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Nonprofit · EIN 45-3820950

SUSSEX PREPARATORY ACADEMY FOUNDATION

Tax-exempt · LEWES, DE 19958

Financials

$1.1M$2.2M2023$684K$1.3M2024
Revenue Expenses · by fiscal year end
Financials of SUSSEX PREPARATORY ACADEMY FOUNDATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$684,169$1,260,019-$575,850$25,597,560$12,162,109$13,435,451
December 31, 2023990$1,058,747$2,188,646-$1,129,899$26,421,386$12,410,085$14,011,301
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$28,489
Program service revenue
$0
Investment income
$308
Other revenue
$655,372

Expenses

Grants and similar amounts paid
$4,520
Salaries, compensation and benefits (total)
$0
Professional fundraising fees
$9,584
Accounting fees
$14,600
Depreciation
$867,298
Program services (functional)
$1,233,518
Management and general (functional)
$16,917
Fundraising (functional)
$9,584

Balance sheet and other

Total assets, start of year
$26,421,386
Total assets, end of year
$25,597,560
Total liabilities, end of year
$12,162,109
Net assets, end of year
$13,435,451
Land, buildings and equipment
$24,057,515
Net assets without donor restrictions
$13,435,451
Gross receipts
$684,169
Employees
0
Year formed
2011
State of legal domicile
DE

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensation
JILL BURTONTREASURER
Trustee or director, Officer
2$0
JAY DIAZMEMBER
Trustee or director
2$0
STEVE MONTGOMERYMEMBER
Trustee or director
2$0
MICHELE MUNDOKMEMBER
Trustee or director
2$0
ASHLEE PARKERMEMBER
Trustee or director
2$0
MICHAEL J RAWLMEMBER
Trustee or director
2$0
JOSEPH M SCHELLCHAIRMAN
Trustee or director, Officer
2$0
JENNIFER SCOTTMEMBER
Trustee or director
2$0
WILLIAM SCOTTMEMBER
Trustee or director
2$0
STACY SHORTSECRETARY
Trustee or director, Officer
2$0
990 for the year ended December 31, 2023: 11 people
NameTitleHours / weekCompensation
CHASE BROCKSTEDTMEMBER
Trustee or director
2$0
JILL BURTONTREASURER
Trustee or director, Officer
2$0
JAY DIAZMEMBER
Trustee or director
2$0
STEVE MONTGOMERYMEMBER
Trustee or director
2$0
MICHELE MUNDOKMEMBER
Trustee or director
2$0
ASHLEE PARKERMEMBER
Trustee or director
2$0
MICHAEL J RAWLMEMBER
Trustee or director
2$0
JOSEPH M SCHELLCHAIRMAN
Trustee or director, Officer
2$0
JENNIFER SCOTTMEMBER
Trustee or director
2$0
WILLIAM SCOTTMEMBER
Trustee or director
2$0
STACY SHORTSECRETARY
Trustee or director, Officer
2$0

Address and contacts

Address (IRS master file)
PO BOX 213, LEWES, DE 19958-0213
In care of
% BRIAN WHITE
Mailing address (990-N for 2012)
P O BOX 693, LEWES DE 19958
Principal officer (990 for 2024)
JOSEPH M SCHELL, 1604 BAY AVE, LEWES, DE 19958
Principal officer (990-N for 2012)
JOSEPH M SCHELL, 1604 BAY ROAD, LEWES DE 19958
Signed the 990
JOSEPH M SCHELL, CHAIRMAN
Phone
(302) 236-7305
Return prepared by
FAW CASSON & CO LLP

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.

990 for the year ended December 31, 2024

Program accomplishments

  • THE SUSSEX ACADEMY FOUNDATION RAISED FUNDS TO MAKE MAJOR CAPITAL IMPROVEMENTS TO THE FACILITY, TO SERVE SCHOOL STUDENTS GRADES K-12. FUNDS WERE ALSO USED FOR OTHER RELATED EXPENSES TO SUPPORT THE STUDENTS OF THE SCHOOL. SCHOLARSHIPS WERE ALSO PROVIDED TO SEVERAL SUSSEX ACADEMY STUDENTS.
    Expenses $1,233,518 · grants $4,520

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
45-3820950
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (170(b)(1)(A)(vi))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
2012
Accounting year ends
December
Files
Form 990 or 990-EZ
Category (NTEE)
Education (B11)
Assets (IRS master file)
$25,597,560
Income (IRS master file)
$684,169

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$684,169$1,260,019$25,597,560IRS
990December 2023$1,058,747$2,188,646$26,421,386XML
990December 2022$2,988,908$1,360,745$27,790,589IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2019–––IRS
990December 2018–––IRS
990December 2017–––IRS
990-N for 2012
Officer: JOSEPH M SCHELL
December 31, 2012≤ $50,000 receipts––e-Postcard

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 45-3820950).

Questions about SUSSEX PREPARATORY ACADEMY FOUNDATION

What is the EIN of SUSSEX PREPARATORY ACADEMY FOUNDATION?
The employer identification number (EIN) of SUSSEX PREPARATORY ACADEMY FOUNDATION is 45-3820950.
Is SUSSEX PREPARATORY ACADEMY FOUNDATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2012.
Are donations to SUSSEX PREPARATORY ACADEMY FOUNDATION tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does SUSSEX PREPARATORY ACADEMY FOUNDATION file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of SUSSEX PREPARATORY ACADEMY FOUNDATION due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did SUSSEX PREPARATORY ACADEMY FOUNDATION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of SUSSEX PREPARATORY ACADEMY FOUNDATION?
The 990 for the year ended December 31, 2024 names JOSEPH M SCHELL.
Who are the officers and directors of SUSSEX PREPARATORY ACADEMY FOUNDATION?
The 990 for the year ended December 31, 2024 lists 10 people; 0 received compensation from the organization.
How much revenue does SUSSEX PREPARATORY ACADEMY FOUNDATION have?
On its 990 for the year ended December 31, 2024 it reported revenue of $684,169, expenses of $1,260,019 and total assets of $25,597,560 at year end.

Other nonprofits in LEWES

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