Civic Intelligence

Carrabassett Valley Academy

990 • Fiscal year 2014 • EIN 01-0384633

Jul 01, 2013 to Jun 30, 2014 • Filed on Feb 09, 2015

3197 Carrabassett DrCarabaset Vly, ME 04947

(207) 237-2250

Siviq Scores

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

Liabilities / Assets

59th percentile

0.34x

Higher debt load relative to assets than 59% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Liabilities / Revenue

77th percentile

0.87x

Higher debt load relative to revenue than 77% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Net Margin

49th percentile

2.6%

Higher net margin than 49% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Top Officer Pay

34th percentile

$130,421

Higher top officer pay than 34% of similar nonprofits.

Top officer pay equals 3.2% of source-year revenue.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Asset Growth

61st percentile

6.3%

Faster asset growth than 61% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Revenue Growth

63rd percentile

9.0%

Faster revenue growth than 63% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Assets

Up

$10,310,934

Up $614,335 (+6.3%) from 2013

Net Assets

Up

$6,784,247

Up $193,034 (+2.9%) from 2013

Liabilities

Up

$3,526,687

Up $421,301 (+14%) from 2013

Revenue

Up

$4,072,032

Up $336,916 (+9.0%) from 2013

Expenses

Up

$3,965,485

Up $140,215 (+3.7%) from 2013

Net Income

Up

$106,547

Up $196,701 (+218%) from 2013

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2012: $7,464,729Liabilities 2012: $830,910Net Assets 2012: $6,633,8192012Assets 2013: $9,696,599Liabilities 2013: $3,105,386Net Assets 2013: $6,591,2132013Assets 2014: $10,310,934Liabilities 2014: $3,526,687Net Assets 2014: $6,784,2472014Assets 2015: $10,166,920Liabilities 2015: $2,631,857Net Assets 2015: $7,535,0632015Assets 2016: $11,047,124Liabilities 2016: $1,873,829Net Assets 2016: $9,173,2952016Assets 2017: $11,493,109Liabilities 2017: $1,571,092Net Assets 2017: $9,922,0172017Assets 2018: $11,038,830Liabilities 2018: $1,390,712Net Assets 2018: $9,648,1182018Assets 2019: $10,875,391Liabilities 2019: $1,337,473Net Assets 2019: $9,537,9182019Assets 2020: $10,865,068Liabilities 2020: $1,523,552Net Assets 2020: $9,341,5162020Assets 2021: $11,857,906Liabilities 2021: $1,997,434Net Assets 2021: $9,860,4722021Assets 2022: $12,355,578Liabilities 2022: $1,541,785Net Assets 2022: $10,813,7932022Assets 2023: $13,644,586Liabilities 2023: $1,525,552Net Assets 2023: $12,119,0342023Assets 2024: $14,109,913Liabilities 2024: $1,575,777Net Assets 2024: $12,534,1362024Assets 2025: $14,997,776Liabilities 2025: $1,442,849Net Assets 2025: $13,554,9272025

Highlighted filing

2014

Assets$10,310,934
Liabilities$3,526,687
Net Assets$6,784,247

Operations Trend

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2012: $3,877,874Expenses 2012: $3,757,765Net Income 2012: $120,1092012Revenue 2013: $3,735,116Expenses 2013: $3,825,270Net Income 2013: -$90,1542013Revenue 2014: $4,072,032Expenses 2014: $3,965,485Net Income 2014: $106,5472014Revenue 2015: $5,297,326Expenses 2015: $4,511,590Net Income 2015: $785,7362015Revenue 2016: $6,413,070Expenses 2016: $4,707,134Net Income 2016: $1,705,9362016Revenue 2017: $4,833,411Expenses 2017: $4,158,744Net Income 2017: $674,6672017Revenue 2018: $3,538,267Expenses 2018: $3,901,534Net Income 2018: -$363,2672018Revenue 2019: $3,782,116Expenses 2019: $4,005,330Net Income 2019: -$223,2142019Revenue 2020: $3,657,306Expenses 2020: $3,897,638Net Income 2020: -$240,3322020Revenue 2021: $4,432,208Expenses 2021: $4,328,104Net Income 2021: $104,1042021Revenue 2022: $6,621,531Expenses 2022: $5,396,174Net Income 2022: $1,225,3572022Revenue 2023: $6,819,383Expenses 2023: $5,628,519Net Income 2023: $1,190,8642023Revenue 2024: $6,315,083Expenses 2024: $6,014,593Net Income 2024: $300,4902024Revenue 2025: $7,460,487Expenses 2025: $6,617,773Net Income 2025: $842,7142025

