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Nonprofiteer
← COLLEGIATE SCHOOL

Form 990 for tax year 2023

Filed by COLLEGIATE SCHOOL.

Totals

Total revenue
$64,097,210
Total expenses
$61,145,741
Contributions and grants received
$4,624,974
Grants paid
$4,913,918
Program service revenue
$54,277,355
Investment income
$5,088,024
Other revenue
$106,857
Total assets, end of year
$177,169,569
Total liabilities, end of year
$35,066,361
Net assets or fund balances, end of year
$142,103,208
Program services expenses (Part IX)
$53,282,398
Management and general expenses
$6,018,834
Fundraising expenses
$1,844,509
Program service expenses (Part III)
$53,282,398

Program services were 87.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $273,179

  • 1f · All other contributions, gifts and grants

    $4,351,795

  • 1g · Noncash contributions included above

    $2,167,432

  • 2a · Program service revenue: TUITION & FEES

    total $48,623,712 · related or exempt $48,623,712

  • 2b · Program service revenue: FOOD SERVICE

    total $1,782,331 · related or exempt $1,782,331

  • 2c · Program service revenue: SUMMER PROGRAMS

    total $1,391,371 · related or exempt $1,391,371

  • 2d · Program service revenue: CHILD CARE

    total $1,282,014 · related or exempt $1,282,014

  • 2e · Program service revenue: PRIVATE MUSIC LESSONS

    total $370,957 · related or exempt $370,957

  • 2f · All other program service revenue

    total $826,970 · related or exempt $826,970

  • 3 · Investment income

    total $1,403,021 · unrelated business $283,648 · excluded $1,119,373

  • 6a · Gross rents

    real property $117,677

  • 6b · Less rental expenses

    real property $58,275

  • 6c · Rental income or loss

    real property $59,402

  • 6d · Net rental income or loss

    total $59,402 · excluded $59,402

  • 7a · Gross sales of assets other than inventory

    securities $18,779,896

  • 7b · Less cost or other basis and sales expenses

    securities $15,094,893

  • 7c · Gain or loss

    securities $3,685,003

  • 7d · Net gain or loss

    total $3,685,003 · excluded $3,685,003

  • 8a · Fundraising events: gross income

    $507,472

  • 8a · Fundraising events: contributions included on line 1c

    $273,179

  • 8b · Fundraising events: direct expenses

    $424,110

  • 8c · Net income from fundraising events

    total $83,362 · excluded $83,362

  • 9a · Gaming: gross income

    $40,555

  • 9b · Gaming: direct expenses

    $18,035

  • 9c · Net income from gaming

    total $22,520 · excluded $22,520

  • 10a · Gross sales of inventory

    $418,221

  • 10b · Cost of goods sold

    $476,648

  • 10c · Net income from sales of inventory

    total -$58,427 · related or exempt -$58,427

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $4,913,918 · program services $4,913,918

  • 5 · Compensation of officers, directors and key employees

    total $1,042,834 · program services $192,453 · management and general $657,928 · fundraising $192,453

  • 7 · Other salaries and wages

    total $27,165,895 · program services $24,294,707 · management and general $2,149,467 · fundraising $721,721

  • 8 · Pension plan contributions

    total $2,028,955 · program services $1,801,255 · management and general $160,498 · fundraising $67,202

  • 9 · Other employee benefits

    total $7,076,335 · program services $6,319,875 · management and general $521,280 · fundraising $235,180

  • 10 · Payroll taxes

    total $2,026,862 · program services $1,764,992 · management and general $196,021 · fundraising $65,849

  • 11b · Fees: legal

    total $101,452 · program services $3,400 · management and general $98,052

  • 11c · Fees: accounting

    total $73,264 · management and general $73,264

  • 11f · Fees: investment management

    total $704,949 · management and general $704,949

  • 11g · Fees: other

    total $4,286,976 · program services $3,796,643 · management and general $398,912 · fundraising $91,421

  • 12 · Advertising and promotion

    total $86,427 · management and general $86,427

  • 13 · Office expenses

    total $1,410,081 · program services $1,134,295 · management and general $169,218 · fundraising $106,568

  • 14 · Information technology

    total $636,020 · program services $556,603 · management and general $75,969 · fundraising $3,448

  • 15 · Royalties

    total $12,040 · program services $12,040

  • 16 · Occupancy

    total $1,790,944 · program services $1,647,990 · management and general $89,651 · fundraising $53,303

  • 17 · Travel

    total $204,166 · program services $133,301 · management and general $69,502 · fundraising $1,363

  • 19 · Conferences, conventions and meetings

    total $369,567 · program services $334,510 · management and general $20,287 · fundraising $14,770

  • 20 · Interest

    total $554,987 · program services $534,702 · management and general $19,531 · fundraising $754

