Friends Academy

The information on this page was last updated 4/21/2023. If you see errors or omissions, please email: [email protected]


Summary

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.

What is a Quaker Education?

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."


Contact information

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

Website: friendsacademy.org

Phone: 516-676-0393

Email: [email protected]


Organization details

EIN: 111633485

CEO/President: Paul J. Stellato

Chairman: Frank Ingrassia

Board size: 21

Founder:

Ruling year: 1934

Tax deductible: Yes

Fiscal year end: 06/30

Member of ECFA: No

Member of ECFA since:


Purpose

We achieve educational excellence by committing to the highest standards of learning and living.

Our diverse and welcoming community is strengthened by our Quaker values, which empower our students to inquire, reflect, and engage in their classrooms, in their neighborhoods, and in the world.

Because when we inspire students to learn and live with purpose, they achieve greatness without sacrificing goodness.

We keep our attention on what truly matters, simplifying whenever possible so that we can always stay close to the issue at hand. We know that less is more, in more ways than one. The world is a complicated place, and it's easy to get lost in the complexities. We know when to overlook the unnecessary so that the necessary can speak. This enables us to learn and live with the highest standards.

We see conflict as an opportunity for growth, approaching that inevitable tension with an intention of peace and dignity. Valuing peace doesn't mean we never take a stand or defend our ideas. We know the value of healthy debate and the beauty of seeing all sides of the story. We believe in the power of poise and self-control as the best ways to listen, learn, and compromise.

We balance the needs of individuals with the needs of our community and understand the relationship between both. We believe in the power of friendship, support, and connection, and we know that our world needs our collective efforts. We commit to each other so that we may solve our community's challenges and foster a sense of belonging for everyone. When we band together, we learn and live to the fullest.

We are seekers of equality and advocates for equity. We lift one another up and unify the light in us all. We respect all differences, and are curious about ideas, faiths, and backgrounds. We believe that society should be equitable and that inclusivity is not a goal to check off a list, but rather a culture that is intentionally woven into our lives. As a result, we learn from and with everyone we encounter.

We take accountability for the world around us through education, appreciation, and service. We approach education with a purpose to serve so that we may use our knowledge and our talents to push for social change and positively impact our community and our world.

Modeling the right relationship with our natural surroundings ensures a healthier world for generations to come. We understand the importance of educating our students about limited resources, how we can protect them, and why we must be stewards of our earth including and on behalf of those that may not be able to do so. This intentional balance of equity fuels creative ideas and sustainable solutions for our community and for our planet.

We believe in treating others with respect and honesty, seeing each interaction as a chance to act with integrity. We know that the standards we keep in the classrooms and hallways of our school are indicators of how we'll impact the world. We have high expectations of ourselves, and we reflect on our actions often so that we may shine our brightest.


Mission statement

Guided by our Quaker principles, Friends Academy educates our students to discover and develop the best of who they are and who they can become.


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 rating741 of 108539 of 47
Fund acquisition rating841 of 108840 of 47
Resource allocation rating543 of 108825 of 47
Asset utilization rating603 of 108529 of 47

Financial ratios

Funding ratiosSector median20222021202020192018
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
10%31%41%36%41%28%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
2%4%4%4%3%3%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
17%11%9%10%8%11%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
3%4%3%4%3%3%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
83%89%91%90%92%89%
 
Operating ratiosSector median20222021202020192018
Program expense ratio Program expense ratio =
Program services /
Total expenses
83%82%66%83%85%85%
Spending ratio Spending ratio =
Total expenses /
Total revenue
90%99%128%97%100%97%
Program output ratio Program output ratio =
Program services /
Total revenue
73%82%84%81%84%82%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
10%1%-28%3%0%3%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
8%0%-8%1%0%1%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
14%14%31%13%12%12%
 
Investing ratiosSector median20222021202020192018
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.440.310.330.280.290.28
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
3.101.631.541.611.661.68
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.520.510.510.450.490.48
 
