Worcester Academy
84% goes to programs $28 to raise $100 Strong reserves Growing revenue
Worcester Academy is a 501(c)(3) organization based in Worcester, Massachusetts, registered in 1935, with $36,715,667 in FY2023 revenue. CharityIndex grades it A, and it directs about 84% of spending to programs.
81 Providence St, Worcester, MA, 01604 EIN 04-2105855 Since 1935
Revenue (FY2023)
$36.7M
▲ 6.2% vs prior year
Education median: $200K
Expenses (FY2023)
$33.1M
Net assets
$138.2M
Employees
260
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
AProgram efficiency40% of the rating84% to programs · $28 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Worcester Academy: 84% to programs · $28 to raise $100 earns a A on this criterion. See the exact thresholds →
AFinancial health25% of the rating50 mo reserves · +10% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Worcester Academy: 50 mo reserves · +10% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Worcester Academy: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Worcester Academy: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
Operation of an independent college preparatory school for students in grades 6 - 12 and postgraduates dedicated to promoting self-development and education.
What they do
Summer programs benefiting students ages 7 - 14.
Contact & location
- Address
- 81 Providence St, Worcester, MA, 01604
- City
- Worcester
- State
- Massachusetts
- Category
- Education
- Subcategory
- Elementary & Secondary Schools
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $28.5M (FY2013) to $36.7M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $21.2MNet assets $138.2M
Operating margin
9.8%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$159.4M
Total liabilities
$21.2M
Net assets
$138.2M
Salaries & benefits
$14.0M
42% of expenses
Board members
23
23 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $36,715,667▲6.2% | $33,119,852▲3.2% | $138,182,928▲6.3% | $159,374,601▲6.5% | 990 |
| 2022 | $34,587,965▼51.5% | $32,083,898▼0.8% | $129,957,464▲4.8% | $149,640,223▲3.6% | 990 |
| 2021 | $71,283,222▲137% | $32,353,683▲3.6% | $123,992,156▲26.3% | $144,370,971▲18.5% | 990 |
| 2020 | $30,022,634▼3.6% | $31,235,426▼1.2% | $98,210,728▲14.7% | $121,807,023▲11.1% | 990 |
| 2019 | $31,140,946▼13.1% | $31,611,678▼0.4% | $85,609,552▼1.3% | $109,627,128▼0.1% | 990 |
| 2018 | $35,817,730▲15.0% | $31,739,303▲1.9% | $86,742,733▲5.5% | $109,749,508▲4.1% | 990 |
| 2017 | $31,145,696▲10.5% | $31,132,557▲4.2% | $82,225,662▲1.3% | $105,465,505▲0.6% | 990 |
| 2016 | $28,185,024▼2.4% | $29,888,843▼1.0% | $81,173,997▲2.6% | $104,839,298▲1.6% | 990 |
| 2015 | $28,867,730▼6.9% | $30,184,001▼0.5% | $79,120,062▼5.4% | $103,173,138▼4.5% | 990 |
| 2014 | $30,991,382▲8.9% | $30,349,458▲10.7% | $83,647,213▼1.9% | $108,060,710▲6.0% | 990 |
| 2013 | $28,460,242 | $27,413,537▼2.3% | $85,286,629▲4.4% | $101,971,010▲7.4% | 990 |
| 2012 | — | $28,069,685▲13.2% | $81,672,308▲2.2% | $94,904,394▲3.2% | 990 |
| 2011 | — | $24,792,364▲3.8% | $79,944,913▲0.9% | $91,942,528▲0.2% | 990 |
| 2010 | — | $23,881,102▲5.6% | $79,211,359▲26.3% | $91,785,488▲21.6% | 990 |
| 2009 | — | $22,618,373 | $62,722,183 | $75,468,178 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: Kevin Breen — $345,567 (1.04% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Kevin Breen | Head of School | 40 | $345,567 |
| Jennifer Difranco | Director of Advancement | 40 | $178,647 |
| Marnie Kut | Associate Head of School | 40 | $170,565 |
| Elizabeth Budzinski | Chief Financial Officer | 40 | $153,487 |
| Douglas Poskitt | Dean of Faculty | 40 | $131,408 |
| Canaan Severin | Trustee | 2 | — |
| Caroline Reich | Secretary | 2 | — |
| Courtney N Carr Esq | Trustee | 2 | — |
| Daniel R Bonnette | Trustee | 2 | — |
| Dr Daniel R Apelian | Trustee | 2 | — |
| Dr Jordan Eisenstock | Trustee | 2 | — |
| Dr Marla E Abodeely | Trustee | 2 | — |
| Dr Michael T Shannon | Trustee | 2 | — |
| Dr Trent Masiki | Trustee | 2 | — |
| Eva Nazarewicz | Trustee | 2 | — |
| Henry Dormitzer III | Trustee | 2 | — |
| Jonathan Stuart | Treasurer | 2 | — |
| Lawrence A Gordon | Vice President | 2 | — |
| Luke Vaillancourt | Trustee | 2 | — |
| Meg O'leary | President | 2 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Stanmar Inc | Design and Build | $5,913,626 |
| Sage Dining Services Inc | Dining Room Services | $1,503,956 |
| Metro Crime Prevention | Security Service | $576,656 |
| Compass Facility Services | Facilities | $571,568 |
| Community Counseling Services Co LLC | Campaign Consulting | $288,000 |
Grants received · $5.0M total
31 grants to Worcester Academy totaling $5.0M, reported by foundations on their Schedule I filings — showing the 15 most recent.
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Frequently asked questions
- Is Worcester Academy a legitimate nonprofit?
- Yes. Worcester Academy is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 04-2105855, based in Worcester, Massachusetts. Donations are tax-deductible.
- What is Worcester Academy's EIN?
- Worcester Academy's Employer Identification Number (EIN) is 04-2105855.
- How much revenue does Worcester Academy report?
- Worcester Academy reported $36,715,667 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Worcester Academy's spending goes to programs?
- Worcester Academy spends about 84% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Worcester Academy have?
- CharityIndex grades Worcester Academy A, based on program efficiency and fundraising cost.
- How much does Worcester Academy's highest-paid employee make?
- The highest reported compensation on Worcester Academy's latest Form 990 is $345,567, paid to Kevin Breen (Head of School).
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Data for Worcester Academy (EIN 04-2105855) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.