Farmington Academy Inc
Farmington Academy Inc. maintains stable operations with growing assets, despite a recent minor deficit.
EIN: 201571082 · Avon, CT · NTEE: B20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.3M |
| Total Expenses | $2.2M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $2 |
| Net Assets | $598K |
| Transparency Score | 85/100 |
Is Farmington Academy Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Farmington Academy Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Farmington Academy Inc
Farmington Academy Inc (EIN: 201571082) is a nonprofit organization based in Avon, CT, classified under NTEE code B20. The organization reported total revenue of $2.3M and total assets of $2.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Farmington Academy Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Farmington Academy Inc is a mid-size nonprofit that has been operating for 21 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 1.8%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.0M |
| Total Expenses | $2.2M |
| Surplus / Deficit | $-125,390 |
| Total Assets | $3.8M |
| Total Liabilities | $3.2M |
| Net Assets | $598K |
| Operating Margin | -6.2% |
| Debt-to-Asset Ratio | 84.4% |
| Months of Reserves | 21.2 months |
Financial Health Grade: C
In 2024, Farmington Academy Inc reported a deficit of $125K with expenses exceeding revenue, holds 21.2 months of operating reserves (strong position), has a debt-to-asset ratio of 84.4% (high leverage).
Financial Trends
Over 14 years of filings (2011–2024), Farmington Academy Inc's revenue has grown at a compound annual growth rate (CAGR) of 1.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | -5.4% | +1.3% | -1.1% |
| 2023 | +6.8% | +18.4% | +179.2% |
| 2022 | +8.5% | -2.9% | +3.8% |
| 2021 | +13.6% | +11.3% | -0.7% |
| 2020 | -9.9% | -6.2% | +13.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2005 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Farmington Academy Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Farmington Academy Inc allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $125K, with expenses exceeding revenue.
- Debt-to-asset ratio: 84.4%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation from the organization. This suggests a highly efficient use of funds, with resources directly supporting the organization's mission rather than executive salaries, especially for an organization with over $2 million in annual revenue.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Farmington Academy Inc's IRS 990 filings:
- Expenses exceeded revenue in the most recent 2024 filing ($2,162,683 vs $2,037,293).
Strengths
The following positive indicators were identified for Farmington Academy Inc:
- Consistent 0% officer compensation across all filings, indicating high efficiency.
- Significant growth in assets from $1,333,029 in 2021 to $3,824,019 in 2024.
- Generally stable financial operations with revenues closely matching or exceeding expenses over the past decade.
Frequently Asked Questions about Farmington Academy Inc
Is Farmington Academy Inc a legitimate charity?
Farmington Academy Inc (EIN: 201571082) is a registered tax-exempt nonprofit based in Connecticut. Our AI analysis gives it a Mission Score of 85/100. It has 14 years of IRS 990 filings on record. Total revenue: $2.3M. 1 red flag identified. 3 strengths noted. Financial health grade: C.
How does Farmington Academy Inc spend its money?
Farmington Academy Inc directs 90% of its spending to programs and services. Fundraising costs 3%. This exceeds the 65% industry benchmark.
Are donations to Farmington Academy Inc tax-deductible?
Farmington Academy Inc is registered as a tax-exempt nonprofit (EIN: 201571082). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Farmington Academy Inc CEO make?
Farmington Academy Inc's highest-compensated officer earns $2 annually. The organization reported $2.3M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Farmington Academy Inc's spending goes to programs?
Farmington Academy Inc directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Farmington Academy Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Farmington Academy Inc is above average for NTEE category B20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Farmington Academy Inc located?
Farmington Academy Inc is headquartered in Avon, Connecticut and files with the IRS under EIN 201571082. It is classified under NTEE code B20.
How many years of IRS 990 filings does Farmington Academy Inc have?
Farmington Academy Inc has 14 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $2.3M in total revenue.
Is Farmington Academy Inc. financially stable?
Yes, Farmington Academy Inc. appears financially stable. While the 2024 filing shows expenses slightly exceeding revenue, the organization has consistently managed its finances over the past decade, often operating with a surplus or near break-even. Its assets have also grown significantly, reaching $3,824,019 in 2024, providing a strong financial cushion.
