Civic Intelligence

Albany Academy

EIN 14-1338579 • 501(c)3 • Albany, NY

Profile

The albany acadamies is a preschool-grade 12 independent college-prepatory single-gender school committed to developing the potential of the whole individual by building a community that fosters scholarship, leadership, character, service and creativity. Our core values include responsibility, self-discipline, compassion, ingenuity, respect, service, integrity and perserverance.

140 Academy RoadAlbany, NY 12208

www.albanyacademies.org

Siviq Scores

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

Liabilities / Assets

42nd percentile

0.17x

Higher debt load relative to assets than 42% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Liabilities / Revenue

57th percentile

0.43x

Higher debt load relative to revenue than 57% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Net Margin

48th percentile

3.8%

Higher net margin than 48% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Top Officer Pay

30th percentile

$250,189

Higher top officer pay than 30% of similar nonprofits.

Top officer pay equals 1.1% of source-year revenue.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Asset Growth

56th percentile

7.4%

Faster asset growth than 56% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2024 to 2025

Revenue Growth

56th percentile

11%

Faster revenue growth than 56% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2024 to 2025

Assets

Up

$53,692,609

Up $719,440 (+1.4%) from 2022

Liabilities

Up

$9,001,632

Up $391,952 (+4.6%) from 2022

Net Assets

Up

$44,690,977

Up $327,488 (+0.7%) from 2022

Revenue

Down

$19,906,511

Down $1,278,305 (-6.0%) from 2022

Expenses

Up

$22,308,538

Up $621,471 (+2.9%) from 2022

Net Income

Down

-$2,402,027

Down $1,899,776 (-378%) from 2022

Trend Graphs

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2010: $35,293,609Liabilities 2010: $11,173,254Net Assets 2010: $24,120,3552010Assets 2011: $37,964,248Liabilities 2011: $10,637,943Net Assets 2011: $27,326,3052011Assets 2012: $37,577,871Liabilities 2012: $11,753,155Net Assets 2012: $25,824,7162012Assets 2013: $43,449,148Liabilities 2013: $11,800,695Net Assets 2013: $31,648,4532013Assets 2014: $47,950,929Liabilities 2014: $11,789,632Net Assets 2014: $36,161,2972014Assets 2015: $49,447,355Liabilities 2015: $12,161,991Net Assets 2015: $37,285,3642015Assets 2016: $48,910,484Liabilities 2016: $11,481,260Net Assets 2016: $37,429,2242016Assets 2017: $49,995,937Liabilities 2017: $10,811,568Net Assets 2017: $39,184,3692017Assets 2018: $50,621,169Liabilities 2018: $10,267,650Net Assets 2018: $40,353,5192018Assets 2019: $51,916,554Liabilities 2019: $10,588,591Net Assets 2019: $41,327,9632019Assets 2020: $55,091,060Liabilities 2020: $10,639,088Net Assets 2020: $44,451,9722020Assets 2021: $58,726,077Liabilities 2021: $8,636,278Net Assets 2021: $50,089,7992021Assets 2022: $52,973,169Liabilities 2022: $8,609,680Net Assets 2022: $44,363,4892022Assets 2023: $53,692,609Liabilities 2023: $9,001,632Net Assets 2023: $44,690,9772023

Highlighted filing

2023

Assets$53,692,609
Liabilities$9,001,632
Net Assets$44,690,977

Operations Trend

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

$30M$20M$10M$0-$10MExpenses 2010: $14,890,5662010Expenses 2011: $15,045,7982011Expenses 2012: $16,431,0462012Revenue 2013: $21,791,227Expenses 2013: $17,162,859Net Income 2013: $4,628,3682013Revenue 2014: $20,511,925Expenses 2014: $17,609,941Net Income 2014: $2,901,9842014Revenue 2015: $19,215,500Expenses 2015: $18,352,078Net Income 2015: $863,4222015Revenue 2016: $19,205,301Expenses 2016: $18,762,500Net Income 2016: $442,8012016Revenue 2017: $20,115,555Expenses 2017: $19,256,432Net Income 2017: $859,1232017Revenue 2018: $19,811,340Expenses 2018: $19,955,679Net Income 2018: -$144,3392018Revenue 2019: $20,712,719Expenses 2019: $20,084,633Net Income 2019: $628,0862019Revenue 2020: $22,822,883Expenses 2020: $19,854,981Net Income 2020: $2,967,9022020Revenue 2021: $27,181,105Expenses 2021: $19,840,080Net Income 2021: $7,341,0252021Revenue 2022: $21,184,816Expenses 2022: $21,687,067Net Income 2022: -$502,2512022Revenue 2023: $19,906,511Expenses 2023: $22,308,538Net Income 2023: -$2,402,0272023

