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
Transparency grade
D
To understand our transparency grade, click here.
Financial efficiency ratings
Sector: K-12 Schools/Academies
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 914 of 1022 | 39 of 40 |
| Fund acquisition rating | | 795 of 1024 | 34 of 40 |
| Resource allocation rating | | 990 of 1024 | 40 of 40 |
| Asset utilization rating | | 534 of 1022 | 22 of 40 |
Financial ratios
| Funding ratios | Sector median | 2021 | 2020 | 2019 | 2018 | 2017 |
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 ratios | Sector median | 2021 | 2020 | 2019 | 2018 | 2017 |
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 ratios | Sector median | 2021 | 2020 | 2019 | 2018 | 2017 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.42 | 0.33 | 0.28 | 0.29 | 0.28 | 0.30 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 3.12 | 1.54 | 1.61 | 1.66 | 1.68 | 1.87 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.49 | 0.51 | 0.45 | 0.49 | 0.48 | 0.56 |
| Liquidity ratios | Sector median | 2021 | 2020 | 2019 | 2018 | 2017 |
Current ratio Current ratio = Total current assets / Total current liabilities | 3.10 | 11.18 | 13.50 | 10.14 | 9.46 | 8.37 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.32 | 0.09 | 0.07 | 0.10 | 0.11 | 0.12 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 4.06 | 21.42 | 24.85 | 22.20 | 22.49 | 18.84 |
| Solvency ratios | Sector median | 2021 | 2020 | 2019 | 2018 | 2017 |
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 | |||||
| Assets | 2021 | 2020 | 2019 | 2018 | 2017 |
| 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 |
| Liabilities | 2021 | 2020 | 2019 | 2018 | 2017 |
| 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 assets | 2021 | 2020 | 2019 | 2018 | 2017 |
| 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 | |||||
| Revenue | 2021 | 2020 | 2019 | 2018 | 2017 |
| 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 |
| Expenses | 2021 | 2020 | 2019 | 2018 | 2017 |
| 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 assets | 2021 | 2020 | 2019 | 2018 | 2017 |
| 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
| Name | Title | Compensation |
| Andrea Kelly | Head of School | $635,702 |
| Ann Marie Tidona | Director of Finance | $346,818 |
| Jenifer Halliday | Assistant Head of School | $302,442 |
| Mark Schoeffel | Upper School Principal | $267,350 |
| Ronald Baskind | Dean of Students | $251,376 |
| Kevin Barry | Director of Advancement | $211,913 |
| Kevin Crespi | Director 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