St Benedict Classical Academy INC FY2024 filing

Tax-deductible

Natick, MA501(c)(3)Since 2013EducationEIN 46-3090230Revenue $10.4M in FY2024

On file with the IRSstbca.org89 Union St, 01760-6073 · Natick, MATax-exempt since Jun 2014School — 170(b)(1)(A)(ii)

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St. Benedict Classical Academy offers a distinctive Classical catholic education for the whole child, cultivating intellectual and moral virtue in a joyful, christ-centered environment, rooted in the riches of catholic magisterial teaching as defined by the catechism of the catholic church. In uniting the catholic faith with a Classical curriculum, and integrating into the life of the school the virtues first learned in the family, our students gain not only knowledge, but an appreciation of education as a noble pursuit.

501(c)(3) charity; gifts are tax-deductible.
79¢ of each $1 spent went to programs.
$197K 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

FY2024 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $2.4M a year · 52% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
79%
of spending
Looks good: 79% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$197K
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
3 mo
of spending, in cash
Fine: 2.6 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
7
named funders · $227K
Looks good: 7 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$2.6M
13% of total assets
Looks good: liabilities are 13% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$10.4M
+205% vs prior year
Spent
$3.5M
To programs
79%
Net assets
$17.7M
By yearFY2020–FY2024
Revenue
$10.4M
FY2024▲ +205%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.1M
FY2021$5.4M
FY2022$3.1M
FY2023$3.4M
FY2024$10.4M
FY2024$10.8M
Expenses
$3.5M
FY2024▲ +19%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.3M
FY2021$1.6M
FY2022$2.1M
FY2023$2.9M
FY2024$3.5M
FY2024$5.3M
Net assets
$17.7M
FY2024▲ +64%
Tap a bar for its year
Net assets by fiscal year
FY2020$5.3M
FY2021$9.2M
FY2022$10.3M
FY2023$10.8M
FY2024$17.7M
FY2024$23.1M

From the FY2024 Form 990 (year ending June 2024) · 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: FY2024. IRS ruling in Jun 2014.

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

Where the money goes

79 cents of each dollar spent went to programs.

Program services 79% · $2.7M Management & general 21% · $730K

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

10 people listed on the 990; $197K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Head of School
$197,405Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

James L Boren JR’s $222K as Head of School is at the 45th percentile of top reported officer pay among 3683 $10–100M 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 · 4 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
James L Boren JR$222,103$197,405$176,013$133,900$130,000$105,000
Alex Newsome$117,375—————
Hadley Keefe$113,000—————
Ivy Schmalzried$106,950—————

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.

See St Benedict Classical Academy INC executive salaries →

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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
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Provides a classical Catholic education for Pre-K through 6th grade students.

Provided by the organization

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1 program · $2.7M · in their own filed words · FY2023
01

ST. Benedict classical academy, inc. Offers a classical catholic education for the whole child, fostering academic, moral and spiritual excellence. We seek to provide each student with a foundation for life, rooted in strong intellect, heart and character, formed in a joyful and faithful catholic environment.