  • 22 · Depreciation, depletion and amortization

    total $4,910,908 · program services $4,764,102 · management and general $122,182 · fundraising $24,624

  • 23 · Insurance

    total $335,993 · program services $30,131 · management and general $305,862

  • 24a · Other expenses: FIELD TRIP EXPENSE

    total $308,275 · program services $306,984 · management and general $1,291

  • 24b · Other expenses: DUES AND SUBSCRIPTIONS

    total $258,081 · program services $207,537 · management and general $46,669 · fundraising $3,875

  • 24e · All other expenses

    total $846,812 · program services $532,960 · management and general $51,874 · fundraising $261,978

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,077,029 · end of year $7,895,710

  • 2 · Savings and temporary cash investments

    beginning of year $4,092,139 · end of year $6,100,598

  • 3 · Pledges and grants receivable

    beginning of year $1,983,818 · end of year $1,237,465

  • 4 · Accounts receivable

    beginning of year $238,961 · end of year $128,807

  • 7 · Other notes and loans receivable

    end of year $1,066,681

  • 8 · Inventories for sale or use

    beginning of year $51,549 · end of year $83,408

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,035,151 · end of year $857,524

  • 10a · Land, buildings and equipment: cost or other basis

    $146,467,653

  • 10b · Land, buildings and equipment: accumulated depreciation

    $94,142,736

  • 10c · Land, buildings and equipment, net

    beginning of year $54,989,510 · end of year $52,324,917

  • 11 · Investments: publicly traded securities

    beginning of year $26,139,990 · end of year $30,411,038

  • 12 · Investments: other securities

    beginning of year $70,461,430 · end of year $70,356,070

  • 15 · Other assets

    beginning of year $10,844,665 · end of year $6,707,351

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,056,523 · end of year $4,015,029

  • 19 · Deferred revenue

    beginning of year $3,930,513 · end of year $4,760,371

  • 20 · Tax-exempt bond liabilities

    beginning of year $25,653,996 · end of year $24,099,091

  • 25 · Other liabilities

    beginning of year $2,282,500 · end of year $2,191,870

  • 27 · Net assets without donor restrictions

    beginning of year $76,065,521 · end of year $79,833,598

  • 28 · Net assets with donor restrictions

    beginning of year $58,925,189 · end of year $62,269,610

Mission and programs · 2023

Mission

TO CREATE A DIVERSE AND INCLUSIVE COMMUNITY OF LEARNERS COMMITTED TO A CHALLENGING AND SUPPORTIVE EDUCATIONAL EXPERIENCE THAT WILL FOSTER THE INTELLECTUAL, MORAL, EMOTIONAL, AND PHYSICAL DEVELOPMENT OF EACH STUDENT.

Activities or mission (Part I)

SEE SCHEDULE O TO CREATE A DIVERSE AND INCLUSIVE COMMUNITY OF LEARNERS COMMITTED TO A CHALLENGING AND SUPPORTIVE EDUCATIONAL EXPERIENCE THAT WILL FOSTER THE INTELLECTUAL, MORAL, EMOTIONAL, AND PHYSICAL DEVELOPMENT OF EACH STUDENT.

  • INSTRUCTIONAL: COLLEGIATE SCHOOL PROVIDED JUNIOR KINDERGARTEN THROUGH TWELFTH GRADE EDUCATION TO 1,687 STUDENTS. COLLEGIATE OPERATES TWO CAMPUSES: THE 55-ACRE MAIN ACADEMIC CAMPUS, LOCATED IN WESTERN HENRICO COUNTY, AND THE ROBINS CAMPUS, A 180-ACRE ATHLETIC CAMPUS, LOCATED IN EASTERN GOOCHLAND COUNTY. THE MAIN CAMPUS COMPRISES THE LOWER SCHOOL, MIDDLE SCHOOL AND UPPER SCHOOL AND IS ALSO HOME TO THE HERSHEY CENTER FOR THE ARTS, GROVER JONES ATHLETIC FIELD, THE SHARP ACADEMIC COMMONS AND THREE LIBRARIES. PROGRAM DESCRIPTION CONTINUED ON SCHEDULE O.

    Expenses $47,536,748 · Grants $4,913,918 · Revenue $48,546,925

  • AUXILIARIES AND OTHER PROGRAMS - THE SCHOOL OPERATES, FOR THE BENEFIT AND CONVENIENCE OF PARENTS, STUDENTS, AND ALUMNI, SEVERAL AUXILIARY SERVICES INCLUDING FOOD SERVICE (CAFETERIAS), A CAMPUS BOOKSTORE, AFTER SCHOOL PROGRAMS, SUMMER CAMPS, YOUTH SPORTS, AND PRIVATE MUSIC INSTRUCTION, AMONG OTHERS.

