Civic Intelligence

Browne Academy

990 • Fiscal year 2021 • EIN 23-2261841

Sep 01, 2020 to Aug 31, 2021 • Filed on Jun 27, 2022

Organization Profilewww.browneacademy.org

View Organization Page

5917 Telegraph RoadAlexandria, VA 22310

(703) 960-3000

Siviq Scores

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

Liabilities / Assets

89th percentile

0.83x

Higher debt load relative to assets than 89% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

81st percentile

1.04x

Higher debt load relative to revenue than 81% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

25th percentile

1.4%

Higher net margin than 25% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

84th percentile

$336,563

Higher top officer pay than 84% of similar nonprofits.

Top officer pay equals 4.0% of source-year revenue.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

55th percentile

12%

Faster asset growth than 55% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

58th percentile

18%

Faster revenue growth than 58% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets89th percentile

Assets

Up

$10,717,747

Up $1,150,410 (+12%) from 2020

Net Assets

Up

$1,871,994

Up $989,602 (+112%) from 2020

Liabilities

Up

$8,845,753

Up $160,808 (+1.9%) from 2020

Revenue And Expenses
Liabilities / Revenue81st percentileNet Margin25th percentile

Revenue

Up

$8,503,997

Up $1,288,926 (+18%) from 2020

Expenses

Up

$8,388,885

Up $47,832 (+0.6%) from 2020

Net Income

Up

$115,112

Up $1,241,094 (+110%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth55th percentile

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

$15M$10M$5.0M$0Assets 2010: $13,345,463Liabilities 2010: $10,506,550Net Assets 2010: $2,838,9132010Assets 2011: $13,943,603Liabilities 2011: $11,319,544Net Assets 2011: $2,624,0592011Assets 2012: $13,593,220Liabilities 2012: $11,094,008Net Assets 2012: $2,499,2122012Assets 2013: $12,995,489Liabilities 2013: $10,022,086Net Assets 2013: $2,973,4032013Assets 2014: $12,500,606Liabilities 2014: $9,717,391Net Assets 2014: $2,783,2152014Assets 2015: $11,864,920Liabilities 2015: $9,239,249Net Assets 2015: $2,625,6712015Assets 2016: $11,725,196Liabilities 2016: $9,261,190Net Assets 2016: $2,464,0062016Assets 2017: $11,614,896Liabilities 2017: $8,939,044Net Assets 2017: $2,675,8522017Assets 2018: $10,884,225Liabilities 2018: $8,164,920Net Assets 2018: $2,719,3052018Assets 2019: $10,069,073Liabilities 2019: $8,113,642Net Assets 2019: $1,955,4312019Assets 2020: $9,567,337Liabilities 2020: $8,684,945Net Assets 2020: $882,3922020Assets 2021: $10,717,747Liabilities 2021: $8,845,753Net Assets 2021: $1,871,9942021Assets 2022: $10,406,201Liabilities 2022: $7,910,188Net Assets 2022: $2,496,0132022Assets 2023: $11,183,860Liabilities 2023: $7,797,927Net Assets 2023: $3,385,9332023Assets 2024: $10,918,326Liabilities 2024: $7,987,493Net Assets 2024: $2,930,8332024

Highlighted filing

2021

Assets$10,717,747
Liabilities$8,845,753
Net Assets$1,871,994
Open 2021 Filing

Operations Trend

Revenue Growth58th percentile

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

$10M$5.0M$0-$5.0MExpenses 2010: $7,895,4362010Revenue 2011: $8,318,389Expenses 2011: $8,072,233Net Income 2011: $246,1562011Revenue 2012: $8,501,437Expenses 2012: $8,351,268Net Income 2012: $150,1692012Revenue 2013: $8,421,451Expenses 2013: $8,374,914Net Income 2013: $46,5372013Revenue 2014: $7,657,587Expenses 2014: $7,784,307Net Income 2014: -$126,7202014Revenue 2015: $7,161,090Expenses 2015: $7,305,255Net Income 2015: -$144,1652015Revenue 2016: $7,405,630Expenses 2016: $7,551,342Net Income 2016: -$145,7122016Revenue 2017: $7,737,381Expenses 2017: $7,691,311Net Income 2017: $46,0702017Revenue 2018: $7,519,188Expenses 2018: $7,664,504Net Income 2018: -$145,3162018Revenue 2019: $7,223,241Expenses 2019: $7,941,268Net Income 2019: -$718,0272019Revenue 2020: $7,215,071Expenses 2020: $8,341,053Net Income 2020: -$1,125,9822020Revenue 2021: $8,503,997Expenses 2021: $8,388,885Net Income 2021: $115,1122021Revenue 2022: $9,824,282Expenses 2022: $9,196,298Net Income 2022: $627,9842022Revenue 2023: $9,807,268Expenses 2023: $8,927,475Net Income 2023: $879,7932023Revenue 2024: $7,901,152Expenses 2024: $8,372,051Net Income 2024: -$470,8992024

