Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $131,139

• 1e · Government grants (contributions)

  $1,027,114

• 1f · All other contributions, gifts and grants

  $2,245,481

• 1g · Noncash contributions included above

  $4,957

• 2a · Program service revenue: TUITION & FEES

  total $19,660,523 · related or exempt $19,660,523

• 2b · Program service revenue: SUMMER PROGRAMS

  total $876,446 · related or exempt $876,446

• 3 · Investment income

  total $652,389 · excluded $652,389

• 6a · Gross rents

  real property $41,340

• 6b · Less rental expenses

  real property $4,521

• 6c · Rental income or loss

  real property $36,819

• 6d · Net rental income or loss

  total $36,819 · excluded $36,819

• 8a · Fundraising events: gross income

  $96,060

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

  $131,139

• 8b · Fundraising events: direct expenses

  $99,847

• 8c · Net income from fundraising events

  total -$3,787 · excluded -$3,787

• 9a · Gaming: gross income

  $16,325

• 9b · Gaming: direct expenses

  $0

• 9c · Net income from gaming

  total $16,325 · excluded $16,325

• 10a · Gross sales of inventory

  $3,669

• 10b · Cost of goods sold

  $1,797

• 10c · Net income from sales of inventory

  total $1,872 · excluded $1,872

• 11a · Other revenue: OTHER REVENUE

  total $94,927 · excluded $94,927

• 11e · Other revenue, total

  $94,927

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $2,556,760 · program services $2,556,760

• 5 · Compensation of officers, directors and key employees

  total $631,306 · program services $408,990 · management and general $197,211 · fundraising $25,105

• 7 · Other salaries and wages

  total $9,842,410 · program services $6,376,309 · management and general $3,074,705 · fundraising $391,396

• 8 · Pension plan contributions

  total $368,691 · program services $239,649 · management and general $114,294 · fundraising $14,748

• 9 · Other employee benefits

  total $2,289,632 · program services $1,483,070 · management and general $695,984 · fundraising $110,578

• 10 · Payroll taxes

  total $777,077 · program services $505,100 · management and general $240,894 · fundraising $31,083

• 11b · Fees: legal

  total $19,236 · program services $16,513 · management and general $2,437 · fundraising $286

• 11c · Fees: accounting

  total $67,785 · management and general $67,785

• 12 · Advertising and promotion

  total $99,877 · program services $1,731 · management and general $98,146

• 13 · Office expenses

  total $196,254 · program services $137,684 · management and general $48,990 · fundraising $9,580

• 14 · Information technology

  total $231,964 · program services $174,446 · management and general $56,847 · fundraising $671

• 16 · Occupancy

  total $1,595,829 · program services $1,401,427 · management and general $173,918 · fundraising $20,484

• 17 · Travel

  total $156,780 · program services $156,780

• 20 · Interest

  total $434,298 · program services $380,315 · management and general $48,424 · fundraising $5,559

• 22 · Depreciation, depletion and amortization

  total $1,435,580 · program services $1,257,138 · management and general $160,067 · fundraising $18,375

• 23 · Insurance

  total $101,760 · program services $89,111 · management and general $11,346 · fundraising $1,303

• 24a · Other expenses: PROGRAM SUPPLIES & EXP

  total $1,380,472 · program services $1,380,472

• 24b · Other expenses: FOOD/FOOD SERVICE

  total $277,660 · program services $277,660

• 24c · Other expenses: OFFICE MANAGEMENT

  total $274,935 · management and general $200,239 · fundraising $74,696

• 24d · Other expenses: PROF. DEVELOPMENT

  total $122,211 · program services $112,553 · management and general $9,658

• 24e · All other expenses

  total $394,622 · program services $87,696 · management and general $291,775 · fundraising $15,151

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $25,321 · end of year $55,930

• 2 · Savings and temporary cash investments

  beginning of year $9,310,966 · end of year $7,675,940

• 3 · Pledges and grants receivable

  beginning of year $626,084 · end of year $1,803,249

• 4 · Accounts receivable

  beginning of year $13,551,660 · end of year $13,996,566

• 8 · Inventories for sale or use

  beginning of year $3,546 · end of year $2,237

• 9 · Prepaid expenses and deferred charges

  beginning of year $431,393 · end of year $470,853

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

  $41,086,083

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

  $15,636,343

• 10c · Land, buildings and equipment, net

  beginning of year $25,859,803 · end of year $25,449,740

• 11 · Investments: publicly traded securities

  beginning of year $11,516,628 · end of year $15,035,110

• 12 · Investments: other securities

  beginning of year $4,006,549 · end of year $4,789,467

• 15 · Other assets

  beginning of year $0 · end of year $278,055

• 17 · Accounts payable and accrued expenses

  beginning of year $1,279,036 · end of year $1,860,022

• 19 · Deferred revenue

  beginning of year $15,492,213 · end of year $16,293,207

• 20 · Tax-exempt bond liabilities

  beginning of year $14,506,183 · end of year $14,079,681

• 23 · Secured mortgages and notes payable

  beginning of year $235,547 · end of year $178,804

• 24 · Unsecured notes and loans payable

  end of year $15,000

• 25 · Other liabilities

  beginning of year $392,683 · end of year $298,947

• 27 · Net assets without donor restrictions

  beginning of year $21,082,910 · end of year $22,195,745

• 28 · Net assets with donor restrictions

  beginning of year $12,343,378 · end of year $14,635,741

The filer's explanations (Part III)

PART I, LINE 7

MATTHEW NESPOLE, HEAD OF SCHOOL, RECEIVED A PERFORMANCE BONUS IN THE AMOUNT OF $25,000 DURING THE CALENDAR YEAR 2022.

Disregarded entities

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

• DOVE LANE LLC

  REAL ESTATE HOLDING COMPANY · MD · income $41,340 · assets $125,480

  Directly controlled by KEY SCHOOL INC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• THE KEY SCHOOL BUILDING & FINANCE CORP

  C · DORMANT · MD · 100% owned

  Directly controlled by KEY SCHOOL INC