Civic Intelligence

Foxcroft Academy Trustees

990 • Fiscal year 2014 • EIN 01-0246278

Jul 01, 2013 to Jun 30, 2014 • Filed on Feb 11, 2015

975 West Main StDovr Foxcroft, ME 04426

(207) 564-8351

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

73rd percentile

0.54x

Higher debt load relative to assets than 73% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Liabilities / Revenue

84th percentile

1.70x

Higher debt load relative to revenue than 84% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Net Margin

70th percentile

12%

Higher net margin than 70% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Top Officer Pay

34th percentile

$187,666

Higher top officer pay than 34% of similar nonprofits.

Top officer pay equals 2.0% of source-year revenue.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Asset Growth

50th percentile

4.2%

Faster asset growth than 50% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Assets

Up

$29,619,532

Up $1,193,797 (+4.2%) from 2013

Net Assets

Up

$13,538,433

Up $1,745,722 (+15%) from 2013

Liabilities

Down

$16,081,099

Down $551,925 (-3.3%) from 2013

Revenue

$9,442,840

No earlier filing loaded for comparison.

Expenses

Up

$8,302,819

Up $585,735 (+7.6%) from 2013

Net Income

$1,140,021

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$40M$30M$20M$10M$0Assets 2010: $21,631,509Liabilities 2010: $13,017,447Net Assets 2010: $8,614,0622010Assets 2011: $23,562,921Liabilities 2011: $13,418,073Net Assets 2011: $10,144,8482011Assets 2012: $28,630,792Liabilities 2012: $17,907,260Net Assets 2012: $10,723,5322012Assets 2013: $28,425,735Liabilities 2013: $16,633,024Net Assets 2013: $11,792,7112013Assets 2014: $29,619,532Liabilities 2014: $16,081,099Net Assets 2014: $13,538,4332014Assets 2015: $26,642,745Liabilities 2015: $15,771,859Net Assets 2015: $10,870,8862015Assets 2016: $26,557,444Liabilities 2016: $15,993,579Net Assets 2016: $10,563,8652016Assets 2017: $26,951,929Liabilities 2017: $14,862,790Net Assets 2017: $12,089,1392017Assets 2018: $27,181,891Liabilities 2018: $14,351,246Net Assets 2018: $12,830,6452018Assets 2019: $29,177,325Liabilities 2019: $13,903,450Net Assets 2019: $15,273,8752019Assets 2020: $28,332,163Liabilities 2020: $14,704,604Net Assets 2020: $13,627,5592020Assets 2021: $30,930,930Liabilities 2021: $14,438,656Net Assets 2021: $16,492,2742021Assets 2022: $30,062,383Liabilities 2022: $15,499,442Net Assets 2022: $14,562,9412022Assets 2023: $31,517,500Liabilities 2023: $15,757,931Net Assets 2023: $15,759,5692023Assets 2024: $29,734,366Liabilities 2024: $14,787,949Net Assets 2024: $14,946,4172024

Highlighted filing

2014

Assets$29,619,532
Liabilities$16,081,099
Net Assets$13,538,433

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0-$5.0MExpenses 2010: $6,533,8012010Expenses 2011: $7,024,9822011Expenses 2012: $7,481,2242012Expenses 2013: $7,717,0842013Revenue 2014: $9,442,840Expenses 2014: $8,302,819Net Income 2014: $1,140,0212014Revenue 2015: $7,145,170Expenses 2015: $9,593,544Net Income 2015: -$2,448,3742015Revenue 2016: $9,422,749Expenses 2016: $8,972,715Net Income 2016: $450,0342016Revenue 2017: $9,983,250Expenses 2017: $9,852,546Net Income 2017: $130,7042017Revenue 2018: $10,086,951Expenses 2018: $10,057,511Net Income 2018: $29,4402018Revenue 2019: $13,292,978Expenses 2019: $10,652,642Net Income 2019: $2,640,3362019Revenue 2020: $9,587,301Expenses 2020: $10,567,796Net Income 2020: -$980,4952020Revenue 2021: $10,035,137Expenses 2021: $10,205,712Net Income 2021: -$170,5752021Revenue 2022: $11,053,374Expenses 2022: $11,295,783Net Income 2022: -$242,4092022Revenue 2023: $12,891,112Expenses 2023: $12,215,948Net Income 2023: $675,1642023Revenue 2024: $11,282,594Expenses 2024: $12,515,774Net Income 2024: -$1,233,1802024

Highlighted filing

2014

Revenue$9,442,840
Expenses$8,302,819
Net Income$1,140,021
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Feb 11, 2015
Return Version
2013v4.0
Gross Receipts
$14,977,370
Mission and Program Overview

Mission

Foxcroft academy is an independent high school founded in 1823 on the principle that knowledge is power. Foxcroft academy is committed to providing students from central maine and beyond a rigorous college and career preparatory academic curriculum designed to produce informed and active global citizens. Foxcroft academy will furnish all students with the underlying skills needed for post-secondary success while embracing its safe community and natural environment.

