SUSSEX ACADEMY FOUNDATION INC

EIN: 453820950 501(c)(3) Education

LEWES, DE

Total Revenue
$1,058,747
Total Expenses
$2,188,646
Total Assets
$26,421,386
Net Assets
$14,011,301
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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
2011
Legal Domicile
DE
Principal Officer
JOSEPH M SCHELL
Phone
3022367305
Tax Period
2023-01-01 to 2023-12-31

SUSSEX ACADEMY FOUNDATION INC, founded in 2011, is a community nonprofit in the Education sector that reported $1.1M in total revenue in fiscal year 2023. Revenue fell 65% from the prior year — a significant decline worth monitoring. Expenses of $2.2M exceeded revenue, resulting in a 107% operating deficit.

Mission

THE SUSSEX ACADEMY FOUNDATION IS DEDICATED TO THE ADVANCEMENT OF SUSSEX ACADEMY. THE FOUNDATION IS FOCUSED ON RAISING THE FUNDS TO MAKE MAJOR CAPITAL IMPROVEMENTS TO THE FACILITY, AS HAS EXPANDED TO SERVE BOTH MIDDLE AND HIGH SCHOOL STUDENTS, GRADES 6-12.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $404,589
Program Service Revenue $0
Investment Income $326
Other Revenue $653,832
TOTAL REVENUE $1,058,747

Expense Breakdown

Grants Paid $2,619
Salaries & Benefits $0
Fundraising Expenses $2,322
Program Expenses $2,167,356
Other Expenses $2,183,705
TOTAL EXPENSES $2,188,646

Year-over-Year Comparison

2023 2022 Change
Revenue $1,058,747 $2,988,908 -0.6%
Expenses $2,188,646 $1,360,745 +0.6%
Net Income $-1,129,899 $1,628,163 -1.7%
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

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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
11
Independent Members
11
Employees
N/A
Volunteers
N/A

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
3
$0
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHASE BROCKSTEDT MEMBER 2.00
Director
$0 $0 $0
JILL BURTON TREASURER 2.00
Officer Director
$0 $0 $0
JAY DIAZ MEMBER 2.00
Director
$0 $0 $0
STEVE MONTGOMERY MEMBER 2.00
Director
$0 $0 $0
MICHELE MUNDOK MEMBER 2.00
Director
$0 $0 $0
ASHLEE PARKER MEMBER 2.00
Director
$0 $0 $0
MICHAEL J RAWL MEMBER 2.00
Director
$0 $0 $0
JOSEPH M SCHELL CHAIRMAN 2.00
Officer Director
$0 $0 $0
JENNIFER SCOTT MEMBER 2.00
Director
$0 $0 $0
WILLIAM SCOTT MEMBER 2.00
Director
$0 $0 $0
STACY SHORT SECRETARY 2.00
Officer Director
$0 $0 $0
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
2024 No data No data No data No data
2023 $1,058,747 $2,188,646 $26,421,386 $-1,129,899
2022 $2,988,908 $1,360,745 $27,790,589 $1,628,163
2021 $768,747 $1,335,616 $26,394,751 $-566,869
2020 $900,086 $1,420,969 $27,187,721 $-520,883
2019 $998,659 $1,424,565 $27,961,871 $-425,906
2018 $2,444,174 $1,529,310 $28,461,139 $914,864
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