Fryeburg Academy (EIN 010211505) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1792

Legal Domicile

Principal Officer

Christopher M Gordon

Phone

2079352001

Tax Period

2024-07-01 to 2025-06-30

Fryeburg Academy is a 501(c)(3) with EIN 010211505, based in Fryeburg, ME. Founded in 1792, the organization files IRS Form 990 and reported its most recent data for fiscal year 2024. In that period, it reported $27,364,576 in total revenue and $24,669,991 in total expenses, with net assets of $74,122,565.

Mission

Independent secondary school that serves a widely diverse population of students.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $2,594,266

Program Service Revenue $21,434,812

Investment Income $3,329,898

Other Revenue $5,600

TOTAL REVENUE $27,364,576

Expense Breakdown

Grants Paid $5,648,004

Salaries & Benefits $11,603,793

Fundraising Expenses $433,850

Program Expenses $19,950,264

Other Expenses $7,418,194

TOTAL EXPENSES $24,669,991

Year-over-Year Comparison

	2024	2023	Change
Revenue	$27,364,576	$23,433,031	+0.2%
Expenses	$24,669,991	$22,663,894	+0.1%
Net Income	$2,694,585	$769,137	+2.5%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✓ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

263

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✗ Operated Donor Advised Fund

✓ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$367,858

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Christopher Burk	Trustee	5.00	Director	$0	$0	$0
John Chandler	Trustee	5.00	Director	$0	$0	$0
Kendell Clark	Trustee	5.00	Director	$0	$0	$0
Steven P Cote	Trustee	5.00	Director	$0	$0	$0
Sheila Duane	Trustee	5.00	Director	$0	$0	$0
Gerry Durgin	Trustee	5.00	Director	$0	$0	$0
Heather P Hart	Trustee	5.00	Director	$0	$0	$0
Kathleen Dekutoski Hunsicker	Trustee	5.00	Director	$0	$0	$0
Bradford Littlefield	Trustee	5.00	Director	$0	$0	$0
Gary MacFarlane	Trustee	5.00	Director	$0	$0	$0
Shannon McKeen	Trustee	5.00	Director	$0	$0	$0
Andrea Smith Osgood	Trustee	5.00	Director	$0	$0	$0
Mary Poyner	Trustee	5.00	Director	$0	$0	$0
Jessica Russell	Trustee	5.00	Director	$0	$0	$0
Nicola Soares	Trustee	5.00	Director	$0	$0	$0
Renee Thomas	Trustee	5.00	Director	$0	$0	$0
Christopher M Gordon	President	5.00	Officer Director	$0	$0	$0
Michael H Hill	Vice President	5.00	Officer Director	$0	$0	$0
Joseph Shaffner	Treasurer	5.00	Officer Director	$0	$0	$0
Brenda Thibodeau	Secretary	5.00	Officer Director	$0	$0	$0
Joseph R Manning	Head of School	40.00	Officer	$295,800	$72,058	$367,858
David Kenney	Dean of Campus Life	40.00	Highest	$118,500	$28,133	$146,633
Barbara Mazzeo	Finance Director	40.00	Highest	$124,500	$28,325	$152,825

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$27,364,576	$24,669,991	$83,803,444	$2,694,585
2024	$23,433,031	$22,663,894	$78,759,256	$769,137
2023	$21,265,735	$21,224,969	$75,166,489	$40,766
2022	$18,553,432	$17,195,283	$74,039,364	$1,358,149
2021	$20,722,502	$14,856,229	$79,323,577	$5,866,273
2020	$15,313,840	$14,775,359	$69,957,760	$538,481
2019	$16,253,230	$14,032,534	$69,093,451	$2,220,696
2018	$26,040,368	$14,441,909	$66,840,833	$11,598,459

Fryeburg Academy