Highlighted filing

2021

Revenue$8,503,997
Expenses$8,388,885
Net Income$115,112
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2020 to Aug 31, 2021
Signed
Jun 27, 2022
Return Version
2020v4.1
Gross Receipts
$8,539,387
Mission and Program Overview

Mission

The Academy is a pre-kindergarten through grade eight independent school preparing girls and boys in the metropolitan Washington, DC area for competitive secondary schools. The Academy is a diverse independent day school committed to developing the whole child.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$7,844,674$7,684,969▼ $159,705
Cash and Non-Interest-Bearing Accounts$892,343$2,235,753▲ $1,343,410
Savings and Temporary Cash Investments$556,052$624,777▲ $68,725
Prepaid Expenses and Deferred Charges$53,947$87,189▲ $33,242
Accounts Receivable$205,321$80,059▼ $125,262
Total Assets$9,567,337$10,717,747▲ $1,150,410
Other Assets Total$15,000$5,000▼ $10,000
Liabilities
Tax Exempt Bond Liabilities$6,167,180$6,177,692▲ $10,512
Deferred Revenue$1,348,262$1,509,702▲ $161,440
Unsecured Notes Loans Payable$834,957$787,154▼ $47,803
Accounts Payable and Accrued Expenses$205,907$305,435▲ $99,528
Other Liabilities$128,639$65,770▼ $62,869
Total Liabilities$8,684,945$8,845,753▲ $160,808
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$753,868$1,699,940▲ $946,072
Net Assets With Donor Restrictions$128,524$172,054▲ $43,530
Total Net Assets Fund Balance$882,392$1,871,994▲ $989,602
Total Liabilities and Net Assets / Fund Balance$9,567,337$10,717,747▲ $1,150,410

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,286,227$6,247,003$12,533,230
Equipment$530,207$1,380,149$1,910,356
Land$868,535-$868,535
Other Land Buildings$0$35,577$35,577

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$9,474$65,143▼ $195$0$74,422
2019$9,646-▼ $172$0$9,474
2018$9,807$0▼ $161$0$9,646
2017$0$10,110▼ $303$0$9,807
Compensation and Service Providers
Top Officer Pay84th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Peggy OteyPresident/Head of SchoolFT$293,212$43,351$336,563
Peggy Otey--$266,587$69,976$336,563
Ann Feeley-LeetzTreasurer/Business ManagerFT$157,051$22,366$179,417
Ann Feeley-Leetz--$141,051$38,366$179,417
Mike SassoDirector of Advancement & Institutional GrowthFT$99,111$5,451$104,562

Board Members and Trustees

NameTitle
Bryan BonnerChair
Joan DeBoerChair/Trustee
Jacquie BloomHead Support/Trustee
Cecelia PrewettTrustee
Charles PlattTrustee
Christopher LettieriTrustee
Dawn BigginsTrustee
Earl BrownTrustee
Jeffrey BrooksTrustee
Jeffrey ShortTrustee
Julia EbronTrustee
Michael LowsenTrustee
Patricia M St GeorgeTrustee
Valerie HardyTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$538,993
Program Service Revenue
$7,984,852
Investment Income
$4,699
Other Revenue
$-24,547
All Other Contributions
$206,882
Change in Net Assets
$115,112

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$25,626Fair Market Value (FMV)
Total Noncash Contributions3$25,626-

