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:

Year founded: 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

Transparency grade

D

To understand our transparency grade, click here.


Financial efficiency ratings

Sector: K-12 Schools/Academies

CategoryRatingOverall rankSector rank
Overall efficiency rating571 of 94020 of 30
Fund acquisition rating616 of 94224 of 30
Resource allocation rating466 of 94213 of 30
Asset utilization rating489 of 94018 of 30

Financial ratios

Funding ratiosSector median20202019201820172016
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
18%36%41%28%32%24%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
3%4%3%3%3%3%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
12%10%8%11%9%12%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
3%4%3%3%3%3%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
88%90%92%89%91%88%
 
Operating ratiosSector median20202019201820172016
Program expense ratio Program expense ratio =
Program services /
Total expenses
82%83%85%85%83%83%
Spending ratio Spending ratio =
Total expenses /
Total revenue
96%97%100%97%98%100%
Program output ratio Program output ratio =
Program services /
Total revenue
79%81%84%82%81%83%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
4%3%0%3%2%0%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
2%1%0%1%1%0%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
14%13%12%12%14%14%
 
Investing ratiosSector median20202019201820172016
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.380.280.290.280.300.32
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
3.231.611.661.681.873.33
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.340.450.490.480.561.07
 
Liquidity ratiosSector median20202019201820172016
Current ratio Current ratio =
Total current assets /
Total current liabilities
3.1013.5010.149.468.373.60
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.320.070.100.110.120.28
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
4.0624.8522.2022.4918.848.09
 
Solvency ratiosSector median20202019201820172016
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
30%13%15%19%31%32%
Debt ratio Debt ratio =
Debt /
Total assets
13%9%9%10%11%6%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
163%312%289%284%231%212%

Financials

Balance sheet
 
Assets20202019201820172016
Cash$4,514,449$2,996,453$4,486,583$4,687,079$10,768,754
Receivables, inventories, prepaids$1,050,955$506,861$608,635$647,029$676,177
Short-term investments$62,453,290$61,870,943$58,489,081$49,186,579$16,275,874
Other current assets$0$0$0$0$0
Total current assets$68,018,694$65,374,257$63,584,299$54,520,687$27,720,805
Long-term investments$209,336$621,209$946,341$4,170,478$22,303,190
Fixed assets$41,508,672$42,746,020$42,093,560$43,216,144$42,199,966
Other long-term assets$4,653$1,221$3,780$5,940$102,428
Total long-term assets$41,722,661$43,368,450$43,043,681$47,392,562$64,605,584
Total assets$109,741,355$108,742,707$106,627,980$101,913,249$92,326,389
 
Liabilities20202019201820172016
Payables and accrued expenses$1,803,204$2,106,702$1,946,857$1,831,278$3,071,013
Other current liabilities$3,233,444$4,338,586$4,777,519$4,684,476$4,626,472
Total current liabilities$5,036,648$6,445,288$6,724,376$6,515,754$7,697,485
Debt$9,714,003$10,097,793$10,473,613$10,840,335$5,525,884
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$0$0$3,378,363$13,901,534$16,149,208
Total long-term liabilities$9,714,003$10,097,793$13,851,976$24,741,869$21,675,092
Total liabilities$14,750,651$16,543,081$20,576,352$31,257,623$29,372,577
 
Net assets20202019201820172016
Without donor restrictions$90,373,637$89,054,994$83,186,576$68,026,007$60,597,715
With donor restrictions$4,617,067$3,144,632$2,865,052$2,629,619$2,356,097
Net assets$94,990,704$92,199,626$86,051,628$70,655,626$62,953,812
 
Revenues and expenses
 
Revenue20202019201820172016
Total contributions$3,047,511$2,628,916$3,414,420$2,926,096$3,443,757
Program service revenue$26,681,954$27,271,388$26,343,144$25,832,265$24,846,297
Membership dues$0$0$0$0$0
Investment income$1,576,679$1,514,138$1,240,395$2,102,490$892,341
Other revenue$164,327$559,482$303,546$404,976$638,892
Total other revenue$28,422,960$29,345,008$27,887,085$28,339,731$26,377,530
Total revenue$31,470,471$31,973,924$31,301,505$31,265,827$29,821,287
 
Expenses20202019201820172016
Program services$25,347,317$26,926,779$25,643,288$25,421,914$24,606,597
Management and general$3,960,987$3,840,034$3,730,414$4,234,119$4,263,691
Fundraising$1,108,509$1,089,941$968,249$922,436$841,162
Total expenses$30,416,813$31,856,754$30,341,951$30,578,469$29,711,450
 
Change in net assets20202019201820172016
Surplus (deficit)$1,053,658$117,170$959,554$687,358$109,837
Other changes in net assets$0$0$0$0$0
Total change in net assets$1,053,658$117,170$959,554$687,358$109,837

Compensation

NameTitleCompensation
Andrea KellyHead of School$547,356
Ann Marie TidonaDirector of Finance$334,481
Mark SchoeffelUpper School Principal$290,387
Jenifer HallidayAssistant Head of School$289,413
Ron BaskindDean of Students$241,409
Nina WaechterDirector of Admission$223,287
Kevin BarryDirector of Advancement$207,281

Compensation data as of: 6/30/2020


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


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