Civic Intelligence

Fryeburg Academy Trust

990 • Fiscal year 2020 • EIN 01-6009643

Jan 01, 2020 to Dec 31, 2020 • Filed on Aug 30, 2021

Organization ProfileN/A
PO Box 290Fryeburg, ME 04037

(207) 935-2061

Siviq Scores

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

Liabilities / Assets

55th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

55th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

31st percentile

-6.8%

Higher net margin than 31% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

77th percentile

$1,544

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 6.8% of source-year revenue.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

41st percentile

-0.2%

Faster asset growth than 41% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

56th percentile

-8.2%

Faster revenue growth than 56% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets55th percentile

Assets

Down

$205,867

Down $386 (-0.2%) from 2019

Net Assets

Down

$205,867

Down $386 (-0.2%) from 2019

Liabilities

Flat

$0

Flat from 2019

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin31st percentile

Revenue

Down

$22,741

Down $2,034 (-8.2%) from 2019

Expenses

Up

$24,290

Up $658 (+2.8%) from 2019

Net Income

Down

-$1,549

Down $2,692 (-236%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth41st percentile

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

$400K$300K$200K$100K$0Assets 2011: $175,544Liabilities 2011: $0Net Assets 2011: $175,5442011Assets 2012: $174,302Liabilities 2012: $0Net Assets 2012: $174,3022012Assets 2013: $20,060Liabilities 2013: $0Net Assets 2013: $20,0602013Assets 2014: $207,737Liabilities 2014: $0Net Assets 2014: $207,7372014Assets 2015: $208,322Liabilities 2015: $0Net Assets 2015: $208,3222015Assets 2016: $207,122Liabilities 2016: $0Net Assets 2016: $207,1222016Assets 2017: $206,089Liabilities 2017: $0Net Assets 2017: $206,0892017Assets 2018: $205,467Liabilities 2018: $0Net Assets 2018: $205,4672018Assets 2019: $206,253Liabilities 2019: $0Net Assets 2019: $206,2532019Assets 2020: $205,867Liabilities 2020: $0Net Assets 2020: $205,8672020Assets 2021: $252,087Liabilities 2021: $0Net Assets 2021: $252,0872021Assets 2022: $305,331Liabilities 2022: $0Net Assets 2022: $305,3312022Assets 2023: $337,211Liabilities 2023: $0Net Assets 2023: $337,2112023Assets 2024: $334,842Liabilities 2024: $0Net Assets 2024: $334,8422024

Highlighted filing

2020

Assets$205,867
Liabilities$0
Net Assets$205,867
Open 2020 Filing

Operations Trend

Revenue Growth56th percentile

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

$80K$60K$40K$20K$0-$20KRevenue 2011: $18,449Expenses 2011: $19,737Net Income 2011: -$1,2882011Revenue 2012: $20,306Expenses 2012: $21,668Net Income 2012: -$1,3622012Revenue 2013: $19,720Expenses 2013: $21,179Net Income 2013: -$1,4592013Revenue 2014: $24,170Expenses 2014: $25,677Net Income 2014: -$1,5072014Revenue 2015: $23,921Expenses 2015: $23,336Net Income 2015: $5852015Revenue 2016: $20,474Expenses 2016: $21,674Net Income 2016: -$1,2002016Revenue 2017: $20,771Expenses 2017: $22,319Net Income 2017: -$1,5482017Revenue 2018: $21,447Expenses 2018: $23,014Net Income 2018: -$1,5672018Revenue 2019: $24,775Expenses 2019: $23,632Net Income 2019: $1,1432019Revenue 2020: $22,741Expenses 2020: $24,290Net Income 2020: -$1,5492020Revenue 2021: $72,263Expenses 2021: $25,065Net Income 2021: $47,1982021Revenue 2022: $76,872Expenses 2022: $22,325Net Income 2022: $54,5472022Revenue 2023: $56,330Expenses 2023: $24,172Net Income 2023: $32,1582023Revenue 2024: $23,325Expenses 2024: $25,215Net Income 2024: -$1,8902024

Highlighted filing

2020

Revenue$22,741
Expenses$24,290
Net Income-$1,549
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Aug 30, 2021
Return Version
2020v4.1
Gross Receipts
$57,691
Mission and Program Overview

Mission

Providing financial support to general education at fryeburg academy, a private no-profit, secondary school located in fryeburg, maine.

Investing its assets, with all net income paid to fryeburg academy, a private secondary school

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$202,085$202,826▲ $741
Cash and Non-Interest-Bearing Accounts$4,168$3,041▼ $1,127
Total Assets$206,253$205,867▼ $386
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$206,253$205,867▼ $386
Total Net Assets Fund Balance$206,253$205,867▼ $386
Total Liabilities and Net Assets / Fund Balance$206,253$205,867▼ $386
Compensation and Service Providers
Top Officer Pay77th percentile

Employees

NameTitleBaseTotal
Peter G HastingsTrustee$1,544$1,544
David R Hastings IiiTrustee$1,543$1,543
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$22,741
Other Revenue
$0
Change in Net Assets
$-1,549
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$20,889
Salaries, Compensation, and Employee Benefits$3,197
Other Expenses$204
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$20,889--$20,889
Current Officers, Directors, Trustees, and Key Employees-$3,197-$3,197
Other Expenses-$19-$19
Total Functional Expenses$20,889$3,401$0$24,290
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Fryeburg AcademyFryeburg, ME501(c)(3)General/educational$20,889
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“The co-trustees are peter g. Hastings and david r. Hastings iii. Peter g. Hastings is the uncle of david r. Hastings iii.”

