Civic Intelligence

Greens Farms Academy Inc

EIN 06-0733693 • 501(c)3 • Greens Farms, CT

View Organization Page

Profile

Gfa engages students as partners in an innovative, inclusive, and globally minded community to prepare them for a life of purpose.

35 Beachside Avenue PO Box 998Greens Farms, CT 06838-0998

www.gfacademy.org

Siviq Scores

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

Liabilities / Assets

49th percentile

0.25x

Higher debt load relative to assets than 49% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

73rd percentile

1.00x

Higher debt load relative to revenue than 73% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Net Margin

58th percentile

7.6%

Higher net margin than 58% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

77th percentile

$891,290

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 1.8% of source-year revenue.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Asset Growth

89th percentile

24%

Faster asset growth than 89% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

47th percentile

7.1%

Faster revenue growth than 47% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets49th percentile

Assets

Up

$196,307,054

Up $38,270,265 (+24%) from 2023

Liabilities

Up

$49,755,966

Up $29,959,852 (+151%) from 2023

Net Assets

Up

$146,551,088

Up $8,310,413 (+6.0%) from 2023

Operations
Liabilities / Revenue73rd percentileNet Margin58th percentile

Revenue

Up

$49,695,911

Up $3,299,919 (+7.1%) from 2023

Expenses

Up

$45,898,396

Up $3,325,226 (+7.8%) from 2023

Net Income

Down

$3,797,515

Down $25,307 (-0.7%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth89th percentile

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

$200M$150M$100M$50M$0Assets 2010: $88,080,083Liabilities 2010: $23,179,478Net Assets 2010: $64,900,6052010Assets 2011: $96,985,033Liabilities 2011: $23,867,477Net Assets 2011: $73,117,5562011Assets 2012: $97,998,113Liabilities 2012: $23,840,791Net Assets 2012: $74,157,3222012Assets 2013: $105,465,417Liabilities 2013: $21,942,531Net Assets 2013: $83,522,8862013Assets 2014: $116,690,225Liabilities 2014: $22,917,880Net Assets 2014: $93,772,3452014Assets 2015: $123,651,561Liabilities 2015: $23,561,614Net Assets 2015: $100,089,9472015Assets 2016: $127,174,789Liabilities 2016: $22,598,965Net Assets 2016: $104,575,8242016Assets 2017: $127,827,231Liabilities 2017: $15,593,676Net Assets 2017: $112,233,5552017Assets 2018: $132,726,399Liabilities 2018: $14,234,248Net Assets 2018: $118,492,1512018Assets 2019: $136,378,992Liabilities 2019: $15,805,587Net Assets 2019: $120,573,4052019Assets 2020: $136,366,230Liabilities 2020: $14,520,143Net Assets 2020: $121,846,0872020Assets 2021: $154,608,768Liabilities 2021: $18,820,825Net Assets 2021: $135,787,9432021Assets 2022: $150,140,692Liabilities 2022: $20,436,837Net Assets 2022: $129,703,8552022Assets 2023: $158,036,789Liabilities 2023: $19,796,114Net Assets 2023: $138,240,6752023Assets 2024: $196,307,054Liabilities 2024: $49,755,966Net Assets 2024: $146,551,0882024

Highlighted filing

2024

Assets$196,307,054
Liabilities$49,755,966
Net Assets$146,551,088
Open 2024 Filing

Operations Trend

Revenue Growth47th percentile

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

$60M$40M$20M$0Expenses 2010: $22,404,5262010Expenses 2011: $23,649,7352011Revenue 2012: $27,237,761Expenses 2012: $25,064,113Net Income 2012: $2,173,6482012Revenue 2013: $33,997,334Expenses 2013: $26,692,094Net Income 2013: $7,305,2402013Revenue 2014: $32,252,008Expenses 2014: $27,348,518Net Income 2014: $4,903,4902014Revenue 2015: $36,072,710Expenses 2015: $28,615,172Net Income 2015: $7,457,5382015Revenue 2016: $36,200,199Expenses 2016: $30,361,692Net Income 2016: $5,838,5072016Revenue 2017: $38,438,260Expenses 2017: $32,799,113Net Income 2017: $5,639,1472017Revenue 2018: $41,629,096Expenses 2018: $33,395,517Net Income 2018: $8,233,5792018Revenue 2019: $37,296,004Expenses 2019: $35,369,136Net Income 2019: $1,926,8682019Revenue 2020: $38,370,365Expenses 2020: $37,042,560Net Income 2020: $1,327,8052020Revenue 2021: $42,085,410Expenses 2021: $39,181,355Net Income 2021: $2,904,0552021Revenue 2022: $43,090,585Expenses 2022: $41,723,014Net Income 2022: $1,367,5712022Revenue 2023: $46,395,992Expenses 2023: $42,573,170Net Income 2023: $3,822,8222023Revenue 2024: $49,695,911Expenses 2024: $45,898,396Net Income 2024: $3,797,5152024

