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← ALABAMA EDUCATIONAL FOUNDATION AND INDIAN SPRINGS SCHOOL A CORPORATIO

Form 990 for tax year 2023

Filed by ALABAMA EDUCATIONAL FOUNDATION AND INDIAN SPRINGS SCHOOL A CORPORATIO.

Totals

Total revenue
$14,042,927
Total expenses
$15,726,463
Contributions and grants received
$413,225
Grants paid
$2,837,906
Program service revenue
$13,158,605
Investment income
$323,589
Other revenue
$147,508
Total assets, end of year
$44,067,277
Total liabilities, end of year
$11,664,730
Net assets or fund balances, end of year
$32,402,547
Program services expenses (Part IX)
$14,242,245
Management and general expenses
$776,786
Fundraising expenses
$707,432
Program service expenses (Part III)
$14,242,245

Program services were 90.6% 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.

  • 1f · All other contributions, gifts and grants

    $413,225

  • 1g · Noncash contributions included above

    $8,269

  • 2a · Program service revenue: TUITION

    total $12,674,936 · related or exempt $12,674,936

  • 2b · Program service revenue: STUDENT FEES AND OTHER INCOME

    total $483,669 · related or exempt $483,669

  • 3 · Investment income

    total $326,481 · related or exempt $326,481

  • 5 · Royalties

    total $10,645 · related or exempt $10,645

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

    securities $2,892

  • 7c · Gain or loss

    securities -$2,892

  • 7d · Net gain or loss

    total -$2,892 · related or exempt -$2,892

  • 11a · Other revenue: SUMMER CAMP

    total $136,863 · unrelated business $136,863

  • 11e · Other revenue, total

    $136,863

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $2,837,906 · program services $2,837,906

  • 5 · Compensation of officers, directors and key employees

    total $1,006,727 · program services $565,083 · management and general $156,838 · fundraising $284,806

  • 7 · Other salaries and wages

    total $4,066,985 · program services $3,669,934 · management and general $313,719 · fundraising $83,332

  • 8 · Pension plan contributions

    total $464,879 · program services $388,033 · management and general $43,115 · fundraising $33,731

  • 9 · Other employee benefits

    total $602,546 · program services $502,944 · management and general $55,883 · fundraising $43,719

  • 10 · Payroll taxes

    total $352,516 · program services $294,244 · management and general $32,694 · fundraising $25,578

  • 11b · Fees: legal

    total $19,050 · management and general $19,050

  • 11c · Fees: accounting

    total $35,000 · management and general $35,000

  • 11g · Fees: other

    total $5,487 · program services $5,487

  • 13 · Office expenses

    total $97,568 · program services $87,811 · management and general $9,757

  • 14 · Information technology

    total $246,032 · program services $221,429 · management and general $22,143 · fundraising $2,460

  • 16 · Occupancy

    total $650,073 · program services $617,569 · management and general $26,003 · fundraising $6,501

  • 20 · Interest

    total $248,672 · program services $248,672

  • 22 · Depreciation, depletion and amortization

    total $1,606,501 · program services $1,526,176 · management and general $64,260 · fundraising $16,065

  • 23 · Insurance

    total $381,849 · program services $381,849

  • 24a · Other expenses: DINING HALL

    total $936,451 · program services $917,722 · management and general $18,729

  • 24b · Other expenses: REPAIRS AND MAINTENANCE

    total $609,032 · program services $578,581 · management and general $24,361 · fundraising $6,090

  • 24c · Other expenses: ADMISSIONS

    total $221,677 · program services $221,677

  • 24d · Other expenses: SECURITY

    total $218,263 · program services $218,263

  • 24e · All other expenses

    total $1,119,249 · program services $958,865 · management and general -$44,766 · fundraising $205,150

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,377,317 · end of year $123,381

