THE TRUSTEES OF THE CUSHING ACADEMY

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1865

Legal Domicile

Principal Officer

JOSEPH MARZILLI

Phone

9788277600

Tax Period

2022-07-01 to 2023-06-30

THE TRUSTEES OF THE CUSHING ACADEMY, founded in 1865, is a mid-sized nonprofit in the Education sector that reported $35.4M in total revenue in fiscal year 2022. Revenue fell 36% from the prior year — a significant decline worth monitoring. Expenses of $33.1M left a modest 6% surplus.

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.

Program Service Accomplishments

Program 1

Expenses: $26,472,139 Revenue: $31,588,034

CUSHING ACADEMY OFFERS A RIGOROUS AND TRANSFORMATIVE INDEPENDENT SECONDARY SCHOOL EXPERIENCE FOR STUDENTS IN GRADES 9-12 AND POST GRADUATES. CUSHING ACADEMY HAS 385 STUDENTS, 357 OF WHOM BOARD AND 28...

🔒

Trantor Score

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

Sign in to view Trantor Score and financial metrics

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

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $3,069,885

Program Service Revenue $31,588,225

Investment Income $374,188

Other Revenue $412,802

TOTAL REVENUE $35,445,100

Expense Breakdown

Grants Paid $5,552,113

Salaries & Benefits $13,461,654

Fundraising Expenses $1,497,182

Program Expenses $26,472,139

Other Expenses $14,131,737

TOTAL EXPENSES $33,145,504

Year-over-Year Comparison

	2022	2021	Change
Revenue	$35,445,100	$55,161,212	-0.4%
Expenses	$33,145,504	$32,127,639	+0.0%
Net Income	$2,299,596	$23,033,573	-0.9%

Key Indicators

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

🔒

Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Governance

Voting Members

Independent Members

Employees

224

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

$963,615

Total Directors

$662,606

Key Employees

$302,707

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RANDY BERTIN	TRUSTEE, HEAD OF SCHOOL	50.00	Officer Director	$535,633	$126,973	$662,606
M ELIZABETH AKERS	TRUSTEE	2.00	Director	$0	$0	$0
DANA BARNES	TRUSTEE	2.00	Director	$0	$0	$0
SPENCER BUTTERFIELD	TRUSTEE (AS OF 5/5/23)	2.00	Director	$0	$0	$0
KEN CHUNG	TRUSTEE	2.00	Director	$0	$0	$0
DOUGLAS CRAMER	TRUSTEE	2.00	Director	$0	$0	$0
RICHARD LAPIDUS	TRUSTEE	2.00	Director	$0	$0	$0
KRISTINE PELLETIER	TRUSTEE	2.00	Director	$0	$0	$0
KIMBERLY SAMSON	TRUSTEE	2.00	Director	$0	$0	$0
MATT SIEGAL	TRUSTEE	2.00	Director	$0	$0	$0
GEORGE THOMAS	TRUSTEE (AS OF 5/5/23)	2.00	Director	$0	$0	$0
JOSEPH MARZILLI	PRESIDENT & TREASURER	2.00	Officer Director	$0	$0	$0
MELISSA IRVING CHRISTENSEN	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
PAUL SILVA	CFO	50.00	Officer	$271,867	$29,142	$301,009
CATHERINE POLLOCK	ASSOCIATE HEAD OF SCHOOL	50.00	Key Emp	$224,361	$78,346	$302,707
GREGORY POLLARD	DIRECTOR OF ADVANCEMENT	40.00	Highest	$165,287	$57,560	$222,847
EDWARD KIRK	DIRECTOR MASTER PLANNING/ENGINEERING	40.00	Highest	$157,029	$38,457	$195,486
DAVID STONE	DEAN OF FACULTY	40.00	Highest	$129,687	$14,586	$144,273
PAUL PEARL	ADVANCEMENT OFFICER	40.00	Highest	$122,593	$26,983	$149,576
SARAH CATLIN	DIRECTOR OF STUDENT AFFAIRS	40.00	Highest	$118,087	$13,296	$131,383

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	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$35,445,100	$33,145,504	$237,291,058	$2,299,596
2022	$55,161,212	$32,127,639	$228,695,316	$23,033,573
2021	$29,223,028	$29,143,479	$208,929,433	$79,549
2020	$36,631,164	$32,031,668	$200,657,323	$4,599,496
2019	$62,286,394	$31,016,873	$193,931,346	$31,269,521
2018	$28,690,633	$29,351,910	$164,335,375	$-661,277