Highlighted filing

2024

Revenue$49,695,911
Expenses$45,898,396
Net Income$3,797,515
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$196,307,054
Liabilities
$49,755,966
Net assets
$146,551,088
Revenue
$49,695,911
Expenses
$45,898,396
Net income
$3,797,515
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$196$49.8$147$49.7$45.9$3.80
2023Detailed filing. Detailed filing data is available for this year.$158$19.8$138$46.4$42.6$3.82
2022Detailed filing. Detailed filing data is available for this year.$150$20.4$130$43.1$41.7$1.37
2021Detailed filing. Detailed filing data is available for this year.$155$18.8$136$42.1$39.2$2.90
2020Detailed filing. Detailed filing data is available for this year.$136$14.5$122$38.4$37.0$1.33
2019Detailed filing. Detailed filing data is available for this year.$136$15.8$121$37.3$35.4$1.93
2018Detailed filing. Detailed filing data is available for this year.$133$14.2$118$41.6$33.4$8.23
2017Detailed filing. Detailed filing data is available for this year.$128$15.6$112$38.4$32.8$5.64
2016Detailed filing. Detailed filing data is available for this year.$127$22.6$105$36.2$30.4$5.84
2015Detailed filing. Detailed filing data is available for this year.$124$23.6$100$36.1$28.6$7.46
2014Detailed filing. Detailed filing data is available for this year.$117$22.9$93.8$32.3$27.3$4.90
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$105$21.9$83.5$34.0$26.7$7.31
2012Summary only. Only limited summary data is available for this year.$98.0$23.8$74.2$27.2$25.1$2.17
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$97.0$23.9$73.1$23.6
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$88.1$23.2$64.9$22.4
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 12, 2025
Return Version
2023v6.0
Gross Receipts
$55,333,185
Mission and Program Overview

Mission

Gfa engages students as partners in an innovative, inclusive, and globally minded community to prepare them for a life of purpose.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$76,636,380$78,823,704▲ $2,187,324
Savings and Temporary Cash Investments$24,130,499$53,705,588▲ $29,575,089
Investments in Publicly Traded Securities$37,689,035$45,045,904▲ $7,356,869
Investments Other Securities$15,002,681$12,255,209▼ $2,747,472
Accounts Receivable$1,784,206$2,987,356▲ $1,203,150
Pledges and Grants Receivable$2,263,803$2,253,854▼ $9,949
Prepaid Expenses and Deferred Charges$224,479$238,196▲ $13,717
Cash and Non-Interest-Bearing Accounts$575$3,145▲ $2,570
Total Assets$158,036,789$196,307,054▲ $38,270,265
Other Assets Total$305,131$994,098▲ $688,967
Liabilities
Tax Exempt Bond Liabilities-$29,523,326-
Deferred Revenue$16,096,523$16,539,696▲ $443,173
Accounts Payable and Accrued Expenses$3,689,591$3,023,047▼ $666,544
Other Liabilities$0$669,897▲ $669,897
Unsecured Notes Loans Payable$10,000--
Total Liabilities$19,796,114$49,755,966▲ $29,959,852
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$126,895,534$133,213,596▲ $6,318,062
Net Assets With Donor Restrictions$11,345,141$13,337,492▲ $1,992,351
Total Net Assets Fund Balance$138,240,675$146,551,088▲ $8,310,413
Total Liabilities and Net Assets / Fund Balance$158,036,789$196,307,054▲ $38,270,265

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$64,171,791$37,906,487$102,078,278
Other Land Buildings$7,336,850$3,612,800$10,949,650
Land$5,725,539-$5,725,539
Equipment$1,589,524$3,634,474$5,223,998
Other Securities$367,296--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$46,700,371$722,736▲ $5,241,518$1,080,900$51,277,907
2022$43,742,387$283,396▲ $3,875,263$913,201$46,700,371
2021$50,116,998$146,360▼ $5,161,791$1,027,297$43,742,387
2020$40,093,328$129,518▲ $11,675,514$1,591,889$50,116,998
2019$39,234,686$143,253▲ $950,594$51,167$40,093,328
Compensation and Service Providers
Top Officer Pay77th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Robert WhelanHead of SchoolFT$615,451$275,839$891,290
Jennifer CampbellChief Finance & OperationsFT$322,807$105,490$428,297
Joseph FlynnDirector of Institutional AdvancementFT$286,409$57,546$343,955
Joseph FlynnDirector of Institutional Advancemen-$262,409$81,546$343,955
Andrew MeyerHead of the Middle SchoolFT$182,439$54,497$236,936
Eric LeeAthletic DirectorFT$174,198$53,184$227,382
Mathieu FreemanAdmission DirectorFT$155,731$53,828$209,559
Tara HulmeDirector of Major GiftsFT$152,902$50,668$203,570
Suzzanna TeyanAssociate Head of SchoolFT$172,427$28,839$201,266
Raymond Weaver IiiDirector of Campus PlanningFT$142,249$34,390$176,639

