The Trustees and Proprietors of Bacon Academy

Nonprofit profile at a glance

EIN
061293258
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023
Location
Colchester, CT, USA
Phone
8602042104
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$91,504
Expenses
$69,069
Assets
$398,497
Liabilities
$0

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

Leadership & pay

13 people listed

People named in this filing

  • Andrew Norton (Chair)
  • Cathy B Johnson from 1124 (Treasurer)
  • Arthur Liverant (Vice Chair)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

The Trustees and Proprietors of Bacon Academy (the Corporation) is operated exclusively for charitable purposes, for the benefit of the citizens of the Town of Colchester, Connecticut, including the promotion of education and the support of the Bacon Academy, Colchester's high school, lessening the burdens of government, and supporting the preservation of historic buildings.The Corporation operates an educational scholarship and award program (the scholarship and award program) through which the Corporation provides educational scholarship and educational awards to students of Bacon Academy. The scholarship and award program is administered by members of the Corporations Board of Trustees with input from members of Bacon Academys Guidance Department. The scholarship and award program furthers the Corporations charitable purposes by promoting education.

What it reported doing in 2024

Educational Awards and Scholarships - $2,400.Each year, through the scholarship and award program, the Corporation provides various educational awards to students of Bacon Academy, which is Colchester's high school. The seven awards are as follows:1. Bacon Academy Senior Math Award plaque awarded to a senior for excellence in mathematics.2. Otis Prize - Female - Awarded to the senior with the highest grade in social studies.3. Otis Prize - Male - Awarded to the senior with the highest grade in social studies4. Bacon Academy Foreign Language Award - Plaque awarded to a senior who has shown the greatest proficiency in French.5. Bacon Academy Foreign Language Award Plaque awarded to a senior who has shown the greatest proficiency in Spanish/6. Stanley Weich Athletic Prize Female - Plaque awarded for general excellence in athletics.7. Stanley Weich Athletic Prize - Male - Plaque awarded for general excellence in athletics.The five scholarships are as follows:8. Gilbert Lamb Essay - Best senior essay on appreciation of our own community.9. Pierpoint Bacon Memorial Prize awarded to a senior who best exemplifies service to school and community.10. Adam Piekarz Scholarship awarded to a graduate who is a native of Colchester and will pursue an education in Agriculture, Forestry or Mechanical Engineering.11. August Gorreck Memorial Scholarship awarded to a senior who has been accepted to a four-year college and who intends to major in a field of business, aviation, or healthcare.12. Charles H. Blacker Scholarship awarded to a senior who is planning to attend college; selection is based on character, moral and intellectual qualifications, scholastic record, spirit of helpfulness and persistence.

Operating model

Revenue model
Donor-supported. 66% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 93% 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 - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 48
  • Transparency & Controls: 86
  • Accountability: 70
  • Sustainability: 66
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 50.8%; rating input score 51
  • Program expense ratio: 50.8%; rating input score 51
  • Fundraising efficiency: $2.02 raised per $1 spent on fundraising; rating input score 22; 22nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 24th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 24.5%; rating input score 76; 76th percentile among comparable filings
  • Total-asset coverage ratio: 5.77; rating input score 52; 52nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -1.7% per year; rating input score 0; 53rd percentile among comparable filings
  • Asset growth: 0.3% per year; rating input score 100; 42nd percentile among comparable filings

Details

  • Where the money goes: 50.8% of revenue deployed · 50.8% of spending went to programs
  • Governance: 13 of 13 board members independent · 2 of 7 filing controls reported
  • Programs: 5 filed program accomplishments · $35K in reported program spending
  • Leadership: top reported pay $0 · 13 people listed
  • Consistency: 20 of 21 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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 — Financial Efficiency: Mission deployment rate scored 51/100.
  • Review — Financial Efficiency: Program expense ratio scored 51/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 22/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Transparency & Controls: Schedule G fundraiser detail did not reconcile in the filed values.
  • Review — Sustainability: Total-asset coverage ratio scored 52/100.