Civic Intelligence

Athens Academy Inc.

990 • Fiscal year 2016 • EIN 58-6055242

Aug 01, 2015 to Jul 31, 2016 • Filed on Jan 24, 2017

PO Box 6548Athens, GA 30604

(706) 549-9225

Siviq Scores

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

Liabilities / Assets

62nd percentile

0.40x

Higher debt load relative to assets than 62% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Liabilities / Revenue

76th percentile

1.01x

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

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Net Margin

75th percentile

13%

Higher net margin than 75% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Top Officer Pay

36th percentile

$195,347

Higher top officer pay than 36% of similar nonprofits.

Top officer pay equals 1.0% of source-year revenue.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Asset Growth

77th percentile

12%

Faster asset growth than 77% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Revenue Growth

65th percentile

7.9%

Faster revenue growth than 65% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Assets

Up

$48,449,074

Up $5,074,933 (+12%) from 2015

Net Assets

Up

$29,268,863

Up $2,391,271 (+8.9%) from 2015

Liabilities

Up

$19,180,211

Up $2,683,662 (+16%) from 2015

Revenue

Up

$18,942,411

Up $1,381,016 (+7.9%) from 2015

Expenses

Up

$16,551,140

Up $698,338 (+4.4%) from 2015

Net Income

Up

$2,391,271

Up $682,678 (+40%) from 2015

Historical Trend

Balance Sheet Trend

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

$80M$60M$40M$20M$0Assets 2010: $31,329,648Liabilities 2010: $13,253,221Net Assets 2010: $18,076,4272010Assets 2011: $35,475,153Liabilities 2011: $15,492,967Net Assets 2011: $19,982,1862011Assets 2012: $38,148,953Liabilities 2012: $16,642,590Net Assets 2012: $21,506,3632012Assets 2013: $39,715,928Liabilities 2013: $16,715,407Net Assets 2013: $23,000,5212013Assets 2014: $41,729,739Liabilities 2014: $16,560,740Net Assets 2014: $25,168,9992014Assets 2015: $43,374,141Liabilities 2015: $16,496,549Net Assets 2015: $26,877,5922015Assets 2016: $48,449,074Liabilities 2016: $19,180,211Net Assets 2016: $29,268,8632016Assets 2017: $52,458,376Liabilities 2017: $18,466,934Net Assets 2017: $33,991,4422017Assets 2018: $52,575,032Liabilities 2018: $18,507,064Net Assets 2018: $34,067,9682018Assets 2019: $54,650,273Liabilities 2019: $18,038,349Net Assets 2019: $36,611,9242019Assets 2020: $60,003,014Liabilities 2020: $18,316,786Net Assets 2020: $41,686,2282020Assets 2021: $63,580,270Liabilities 2021: $19,421,875Net Assets 2021: $44,158,3952021Assets 2022: $62,573,809Liabilities 2022: $19,135,760Net Assets 2022: $43,438,0492022Assets 2023: $65,718,841Liabilities 2023: $21,334,452Net Assets 2023: $44,384,3892023Assets 2024: $72,039,320Liabilities 2024: $21,886,354Net Assets 2024: $50,152,9662024

Highlighted filing

2016

Assets$48,449,074
Liabilities$19,180,211
Net Assets$29,268,863

Operations Trend

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

$30M$20M$10M$0-$10MExpenses 2010: $13,195,5942010Expenses 2011: $13,911,7752011Expenses 2012: $14,670,3802012Expenses 2013: $14,896,8372013Revenue 2014: $17,678,276Expenses 2014: $15,509,798Net Income 2014: $2,168,4782014Revenue 2015: $17,561,395Expenses 2015: $15,852,802Net Income 2015: $1,708,5932015Revenue 2016: $18,942,411Expenses 2016: $16,551,140Net Income 2016: $2,391,2712016Revenue 2017: $21,923,548Expenses 2017: $17,200,969Net Income 2017: $4,722,5792017Revenue 2018: $19,803,190Expenses 2018: $18,342,353Net Income 2018: $1,460,8372018Revenue 2019: $21,460,949Expenses 2019: $18,786,068Net Income 2019: $2,674,8812019Revenue 2020: $23,777,729Expenses 2020: $18,703,427Net Income 2020: $5,074,3022020Revenue 2021: $21,935,037Expenses 2021: $19,462,863Net Income 2021: $2,472,1742021Revenue 2022: $19,563,519Expenses 2022: $20,283,860Net Income 2022: -$720,3412022Revenue 2023: $22,604,482Expenses 2023: $21,658,134Net Income 2023: $946,3482023Revenue 2024: $24,528,891Expenses 2024: $22,190,381Net Income 2024: $2,338,5102024

