Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $3,165

• 1e · Government grants (contributions)

  $208,371

• 1f · All other contributions, gifts and grants

  $736,255

• 1g · Noncash contributions included above

  $116,921

• 2a · Program service revenue: Tuition

  total $4,561,670 · related or exempt $4,561,670

• 2b · Program service revenue: Food Service

  total $70,904 · related or exempt $70,904

• 2c · Program service revenue: Other Program Revenue

  total $60,358 · related or exempt $60,358

• 3 · Investment income

  total $133,446 · excluded $133,446

• 7a · Gross sales of assets other than inventory

  securities $3,790,598 · other assets $133,000

• 7b · Less cost or other basis and sales expenses

  securities $4,500,707 · other assets $140,487

• 7c · Gain or loss

  securities -$710,109 · other assets -$7,487

• 7d · Net gain or loss

  total -$717,596 · excluded -$717,596

• 8a · Fundraising events: gross income

  $56,032

• 8a · Fundraising events: contributions included on line 1c

  $3,165

• 8b · Fundraising events: direct expenses

  $20,304

• 8c · Net income from fundraising events

  total $35,728 · excluded $35,728

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $166,342 · program services $166,342

• 5 · Compensation of officers, directors and key employees

  total $251,718 · management and general $251,718

• 7 · Other salaries and wages

  total $3,513,994 · program services $2,729,299 · management and general $641,180 · fundraising $143,515

• 8 · Pension plan contributions

  total $85,277 · program services $80,873 · management and general $4,404

• 9 · Other employee benefits

  total $649,068 · program services $608,797 · management and general $40,271

• 10 · Payroll taxes

  total $124,405 · program services $83,328 · management and general $30,333 · fundraising $10,744

• 11b · Fees: legal

  total $27,434 · program services $1,062 · management and general $26,372

• 11c · Fees: accounting

  total $26,231 · program services $17,000 · management and general $9,231

• 11f · Fees: investment management

  total $19,839 · management and general $19,839

• 11g · Fees: other

  total $212,057 · program services $55,818 · management and general $130,603 · fundraising $25,636

• 12 · Advertising and promotion

  total $2,007 · program services $570 · management and general $1,437

• 13 · Office expenses

  total $83,567 · program services $41,369 · management and general $34,782 · fundraising $7,416

• 14 · Information technology

  total $63,499 · program services $21,895 · management and general $24,743 · fundraising $16,861

• 16 · Occupancy

  total $211,936 · program services $211,936

• 17 · Travel

  total $31,340 · program services $25,521 · management and general $5,819

• 20 · Interest

  total $48,697 · management and general $48,697

• 22 · Depreciation, depletion and amortization

  total $144,115 · program services $131,581 · management and general $12,534

• 23 · Insurance

  total $98,889 · program services $98,823 · management and general $66

• 24a · Other expenses: Education Programming

  total $289,726 · program services $289,577 · management and general $149

• 24b · Other expenses: Miscellaneous

  total $133,898 · program services $40,026 · management and general $55,752 · fundraising $38,120

• 24c · Other expenses: Food Purchases

  total $130,391 · program services $130,391

• 24d · Other expenses: Equipment Rental & Main

  total $111,106 · program services $104,384 · management and general $6,722

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $460,058 · end of year $840,789

• 2 · Savings and temporary cash investments

  beginning of year $733,015 · end of year $429,795

• 3 · Pledges and grants receivable

  beginning of year $40,000 · end of year $13,000

• 4 · Accounts receivable

  beginning of year $314,600 · end of year $172,994

• 9 · Prepaid expenses and deferred charges

  beginning of year $189,812 · end of year $101,800

• 10a · Land, buildings and equipment: cost or other basis

  $10,290,186

• 10b · Land, buildings and equipment: accumulated depreciation

  $4,315,316

• 10c · Land, buildings and equipment, net

  beginning of year $5,998,185 · end of year $5,974,870

• 11 · Investments: publicly traded securities

  beginning of year $6,581,083 · end of year $6,456,213

• 17 · Accounts payable and accrued expenses

  beginning of year $676,515 · end of year $531,890

• 18 · Grants payable

  beginning of year $327,179 · end of year $323,967

• 19 · Deferred revenue

  beginning of year $24,140 · end of year $15,703

• 21 · Escrow or custodial account liability

  beginning of year $61,691 · end of year $65,533

• 23 · Secured mortgages and notes payable

  beginning of year $554,857 · end of year $503,645

• 24 · Unsecured notes and loans payable

  beginning of year $300,000 · end of year $350,000

• 27 · Net assets without donor restrictions

  beginning of year $2,857,335 · end of year $2,446,276

• 28 · Net assets with donor restrictions

  beginning of year $9,515,036 · end of year $9,752,447

The filer's explanations (Part III)

Form 990, Part VII, Line 5

George Stevens Academy paid Accounting Services of Maine, LLC for services provided by Rachel Grivois. George Stevens Academy is not able to determine the compensation paid to Rachel Grivois, only the amount paid to Accounting Services of Maine, LLC.