Civic Intelligence

Concord Academy

EIN 04-1200600 • 501(c)3 • Concord, MA

Pub. 78 Eligible

View Organization Page

Linked School Profile

Concord Academy

Concord, MA • Boarding and Day

415 students6:1 ratio

Profile

Concord academy is a community animated by love of learning, diverse and striving for equity, with common trust as our foundation. Honoring each individual, we challenge and expand our understanding of ourselves and the world through purposeful collaboration and creative engagement. Concord academy cultivates empathy, integrity, and responsibility to build a more just and sustainable future.

166 Main StConcord, MA 01742

www.concordacademy.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

36th percentile

0.15x

Higher debt load relative to assets than 36% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2025

Liabilities / Revenue

64th percentile

0.67x

Higher debt load relative to revenue than 64% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2025

Net Margin

75th percentile

18%

Higher net margin than 75% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2025

Top Officer Pay

65th percentile

$657,893

Higher top officer pay than 65% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

501(c)3 • $100M-$250M nonprofits • Source year 2025

Asset Growth

57th percentile

7.6%

Faster asset growth than 57% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2024 to 2025

Revenue Growth

13th percentile

-11%

Faster revenue growth than 13% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets36th percentile

Assets

Up

$218,482,022

Up $15,410,471 (+7.6%) from 2024

Liabilities

Up

$32,071,805

Up $4,130,943 (+15%) from 2024

Net Assets

Up

$186,410,217

Up $11,279,528 (+6.4%) from 2024

Operations
Liabilities / Revenue64th percentileNet Margin75th percentile

Revenue

Down

$47,593,135

Down $6,147,939 (-11%) from 2024

Expenses

Up

$38,828,046

Up $1,782,703 (+4.8%) from 2024

Net Income

Down

$8,765,089

Down $7,930,642 (-48%) from 2024

Trend Graphs

Balance Sheet Trend

Asset Growth57th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$300M$200M$100M$0Assets 2010: $83,389,792Liabilities 2010: $23,829,610Net Assets 2010: $59,560,1822010Assets 2011: $94,635,722Liabilities 2011: $23,031,188Net Assets 2011: $71,604,5342011Assets 2012: $93,963,258Liabilities 2012: $23,838,696Net Assets 2012: $70,124,5622012Assets 2013: $97,761,702Liabilities 2013: $21,838,108Net Assets 2013: $75,923,5942013Assets 2014: $106,628,803Liabilities 2014: $21,427,903Net Assets 2014: $85,200,9002014Assets 2015: $114,883,578Liabilities 2015: $21,484,526Net Assets 2015: $93,399,0522015Assets 2016: $124,420,494Liabilities 2016: $22,531,355Net Assets 2016: $101,889,1392016Assets 2017: $129,780,889Liabilities 2017: $20,668,796Net Assets 2017: $109,112,0932017Assets 2018: $140,337,352Liabilities 2018: $21,437,460Net Assets 2018: $118,899,8922018Assets 2019: $144,731,804Liabilities 2019: $20,777,166Net Assets 2019: $123,954,6382019Assets 2020: $148,552,196Liabilities 2020: $24,452,391Net Assets 2020: $124,099,8052020Assets 2021: $169,702,633Liabilities 2021: $23,375,222Net Assets 2021: $146,327,4112021Assets 2022: $166,818,681Liabilities 2022: $24,219,758Net Assets 2022: $142,598,9232022Assets 2023: $177,453,653Liabilities 2023: $24,771,415Net Assets 2023: $152,682,2382023Assets 2024: $203,071,551Liabilities 2024: $27,940,862Net Assets 2024: $175,130,6892024Assets 2025: $218,482,022Liabilities 2025: $32,071,805Net Assets 2025: $186,410,2172025

Highlighted filing

2025

Assets$218,482,022
Liabilities$32,071,805
Net Assets$186,410,217
Open 2025 Filing