Highlighted filing

2016

Revenue$18,942,411
Expenses$16,551,140
Net Income$2,391,271
Jump To
Filing Snapshot
Filing Period
Aug 1, 2015 to Jul 31, 2016
Signed
Jan 24, 2017
Return Version
2015v3.0
Gross Receipts
$19,438,556
Mission and Program Overview

Mission

Athens Academy (the School) seeks excellence with honor

Athens Academy (the School) seeks excellence with honor in all its pursuits. Athens Academy is a coeducational, independent, college preparatory day school that offers a traditional liberal arts curriculum and innovative approaches to teaching and learning. The School seeks students from diverse social, economic, religious, and racial backgrounds who can benefit from a challenging academic program.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$26,460,153$26,985,030▲ $524,877
Investments in Publicly Traded Securities$7,881,767$8,360,471▲ $478,704
Cash and Non-Interest-Bearing Accounts$5,464,723$7,864,743▲ $2,400,020
Savings and Temporary Cash Investments$1,111,709$2,939,652▲ $1,827,943
Pledges and Grants Receivable$1,776,302$1,209,520▼ $566,782
Accounts Receivable$385,441$825,451▲ $440,010
Inventories for Sale or Use$70,265$126,723▲ $56,458
Prepaid Expenses and Deferred Charges$127,120$104,169▼ $22,951
Other Notes and Loans Receivable, Net$61,894$2,894▼ $59,000
Total Assets$43,374,141$48,449,074▲ $5,074,933
Other Assets Total$34,767$30,421▼ $4,346
Liabilities
Deferred Revenue$8,214,306$8,506,284▲ $291,978
Tax Exempt Bond Liabilities$6,313,433$8,500,000▲ $2,186,567
Accounts Payable and Accrued Expenses$1,399,091$1,657,603▲ $258,512
Mortgage Notes Payable Secured by Investment Property$515,903$462,508▼ $53,395
Unsecured Notes Loans Payable$53,816$53,816→ $0
Total Liabilities$16,496,549$19,180,211▲ $2,683,662
Net Assets / Fund Balance
Unrestricted Net Assets$19,359,083$21,177,642▲ $1,818,559
Temporarily Rstr Net Assets$4,024,370$4,569,872▲ $545,502
Permanently Rstr Net Assets$3,494,139$3,521,349▲ $27,210
Total Net Assets Fund Balance$26,877,592$29,268,863▲ $2,391,271
Total Liabilities and Net Assets / Fund Balance$43,374,141$48,449,074▲ $5,074,933

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$20,210,226$13,597,135$33,807,361
Equipment$981,246$6,521,170$7,502,416
Leasehold Improvements$3,625,507$1,273,927$4,899,434
Land$1,169,824-$1,169,824
Other Land Buildings$998,227-$998,227

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$7,217,335$333,219▲ $174,081-$7,691,383
2014$6,685,779$445,616▲ $268,535$150,000$7,217,335
2013$6,187,909-▲ $678,755$150,000$6,685,779
2012$5,056,548$633,681▲ $673,588$150,000$6,187,909
2011$4,787,275$108,440▲ $183,427-$5,056,548
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
John Thorsen--$195,347$64,400$221,747
John ThorsenHeadmasterFT$195,347-$195,347
J Robert ChambersFormer Headmaster-$38,000-$38,000
J Robert Chambers----$38,000

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Hogan Construction GroupConstruction5075 Avalon Ridge Pkwy, Norcross, GA 30071$350,900
Sunbelt AsphaltPaving Track1410 Sunbelt Way, Auburn, GA 30011$108,374
Revenue and Support

Revenue Composition

Contributions and Grants
$2,395,739
Program Service Revenue
$15,886,010
Investment Income
$183,209
Other Revenue
$477,453
All Other Contributions
$2,395,739
Change in Net Assets
$2,391,271

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 Traded1$548,243Fair Market Value (FMV) Trading Date
Total Noncash Contributions1$548,243-

