Cheshire Academy FY2021 filing

Tax-deductible

Cheshire, CT501(c)(3)Since 1937EIN 06-0662113Revenue $25.5M in FY2021

On file with the IRScheshireacademy.org10 Main St, 06410-2403 · Cheshire, CTTax-exempt since Feb 1939School — 170(b)(1)(A)(ii)

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The Academy provides educational activities to approximately 300 students grades 9-12.

501(c)(3) charity; gifts are tax-deductible.
78¢ of each $1 spent went to programs.
$1.3M 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

FY2021 · 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
2 of 5
filings with a surplus
Average surplus $308K a year · 1% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
78%
of spending
Looks good: 78% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.3M
to officers and key staff · 6% of spending
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 3.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $284K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$6.3M
12% of total assets
Looks good: liabilities are 12% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$25.5M
Spent
$21.8M
To programs
78%
Net assets
$44.3M
By yearFY2021–FY2025
Revenue
$25.5M
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$25.5M
FY2022$20.8M
FY2023$20.4M
FY2024$22.3M
FY2025$28.3M
Expenses
$21.8M
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$21.8M
FY2022$22.7M
FY2023$22.6M
FY2024$23.5M
FY2025$25.1M
Net assets
$44.3M
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$44.3M
FY2022$40.7M
FY2023$38.9M
FY2024$37.9M
FY2025$40.4M

From the FY2021 Form 990 (year ending June 2021) · 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 Feb 1939.

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

Where the money goes

78 cents of each dollar spent went to programs.

Program services 78% · $16.9M Management & general 16% · $3.5M Fundraising 6% · $1.4M

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

23 people listed on the 990; $1.3M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Head of School
$329,911Pt VII · Sec A
Chief Advancement Officer
$175,566Pt VII · Sec A
Director of Admission
$166,014Pt VII · Sec A
Chief Financial Officer
$143,870Pt VII · Sec A
Assoc. Head of School
$134,500Pt VII · Sec A
Chief Marketing Officer
$123,110Pt VII · Sec A
Director of Institutional Research
$115,934Pt VII · Sec A
Director of Development
$110,805Pt VII · Sec A

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

NameFY2025FY2024FY2023FY2022FY2021
Julie Anderson$362,724$394,987$394,922$333,496$329,911
Joe Long$195,021————
Amy Brough——$121,052$174,480$175,566
Sara Lynn Leavenworth——$169,931$167,364$166,014
Matthew Piechota$166,922$160,079$154,111$146,758$143,870
Adolphus Clinton$166,305$155,883———
Barbara Davis—$138,854$129,592$112,303$110,805
David Dykeman———$131,807$134,500

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

Offers educational activities to about 300 high school students.

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Provided by the organization

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1 program · $16.9M · in their own filed words · FY2020
01

Cheshire academy students grow increasingly capable of independently observing, questioning, explaining, interpreting, and analyzing the world. Our academic process begins with what students know and want to know, and develops active learners who reflect on their growth and the implications of their learning.

$16.9Mprogram 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$284K
Grants paid · 10 grants · $25.0M · 2020–2024
Unitemized GrantFY2024$4,678,387
Unitemized GrantFY2024$128,875
Unitemized GrantFY2023$4,808,846
Unitemized GrantFY2023$64,823
Unitemized GrantFY2022$4,173,851
Unitemized GrantFY2022$111,240
Unitemized GrantFY2021$4,980,821
Unitemized GrantFY2021$82,797
Unitemized GrantFY2020$5,871,049
Unitemized GrantFY2020$59,785

