Civic Intelligence

Cape Cod Academy Inc.

990 • Fiscal year 2018 • EIN 04-2592472

Jul 01, 2017 to Jun 30, 2018 • Filed on May 14, 2019

50 Osterville West Barnstable RdOsterville, MA 02655

(508) 428-5400

Siviq Scores

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

Liabilities / Assets

80th percentile

0.64x

Higher debt load relative to assets than 80% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Liabilities / Revenue

82nd percentile

1.24x

Higher debt load relative to revenue than 82% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Net Margin

5th percentile

-51%

Higher net margin than 5% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2018

Asset Growth

15th percentile

-7.0%

Faster asset growth than 15% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Revenue Growth

54th percentile

5.5%

Faster revenue growth than 54% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Assets

Down

$13,919,299

Down $1,045,708 (-7.0%) from 2017

Net Assets

Down

$5,071,904

Down $3,628,546 (-42%) from 2017

Liabilities

Up

$8,847,395

Up $2,582,838 (+41%) from 2017

Revenue

Up

$7,121,816

Up $369,470 (+5.5%) from 2017

Expenses

Up

$10,750,362

Up $890,668 (+9.0%) from 2017

Net Income

Down

-$3,628,546

Down $521,198 (-17%) from 2017

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2011: $22,668,786Liabilities 2011: $3,456,438Net Assets 2011: $19,212,3482011Assets 2012: $21,296,298Liabilities 2012: $3,279,141Net Assets 2012: $18,017,1572012Assets 2013: $19,231,122Liabilities 2013: $2,224,175Net Assets 2013: $17,006,9472013Assets 2014: $18,079,294Liabilities 2014: $2,139,412Net Assets 2014: $15,939,8822014Assets 2015: $15,956,246Liabilities 2015: $1,816,197Net Assets 2015: $14,140,0492015Assets 2016: $15,260,038Liabilities 2016: $3,452,240Net Assets 2016: $11,807,7982016Assets 2017: $14,965,007Liabilities 2017: $6,264,557Net Assets 2017: $8,700,4502017Assets 2018: $13,919,299Liabilities 2018: $8,847,395Net Assets 2018: $5,071,9042018Assets 2019: $12,894,470Liabilities 2019: $9,481,977Net Assets 2019: $3,412,4932019Assets 2020: $13,451,866Liabilities 2020: $12,301,634Net Assets 2020: $1,150,2322020Assets 2021: $13,242,497Liabilities 2021: $11,974,826Net Assets 2021: $1,267,6712021Assets 2022: $13,042,958Liabilities 2022: $11,269,689Net Assets 2022: $1,773,2692022Assets 2023: $11,947,219Liabilities 2023: $9,491,598Net Assets 2023: $2,455,6212023Assets 2024: $11,946,691Liabilities 2024: $9,434,413Net Assets 2024: $2,512,2782024

Highlighted filing

2018

Assets$13,919,299
Liabilities$8,847,395
Net Assets$5,071,904

Operations Trend

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

$15M$10M$5.0M$0-$5.0MRevenue 2011: $7,810,829Expenses 2011: $8,701,967Net Income 2011: -$891,1382011Revenue 2012: $8,123,553Expenses 2012: $9,343,140Net Income 2012: -$1,219,5872012Revenue 2013: $8,567,970Expenses 2013: $9,729,099Net Income 2013: -$1,161,1292013Revenue 2014: $8,227,171Expenses 2014: $9,500,380Net Income 2014: -$1,273,2092014Revenue 2015: $7,610,473Expenses 2015: $8,900,698Net Income 2015: -$1,290,2252015Revenue 2016: $6,987,606Expenses 2016: $9,319,886Net Income 2016: -$2,332,2802016Revenue 2017: $6,752,346Expenses 2017: $9,859,694Net Income 2017: -$3,107,3482017Revenue 2018: $7,121,816Expenses 2018: $10,750,362Net Income 2018: -$3,628,5462018Revenue 2019: $8,210,596Expenses 2019: $9,869,747Net Income 2019: -$1,659,1512019Revenue 2020: $7,418,980Expenses 2020: $9,681,241Net Income 2020: -$2,262,2612020Revenue 2021: $10,612,014Expenses 2021: $10,494,575Net Income 2021: $117,4392021Revenue 2022: $11,563,830Expenses 2022: $11,058,232Net Income 2022: $505,5982022Revenue 2023: $12,157,932Expenses 2023: $11,475,580Net Income 2023: $682,3522023Revenue 2024: $11,255,977Expenses 2024: $11,199,320Net Income 2024: $56,6572024

Highlighted filing

2018

Revenue$7,121,816
Expenses$10,750,362
Net Income-$3,628,546
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 14, 2019
Return Version
2017v2.3
Gross Receipts
$7,967,959
Mission and Program Overview

Mission

Cape cod academy, inc. ("the academy") fosters a life-long drive to learn and grow and make a difference in world. The academy teaches students habits of heart and mind that prepare them to be successful in college, healthy in life and contributors to society - both locally and globally.