Audited Revenue Reconciliation

Revenue per Audited Statements
$19,051,423
Revenue Not Reported on Financial Statements
$-109,012
Other Revenue Adjustments
$-142,264
Total Revenue per Audited Statements
$19,051,423
Total Revenue per Form 990
$18,942,411
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$10,383,569
Other Expenses$6,167,571
Total Fundraising Expense$325,175
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$6,360,527$1,416,089$149,200$7,925,816
All Other Expenses$2,460,588$969,071$136,481$3,566,140
Other Employee Benefits$1,058,281$317,762$24,753$1,400,796
Depreciation Depletion$1,378,441$4,346$0$1,382,787
Payroll Taxes$462,888$106,881$8,934$578,703
Occupancy$0$387,853$0$387,853
Pension Plan Contributions$196,669$60,888$5,447$263,004
Current Officers, Directors, Trustees, and Key Employees$0$215,250$0$215,250
Interest$0$207,440$0$207,440
Insurance$17,552$139,887$360$157,799
Information Technology$66,170$66,968$0$133,138
Fees for Services Accounting$0$58,891$0$58,891
Fees for Service Investment Mgmnt Fees$0$33,466$0$33,466
Other Expenses$0$29,870$0$29,870
Fees for Services Other$0$12,408$0$12,408
Office Expenses$11,880$0$0$11,880
Fees for Services Legal$0$10,123$0$10,123
Travel$0$8,330$0$8,330
Conferences and Meetings$0$6,276$0$6,276
Total Functional Expenses$12,174,166$4,051,799$325,175$16,551,140

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$16,660,152
Total Expenses per Audited Statements$16,660,152
Total Expenses per Form 990$16,551,140
Expenses Not Reported on Financial Statements$-109,012
Other Expense Adjustments$-142,264
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
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
AOconee Co Dev Auth-Private Place-no cusip2013-08-15$9,000,000Refunding & Add'l Expansion

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$9,000,000---

Bond Financing Compliance

Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
Yes
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 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
Filing and Contact Details

Filer

Filer Name
Athens Academy Inc
EIN
58-6055242
Phone
7065499225
Address
PO Box 6548, Athens, GA 30604

Signing Officer

Name
Alan M Weiler
Title
Director of Ops & Fin
Phone
7065499225
Signed
2017-01-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alan M Weiler
Formed
1966
Legal Domicile
Ga
Voting Board Members
24
Independent Board Members
24
Employees
318
Volunteers
650

Preparer

Firm
J Allen SeymourCPA PC
Address
1551 Jennings Mill Road 400 A, Watkinsville, GA 30677-7262
Preparer
J Allen Seymour CPA
Phone
7065498197
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

A draft of the Form 990 is presented to the executive and finance committees for review. Once both committees determine that the return is complete and accurate, Form 990 is made available to the Board of Trustees and is authorized for submission to the IRS and the State of Georgia.

Pt VI, Line 12C

Any conflict of interest that a boardmember, officer, trustee, or key employee may have must be disclosed. Boardmembers who have conflicts of interest are not allowed a vote in such matters. The School's written conflict of interest policy is part of its bylaws. Boardmembers, officers, trustees, and key employees are required to read the bylaws and sign a statement acknowledging that they have done so.

Pt VI, Line 15A

The School uses statistical data obtained from STATS Online, an online source of data from the National Association of Independent Schools, to review the appropriateness of compensation with other schools in the same region which are comparable in size and programs offered.

Pt VI, Line 15B

The School uses statistical data obtained from STATS Online, an online source of data from the National Association of Independent Schools, to review the appropriateness of compensation with other schools in the same region which are comparable in size and programs offered.

Pt VI, Line 19

The School's conflict of interest policy is incorporated as part of the faculty and staff handbook, which is available to the public via the School's website. All policies are presented each year at the beginning of the school year to the Board and all faculty and staff members. The financial statements and Form 990 are available for public inspection, upon request, in the business office during normal business hours.

Form 990EZ, Part II, Line 24

Accounts Receivable - Net

Form 990EZ, Part II, Line 24

Pledges Receivable - Net

Form 990EZ, Part II, Line 24

Receivables from Officers & Others

Form 990EZ, Part II, Line 24

Inventories

Form 990EZ, Part II, Line 24

Prepaids

Form 990EZ, Part II, Line 24

Investments

Form 990EZ, Part II, Line 24

Loan Cost(Net of Amortization)

Form 990EZ, Part II, Line 26

Accounts Payable & Accrued Expenses

Form 990EZ, Part II, Line 26

Deferred Revenue

Form 990EZ, Part II, Line 26

Bonds, Mortgages & Other Notes

Form 990, Part IX, Line 24E

Capital Campaign 28879. 0. 0. 28879.

Form 990, Part IX, Line 24E

Curriculum & Instruction 37609. 37609. 0. 0.

Form 990, Part IX, Line 24E

Day Camp 130029. 130029. 0. 0.

Form 990, Part IX, Line 24E

Division Administration 62662. 45945. 9836. 6881.

