Cheshire Academy: FY2023 Nonprofit Profile & Form 990 (EIN 06-0662113)

Revenue by fiscal year
FY2021	$25.5M
FY2022	$20.8M
FY2023	$20.4M
FY2024	$22.3M
FY2025	$28.3M

Expenses by fiscal year
FY2021	$21.8M
FY2022	$22.7M
FY2023	$22.6M
FY2024	$23.5M
FY2025	$25.1M

Net assets by fiscal year
FY2021	$44.3M
FY2022	$40.7M
FY2023	$38.9M
FY2024	$37.9M
FY2025	$40.4M

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

77 cents of each dollar spent went to programs.

77%

17%

Program services 77% · $17.3M Management & general 17% · $3.9M 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

24 people listed on the 990; $1.3M 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

Julie Anderson

Head of School

$394,922Pt VII · Sec A

Sara Lynn Leavenworth

Director of Admission

$169,931Pt VII · Sec A

Matthew Piechota

Chief Financial Officer

$154,111Pt VII · Sec A

Barbara Davis

Director of Development

$129,592Pt VII · Sec A

Amy Brough

Chief Advancement Officer

$121,052Pt VII · Sec A

Kenneth Mason

Chief Marketing Officer

$119,208Pt VII · Sec A

Nathan Wright

Director of Inst. Research

$115,598Pt VII · Sec A

Kristin Welage

Director of Human Resources

$110,642Pt VII · Sec A

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

Name	FY2025	FY2024	FY2023	FY2022	FY2021
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 · $17.3M · in their own filed words · FY2022

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.

$17.3Mprogram 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

Charles Harwood Uw FBO Cheshire Academy 10-217580FY2025$234K

William Ludwig Tr Ua FBO Cheshire Academy 22f209FY2025$50K

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 FY2023 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$20.4M

Ln 12

Fees for servicesLn 2g$17.1M

Gifts and grantsLn 1h$2.0M

Investment incomeLn 3$1.1M

Money outPt IX

$22.6M

Ln 25

Programscol B$17.3M

Managementcol C$3.9M

Fundraisingcol D$1.4M

Owns and owesPt X

$38.9M

net assets · Ln 32

Cash and savingsLn 1–2$5.8M

Total assetsLn 16$50.0M

LiabilitiesLn 26$11.1M

PeoplePt VI, VII

24

listed · VII A

PaidVII A8

Voting boardVI 1a15

IndependentVI 1b15

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$2.0M

Noncash giftsLn 1g$391K

Fees for servicesLn 2g$17.1M

Investment incomeLn 3$1.1M

Other incomeLn 4–11$150K

Gains on assetsLn 7$645K

Total revenueLn 12$20.4M

Assets in detailPt X, end of year

CashLn 1$3.6M

SavingsLn 2$2.2M

Cash and savings togetherLn 1–2$5.8M

InvestmentsLn 11–13$20.7M

Land, buildings, equipmentLn 10c$21.8M

Total assetsLn 16$50.0M

LiabilitiesLn 26$11.1M

Net assetsLn 32$38.9M

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

Line	Start FY23	End FY23
Cash and savingsLn 1–2	$10.3M	$5.8M
InvestmentsLn 11–13	$19.6M	$20.7M
Land, buildings, equipmentLn 10c	$20.3M	$21.8M
Total assetsLn 16	$52.0M	$50.0M
LiabilitiesLn 26	$11.3M	$11.1M
Net assetsLn 32	$40.7M	$38.9M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$4.3M	$4.3M
Pay of current officers, directors and key staffLn 5	$861K	$51K	$758K	$51K
Pay of disqualified personsLn 6	$97K	$97K
Other salaries and wagesLn 7	$7.4M	$5.3M	$1.4M	$650K
Pension plan contributionsLn 8	$427K	$304K	$86K	$37K
Other employee benefitsLn 9	$1.2M	$880K	$247K	$106K
Payroll taxesLn 10	$614K	$408K	$155K	$52K
Legal feesLn 11b	$26K		$26K
Accounting feesLn 11c	$56K		$56K
Investment management feesLn 11f	$858		$858
Other fees for servicesLn 11g	$1.5M	$999K	$353K	$186K
Advertising and promotionLn 12	$88K		$41K	$47K
Office expensesLn 13	$902K	$667K	$160K	$75K
Information technologyLn 14	$69K	$57K	$389	$12K
OccupancyLn 16	$600K	$499K	$79K	$22K
TravelLn 17	$269K	$140K	$67K	$62K
Conferences, conventions and meetingsLn 19	$4K	$4K
InterestLn 20	$14K	$9K	$4K	$1K
Depreciation, depletion and amortizationLn 22	$1.5M	$1.3M	$177K	$48K
InsuranceLn 23	$193K	$164K	$23K	$6K
Other expenses (24a–d)Ln 24	$2.2M	$2.0M	$215K	$331
All other expensesLn 24e	$155K	$107K	$40K	$8K
Total functional expensesLn 25	$22.6M	$17.3M	$3.9M	$1.4M

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$28.3M	$25.1M	$3.2M	$40.4M	990 PDF
FY2024	$22.3M	$23.5M	−$1.2M	$37.9M	990 PDF
FY2023 Viewing	$20.4M	$22.6M	−$2.2M	$38.9M	990 PDF
FY2022	$20.8M	$22.7M	−$1.9M	$40.7M	990 PDF
FY2021	$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 FY2023 990 (6 parts)

Part I · Summary $20,387,255 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $3,967,492$2,031,955

I-9 Program service revenuePrior year $18,302,974$17,143,973

I-10 Investment incomePrior year −$1,904,382$1,061,294

I-11 Other revenuePrior year $438,270$150,033

I-12 Total revenuePrior year $20,804,354$20,387,255

I-13 Grants and similar amounts paidPrior year $5,063,618$4,285,091

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $9,532,644$10,642,759

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $8,131,777$7,628,013

I-18 Total expensesPrior year $22,728,039$22,555,863

I-19 Revenue less expensesPrior year −$1,923,685−$2,168,608

Part VI · Governance 15 of 15 board members independent, no flags

VI-1a Voting members of the governing body15

VI-1b Independent voting members15

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 $20,387,255 across 9 lines filed

Lines not itemized here account for $57,061 of total revenue; see the IRS return.