Operations Trend

Revenue Growth13th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$60M$40M$20M$0Expenses 2010: $20,601,8912010Revenue 2011: $24,815,141Expenses 2011: $20,354,959Net Income 2011: $4,460,1822011Expenses 2012: $21,170,3072012Revenue 2013: $25,239,476Expenses 2013: $22,588,675Net Income 2013: $2,650,8012013Revenue 2014: $24,782,226Expenses 2014: $23,592,351Net Income 2014: $1,189,8752014Revenue 2015: $34,662,043Expenses 2015: $24,350,503Net Income 2015: $10,311,5402015Revenue 2016: $35,499,792Expenses 2016: $26,152,337Net Income 2016: $9,347,4552016Revenue 2017: $28,051,881Expenses 2017: $26,979,210Net Income 2017: $1,072,6712017Revenue 2018: $40,637,130Expenses 2018: $26,913,229Net Income 2018: $13,723,9012018Revenue 2019: $31,498,595Expenses 2019: $29,187,591Net Income 2019: $2,311,0042019Revenue 2020: $31,252,046Expenses 2020: $29,916,080Net Income 2020: $1,335,9662020Revenue 2021: $52,686,397Expenses 2021: $33,258,200Net Income 2021: $19,428,1972021Revenue 2022: $40,612,899Expenses 2022: $33,486,337Net Income 2022: $7,126,5622022Revenue 2023: $37,596,494Expenses 2023: $35,589,204Net Income 2023: $2,007,2902023Revenue 2024: $53,741,074Expenses 2024: $37,045,343Net Income 2024: $16,695,7312024Revenue 2025: $47,593,135Expenses 2025: $38,828,046Net Income 2025: $8,765,0892025

Highlighted filing

2025

Revenue$47,593,135
Expenses$38,828,046
Net Income$8,765,089
Open 2025 Filing

Filings

Most recent year

2025 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$218,482,022
Liabilities
$32,071,805
Net assets
$186,410,217
Revenue
$47,593,135
Expenses
$38,828,046
Net income
$8,765,089
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$218$32.1$186$47.6$38.8$8.77
2024Detailed filing. Detailed filing data is available for this year.$203$27.9$175$53.7$37.0$16.7
2023Detailed filing. Detailed filing data is available for this year.$177$24.8$153$37.6$35.6$2.01
2022Detailed filing. Detailed filing data is available for this year.$167$24.2$143$40.6$33.5$7.13
2021Detailed filing. Detailed filing data is available for this year.$170$23.4$146$52.7$33.3$19.4
2020Detailed filing. Detailed filing data is available for this year.$149$24.5$124$31.3$29.9$1.34
2019Detailed filing. Detailed filing data is available for this year.$145$20.8$124$31.5$29.2$2.31
2018Detailed filing. Detailed filing data is available for this year.$140$21.4$119$40.6$26.9$13.7
2017Detailed filing. Detailed filing data is available for this year.$130$20.7$109$28.1$27.0$1.07
2016Detailed filing. Detailed filing data is available for this year.$124$22.5$102$35.5$26.2$9.35
2015Detailed filing. Detailed filing data is available for this year.$115$21.5$93.4$34.7$24.4$10.3
2014Detailed filing. Detailed filing data is available for this year.$107$21.4$85.2$24.8$23.6$1.19
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$97.8$21.8$75.9$25.2$22.6$2.65
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$94.0$23.8$70.1$21.2
2011Summary only. Only limited summary data is available for this year.$94.6$23.0$71.6$24.8$20.4$4.46
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$83.4$23.8$59.6$20.6
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Mar 27, 2026
Return Version
2024v5.5
Gross Receipts
$120,119,937
Mission and Program Overview

Mission

Concord academy is a community animated by love of learning, diverse and striving for equity, with common trust as our foundation. Honoring each individual, we challenge and expand our understanding of ourselves and the world through purposeful collaboration and creative engagement. Concord academy cultivates empathy, integrity, and responsibility to build a more just and sustainable future.