Form 990, Part IX, Line 24E

Equipment Rental & Maintenance 555139. 38005. 517134. 0.

Form 990, Part IX, Line 24E

Events and Competitions 28423. 28423. 0. 0.

Form 990, Part IX, Line 24E

Faculty Recruiting 40488. 0. 40488. 0.

Form 990, Part IX, Line 24E

Field Trips 189368. 189368. 0. 0.

Form 990, Part IX, Line 24E

Finanical Aid 1186316. 1186316. 0. 0.

Form 990, Part IX, Line 24E

First Aid 5889. 5889. 0. 0.

Form 990, Part IX, Line 24E

Governing Board 24750. 0. 24750. 0.

Form 990, Part IX, Line 24E

Guidance 9260. 9260. 0. 0.

Form 990, Part IX, Line 24E

Honors and Awards 13229. 13229. 0. 0.

Form 990, Part IX, Line 24E

Media & Technology 36540. 36540. 0. 0.

Form 990, Part IX, Line 24E

Misc Taxes 5479. 0. 5479. 0.

Form 990, Part IX, Line 24E

Miscellaneous Expense 22159. 8592. 13531. 36.

Form 990, Part IX, Line 24E

Postage & Shipping 11872. 0. 11872. 0.

Form 990, Part IX, Line 24E

Printing & Publications 125808. 42694. 1296. 81818.

Form 990, Part IX, Line 24E

Professional Development 96974. 42914. 54060. 0.

Form 990, Part IX, Line 24E

Regulatory Fees 6961. 0. 6961. 0.

Form 990, Part IX, Line 24E

Relations & Gifts 20945. 0. 9635. 11310.

Form 990, Part IX, Line 24E

Software Support 4843. 4843. 0. 0.

Form 990, Part IX, Line 24E

Sports & Athletics 143052. 143052. 0. 0.

Form 990, Part IX, Line 24E

Staff Development 0. 0. 0. 0.

Form 990, Part IX, Line 24E

Subscriptions & Dues 29805. 614. 29191. 0.

Form 990, Part IX, Line 24E

Supplies 626653. 440060. 179036. 7557.

Form 990, Part IX, Line 24E

Telephone 65802. 0. 65802. 0.

Form 990, Part IX, Line 24E

Testing 14082. 14082. 0. 0.

Form 990, Part IX, Line 24E

Textbooks 43124. 43124. 0. 0.

Financial Statement Notes

Pt V, Line 4

The permanently restricted portion of the endowment exists in perpetuity and is never to be invaded. The investment income is expended for programs that include, but are not limited to, supporting the faculty, enhancing student financial aid, and strengthening current programs.

Pt XI, Line 4B

Cost of Goods Sold is included as part of Auxiliary Services as an expense on the Financial Statments. For Form 990, this amount is reported on Part VIII-10a

Pt XII, Line 4B

Cost of Goods Sold is included as part of Auxiliary Services as an expense on the Financial Statments. For Form 990, this amount is reported on Part VIII-10a

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IRS990/Desc0PROVIDING A QUALITY EDUCATION TO THE STUDENTS ATTENDING THE ACADEMY.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$72.0$21.9$50.2$24.5$22.2$2.34
2023Detailed filing. Detailed filing data is available for this year.$65.7$21.3$44.4$22.6$21.7$0.95
2022Detailed filing. Detailed filing data is available for this year.$62.6$19.1$43.4$19.6$20.3$0.72
2021Detailed filing. Detailed filing data is available for this year.$63.6$19.4$44.2$21.9$19.5$2.47
2020Detailed filing. Detailed filing data is available for this year.$60.0$18.3$41.7$23.8$18.7$5.07
2019Detailed filing. Detailed filing data is available for this year.$54.7$18.0$36.6$21.5$18.8$2.67
2018Detailed filing. Detailed filing data is available for this year.$52.6$18.5$34.1$19.8$18.3$1.46
2017Detailed filing. Detailed filing data is available for this year.$52.5$18.5$34.0$21.9$17.2$4.72
2016Detailed filing. Detailed filing data is available for this year.$48.4$19.2$29.3$18.9$16.6$2.39
2015Detailed filing. Detailed filing data is available for this year.$43.4$16.5$26.9$17.6$15.9$1.71
2014Detailed filing. Detailed filing data is available for this year.$41.7$16.6$25.2$17.7$15.5$2.17
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$39.7$16.7$23.0$14.9
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$38.1$16.6$21.5$14.7
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$35.5$15.5$20.0$13.9
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$31.3$13.3$18.1$13.2