Totals
- Total revenue
- $13,854,316
- Total expenses
- $14,171,955
- Contributions and grants received
- $1,151,797
- Grants paid
- $1,998,833
- Program service revenue
- $12,374,637
- Investment income
- $81,632
- Other revenue
- $246,250
- Total assets, end of year
- $24,797,275
- Total liabilities, end of year
- $8,528,833
- Net assets or fund balances, end of year
- $16,268,442
- Program services expenses (Part IX)
- $11,743,406
- Management and general expenses
- $1,920,188
- Fundraising expenses
- $508,361
- Program service expenses (Part III)
- $11,743,406
Program services were 82.9% 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
$1,151,797
-
1g · Noncash contributions included above
$128,742
-
2a · Program service revenue: TUITION
total $12,235,916 · related or exempt $12,235,916
-
2b · Program service revenue: AUXILIARY SERVICES
total $138,721 · related or exempt $138,721
-
3 · Investment income
total $81,632 · excluded $81,632
-
6a · Gross rents
real property $124,460
-
6b · Less rental expenses
real property $38,496
-
6c · Rental income or loss
real property $85,964
-
6d · Net rental income or loss
total $85,964 · excluded $85,964
-
8a · Fundraising events: gross income
$341,996
-
8b · Fundraising events: direct expenses
$182,710
-
8c · Net income from fundraising events
total $159,286 · excluded $159,286
-
11a · Other revenue: OTHER INCOME
total $1,000 · related or exempt $1,000
-
11e · Other revenue, total
$1,000
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $1,998,833 · program services $1,998,833
-
5 · Compensation of officers, directors and key employees
total $256,739 · program services $195,311 · management and general $42,722 · fundraising $18,706
-
7 · Other salaries and wages
total $5,384,485 · program services $4,096,188 · management and general $848,945 · fundraising $439,352
-
9 · Other employee benefits
total $301,609 · program services $229,445 · management and general $72,164
-
10 · Payroll taxes
total $465,424 · program services $332,859 · management and general $104,688 · fundraising $27,877
-
11f · Fees: investment management
total $13,915 · management and general $13,915
-
11g · Fees: other
total $1,172,968 · program services $857,638 · management and general $298,373 · fundraising $16,957
-
12 · Advertising and promotion
total $114,412 · management and general $114,412
-
14 · Information technology
total $43,297 · management and general $43,297
-
16 · Occupancy
total $338,698 · program services $335,188 · management and general $3,510
-
19 · Conferences, conventions and meetings
total $6,634 · management and general $3,349 · fundraising $3,285
-
20 · Interest
total $174,365 · program services $174,365
-
22 · Depreciation, depletion and amortization
total $750,250 · program services $750,250
-
23 · Insurance
total $107,157 · program services $107,157
-
24a · Other expenses: SCHOLARSHIPS
total $777,806 · program services $777,806
-
24b · Other expenses: DINING SERVICES
total $709,119 · program services $709,119
-
24c · Other expenses: ATHLETIC DEPARTMENT
total $367,994 · program services $367,994
-
24d · Other expenses: LEARNING RESOURCE PROGR
total $213,012 · program services $213,012
-
24e · All other expenses
total $975,238 · program services $598,241 · management and general $374,813 · fundraising $2,184
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $3,693,935 · end of year $3,524,862
-
2 · Savings and temporary cash investments
beginning of year $334,368 · end of year $266,372
-
3 · Pledges and grants receivable
beginning of year $448,236 · end of year $378,306
-
4 · Accounts receivable
beginning of year $51,563 · end of year $32,032
-
8 · Inventories for sale or use
beginning of year $32,442 · end of year $35,418
-
9 · Prepaid expenses and deferred charges
beginning of year $168,436 · end of year $170,472
-
10a · Land, buildings and equipment: cost or other basis
$31,850,770
-
10b · Land, buildings and equipment: accumulated depreciation
$14,967,075
-
10c · Land, buildings and equipment, net
beginning of year $17,483,313 · end of year $16,883,695
-
11 · Investments: publicly traded securities
beginning of year $2,761,603 · end of year $3,355,694
-
15 · Other assets
beginning of year $127,887 · end of year $150,424
-
17 · Accounts payable and accrued expenses
beginning of year $760,620 · end of year $765,283
-
19 · Deferred revenue
beginning of year $2,722,130 · end of year $2,681,365
-
20 · Tax-exempt bond liabilities
beginning of year $5,189,535 · end of year $4,905,591
-
23 · Secured mortgages and notes payable
beginning of year $149,387 · end of year $149,384
-
25 · Other liabilities
beginning of year $0 · end of year $27,210
-
27 · Net assets without donor restrictions
beginning of year $13,544,553 · end of year $13,310,270
-
28 · Net assets with donor restrictions
beginning of year $2,735,558 · end of year $2,958,172
Mission and programs · 2022
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 $11,743,406 · Grants $1,998,833 · Revenue $12,375,637
As filed on the 2022 return.
Listed in Part VII
-
Taylor FranklinTAYLOR FRANKLIN
VISE PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
Langbourne WilliamsLANGBOURNE WILLIAMS
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 2
-
William L Taliaferro JrWILLIAM L TALIAFERRO JR
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Alison CarlsmithALISON CARLSMITH
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
George M RectorGEORGE M RECTOR
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
William B BrockWILLIAM B BROCK
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Brian M ClementsBRIAN M CLEMENTS
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Greg MurphyGREG MURPHY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Pamela E CrenshawPAMELA E CRENSHAW
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Kenneth L EdmondKENNETH L EDMOND
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Virginia HitchVIRGINIA HITCH
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Marc A HriskoMARC A HRISKO
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Keith NewbyKEITH NEWBY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Thomas E MathasTHOMAS E MATHAS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Richard P Meredith JrRICHARD P MEREDITH JR
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Thomas Minton IIITHOMAS MINTON III
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Dr Sharon B ReedDR SHARON B REED
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Morgan ReddMORGAN REDD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Kasey E RosenKASEY E ROSEN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
John F SawyerJOHN F SAWYER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Andrew A ProtogyrouANDREW A PROTOGYROU
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Dr Elizabeth Ruth SmithDR ELIZABETH RUTH SMITH
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Trina S StewartTRINA S STEWART
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Levi ThomsonLEVI THOMSON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Scott G KennedySCOTT G KENNEDY
HEAD OF SCHOOL
- Total calculated
- $249,683
- From this org
- $234,537
- From related orgs
- $0
- Other
- $15,146
- Hours/week
- 60
Schedule J breakdown matched by us
- Base
- $234,537
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $234,537
-
Anne ClaywellANNE CLAYWELL
HEAD OF UPPER SCHOOL
- Total calculated
- $106,199
- From this org
- $105,505
- From related orgs
- $0
- Other
- $694
- Hours/week
- 40
-
Stacy NixonSTACY NIXON
ASSISTANT HEAD FOR ADVANCE
- Total calculated
- $139,534
- From this org
- $137,999
- From related orgs
- $0
- Other
- $1,535
- Hours/week
- 40
-
Cary SawyerCARY SAWYER
DIRECTOR OF FINANCE AND OP
- Total calculated
- $136,770
- From this org
- $127,306
- From related orgs
- $0
- Other
- $9,464
- 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.
-
NORFOLK COLLEGIATE EDUCATIONAL FOUNDATION INC
501(C)(3) · PROVIDE GRANTS TO NORFOLK COLLEGIATE SCHOOL FOR NEED-BASED FINANCIAL AID. · VA
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 8 February 2024
- IRS schema version
- 2022v5.0
- Source object
- 202430459349301403
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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