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← NORFOLK COLLEGIATE SCHOOL

Form 990 for tax year 2024

Filed by NORFOLK COLLEGIATE SCHOOL.

Totals

Total revenue
$16,493,255
Total expenses
$15,402,790
Contributions and grants received
$2,774,415
Grants paid
$3,160,173
Program service revenue
$13,410,191
Investment income
$125,453
Other revenue
$183,196
Total assets, end of year
$26,668,991
Total liabilities, end of year
$9,104,012
Net assets or fund balances, end of year
$17,564,979
Program services expenses (Part IX)
$12,759,349
Management and general expenses
$2,111,077
Fundraising expenses
$532,364
Program service expenses (Part III)
$12,759,349

Program services were 82.8% 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.

  • 1c · Fundraising events

    $61,583

  • 1f · All other contributions, gifts and grants

    $2,712,832

  • 1g · Noncash contributions included above

    $693,912

  • 2a · Program service revenue: TUITION

    total $13,137,141 · related or exempt $13,137,141

  • 2b · Program service revenue: AUXILIARY SERVICES

    total $273,050 · related or exempt $273,050

  • 3 · Investment income

    total $125,453 · excluded $125,453

  • 6a · Gross rents

    real property $171,520

  • 6b · Less rental expenses

    real property $30,818

  • 6c · Rental income or loss

    real property $140,702

  • 6d · Net rental income or loss

    total $140,702 · excluded $140,702

  • 8a · Fundraising events: gross income

    $189,534

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

    $61,583

  • 8b · Fundraising events: direct expenses

    $147,040

  • 8c · Net income from fundraising events

    total $42,494 · excluded $42,494

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $7,188 · program services $7,188

  • 2 · Grants to domestic individuals

    total $3,152,985 · program services $3,152,985

  • 5 · Compensation of officers, directors and key employees

    total $243,211 · program services $181,116 · management and general $45,010 · fundraising $17,085

  • 7 · Other salaries and wages

    total $6,114,713 · program services $4,553,545 · management and general $1,131,626 · fundraising $429,542

  • 9 · Other employee benefits

    total $380,884 · program services $283,639 · management and general $97,245

  • 10 · Payroll taxes

    total $539,851 · program services $369,942 · management and general $126,834 · fundraising $43,075

  • 11f · Fees: investment management

    total $21,669 · management and general $21,669

  • 11g · Fees: other

    total $1,248,233 · program services $974,137 · management and general $233,410 · fundraising $40,686

  • 12 · Advertising and promotion

    total $86,498 · management and general $86,498

  • 14 · Information technology

    total $44,969 · management and general $44,969

  • 16 · Occupancy

    total $340,468 · program services $329,349 · management and general $11,119

  • 19 · Conferences, conventions and meetings

    total $668 · management and general $584 · fundraising $84

  • 20 · Interest

    total $167,724 · program services $167,724

  • 22 · Depreciation, depletion and amortization

    total $781,671 · program services $781,671

  • 23 · Insurance

    total $128,055 · program services $128,055

  • 24a · Other expenses: DINING SERVICES

    total $774,886 · program services $774,886

  • 24b · Other expenses: ATHLETIC DEPARTMENT

    total $304,771 · program services $304,771

  • 24c · Other expenses: LEARNING RESOURCE PROGR

    total $243,611 · program services $243,611

  • 24d · Other expenses: EXTENDED CARE

    total $116,538 · program services $116,538

  • 24e · All other expenses

    total $704,197 · program services $390,192 · management and general $312,113 · fundraising $1,892

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,473,958 · end of year $3,359,599