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$25.5M
Ln 12
Fees for servicesLn 2g$18.1M
Gifts and grantsLn 1h$4.9M
Investment incomeLn 3$2.3M
Money outPt IX
$21.8M
Ln 25
Programscol B$16.9M
Managementcol C$3.5M
Fundraisingcol D$1.4M
Owns and owesPt X
$44.3M
net assets · Ln 32
Cash and savingsLn 1–2$7.1M
Total assetsLn 16$50.6M
LiabilitiesLn 26$6.3M
PeoplePt VI, VII
23
listed · VII A
PaidVII A8
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4.9M
Government grantsLn 1e$3.4M
Noncash giftsLn 1g$43K
Fees for servicesLn 2g$18.1M
Investment incomeLn 3$2.3M
Other incomeLn 4–11$99K
Gains on assetsLn 7$2.3M
Total revenueLn 12$25.5M
Assets in detailPt X, end of year
CashLn 1$5.5M
SavingsLn 2$1.6M
Cash and savings togetherLn 1–2$7.1M
InvestmentsLn 11–13$23.0M
Land, buildings, equipmentLn 10c$18.2M
Total assetsLn 16$50.6M
LiabilitiesLn 26$6.3M
Net assetsLn 32$44.3M
OperationsPt I, VI
EmployeesI 5159
VolunteersI 615
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$4.2M$7.1M
InvestmentsLn 11–13$15.3M$23.0M
Land, buildings, equipmentLn 10c$19.0M$18.2M
Total assetsLn 16$40.6M$50.6M
LiabilitiesLn 26$5.6M$6.3M
Net assetsLn 32$35.1M$44.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$700$700
Grants to domestic individualsLn 2$5.9M$5.9M
Pay of current officers, directors and key staffLn 5$763K$38K$686K$38K
Pay of disqualified personsLn 6$89K$89K
Other salaries and wagesLn 7$6.6M$4.6M$1.2M$802K
Pension plan contributionsLn 8$379K$268K$66K$46K
Other employee benefitsLn 9$1.4M$922K$304K$163K
Payroll taxesLn 10$622K$400K$152K$71K
Legal feesLn 11b$56K$56K
Accounting feesLn 11c$43K$43K
Investment management feesLn 11f$52K$52K
Other fees for servicesLn 11g$1.1M$821K$211K$83K
Advertising and promotionLn 12$63K$49K$14K
Office expensesLn 13$863K$574K$198K$91K
Information technologyLn 14$61K$53K$4K$4K
OccupancyLn 16$555K$460K$74K$20K
TravelLn 17$63K$32K$17K$14K
InterestLn 20$28K$23K$3K$881
Depreciation, depletion and amortizationLn 22$1.3M$1.1M$150K$41K
InsuranceLn 23$140K$119K$16K$4K
Other expenses (24a–d)Ln 24$1.6M$1.5M$135K$9K
All other expensesLn 24e$115K$24K$91K
Total functional expensesLn 25$21.8M$16.9M$3.5M$1.4M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $28.3M$25.1M$3.2M$40.4M 990 PDF
FY2024 $22.3M$23.5M−$1.2M$37.9M 990 PDF
FY2023 $20.4M$22.6M−$2.2M$38.9M 990 PDF
FY2022 $20.8M$22.7M−$1.9M$40.7M 990 PDF
FY2021 Viewing $25.5M$21.8M$3.6M$44.3M 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 FY2021 990 (6 parts)
Part I · Summary $25,477,225 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,648,339$4,941,965
I-9 Program service revenuePrior year $19,664,852$18,122,718
I-10 Investment incomePrior year $525,179$2,313,922
I-11 Other revenuePrior year $21,525$98,620
I-12 Total revenuePrior year $22,859,895$25,477,225
I-13 Grants and similar amounts paidPrior year $4,378,669$5,931,534
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $10,423,576$9,854,408
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $7,079,210$6,045,067
I-18 Total expensesPrior year $21,881,455$21,831,009
I-19 Revenue less expensesPrior year $978,440$3,646,216
Part VI · Governance 13 of 13 board members independent, no flags
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $25,477,225 across 10 lines filed
Lines not itemized here account for −$957 of total revenue; see the IRS return.
VIII-1e Government grants$3,433,585
VIII-1f All other contributions, gifts and grants$1,508,380
VIII-1g Noncash contributions (included above)$42,957
VIII-1h Total contributions, gifts and grants$4,941,965
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $18,122,718$18,122,718
VIII-3 Investment incomeExcluded from tax $59,951$59,951
VIII-6 Net rental income or lossExcluded from tax $29,879$29,879
VIII-7 Net gain or loss on sales of assetsExcluded from tax $2,253,971$2,253,971
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $69,698$69,698
