The Trustees of the Cushing Academy
Nonprofit profile at a glance
- EIN
- 042104048
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Ashburnham, MA, USA
- Phone
- 9788277600
- Rating
- 84
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Secondary, High School
Reported finances
- Revenue
- $38,480,990
- Expenses
- $37,933,823
- Assets
- $252,675,353
- Liabilities
- $37,987,077
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
23 people listed
Highest reported compensation
- RANDY BERTIN (TRUSTEE, HEAD OF SCHOOL): $671,310 total reported compensation
- CATHERINE POLLOCK (ASSOCIATE HEAD OF SCHOOL): $349,460 total reported compensation
- PAUL SILVA (CFOO & TREASURER): $328,797 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Cushing academy, founded as a coeducational boarding school in 1865, exists for students, their academic growth and their personal development. We are dedicated to educating the mind, shaping the character, and nurturing the creativity of young men and women. In a community that is academically and culturally diverse, we challenge each individual, support excellence in every aspect of the learning process, and promote active participation in all areas of life and learning. We offer a demanding college preparatory curriculum, teach skills that build confidence, and instill values that endure. Cushing academy exists for students and develops curious, creative, and confident learners and leaders.
What it reported doing in 2024
Cushing academy offers a rigorous and transformative independent secondary school experience for students in grades 9-12 and post graduates. Cushing academy has 397 students, 368 of whom board and 29 who attend by day.
Operating model
- Revenue model
- Other-operating. 87% of the money available for current operations came from other operating revenue.
- Distribution model
- Direct operator. The filing allocates 85% 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.
- 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: 73
- Transparency & Controls: 91
- Accountability: 96
- Sustainability: 57
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 81.4%; rating input score 81
- Program expense ratio: 81.4%; rating input score 81
- Fundraising efficiency: $1.86 raised per $1 spent on fundraising; rating input score 6; 6th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 5 of 6 controls in place; rating input score 83
- Compensation committee: Pass
- Independent consultant: Pass
- 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: 93.8%; rating input score 94; 27th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- 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: 1.4%; rating input score 40; 40th percentile among comparable filings
- Total-asset coverage ratio: 6.66; rating input score 88; 88th percentile among comparable filings
- Liabilities to assets ratio: 0.15; rating input score 65; 65th percentile among comparable filings
- Officer compensation ratio: 6%; rating input score 42; 42nd percentile among comparable filings
Growth
- Program expense growth: 3.1% per year; rating input score 100; 27th percentile among comparable filings
- Revenue growth: 2.1% per year; rating input score 100; 18th percentile among comparable filings
- Asset growth: 8.3% per year; rating input score 100; 56th percentile among comparable filings
Details
- Where the money goes: 81.4% of revenue deployed · 81.4% of spending went to programs
- Governance: 15 of 16 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $30.9M in reported program spending
- Leadership: top reported pay $671K · 23 people listed · 5 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $9.6M reported
- Consistency: 40 of 40 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: 8 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Financial Efficiency: Fundraising efficiency scored 6/100.
- Moderate — Sustainability: Operating margin scored 40/100.
- Moderate — Sustainability: Officer compensation ratio scored 42/100.