George Stevens Academy FY2023 filing

Tax-deductible

Blue Hill, ME501(c)(3)Since 1943EducationEIN 01-0247002Revenue $5.1M in FY2023

On file with the IRSgeorgestevensacademy.org23 Union St, 04614-5908 · Blue Hill, METax-exempt since Apr 1952School — 170(b)(1)(A)(ii)

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George Stevens Academy is an independent high school located on the coast of Maine.

501(c)(3) charity; gifts are tax-deductible.
75¢ of each $1 spent went to programs.
$210K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $195K a year · 3% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
75%
of spending
Looks good: 75% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$210K
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 2.4 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $3K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.8M
13% of total assets
Looks good: liabilities are 13% of assets; 50% or less.
Pt X · Ln 26
Independent board members
14
of 14 voting members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5.1M
-30% vs prior year
Spent
$6.4M
To programs
75%
Net assets
$12.2M
By yearFY2020–FY2025
Revenue
$5.1M
FY2023▼ -30%
Tap a bar for its year
Revenue by fiscal year
FY2020$5.9M
FY2021$6.2M
FY2022$7.3M
FY2023$5.1M
FY2024$5.8M
FY2025$5.9M
Expenses
$6.4M
FY2023▲ +7%
Tap a bar for its year
Expenses by fiscal year
FY2020$5.8M
FY2021$6.0M
FY2022$6.0M
FY2023$6.4M
FY2024$5.5M
FY2025$5.3M
Net assets
$12.2M
FY2023▼ -1%
Tap a bar for its year
Net assets by fiscal year
FY2020$13.3M
FY2021$14.7M
FY2022$12.4M
FY2023$12.2M
FY2024$13.3M
FY2025$14.2M

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 1952.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

75 cents of each dollar spent went to programs.

Program services 75% · $4.8M Management & general 21% · $1.3M Fundraising 4% · $242K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

20 people listed on the 990; $210K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Head of School
$154,542Pt VII · Sec A
Director of Finance
$55,698Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Past Trustee
$0Pt VII · Sec A

Dan Welch’s $62K as Head of School is at the 11th percentile of top reported officer pay among 3394 $1–10M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Timothy Seeley——$154,542$142,824$141,138$138,960
Timothy Seely—$73,658————
Shelley Borror Jackson—$71,154————
Dan Welch$62,500—————
Fred Heilner————$61,710$59,734
Shelley Jackson$56,491—————
Brock Muir—$56,281$55,698———
Seth Brown———$46,981——

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Educates students at an independent coastal Maine high school.

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Provided by the organization

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2 programs · $4.8M · in their own filed words · FY2022
01

Provide secondary education to approximately 282 students.

$4.7Mprogram expense
02

Provide financial assistance to graduating students who are furthering their education. Scholarships are granted on the basis of merit and type of continuing education.

$166Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 2 funders$3K
Grants paid · 6 grants · $1.0M · 2019–2024
Unitemized GrantFY2024$232,740
Unitemized GrantFY2023$174,573
Unitemized GrantFY2022$166,342
Unitemized GrantFY2021$177,579
Unitemized GrantFY2020$125,350
Unitemized GrantFY2019$131,375