    Expenses $5,745,650 · Revenue $5,672,003

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • William S Peebles IV

    INTERIM HEAD OF SCHOOL

    Total calculated
    $608,984
    From this org
    $606,977
    From related orgs
    $0
    Other
    $2,007
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $549,231
    Bonus
    $52,500
    Other
    $5,246
    Deferred
    $0
    Nontaxable benefits
    $2,007
    Filer's total
    $608,984

  • Carter M Reid

    CHAIR OF THE BOARD

    Total calculated
    $0
    Hours/week
    2

  • W Hildebrandt Surgner Jr

    VICE CHAIR OF THE BOARD

    Total calculated
    $0
    Hours/week
    2

  • Neelan A Markel

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Ellen T Bonbright

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Callie Lacy Brackett

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Mayme Beth F Donohue

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Mason T Chapman

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Wortie Ferrell II

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Meera Pahuja

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • J Cheairs Porter Jr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • John H Rivers Jr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Peter E Mahoney Sr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Joann Andrales Ruh

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Malcolm S McDonald

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Morenike K Miles

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Julious P Smith III

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Kenneth P Ruscio

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Wallace Stettinius

    TRUSTEE EMERITUS

    Total calculated
    $0
    Hours/week
    2

  • R Gregory Williams

    TRUSTEE EMERITUS

    Total calculated
    $0
    Hours/week
    2

  • Phyllis Palmiero

    CFO & COO

    Total calculated
    $352,254
    From this org
    $285,716
    From related orgs
    $0
    Other
    $66,538
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $283,062
    Bonus
    $0
    Other
    $2,654
    Deferred
    $30,014
    Nontaxable benefits
    $36,524
    Filer's total
    $352,254

  • Deborah Clabo

    ASSISTANT SECRETARY

    Total calculated
    $99,484
    From this org
    $80,950
    From related orgs
    $0
    Other
    $18,534
    Hours/week
    40

  • Kristen O Williams

    CHIEF DEVELOPMENT OFFICER

    Total calculated
    $236,586
    From this org
    $169,007
    From related orgs
    $0
    Other
    $67,579
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $167,692
    Bonus
    $0
    Other
    $1,315
    Deferred
    $12,175
    Nontaxable benefits
    $55,404
    Filer's total
    $236,586

  • Patrick E Loach

    HEAD OF UPPER SCHOOL

    Total calculated
    $233,059
    From this org
    $166,261
    From related orgs
    $0
    Other
    $66,798
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $165,229
    Bonus
    $0
    Other
    $1,032
    Deferred
    $17,967
    Nontaxable benefits
    $48,831
    Filer's total
    $233,059

  • Tung Trinh

    HEAD OF MIDDLE SCHOOL/DEAN OF FACULTY

    Total calculated
    $237,393
    From this org
    $164,517
    From related orgs
    $0
    Other
    $72,876
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $163,699
    Bonus
    $0
    Other
    $818
    Deferred
    $11,933
    Nontaxable benefits
    $60,943
    Filer's total
    $237,393

  • Deborah Miller

    HEAD OF LOWER SCHOOL

    Total calculated
    $177,962
    From this org
    $150,499
    From related orgs
    $0
    Other
    $27,463
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $147,389
    Bonus
    $0
    Other
    $3,110
    Deferred
    $14,934
    Nontaxable benefits
    $12,529
    Filer's total
    $177,962

  • Louis Fierro

    DIRECTOR OF INFORMATION TECHNOLOGY

    Total calculated
    $237,743
    From this org
    $142,182
    From related orgs
    $0
    Other
    $95,561
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $141,381
    Bonus
    $0
    Other
    $801
    Deferred
    $10,883
    Nontaxable benefits
    $84,678
    Filer's total
    $237,743

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE COMPENSATION COMMITTEE REVIEWS THE INDEX (INDEPENDENT DATA EXCHANGE) REPORT ON THE SALARIES AND TOTAL COMPENSATION FOR THE HEAD OF SCHOOL. THE INDEX BENCHMARKING GROUP CONSISTS OF A VARIETY OF JK-12 CO-EDUCATIONAL DAY SCHOOLS ACROSS THE NATION WITH SIMILAR MISSIONS AND SIZE TO COLLEGIATE SCHOOL. THE COMMITTEE ALSO REVIEWS ANY OTHER COMPARISONS THAT MAY BE AVAILABLE AT THAT TIME. IN ADDITION, THE COMPENSATION COMMITTEE ENGAGES PROFESSIONAL SERVICES TO ESTABLISH A REBUTTABLE PRESUMPTION OF REASONABLENESS FOR THE HEAD OF SCHOOL.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
20 November 2024
IRS schema version
2023v6.0
Source object
202501359349307275

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