Totals
- Total revenue
- $15,378,384
- Total expenses
- $18,795,112
- Contributions and grants received
- $1,434,977
- Grants paid
- $3,190,561
- Program service revenue
- $13,055,384
- Investment income
- $515,275
- Other revenue
- $372,748
- Total assets, end of year
- $36,961,071
- Total liabilities, end of year
- $5,898,859
- Net assets or fund balances, end of year
- $31,062,212
- Program services expenses (Part IX)
- $14,602,443
- Management and general expenses
- $3,636,666
- Fundraising expenses
- $556,003
- Program service expenses (Part III)
- $14,602,443
Program services were 77.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1c · Fundraising events
$10,000
-
1f · All other contributions, gifts and grants
$1,424,977
-
1g · Noncash contributions included above
$67,436
-
2a · Program service revenue: Board and Tuition
total $12,344,308 · related or exempt $12,344,308
-
2b · Program service revenue: Student Services
total $525,325 · related or exempt $525,325
-
2c · Program service revenue: Laundry and Dry Cleaning
total $155,808 · related or exempt $155,808
-
2d · Program service revenue: Student Fees
total $29,943 · related or exempt $29,943
-
3 · Investment income
total $338,336 · excluded $338,336
-
6a · Gross rents
real property $200,175
-
6b · Less rental expenses
real property $0
-
6c · Rental income or loss
real property $200,175
-
6d · Net rental income or loss
total $200,175 · excluded $200,175
-
7a · Gross sales of assets other than inventory
securities $528,999
-
7b · Less cost or other basis and sales expenses
securities $343,590 · other assets $8,470
-
7c · Gain or loss
securities $185,409 · other assets -$8,470
-
7d · Net gain or loss
total $176,939 · excluded $176,939
-
8a · Fundraising events: gross income
$0
-
8a · Fundraising events: contributions included on line 1c
$10,000
-
8b · Fundraising events: direct expenses
$1,203
-
8c · Net income from fundraising events
total -$1,203 · excluded -$1,203
-
10a · Gross sales of inventory
$460,749
-
10b · Cost of goods sold
$367,504
-
10c · Net income from sales of inventory
total $93,245 · related or exempt $93,245
-
11a · Other revenue: Miscellaneous
total $52,429 · excluded $52,429
-
11b · Other revenue: Outside Group Income
total $20,602 · excluded $20,602
-
11c · Other revenue: Flight Camp
total $7,500 · related or exempt $7,500
-
11e · Other revenue, total
$80,531
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $3,190,561 · program services $3,190,561
-
5 · Compensation of officers, directors and key employees
total $281,250 · program services $221,588 · management and general $46,829 · fundraising $12,833
-
7 · Other salaries and wages
total $6,444,302 · program services $5,077,264 · management and general $1,072,994 · fundraising $294,044
-
8 · Pension plan contributions
total $166,359 · program services $131,069 · management and general $27,699 · fundraising $7,591
-
9 · Other employee benefits
total $1,023,883 · program services $806,686 · management and general $170,479 · fundraising $46,718
-
10 · Payroll taxes
total $480,195 · program services $378,330 · management and general $79,954 · fundraising $21,911
-
11b · Fees: legal
total $373,645 · program services $23,362 · management and general $350,283
-
11c · Fees: accounting
total $73,663 · program services $4,606 · management and general $69,057
-
11g · Fees: other
total $559,552 · program services $181,052 · management and general $378,500
-
12 · Advertising and promotion
total $506,288 · management and general $506,288
-
13 · Office expenses
total $320,307 · program services $281,972 · management and general $22,536 · fundraising $15,799
-
14 · Information technology
total $256,136 · program services $179,612 · management and general $62,850 · fundraising $13,674
-
16 · Occupancy
total $520,222 · program services $408,745 · management and general $87,973 · fundraising $23,504
-
17 · Travel
total $210,000 · program services $198,297 · management and general $5,609 · fundraising $6,094
-
20 · Interest
total $92,052 · program services $72,525 · management and general $15,327 · fundraising $4,200
-
22 · Depreciation, depletion and amortization
total $1,231,913 · program services $970,585 · management and general $205,118 · fundraising $56,210
-
23 · Insurance
total $327,163 · program services $263,057 · management and general $50,317 · fundraising $13,789
-
24a · Other expenses: Food
total $1,547,709 · program services $1,547,709
-
24b · Other expenses: Repairs and Maintenance
total $427,324 · program services $335,755 · management and general $72,263 · fundraising $19,306
-
24c · Other expenses: Bad Debts
total $116,432 · program services $45,180 · management and general $67,670 · fundraising $3,582
-
24d · Other expenses: Dues and Subscriptions
total $101,447 · program services $73,117 · management and general $28,330
-
24e · All other expenses
total $544,709 · program services $211,371 · management and general $316,590 · fundraising $16,748
