FOXCROFT ACADEMY TRUSTEES OF

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1823

Legal Domicile

Principal Officer

ETHAN ANNIS

Phone

2075648351

Tax Period

2024-07-01 to 2025-06-30

FOXCROFT ACADEMY TRUSTEES OF, founded in 1823, is a mid-sized nonprofit in the Education sector that reported $11.8M in total revenue in fiscal year 2024.

Mission

FOXCROFT ACADEMY IS AN INDEPENDENT HIGH SCHOOL FOUNDED IN 1823 ON THE PRINCIPLE THAT KNOWLEDGE IS POWER. FOXCROFT ACADEMY IS COMMITTED TO PROVIDING STUDENTS FROM CENTRAL MAINE AND BEYOND A RIGOROUS COLLEGE AND CAREER PREPARATORY ACADEMIC CURRICULUM DESIGNED TO PRODUCE INFORMED AND ACTIVE GLOBAL CITIZENS. FOXCROFT ACADEMY WILL FURNISH ALL STUDENTS WITH THE UNDERLYING SKILLS NEEDED FOR POST-SECONDARY SUCCESS WHILE EMBRACING ITS SAFE COMMUNITY AND NATURAL ENVIRONMENT.

Program Service Accomplishments

Program 1

Expenses: $8,731,437 Revenue: $11,212,038

THE TRUSTEES OF FOXCROFT ACADEMY OPERATE A PRIVATE SECONDARY SCHOOL WHICH CONTRACTS TO PROVIDE COMPREHENSIVE SECONDARY EDUCATION TO ALL STUDENTS IN RURAL SCHOOL UNIT (RSU) #68, OTHER LOCAL...

THE TRUSTEES OF FOXCROFT ACADEMY OPERATE A PRIVATE SECONDARY SCHOOL WHICH CONTRACTS TO PROVIDE COMPREHENSIVE SECONDARY EDUCATION TO ALL STUDENTS IN RURAL SCHOOL UNIT (RSU) #68, OTHER LOCAL COMMUNITIES WITH NO SECONDARY SCHOOL AND SOME PRIVATE INDIVIDUALS, INCLUDING BOARDING STUDENTS. CO-CURRICULAR PROGRAMS FORM AN INTEGRAL PART OF THAT EDUCATION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $430,769

Program Service Revenue $10,828,997

Investment Income $62,614

Other Revenue $515,661

TOTAL REVENUE $11,838,041

Expense Breakdown

Grants Paid $1,203,207

Salaries & Benefits $5,923,945

Fundraising Expenses $4,870

Program Expenses $8,731,437

Other Expenses $5,024,060

TOTAL EXPENSES $12,151,212

Year-over-Year Comparison

	2024	2023	Change
Revenue	$11,838,041	$11,282,594	+0.0%
Expenses	$12,151,212	$12,515,774	0.0%
Net Income	$-313,171	$-1,233,180	-0.7%

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

152

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

$468,546

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KELLY DENNIS	TRUSTEE	1.00	Director	$0	$0	$0
THOMAS LIZOTTE	SECRETARY	1.00	Officer Director	$0	$0	$0
HEIDI WALKER	TRUSTEE	1.00	Director	$0	$0	$0
ASHLEY BUTTICE	TRUSTEE	1.00	Director	$0	$0	$0
NORMAN HIGGINS	TRUSTEE	1.00	Director	$0	$0	$0
THOMAS ALLEN	TRUSTEE	1.00	Director	$0	$0	$0
JUDITH A DOW	TRUSTEE	1.00	Director	$0	$0	$0
JASON W FREDERICK	TREASURER	1.00	Officer Director	$0	$0	$0
KAREN POMEROY	TRUSTEE	1.00	Director	$0	$0	$0
DAVAN WALKER	TRUSTEE	1.00	Director	$0	$0	$0
GERALD TREY MERRILL III	TRUSTEE	1.00	Director	$0	$0	$0
DAVID A POULIN	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL DOORE	TRUSTEE	1.00	Director	$0	$0	$0
ETHAN L ANNIS	PRESIDENT	1.00	Officer Director	$0	$0	$0
DAN WANG	TRUSTEE	1.00	Director	$0	$0	$0
STACY STITHAM	TRUSTEE	1.00	Director	$0	$0	$0
DR HILLARY CARUSO	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
ARNOLD SHOREY	HEAD OF SCHOOL	40.00	Officer	$219,250	$39,753	$259,003
DANIEL N WHITE	CFO	40.00	Officer	$154,802	$54,741	$209,543
JASON I TARDY	ADMISSIONS DIRECTOR	40.00	Highest	$106,545	$29,249	$135,794

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	$11,838,041	$12,151,212	$30,210,268	$-313,171
2024	$11,282,594	$12,515,774	$29,734,366	$-1,233,180
2023	$12,891,112	$12,215,948	$31,517,500	$675,164
2022	$11,053,374	$11,295,783	$30,062,383	$-242,409
2021	$10,035,137	$10,205,712	$30,930,930	$-170,575
2020	$9,587,301	$10,567,796	$28,332,163	$-980,495
2019	$13,292,978	$10,652,642	$29,177,325	$2,640,336
2018	$10,086,951	$10,057,511	$27,181,891	$29,440