Civic Intelligence

School Year Abroad Inc

EIN 04-2589375 • 501(c)3 • North Andover, MA

Profile

To provide educational opportunities to high school students that allow them to live in either china, spain, italy, or france for an entire year, for a semester, or for a summer, while earning us graduation credits

Refreshing map…

120 Water Street 310North Andover, MA 01845

www.sya.org

Siviq Scores

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

Liabilities / Assets

36th percentile

0.10x

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

501(c)3 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

53rd percentile

0.31x

Higher debt load relative to revenue than 53% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Net Margin

74th percentile

19%

Higher net margin than 74% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

77th percentile

$421,343

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 2.9% of source-year revenue.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Asset Growth

70th percentile

11%

Faster asset growth than 70% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

29th percentile

-1.2%

Faster revenue growth than 29% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Assets

Up

$44,493,128

Up $4,552,268 (+11%) from 2023

Liabilities

Down

$4,505,309

Down $826,927 (-16%) from 2023

Net Assets

Up

$39,987,819

Up $5,379,195 (+16%) from 2023

Revenue

Down

$14,751,719

Down $180,981 (-1.2%) from 2023

Expenses

Up

$11,976,463

Up $287,034 (+2.5%) from 2023

Net Income

Down

$2,775,256

Down $468,015 (-14%) from 2023

Trend Graphs

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2011: $14,794,134Liabilities 2011: $3,879,414Net Assets 2011: $10,914,7202011Assets 2012: $17,693,452Liabilities 2012: $5,006,703Net Assets 2012: $12,686,7492012Assets 2013: $19,109,706Liabilities 2013: $4,765,433Net Assets 2013: $14,344,2732013Assets 2014: $18,951,844Liabilities 2014: $3,726,475Net Assets 2014: $15,225,3692014Assets 2015: $21,530,865Liabilities 2015: $5,424,253Net Assets 2015: $16,106,6122015Assets 2016: $20,524,276Liabilities 2016: $3,068,047Net Assets 2016: $17,456,2292016Assets 2017: $23,933,496Liabilities 2017: $4,060,411Net Assets 2017: $19,873,0852017Assets 2018: $26,748,244Liabilities 2018: $3,772,219Net Assets 2018: $22,976,0252018Assets 2019: $30,813,013Liabilities 2019: $3,424,454Net Assets 2019: $27,388,5592019Assets 2020: $27,641,329Liabilities 2020: $1,183,165Net Assets 2020: $26,458,1642020Assets 2021: $31,777,579Liabilities 2021: $2,932,013Net Assets 2021: $28,845,5662021Assets 2022: $33,320,885Liabilities 2022: $3,585,552Net Assets 2022: $29,735,3332022Assets 2023: $39,940,860Liabilities 2023: $5,332,236Net Assets 2023: $34,608,6242023Assets 2024: $44,493,128Liabilities 2024: $4,505,309Net Assets 2024: $39,987,8192024

Highlighted filing

2024

Assets$44,493,128
Liabilities$4,505,309
Net Assets$39,987,819

Operations Trend

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

$20M$15M$10M$5.0M$0-$5.0MExpenses 2011: $15,094,7432011Expenses 2012: $13,801,0452012Revenue 2013: $14,705,054Expenses 2013: $13,683,450Net Income 2013: $1,021,6042013Revenue 2014: $13,219,676Expenses 2014: $13,632,426Net Income 2014: -$412,7502014Revenue 2015: $15,075,847Expenses 2015: $14,152,574Net Income 2015: $923,2732015Revenue 2016: $14,873,838Expenses 2016: $13,337,996Net Income 2016: $1,535,8422016Revenue 2017: $13,617,186Expenses 2017: $12,340,108Net Income 2017: $1,277,0782017Revenue 2018: $15,690,513Expenses 2018: $13,224,177Net Income 2018: $2,466,3362018Revenue 2019: $17,068,487Expenses 2019: $13,417,924Net Income 2019: $3,650,5632019Revenue 2020: $11,544,659Expenses 2020: $12,415,129Net Income 2020: -$870,4702020Revenue 2021: $4,148,421Expenses 2021: $5,028,869Net Income 2021: -$880,4482021Revenue 2022: $14,077,338Expenses 2022: $10,404,264Net Income 2022: $3,673,0742022Revenue 2023: $14,932,700Expenses 2023: $11,689,429Net Income 2023: $3,243,2712023Revenue 2024: $14,751,719Expenses 2024: $11,976,463Net Income 2024: $2,775,2562024

