Civic Intelligence

Milford Academy Inc

990 • Fiscal year 2016 • EIN 06-0796368

Jul 01, 2015 to Jun 30, 2016 • Filed on May 15, 2017

Organization Profilewww.milfordacademy.org
PO Box 878New Berlin, NY 13411

(607) 847-9260

Siviq Scores

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

Liabilities / Assets

76th percentile

0.29x

Higher debt load relative to assets than 76% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

61st percentile

0.08x

Higher debt load relative to revenue than 61% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Net Margin

50th percentile

2.7%

Higher net margin than 50% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Top Officer Pay

50th percentile

$4,167

Higher top officer pay than 50% of similar nonprofits.

Top officer pay equals 0.5% of source-year revenue.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Asset Growth

86th percentile

36%

Faster asset growth than 86% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Revenue Growth

27th percentile

-9.2%

Faster revenue growth than 27% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets76th percentile

Assets

Up

$210,774

Up $56,220 (+36%) from 2015

Net Assets

Up

$149,146

Up $21,161 (+17%) from 2015

Liabilities

Up

$61,628

Up $35,059 (+132%) from 2015

Revenue And Expenses
Liabilities / Revenue61st percentileNet Margin50th percentile

Revenue

Down

$783,946

Down $79,167 (-9.2%) from 2015

Expenses

Down

$762,785

Down $121,659 (-14%) from 2015

Net Income

Up

$21,161

Up $42,492 (+199%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth86th percentile

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

$300K$200K$100K$0Assets 2011: $154,496Liabilities 2011: $50,300Net Assets 2011: $104,1962011Assets 2012: $204,911Liabilities 2012: $50,512Net Assets 2012: $154,3992012Assets 2013: $160,443Liabilities 2013: $4,500Net Assets 2013: $155,9432013Assets 2014: $171,185Liabilities 2014: $21,869Net Assets 2014: $149,3162014Assets 2015: $154,554Liabilities 2015: $26,569Net Assets 2015: $127,9852015Assets 2016: $210,774Liabilities 2016: $61,628Net Assets 2016: $149,1462016Assets 2017: $204,216Liabilities 2017: $65,513Net Assets 2017: $138,7032017Assets 2018: $273,190Liabilities 2018: $147,233Net Assets 2018: $125,9572018Assets 2019: $141,512Liabilities 2019: $97,233Net Assets 2019: $44,2792019Assets 2020: $127,797Liabilities 2020: $85,004Net Assets 2020: $42,7932020Assets 2021: $91,808Liabilities 2021: $14,100Net Assets 2021: $77,7082021

Highlighted filing

2016

Assets$210,774
Liabilities$61,628
Net Assets$149,146
Open 2016 Filing

Operations Trend

Revenue Growth27th percentile

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

$1.0M$500K$0-$500KRevenue 2011: $694,917Expenses 2011: $551,251Net Income 2011: $143,6662011Expenses 2012: $620,3582012Revenue 2013: $605,241Expenses 2013: $603,697Net Income 2013: $1,5442013Revenue 2014: $808,334Expenses 2014: $814,961Net Income 2014: -$6,6272014Revenue 2015: $863,113Expenses 2015: $884,444Net Income 2015: -$21,3312015Revenue 2016: $783,946Expenses 2016: $762,785Net Income 2016: $21,1612016Revenue 2017: $823,717Expenses 2017: $834,160Net Income 2017: -$10,4432017Revenue 2018: $675,791Expenses 2018: $688,537Net Income 2018: -$12,7462018Revenue 2019: $571,142Expenses 2019: $652,820Net Income 2019: -$81,6782019Revenue 2020: $516,508Expenses 2020: $517,994Net Income 2020: -$1,4862020Revenue 2021: $544,138Expenses 2021: $544,332Net Income 2021: -$1942021

Highlighted filing

2016

Revenue$783,946
Expenses$762,785
Net Income$21,161
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
May 15, 2017
Return Version
2015v3.0
Gross Receipts
$783,946
Mission and Program Overview

Mission

The Organization's mission is to respond to the needs of undergraduate/postgraduate student athletes who require additional educational guidance and/or athletic training.

To provide education, room and board to high school and post high school graduate students.