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,539,195
Revenue Not Reported on Financial Statements
$-35,198
Revenue Not Reported on Form 990
$-1,743,194
Other Revenue Adjustments
$-35,370
Total Revenue per Audited Statements
$6,796,001
Total Revenue per Form 990
$8,503,997
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,720,070
Other Expenses$1,925,621
Grants and Similar Amounts Paid$1,743,194
Total Fundraising Expense$135,119
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,038,991$165,540$88,362$3,292,893
Grants to Domestic Individuals$1,743,194--$1,743,194
Current Officers, Directors, Trustees, and Key Employees$165,070$374,949$0$540,019
Other Employee Benefits$378,618$106,206$8,818$493,642
Depreciation Depletion$392,540$39,254$4,362$436,156
Payroll Taxes$225,823$31,876$5,662$263,361
Interest$182,249$18,225$2,025$202,499
Information Technology$156,393$15,639$1,738$173,770
Office Expenses$94,605$55,691$1,072$151,368
Pension Plan Contributions$116,092$9,368$4,695$130,155
Occupancy$80,253$8,025$892$89,170
Other Expenses$64,711$6,471$719$71,901
Insurance$56,854$5,685$632$63,171
Advertising$53,802$0$0$53,802
All Other Expenses$20,604$0$13,192$33,796
Fees for Services Other$0$23,934$0$23,934
Fees for Services Legal$0$8,702$0$8,702
Fees for Service Investment Mgmnt Fees$0$175$0$175
Total Functional Expenses$7,357,475$896,291$135,119$8,388,885

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$8,388,885
Total Expenses per Audited Statements$6,680,889
Expenses per Audited Statements$6,645,519
Expenses Not Reported on Financial Statements$1,743,366
Other Expense Adjustments$1,743,194
Expenses Not Reported on Form 990$35,370
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$35,370
Fundraising Gross Income$10,823
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Dues$29,865$0-$0
Auction$200,232$10,576$21,010$-10,434
Total Events$230,097$10,576$35,370$-24,794
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
Elle HarrisDaughter of TrusteeFinancial aidNo$18,500
Ethan HarrisSon of TrusteeFinancial aidNo$11,475
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Capital lease obligations$65,770
Interest rate swap liability$0
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
Yes
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
Filing and Contact Details

Filer

Filer Name
Bsi Inc
EIN
23-2261841
Phone
7039603000
Address
5917 Telegraph Road, Alexandria, VA 22310
Doing Business As
Browne Academy

Signing Officer

Name
Ann Feeley-Leetz
Title
Treasurer/Business Manager
Phone
7039603000
Signed
2022-06-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Peggy Otey
Formed
1984
Legal Domicile
Va
Voting Board Members
14
Independent Board Members
14
Employees
95
Volunteers
40

Preparer

Firm
Hozik & Company PLC
Address
374 Maple Ave E Ste 305, Vienna, VA 22180
Preparer
Corrie Scott
Phone
7032727109
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“The Form 990 was reviewed by the Finance and Audit committees and upon completion of the review it was sent to the remaining members of the Board for review and comment prior to its submission.”

Pt VI, Line 12C

“The Board of Trustees are required to disclose any conflicts of interest and these are reviewed on an annual basis.”

Pt VI, Line 15A

“The Head Support Committee of the Board of Trustees”

Pt VI, Line 15B

“obtains comparative data on head salaries from recognized independent sources as related to the local and national markets for like institutions. This data is reviewed and any changes in compensation are determined on the basis of this review.”

Pt VI, Line 19

“The Academy's governing documents, conflict of public interest policy and financial statements are available public upon request.”

Financial Statement Notes

Pt XI, Line 2D

“Reclass financial aid of $1,743,194.”

Pt XI, Line 4B

“Reclass special event expenses.”

Pt XII, Line 2D

“Reclass special event expenses.”

Pt XII, Line 4B

“Reclass financial aid $1,743,194.”

Pt V, Line 4

“The Endowment Funds purpose is to further the mission of the Academy.”