Cape cod academy, inc. ("the academy") fosters a life-long drive to learn and grow and make a difference in the world. The academy teaches students habits of heart and mind that prepare them to be successful in college, healty in life, and contributors to society - both locally and globally.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$13,549,666$13,031,935▼ $517,731
Loans From Officers Directors$3,000,000$5,750,000▲ $2,750,000
Investments in Publicly Traded Securities$814,865$0▼ $814,865
Cash and Non-Interest-Bearing Accounts$0$720,347▲ $720,347
Prepaid Expenses and Deferred Charges$107,269$79,119▼ $28,150
Accounts Receivable$97,826$38,649▼ $59,177
Savings and Temporary Cash Investments$381,896$24,735▼ $357,161
Pledges and Grants Receivable$0$22,737▲ $22,737
Other Notes and Loans Receivable, Net$13,485$1,777▼ $11,708
Total Assets$14,965,007$13,919,299▼ $1,045,708
Liabilities
Accounts Payable and Accrued Expenses$1,032,028$1,112,616▲ $80,588
Mortgage Notes Payable Secured by Investment Property$1,000,000$1,000,000→ $0
Deferred Revenue$1,232,529$984,779▼ $247,750
Total Liabilities$6,264,557$8,847,395▲ $2,582,838
Net Assets / Fund Balance
Unrestricted Net Assets$8,510,354$4,891,912▼ $3,618,442
Permanently Rstr Net Assets$177,091$177,142▲ $51
Temporarily Rstr Net Assets$13,005$2,850▼ $10,155
Total Net Assets Fund Balance$8,700,450$5,071,904▼ $3,628,546
Total Liabilities and Net Assets / Fund Balance$14,965,007$13,919,299▼ $1,045,708

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$9,329,274$7,981,889$17,311,163
Land$3,063,462-$3,063,462
Equipment$156,462$1,400,466$1,556,928
Leasehold Improvements$482,737$878,697$1,361,434

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$814,865-▲ $4,381$819,246-
2016$819,136-▼ $4,271-$814,865
2015$815,405$229,080▲ $3,439$228,788$819,136
2014$2,215,365$278,336▲ $55,223$1,733,519$815,405
2013$2,324,732$270,856▲ $262,643$642,866$2,215,365
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Thomas TriggHead of SchoolFT$283,844$64,883$348,727
Mary Jane KeoughDirector of Finance and OpFT$149,249$13,507$162,756
Jeff ThompsonDirector of AdvancmentFT$106,500-$106,500

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$290,054
Program Service Revenue
$6,520,869
Investment Income
$7,559
Other Revenue
$303,334
All Other Contributions
$290,054
Change in Net Assets
$-3,628,546

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 Traded3$61,664Investment Value
Total Noncash Contributions3$61,664-

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,151,888
Revenue Not Reported on Financial Statements
$1,969,928
Revenue Not Reported on Form 990
$31,537
Other Revenue Adjustments
$1,969,928
Total Revenue per Audited Statements
$5,183,425
Total Revenue per Form 990
$7,121,816
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$5,326,797
Other Expenses$3,453,637
Grants and Similar Amounts Paid$1,969,928
Total Fundraising Expense$343,834
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,986,307$1,725,150$224,361$3,935,818
Grants to Domestic Individuals$1,969,928--$1,969,928
Other Employee Benefits$341,868$327,539$21,137$690,544
Depreciation Depletion$510,835$49,994$26,123$586,952
Current Officers, Directors, Trustees, and Key Employees$329,812$109,937-$439,749
Advertising-$309,439-$309,439
Interest-$278,089-$278,089
Other Expenses$196,964$645,456-$196,964
Payroll Taxes$167,744$3,000$17,160$187,904
All Other Expenses-$143,500$42,995$186,495
Occupancy$150,132--$150,132
Insurance-$140,495-$140,495
Fees for Services Other-$86,581-$86,581
Pension Plan Contributions$31,933$40,849-$72,782
Information Technology-$60,301-$60,301
Fees for Services Legal-$56,638-$56,638
Office Expenses-$19,373$12,058$31,431
Conferences and Meetings-$29,811-$29,811
Fees for Services Accounting-$18,935-$18,935
Travel-$3,753-$3,753
Fees for Service Investment Mgmnt Fees-$1,288-$1,288
Total Functional Expenses$6,356,400$4,050,128$343,834$10,750,362

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$10,750,362
Total Expenses per Audited Statements$8,811,971
Expenses per Audited Statements$8,780,434
Expenses Not Reported on Financial Statements$1,969,928
Other Expense Adjustments$1,969,928
Expenses Not Reported on Form 990$31,537
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$142,548
Fundraising Direct Expenses$31,537
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fundraising Event$142,548$142,548$31,537$111,011
Total Events$142,548$142,548$31,537$111,011
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
Loans from Officers, Directors, Trustees, and Key Employees$3,000,000$5,750,000▲ $2,750,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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

Organization's process used to review form 990: form 990 is reviewed by the director of finance, head of school, auditors and the finance committee and by the board of trustees.

