HARGRAVE MILITARY ACADEMY

EIN: 540584800 501(c)(3) Education

CHATHAM, VA

Total Revenue
$13,874,432
Total Expenses
$13,161,543
Total Assets
$24,920,007
Net Assets
$21,480,694
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
1909
Legal Domicile
VA
Principal Officer
WILLIAM RIDDLE
Phone
4344322481
Tax Period
2024-06-01 to 2025-05-31

HARGRAVE MILITARY ACADEMY, founded in 1909, is a community nonprofit in the Education sector that reported $9.2M in total revenue in fiscal year 2018. Revenue decreased 15% compared to the prior year. Net assets of $20.2M represent 26 months of operating reserves.

Mission

PRIVATE SCHOOL

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Trantor Score

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $5,920,274
Program Service Revenue $7,423,434
Investment Income $667,330
Other Revenue $-136,606
TOTAL REVENUE $13,874,432

Expense Breakdown

Grants Paid $2,518,373
Salaries & Benefits $5,013,068
Fundraising Expenses $298,587
Program Expenses $9,663,782
Other Expenses $5,630,102
TOTAL EXPENSES $13,161,543

Year-over-Year Comparison

2024 2023 Change
Revenue $13,874,432 $11,120,170 +0.2%
Expenses $13,161,543 $12,289,614 +0.1%
Net Income $712,889 $-1,169,444 -1.6%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
18
Independent Members
18
Employees
149
Volunteers
7

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
5
$342,778
Total Directors
17
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ERIC PETERSON PRESIDENT 40.00
Officer
$253,144 $0 $253,144
WILLIAM RIDDLE DIRECTOR OF 40.00
Officer
$89,634 $0 $89,634
RANDOLPH A BEALES TRUSTEE 2.00
Director
$0 $0 $0
MIKE BECK VICE CHAIRMA 5.00
Officer Director
$0 $0 $0
HAYAKO O COOK TRUSTEE 2.00
Director
$0 $0 $0
JESSICA S DALTON TRUSTEE 2.00
Director
$0 $0 $0
BEN J DAVENPORT TRUSTEE 5.00
Director
$0 $0 $0
JAMES E ENGLISH TRUSTEE 2.00
Director
$0 $0 $0
FIN GADDY TRUSTEE 2.00
Director
$0 $0 $0
A W HAMILTON TRUSTEE 2.00
Director
$0 $0 $0
CARL PROCTOR DEAN II SECRETARY 5.00
Officer Director
$0 $0 $0
LEWIS E WALL JR TRUSTEE 2.00
Director
$0 $0 $0
R J LACKEY TRUSTEE 2.00
Director
$0 $0 $0
DAVID MILLER TRUSTEE 2.00
Director
$0 $0 $0
KEITH MORGAN TRUSTEE 5.00
Director
$0 $0 $0
THOMAS NICHOLS TRUSTEE 2.00
Director
$0 $0 $0
JOHN O'BANNON TRUSTEE 2.00
Director
$0 $0 $0
CYNTHIA REID TRUSTEE 2.00
Director
$0 $0 $0
KEVIN SMITH TRUSTEE 2.00
Director
$0 $0 $0
SLOAN GIBSON CHAIRMAN 10.00
Officer
$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
2025 $13,874,432 $13,161,543 $24,920,007 $712,889
2024 $11,120,170 $12,289,614 $22,869,227 $-1,169,444
2023 $8,490,959 $11,176,617 $23,889,402 $-2,685,658
2022 $9,809,974 $10,300,698 $25,588,986 $-490,724
2021 $8,329,055 $8,888,013 $25,872,529 $-558,958
2020 $14,479,754 $8,994,676 $26,521,935 $5,485,078
2019 $9,164,695 $8,960,223 $21,177,854 $204,472
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