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← WATERFORD SCHOOL HOLDING CORPORATION

Form 990 for tax year 2022

Filed by WATERFORD SCHOOL HOLDING CORPORATION.

Totals

Total revenue
$37,352,085
Total expenses
$32,223,920
Contributions and grants received
$7,078,329
Grants paid
$2,976,201
Program service revenue
$29,639,533
Investment income
$592,012
Other revenue
$42,211
Total assets, end of year
$90,127,433
Total liabilities, end of year
$50,325,752
Net assets or fund balances, end of year
$39,801,681
Program services expenses (Part IX)
$27,456,758
Management and general expenses
$3,814,822
Fundraising expenses
$952,340
Program service expenses (Part III)
$27,456,758

Program services were 85.2% 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

    $7,078,329

  • 1g · Noncash contributions included above

    $634,274

  • 2a · Program service revenue: TUITION & FEES

    total $28,255,919 · related or exempt $28,255,919

  • 2b · Program service revenue: AUXILIARY REVENUES

    total $1,383,614 · related or exempt $1,383,614

  • 3 · Investment income

    total $582,187 · excluded $582,187

  • 6a · Gross rents

    real property $40,150 · personal property $2,061

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $40,150 · personal property $2,061

  • 6d · Net rental income or loss

    total $42,211 · related or exempt $6,965 · unrelated business $35,246

  • 7a · Gross sales of assets other than inventory

    securities $1,165 · other assets $18,442

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

    securities $0 · other assets $9,782

  • 7c · Gain or loss

    securities $1,165 · other assets $8,660

  • 7d · Net gain or loss

    total $9,825 · related or exempt $9,825

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $2,976,201 · program services $2,976,201

  • 5 · Compensation of officers, directors and key employees

    total $1,387,650 · program services $1,387,650

  • 7 · Other salaries and wages

    total $15,726,884 · program services $12,937,341 · management and general $2,232,274 · fundraising $557,269

  • 9 · Other employee benefits

    total $4,188,603 · program services $3,505,890 · management and general $546,327 · fundraising $136,386

  • 11g · Fees: other

    total $533,254 · program services $446,338 · management and general $69,553 · fundraising $17,363

  • 12 · Advertising and promotion

    total $100,498 · program services $84,118 · management and general $13,108 · fundraising $3,272

  • 14 · Information technology

    total $287,461 · program services $240,607 · management and general $37,494 · fundraising $9,360

  • 16 · Occupancy

    total $873,085 · program services $730,778 · management and general $113,878 · fundraising $28,429

  • 17 · Travel

    total $833,397 · program services $697,560 · management and general $108,701 · fundraising $27,136

  • 20 · Interest

    total -$30,321 · program services -$25,379 · management and general -$3,955 · fundraising -$987

  • 22 · Depreciation, depletion and amortization

    total $1,030,756 · program services $862,750 · management and general $134,443 · fundraising $33,563

  • 24a · Other expenses: CONTRACT SERVICES

    total $1,631,424 · program services $1,365,514 · management and general $212,789 · fundraising $53,121

  • 24b · Other expenses: SUPPLIES

    total $1,194,144 · program services $999,507 · management and general $155,754 · fundraising $38,883

  • 24c · Other expenses: CATERING

    total $311,561 · program services $260,779 · management and general $40,637 · fundraising $10,145

  • 24d · Other expenses: COGS

    total $286,241 · program services $239,586 · management and general $37,335 · fundraising $9,320

  • 24e · All other expenses

    total $893,082 · program services $747,518 · management and general $116,484 · fundraising $29,080

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6

  • 2 · Savings and temporary cash investments

    beginning of year $16,328,127 · end of year $16,816,938

  • 3 · Pledges and grants receivable

    beginning of year $5,556,514 · end of year $7,772,113

  • 4 · Accounts receivable

    beginning of year $1,835,897 · end of year $1,196,541

  • 8 · Inventories for sale or use

    beginning of year $365,030 · end of year $333,465

  • 9 · Prepaid expenses and deferred charges

    beginning of year $257,464 · end of year $1,345,114

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

    $64,018,342

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

    $24,452,427

  • 10c · Land, buildings and equipment, net

    beginning of year $22,251,209 · end of year $39,565,915

  • 12 · Investments: other securities

    beginning of year $34,879,805 · end of year $23,097,347

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,576,865 · end of year $3,346,677

