Athens Academy Inc
- Assets
- $65.7m
- Revenue
- $22.6m
- Investments
- $0.0
- Employees
- 348
- Location
- Athens, GA
- Founding
- 12/1966
- Data as of
- 07/2023
- EIN
- 58-6055242
Organization Overview
Athens Academy Inc is located in Athens, GA. The organization was established in 1966. 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 07/2023, Athens Academy Inc employed 348 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Athens 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 07/2023, Athens Academy Inc generated $22.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $21.7m during the year ending 07/2023. While expenses have increased by 3.4% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
ATHENS ACADEMY (THE SCHOOL) SEEKS EXCELLENCE WITH HONOR IN ALL ITS PURSUITS. ATHENS ACADEMY IS A COEDUCATIONAL, INDEPENDENT, COLLEGE PREPARATORY DAY SCHOOL THAT OFFERS A TRADITIONAL LIBERAL ARTS CURRICULUM AND INNOVATIVE APPROACHES TO TEACHING AND LEARNING. THE SCHOOL SEEKS STUDENTS FROM DIVERSE
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING A QUALITY EDUCATION TO THE STUDENTS ATTENDING THE ACADEMY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Thorsen Head Of School | Officer | 40 | $358,657 |
J Robert Chambers Former Head Of School | 0 | $38,000 | |
Carl Nichols Chairman | Trustee | 1 | $0 |
Bill Trigleth Vice Chairman | Trustee | 1 | $0 |
Dick Ferguson Treasurer | Trustee | 1 | $0 |
Victor Wilson Secretary | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Anthem Health Insurance | 7/30/23 | $1,541,187 |
Walton Emc Natural Gas & Electricity | 7/30/23 | $436,364 |
Southern Mechanical Hvac Contractors Hvac Maintenance | 7/30/23 | $382,948 |
Track Surfaces Co Track Resurfacing | 7/30/23 | $352,786 |
Krg Food Service Group Inc Food Service | 7/30/23 | $319,388 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,396,712 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,396,712 |
| Total Program Service Revenue | $19,111,537 |
| Investment income | $1,490,001 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$32,956 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$3,291 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $22,604,482 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,955,431 |
| Pension plan accruals and contributions | $363,142 |
| Other employee benefits | $2,137,540 |
| Payroll taxes | $672,147 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,198 |
| Fees for services: Accounting | $612,533 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $36,730 |
| Fees for services: Other | $5,535 |
| Advertising and promotion | $0 |
| Office expenses | $8,854 |
| Information technology | $335,919 |
| Royalties | $0 |
| Occupancy | $495,263 |
| Travel | $6,906 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,959 |
| Interest | $213,169 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,694,279 |
| Insurance | $163,613 |
| All other expenses | $4,530,617 |
| Total functional expenses | $21,658,134 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,767,875 |
| Savings and temporary cash investments | $4,023,206 |
| Pledges and grants receivable | $1,049,812 |
| Accounts receivable, net | $255,828 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $7,112 |
| Inventories for sale or use | $219,192 |
| Prepaid expenses and deferred charges | $533,868 |
| Net Land, buildings, and equipment | $35,600,617 |
| Investments—publicly traded securities | $15,675,493 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $585,838 |
| Total assets | $65,718,841 |
| Accounts payable and accrued expenses | $4,120,860 |
| Grants payable | $0 |
| Deferred revenue | $9,690,413 |
| Tax-exempt bond liabilities | $6,948,728 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $329,857 |
| Unsecured mortgages and notes payable | $53,816 |
| Other liabilities | $190,778 |
| Total liabilities | $21,334,452 |
| Net assets without donor restrictions | $33,928,212 |
| Net assets with donor restrictions | $10,456,177 |
| 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 | $65,718,841 |