VIII-1f All other contributions, gifts and grants$2,031,955

VIII-1g Noncash contributions (included above)$391,370

VIII-1h Total contributions, gifts and grants$2,031,955

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $17,143,973$17,143,973

VIII-3 Investment incomeExcluded from tax $388,438$388,438

VIII-6 Net rental income or lossExcluded from tax $26,063$26,063

VIII-7 Net gain or loss on sales of assetsExcluded from tax $644,899$644,899

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $94,866$94,866

VIII-12 Total revenueRelated to mission $17,173,077 · Unrelated business $0 · Excluded from tax $1,182,223$20,387,255

Part IX · Statement of functional expenses $22,555,863 across 22 lines filed

IX-2 Grants to domestic individualsPrograms $4,285,091$4,285,091

IX-5 Pay of current officers, directors and key staffPrograms $51,296 · Management $758,192 · Fundraising $51,296$860,784

IX-6 Pay of disqualified personsPrograms $96,764$96,764

IX-7 Other salaries and wagesPrograms $5,326,426 · Management $1,434,743 · Fundraising $650,055$7,411,224

IX-8 Pension plan contributionsPrograms $304,246 · Management $85,712 · Fundraising $37,355$427,313

IX-9 Other employee benefitsPrograms $880,353 · Management $246,552 · Fundraising $106,011$1,232,916

IX-10 Payroll taxesPrograms $407,536 · Management $154,544 · Fundraising $51,678$613,758

IX-11b Legal feesManagement $26,120$26,120

IX-11c Accounting feesManagement $56,160$56,160

IX-11f Investment management feesManagement $858$858

IX-11g Other fees for servicesPrograms $998,711 · Management $352,668 · Fundraising $186,244$1,537,623

IX-12 Advertising and promotionManagement $41,222 · Fundraising $46,875$88,097

IX-13 Office expensesPrograms $666,581 · Management $160,436 · Fundraising $75,128$902,145

IX-14 Information technologyPrograms $56,987 · Management $389 · Fundraising $12,041$69,417

IX-16 OccupancyPrograms $499,019 · Management $79,364 · Fundraising $21,588$599,971

IX-17 TravelPrograms $140,087 · Management $66,762 · Fundraising $62,291$269,140

IX-19 Conferences, conventions and meetingsPrograms $4,297$4,297

IX-20 InterestPrograms $9,007 · Management $3,958 · Fundraising $1,077$14,042

IX-22 Depreciation, depletion and amortizationPrograms $1,301,654 · Management $177,221 · Fundraising $48,207$1,527,082

IX-23 InsurancePrograms $163,751 · Management $22,636 · Fundraising $6,157$192,544

IX-24 Other expenses (24a–d)Programs $1,970,604 · Management $214,855 · Fundraising $331$2,185,790

IX-24e All other expensesPrograms $107,193 · Management $40,019 · Fundraising $7,515$154,727

IX-25 Total functional expensesPrograms $17,269,603 · Management $3,922,411 · Fundraising $1,363,849$22,555,863

Part X · Balance sheet $49,955,438 assets, 18 lines filed

X-1 Cash, non-interest-bearingStart of year $4,937,513$3,573,055

X-2 Savings and temporary cash investmentsStart of year $5,408,906$2,236,922

X-3 Pledges and grants receivableStart of year $948,083$926,448

X-4 Accounts receivableStart of year $368,074$294,627

X-8 Inventories for sale or useStart of year $46,122$61,456

X-9 Prepaid expenses and deferred chargesStart of year $426,312$345,368

X-10c Land, buildings and equipment, netStart of year $20,323,204$21,791,795

X-11 Publicly traded securitiesStart of year $12,167,446$12,204,132

X-12 Other securitiesStart of year $7,401,644$8,521,635

X-16 Total assetsStart of year $52,027,304$49,955,438

X-17 Accounts payable and accrued expensesStart of year $1,367,380$757,271

X-19 Deferred revenueStart of year $4,600,157$4,896,759

X-20 Tax-exempt bond liabilitiesStart of year $4,978,039$5,145,165

X-26 Total liabilitiesStart of year $11,319,875$11,103,528

X-27 Net assets without donor restrictionsStart of year $21,651,888$19,213,601

X-28 Net assets with donor restrictionsStart of year $19,055,541$19,638,309

X-32 Total net assets or fund balancesStart of year $40,707,429$38,851,910

X-33 Total liabilities and net assetsStart of year $52,027,304$49,955,438

Part XI · Reconciliation of net assets $38,851,910 net assets at year end

XI-1 Total revenue$20,387,255

XI-2 Total expenses$22,555,863

XI-3 Revenue less expenses−$2,168,608

XI-4 Net assets at start of year$40,707,429

XI-5 Net unrealized gains (losses) on investments$43,676

XI-9 Other changes in net assets$269,413

XI-10 Net assets at end of year$38,851,910

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

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Cheshire Academy FY2023 filing

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