  • 2 · Savings and temporary cash investments

    beginning of year $229,736 · end of year $305,149

  • 3 · Pledges and grants receivable

    beginning of year $312,196 · end of year $493,397

  • 4 · Accounts receivable

    beginning of year $128,786 · end of year $103,338

  • 8 · Inventories for sale or use

    beginning of year $31,797 · end of year $38,923

  • 9 · Prepaid expenses and deferred charges

    beginning of year $150,027 · end of year $136,362

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

    $33,089,873

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

    $16,201,681

  • 10c · Land, buildings and equipment, net

    beginning of year $16,372,171 · end of year $16,888,192

  • 11 · Investments: publicly traded securities

    beginning of year $4,051,447 · end of year $5,122,258

  • 15 · Other assets

    beginning of year $219,410 · end of year $221,773

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,051,746 · end of year $1,074,252

  • 19 · Deferred revenue

    beginning of year $2,928,475 · end of year $3,220,482

  • 20 · Tax-exempt bond liabilities

    beginning of year $4,613,114 · end of year $4,311,030

  • 23 · Secured mortgages and notes payable

    beginning of year $149,112 · end of year $485,966

  • 25 · Other liabilities

    beginning of year $31,407 · end of year $12,282

  • 27 · Net assets without donor restrictions

    beginning of year $12,758,233 · end of year $12,993,569

  • 28 · Net assets with donor restrictions

    beginning of year $3,437,441 · end of year $4,571,410

Mission and programs · 2024

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 $12,759,349 · Grants $3,160,173 · Revenue $13,410,191

As filed on the 2024 return.

Listed in Part VII

  • Taylor Franklin

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Langbourne Williams

    PAST CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • George M Rector

    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

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Virginia Hitch

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Thomas E Mathas

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Thomas Minton III

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Dr Sharon B Reed

    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

  • Meredith Larson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Andrew Castellano

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Bert B Henderson IV

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Andrew M Schaubach

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Katherine Taylor

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Levi Thomson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Gordon M Wolcott

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Scott G Kennedy

    HEAD OF SCHOOL

    Total calculated
    $251,376
    From this org
    $238,638
    From related orgs
    $0
    Other
    $12,738
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $238,638
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $8,099
    Filer's total
    $246,737

  • Anne C Claywell

    HEAD OF UPPER SCHOOL

    Total calculated
    $118,501
    From this org
    $111,931
    From related orgs
    $0
    Other
    $6,570
    Hours/week
    40

  • Stacy Nixon

    ASSISTANT HEAD FOR ADVANCE

    Total calculated
    $152,013
    From this org
    $150,154
    From related orgs
    $0
    Other
    $1,859
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,154
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $1,859
    Filer's total
    $152,013

  • Cary A Sawyer

    DIRECTOR OF FINANCE AND OP

    Total calculated
    $148,414
    From this org
    $135,670
    From related orgs
    $0
    Other
    $12,744
    Hours/week
    40

  • Nefertiti Makeda

    DIRECTOR OF DIVERSITY AND

    Total calculated
    $114,012
    From this org
    $107,496
    From related orgs
    $0
    Other
    $6,516
    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

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

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

  • NCS REAL ESTATE HOLDING LLC

    VA · income $647,129 · assets $978,560

    Directly controlled by NORFOLK COLLEGIATE SCHOOL

  • NC ACORN I

    VA · income $0 · assets $0

    Directly controlled by NCS REAL ESTATE HOLDING LLC

  • NC ACORN II

    VA · income $0 · assets $0

    Directly controlled by NCS REAL ESTATE HOLDING LLC

  • NC ACORN III

    VA · income $0 · assets $0

    Directly controlled by NCS REAL ESTATE HOLDING LLC

  • NC ACORN IV

    VA · income $0 · assets $0

    Directly controlled by NCS REAL ESTATE HOLDING LLC

  • NC ACORN V

    VA · income $0 · assets $0

    Directly controlled by NCS REAL ESTATE HOLDING LLC

  • NC ACORN VI

    VA · income $0 · assets $0

    Directly controlled by NCS REAL ESTATE HOLDING LLC

  • NC ACORN VII

    VA · income $0 · assets $0

    Directly controlled by NCS REAL ESTATE HOLDING LLC

Provenance

Return type
form_990
Tax year
2024
Filed
8 May 2026
IRS schema version
2024v5.5
Source object
202621319349303617

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