Highlighted filing

2023

Revenue$19,906,511
Expenses$22,308,538
Net Income-$2,402,027

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$53.7$9.00$44.7$19.9$22.3$2.40
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$53.0$8.61$44.4$21.2$21.7$0.50
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$58.7$8.64$50.1$27.2$19.8$7.34
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$55.1$10.6$44.5$22.8$19.9$2.97
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$51.9$10.6$41.3$20.7$20.1$0.63
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$50.6$10.3$40.4$19.8$20.0$0.14
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$50.0$10.8$39.2$20.1$19.3$0.86
2016Summary only. Only limited summary data is available for this year.$48.9$11.5$37.4$19.2$18.8$0.44
2015Summary only. Only limited summary data is available for this year.$49.4$12.2$37.3$19.2$18.4$0.86
2014Detailed filing. Detailed filing data is available for this year.$48.0$11.8$36.2$20.5$17.6$2.90
2013Summary only. Only limited summary data is available for this year.$43.4$11.8$31.6$21.8$17.2$4.63
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$37.6$11.8$25.8$16.4
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$38.0$10.6$27.3$15.0
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$35.3$11.2$24.1$14.9
Latest Detailed Filing

The latest 2023 filing currently has summary financial data only. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Apr 6, 2023
Return Version
2021v4.2
Gross Receipts
$41,175,524
Mission and Program Overview

Mission

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$30,433,727$24,758,237▼ $5,675,490
Land, Buildings, and Equipment, Net$15,567,490$15,184,180▼ $383,310
Cash and Non-Interest-Bearing Accounts$1,365,244$3,403,543▲ $2,038,299
Savings and Temporary Cash Investments$487,590$492,458▲ $4,868
Pledges and Grants Receivable$197,068$335,887▲ $138,819
Total Assets$58,726,077$52,973,169▼ $5,752,908
Other Assets Total$10,674,958$8,798,864▼ $1,876,094
Liabilities
Mortgage Notes Payable Secured by Investment Property$6,617,339$6,352,699▼ $264,640
Accounts Payable and Accrued Expenses$1,328,812$1,402,172▲ $73,360
Deferred Revenue$358,270$535,170▲ $176,900
Other Liabilities$331,857$319,639▼ $12,218
Total Liabilities$8,636,278$8,609,680▼ $26,598
Net Assets / Fund Balance
Net Assets With Donor Restrictions$32,525,585$28,538,737▼ $3,986,848
Net Assets Without Donor Restrictions$17,564,214$15,824,752▼ $1,739,462
Total Net Assets Fund Balance$50,089,799$44,363,489▼ $5,726,310
Total Liabilities and Net Assets / Fund Balance$58,726,077$52,973,169▼ $5,752,908

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$14,598,972$19,441,220$34,040,192
Equipment$579,008$5,985,462$6,564,470
Other Land Buildings$6,200-$6,200
Other Assets Org$6,795,362--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$32,573,242$466,550▼ $3,519,907$1,041,076$28,478,809
2020$27,903,056$967,598▲ $4,665,253$962,665$32,573,242
2019$27,625,782$513,861▲ $667,371$903,958$27,903,056
2018$26,760,155$412,055▲ $1,338,795$885,223$27,625,782
2017$25,567,417$394,470▲ $1,670,682$872,414$26,760,155
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Christopher LauricellaHead of SchoolFT$237,797$20,160$257,957
Ann WendthDirector of InstitutionalFT$143,739$7,150$150,889
M Scott MillikenAa Associate Head of SchooFT$127,492$18,495$145,987
David LesterHuman Resources DirectorFT$118,992$12,916$131,908
Pamela MacafferCFO (jan - Jun 2021)FT$76,170$11,541$87,711
Vivian BentonCFO (jul - Dec 2021)FT$67,783$4,611$72,394

Highest Paid Contractors

ContractorServicesLocationCompensation
Cdphp INCHealth CarePO BOX 5525, Binghamton, NY 13902-5525$1,015,537
Compass Group USAFood ServicePO BOX 417632, Boston, MA 02241-7632$798,732
Austin & CompanyInsurance20 CORPORATE WOODS BOULEVARD, Albany, NY 12211-2350$329,968
Janitronics Building ServicesCleaning Services1988 CENTRAL AVENUE, Albany, NY 12212-2729$288,342
Bonacquisti Brothers ConstructionConstruction20 CENTER STREET SUITE 1, Albany, NY 12211-2350$271,778
Revenue and Support

Revenue Composition

Contributions and Grants
$2,850,240
Program Service Revenue
$16,824,134
Investment Income
$1,385,533
Other Revenue
$124,909
All Other Contributions
$2,850,240
Change in Net Assets
$-502,251

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded14$131,597Fair Market Value (FMV) - Nasdaq
Total Noncash Contributions14$131,597-