  • 2 · Savings and temporary cash investments

    beginning of year $4,326,866 · end of year $7,783,080

  • 3 · Pledges and grants receivable

    beginning of year $3,028,114 · end of year $1,948,351

  • 4 · Accounts receivable

    beginning of year $199,687 · end of year $174,726

  • 9 · Prepaid expenses and deferred charges

    beginning of year $108,990 · end of year $103,932

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

    $50,779,970

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

    $17,347,078

  • 10c · Land, buildings and equipment, net

    beginning of year $33,707,017 · end of year $33,432,892

  • 12 · Investments: other securities

    beginning of year $256,866 · end of year $347,595

  • 15 · Other assets

    beginning of year $220,612 · end of year $153,320

  • 17 · Accounts payable and accrued expenses

    beginning of year $806,832 · end of year $1,123,005

  • 19 · Deferred revenue

    beginning of year $5,226,875 · end of year $5,472,294

  • 23 · Secured mortgages and notes payable

    beginning of year $6,073,461 · end of year $5,055,431

  • 25 · Other liabilities

    beginning of year $43,000 · end of year $14,000

  • 27 · Net assets without donor restrictions

    beginning of year $32,075,301 · end of year $32,402,547

Mission and programs · 2023

Mission

GUIDED BY OUR MOTTO, LEARNING THROUGH LIVING, INDIAN SPRINGS SCHOOL FOSTERS A LOVE OF LEARNING AND CREATIVITY, A SENSE OF INTEGRITY AND MORAL COURAGE, AND AN ETHIC OF PARTICIPATORY CITIZENSHIP WITH RESPECT FOR INDIVIDUALITY AND INDEPENDENT THOUGHT.

  • OPERATION OF EDUCATIONAL ORGANIZATION

    Expenses $14,242,245 · Grants $2,837,906 · Revenue $13,158,605

As filed on the 2023 return.

Listed in Part VII

  • Elizabeth Goodrich

    CHAIR, BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    0

  • Clara K Chung

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    0

  • Ellen McElroy

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    0

  • Jerolyn Ferrari

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    0

  • Braxton Goodrich

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    0

  • Hanson Slaughter

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    0

  • Joseph Farley III

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    0

  • Kyung Han

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    0

  • Leo Kayser III

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    0

  • Elise Frohsin

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    0

  • Robert Aland

    TREASURER BOARD OF DIRECTO

    Total calculated
    $0
    Hours/week
    0

  • W Ben Hunt

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    0

  • Lia Rushton

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    0

  • Hina Patel

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    0

  • C Randall Minor

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    0

  • R Scott Pulliam

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    0

  • John O Hudson III

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    0

  • Emily Hess Levine

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    0

  • Andrea Haines

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    0

  • Martin Damsky

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    0

  • Erin Street

    BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    0

  • Tanya Yeager

    ASSISTANT HEAD OF SCHOOL FOR FINANCE AND OPERATION

    Total calculated
    $219,676
    From this org
    $176,820
    From related orgs
    $0
    Other
    $42,856
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $176,820
    Bonus
    $0
    Other
    $0
    Deferred
    $18,644
    Nontaxable benefits
    $24,212
    Filer's total
    $219,676

  • Scott Schamberger

    HEAD OF SCHOOL

    Total calculated
    $500,057
    From this org
    $394,342
    From related orgs
    $0
    Other
    $105,715
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $394,342
    Bonus
    $0
    Other
    $0
    Deferred
    $40,897
    Nontaxable benefits
    $64,818
    Filer's total
    $500,057

  • Peggy Fleetwood

    SECRETARY

    Total calculated
    $56,673
    From this org
    $54,443
    From related orgs
    $0
    Other
    $2,230
    Hours/week
    40

  • Lauren Wainright

    DIRECTOR OF STRATEGY AND S

    Total calculated
    $126,427
    From this org
    $110,015
    From related orgs
    $0
    Other
    $16,412
    Hours/week
    40

  • James Simon

    ASSISTANT HEAD OF SCHOOL FOR ADVANCEMENT AND EXTER

    Total calculated
    $235,591
    From this org
    $206,477
    From related orgs
    $0
    Other
    $29,114
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $206,477
    Bonus
    $0
    Other
    $0
    Deferred
    $20,917
    Nontaxable benefits
    $8,197
    Filer's total
    $235,591

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

  • 1a · Housing allowance or residence for personal use
  • 1a · Personal services (maid, chauffeur, chef)
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 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 1A
ON-CAMPUS HOUSING AND HOUSEKEEPING ARE PROVIDED.

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
2 October 2024
IRS schema version
2023v5.1
Source object
202402789349301000

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