Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $286,013

• 1e · Government grants (contributions)

  $105,719

• 1f · All other contributions, gifts and grants

  $6,668,729

• 1g · Noncash contributions included above

  $586,376

• 2a · Program service revenue: TUITION

  total $24,737,216 · related or exempt $24,737,216

• 2b · Program service revenue: SUMMER AND AFTER SCHOOL SESSIONS

  total $514,405 · related or exempt $514,405

• 3 · Investment income

  total $1,168,701 · excluded $1,168,701

• 6a · Gross rents

  real property $107,570

• 6b · Less rental expenses

  real property $35,000

• 6c · Rental income or loss

  real property $72,570

• 6d · Net rental income or loss

  total $72,570 · excluded $72,570

• 7a · Gross sales of assets other than inventory

  securities $1,344,447

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

  securities $1,196,133

• 7c · Gain or loss

  securities $148,314

• 7d · Net gain or loss

  total $148,314 · excluded $148,314

• 8a · Fundraising events: gross income

  $94,325

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

  $286,013

• 8b · Fundraising events: direct expenses

  $140,322

• 8c · Net income from fundraising events

  total -$45,997 · excluded -$45,997

• 10a · Gross sales of inventory

  $239,944

• 10b · Cost of goods sold

  $158,720

• 10c · Net income from sales of inventory

  total $81,224 · excluded $81,224

• 11a · Other revenue: VENDING MACHINE COMMISSION

  total $1,870 · excluded $1,870

• 11d · All other revenue

  total $228,478 · excluded $228,478

• 11e · Other revenue, total

  $230,348

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $5,265,810 · program services $5,265,810

• 5 · Compensation of officers, directors and key employees

  total $938,148 · program services $138,109 · management and general $592,877 · fundraising $207,162

• 7 · Other salaries and wages

  total $12,369,114 · program services $7,179,576 · management and general $4,403,053 · fundraising $786,485

• 8 · Pension plan contributions

  total $502,139 · program services $333,191 · management and general $156,072 · fundraising $12,876

• 9 · Other employee benefits

  total $1,105,378 · program services $718,137 · management and general $357,441 · fundraising $29,800

• 10 · Payroll taxes

  total $935,798 · program services $535,548 · management and general $328,768 · fundraising $71,482

• 11b · Fees: legal

  total $62,279 · management and general $62,279

• 11c · Fees: accounting

  total $169,913 · management and general $169,913

• 11e · Fees: professional fundraising services

  total $232,866 · fundraising $232,866

• 11f · Fees: investment management

  total $53,447 · management and general $53,447

• 11g · Fees: other

  total $1,344,232 · program services $866,245 · management and general $417,850 · fundraising $60,137

• 12 · Advertising and promotion

  total $121,593 · program services $121,593

• 13 · Office expenses

  total $572,692 · program services $54,527 · management and general $326,114 · fundraising $192,051

• 14 · Information technology

  total $607,976 · program services $417,173 · management and general $176,810 · fundraising $13,993

• 16 · Occupancy

  total $308,275 · program services $226,235 · management and general $71,939 · fundraising $10,101

• 17 · Travel

  total $73,122 · management and general $57,194 · fundraising $15,928

• 20 · Interest

  total $634,365 · program services $482,173 · management and general $129,765 · fundraising $22,427

• 22 · Depreciation, depletion and amortization

  total $2,446,170 · program services $1,945,928 · management and general $409,734 · fundraising $90,508

• 23 · Insurance

  total $189,510 · program services $150,755 · management and general $31,743 · fundraising $7,012

• 24a · Other expenses: CLASSROOM/INSTRUCTIONAL

  total $1,336,673 · program services $1,336,673

• 24b · Other expenses: REPAIRS AND MAINTENANCE

  total $967,087 · program services $664,687 · management and general $271,752 · fundraising $30,648

• 24c · Other expenses: EVENT EXPENSES

  total $294,868 · program services $8,012 · management and general $139,474 · fundraising $147,382

• 24d · Other expenses: PROFESSIONAL ENRICHMENT

  total $253,073 · program services $32,712 · management and general $180,473 · fundraising $39,888

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $5,488,203 · end of year $932,475

• 2 · Savings and temporary cash investments

  beginning of year $4,895,998 · end of year $13,027,186

• 3 · Pledges and grants receivable

  beginning of year $1,576,892 · end of year $2,113,919

• 4 · Accounts receivable

  beginning of year $17,064,417 · end of year $17,933,518

• 8 · Inventories for sale or use

  beginning of year $88,610 · end of year $118,349

• 9 · Prepaid expenses and deferred charges

  beginning of year $302,591 · end of year $539,283

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

  $88,802,903

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

  $40,383,957

• 10c · Land, buildings and equipment, net

  beginning of year $50,584,327 · end of year $48,418,946

• 11 · Investments: publicly traded securities

  beginning of year $2,543,423 · end of year $27,864,670

• 12 · Investments: other securities

  beginning of year $26,216,756 · end of year $5,840,524

• 15 · Other assets

  beginning of year $1,189,760 · end of year $560,511

• 17 · Accounts payable and accrued expenses

  beginning of year $1,939,067 · end of year $2,018,164

• 19 · Deferred revenue

  beginning of year $19,952,879 · end of year $21,075,549

• 20 · Tax-exempt bond liabilities

  beginning of year $9,994,352 · end of year $9,524,669

• 23 · Secured mortgages and notes payable

  beginning of year $2,210,000 · end of year $2,185,000

• 25 · Other liabilities

  beginning of year $1,022,188 · end of year $932,959

• 27 · Net assets without donor restrictions

  beginning of year $47,615,832 · end of year $48,761,203

• 28 · Net assets with donor restrictions

  beginning of year $27,216,659 · end of year $32,851,837

The filer's explanations (Part III)

PART I, LINE 1A

PER THE HEAD OF SCHOOL CONTRACT, HER CHILDREN'S TUITION WITH A VALUE OF $66,900, PLUS $16,613 OF TAX GROSS-UP, IS INCLUDED IN TAXABLE INCOME. THIS AMOUNT IS INCLUDED IN NONTAXABLE BENEFITS ON PART II, COLUMN (D). THE HEAD OF SCHOOL IS REQUIRED TO LIVE IN A HOUSE LOCATED ON CAMPUS AS A CONDITION OF EMPLOYMENT. FOR 2023, THE VALUE OF THE HOUSING WAS CALCULATED AS $92,748. IN ADDITION, THERE WAS ALSO $10,740 IN CLEANING SERVICES. THESE AMOUNTS ARE INCLUDED IN NONTAXABLE BENEFITS ON PART II, COLUMN (D).

PART I, LINE 7

IN 2024, THE HEAD OF SCHOOL WAS PAID A BOARD-APPROVED DISCRETIONARY BONUS OF $15,000. THIS AMOUNT IS REPORTED ON PART II, COLUMN (B)(II).

PART I, LINE 8

WENDY BARNHART, INTERIM CFO HAS AN EMPLOYMENT CONTRACT WITH THE SCHOOL STARTING MARCH 2023 THROUGH JUNE 2024. SALLY KEIDEL, HEAD OF SCHOOL, HAS AN EMPLOYMENT CONTRACT WITH THE SCHOOL STARTING JULY 2023 THROUGH JUNE 2026.