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $5,206 · end of year $5,200
-
2 · Savings and temporary cash investments
beginning of year $3,294,803 · end of year $1,867,430
-
3 · Pledges and grants receivable
beginning of year $4,450,216 · end of year $1,049,916
-
4 · Accounts receivable
beginning of year $104,188 · end of year $282,184
-
7 · Other notes and loans receivable
beginning of year $18,859 · end of year $25,866
-
8 · Inventories for sale or use
beginning of year $316,992 · end of year $384,532
-
9 · Prepaid expenses and deferred charges
beginning of year $410,087 · end of year $310,183
-
10a · Land, buildings and equipment: cost or other basis
$43,379,276
-
10b · Land, buildings and equipment: accumulated depreciation
$23,179,905
-
10c · Land, buildings and equipment, net
beginning of year $19,539,276 · end of year $20,199,371
-
11 · Investments: publicly traded securities
beginning of year $10,919,621 · end of year $11,929,394
-
15 · Other assets
beginning of year $650,028 · end of year $906,995
-
17 · Accounts payable and accrued expenses
beginning of year $963,985 · end of year $1,182,213
-
19 · Deferred revenue
beginning of year $1,824,929 · end of year $1,165,091
-
23 · Secured mortgages and notes payable
beginning of year $3,191,244 · end of year $3,038,513
-
25 · Other liabilities
beginning of year $271,267 · end of year $513,042
-
27 · Net assets without donor restrictions
beginning of year $18,947,067 · end of year $17,711,767
-
28 · Net assets with donor restrictions
beginning of year $14,510,784 · end of year $13,350,445
Mission and programs · 2023
Mission
Randolph-Macon Academy is a co-ed private school for grades 6-12. We offer a superior university-preparatory curriculum with military values preparing graduates to pursue lives of meaning and success. Every year, 100% of our graduates are accepted to the best universities around the world with the Class of 2024 graduating 65 students who earned over $16 million in scholarships.
Activities or mission (Part I)
Randolph-Macon Academy is a college-preparatory school using military values to prepare qualified young people for leadership roles in the United States and around the world.
-
All program service expenses are directly related to activities necessary in operating a boarding education institution.
Expenses $14,602,443 · Grants $3,190,561 · Revenue $13,156,129
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Harry Austin
Chair
- Total calculated
- $0
- Hours/week
- 1
-
Lucy Hooper
Chair-Elect
- Total calculated
- $0
- Hours/week
- 1
-
John Simar
Vice Chair
- Total calculated
- $0
- Hours/week
- 1
-
Patty Kennan
Secretary
- Total calculated
- $0
- Hours/week
- 1
-
Alonzo Neese III
Treasurer
- Total calculated
- $0
- Hours/week
- 1
-
Victor Gomez
Ex-Officio
- Total calculated
- $0
- Hours/week
- 1
-
Bryan Moore
Ex-Officio
- Total calculated
- $0
- Hours/week
- 1
-
Valerie Wilson
Ex-Officio
- Total calculated
- $0
- Hours/week
- 1
-
Eric Anderson
Investment Committee Chair
- Total calculated
- $0
- Hours/week
- 1
-
Tess Hegedus
Strategic Planning Ad-Hoc
- Total calculated
- $0
- Hours/week
- 1
-
Doug Huthwaite
Finance and Audit Committe
- Total calculated
- $0
- Hours/week
- 1
-
Bill Bersing
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Brian Bogart
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Mark Brown
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Heather Grossman
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
David Link
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Ed Morris
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Katie Tewell
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
David Wesley
President
- Total calculated
- $281,250
- From this org
- $268,810
- From related orgs
- $0
- Other
- $12,440
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $255,292
- Bonus
- $5,000
- Other
- $8,518
- Deferred
- $12,440
- Nontaxable benefits
- $0
- Filer's total
- $281,250
-
Sung Chu
Dir. of Enrollment Mgmt.
- Total calculated
- $177,990
- From this org
- $177,990
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $177,990
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $177,990
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 1a · Housing allowance or residence for personal use
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Form 990 of other organizations
- 3 · Written employment contract
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- Part I, Line 1a
- Among other benefits, the president receives housing allowance in lieu of campus housing.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
Randolph-Macon Interest Holdings LLC
Holding company · VA · income $0 · assets $0
Directly controlled by Randolph-Macon Academy
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 13 January 2025
- IRS schema version
- 2023v6.0
- Source object
- 202510159349300516
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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