How does Farmington Academy Inc. manage executive compensation?
Farmington Academy Inc. reports 0% officer compensation across all 14 available filings. This indicates that no officers are compensated by the organization, which is a strong positive for directing funds towards its programs.
Has Farmington Academy Inc.'s financial health improved over time?
Yes, the organization's financial health has generally improved, particularly in terms of asset growth. Assets have increased from $1,503,592 in 2015 to $3,824,019 in 2024, demonstrating significant balance sheet strengthening. Revenue and expenses have also shown a general upward trend, indicating growth in operations.
Filing History
IRS 990 filing history for Farmington Academy Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Farmington Academy Inc's revenue has grown by 26.5%, moving from $1.6M to $2.0M. Total assets increased by 142.7% over the same period, from $1.6M to $3.8M. Total functional expenses rose by 35.2%, from $1.6M to $2.2M. In its most recent filing year (2024), Farmington Academy Inc reported a deficit of $125K, with expenses exceeding revenue. The organization holds $3.2M in liabilities against $3.8M in assets (debt-to-asset ratio: 84.4%), resulting in net assets of $598K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $2.0M | $2.2M | $3.8M | $3.2M | — | View 990 |
| 2023 | $2.2M | $2.1M | $3.9M | $3.1M | — | View 990 |
| 2022 | $2.0M | $1.8M | $1.4M | $941K | — | View 990 |
| 2021 | $1.9M | $1.9M | $1.3M | $1.1M | — | View 990 |
| 2020 | $1.6M | $1.7M | $1.3M | $1.1M | — | View 990 |
| 2019 | $1.8M | $1.8M | $1.2M | $920K | — | View 990 |
| 2018 | $1.7M | $1.7M | $1.2M | $1.0M | — | View 990 |
| 2017 | $1.5M | $1.7M | $1.1M | $858K | — | View 990 |
| 2016 | $1.7M | $1.8M | $1.2M | $755K | — | View 990 |
| 2015 | $2.0M | $2.0M | $1.5M | $956K | — | View 990 |
| 2014 | $1.8M | $1.7M | $1.6M | $1.1M | — | View 990 |
| 2013 | $1.6M | $1.6M | $1.4M | $1.0M | — | View 990 |
| 2012 | $1.6M | $1.6M | $1.4M | $905K | — | View 990 |
| 2011 | $1.6M | $1.6M | $1.6M | $1.1M | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $2.0M, expenses of $2.2M, and assets of $3.8M (revenue -5.4% year-over-year).
- 2023: Revenue of $2.2M, expenses of $2.1M, and assets of $3.9M (revenue +6.8% year-over-year).
- 2022: Revenue of $2.0M, expenses of $1.8M, and assets of $1.4M (revenue +8.5% year-over-year).
- 2021: Revenue of $1.9M, expenses of $1.9M, and assets of $1.3M (revenue +13.6% year-over-year).
- 2020: Revenue of $1.6M, expenses of $1.7M, and assets of $1.3M (revenue -9.9% year-over-year).
- 2019: Revenue of $1.8M, expenses of $1.8M, and assets of $1.2M (revenue +9.2% year-over-year).
- 2018: Revenue of $1.7M, expenses of $1.7M, and assets of $1.2M (revenue +9.1% year-over-year).
- 2017: Revenue of $1.5M, expenses of $1.7M, and assets of $1.1M (revenue -12.3% year-over-year).
- 2016: Revenue of $1.7M, expenses of $1.8M, and assets of $1.2M (revenue -13.9% year-over-year).
- 2015: Revenue of $2.0M, expenses of $2.0M, and assets of $1.5M (revenue +11.4% year-over-year).
- 2014: Revenue of $1.8M, expenses of $1.7M, and assets of $1.6M (revenue +16.3% year-over-year).
- 2013: Revenue of $1.6M, expenses of $1.6M, and assets of $1.4M (revenue -1.8% year-over-year).
- 2012: Revenue of $1.6M, expenses of $1.6M, and assets of $1.4M (revenue -1.7% year-over-year).
- 2011: Revenue of $1.6M, expenses of $1.6M, and assets of $1.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Farmington Academy Inc:
Data Sources and Methodology
This transparency report for Farmington Academy Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.