Friends Academy

The information in this column was provided to MinistryWatch by the ministry itself. It was last updated 9/15/2021. To update the information in this column, please email: info@ministrywatch.com


Summary

A Quaker school, Friends Academy is firmly committed to the testimonies of simplicity, peace, integrity, community, equality, service, and stewardship. These testimonies, which have guided the school for 140+ years, are evident in every corner of the campus: in classrooms and offices, on fields and stages, in gymnasiums and art studios, and in the Meeting House, where each week we gather for Meeting for Worship - silent, reflective, communal time.


Contact information

Mailing address:
Friends Academy
270 Duck Pond Road
Locust Valley, NY 11560

Website: fa.org

Phone: 516-676-0393

Email: Andrea_Kelly@fa.org


Organization details

EIN: 111633485

CEO/President: Andrea Kelly

Chairman: Frank Ingrassia

Board size: 15

Founder:

Ruling year: 1934

Tax deductible: Yes

Fiscal year end: 06/30

Member of ECFA: No

Member of ECFA since:


Purpose

We take an excellent education and contextualize it with real-world questions, and then equip students with the knowledge and resources to develop real-time solutions. We do all of this with our values at the forefront to guide us through decisions and milestones with intention and discernment.

When a child's entire educational experience is based on a foundation of essential, human values, they develop into open, caring, and confident adults. Our Quaker approach to education is rooted in our core values of simplicity, peace, integrity, community, equity, stewardship, and service.

While these values are historical tenets of Quakerism, at Friends Academy, they are values that are very much present, active, and alive. We don't just teach or learn what's in front us, we dive deeper into the "why."


Mission statement

Our Quaker Mission: At Friends Academy, students are taught that integrity matters in all they do, and that the standards we keep in the classrooms and hallways of our school are indicators of how we'll impact the world.


Statement of faith

Donor confidence score

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Transparency grade

D

To understand our transparency grade, click here.


Financial efficiency ratings

Sector: K-12 Schools/Academies

CategoryRatingOverall rankSector rank
Overall efficiency rating914 of 102239 of 40
Fund acquisition rating795 of 102434 of 40
Resource allocation rating990 of 102440 of 40
Asset utilization rating534 of 102222 of 40

Financial ratios

Funding ratiosSector median20212020201920182017
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
13%41%36%41%28%32%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
3%4%4%3%3%3%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
13%9%10%8%11%9%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
3%3%4%3%3%3%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
87%91%90%92%89%91%
 
Operating ratiosSector median20212020201920182017
Program expense ratio Program expense ratio =
Program services /
Total expenses
82%66%83%85%85%83%
Spending ratio Spending ratio =
Total expenses /
Total revenue
96%128%97%100%97%98%
Program output ratio Program output ratio =
Program services /
Total revenue
77%84%81%84%82%81%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
4%-28%3%0%3%2%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
4%-8%1%0%1%1%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
15%31%13%12%12%14%
 
Investing ratiosSector median20212020201920182017
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.420.330.280.290.280.30
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
3.121.541.611.661.681.87
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.490.510.450.490.480.56
 
Liquidity ratiosSector median20212020201920182017
Current ratio Current ratio =
Total current assets /
Total current liabilities
3.1011.1813.5010.149.468.37
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.320.090.070.100.110.12
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
4.0621.4224.8522.2022.4918.84
 
Solvency ratiosSector median20212020201920182017
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
40%14%13%15%19%31%
Debt ratio Debt ratio =
Debt /
Total assets
14%8%9%9%10%11%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
158%261%312%289%284%231%

Financials

Balance sheet
 
Assets20212020201920182017
Cash$6,680,338$4,514,449$2,996,453$4,486,583$4,687,079
Receivables, inventories, prepaids$799,669$1,050,955$506,861$608,635$647,029
Short-term investments$68,851,560$62,453,290$61,870,943$58,489,081$49,186,579
Other current assets$0$0$0$0$0
Total current assets$76,331,567$68,018,694$65,374,257$63,584,299$54,520,687
Long-term investments$116,999$209,336$621,209$946,341$4,170,478
Fixed assets$41,454,252$41,508,672$42,746,020$42,093,560$43,216,144
Other long-term assets$2,712$4,653$1,221$3,780$5,940
Total long-term assets$41,573,963$41,722,661$43,368,450$43,043,681$47,392,562
Total assets$117,905,530$109,741,355$108,742,707$106,627,980$101,913,249
 
Liabilities20212020201920182017
Payables and accrued expenses$2,653,763$1,803,204$2,106,702$1,946,857$1,831,278
Other current liabilities$4,173,381$3,233,444$4,338,586$4,777,519$4,684,476
Total current liabilities$6,827,144$5,036,648$6,445,288$6,724,376$6,515,754
Debt$9,320,037$9,714,003$10,097,793$10,473,613$10,840,335
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$0$0$0$3,378,363$13,901,534
Total long-term liabilities$9,320,037$9,714,003$10,097,793$13,851,976$24,741,869
Total liabilities$16,147,181$14,750,651$16,543,081$20,576,352$31,257,623
 
Net assets20212020201920182017
Without donor restrictions$96,167,292$90,373,637$89,054,994$83,186,576$68,026,007
With donor restrictions$5,591,057$4,617,067$3,144,632$2,865,052$2,629,619
Net assets$101,758,349$94,990,704$92,199,626$86,051,628$70,655,626
 
Revenues and expenses
 
Revenue20212020201920182017
Total contributions$2,779,270$3,047,511$2,628,916$3,414,420$2,926,096
Program service revenue$26,094,302$26,681,954$27,271,388$26,343,144$25,832,265
Membership dues$0$0$0$0$0
Investment income$1,217,204$1,576,679$1,514,138$1,240,395$2,102,490
Other revenue$320,562$164,327$559,482$303,546$404,976
Total other revenue$27,632,068$28,422,960$29,345,008$27,887,085$28,339,731
Total revenue$30,411,338$31,470,471$31,973,924$31,301,505$31,265,827
 
Expenses20212020201920182017
Program services$25,585,288$25,347,317$26,926,779$25,643,288$25,421,914
Management and general$12,206,463$3,960,987$3,840,034$3,730,414$4,234,119
Fundraising$1,148,442$1,108,509$1,089,941$968,249$922,436
Total expenses$38,940,193$30,416,813$31,856,754$30,341,951$30,578,469
 
Change in net assets20212020201920182017
Surplus (deficit)($8,528,855)$1,053,658$117,170$959,554$687,358
Other changes in net assets$0$0$0$0$0
Total change in net assets($8,528,855)$1,053,658$117,170$959,554$687,358

Compensation

NameTitleCompensation
Andrea KellyHead of School$635,702
Ann Marie TidonaDirector of Finance$346,818
Jenifer HallidayAssistant Head of School$302,442
Mark SchoeffelUpper School Principal$267,350
Ronald BaskindDean of Students$251,376
Kevin BarryDirector of Advancement$211,913
Kevin CrespiDirector of Branding$183,679

Compensation data as of: 6/30/2021


Response from ministry

No response has been provided by this ministry.


The information below was provided to MinistryWatch by the ministry itself. It was last updated 9/15/2021. To update the information below, please email: info@ministrywatch.com


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