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

Enforcement of conflicts policy: a conflict of interest disclosure form is formally presented, reviewed and completed by each trustee. It is referenced as needed by the board and staff throughout the year.

Form 990, Part VI, Section B, Line 15

Line 15a- compensation process for top officials reviewed and approved by the executive board, line 15b- compensation process for officers reviewed and approved by the executive board

Form 990, Part VI, Section C, Line 19

The organization will make its governing documents, conflict of interest policy, and financial statements available to the public upon request. The organization maintains a website where directions, phone numbers, top staff names, the current board of directors list, and email addresses are available for contact.

Filing and Contact Details

Filer

Filer Name
Cape Cod Academy
EIN
04-2592472
Phone
5084285400
Address
50 OSTERVILLE WEST BARNSTABLE RD, OSTERVILLE, MA 02655

Signing Officer

Name
Mr James T Hoeck
Title
Treasurer
Phone
5084285400
Signed
2019-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mr James T Hoeck
Formed
1976
Legal Domicile
Ma
Voting Board Members
11
Independent Board Members
11
Employees
142
Volunteers
73

Preparer

Firm
Citrin Cooperman & Company Llp
Address
10 FORBES ROAD WEST, BRAINTREE, MA 02184
Preparer
Bonnie Simmons
Phone
7813562000
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The audit oversight process has not changed from the prior year.

Financial Statement Notes

PART X, LINE 2:

The academy is exempt from federal and state income taxes under section 501(c)(3) of the internal revenue code and, accordingly, no provision for income taxes has been recorded in the accompanying financial statements. The academy accounts for uncertain tax positions in accordance with fasb asc topic income taxes. The topic prescribes a recognition threshold and measurement process for financial statement recognition of uncertain tax positions taken or expected to be taken in a tax return. The topic also provides guidance on recognition, derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. At june 30, 2018, management believes that the academy has no material uncertain tax positions. The academy is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Fundraising expenses: form 990, part viii, line 8b 31,537.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Financial aid & faculty tuition remission 1,969,928.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Fundraising expenses: form 990, part viii, line 8b 31,537.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Financial aid & faculty tuition remission 1,969,928.

Form 990

Page 2 -part v, line 4 - intended use of endowment funds: faculty development, scholarships, awards, library, financial aid and cultural programs page 4 -part xiii line 4(b) - financial aid netted against tuition and fee revenue on financial statements and shown as grants and other assistance paid to individuals on tax return. - $1,969,928

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IRS990/Form990PartVIISectionAGrp/TitleTxt4TRUSTEE
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IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0327539
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0341868
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IRS990/PoliticalCampaignActyInd00
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IRS990/PrincipalOfficerNm0MR JAMES T HOECK
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IRS990/ReportProgramRelatedInvstInd00
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IRS990/ScheduleBRequiredInd01
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IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0262643
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IRS990ScheduleD/OtherExpensesIncludedAmt031537
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IRS990ScheduleD/OtherRevenueAmt031537
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IRS990ScheduleD/RevenueNotReportedAmt031537
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$11.9$9.43$2.51$11.3$11.2$0.06
2023Detailed filing. Detailed filing data is available for this year.$11.9$9.49$2.46$12.2$11.5$0.68
2022Detailed filing. Detailed filing data is available for this year.$13.0$11.3$1.77$11.6$11.1$0.51
2021Detailed filing. Detailed filing data is available for this year.$13.2$12.0$1.27$10.6$10.5$0.12
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.5$12.3$1.15$7.42$9.68$2.26
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.9$9.48$3.41$8.21$9.87$1.66
2018Detailed filing. Detailed filing data is available for this year.$13.9$8.85$5.07$7.12$10.8$3.63
2017Detailed filing. Detailed filing data is available for this year.$15.0$6.26$8.70$6.75$9.86$3.11
2016Detailed filing. Detailed filing data is available for this year.$15.3$3.45$11.8$6.99$9.32$2.33
2015Detailed filing. Detailed filing data is available for this year.$16.0$1.82$14.1$7.61$8.90$1.29
2014Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$18.1$2.14$15.9$8.23$9.50$1.27
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$19.2$2.22$17.0$8.57$9.73$1.16
2012Summary only. Only limited summary data is available for this year.$21.3$3.28$18.0$8.12$9.34$1.22
2011Summary only. Only limited summary data is available for this year.$22.7$3.46$19.2$7.81$8.70$0.89
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2018 filings • 501(c)3 • $10M-$25M nonprofits