Raw XML AppendixShowing 400 of 690 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/Desc0An unwavering commitment to academic excellence forms the cornerstone of the Academy's educational philosophy. The School achieves this commitment by fostering a passion for lifelong learning and by channeling this passion into a rigorous educational program. A comprehensive and challenging curriculum provides the essential foundation for each student's (226 students) future academic success, physical growth and emotional development. This curriculum is designed to promote student excellence within and across each of the following disciplines: English (language arts and reading), mathematics, science, world languages, social studies and history, fine arts, technology, and physical education. The Academy offers a wide variety of extracurricular activities ranging from sports (soccer, basketball, and softball) to the fine arts (drama, art, and music lessons). Each trimester the Academy offers new extracurricular opportunities through the extended day program which offers services from 7:00 to 8:00 AM and 3:15 to 6:00 PM.
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IRS990/Form990PartVIISectionAGrp/PersonNm6Patricia M St George
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IRS990/Form990PartVIISectionAGrp/PersonNm8Charles Platt
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IRS990/Form990PartVIISectionAGrp/PersonNm10Cecelia Prewett
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IRS990/Form990PartVIISectionAGrp/PersonNm13Dawn Biggins
IRS990/Form990PartVIISectionAGrp/PersonNm14Jeffrey Short
IRS990/Form990PartVIISectionAGrp/PersonNm15Valerie Hardy
IRS990/Form990PartVIISectionAGrp/PersonNm16Michael Lowsen
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IRS990/Form990PartVIISectionAGrp/TitleTxt0President/Head of School
IRS990/Form990PartVIISectionAGrp/TitleTxt1Treasurer/Business Manager
IRS990/Form990PartVIISectionAGrp/TitleTxt2Director of Advancement & Institutional Growth
IRS990/Form990PartVIISectionAGrp/TitleTxt3Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt4Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt5Chair/Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt6Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt7Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt8Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt9Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt10Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt11Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt12Head Support/Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt13Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt14Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt15Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt16Trustee
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IRS990/MissionDesc0The Academy is a pre-kindergarten through grade eight independent school preparing girls and boys in the metropolitan Washington, DC area for competitive secondary schools. The Academy is a diverse independent day school committed to developing the whole child.
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IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt08818
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0106206
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0378618
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0493642
IRS990/OtherExpensesGrp/Desc0Summer camp
IRS990/OtherExpensesGrp/Desc1Repairs and maintenance
IRS990/OtherExpensesGrp/Desc2Instruction/student activities
IRS990/OtherExpensesGrp/Desc3Bad debt
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IRS990/OtherExpensesGrp/FundraisingAmt20
IRS990/OtherExpensesGrp/FundraisingAmt3719
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt20
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IRS990/OtherExpensesGrp/ProgramServicesAmt1265514
IRS990/OtherExpensesGrp/ProgramServicesAmt2245879
IRS990/OtherExpensesGrp/ProgramServicesAmt364711
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IRS990/OtherExpensesGrp/TotalAmt1295015
IRS990/OtherExpensesGrp/TotalAmt2245879
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IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt031876
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IRS990/PensionPlanContributionsGrp/FundraisingAmt04695
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt09368
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0116092
IRS990/PensionPlanContributionsGrp/TotalAmt0130155
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt087189
IRS990/PrincipalOfficerNm0Peggy Otey
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IRS990/ProgramServiceRevenueGrp/BusinessCd0611110
IRS990/ProgramServiceRevenueGrp/BusinessCd1611110
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IRS990/ProgramServiceRevenueGrp/Desc0Tuition and fees
IRS990/ProgramServiceRevenueGrp/Desc1Camp
IRS990/ProgramServiceRevenueGrp/Desc2Registration fees and other income
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1773741
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt213643
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IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt20
IRS990/ProgSrvcAccomActy2Grp/Desc0The Academy also offers a summer camp for eight weeks throughout the summer that operates on the entire 11 acre campus (approximately 296 students). Camp attendees are offered various educational activities that are dedicated to providing a memorable experience for every camper in a safe, fun-filled and caring environment that fosters friendship and mutual respect for one another. Camps are also offered over the winter holiday break and spring break.
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IRS990/PYTotalRevenueAmt07215071
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IRS990/RevenueAmt07211111

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$10,717,747
Liabilities
$8,845,753
Net assets
$1,871,994
Revenue
$8,503,997
Expenses
$8,388,885
Net income
$115,112
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.9$7.99$2.93$7.90$8.37$0.47
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.2$7.80$3.39$9.81$8.93$0.88
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.4$7.91$2.50$9.82$9.20$0.63
2021Detailed filing. Detailed filing data is available for this year.$10.7$8.85$1.87$8.50$8.39$0.12
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.57$8.68$0.88$7.22$8.34$1.13
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.1$8.11$1.96$7.22$7.94$0.72
2018Summary only. Only limited summary data is available for this year.$10.9$8.16$2.72$7.52$7.66$0.15
2017Summary only. Only limited summary data is available for this year.$11.6$8.94$2.68$7.74$7.69$0.05
2016Summary only. Only limited summary data is available for this year.$11.7$9.26$2.46$7.41$7.55$0.15
2015Summary only. Only limited summary data is available for this year.$11.9$9.24$2.63$7.16$7.31$0.14
2014Summary only. Only limited summary data is available for this year.$12.5$9.72$2.78$7.66$7.78$0.13
2013Summary only. Only limited summary data is available for this year.$13.0$10.0$2.97$8.42$8.37$0.05
2012Summary only. Only limited summary data is available for this year.$13.6$11.1$2.50$8.50$8.35$0.15
2011Summary only. Only limited summary data is available for this year.$13.9$11.3$2.62$8.32$8.07$0.25
2010XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.3$10.5$2.84$7.90
Peer Organizations

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