Highlighted filing

2014

Revenue$4,072,032
Expenses$3,965,485
Net Income$106,547
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Feb 9, 2015
Return Version
2013v4.0
Gross Receipts
$4,224,542
Mission and Program Overview

Mission

The intent and purpose of Carrabassett Valley Academy is to foster focused individual student-athlete development by providing the optimum balance between oustanding college preparatory academics, responsible community living and world-class athletic training in competitive skiing and snowboarding.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$7,720,973$8,231,735▲ $510,762
Investments in Publicly Traded Securities$719,259$861,747▲ $142,488
Pledges and Grants Receivable$308,212$447,492▲ $139,280
Accounts Receivable$187,526$233,671▲ $46,145
Cash and Non-Interest-Bearing Accounts$389,577$171,966▼ $217,611
Prepaid Expenses and Deferred Charges$72,604$28,439▼ $44,165
Inventories for Sale or Use$7,020$5,804▼ $1,216
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-
Intangible Assets-$0-
Total Assets$9,696,599$10,310,934▲ $614,335
Other Assets Total$291,428$330,080▲ $38,652
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,874,705$3,102,213▲ $227,508
Deferred Revenue$74,908$190,957▲ $116,049
Accounts Payable and Accrued Expenses$150,985$147,820▼ $3,165
Other Liabilities-$83,509-
Unsecured Notes Loans Payable$4,788$2,188▼ $2,600
Total Liabilities$3,105,386$3,526,687▲ $421,301
Net Assets / Fund Balance
Unrestricted Net Assets$4,889,435$4,775,832▼ $113,603
Temporarily Rstr Net Assets$1,242,033$1,499,579▲ $257,546
Permanently Rstr Net Assets$459,745$508,836▲ $49,091
Total Net Assets Fund Balance$6,591,213$6,784,247▲ $193,034
Total Liabilities and Net Assets / Fund Balance$9,696,599$10,310,934▲ $614,335

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,013,816$1,208,208$8,222,024
Other Land Buildings$407,863$617,879$1,025,742
Land$667,909-$667,909
Equipment$64,935$270,929$335,864
Leasehold Improvements$77,212$71,630$148,842

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$719,259$38,121▲ $124,773$20,406$861,747
2013$641,100$6,235▲ $90,915$18,991$719,259
2012$663,465$1,050▼ $10,987$12,428$641,100
2011$604,368$26,930▲ $53,865$21,698$663,465
2010$2,000$28,130--$604,368
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mrs Kate PundersonDir/head of SchFT$113,545$16,876$130,421
Mr Steve SitzDirector of FinFT$56,131$9,820$65,951

Highest Paid Contractors

ContractorServicesLocationCompensation
Mountain Mechanical INCConstruction-mechan-$259,395
Linwood E Doble INCConstruction-frmng-$199,069
Fournier Construction INCConstruction-site Wk-$120,476
Whitings ElectricConstruction-electri-$105,134
Revenue and Support

Revenue Composition

Contributions and Grants
$623,502
Program Service Revenue
$3,158,029
Investment Income
$157,850
Other Revenue
$132,651
All Other Contributions
$623,502
Change in Net Assets
$106,547

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeReported AmountValuation Method
Clothing and Household Goods$42,000Retail Value
Total Noncash Contributions$42,000-