Concord academy is a four-year, nonprofit, coeducational, boarding and day college-preparatory school consisting of grades nine through twelve. The 2024-25 enrollment was composed of 415 students, 156 of whom were boarding students and 259 of whom were day students. Enrollment for the 2024-25 year consisted of students from 13 states/territories and 16 foreign countries.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$60,145,101$83,509,121▲ $23,364,020
Investments in Publicly Traded Securities$58,270,398$66,304,192▲ $8,033,794
Investments Other Securities$49,806,533$47,022,017▼ $2,784,516
Pledges and Grants Receivable$14,291,348$12,546,464▼ $1,744,884
Savings and Temporary Cash Investments$18,207,914$6,802,390▼ $11,405,524
Prepaid Expenses and Deferred Charges$708,548$735,749▲ $27,201
Inventories for Sale or Use$21,420$21,726▲ $306
Cash and Non-Interest-Bearing Accounts$3,300$3,800▲ $500
Other Notes and Loans Receivable, Net$8,550$3,585▼ $4,965
Total Assets$203,071,551$218,482,022▲ $15,410,471
Other Assets Total$1,608,439$1,532,978▼ $75,461
Liabilities
Tax Exempt Bond Liabilities$12,216,293$18,723,887▲ $6,507,594
Deferred Revenue$9,984,089$9,724,446▼ $259,643
Accounts Payable and Accrued Expenses$4,646,064$2,745,674▼ $1,900,390
Other Liabilities$1,094,416$877,798▼ $216,618
Total Liabilities$27,940,862$32,071,805▲ $4,130,943
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$72,407,040$101,323,285▲ $28,916,245
Net Assets With Donor Restrictions$102,723,649$85,086,932▼ $17,636,717
Total Net Assets Fund Balance$175,130,689$186,410,217▲ $11,279,528
Total Liabilities and Net Assets / Fund Balance$203,071,551$218,482,022▲ $15,410,471

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$67,573,069$38,798,112$106,371,181
Land$10,431,094-$10,431,094
Equipment$4,093,636$4,745,482$8,839,118
Other Land Buildings$1,411,322-$1,411,322
Other Securities$14,156,042--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$100,449,566$1,552,389▲ $10,991,891$3,288,445$108,697,846
2023$91,385,880$3,067,542▲ $10,146,144$3,190,836$100,449,566
2022$86,526,570$841,687▲ $8,101,623$3,167,488$91,385,880
2021$94,564,831$2,605,448▼ $6,852,709$2,961,635$86,526,570
2020$80,021,483$1,890,094▲ $16,209,254$2,827,546$94,564,831
Compensation and Service Providers
Top Officer Pay65th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Henry FairfaxHead of SchoolFT$468,001$189,892$657,893
Amy Miller-fredericksChief Financial & Operating OfficerFT$299,492$83,914$383,406
Sarah Yeh Associate Head forTeaching, Learning & FacultyFT$260,292$88,415$348,707
Christine H FlashnerChief Advancement OfficerFT$204,563$62,509$267,072
Michael McsorleyDirector of OperationsFT$177,644$79,742$257,386
Donald Kingman Dir of CampusPlanning, Design & ConstructionFT$157,855$51,626$209,481
Kevan Lavaughn Turman AssocHead for Community Engt. & Bus. Dev.FT$114,676$89,806$204,482
Francis GallagherControllerFT$163,559$13,183$176,742
David LeachDirector of Administrative SystemsFT$150,515$13,494$164,009
Alice Roebuck Former AssistantHead of Advancement & Engagement-$5,123$154,543$159,666

Board Members and Trustees

NameTitle
Jennifer J BurleighCo-president
Jennifer a PlineCo-president
Kevin ParkeFirst Vice President
John GrossmanVice President
Alexis GoltraTrustee
Brendan LargayTrustee
Carol MoriartyTrustee
Charles CarterTrustee
Dennis GoldsteinTrustee
Derrick Yat Bond PangTrustee
Ethan ThurowTrustee
Imani PerryTrustee
Jane DuTrustee
Jared JohnsonTrustee
Karen McalmonTrustee
Kerry HoffmanTrustee
Ly TranTrustee
Nana AdmadjajaTrustee
Natalie KrajcirTrustee
Patrick McwhinneyTrustee
Pauline LinTrustee
Podie LynchTrustee
Rachel Lipson GlickTrustee
Stephen KramarskyTrustee
Tracy WelchTrustee
Trelane ClarkTrustee
Ashley ShihSecretary
Jonathan DesimoneTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Windover Construction INCConstruction Services66 CHERRY HILL DRIVE, Beverly, MA 01915$20,732,988
Sodexo INC & AffiliatesFood ServicesPO BOX 360170, Pittsburgh, PA 15251$2,189,895
John Moriarty & Associates INCConstruction Services3 CHURCH STREET, Winchester, MA 01890$1,034,592
Mj Cataldo INCConstruction ServicesPO BOX 1343, Littleton, MA 01460$913,201
Ounce It LLCIt Services205 NEWBURY ST SUITE 202, Framingham, MA 01701$632,227
Revenue and Support

