Durham Academy Inc
- Assets
- $112.4m
- Revenue
- $40.9m
- Investments
- $2.1m
- Employees
- 590
- Location
- Durham, NC
- Founding
- 01/1961
- Data as of
- 06/2022
- EIN
- 56-0538019
Organization Overview
Durham Academy Inc is located in Durham, NC. The organization was established in 1961. 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 06/2022, Durham Academy Inc employed 590 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Durham Academy 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 06/2022, Durham Academy Inc generated $40.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $36.2m during the year ending 06/2022. While expenses have increased by 4.8% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF DURHAM ACADEMY IS TO PROVIDE EACH STUDENT AN EDUCATION THAT WILL ENABLE HIM OR HER TO LIVE A MORAL, HAPPY AND PRODUCTIVE LIFE. THE DEVELOPMENT OF INTELLECT IS CENTRAL TO SUCH A LIFE AND, THUS, INTELLECTUAL ENDEAVOR AND GROWTH ARE THE PRIMARY WORK OF THE SCHOOL. THE ACQUISITION OF KNOWLEDGE; THE DEVELOPMENT OF SKILLS, CRITICAL JUDGMENT AND INTELLECTUAL CURIOSITY; AND INCREASED UNDERSTANDING ARE THE GOALS OF THE SCHOOL'S ACADEMIC PROGRAM.
Describe the Organization's Program Activity:
DURHAM ACADEMY PROVIDES SCHOOLING FOR PRE-SCHOOL THROUGH TWELFTH GRADE STUDENTS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Caroline Rogers Chair | OfficerTrustee | 1 | $0 |
Garrett Putman Vice Chair | OfficerTrustee | 1 | $0 |
Kavita Nayar Secretary | OfficerTrustee | 1 | $0 |
Edwin Poston Treasurer | OfficerTrustee | 1 | $0 |
Beth Anderson Board Member | Trustee | 1 | $0 |
Roger Brooks Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cenplex Building Services Llc Cleaning | 6/29/22 | $491,316 |
Cannon Architects Architecture | 6/29/22 | $495,996 |
Ct Wilson Construction Co Construction | 6/29/22 | $5,279,238 |
Honeywell International Inc Heating And Cooling Repair | 6/29/22 | $210,034 |
Productions Unlimited Inc Installation And Maintenance Of Teatrica | 6/29/22 | $121,475 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $67,236 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,629,176 |
| Noncash contributions included in lines 1a–1f | $342,506 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,696,412 |
| Total Program Service Revenue | $36,883,035 |
| Investment income | $86,386 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $38,224 |
| Net Gain/Loss on Asset Sales | $30,135 |
| Net Income from Fundraising Events | $7,032 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $80,059 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $40,893,092 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,632,956 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,917,551 |
| Compensation of current officers, directors, key employees. | $480,274 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $15,838,438 |
| Pension plan accruals and contributions | $899,150 |
| Other employee benefits | $3,684,671 |
| Payroll taxes | $1,434,248 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $31,686 |
| Fees for services: Accounting | $63,182 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,000 |
| Advertising and promotion | $54,331 |
| Office expenses | $446,224 |
| Information technology | $421,022 |
| Royalties | $0 |
| Occupancy | $2,221,279 |
| Travel | $337,967 |
| 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 | $2,804,811 |
| Insurance | $137,235 |
| All other expenses | $179,940 |
| Total functional expenses | $36,185,687 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,300,598 |
| Savings and temporary cash investments | $2,066,345 |
| Pledges and grants receivable | $3,922,059 |
| Accounts receivable, net | $434,698 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $27,869 |
| Prepaid expenses and deferred charges | $722,005 |
| Net Land, buildings, and equipment | $55,726,850 |
| Investments—publicly traded securities | $45,099,079 |
| Investments—other securities | $2,109,628 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $112,409,131 |
| Accounts payable and accrued expenses | $1,861,133 |
| Grants payable | $0 |
| Deferred revenue | $4,023,862 |
| Tax-exempt bond liabilities | $17,979,442 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $7,500,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $31,364,437 |
| Net assets without donor restrictions | $62,335,594 |
| Net assets with donor restrictions | $18,709,100 |
| 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 | $112,409,131 |