Totals
- Total revenue
- $20,387,255
- Total expenses
- $22,555,863
- Contributions and grants received
- $2,031,955
- Grants paid
- $4,285,091
- Program service revenue
- $17,143,973
- Investment income
- $1,061,294
- Other revenue
- $150,033
- Total assets, end of year
- $49,955,438
- Total liabilities, end of year
- $11,103,528
- Net assets or fund balances, end of year
- $38,851,910
- Program services expenses (Part IX)
- $17,269,603
- Management and general expenses
- $3,922,411
- Fundraising expenses
- $1,363,849
- Program service expenses (Part III)
- $17,269,603
Program services were 76.6% 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.
-
1f · All other contributions, gifts and grants
$2,031,955
-
1g · Noncash contributions included above
$391,370
-
2a · Program service revenue: TUITION AND SUMMER PROGRAMS
total $17,115,723 · related or exempt $17,115,723
-
2b · Program service revenue: AUXILIARY PROGRAMS
total $28,250 · related or exempt $28,250
-
3 · Investment income
total $388,438 · excluded $388,438
-
4 · Income from investment of tax-exempt bond proceeds
total $27,957 · excluded $27,957
-
6a · Gross rents
real property $34,066
-
6b · Less rental expenses
real property $8,003
-
6c · Rental income or loss
real property $26,063
-
6d · Net rental income or loss
total $26,063 · excluded $26,063
-
7a · Gross sales of assets other than inventory
securities $2,411,757
-
7b · Less cost or other basis and sales expenses
securities $1,766,858
-
7c · Gain or loss
securities $644,899
-
7d · Net gain or loss
total $644,899 · excluded $644,899
-
10a · Gross sales of inventory
$29,104
-
10b · Cost of goods sold
$0
-
10c · Net income from sales of inventory
total $29,104 · related or exempt $29,104
-
11a · Other revenue: MISC. REVENUE
total $88,342 · excluded $88,342
-
11b · Other revenue: VENDING MACHINES
total $6,524 · excluded $6,524
-
11e · Other revenue, total
$94,866
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $4,285,091 · program services $4,285,091
-
5 · Compensation of officers, directors and key employees
total $860,784 · program services $51,296 · management and general $758,192 · fundraising $51,296
-
6 · Compensation of disqualified persons
total $96,764 · program services $96,764
-
7 · Other salaries and wages
total $7,411,224 · program services $5,326,426 · management and general $1,434,743 · fundraising $650,055
-
8 · Pension plan contributions
total $427,313 · program services $304,246 · management and general $85,712 · fundraising $37,355
-
9 · Other employee benefits
total $1,232,916 · program services $880,353 · management and general $246,552 · fundraising $106,011
-
10 · Payroll taxes
total $613,758 · program services $407,536 · management and general $154,544 · fundraising $51,678
-
11b · Fees: legal
total $26,120 · management and general $26,120
-
11c · Fees: accounting
total $56,160 · management and general $56,160
-
11f · Fees: investment management
total $858 · management and general $858
-
11g · Fees: other
total $1,537,623 · program services $998,711 · management and general $352,668 · fundraising $186,244
-
12 · Advertising and promotion
total $88,097 · management and general $41,222 · fundraising $46,875
-
13 · Office expenses
total $902,145 · program services $666,581 · management and general $160,436 · fundraising $75,128
-
14 · Information technology
total $69,417 · program services $56,987 · management and general $389 · fundraising $12,041
-
16 · Occupancy
total $599,971 · program services $499,019 · management and general $79,364 · fundraising $21,588
-
17 · Travel
total $269,140 · program services $140,087 · management and general $66,762 · fundraising $62,291
-
19 · Conferences, conventions and meetings
total $4,297 · program services $4,297
-
20 · Interest
total $14,042 · program services $9,007 · management and general $3,958 · fundraising $1,077
-
22 · Depreciation, depletion and amortization
total $1,527,082 · program services $1,301,654 · management and general $177,221 · fundraising $48,207
-
23 · Insurance
total $192,544 · program services $163,751 · management and general $22,636 · fundraising $6,157
-
24a · Other expenses: FOOD AND DIETARY