Revenue Composition

Contributions and Grants
$6,886,381
Program Service Revenue
$30,451,184
Investment Income
$10,092,011
Other Revenue
$163,559
All Other Contributions
$6,886,381
Change in Net Assets
$8,765,089

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded35$289,367Fair Market Value
Total Noncash Contributions35$289,367-

Audited Revenue Reconciliation

Revenue per Audited Statements
$47,180,069
Revenue Not Reported on Financial Statements
$413,066
Revenue Not Reported on Form 990
$-3,139,909
Total Revenue per Audited Statements
$44,040,160
Total Revenue per Form 990
$47,593,135
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$19,830,992
Other Expenses$12,852,198
Grants and Similar Amounts Paid$6,144,856
Total Fundraising Expense$1,381,394
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$11,221,534$1,870,342$476,825$13,568,701
Grants to Domestic Individuals$6,134,856--$6,134,856
Depreciation Depletion$2,924,044$97,660$63,477$3,085,181
Other Employee Benefits$2,322,602$371,367$75,287$2,769,256
Fees for Services Other$1,332,302$353,755$85,920$1,771,977
Current Officers, Directors, Trustees, and Key Employees$301,900$1,008,480$278,500$1,588,880
Occupancy$1,148,944$36,563$23,766$1,209,273
Payroll Taxes$810,129$188,486$50,377$1,048,992
Pension Plan Contributions$695,608$129,597$29,958$855,163
All Other Expenses$466,413$158,888$85,860$711,161
Fees for Service Investment Mgmnt Fees-$413,066-$413,066
Office Expenses$218,122$108,035$45,794$371,951
Interest$346,775$11,582$7,528$365,885
Travel$185,480$95,567$16,456$297,503
Insurance-$272,039-$272,039
Conferences and Meetings$129,604$66,277$9,668$205,549
Information Technology$106,915$86,977$6,113$200,005
Fees for Services Accounting-$110,905-$110,905
Other Expenses$157,742$110,054$78,498$110,054
Fees for Services Legal-$89,350-$89,350
Advertising$1,382$68,166$6,815$76,363
Grants to Domestic Orgs$10,000--$10,000
Total Functional Expenses$31,570,354$5,876,298$1,381,394$38,828,046

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$38,828,046
Expenses per Audited Statements$32,760,632
Total Expenses per Audited Statements$32,760,632
Expenses Not Reported on Financial Statements$6,067,414
Other Expense Adjustments$5,654,348
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Town of ConcordConcord, MA170(c)(1)Town 250 Gift Fund$10,000

International Summary

Offices
0
Employees
0
Spending
$10,963,578

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
Yes
Foreign partnership interest
Yes
Interest in foreign trust
No
Passive foreign investment company interest
Yes
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestmentsAdmissions Recruiting--$10,088,235
Europe (including Iceland & Greenland)InvestmentsAdmissions Recruiting--$842,501
East Asia and the PacificProgram Services---$12,144
Middle East and North AfricaProgram ServicesAdmissions Recruiting--$7,802
Central America and the CaribbeanProgram ServicesAdmissions Recruiting--$7,341
Sub-saharan AfricaProgram Services---$5,555
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-See Part VSee Part VNo$582,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Regristration Deposits$415,610
Activities Account$251,005
Insurance Deposits$174,352
Housing Deposits$36,831

Bond Issues

BondIssuerIssuedIssue PricePurpose
AMassachusetts Development Finance Agency2020-03-01$14,045,589SEE PART VI
BMassachusetts Development Finance Agency2022-03-01$7,000,000SEE PART VI

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$14,045,589$14,045,589$2,043,250-
B$7,000,000$7,000,000$40,923-

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
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 35% controlled entity
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, Section B, Line 11B

“Upon completion of the 2024 form 990, the entire form is first reviewed by management; soon after, the form, not including schedule b, is reviewed with the chair of the audit committee; then the form, not including schedule b, is presented in a meeting with all members of the audit committee of the concord academy board of trustees for review, discussion, including any proposed changes, and approval. After approval and before filing with the irs, the form, not including schedule b, is made available to each board member on the concord academy trustee website.”