Form 990, Part VI, Section A, Line 8A

“The organization does not specifically document meetings held or written actions taken by the two trustees.”

Form 990, Part VI, Section A, Line 8B

“There are no committees with the authority to act on behalf of the governing body.”

Form 990, Part VI, Section B, Line 11B

“This form is reviewed by its two trustees who are the entire governing body.”

Form 990, Part VI, Section C, Line 19

“The governing trust document and the annual financial accounting is available upon request and are filed with the oxford county probate court.”

Filing and Contact Details

Filer

Filer Name
Fryeburg Academy Trust
EIN
01-6009643
Phone
2079352061
Address
PO BOX 290, FRYEBURG, ME 04037

Signing Officer

Name
David R Hastings Iii
Title
Trustee
Phone
2079352061
Signed
2021-08-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David R Hastings Iii
Formed
1961
Legal Domicile
Me
Voting Board Members
2
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Gamwell Caputo Kelsch & Co Pllc
Address
481 WHITE MOUNTAIN HIGHWAY, CONWAY, NH 03818
Preparer
Darren R Celso CPA
Phone
6034473356
Raw XML Appendix314 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE TRUSTEES HAVE, SINCE THE CREATION OF THE TRUST, BEEN IN CLOSE ASSOCIATION WITH THE ADMINSTRATION OF FRYEBURG ACADEMY.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1ALL THE UNEXPIRED INTERESTS IN THE TRUST ARE DEVOTED TO THE SUPPORT OF FRYEBURG ACADEMY AND A DEDUCTION WAS ALLOWED WITH RESPECT TO THOSE INTERESTS. THIS TRUST WAS CREATED PRIOR TO NOVEMBER 20, 1970, AND DID NOT RECEIVE ANY GRANT, CONTRIBUTION, BEQUEST OR OTHER TRANSFER ON OR AFTER SUCH DATE. THE TRUST IS REQUIRED TO DISTRIBUTE ALL NET INCOME TO FRYEBURG ACADEMY. NEITHER TRUSTEE HAS THE DISCRETION TO CHANGE THE BENEFICIARY SUPPORTED ORGANIZATION (FRYEBURG ACADEMY), OR THE AMOUNT PAYABLE TO THEM. NEITHER OF THE TRUSTEES WOULD BE DISQUALIFIED PERSONS WITHIN THE MEANING OF SECTION 4946(A) WITH RESPECT TO THE TRUST IF IT WERE TO BE TREATED AS A PRIVATE FOUNDATION.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION D, LINE 2:
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1PART V, LINE 1:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CO-TRUSTEES ARE PETER G. HASTINGS AND DAVID R. HASTINGS III. PETER G. HASTINGS IS THE UNCLE OF DAVID R. HASTINGS III.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION DOES NOT SPECIFICALLY DOCUMENT MEETINGS HELD OR WRITTEN ACTIONS TAKEN BY THE TWO TRUSTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THERE ARE NO COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THIS FORM IS REVIEWED BY ITS TWO TRUSTEES WHO ARE THE ENTIRE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE GOVERNING TRUST DOCUMENT AND THE ANNUAL FINANCIAL ACCOUNTING IS AVAILABLE UPON REQUEST AND ARE FILED WITH THE OXFORD COUNTY PROBATE COURT.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 8A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
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ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$205,867
Liabilities
$0
Net assets
$205,867
Revenue
$22,741
Expenses
$24,290
Net income
-$1,549
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.35$0.00$3.35$0.23$0.25$0.02
2023Detailed filing. Detailed filing data is available for this year.$3.37$0.00$3.37$0.56$0.24$0.32
2022Detailed filing. Detailed filing data is available for this year.$3.05$0.00$3.05$0.77$0.22$0.55
2021Detailed filing. Detailed filing data is available for this year.$2.52$0.00$2.52$0.72$0.25$0.47
2020Detailed filing. Detailed filing data is available for this year.$2.06$0.00$2.06$0.23$0.24$0.02
2019Summary only. Only limited summary data is available for this year.$2.06$0.00$2.06$0.25$0.24$0.01
2018Summary only. Only limited summary data is available for this year.$2.05$0.00$2.05$0.21$0.23$0.02
2017Summary only. Only limited summary data is available for this year.$2.06$0.00$2.06$0.21$0.22$0.02
2016Summary only. Only limited summary data is available for this year.$2.07$0.00$2.07$0.20$0.22$0.01
2015Summary only. Only limited summary data is available for this year.$2.08$0.00$2.08$0.24$0.23$0.01
2014Summary only. Only limited summary data is available for this year.$2.08$0.00$2.08$0.24$0.26$0.02
2013Summary only. Only limited summary data is available for this year.$0.20$0.00$0.20$0.20$0.21$0.01
2012Summary only. Only limited summary data is available for this year.$1.74$0.00$1.74$0.20$0.22$0.01
2011Summary only. Only limited summary data is available for this year.$1.76$0.00$1.76$0.18$0.20$0.01