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$5.1M
Ln 12
Fees for servicesLn 2g$4.7M
Gifts and grantsLn 1h$948K
Investment incomeLn 3$133K
Money outPt IX
$6.4M
Ln 25
Programscol B$4.8M
Managementcol C$1.3M
Fundraisingcol D$242K
Owns and owesPt X
$12.2M
net assets · Ln 32
Cash and savingsLn 1–2$1.3M
Total assetsLn 16$14.0M
LiabilitiesLn 26$1.8M
PeoplePt VI, VII
20
listed · VII A
PaidVII A2
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$948K
Government grantsLn 1e$208K
Noncash giftsLn 1g$117K
Fundraising eventsLn 1c$3K
Fees for servicesLn 2g$4.7M
Investment incomeLn 3$133K
Gains on assetsLn 7−$718K
Total revenueLn 12$5.1M
Assets in detailPt X, end of year
CashLn 1$841K
SavingsLn 2$430K
Cash and savings togetherLn 1–2$1.3M
InvestmentsLn 11–13$6.5M
Land, buildings, equipmentLn 10c$6.0M
Total assetsLn 16$14.0M
LiabilitiesLn 26$1.8M
Net assetsLn 32$12.2M
OperationsPt I, VI
EmployeesI 5106
VolunteersI 6150
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$1.2M$1.3M
InvestmentsLn 11–13$6.6M$6.5M
Land, buildings, equipmentLn 10c$6.0M$6.0M
Total assetsLn 16$14.3M$14.0M
LiabilitiesLn 26$1.9M$1.8M
Net assetsLn 32$12.4M$12.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$166K$166K
Pay of current officers, directors and key staffLn 5$252K$252K
Other salaries and wagesLn 7$3.5M$2.7M$641K$144K
Pension plan contributionsLn 8$85K$81K$4K
Other employee benefitsLn 9$649K$609K$40K
Payroll taxesLn 10$124K$83K$30K$11K
Legal feesLn 11b$27K$1K$26K
Accounting feesLn 11c$26K$17K$9K
Investment management feesLn 11f$20K$20K
Other fees for servicesLn 11g$212K$56K$131K$26K
Advertising and promotionLn 12$2K$570$1K
Office expensesLn 13$84K$41K$35K$7K
Information technologyLn 14$63K$22K$25K$17K
OccupancyLn 16$212K$212K
TravelLn 17$31K$26K$6K
InterestLn 20$49K$49K
Depreciation, depletion and amortizationLn 22$144K$132K$13K
InsuranceLn 23$99K$99K$66
Other expenses (24a–d)Ln 24$665K$564K$63K$38K
Total functional expensesLn 25$6.4M$4.8M$1.3M$242K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $5.9M$5.3M$639K$14.2M 990 PDF
FY2024 $5.8M$5.5M$336K$13.3M 990 PDF
FY2023 Viewing $5.1M$6.4M−$1.3M$12.2M 990 PDF
FY2022 $7.3M$6.0M$1.2M$12.4M 990 PDF
FY2021 $6.2M$6.0M$243K$14.7M 990 PDF
FY2020 $5.9M$5.8M$38K$13.3M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $5,092,301 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $673,575$947,791
I-9 Program service revenuePrior year $4,483,320$4,692,932
I-10 Investment incomePrior year $2,098,880−$584,150
I-11 Other revenuePrior year $23,124$35,728
I-12 Total revenuePrior year $7,278,899$5,092,301
I-13 Grants and similar amounts paidPrior year $177,579$166,342
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $4,101,007$4,624,462
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,753,260$1,634,732
I-18 Total expensesPrior year $6,031,846$6,425,536
I-19 Revenue less expensesPrior year $1,247,053−$1,333,235
Part VI · Governance 14 of 14 board members independent, 1 to look at
VI-1a Voting members of the governing body14
VI-1b Independent voting members14
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $5,092,301 across 10 lines filed
VIII-1c Fundraising events$3,165
VIII-1e Government grants$208,371
VIII-1f All other contributions, gifts and grants$736,255
VIII-1g Noncash contributions (included above)$116,921
VIII-1h Total contributions, gifts and grants$947,791
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $4,692,932$4,692,932
VIII-3 Investment incomeExcluded from tax $133,446$133,446
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$717,596−$717,596
VIII-8 Net income from fundraising eventsExcluded from tax $35,728$35,728
VIII-12 Total revenueRelated to mission $4,692,932 · Unrelated business $0 · Excluded from tax −$548,422$5,092,301
Part IX · Statement of functional expenses $6,425,536 across 19 lines filed
IX-2 Grants to domestic individualsPrograms $166,342$166,342
IX-5 Pay of current officers, directors and key staffManagement $251,718$251,718
IX-7 Other salaries and wagesPrograms $2,729,299 · Management $641,180 · Fundraising $143,515$3,513,994
IX-8 Pension plan contributionsPrograms $80,873 · Management $4,404$85,277
IX-9 Other employee benefitsPrograms $608,797 · Management $40,271$649,068
IX-10 Payroll taxesPrograms $83,328 · Management $30,333 · Fundraising $10,744$124,405
IX-11b Legal feesPrograms $1,062 · Management $26,372$27,434
IX-11c Accounting feesPrograms $17,000 · Management $9,231$26,231
IX-11f Investment management feesManagement $19,839$19,839
IX-11g Other fees for servicesPrograms $55,818 · Management $130,603 · Fundraising $25,636$212,057
IX-12 Advertising and promotionPrograms $570 · Management $1,437$2,007
IX-13 Office expensesPrograms $41,369 · Management $34,782 · Fundraising $7,416$83,567
IX-14 Information technologyPrograms $21,895 · Management $24,743 · Fundraising $16,861$63,499
IX-16 OccupancyPrograms $211,936$211,936
IX-17 TravelPrograms $25,521 · Management $5,819$31,340
IX-20 InterestManagement $48,697$48,697
IX-22 Depreciation, depletion and amortizationPrograms $131,581 · Management $12,534$144,115
IX-23 InsurancePrograms $98,823 · Management $66$98,889
IX-24 Other expenses (24a–d)Programs $564,378 · Management $62,623 · Fundraising $38,120$665,121
IX-25 Total functional expensesPrograms $4,838,592 · Management $1,344,652 · Fundraising $242,292$6,425,536
Part X · Balance sheet $13,989,461 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $460,058$840,789
X-2 Savings and temporary cash investmentsStart of year $733,015$429,795
X-3 Pledges and grants receivableStart of year $40,000$13,000
X-4 Accounts receivableStart of year $314,600$172,994
X-9 Prepaid expenses and deferred chargesStart of year $189,812$101,800
X-10c Land, buildings and equipment, netStart of year $5,998,185$5,974,870
X-11 Publicly traded securitiesStart of year $6,581,083$6,456,213
X-16 Total assetsStart of year $14,316,753$13,989,461
X-17 Accounts payable and accrued expensesStart of year $676,515$531,890
X-18 Grants payableStart of year $327,179$323,967
X-19 Deferred revenueStart of year $24,140$15,703
X-24 Unsecured notes and loans payableStart of year $300,000$350,000
X-26 Total liabilitiesStart of year $1,944,382$1,790,738
X-27 Net assets without donor restrictionsStart of year $2,857,335$2,446,276
X-28 Net assets with donor restrictionsStart of year $9,515,036$9,752,447
X-32 Total net assets or fund balancesStart of year $12,372,371$12,198,723
X-33 Total liabilities and net assetsStart of year $14,316,753$13,989,461
Part XI · Reconciliation of net assets $12,198,723 net assets at year end
XI-1 Total revenue$5,092,301
XI-2 Total expenses$6,425,536
XI-3 Revenue less expenses−$1,333,235
XI-4 Net assets at start of year$12,372,371
XI-5 Net unrealized gains (losses) on investments$1,134,078
XI-9 Other changes in net assets$25,509
XI-10 Net assets at end of year$12,198,723

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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