Form 990, Part VI, Section B, Line 12C

“In october of each year new and returning trustees are asked to complete a conflict of interest form electronically which is then made available to the chief of staff. Once returned, each form is reviewed by the chief of staff and any exceptions are reported to the head and cfoo to ensure compliance. In the event of a conflict, said conflict would be discussed with the committee on trustees and/or legal counsel to determine how to proceed. An electronic record of the responses is saved annually.”

Form 990, Part VI, Section B, Line 15

“The concord board of trustees compensation committee reviews and deliberates compensation for the head of school using peer school data and financial reporting (form 990) and other external sources. Key employee job performance, including the cfoo, the chief advancement officer, the assistant head for advancement and engagement, and the associate head for teaching, learning and faculty, is evaluated by the head of school. The compensation process involves attention to and avoidance of conflicts of interest as well as the use of comparability data gathered and generated through an external database. Such decisions are documented.”

Form 990, Part VI, Section C, Line 19

“The organization does not make these documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Concord Academy
EIN
04-1200600
Phone
9784022200
Address
166 MAIN ST, CONCORD, MA 01742

Signing Officer

Name
Amy Miller-fredericks
Title
Cfoo
Phone
9784022200
Signed
2026-03-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Henry Fairfax
Formed
1922
Legal Domicile
Ma
Voting Board Members
29
Independent Board Members
27
Employees
427
Volunteers
323

Preparer

Firm
Rsm US Llp
Address
80 CITY SQUARE, BOSTON, MA 02129-3742
Preparer
Rebekuh Eley
Phone
6179129000
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Changes in value of split-interest agreements 96,958.”

Financial Statement Notes

PART V, LINE 4:

“The endowment funds are to be used in furtherance of the academy's exempt purposes.”

PART X, LINE 2:

“The academy qualifies as a tax-exempt, nonprofit organization under section 501(c)(3) of the internal revenue code (the "code") and is exempt from federal and state income tax on related income pursuant to section 501(a) of the code. Accordingly, no provision for federal and state income tax has been recorded in the accompanying financial statements. The academy is subject to federal and state income taxes on unrelated business income. The academy follows fasb asc 740, income taxes, which clarifies the accounting for uncertainty in income taxes by prescribing the recognition threshold a tax position is required to meet before being recognized in the financial statements. The academy recognizes a tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities. Management evaluated the academy's tax positions and concluded that the academy has no material uncertainties in income taxes. Under internal revenue service regulations, with few exceptions, the academy is only subject to income tax examinations by the federal, state or local tax authorities for three years from the filing date. The academy will account for interest and penalties related to uncertain tax positions, if any, as part of tax expense.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Change in value of split-interest agreements 96,958. Financial aid grants netted with revenue on financial statements -5,654,348.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Financial aid grants netted with revenue on financial statements 5,654,348.”

Raw XML AppendixShowing 400 of 1,302 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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IRS990/ActivityOrMissionDesc0CONCORD ACADEMY IS A FOUR-YEAR, NONPROFIT, COEDUCATIONAL, BOARDING AND DAY COLLEGE-PREPARATORY SCHOOL CONSISTING OF GRADES NINE THROUGH TWELVE. THE 2024-25 ENROLLMENT WAS COMPOSED OF 415 STUDENTS, 156 OF WHOM WERE BOARDING STUDENTS AND 259 OF WHOM WERE DAY STUDENTS. ENROLLMENT FOR THE 2024-25 YEAR CONSISTED OF STUDENTS FROM 13 STATES/TERRITORIES AND 16 FOREIGN COUNTRIES.
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