BERWICK ACADEMY (EIN 010223755) - 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

1791

Legal Domicile

Principal Officer

LYNDA M CASARELLA

Phone

2073842164

Tax Period

2024-07-01 to 2025-06-30

BERWICK ACADEMY is a 501(c)(3) with EIN 010223755, based in SOUTH BERWICK, ME. Founded in 1791, the organization files IRS Form 990 and reported its most recent data for fiscal year 2024. In that period, it reported $26,785,750 in total revenue and $27,985,157 in total expenses, with net assets of $47,833,895.

Mission

BERWICK ACADEMY, FOUNDED IN 1791, IS DEDICATED TO PROMOTING VIRTUE AND USEFUL KNOWLEDGE AMONG THE RISING GENERATIONS.

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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 $1,161,149

Program Service Revenue $23,986,115

Investment Income $1,519,824

Other Revenue $118,662

TOTAL REVENUE $26,785,750

Expense Breakdown

Grants Paid $7,500,922

Salaries & Benefits $13,401,240

Fundraising Expenses $813,907

Program Expenses $23,693,706

Other Expenses $7,082,995

TOTAL EXPENSES $27,985,157

Year-over-Year Comparison

	2024	2023	Change
Revenue	$26,785,750	$26,483,792	+0.0%
Expenses	$27,985,157	$27,110,365	+0.0%
Net Income	$-1,199,407	$-626,573	+0.9%

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

257

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

$659,343

Total Directors

$434,915

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BARBARA O'CONNOR	PRESIDENT	1.00	Officer Director	$0	$0	$0
PAULA WILLIAMSON-REID	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
JAMES LAWSON	TREASURER	1.00	Officer Director	$0	$0	$0
JASON KROLL	SECRETARY	1.00	Officer Director	$0	$0	$0
CHRISTOPHER BENECCHI	TRUSTEE	1.00	Director	$0	$0	$0
KEVIN BREEN	TRUSTEE	1.00	Director	$0	$0	$0
TIMOTHY BURR	TRUSTEE	1.00	Director	$0	$0	$0
MARY ERVIN	TRUSTEE	1.00	Director	$0	$0	$0
CATHERINE L POWELL	TRUSTEE	1.00	Director	$0	$0	$0
LAURA HARRIS	TRUSTEE	1.00	Director	$0	$0	$0
KELLY MCGOWAN	TRUSTEE	1.00	Director	$0	$0	$0
SETH KASSELS	TRUSTEE	1.00	Director	$0	$0	$0
DR VIRGINIA OSBORN	TRUSTEE	1.00	Director	$0	$0	$0
KATIE WATTS	TRUSTEE	1.00	Director	$0	$0	$0
JERMAINE MOORE	TRUSTEE	1.00	Director	$0	$0	$0
CLARE O'BRIEN	TRUSTEE	1.00	Director	$0	$0	$0
NICOLE OUTSEN	TRUSTEE	1.00	Director	$0	$0	$0
JAMES HAMILTON	HEAD OF SCHOOL THRU 6/30/25	50.00	Officer Director	$349,760	$85,155	$434,915
KARTIK SAKTHIVEL	TRUSTEE	1.00	Director	$0	$0	$0
KELLY ARP	TRUSTEE	1.00	Director	$0	$0	$0
ANYA BURZYNSKI	TRUSTEE	1.00	Director	$0	$0	$0
JONATHAN DOUGLAS	CFO THRU 6/30/24	40.00	Officer	$121,493	$25,404	$146,897
EDWARD TITTMANN	CFO STARTING 9/1/24	40.00	Officer	$73,685	$3,846	$77,531
RYAN FEELEY	ASSISTANT HEAD OF SCHOOL-INTERNAL	40.00	Highest	$190,289	$64,246	$254,535
AMY SMUCKER	ASSISTANT HEAD OF SCHOOL-EXTERNAL	40.00	Highest	$175,595	$40,976	$216,571
MARY JO CARABATSOS	DIRECTOR OF UPPER SCHOOL	40.00	Highest	$141,888	$8,533	$150,421
JOEL HAWES	DIRECTOR OF LOWER SCHOOL	40.00	Highest	$138,229	$14,542	$152,771
MICHAEL BUENSUCESO	ASSISTANT HEAD OF SCHOOL FOR DEI	40.00	Highest	$128,466	$63,607	$192,073

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	$26,785,750	$27,985,157	$61,131,453	$-1,199,407
2024	$26,483,792	$27,110,365	$58,625,224	$-626,573
2023	$26,057,137	$26,445,734	$57,717,354	$-388,597
2022	$29,641,493	$24,447,114	$55,863,160	$5,194,379
2021	$28,954,341	$23,762,102	$57,917,930	$5,192,239
2020	$23,617,511	$22,950,753	$48,765,722	$666,758
2019	$24,203,565	$23,012,157	$46,078,864	$1,191,408
2018	$22,342,412	$22,575,409	$43,342,437	$-232,997

BERWICK ACADEMY