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,066,177
Revenue Not Reported on Financial Statements
$5,855
Revenue Not Reported on Form 990
$143,477
Total Revenue per Audited Statements
$4,209,654
Total Revenue per Form 990
$4,072,032
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,209,444
Other Expenses$1,756,041
Total Fundraising Expense$110,081
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,240,732$386,496$54,638$1,681,866
Depreciation Depletion$185,578$73,103$10,137$268,818
Occupancy$253,203--$253,203
Current Officers, Directors, Trustees, and Key Employees-$193,223-$193,223
Other Employee Benefits$115,533$53,536$4,183$173,252
All Other Expenses$45,109$86,480$10,040$141,629
Payroll Taxes$82,891$36,768$6,567$126,226
Interest$72,656$28,621$3,969$105,246
Insurance$23,632$69,128-$92,760
Fees for Services Other$24,820$35,980-$60,800
Other Expenses$36,677$52,866$881$36,677
Pension Plan Contributions$16,056$15,785$3,036$34,877
Advertising$2,712$18,756$5,261$26,729
Fees for Services Accounting-$12,595-$12,595
Conferences and Meetings-$9,742-$9,742
Fees for Services Legal-$8,672-$8,672
Information Technology--$8,221$8,221
Office Expenses-$7,615$182$7,797
Travel-$2,925$2,966$5,891
Fees for Service Investment Mgmnt Fees-$5,855-$5,855
Total Functional Expenses$2,757,258$1,098,146$110,081$3,965,485

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$4,016,620
Total Expenses per Form 990$3,965,485
Expenses per Audited Statements$3,959,630
Expenses Not Reported on Form 990$56,990
Expenses Not Reported on Financial Statements$5,855
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$143,048
Fundraising Direct Expenses$56,990
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Event 1$92,150$92,150$12,936$79,214
Event 2$37,250$37,250$28,454$8,796
Total Events$143,048$143,048$56,990$86,058
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Earle MorseDirectorFurnishingsNo$70,282
John DillerDirectorSale of Ski PassesNo$53,290
Sam PundersonFam Mbr DrctFundraising/dev ServNo$21,887

Loans and Receivables

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

Other Reported Liabilities

LiabilityAmount
Capital Lease$83,509
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
Yes
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 2: Description of Business or Family Relationship of Officers, Directors, Et

Two of the directors share a family relationship.

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

The director of finance will review the form 990 prior to filing.

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

Annually sent to board members for review and to sign stating compliance with policy.

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

Academy participates in isanne salary study, annually reviewing salaries of key employees

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

Available upon request. Documents are provided to new england association of schools & colleges (neasc) during accreditation process.

Filing and Contact Details

Filer

EIN
01-0384633
Phone
2072372250

Signing Officer

Name
Mr Steve Sitz
Title
Director of Fin
Signed
2015-02-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mrs Kate Punderson
Formed
1983
Legal Domicile
Me
Voting Board Members
22
Independent Board Members
21
Employees
118
Volunteers
12

Preparer

Preparer
Julianne K Archer
Phone
2079473325
Supplemental Narrative

Financial Statement Notes

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

The academy intends to use its endowment funds to further its mission, including providing scholarships for its students.

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

Special events expense $56990

Part XII, Line 2D: Other expenses and losses per audited F/S

Special events expenses $56990

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IRS990/MissionDesc0The intent and purpose of Carrabassett Valley Academy is to foster focused individual student-athlete development by providing the optimum balance between oustanding college preparatory academics, responsible community living and world-class athletic training in competitive skiing and snowboarding.
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.0$1.44$13.6$7.46$6.62$0.84
2024Detailed filing. Detailed filing data is available for this year.$14.1$1.58$12.5$6.32$6.01$0.30
2023Detailed filing. Detailed filing data is available for this year.$13.6$1.53$12.1$6.82$5.63$1.19
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.4$1.54$10.8$6.62$5.40$1.23
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.9$2.00$9.86$4.43$4.33$0.10
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.9$1.52$9.34$3.66$3.90$0.24
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.9$1.34$9.54$3.78$4.01$0.22
2018Detailed filing. Detailed filing data is available for this year.$11.0$1.39$9.65$3.54$3.90$0.36
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.5$1.57$9.92$4.83$4.16$0.67
2016Detailed filing. Detailed filing data is available for this year.$11.0$1.87$9.17$6.41$4.71$1.71
2015Detailed filing. Detailed filing data is available for this year.$10.2$2.63$7.54$5.30$4.51$0.79
2014Detailed filing. Detailed filing data is available for this year.$10.3$3.53$6.78$4.07$3.97$0.11
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.70$3.11$6.59$3.74$3.83$0.09
2012Summary only. Only limited summary data is available for this year.$7.46$0.83$6.63$3.88$3.76$0.12
Peer Organizations

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