$2.7Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
See all 7 funders →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$10.4M
Ln 12
Gifts and grantsLn 1h$7.8M
Fees for servicesLn 2g$2.3M
Other incomeLn 4–11$321K
Money outPt IX
$3.5M
Ln 25
Programscol B$2.7M
Managementcol C$730K
Owns and owesPt X
$17.7M
net assets · Ln 32
Cash and savingsLn 1–2$738K
Total assetsLn 16$20.2M
LiabilitiesLn 26$2.6M
PeoplePt VI, VII
10
listed · VII A
PaidVII A1
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$7.8M
Noncash giftsLn 1g$55K
Fees for servicesLn 2g$2.3M
Other incomeLn 4–11$321K
Total revenueLn 12$10.4M
Assets in detailPt X, end of year
CashLn 1$738K
Cash and savings togetherLn 1–2$738K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$19.4M
Other assetsLn 15$35K
Total assetsLn 16$20.2M
LiabilitiesLn 26$2.6M
Net assetsLn 32$17.7M
OperationsPt I, VI
EmployeesI 555
VolunteersI 650
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$4.5M$738K
InvestmentsLn 11–13$47K$0
Land, buildings, equipmentLn 10c$6.6M$19.4M
Total assetsLn 16$11.7M$20.2M
LiabilitiesLn 26$895K$2.6M
Net assetsLn 32$10.8M$17.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$2.0M$1.7M$393K
Pension plan contributionsLn 8$6K$4K$1K
Other employee benefitsLn 9$354K$201K$153K
Payroll taxesLn 10$167K$129K$38K
Legal feesLn 11b$315$315
Accounting feesLn 11c$55K$55K
Advertising and promotionLn 12$9K$9K
Office expensesLn 13$75K$31K$44K
OccupancyLn 16$237K$237K
Depreciation, depletion and amortizationLn 22$36K$34K$2K
InsuranceLn 23$36K$34K$2K
Other expenses (24a–d)Ln 24$391K$349K$41K
All other expensesLn 24e$57K$56K$733
Total functional expensesLn 25$3.5M$2.7M$730K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Viewing $10.4M$3.5M$6.9M$17.7M 990 PDF
FY2023 $3.4M$2.9M$468K$10.8M 990 PDF
FY2022 $3.1M$2.1M$1.1M$10.3M 990 PDF
FY2021 $5.4M$1.6M$3.9M$9.2M 990 PDF
FY2020 $1.1M$1.3M−$212K$5.3M 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 FY2024 990 (6 parts)
Part I · Summary $10,361,185 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,234,001$7,757,429
I-9 Program service revenuePrior year $1,907,919$2,282,972
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $253,480$320,784
I-12 Total revenuePrior year $3,395,400$10,361,185
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $2,060,335$2,575,812
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $866,569$894,911
I-18 Total expensesPrior year $2,926,904$3,470,723
I-19 Revenue less expensesPrior year $468,496$6,890,462
Part VI · Governance 9 of 9 board members independent, 2 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-13 Written whistleblower policyNo
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-15a Process for setting top official's payYes
Part VIII · Statement of revenue $10,361,185 across 7 lines filed
VIII-1f All other contributions, gifts and grants$7,757,429
VIII-1g Noncash contributions (included above)$54,626
VIII-1h Total contributions, gifts and grants$7,757,429
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,282,972$2,282,972
VIII-8 Net income from fundraising eventsExcluded from tax $167,024$167,024
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $153,760$153,760
VIII-12 Total revenueRelated to mission $2,436,732 · Unrelated business $0 · Excluded from tax $167,024$10,361,185
Part IX · Statement of functional expenses $3,470,723 across 13 lines filed
IX-7 Other salaries and wagesPrograms $1,656,071 · Management $393,152$2,049,223
IX-8 Pension plan contributionsPrograms $4,451 · Management $1,309$5,760
IX-9 Other employee benefitsPrograms $200,840 · Management $153,134$353,974
IX-10 Payroll taxesPrograms $128,926 · Management $37,929$166,855
IX-11b Legal feesPrograms $315$315
IX-11c Accounting feesManagement $54,742$54,742
IX-12 Advertising and promotionPrograms $8,619$8,619
IX-13 Office expensesPrograms $31,363 · Management $43,805$75,168
IX-16 OccupancyPrograms $236,763$236,763
IX-22 Depreciation, depletion and amortizationPrograms $34,221 · Management $1,801$36,022
IX-23 InsurancePrograms $33,953 · Management $1,787$35,740
IX-24 Other expenses (24a–d)Programs $349,264 · Management $41,482$390,746
IX-24e All other expensesPrograms $56,063 · Management $733$56,796
IX-25 Total functional expensesPrograms $2,740,849 · Management $729,874 · Fundraising $0$3,470,723
Part X · Balance sheet $20,246,559 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $4,453,943$737,669
X-4 Accounts receivableStart of year $48,908$81,230
X-9 Prepaid expenses and deferred chargesStart of year $9,227$7,011
X-10c Land, buildings and equipment, netStart of year $6,611,804$19,385,220
X-12 Other securitiesStart of year $47,392$0
X-15 Other assetsStart of year $490,000$35,429
X-16 Total assetsStart of year $11,661,274$20,246,559
X-17 Accounts payable and accrued expensesStart of year $503,716$2,025,163
X-19 Deferred revenueStart of year $118,495$176,308
X-25 Other liabilitiesStart of year $272,441$38,004
X-26 Total liabilitiesStart of year $894,652$2,589,475
X-27 Net assets without donor restrictionsStart of year $7,478,599$17,652,808
X-28 Net assets with donor restrictionsStart of year $3,288,023$4,276
X-32 Total net assets or fund balancesStart of year $10,766,622$17,657,084
X-33 Total liabilities and net assetsStart of year $11,661,274$20,246,559
Part XI · Reconciliation of net assets $17,657,084 net assets at year end
XI-1 Total revenue$10,361,185
XI-2 Total expenses$3,470,723
XI-3 Revenue less expenses$6,890,462
XI-4 Net assets at start of year$10,766,622
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$17,657,084

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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