Foxcroft Academy Trustees Of
Nonprofit profile at a glance
- EIN
- 010246278
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024, Form 990-T 2024, Form 990-N 2019
- Location
- Doverfoxcroft, ME, USA
- Phone
- 2075648351
- Rating
- 78
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Primary, Elementary Schools
Reported finances
- Revenue
- $11,838,041
- Expenses
- $12,151,212
- Assets
- $30,210,268
- Liabilities
- $15,796,419
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
20 people listed
Executive titles in this filing
- ETHAN L ANNIS (PRESIDENT)
- DR HILLARY CARUSO (VICE PRESIDENT)
Highest reported compensation
- ARNOLD SHOREY (HEAD OF SCHOOL): $259,003 total reported compensation
- DANIEL N WHITE (CFO): $209,543 total reported compensation
- JASON I TARDY (ADMISSIONS DIRECTOR): $135,794 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Foxcroft academy is an independent high school founded in 1823 on the principle that knowledge is power. Foxcroft academy is committed to providing students from central Maine and beyond a rigorous college and career preparatory academic curriculum designed to produce informed and active global citizens. Foxcroft academy will furnish all students with the underlying skills needed for post-secondary success while embracing its safe community and natural environment.
What it reported doing in 2024
The trustees of foxcroft academy operate a private secondary school which contracts to provide comprehensive secondary education to all students in rural school unit (rsu) #68, other local communities with no secondary school and some private individuals, including boarding students. Co-curricular programs form an integral part of that education.
Operating model
- Revenue model
- Earned-program. 90% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 86% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 73
- Transparency & Controls: 83
- Accountability: 86
- Sustainability: 40
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 71.2%; rating input score 71
- Program expense ratio: 71.9%; rating input score 72
- Fundraising efficiency: $88.45 raised per $1 spent on fundraising; rating input score 83; 83rd percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Pass
- Written employment contract: Missing
- 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: 94.1%; rating input score 94; 27th percentile among comparable filings
- Governance controls: 6 of 8 controls in place; rating input score 75
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -2.6%; rating input score 22; 22nd percentile among comparable filings
- Total-asset coverage ratio: 2.49; rating input score 69; 69th percentile among comparable filings
- Liabilities to assets ratio: 0.52; rating input score 27; 27th percentile among comparable filings
- Officer compensation ratio: 5%; rating input score 51; 51st percentile among comparable filings
Growth
- Program expense growth: 3.3% per year; rating input score 100; 28th percentile among comparable filings
- Revenue growth: 3.1% per year; rating input score 100; 26th percentile among comparable filings
- Asset growth: 1.5% per year; rating input score 100; 15th percentile among comparable filings
Details
- Where the money goes: 71.2% of revenue deployed · 71.9% of spending went to programs
- Governance: 16 of 17 board members independent · 6 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $8.7M in reported program spending
- Leadership: top reported pay $259K · 20 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $809K reported
- Consistency: 31 of 31 current checks pass
- Schedules: 8 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
- 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.
- Review — Accountability: Governance controls: 2 of 8 not reported.
- High — Sustainability: Operating margin scored 22/100.
- High — Sustainability: Liabilities to assets ratio scored 27/100.
- Review — Sustainability: Officer compensation ratio scored 51/100.