Glenwood Academy
- Assets
- $83.7m
- Revenue
- $8.4m
- Investments
- $41.7m
- Employees
- 94
- Location
- Glenwood, IL
- Founding
- 11/1942
- Data as of
- 08/2022
- EIN
- 36-2167087
Organization Overview
Glenwood Academy is located in Glenwood, IL. The organization was established in 1942. 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 08/2022, Glenwood Academy employed 94 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Glenwood 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 08/2022, Glenwood Academy generated $8.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $3.9m during the year ending 08/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE A HIGH QUALITY EDUCATION AND RESIDENTIAL PROGRAM FOR STUDENTS FROM LOWER INCOME AND SINGLE-PARENT FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESIDENTIAL EDUCATION 2-8 GRADETO PROVIDE A HIGH QUALITY EDUCATION AND RESIDENTIAL PROGRAM FOR STUDENTS FROM LOWER INCOME AND SINGLE-PARENT FAMILITES, WHO SEEK A POSITIVE ALTERNATIVE TO HOME AND COMMUNITY SITUATIONS WHICH IMPEDE OPPORTUNITIES TO ACHIEVE THEIR POTENTIAL
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Hollie CEO & President | Officer | 40 | $359,737 |
Colleen Conlan-Carter VP Of Academic Affairs | Officer | 40 | $194,988 |
Kim Luckey VP Of Development | 40 | $162,632 | |
Charles Kudia CFO | Officer | 40 | $131,921 |
Pamela Lawlor Vice Chairman Of Student & Staff Services Committe | OfficerTrustee | 1 | $0 |
Mark Wight Vice Chairman Nominating & Governance Committee | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Morgan Birge & Associates It, Computers, Notebooks, Service Reques | 8/30/20 | $236,000 |
John Charles Midwest Thrall Center, Renovations | 8/30/20 | $139,034 |
Morgan Birge & Associates It, Computers, Notebooks, Service Reques | 8/30/20 | $236,000 |
John Charles Midwest Thrall Center, Renovations | 8/30/20 | $139,034 |
Total Automation Concepts Inc Hvac Controls Proj All 14 Cottages | 8/30/20 | $101,656 |
Total Automation Concepts Inc Hvac Controls Proj All 14 Cottages | 8/30/20 | $101,656 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $148,024 |
| Related organizations | $0 |
| Government grants | $19,861 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,734,651 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,902,536 |
| Total Program Service Revenue | $0 |
| Investment income | $734,389 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $99,463 |
| Net Income from Fundraising Events | $836,208 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,390,135 |
| 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. | $686,645 |
| Compensation of current officers, directors, key employees. | $437,682 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $515,948 |
| Pension plan accruals and contributions | $291,043 |
| Other employee benefits | $56,162 |
| Payroll taxes | $60,466 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,981 |
| Fees for services: Accounting | $60,530 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $129,462 |
| Fees for services: Other | $194,708 |
| Advertising and promotion | $135 |
| Office expenses | $90,170 |
| Information technology | $16,457 |
| Royalties | $0 |
| Occupancy | $205,410 |
| Travel | $1,512 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $107,951 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $816,762 |
| Insurance | $255,507 |
| All other expenses | $24,837 |
| Total functional expenses | $3,910,740 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,306,745 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,904,121 |
| Accounts receivable, net | $7,319 |
| 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 | $297,728 |
| Net Land, buildings, and equipment | $7,765,306 |
| Investments—publicly traded securities | $189,978 |
| Investments—other securities | $41,733,222 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $30,500,749 |
| Total assets | $83,705,168 |
| Accounts payable and accrued expenses | $2,285,298 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $15,928,211 |
| 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 | $32,359 |
| Total liabilities | $18,245,868 |
| Net assets without donor restrictions | $37,482,556 |
| Net assets with donor restrictions | $27,976,744 |
| 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 | $83,705,168 |
Grants Awarded
Over the last fiscal year, Glenwood Academy has awarded $355,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Glenwood, IL PURPOSE: Operational support | $255,000 |
Glenwood, IL PURPOSE: Operational support | $100,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Glenwood Academy has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
Garnetta Kramer Foundation Chicago, IL PURPOSE: CHARITABLE | $1,000 |
Endowment Analysis
| Beg. Balance | $36,054,944 |
| Earnings | -$8,225,232 |
| Net Contributions | $2,378,462 |
| Other Expense | $3,877,470 |
| Ending Balance | $26,330,704 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Chicago Charter School Corporation Chicago, IL | $14,482,747 | $19,743,627 |
Hope Educational & Research Center St Louis, MO | $196,443,117 | $45,382,338 |
Louisville Collegiate School Louisville, KY | $44,243,091 | $19,424,992 |
Canterbury School Inc Fort Wayne, IN | $14,789,368 | $17,058,422 |
Timothy Christian Schools Elmhurst, IL | $41,280,764 | $20,446,601 |
Kentucky Country Day School Inc Louisville, KY | $45,327,857 | $17,940,550 |
Milwaukee Science Education Consortium Inc Milwaukee, WI | $22,408,763 | $18,701,164 |
Prairie School Inc Racine, WI | $75,801,246 | $20,722,980 |
Sayre School Lexington, KY | $37,948,520 | $16,925,718 |
Lexington Christian Academy Inc Lexington, KY | $37,177,484 | $18,280,442 |
Lake Forest Country Day School Lake Forest, IL | $60,294,395 | $16,845,171 |
Indian Community School Inc Franklin, WI | $820,604,355 | $21,906,582 |