VIII-12 Total revenueRelated to mission $18,121,761 · Unrelated business $0 · Excluded from tax $2,413,499$25,477,225
Part IX · Statement of functional expenses $21,831,009 across 22 lines filed
IX-1 Grants to domestic organizationsPrograms $700$700
IX-2 Grants to domestic individualsPrograms $5,930,834$5,930,834
IX-5 Pay of current officers, directors and key staffPrograms $38,447 · Management $685,933 · Fundraising $38,446$762,826
IX-6 Pay of disqualified personsPrograms $89,007$89,007
IX-7 Other salaries and wagesPrograms $4,614,326 · Management $1,196,549 · Fundraising $801,620$6,612,495
IX-8 Pension plan contributionsPrograms $267,654 · Management $66,136 · Fundraising $45,652$379,442
IX-9 Other employee benefitsPrograms $921,876 · Management $304,140 · Fundraising $162,732$1,388,748
IX-10 Payroll taxesPrograms $399,502 · Management $151,741 · Fundraising $70,647$621,890
IX-11b Legal feesManagement $55,975$55,975
IX-11c Accounting feesManagement $43,050$43,050
IX-11f Investment management feesManagement $51,578$51,578
IX-11g Other fees for servicesPrograms $820,900 · Management $210,625 · Fundraising $82,668$1,114,193
IX-12 Advertising and promotionManagement $48,724 · Fundraising $14,385$63,109
IX-13 Office expensesPrograms $574,352 · Management $197,948 · Fundraising $90,995$863,295
IX-14 Information technologyPrograms $52,665 · Management $4,354 · Fundraising $3,732$60,751
IX-16 OccupancyPrograms $460,411 · Management $74,491 · Fundraising $20,262$555,164
IX-17 TravelPrograms $31,798 · Management $17,375 · Fundraising $13,896$63,069
IX-20 InterestPrograms $23,430 · Management $3,239 · Fundraising $881$27,550
IX-22 Depreciation, depletion and amortizationPrograms $1,085,499 · Management $150,054 · Fundraising $40,817$1,276,370
IX-23 InsurancePrograms $119,187 · Management $16,476 · Fundraising $4,481$140,144
IX-24 Other expenses (24a–d)Programs $1,472,115 · Management $135,398 · Fundraising $8,758$1,616,271
IX-24e All other expensesPrograms $23,916 · Management $90,632$114,548
IX-25 Total functional expensesPrograms $16,926,619 · Management $3,504,418 · Fundraising $1,399,972$21,831,009
Part X · Balance sheet $50,566,878 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $2,482,753$5,482,429
X-2 Savings and temporary cash investmentsStart of year $1,727,566$1,576,430
X-3 Pledges and grants receivableStart of year $1,533,950$1,197,208
X-4 Accounts receivableStart of year $207,502$777,368
X-8 Inventories for sale or useStart of year $30,959$24,765
X-9 Prepaid expenses and deferred chargesStart of year $324,963$300,870
X-10c Land, buildings and equipment, netStart of year $19,001,551$18,180,348
X-11 Publicly traded securitiesStart of year $15,326,454$14,497,323
X-12 Other securities$8,530,137
X-16 Total assetsStart of year $40,635,698$50,566,878
X-17 Accounts payable and accrued expensesStart of year $339,286$248,707
X-19 Deferred revenueStart of year $2,777,708$3,657,905
X-25 Other liabilitiesStart of year $1,977,500$1,977,500
X-26 Total liabilitiesStart of year $5,569,494$6,264,112
X-27 Net assets without donor restrictionsStart of year $18,521,238$20,654,066
X-28 Net assets with donor restrictionsStart of year $16,544,966$23,648,700
X-32 Total net assets or fund balancesStart of year $35,066,204$44,302,766
X-33 Total liabilities and net assetsStart of year $40,635,698$50,566,878
Part XI · Reconciliation of net assets $44,302,766 net assets at year end
XI-1 Total revenue$25,477,225
XI-2 Total expenses$21,831,009
XI-3 Revenue less expenses$3,646,216
XI-4 Net assets at start of year$35,066,204
XI-5 Net unrealized gains (losses) on investments$221,515
XI-8 Prior period adjustments$4,309,075
XI-9 Other changes in net assets$1,059,756
XI-10 Net assets at end of year$44,302,766

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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