Highlighted filing

2024

Revenue$14,751,719
Expenses$11,976,463
Net Income$2,775,256

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$44.5$4.51$40.0$14.8$12.0$2.78
2023Detailed filing. Detailed filing data is available for this year.$39.9$5.33$34.6$14.9$11.7$3.24
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$33.3$3.59$29.7$14.1$10.4$3.67
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$31.8$2.93$28.8$4.15$5.03$0.88
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.6$1.18$26.5$11.5$12.4$0.87
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$30.8$3.42$27.4$17.1$13.4$3.65
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$26.7$3.77$23.0$15.7$13.2$2.47
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.9$4.06$19.9$13.6$12.3$1.28
2016Detailed filing. Detailed filing data is available for this year.$20.5$3.07$17.5$14.9$13.3$1.54
2015Detailed filing. Detailed filing data is available for this year.$21.5$5.42$16.1$15.1$14.2$0.92
2014Detailed filing. Detailed filing data is available for this year.$19.0$3.73$15.2$13.2$13.6$0.41
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.1$4.77$14.3$14.7$13.7$1.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.7$5.01$12.7$13.8
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.8$3.88$10.9$15.1
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 13, 2025
Return Version
2023v6.0
Gross Receipts
$25,809,275
Mission and Program Overview

Mission

To provide educational opportunities to high school students that allow them to live in either spain, italy, or france for an entire year, for a semester, or for a summer, while earning us graduation credits.

To provide educational opportunities to high school students that allow them to live and study abroad

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$13,028,432$16,550,068▲ $3,521,636
Investments in Publicly Traded Securities$12,743,914$15,170,594▲ $2,426,680
Savings and Temporary Cash Investments$7,222,549$6,994,875▼ $227,674
Land, Buildings, and Equipment, Net$2,886,621$3,238,127▲ $351,506
Cash and Non-Interest-Bearing Accounts$3,415,028$2,141,248▼ $1,273,780
Prepaid Expenses and Deferred Charges$241,230$165,245▼ $75,985
Pledges and Grants Receivable$9,482$8,482▼ $1,000
Accounts Receivable$46,452$4,230▼ $42,222
Total Assets$39,940,860$44,493,128▲ $4,552,268
Other Assets Total$347,152$220,259▼ $126,893
Liabilities
Deferred Revenue$4,266,022$3,561,938▼ $704,084
Accounts Payable and Accrued Expenses$715,152$718,259▲ $3,107
Other Liabilities$351,062$225,112▼ $125,950
Total Liabilities$5,332,236$4,505,309▼ $826,927
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$21,695,314$25,923,255▲ $4,227,941
Net Assets With Donor Restrictions$12,913,310$14,064,564▲ $1,151,254
Total Net Assets Fund Balance$34,608,624$39,987,819▲ $5,379,195
Total Liabilities and Net Assets / Fund Balance$39,940,860$44,493,128▲ $4,552,268

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,284,216$906,205$3,190,421
Leasehold Improvements$888,751$1,727,905$2,616,656
Equipment$65,160$743,221$808,381
Other Securities$16,550,068--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$24,552,874$3,285,288▲ $3,268,315$580,000$30,526,477
2022$18,779,901$4,204,627▲ $2,058,346$490,000$24,552,874
2021$17,620,910$4,175,157▼ $2,556,166$460,000$18,779,901
2020$14,860,420$8,128▲ $3,402,362$650,000$17,620,910
2019$15,353,667$21,932▲ $104,821$620,000$14,860,420
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Tom HassanPresidentFT$357,567$63,776$421,343
Michael MccarthyCFOFT$159,583$60,776$220,359
Rachel KeeganDirector of AdmissionsFT$156,938$45,161$202,099
Erin EricsonDirector of DevelopmentFT$117,303$29,416$146,719
Revenue and Support

Revenue Composition

Contributions and Grants
$1,798,090
Program Service Revenue
$12,010,588
Investment Income
$943,041
Other Revenue
$0
All Other Contributions
$1,798,090
Change in Net Assets
$2,775,256

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded25$115,695Fair Market Value (FMV)
Total Noncash Contributions25$115,695-

Audited Revenue Reconciliation

Revenue per Audited Statements
$11,950,318
Revenue Not Reported on Financial Statements
$2,801,401
Revenue Not Reported on Form 990
$2,572,650
Other Revenue Adjustments
$2,801,401
Total Revenue per Audited Statements
$14,522,968
Total Revenue per Form 990
$14,751,719
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$5,014,886
Other Expenses$4,160,176
Grants and Similar Amounts Paid$2,801,401
Total Fundraising Expense$739,707
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,914,052$1,029,858$281,726$3,225,636
Grants to Domestic Individuals$2,801,401--$2,801,401
Other Employee Benefits$738,935$294,324$96,977$1,130,236
Travel$887,131$111,930-$999,061
Current Officers, Directors, Trustees, and Key Employees$194,551$313,145$151,318$659,014
Insurance$197,797$207,108-$404,905
Occupancy$176,882$143,284$47,762$367,928
Other Expenses$174,027$135,635$155,463$155,463
Depreciation Depletion$145,076--$145,076
All Other Expenses$99,259$35,747$34$135,040
Office Expenses$17,623$66,088$6,427$90,138
Advertising$2,270$74,685-$76,955
Fees for Services Accounting$27,791$47,505-$75,296
Fees for Services Other$3,044$65,340-$68,384
Fees for Services Legal$14,415--$14,415
Total Functional Expenses$8,712,107$2,524,649$739,707$11,976,463