Balance Sheet Detail
LineBeginningEndChange
Assets
Receivables From Officers Etc$118,048$132,122▲ $14,074
Land, Buildings, and Equipment, Net$30,929$74,431▲ $43,502
Cash and Non-Interest-Bearing Accounts$5,577$4,221▼ $1,356
Total Assets$154,554$210,774▲ $56,220
Liabilities
Mortgage Notes Payable Secured by Investment Property-$40,928-
Accounts Payable and Accrued Expenses$20,700$20,700→ $0
Other Liabilities$5,869$0▼ $5,869
Total Liabilities$26,569$61,628▲ $35,059
Net Assets / Fund Balance
Unrestricted Net Assets$127,985$149,146▲ $21,161
Total Net Assets Fund Balance$127,985$149,146▲ $21,161
Total Liabilities and Net Assets / Fund Balance$154,554$210,774▲ $56,220

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$44,931$90,511$135,442
Buildings$29,500$11,228$40,728
Compensation and Service Providers
Top Officer Pay50th percentile

Employees

NameTitleFull / Part TimeBaseTotal
William ChaplickDirector of Operations/TreFT$4,167$4,167

Board Members and Trustees

NameTitle
John PaceVice President
John SchemedingDirector
Danielle ChaplickSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$783,946
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$21,161
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$633,105
Salaries, Compensation, and Employee Benefits$129,680
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$112,294--$112,294
Occupancy$49,500$16,500-$66,000
Travel$33,868--$33,868
All Other Expenses$17,832$5,943-$23,775
Insurance$13,981$4,660-$18,641
Payroll Taxes$13,219--$13,219
Other Expenses$6,880$2,293-$9,173
Current Officers, Directors, Trustees, and Key Employees$4,167--$4,167
Advertising$3,046$1,015-$4,061
Office Expenses$1,556$519-$2,075
Depreciation Depletion$1,426--$1,426
Fees for Services Other$1,400--$1,400
Total Functional Expenses$724,397$38,388$0$762,785
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
-Owned by Willian Chaplick, Chairman of the Board of the Organization.Rent Expense Paid to Blue Chip Enterprises, Inc. that owns some of the facilities used by Milford Academy.No$66,000

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$118,048$132,122▲ $14,074
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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 B, line 11

“The Governing body received a copy for From 990 before it was filed.”

Form 990, Part VI, Section C, line 19

“The organization makes governing documents, conflict of interest policies, and financial statements available upon request.”

Filing and Contact Details

Filer

Filer Name
Milford Academy Inc
EIN
06-0796368
Phone
6078479260
Address
PO Box 878, New Berlin, NY 13411

Signing Officer

Name
William Chaplick
Title
Director of Operations/Treasurer
Phone
6078479260
Signed
2017-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William Chaplick
Formed
1964
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Michael J Paolini CPA
Address
174 Cherry Street, Milford, CT 06460
Phone
2038760445
Raw XML Appendix338 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/UnrestrictedNetAssetsGrp/BOYAmt0127985
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0149146
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO Box 878
IRS990/USAddress/CityNm0New Berlin
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd013411
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0www.milfordacademy.org
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0William Chaplick
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Director of Operations/Treasurer
ReturnHeader/BusinessOfficerGrp/PhoneNum06078479260
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-05-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Milford Academy Inc
ReturnHeader/Filer/BusinessNameControlTxt0MILF
ReturnHeader/Filer/EIN0060796368
ReturnHeader/Filer/PhoneNum06078479260
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO Box 878
ReturnHeader/Filer/USAddress/CityNm0New Berlin
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd013411
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0061281956
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Michael J Paolini CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0174 Cherry Street
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Milford
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd006460
ReturnHeader/PreparerPersonGrp/PhoneNum02038760445
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02017-05-15T13:09:49-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$210,774
Liabilities
$61,628
Net assets
$149,146
Revenue
$783,946
Expenses
$762,785
Net income
$21,161
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2021Detailed filing. Detailed filing data is available for this year.$0.92$0.14$0.78$5.44$5.44$0.00
2020Detailed filing. Detailed filing data is available for this year.$1.28$0.85$0.43$5.17$5.18$0.01
2019Detailed filing. Detailed filing data is available for this year.$1.42$0.97$0.44$5.71$6.53$0.82
2018Summary only. Only limited summary data is available for this year.$2.73$1.47$1.26$6.76$6.89$0.13
2017Detailed filing. Detailed filing data is available for this year.$2.04$0.66$1.39$8.24$8.34$0.10
2016Detailed filing. Detailed filing data is available for this year.$2.11$0.62$1.49$7.84$7.63$0.21
2015Detailed filing. Detailed filing data is available for this year.$1.55$0.27$1.28$8.63$8.84$0.21
2014Detailed filing. Detailed filing data is available for this year.$1.71$0.22$1.49$8.08$8.15$0.07
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.60$0.05$1.56$6.05$6.04$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.05$0.51$1.54$6.20
2011Summary only. Only limited summary data is available for this year.$1.54$0.50$1.04$6.95$5.51$1.44