total $1,841,653 · program services $1,841,653
-
24b · Other expenses: MISC. EXPENSES
total $186,975 · program services $37,036 · management and general $149,608 · fundraising $331
-
24c · Other expenses: STUDENT ACTIVITIES
total $91,915 · program services $91,915
-
24d · Other expenses: BAD DEBT EXPENSE
total $65,247 · management and general $65,247
-
24e · All other expenses
total $154,727 · program services $107,193 · management and general $40,019 · fundraising $7,515
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $4,937,513 · end of year $3,573,055
-
2 · Savings and temporary cash investments
beginning of year $5,408,906 · end of year $2,236,922
-
3 · Pledges and grants receivable
beginning of year $948,083 · end of year $926,448
-
4 · Accounts receivable
beginning of year $368,074 · end of year $294,627
-
8 · Inventories for sale or use
beginning of year $46,122 · end of year $61,456
-
9 · Prepaid expenses and deferred charges
beginning of year $426,312 · end of year $345,368
-
10a · Land, buildings and equipment: cost or other basis
$44,803,708
-
10b · Land, buildings and equipment: accumulated depreciation
$23,011,913
-
10c · Land, buildings and equipment, net
beginning of year $20,323,204 · end of year $21,791,795
-
11 · Investments: publicly traded securities
beginning of year $12,167,446 · end of year $12,204,132
-
12 · Investments: other securities
beginning of year $7,401,644 · end of year $8,521,635
-
17 · Accounts payable and accrued expenses
beginning of year $1,367,380 · end of year $757,271
-
19 · Deferred revenue
beginning of year $4,600,157 · end of year $4,896,759
-
20 · Tax-exempt bond liabilities
beginning of year $4,978,039 · end of year $5,145,165
-
23 · Secured mortgages and notes payable
beginning of year $374,299 · end of year $304,333
-
27 · Net assets without donor restrictions
beginning of year $21,651,888 · end of year $19,213,601
-
28 · Net assets with donor restrictions
beginning of year $19,055,541 · end of year $19,638,309
Mission and programs · 2022
Mission
CHESHIRE ACADEMY IS AN INTERNATIONALLY MINDED COLLEGE-PREPARATORY SCHOOL THAT CHALLENGES ITS STUDENTS TO MAXIMIZE THEIR POTENTIAL BY DEVELOPING THE CONFIDENCE, CHARACTER, AND CRITICAL THINKING SKILLS THAT ENABLE THEM TO THRIVE AS GLOBAL CITIZENS.
Activities or mission (Part I)
THE ACADEMY PROVIDES EDUCATIONAL ACTIVITIES TO APPROXIMATELY 360 STUDENTS GRADES 9-12, AS WELL AS A POSTGRADUATE YEAR.
-
CHESHIRE ACADEMY STUDENTS GROW INCREASINGLY CAPABLE OF INDEPENDENTLY OBSERVING, QUESTIONING, EXPLAINING, INTERPRETING, AND ANALYZING THE WORLD. OUR ACADEMIC PROCESS BEGINS WITH WHAT STUDENTS KNOW AND WANT TO KNOW, AND DEVELOPS ACTIVE LEARNERS WHO REFLECT ON THEIR GROWTH AND THE IMPLICATIONS OF THEIR LEARNING. LOCATED IN DOWNTOWN CHESHIRE, CHESHIRE ACADEMY IS A PRIVATE SCHOOL WITH A STUDENT BODY OF APPROXIMATELY 360 STUDENTS FOR GRADES 9-12 AND POSTGRADUATE.
Expenses $17,269,603 · Grants $4,285,091 · Revenue $17,173,077
As filed on the 2022 return.
Listed in Part VII
-
Jennifer FreedmanJENNIFER FREEDMAN
CHAIR
- Total calculated
- $0
- Hours/week
- 8
-
Ron BergamoRON BERGAMO
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 8
-
Catherine BonneauCATHERINE BONNEAU
SECRETARY
- Total calculated
- $0
- Hours/week
- 8
-
Jared PinskerJARED PINSKER
TREASURER
- Total calculated
- $0
- Hours/week
- 8
-
William AmpofoWILLIAM AMPOFO
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Angelina CasanovaANGELINA CASANOVA
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Bart DepretrilloBART DEPRETRILLO
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Mitchell HermanMITCHELL HERMAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Drew KevorkianDREW KEVORKIAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Suparna ModySUPARNA MODY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Brian OtisBRIAN OTIS
TRUSTEE, THRU AUG. 2022
- Total calculated
- $0
- Hours/week
- 2
-
Dr William PetitDR WILLIAM PETIT
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Praveen SavalgiPRAVEEN SAVALGI