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$11,976,463
Expenses per Audited Statements$9,175,062
Total Expenses per Audited Statements$9,143,773
Expenses Not Reported on Financial Statements$2,801,401
Other Expense Adjustments$2,801,401
Expenses Not Reported on Form 990$-31,289
International Activity

International Summary

Offices
3
Employees
37
Spending
$5,910,706

International Compliance

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

International Activities

RegionActivityServicesOfficesEmployeesSpending
SpainProgram ServicesOperation of School and Related Activities113$2,182,715
FranceProgram ServicesOperation of School and Related Activities113$2,047,255
ItalyProgram ServicesOperation of School and Related Activities111$1,680,736
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Right-of-use Obligation$225,112
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
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

Form 990 is distributed electronically to board of trustees for review prior to filing. Any questions or comments are addressed accordingly.

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

Conflict of interest disclosures are distributed and signed on an annual basis.

Form 990, Part VI, Section B, Line 15

Wages are compared against national and regional data provided by the national association of independent schools.

Form 990, Part VI, Section C, Line 18

Form 990 is available upon request at the corporate office.

Form 990, Part VI, Section C, Line 19

All governing documents, the conflict of interest policy, and audited financial statements are available upon request at the corporate office.

Filing and Contact Details

Filer

Filer Name
School Year Abroad Inc
EIN
04-2589375
Phone
9787256828
Address
120 WATER STREET 310, NORTH ANDOVER, MA 01845

Signing Officer

Name
Michael Mccarthy
Title
CFO
Phone
9787256828
Signed
2025-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Mccarthy
Formed
1965
Legal Domicile
Ma
Voting Board Members
20
Independent Board Members
19
Employees
35
Volunteers
49

Preparer

Firm
Tss Advisors LLC
Address
19 MORGAN DRIVE, LEBANON, NH 03766
Preparer
James N Godfrey CPA
Phone
6036530044
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Foreign currency exchanges 31,289.

990 , Part XII, Line 2C

Finance committee assumes responsibility for the oversight of the audited financial statements and the selection of an independent accountant.

Financial Statement Notes

PART V, LINE 4:

School year abroad's endowment funds are used for scholarships, academic support, student services, and general operating support.

PART X, LINE 2:

The school adopted the provisions of fasb interpretation no. 48, accounting for uncertainty in income taxes (fasb asc 740), on july 1, 2009. Fasb asc 740 seeks to reduce the diversity in practice associated with certain aspects of measurement and recognition in accounting for income taxes. In addition, fasb asc 740 provides guidance on derecognition, classification, interest and penalties and accounting in interim periods and requires expanded disclosure with respect to the uncertainty in income taxes. The school's accounting policy for evaluating uncertain tax positions includes a review of all material tax positions for all types of taxes in all jurisdictions and for all open years in accordance with the recognition and measurement requirements of fasb asc 740. The most common tax position for the school is a position taken in the entity's tax-exempt status.however, fasb asc 740 also looks at other forms of tax positions, including whether there are unrelated business income activities conducted that would be taxable. Once this process is completed, the positions are evaluated in terms of their likelihood to succeed. For tax positions that do not meet the definition of more likely than not to succeed, no tax benefit is considered. Only those tax positions that have a greater-than-50% chance of being sustained on audit by a knowledgeable agent are included in valuing the benefit. This analysis is performed using all relevant authorities. The school files the form 990. With few exceptions, the school is no longer subject to u.s. Federal tax examinations by tax authorities for fiscal years ending before june 30, 2021. Management of the school believes it has no material uncertain tax positions and, accordingly, it will not recognize any liabilities for unrecognized tax benefits.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

FINANCIAL AID 2,801,401.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Foreign currency exchange -31,289.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

FINANCIAL AID 2,801,401.

Raw XML AppendixShowing 400 of 726 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/Desc0SCHOOL YEAR ABROAD, INC PROVIDES EDUCATIONAL OPPORTUNITIES TO HIGH SCHOOL STUDENTS BY SENDING THEM OVERSEAS TO STUDY AT ONE OF THREE SCHOOLS IN FRANCE, ITALY,OR SPAIN.
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IRS990/Form990PartVIISectionAGrp/PersonNm18ANNE MORRISSEY
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IRS990/Form990PartVIISectionAGrp/PersonNm21ERIN ERICSON
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IRS990/Form990PartVIISectionAGrp/TitleTxt1TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt2TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt3TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt4TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt6CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt10TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt11TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt12TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt13TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt14TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt15TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt16PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt17TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt18TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt19TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt20CFO
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IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR OF ADMISSIONS
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