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← NORFOLK COLLEGIATE SCHOOL

Form 990 for tax year 2023

Filed by NORFOLK COLLEGIATE SCHOOL.

Totals

Total revenue
$14,682,322
Total expenses
$15,164,911
Contributions and grants received
$1,166,609
Grants paid
$2,193,369
Program service revenue
$13,087,371
Investment income
$100,671
Other revenue
$327,671
Total assets, end of year
$24,969,528
Total liabilities, end of year
$8,773,854
Net assets or fund balances, end of year
$16,195,674
Program services expenses (Part IX)
$12,537,162
Management and general expenses
$2,087,959
Fundraising expenses
$539,790
Program service expenses (Part III)
$12,537,162

Program services were 82.7% 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

    $1,166,609

  • 1g · Noncash contributions included above

    $122,882

  • 2a · Program service revenue: TUITION

    total $12,891,197 · related or exempt $12,891,197

  • 2b · Program service revenue: AUXILIARY SERVICES

    total $196,174 · related or exempt $196,174

  • 3 · Investment income

    total $100,671 · excluded $100,671

  • 6a · Gross rents

    real property $117,129

  • 6b · Less rental expenses

    real property $35,522

  • 6c · Rental income or loss

    real property $81,607

  • 6d · Net rental income or loss

    total $81,607 · excluded $81,607

  • 8a · Fundraising events: gross income

    $457,951

  • 8b · Fundraising events: direct expenses

    $211,887

  • 8c · Net income from fundraising events

    total $246,064 · excluded $246,064

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $2,193,369 · program services $2,193,369

  • 5 · Compensation of officers, directors and key employees

    total $258,939 · program services $191,513 · management and general $49,231 · fundraising $18,195

  • 7 · Other salaries and wages

    total $5,859,828 · program services $4,333,962 · management and general $1,074,324 · fundraising $451,542

  • 9 · Other employee benefits

    total $350,832 · program services $259,477 · management and general $91,355

  • 10 · Payroll taxes

    total $520,889 · program services $359,034 · management and general $126,406 · fundraising $35,449

  • 11f · Fees: investment management

    total $12,614 · management and general $12,614

  • 11g · Fees: other

    total $1,174,585 · program services $910,203 · management and general $231,855 · fundraising $32,527

  • 12 · Advertising and promotion

    total $95,865 · management and general $95,865

  • 14 · Information technology

    total $47,922 · management and general $47,922

  • 16 · Occupancy

    total $340,940 · program services $328,243 · management and general $12,697

  • 19 · Conferences, conventions and meetings

    total $4,095 · management and general $4,080 · fundraising $15

  • 20 · Interest

    total $165,491 · program services $165,491

  • 22 · Depreciation, depletion and amortization

    total $760,615 · program services $760,615

  • 23 · Insurance

    total $114,858 · program services $114,858

  • 24a · Other expenses: SCHOLARSHIPS

    total $905,341 · program services $905,341

  • 24b · Other expenses: DINING SERVICES

    total $830,244 · program services $830,244

  • 24c · Other expenses: ATHLETIC DEPARTMENT

    total $384,966 · program services $384,966

  • 24d · Other expenses: LEARNING RESOURCE PROGR

    total $231,565 · program services $231,565

  • 24e · All other expenses

    total $911,953 · program services $568,281 · management and general $341,610 · fundraising $2,062

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,524,862 · end of year $3,473,958

  • 2 · Savings and temporary cash investments

    beginning of year $266,372 · end of year $229,736

  • 3 · Pledges and grants receivable

    beginning of year $378,306 · end of year $312,196

  • 4 · Accounts receivable

    beginning of year $32,032 · end of year $128,786

  • 8 · Inventories for sale or use

    beginning of year $35,418 · end of year $31,797

  • 9 · Prepaid expenses and deferred charges

    beginning of year $170,472 · end of year $150,027

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

    $31,792,181

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

    $15,420,010

  • 10c · Land, buildings and equipment, net

    beginning of year $16,883,695 · end of year $16,372,171

  • 11 · Investments: publicly traded securities

    beginning of year $3,355,694 · end of year $4,051,447

  • 15 · Other assets

    beginning of year $150,424 · end of year $219,410

  • 17 · Accounts payable and accrued expenses

    beginning of year $765,283 · end of year $1,051,746

  • 19 · Deferred revenue

    beginning of year $2,681,365 · end of year $2,928,475

  • 20 · Tax-exempt bond liabilities

    beginning of year $4,905,591 · end of year $4,613,114

  • 23 · Secured mortgages and notes payable

    beginning of year $149,384 · end of year $149,112

  • 25 · Other liabilities

    beginning of year $27,210 · end of year $31,407

  • 27 · Net assets without donor restrictions

    beginning of year $13,310,270 · end of year $12,758,233

  • 28 · Net assets with donor restrictions

    beginning of year $2,958,172 · end of year $3,437,441

Mission and programs · 2023

Mission

TO EDUCATE A DIVERSE BODY OF STUDENTS TO THRIVE IN A COLLEGE SETTING AND BEYOND.

  • OPERATION OF A PRIVATE SCHOOL WITH AN APPROXIMATE ENROLLMENT OF 600 STUDENTS.

    Expenses $12,537,162 · Grants $2,193,369 · Revenue $13,087,371

As filed on the 2023 return.

Listed in Part VII

  • Taylor Franklin

    VISE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Langbourne Williams

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • William L Taliaferro Jr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Alison Carlsmith

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • George M Rector

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • William B Brock

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Brian M Clements

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Greg Murphy

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Pamela E Crenshaw

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Kenneth L Edmond

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Virginia Hitch

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Marc A Hrisko

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Keith Newby

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Thomas E Mathas

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Richard P Meredith Jr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Thomas Minton III

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Dr Sharon B Reed

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Morgan Redd

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • John F Sawyer

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Andrew A Protogyrou

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Dr Elizabeth Ruth Smith

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Trina S Stewart

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • James L Thomson III

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Meredith Larson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Andrew Castellano

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Scott G Kennedy

    HEAD OF SCHOOL

    Total calculated
    $262,661
    From this org
    $246,312
    From related orgs
    $0
    Other
    $16,349
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $246,312
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $246,312

  • Anne C Claywell

    HEAD OF UPPER SCHOOL

    Total calculated
    $108,961
    From this org
    $108,671
    From related orgs
    $0
    Other
    $290
    Hours/week
    40

  • Stacy Nixon

    ASSISTANT HEAD FOR ADVANCE

    Total calculated
    $142,507
    From this org
    $142,139
    From related orgs
    $0
    Other
    $368
    Hours/week
    40

  • Cary A Sawyer

    DIRECTOR OF FINANCE AND OP

    Total calculated
    $136,899
    From this org
    $131,364
    From related orgs
    $0
    Other
    $5,535
    Hours/week
    40

  • Nefertiti Makeda

    DIRECTOR OF DIVERSITY AND INCLUSION

    Total calculated
    $104,850
    From this org
    $104,578
    From related orgs
    $0
    Other
    $272
    Hours/week
    40

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 · 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

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
22 November 2024
IRS schema version
2023v5.1
Source object
202423309349300902

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