  • 19 · Deferred revenue

    beginning of year $17,216,105 · end of year $19,146,429

  • 23 · Secured mortgages and notes payable

    beginning of year $27,879,638 · end of year $27,775,053

  • 25 · Other liabilities

    beginning of year $74,901 · end of year $57,593

  • 27 · Net assets without donor restrictions

    beginning of year $12,114,974 · end of year $16,289,557

  • 28 · Net assets with donor restrictions

    beginning of year $21,611,569 · end of year $23,512,124

Mission and programs · 2022

Mission

WE PROVIDE STUDENTS WITH A WORLD-CLASS LIBERAL ARTS EDUCATION THAT STIMULATES INTELLECT, IGNITES PASSION, AND SHAPES CHARACTER.

Activities or mission (Part I)

OPERATE A PRE-K TO GRADE 12 INDEPENDENT SCHOOL

  • OPERATE A PRE-K TO GRADE 12 INDEPENDENT SCHOOL

    Expenses $27,456,758 · Grants $2,976,201 · Revenue $29,656,323

As filed on the 2022 return.

Listed in Part VII

  • Chantal Dolan

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • Ray Etcheverry

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • Eric Huefner

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    6

  • Ron Mika

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • Steve Miller

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • Kristin Stockham

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • Tom Stockham

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • Jb Taylor

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • Andrew Menke

    HEAD OF SCHOOL

    Total calculated
    $417,780
    From this org
    $386,971
    From related orgs
    $0
    Other
    $30,809
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $331,771
    Bonus
    $0
    Other
    $55,200
    Deferred
    $0
    Nontaxable benefits
    $30,809
    Filer's total
    $417,780

  • Aaron Aizad

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • Heather Scott

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • Blake Murray

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • Bea Washington

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • Heather Zynczak

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • Greg Miles

    CHIEF FINANCIAL OFFICER

    Total calculated
    $194,113
    From this org
    $162,528
    From related orgs
    $0
    Other
    $31,585
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $162,528
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $31,585
    Filer's total
    $194,113

  • Brandon Bennett

    ASSOCIATE HEAD OF SCHOOL

    Total calculated
    $176,252
    From this org
    $166,592
    From related orgs
    $0
    Other
    $9,660
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $166,592
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $9,660
    Filer's total
    $176,252

  • Todd Winters

    DIRECTOR OF ADVANCEMENT

    Total calculated
    $215,951
    From this org
    $186,647
    From related orgs
    $0
    Other
    $29,304
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $186,647
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $29,304
    Filer's total
    $215,951

  • Melanie Battistone

    LOWER SCHOOL HEAD

    Total calculated
    $142,129
    From this org
    $133,599
    From related orgs
    $0
    Other
    $8,530
    Hours/week
    55

  • Darren Beck

    IT DIRECTOR

    Total calculated
    $144,688
    From this org
    $115,859
    From related orgs
    $0
    Other
    $28,829
    Hours/week
    45

  • Kathy Morris

    MUSIC DEPARTMENT CHAIR

    Total calculated
    $146,263
    From this org
    $129,629
    From related orgs
    $0
    Other
    $16,634
    Hours/week
    45

  • Charles Rosett

    ENGLISH TEACHER

    Total calculated
    $126,671
    From this org
    $105,825
    From related orgs
    $0
    Other
    $20,846
    Hours/week
    45

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

  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 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

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • WATERFORD SCHOOL LLC

    OPERATION OF WATERFORD SCHOOL · UT · income $30,260,062 · assets $50,062,215

    Directly controlled by WATERFORD SCHOOL HOLDING CORPORATION

  • WATERFORD IMPATIENCE FUND LLC

    RESTRICTED ENDOWMENT FUND · UT · income $13,695 · assets $497,522

    Directly controlled by WATERFORD SCHOOL HOLDING CORPORATION

Provenance

Return type
form_990
Tax year
2022
Filed
24 June 2024
IRS schema version
2022v5.0
Source object
202421919349300817

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