Liquidity ratiosSector median20222021202020192018
Current ratio Current ratio =
Total current assets /
Total current liabilities
3.1010.1611.1813.5010.149.46
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.320.100.090.070.100.11
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
4.7621.3821.4224.8522.2022.49
 
Solvency ratiosSector median20222021202020192018
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
32%14%14%13%15%19%
Debt ratio Debt ratio =
Debt /
Total assets
11%8%8%9%9%10%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
147%275%261%312%289%284%

Financials

Balance sheet
 
Assets20222021202020192018
Cash$7,408,984$6,680,338$4,514,449$2,996,453$4,486,583
Receivables, inventories, prepaids$1,331,209$799,669$1,050,955$506,861$608,635
Short-term investments$57,027,441$68,851,560$62,453,290$61,870,943$58,489,081
Other current assets$0$0$0$0$0
Total current assets$65,767,634$76,331,567$68,018,694$65,374,257$63,584,299
Long-term investments$63,060$116,999$209,336$621,209$946,341
Fixed assets$41,134,915$41,454,252$41,508,672$42,746,020$42,093,560
Other long-term assets$1,034$2,712$4,653$1,221$3,780
Total long-term assets$41,199,009$41,573,963$41,722,661$43,368,450$43,043,681
Total assets$106,966,643$117,905,530$109,741,355$108,742,707$106,627,980
 
Liabilities20222021202020192018
Payables and accrued expenses$2,264,360$2,653,763$1,803,204$2,106,702$1,946,857
Other current liabilities$4,207,248$4,173,381$3,233,444$4,338,586$4,777,519
Total current liabilities$6,471,608$6,827,144$5,036,648$6,445,288$6,724,376
Debt$8,916,290$9,320,037$9,714,003$10,097,793$10,473,613
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$0$0$0$0$3,378,363
Total long-term liabilities$8,916,290$9,320,037$9,714,003$10,097,793$13,851,976
Total liabilities$15,387,898$16,147,181$14,750,651$16,543,081$20,576,352
 
Net assets20222021202020192018
Without donor restrictions$87,655,678$96,167,292$90,373,637$89,054,994$83,186,576
With donor restrictions$3,923,067$5,591,057$4,617,067$3,144,632$2,865,052
Net assets$91,578,745$101,758,349$94,990,704$92,199,626$86,051,628
 
Revenues and expenses
 
Revenue20222021202020192018
Total contributions$3,819,168$2,779,270$3,047,511$2,628,916$3,414,420
Program service revenue$28,433,081$26,094,302$26,681,954$27,271,388$26,343,144
Membership dues$0$0$0$0$0
Investment income$1,394,558$1,217,204$1,576,679$1,514,138$1,240,395
Other revenue($9,723)$320,562$164,327$559,482$303,546
Total other revenue$29,817,916$27,632,068$28,422,960$29,345,008$27,887,085
Total revenue$33,637,084$30,411,338$31,470,471$31,973,924$31,301,505
 
Expenses20222021202020192018
Program services$27,435,781$25,585,288$25,347,317$26,926,779$25,643,288
Management and general$4,658,106$12,206,463$3,960,987$3,840,034$3,730,414
Fundraising$1,182,359$1,148,442$1,108,509$1,089,941$968,249
Total expenses$33,276,246$38,940,193$30,416,813$31,856,754$30,341,951
 
Change in net assets20222021202020192018
Surplus (deficit)$360,838($8,528,855)$1,053,658$117,170$959,554
Other changes in net assets$0$0$0$0$0
Total change in net assets$360,838($8,528,855)$1,053,658$117,170$959,554

Compensation

NameTitleCompensation
Andrea KellyHead of School$719,546
Ann Marie TidonaDirector of Finance$360,799
Jenifer HallidayAssistant Head of School$302,298
Taisha ThompsonDirector of Admissions$283,843
Mark SchoeffelUpper School Principal$239,305
Kevin BarryDirector of Advancement$224,516
Alan Quackenbush Head ofPhysical Edu. Thru Nov. 2021$218,571

Compensation data as of: 6/30/2022


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 4/21/2023. To update the information below, please email: [email protected]


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