization's Program Activity:
TO OPERATE A SCHOOL, PREKINDERGARTEN TO GRADE 12, AND INCLUDING POST-GRADUATE. APPROXIMATELY 725 STUDENTS SERVED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Lauricella Head Of School | Officer | 40 | $223,087 |
Ann Wendth Director Of Institutional | 40 | $141,435 | |
M Scott Milliken Aa Associate Head Of Schoo | 40 | $126,746 | |
Pamela Macaffer CFO | Officer | 40 | $123,643 |
David Lester Human Resources Director | 40 | $116,491 | |
Eileen M Considine Secretary | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Durham School Services Busing | 6/29/21 | $202,793 |
Compass Group Usa Food Service | 6/29/21 | $678,381 |
Janitronics Building Services Cleaning Services | 6/29/21 | $315,184 |
Blackbaud Inc Software | 6/29/21 | $166,567 |
Austin & Company Insurance | 6/29/21 | $304,443 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,873,887 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,519,808 |
| Noncash contributions included in lines 1a–1f | $30,600 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,393,695 |
| Total Program Service Revenue | $16,764,583 |
| Investment income | $414,990 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,450,010 |
| Net Income from Fundraising Events | $157,827 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $27,181,105 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $4,273,270 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $751,341 |
| Compensation of current officers, directors, key employees. | $468,960 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,118,060 |
| Pension plan accruals and contributions | $312,094 |
| Other employee benefits | $843,005 |
| Payroll taxes | $645,765 |
| 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 | $87,894 |
| Fees for services: Other | $0 |
| Advertising and promotion | $36,160 |
| Office expenses | $87,355 |
| Information technology | $241,660 |
| Royalties | $0 |
| Occupancy | $388,014 |
| Travel | $10,213 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $216,946 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $983,722 |
| Insurance | $218,490 |
| All other expenses | $814,258 |
| Total functional expenses | $19,840,080 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,365,244 |
| Savings and temporary cash investments | $487,590 |
| Pledges and grants receivable | $197,068 |
| Accounts receivable, net | $0 |
| 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 | $15,567,490 |
| Investments—publicly traded securities | $30,433,727 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,674,958 |
| Total assets | $58,726,077 |
| Accounts payable and accrued expenses | $1,328,812 |
| Grants payable | $0 |
| Deferred revenue | $358,270 |
| 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 | $6,617,339 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $331,857 |
| Total liabilities | $8,636,278 |
| Net assets without donor restrictions | $17,564,214 |
| Net assets with donor restrictions | $32,525,585 |
| 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 | $58,726,077 |
Grants Recieved
Over the last fiscal year, we have identified 15 grants that Albany Academy has recieved totaling $588,559.
| Awarding Organization | Amount |
|---|---|
Pinellas Community Foundation Clearwater, FL PURPOSE: GENERAL SUPPORT | $440,505 |
Gerardus Smith-John G Green Trust U/W Eleanor Green Albany, NY PURPOSE: CHARITABLE | $46,994 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $38,300 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $23,250 |
Picotte Family Foundation Albany, NY PURPOSE: CHARITABLE PURPOSE | $10,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $9,488 |
Endowment Analysis
| Beg. Balance | $27,903,056 |
| Earnings | $4,665,253 |
| Net Contributions | $967,598 |
| Other Expense | $962,665 |
| Ending Balance | $32,573,242 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Rye Country Day School Rye, NY | $168,719,071 | $53,917,933 |
Pennsylvania Leadership Charter Schools West Chester, PA | $90,879,263 | $65,797,836 |
The Public School Of Germantown Fort Washington, PA | $151,608,543 | $52,601,237 |
Peddie School Hightstown, NJ | $613,419,387 | $58,126,453 |
William Penn Charter School Inc Philadelphia, PA | $232,730,859 | $59,443,641 |
Trevor Day School New York, NY | $179,718,336 | $48,695,331 |
International College-Beirut Lebanon New York, NY | $209,567,353 | $51,574,911 |
Montclair Kimberly Academy Foundation Montclair, NJ | $86,504,754 | $51,589,426 |
Princeton Day School Inc Princeton, NJ | $166,237,830 | $58,529,058 |
Nightingale-Bamford School New York, NY | $159,201,980 | $40,384,072 |
Masters School Dobbs Ferry, NY | $186,890,779 | $50,762,923 |
Shady Side Academy Pittsburgh, PA | $133,159,735 | $43,966,956 |