SECONDARY EDUCATION

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$15,162,801$15,321,919▲ $159,118
Investments in Publicly Traded Securities$9,027,327$10,320,766▲ $1,293,439
Intangible Assets$2,233,958$2,139,942▼ $94,016
Cash and Non-Interest-Bearing Accounts$1,742,850$1,669,343▼ $73,507
Prepaid Expenses and Deferred Charges$102,066$70,978▼ $31,088
Accounts Receivable$118,066$62,365▼ $55,701
Pledges and Grants Receivable$29,113$24,886▼ $4,227
Inventories for Sale or Use$9,554$9,333▼ $221
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Total Assets$28,425,735$29,619,532▲ $1,193,797
Other Assets Total-$0-
Liabilities
Tax Exempt Bond Liabilities$12,000,000$11,750,000▼ $250,000
Mortgage Notes Payable Secured by Investment Property$3,167,010$3,037,424▼ $129,586
Deferred Revenue$851,372$698,056▼ $153,316
Accounts Payable and Accrued Expenses$614,642$595,619▼ $19,023
Total Liabilities$16,633,024$16,081,099▼ $551,925
Net Assets / Fund Balance
Unrestricted Net Assets$8,748,963$9,958,048▲ $1,209,085
Permanently Rstr Net Assets$2,246,167$2,276,762▲ $30,595
Temporarily Rstr Net Assets$797,581$1,303,623▲ $506,042
Total Net Assets Fund Balance$11,792,711$13,538,433▲ $1,745,722
Total Liabilities and Net Assets / Fund Balance$28,425,735$29,619,532▲ $1,193,797

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$14,250,434$2,434,683$16,685,117
Leasehold Improvements$741,826$1,136,915$1,878,741
Equipment$205,029$662,981$868,010
Land$124,630-$124,630

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$3,926,639$30,595▲ $602,434$80,460$4,385,062
2013$3,642,682$83,336▲ $403,027$125,225$3,926,639
2012$3,721,856$101,037▼ $37,547$85,892$3,642,682
2011$3,091,116$87,917▲ $698,336$79,119$3,721,856
2010$182,943$298,878▲ $51,026$12,600$3,091,116
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Arnold ShoreyHead of SchoolFT$165,908$21,758$187,666
Daniel WhiteCFOFT$96,740$30,383$127,123

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Abm Mechanical INCContractor-$202,203
Rowells GarageContractor/bus Servi-$107,527
G&e RoofingContractor-$104,059
Revenue and Support

Revenue Composition

Contributions and Grants
$514,055
Program Service Revenue
$8,009,551
Investment Income
$545,566
Other Revenue
$373,668
All Other Contributions
$514,055
Change in Net Assets
$1,140,021

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,399,292
Revenue Not Reported on Financial Statements
$43,548
Revenue Not Reported on Form 990
$605,701
Total Revenue per Audited Statements
$10,004,993
Total Revenue per Form 990
$9,442,840
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,593,624
Other Expenses$3,709,195
Total Fundraising Expense$99,045
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,853,063$304,117$75,945$3,233,125
Other Employee Benefits$788,849$133,377-$922,226
All Other Expenses$108,774$265,030-$373,804
Depreciation Depletion$371,684--$371,684
Occupancy$358,479$7,596-$366,075
Current Officers, Directors, Trustees, and Key Employees$23,100$215,594$23,100$261,794
Interest$227,773--$227,773
Other Expenses$301,962$148,713-$148,713
Fees for Services Other-$117,773-$117,773
Payroll Taxes$81,412$32,759-$114,171
Information Technology$76,637$310-$76,947
Pension Plan Contributions$43,093$19,215-$62,308
Fees for Service Investment Mgmnt Fees-$43,548-$43,548
Insurance$37,724--$37,724
Fees for Services Accounting-$16,090-$16,090
Office Expenses-$15,420-$15,420
Fees for Services Legal-$8,704-$8,704
Total Functional Expenses$6,875,528$1,328,246$99,045$8,302,819

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$8,302,819
Expenses per Audited Statements$8,259,271
Total Expenses per Audited Statements$8,259,271
Expenses Not Reported on Financial Statements$43,548
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
A01-03920062008-06-23$12,000,000Bond pay off and build dormitory

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$12,000,000--$237,445

Bond Financing Compliance

No rebate due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

Head of school, cfo, business manager, president, treasurer and chair of the finance committee are given copies of the form 990 in time for their comments prior to filing.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Officers, directors, trustees and key employees are required to submit annual written disclosures of conflicts or potential conflicts of interest.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

Salaries are in comparable range with data from isanne and nais.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

Salaries are in comparable range with data from isanne and nais.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Such information is provided upon request.