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Todd SavageTODD SAVAGE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Ed VinalED VINAL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Murali VenkatramanMURALI VENKATRAMAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Julie AndersonJULIE ANDERSON
HEAD OF SCHOOL
- Total calculated
- $481,600
- From this org
- $394,922
- From related orgs
- $0
- Other
- $86,678
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $334,784
- Bonus
- $50,000
- Other
- $10,138
- Deferred
- $20,700
- Nontaxable benefits
- $65,978
- Filer's total
- $481,600
-
Matthew PiechotaMATTHEW PIECHOTA
CHIEF FINANCIAL OFFICER
- Total calculated
- $203,153
- From this org
- $154,111
- From related orgs
- $0
- Other
- $49,042
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $153,902
- Bonus
- $0
- Other
- $209
- Deferred
- $9,951
- Nontaxable benefits
- $39,091
- Filer's total
- $203,153
-
Sara Lynn LeavenworthSARA LYNN LEAVENWORTH
DIRECTOR OF ADMISSION
- Total calculated
- $194,917
- From this org
- $169,931
- From related orgs
- $0
- Other
- $24,986
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $169,590
- Bonus
- $0
- Other
- $341
- Deferred
- $10,404
- Nontaxable benefits
- $14,582
- Filer's total
- $194,917
-
Amy BroughAMY BROUGH
CHIEF ADVANCEMENT OFFICER
- Total calculated
- $139,957
- From this org
- $121,052
- From related orgs
- $0
- Other
- $18,905
- Hours/week
- 50
-
Barbara DavisBARBARA DAVIS
DIRECTOR OF DEVELOPMENT
- Total calculated
- $191,518
- From this org
- $129,592
- From related orgs
- $0
- Other
- $61,926
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $129,413
- Bonus
- $0
- Other
- $179
- Deferred
- $7,883
- Nontaxable benefits
- $54,043
- Filer's total
- $191,518
-
Kenneth MasonKENNETH MASON
CHIEF MARKETING OFFICER
- Total calculated
- $157,297
- From this org
- $119,208
- From related orgs
- $0
- Other
- $38,089
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $118,805
- Bonus
- $0
- Other
- $403
- Deferred
- $7,678
- Nontaxable benefits
- $30,411
- Filer's total
- $157,297
-
Nathan WrightNATHAN WRIGHT
DIRECTOR OF INST. RESEARCH
- Total calculated
- $130,878
- From this org
- $115,598
- From related orgs
- $0
- Other
- $15,280
- Hours/week
- 50
-
Kristin WelageKRISTIN WELAGE
DIRECTOR OF HUMAN RESOURCES
- Total calculated
- $131,953
- From this org
- $110,642
- From related orgs
- $0
- Other
- $21,311
- Hours/week
- 50
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 · Travel for companions
- 1a · Housing allowance or residence for personal use
- 1a · Personal services (maid, chauffeur, chef)
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Compensation committee
- 3 · Form 990 of other organizations
- 3 · Approval by the board or compensation committee
- 4a · Severance or change-of-control payment
- 7 · Other non-fixed payments
Answered no
- 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
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- PART I, LINE 1A
- THE HEAD OF SCHOOL RECEIVED COMPANION TRAVEL PAYMENTS OR REIMBURSEMENTS DURING THE FISCAL YEAR, AS STIPULATED IN HER EMPLOYMENT AGREEMENT. THE BENEFIT IS CONSIDERED NONTAXABLE COMPENSATION AS THE COMPANION IS ALSO AN EMPLOYEE OF THE ORGANIZATION AND TRAVELED FOR BUSINESS PURPOSES. HOUSING BENEFITS PROVIDED TO THE HEAD OF SCHOOL AND DIRECTOR OF DEVELOPMENT, ARE TREATED AS NON-TAXABLE COMPENSATION UNDER INTERNAL REVENUE CODE SECTION 119. THESE PERSONS ARE REQUIRED TO LIVE ON SCHOOL PREMISES AS A CONDITION OF THEIR EMPLOYMENT, AND THE HOUSING BENEFITS ARE PROVIDED FOR THE CONVENIENCE OF THE EMPLOYER. THE AMOUNTS ARE INCLUDED IN PART II, COLUMN (D). - JULIE ANDERSON, HEAD OF SCHOOL - $36,000 - BARABARA DAVIS, DIRECTOR OF DEVELOPMENT - $30,000
- PART I, LINE 4A
- AMY BROUGH, CHIEF ADVANCEMENT OFFICER, RECEIVED A SEVERANCE PAYMENT OF $32,004 INCLUDED IN HER 2022 W-2.
- PART I, LINE 7
- INDIVIDUALS INCLUDED IN SCHEDULE J, PART II RECEIVED A DISCRETIONARY BONUS DURING CALENDAR YEAR 2022, WHICH WAS INCLUDED IN COLUMN B(II) HEREIN AND IN THEIR 2022 FORM W-2, BOX 5, AS TAXABLE MEDICARE WAGES.
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.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 6 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202303109349303960
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