Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $260,019

• 1f · All other contributions, gifts and grants

  $7,199,534

• 1g · Noncash contributions included above

  $322,387

• 2a · Program service revenue: TUITION AND FEES

  total $39,514,590 · related or exempt $39,514,590

• 2b · Program service revenue: OTHER PROGRAM ACTIVITIES

  total $2,586,325 · related or exempt $2,586,325

• 2c · Program service revenue: DAYCARE

  total $810,440 · unrelated business $810,440

• 3 · Investment income

  total $242,884 · excluded $242,884

• 6a · Gross rents

  real property $741,647

• 6b · Less rental expenses

  real property $214,666

• 6c · Rental income or loss

  real property $526,981

• 6d · Net rental income or loss

  total $526,981 · excluded $526,981

• 7a · Gross sales of assets other than inventory

  securities $28,082,699

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

  securities $28,200,313

• 7c · Gain or loss

  securities -$117,614

• 7d · Net gain or loss

  total -$117,614 · unrelated business -$20,551 · excluded -$97,063

• 8a · Fundraising events: gross income

  $270,065

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

  $260,019

• 8b · Fundraising events: direct expenses

  $176,885

• 8c · Net income from fundraising events

  total $93,180 · excluded $93,180

• 10a · Gross sales of inventory

  $350,663

• 10b · Cost of goods sold

  $281,384

• 10c · Net income from sales of inventory

  total $69,279 · excluded $69,279

• 11d · All other revenue

  total $31,209 · related or exempt $31,209

• 11e · Other revenue, total

  $31,209

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $3,960,250 · program services $3,960,250

• 5 · Compensation of officers, directors and key employees

  total $3,681,061 · program services $2,775,162 · management and general $718,518 · fundraising $187,381

• 6 · Compensation of disqualified persons

  total $738,659 · program services $556,296 · management and general $145,731 · fundraising $36,632

• 7 · Other salaries and wages

  total $20,408,094 · program services $15,425,867 · management and general $3,876,513 · fundraising $1,105,714

• 8 · Pension plan contributions

  total $1,921,827 · program services $1,428,062 · management and general $430,583 · fundraising $63,182

• 9 · Other employee benefits

  total $6,570,557 · program services $4,882,418 · management and general $1,472,125 · fundraising $216,014

• 10 · Payroll taxes

  total $1,650,472 · program services $1,215,025 · management and general $327,061 · fundraising $108,386

• 11b · Fees: legal

  total $44,022 · management and general $44,022

• 11c · Fees: accounting

  total $115,802 · management and general $115,802

• 11f · Fees: investment management

  total $399,078 · management and general $399,078

• 11g · Fees: other

  total $160,582 · management and general $144,524 · fundraising $16,058

• 12 · Advertising and promotion

  total $402,640 · program services $350,297 · management and general $52,343

• 13 · Office expenses

  total $294,467 · program services $109,647 · management and general $137,099 · fundraising $47,721

• 16 · Occupancy

  total $453,315 · program services $386,517 · management and general $53,438 · fundraising $13,360

• 19 · Conferences, conventions and meetings

  total $400,247 · program services $360,222 · management and general $32,020 · fundraising $8,005

• 20 · Interest

  total $882,994 · program services $882,994

• 22 · Depreciation, depletion and amortization

  total $6,066,190 · program services $5,459,571 · management and general $485,295 · fundraising $121,324

• 23 · Insurance

  total $583,558 · management and general $571,887 · fundraising $11,671

• 24a · Other expenses: STUDENT SERVICES AND AC

  total $3,721,640 · program services $3,721,640

• 24b · Other expenses: REPAIRS & MAINTENANCE

  total $2,986,313 · program services $2,592,463 · management and general $334,124 · fundraising $59,726

• 24c · Other expenses: FOOD SERVICES

  total $1,296,885 · program services $1,167,196 · management and general $103,751 · fundraising $25,938

• 24d · Other expenses: EARLY CHILDHOOD/SUMMER

  total $270,205 · program services $270,205

• 24e · All other expenses

  total $531,933 · program services $292,246 · management and general $161,670 · fundraising $78,017

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $5,085 · end of year $3,852

• 2 · Savings and temporary cash investments

  beginning of year $25,057,660 · end of year $26,287,248

• 3 · Pledges and grants receivable

  beginning of year $13,383,047 · end of year $9,089,729

• 4 · Accounts receivable

  beginning of year $1,285,040 · end of year $425,619

• 9 · Prepaid expenses and deferred charges

  beginning of year $852,829 · end of year $1,688,809

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

  $190,288,968

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

  $65,152,547

• 10c · Land, buildings and equipment, net

  beginning of year $127,979,007 · end of year $125,136,421

• 11 · Investments: publicly traded securities

  beginning of year $60,107,384 · end of year $70,468,104

• 12 · Investments: other securities

  beginning of year $62,677,647 · end of year $68,065,754

• 17 · Accounts payable and accrued expenses

  beginning of year $4,497,114 · end of year $5,325,838

• 19 · Deferred revenue

  beginning of year $20,613,921 · end of year $20,535,123

• 20 · Tax-exempt bond liabilities

  beginning of year $28,984,002 · end of year $28,407,313

• 27 · Net assets without donor restrictions

  beginning of year $181,017,550 · end of year $193,413,561

• 28 · Net assets with donor restrictions

  beginning of year $56,235,112 · end of year $53,483,701

The filer's explanations (Part III)

PART I, LINE 1A

THE HEAD OF SCHOOL OCCASIONALLY TRAVELS FIRST CLASS FOR LONGER TRIPS.

PART I, LINE 1B

THE GREENWICH ACADEMY PROVIDES ON-CAMPUS HOUSING AS A CONDITION OF EMPLOYMENT FOR THE HEAD OF SCHOOL. THE FAIR VALUE OF THE HOUSING IS INCLUDED AS A NONTAXABLE BENEFIT ON SCHEDULE J, PART II, COLUMN (D). THE CONTRACT ALSO INCLUDES A PROVISION FOR HOUSEKEEPING SERVICES TO MAINTAIN THE HOUSE FOR SPECIAL EVENTS.

PART I, LINE 7

THE HEAD OF SCHOOL IS ELIGIBLE AT THE END OF EACH ACADEMIC YEAR BASED UPON THE ACHIEVEMENT OF AGREED UPON GOALS FOR A BONUS TO BE DETERMINED AT THE BOARD'S DISCRETION. BONUSES ARE PAID TO INDIVIDUALS BASED ON PERFORMANCE METRICS. BONUS AMOUNTS ARE INCLUDED IN PART II, COLUMN B(II).