Overview
What is Sussex Academy Foundation Inc?
Sussex Academy Foundation Inc is a nonprofit organization based in Lewes, Delaware. Their primary focus is on supporting Sussex Academy, a school for students from grades K-12. The foundation raises funds to make significant capital improvements to the school's facility, as it has expanded to cater to both middle and high school students. Additionally, they provide scholarships to assist some of the school's students financially. The foundation's mission is deeply rooted in the betterment of Sussex Academy, ensuring it continues to offer quality education to its student body.
Official website here: www.sussexacademyfoundation.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 85% (Three-Star out of Four Stars)
The Sussex Academy Foundation Inc has earned an 85% rating from Charity Navigator, which reflects a solid level of accountability and financial health. The organization showcases significant strengths in governance, with a fully independent board and strong oversight measures in place. Their financial statements are well-audited and transparent, indicating a commitment to responsible management of resources.
However, the organization has notable weaknesses as well, particularly in its fundraising efficiency, where it received a score of 0 out of 25. This suggests challenges in generating funds relative to expenses, which could impact the foundation's ability to sustain its programs long-term. Despite this, the overall financial ratios, including a strong program expense ratio and working capital ratio, suggest that the foundation maintains a stable financial footing.
In conclusion, while the Sussex Academy Foundation Inc demonstrates commendable governance and financial practices, it will need to address its fundraising strategies to improve its overall effectiveness. Stakeholders may want to consider this aspect while evaluating their support for the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Sussex Academy Foundation Inc legitimate?
Sussex Academy Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Sussex Academy Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $2,322
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.sussexacademyfoundation.com
What is the mission statement of Sussex Academy Foundation Inc?
The Sussex Academy Foundation is committed to advancing the Sussex Academy, a learning institution that caters to students from middle to high school, grades 6-12. Their primary focus is to raise funds for significant capital improvements to the facility, as its expansion necessitates such investments. The foundation's mission is centered around enhancing the educational environment and resources for the students, ensuring they receive the best possible educational experience. Additionally, the foundation has provided scholarships to several Sussex Academy students and supported various related expenses to further enrich their educational journey.
Official website here: www.sussexacademyfoundation.com
What is the revenue of Sussex Academy Foundation Inc?
Sussex Academy Foundation Inc's revenue in 2023 was $1,058,747.
Official website here: www.sussexacademyfoundation.com
Who are the executives of Sussex Academy Foundation Inc and what are their salaries?
Here are 11 key members and their salaries:
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Official website here: www.sussexacademyfoundation.com
Where can I find the form 990 for Sussex Academy Foundation Inc?
Sussex Academy Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.sussexacademyfoundation.com
Learn more at the official website: www.sussexacademyfoundation.com
Mission Statement of Sussex Academy Foundation Inc
Sussex Academy Foundation is committed to enhancing the Sussex Academy, a learning institution that caters to students from grades 6 to 12. The foundation's primary objective is to raise funds for significant capital improvements to the facility, as the academy has expanded its services to accommodate both middle and high school students. The funds raised by the foundation have been instrumental in upgrading the facility, ensuring it remains conducive to the learning needs of its students. Apart from capital improvements, the foundation has also supported various related expenses to further enrich the students' educational journey.
Beyond capital improvements, Sussex Academy Foundation has also extended its support to the students through scholarships. Recognizing the financial challenges some students may face, the foundation has provided scholarships to numerous Sussex Academy students. This financial assistance has not only alleviated some of the financial burden but also allowed deserving students to continue their education without interruption. By providing scholarships, the foundation has demonstrated its commitment to ensuring that every student has an equal opportunity to access quality education, regardless of their financial situation.
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Impact
July, 2024
Sussex Academy Foundation Inc has significantly impacted the advancement of Sussex Academy by raising funds for major capital improvements to the facility. This has allowed the school to expand its services to cater to both middle and high school students, from grades 6 to 12. In addition to facility enhancements, the foundation has supported students through scholarships and other related expenses, contributing to the overall development and success of Sussex Academy. The foundation's dedication to education, evident in its mission to raise funds for school improvements and student support, highlights its crucial role in enhancing the educational experience for students in Lewes, DE.
This information is meant to be a general summary of Sussex Academy Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $326
- Gross Receipts: $1,058,747
Assets and Liabilities:
- Total Assets: $27,790,589
- Total Liabilities: $12,649,389
- Net Assets: $15,141,200
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Organization Details
Founding Year
2011
Principal Officer
Joseph M Schell
NTEE Category
Code: B11 - Education
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