Bridgton Academy

Nonprofit profile at a glance

EIN
010221344
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
North Bridgton, ME, USA
Phone
2076473322
Rating
84
Verdict
STRONG
Rating confidence
Standard

Official website

Reported finances

Revenue
$10,238,338
Expenses
$12,270,835
Assets
$19,181,757
Liabilities
$5,681,763

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

21 people listed

Executive titles in this filing

  • Vic DiGravio (President Board of Trustees)
  • Aaron Daly (Vice-President Board of Trustees)

Highest reported compensation

  • Diana Gleeson (Head of School): $247,329 total reported compensation
  • Ares Michaelides (Chief Financial Officer): $121,473 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide a program for young men in a unique, one-year postgraduate environment to prepare for the rigors of college and beyond.

What it reported doing in 2024

Bridgton academy is the only school in the united states that exclusively offers a postgraduate year for high school graduates. A typical class will have up to 180 young men from twenty or more states and several foreign countries. Most students take college-level courses for which they may receive transferable college credit. Athletic programs are highly competitive, and many graduates continue their athletic involvement at the collegiate level. All aspects of the bridgton academy experience offer a blend of freedom and structure designed to help its graduates be successful in college and career.

Operating model

Revenue model
Earned-program. 88% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 55% for direct work, and 45% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 92
  • Accountability: 95
  • Sustainability: 31
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.2%; rating input score 91
  • Program expense ratio: 75.8%; rating input score 76
  • Fundraising efficiency: $1.18 raised per $1 spent on fundraising; rating input score 3; 3rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -19.9%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 1.56; rating input score 53; 53rd percentile among comparable filings
  • Liabilities to assets ratio: 0.3; rating input score 47; 47th percentile among comparable filings
  • Officer compensation ratio: 3%; rating input score 68; 68th percentile among comparable filings

Growth

  • Program expense growth: 4.9% per year; rating input score 100; 41st percentile among comparable filings
  • Revenue growth: 2.1% per year; rating input score 100; 19th percentile among comparable filings
  • Asset growth: 3.4% per year; rating input score 100; 25th percentile among comparable filings

Details

  • Where the money goes: 91.2% of revenue deployed · 75.8% of spending went to programs
  • Governance: 19 of 19 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $9.3M in reported program spending
  • Leadership: top reported pay $247K · 21 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 41 of 41 current checks pass
  • Schedules: 11 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 3/100.
  • High — Sustainability: Operating margin scored 5/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 53/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 47/100.