Filing and Contact Details

Filer

EIN
01-0246278
Phone
2075648351

Signing Officer

Name
Daniel N White
Title
CFO
Signed
2015-02-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kenneth Hews
Formed
1823
Legal Domicile
Me
Voting Board Members
21
Independent Board Members
21
Employees
151
Volunteers
20

Preparer

Preparer
Julianne K Archer
Phone
2079473325
Supplemental Narrative

Additional Explanations

NUMBER OF EMPLOYEES ~ PART 1, LINE 5

Although there were 151 w-2s issued for the calendar year ended 12/31/13, there are 85 full-time equivalent employees.

Financial Statement Notes

Part V, Line 4: Intended uses of the endowment fund.

Endowment funds are for the occupancy and operation of foxcroft academy. The income from some funds is restricted to capital repairs and improvements or for the related debt service.the income from certain funds is restricted to post-secondary education scholarships for foxcroft academy graduates or for foxcroft academy students/faculty to experience educational opportunites outside of foxcroft academy.the income from limited funds is restricted to defray tuition costs for academy students from outside the public sending unit area.

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IRS990/Form990PartVIISectionAGrp/PersonNm20KRISTEN GURALL
IRS990/Form990PartVIISectionAGrp/PersonNm21ARNOLD SHOREY
IRS990/Form990PartVIISectionAGrp/PersonNm22DANIEL WHITE
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IRS990/Form990PartVIISectionAGrp/TitleTxt1Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt2Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt3Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt4President
IRS990/Form990PartVIISectionAGrp/TitleTxt5Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt6Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt7Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt8Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt9Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt10Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt11Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt12Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt13Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt14Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt15Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt16Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt17Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt18Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt19Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt20Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt21HEAD OF SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt22CFO
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IRS990/MissionDesc0FOXCROFT ACADEMY IS AN INDEPENDENT HIGH SCHOOL FOUNDED IN 1823 ON THE PRINCIPLE THAT KNOWLEDGE IS POWER. FOXCROFT ACADEMY IS COMMITTED TO PROVIDING STUDENTS FROM CENTRAL MAINE AND BEYOND A RIGOROUS COLLEGE AND CAREER PREPARATORY ACADEMIC CURRICULUM DESIGNED TO PRODUCE INFORMED AND ACTIVE GLOBAL CITIZENS. FOXCROFT ACADEMY WILL FURNISH ALL STUDENTS WITH THE UNDERLYING SKILLS NEEDED FOR POST-SECONDARY SUCCESS WHILE EMBRACING ITS SAFE COMMUNITY AND NATURAL ENVIRONMENT.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$29.7$14.8$14.9$11.3$12.5$1.23
2023Detailed filing. Detailed filing data is available for this year.$31.5$15.8$15.8$12.9$12.2$0.68
2022Detailed filing. Detailed filing data is available for this year.$30.1$15.5$14.6$11.1$11.3$0.24
2021Detailed filing. Detailed filing data is available for this year.$30.9$14.4$16.5$10.0$10.2$0.17
2020Detailed filing. Detailed filing data is available for this year.$28.3$14.7$13.6$9.59$10.6$0.98
2019Detailed filing. Detailed filing data is available for this year.$29.2$13.9$15.3$13.3$10.7$2.64
2018Detailed filing. Detailed filing data is available for this year.$27.2$14.4$12.8$10.1$10.1$0.03
2017Detailed filing. Detailed filing data is available for this year.$27.0$14.9$12.1$9.98$9.85$0.13
2016Detailed filing. Detailed filing data is available for this year.$26.6$16.0$10.6$9.42$8.97$0.45
2015Detailed filing. Detailed filing data is available for this year.$26.6$15.8$10.9$7.15$9.59$2.45
2014Detailed filing. Detailed filing data is available for this year.$29.6$16.1$13.5$9.44$8.30$1.14
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$28.4$16.6$11.8$7.72
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$28.6$17.9$10.7$7.48
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.6$13.4$10.1$7.02
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$21.6$13.0$8.61$6.53