Audited Revenue Reconciliation

Revenue per Audited Statements
$21,133,685
Revenue Not Reported on Financial Statements
$51,131
Revenue Not Reported on Form 990
$-9,292,561
Total Revenue per Audited Statements
$11,841,124
Total Revenue per Form 990
$21,184,816
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$11,592,031
Other Expenses$5,957,603
Grants and Similar Amounts Paid$4,137,433
Total Fundraising Expense$639,764
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$7,771,355$1,210,571$377,603$9,359,529
Grants to Domestic Individuals$4,137,433--$4,137,433
All Other Expenses$745,812$305,826$76,209$1,127,847
Depreciation Depletion$1,037,348--$1,037,348
Other Employee Benefits$679,120$112,032$33,603$824,755
Payroll Taxes$560,785$114,903$27,248$702,936
Current Officers, Directors, Trustees, and Key Employees-$418,062-$418,062
Occupancy$382,308--$382,308
Other Expenses$267,553$37,977$6,422$311,952
Pension Plan Contributions$244,772$30,482$11,495$286,749
Insurance$259,160--$259,160
Information Technology$59,967$158,096-$218,063
Interest$209,984--$209,984
Advertising$4,300$164,103-$168,403
Office Expenses$31,486$37,003$31,639$100,128
Travel$35,344$1,446$14,864$51,654
Fees for Service Investment Mgmnt Fees-$51,131-$51,131
Total Functional Expenses$17,839,094$3,208,209$639,764$21,687,067

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$21,687,067
Total Expenses per Audited Statements$17,567,434
Expenses per Audited Statements$17,498,503
Expenses Not Reported on Financial Statements$4,188,564
Other Expense Adjustments$4,137,433
Expenses Not Reported on Form 990$68,931
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$193,840
Fundraising Direct Expenses$68,931
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Spring Gathering$105,994$105,994$4,374$101,620
Legacy of Dreams$65,824$65,824$2,444$63,380
Total Events$193,840$193,840$68,931$124,909
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
-James Sidford, Board Member, Is a Principal With Austin & CompanyInsurance Broker Used by the Academies.No$329,968
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Postretirement Benefits$309,903
Liability Under Charitable Remainder Trust$9,736
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
No
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

As part of the annual audit, our independent certified public accounting firm prepares our form 990 and related supporting schedules from our internal records. We designate an individual(s) with suitable skill, knowledge, or experience to oversee these services and have made all management decisions and performed all management functions. Form 990 is made available to the board before filing with the irs. We have reviewed, approved, and accepted responsibility for form 990 and the related supporting schedules and believe they are adequately supported by the books and records of the academies.

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

On an annual basis the board of directors reviews the conflict of interest policies to determine if any relationships should be of concern to the school

Form 990, Part VI, Section B, Line 15A

The school uses compensation surveys that are approved by the board of trustees and documented in the board meeting minutes.

Form 990, Part VI, Section C, Line 19

Governing documents, financial statements and form 990 are made available by request and form 990 is also available through guidestar.

FORM 990, PART VI, SECTION B, LINE 11B:

As part of the annual audit, our independent certified public accounting firm prepares our form 990 and related supporting schedules from our internal records. We designate an individual(s) with suitable skill, knowledge, or experience to oversee these services and have made all management decisions and performed all management functions. Form 990 is made available to the board before filing with the irs. We have reviewed, approved, and accepted responsibility for form 990 and the related supporting schedules and believe they are adequately supported by the books and records of the academies.

FORM 990, PART VI, SECTION B, LINE 12C:

On an annual basis the board of directors reviews the conflict of interest policies to determine if any relationships should be of concern to the school.

Filing and Contact Details

Filer

Filer Name
The Albany Academies Inc
EIN
14-1338579
Phone
5184292460
Address
140 ACADEMY ROAD, ALBANY, NY 12208

Signing Officer

Name
Eric Lewis
Title
Treasurer
Phone
5183719582
Signed
2023-04-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Eric Lewis
Formed
1813
Legal Domicile
Ny
Voting Board Members
22
Independent Board Members
22
Employees
298
Volunteers
250

Preparer

Firm
Bonadio & Co Llp
Address
6 WEMBLEY CT, ALBANY, NY 12205
Preparer
Kevin Testo
Phone
5184644080
Supplemental Narrative

Additional Explanations

FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION MISSION:

1. To operate and maintain an early childhood co-education program for children three and four years of age. 2. To operate and maintain an early childhood education program for girls four and five years of age, a kindergarten for five-year old girls, a grade one through four primary school for girls and a grade five through 8 middle school for girls and, when deemed fitting, co-educational courses and programs. 3. To operate and maintain an early childhood education program for boys four and five years of age, a kindergarten for five-year old boys, a grade one through four primary school for boys and a grade five through 8 middle school for boys and, when deemed fitting, co-educational courses and programs. 4. To operate and maintain a grade nine through twelve secondary school with both single-gender and co-educational programs.

FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION:

The albany academies is a preschool-grade 12 independent college-prepatory school committed to developing the potential of the whole individual by building a community that fosters scholarship, leadership, character, service and creativity. Our core values include responsibility, self-discipline, compassion, ingenuity, respect, service, integrity and perserverance.

FORM 990, PART XI, LINE 9:

Change in value of charitable remainder trust -338,469. Change in value of perpetual trust -1,473,727.

FORM 990, PART XII, LINE 2C:

The organization has an audit committee that reviews the audited financial statements as well as approves the selection of the independent auditor. This process has not changed from the prior year.

Financial Statement Notes

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Change in value of charitable remainder trust -338,469. Change in value of perpetual trust -1,473,727. Financial aid -4,137,433. Special event expense 68,931.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Special event expense 68,931.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

FINANCIAL AID 4,137,433.

Raw XML AppendixShowing 400 of 800 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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