Board Members and Trustees

NameTitle
Ward K HortonChair
Don San JoseCo-vice Chair
Vani BettegowdaCo-vice Chair
Andy PapadakosTrustee
Angela TimashevTrustee
David DurkinTrustee
Emily Von KohornTrustee
Gil AikinsTrustee
Kim Keller RaveisTrustee
Melanie SmithTrustee
Nadene Mckenzie-reidTrustee
Page TremaineTrustee
Rebecca BlissTrustee
Renee BeaTrustee
Roger FerrisTrustee
Roopali HallTrustee
Sandra FrostTrustee
Sanford EwingTrustee
Sean ObiTrustee
Thomas MurphyTrustee
William L BucknallTrustee
Meade FogelSecretary
Michael BlitzerTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Roger Ferris Partners LLCArchitectual Services11 WILTON ROAD, Westport, CT 06880$828,303
Fab Maintenance Services LLCCleaning Services9 PARK STREET 108, Norwalk, CT 06851$214,822
Connecticut Transportation Solutions LLCTransportation ServicesPO BOX 4110 DEPT 5261, Woburn, MA 01888-4110$134,567
Lelio VleuxFood/catering Service179-26 144TH ROAD, Jamaica, NY 11434$109,096
Revenue and Support

Revenue Composition

Contributions and Grants
$6,962,625
Program Service Revenue
$39,451,112
Investment Income
$2,831,665
Other Revenue
$450,509
All Other Contributions
$6,339,771
Change in Net Assets
$3,797,515

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 Traded29$1,546,722Fair Market Value (FMV)
Total Noncash Contributions29$1,546,722-

Audited Revenue Reconciliation

Revenue per Audited Statements
$43,809,319
Revenue Not Reported on Financial Statements
$5,886,592
Revenue Not Reported on Form 990
$4,727,395
Other Revenue Adjustments
$5,798,735
Total Revenue per Audited Statements
$48,536,714
Total Revenue per Form 990
$49,695,911
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$26,140,118
Other Expenses$13,657,560
Grants and Similar Amounts Paid$6,094,718
Total Fundraising Expense$2,186,607
Professional Fundraising Fees$6,000

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$15,053,481$980,897$754,286$16,788,664
Grants to Domestic Individuals$6,094,718--$6,094,718
Other Employee Benefits$3,684,435$207,554$184,788$4,076,777
Depreciation Depletion$3,763,309$74,896-$3,838,205
Current Officers, Directors, Trustees, and Key Employees$1,694,323$478,112$603,588$2,776,023
Occupancy$2,158,534$46,026$12,732$2,217,292
Payroll Taxes$1,105,702$98,351$90,699$1,294,752
Pension Plan Contributions$1,106,050$54,468$43,384$1,203,902
All Other Expenses$641,590$76,811$34$718,435
Interest$687,317$14,027-$701,344
Other Expenses$675,236$2,589-$675,236
Information Technology$546,899--$546,899
Fees for Services Other$339,089$113,266$67,272$519,627
Advertising$6,797-$320,880$327,677
Insurance$230,442$4,703-$235,145
Travel$222,822--$222,822
Conferences and Meetings$37,017$2,238$99,985$139,240
Fees for Services Accounting-$137,034-$137,034
Office Expenses$132,396$119$2,959$135,474
Fees for Services Legal-$129,615-$129,615
Fees for Service Investment Mgmnt Fees-$87,857-$87,857
Fees for Services Professional Fundraising--$6,000$6,000
Total Functional Expenses$41,203,226$2,508,563$2,186,607$45,898,396

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$45,898,396
Total Expenses per Audited Statements$40,226,301
Expenses per Audited Statements$40,011,804
Expenses Not Reported on Financial Statements$5,886,592
Other Expense Adjustments$5,798,735
Expenses Not Reported on Form 990$214,497
International Activity

International Summary

Offices
0
Employees
0
Spending
$11,338,928

International Compliance

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

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestments-00$11,338,928
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$349,239
Fundraising Direct Expenses$175,657
Professional Fundraising Fees$6,000

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Horizons Fall Gala$730,014$286,180$45,330$240,850
Golf Event$242,079$63,059$16,433$46,626
Total Events$972,093$349,239$175,657$173,582
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
-Owner, Roger Ferris, Is a TrusteeArchitectural ServicesNo$318,764
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Right of Use Liabilities$669,897

Bond Issues

BondIssuerIssuedIssue PricePurpose
AChefa 2023 Series a2023-12-08$30,000,000Financing lower school dining & assembly and athletics & wellness center pro

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$30,000,000--$442,158

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
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 A, Line 8B

“No committee has authority to act on behalf of the governing body.”

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

“The academy's form 990 is prepared by the school's tax advisors with information provided by management. Upon review and approval, the 990 is reviewed with and distributed to the head of school, the board treasurer & president and the cfo, along with the finance committee, before submitting to the irs. The form 990 is provided to all board members to review through a secure portal.”

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

“Annually, each trustee, officer, and member of a committee with powers delegated by the governing board shall sign a statement that affirms: he or she has received a copy of the conflict of interest policy, has read and understood the policy, has agreed to comply with the policy, and understands that the school is charitable, and, in order to maintain its federal tax exemption, it must engage primarily in activities that accomplish one or more of its tax-exempt purposes. Periodic reviews are completed to determine, at a minimum: whether compensation arrangements and benefits are reasonable, based on competent survey information, and the result of arm's length bargaining, and whether partnerships, joint ventures, and arrangements with management organizations conform to the school's written policies, are properly recorded, reflect reasonable payments for goods and services, further charitable purposes, and do not result in inurement, impermissible private benefit, or an excess benefit transaction.”

Form 990, Part VI, Section B, Line 15

“The head of school was employed in fiscal 2022 under a 3 year contract running from july 1, 2021 until june 30, 2024. The compensation package in the agreement was determined by the head of school compensation committee using comparable compensation data from area peer schools and results from the annual head of school performance review. The head of school is evaluated annually versus goals mutually agreed by the board and nais standards. The head of school reviews comparable peer data and determines compensation for other officers and key employees within the overall compensation parameters / budget set by the board. These compensation deliberations and decisions are documented.”

Form 990, Part VI, Section C, Line 19

“The academy makes the form 990 available upon request at the academy's place of business. The academy does not make its governing documents, conflict of interest statement, and financial statements available to the public.”

Filing and Contact Details

Filer

Filer Name
Greens Farms Academy Inc
EIN
06-0733693
Phone
2032567543
Address
35 BEACHSIDE AVENUE PO BOX 998, GREENS FARMS, CT 06838-0998

Signing Officer

Name
Jennifer Campbell
Title
Chief Finance & Operating Officer
Phone
2032567543
Signed
2025-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jennifer Campbell
Formed
1925
Legal Domicile
Ct
Voting Board Members
23
Independent Board Members
22
Employees
383
Volunteers
215

Preparer

Firm
Cliftonlarsonallen Llp
Address
TWO INTERNATIONAL PLACE 22ND FLOOR, BOSTON, MA 02110
Preparer
Laura J Kenney
Phone
6177170831
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Uncollectible pledges 32,868.”

Financial Statement Notes

PART V, LINE 4:

“The purpose of the endowment is to provide support for greens farms academy and its mission over the long term. In determining investment and draw policies, the school's goal is to ensure that the future growth of the endowment is sufficient to offset normal inflation plus reasonable spending, thereby preserving the real (inflation-adjusted) value and purchasing power of the fund for future generations.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Rental expenses 71,708. Fundraising expenses 175,657.”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“FINANCIAL AID 5,798,735.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Fundraising expenses 71,708. Rental expenses 175,657. Uncollectible pledges -32,868.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“FINANCIAL AID 5,798,735.”

Raw XML AppendixShowing 400 of 1,125 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/Desc0AT GFA, WE BELIEVE A PRE-KINDERGARTEN THROUGH 12TH GRADE EDUCATION CAN BE JOYFUL. WE INVITE OUR STUDENTS TO THINK BIG, QUESTION OFTEN AND STAY GROUNDED IN OUR CORE VALUES OF PASSION, INTEGRITY, EMPATHY, CURIOSITY, AND EXCELLENCE. STUDENTS ARE AT THE CENTER OF EVERYTHING, AS KNOWN AND ENGAGED PARTNERS IN THEIR OWN LEARNING. THEY TAKE PRIDE IN THEIR ACHIEVEMENTS, DEFINE WHAT EXCELLENCE MEANS FOR THEM, AND THEN RISE TO MEET IT. INNOVATION IS NOT A BUZZWORD AT GFA. HERE, THOUGHTFUL PROGRESS TRAVELS ALONGSIDE A LEGACY OF ACADEMIC STRENGTH. GFA PROUDLY HELPS SHAPE MEN AND WOMEN OF CHARACTER WHO WILL LEAVE THEIR MARK ON THE BROADER GLOBAL COMMUNITY.
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