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Nonprofiteer
← BULLIS SCHOOL INC

Form 990 for tax year 2022

Filed by BULLIS SCHOOL INC.

Totals

Total revenue
$54,408,274
Total expenses
$48,482,601
Contributions and grants received
$3,424,507
Grants paid
$8,402,462
Program service revenue
$49,957,781
Investment income
$649,917
Other revenue
$376,069
Total assets, end of year
$127,958,968
Total liabilities, end of year
$68,637,910
Net assets or fund balances, end of year
$59,321,058
Program services expenses (Part IX)
$41,155,381
Management and general expenses
$5,857,471
Fundraising expenses
$1,469,749
Program service expenses (Part III)
$41,155,381

Program services were 84.9% 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.

  • 1c · Fundraising events

    $192,309

  • 1f · All other contributions, gifts and grants

    $3,232,198

  • 1g · Noncash contributions included above

    $192,276

  • 2a · Program service revenue: TUITION/FEES

    total $47,179,418 · related or exempt $47,179,418

  • 2b · Program service revenue: SUMMER PROGRAMS

    total $1,277,988 · related or exempt $1,277,988

  • 2c · Program service revenue: STUDENT ACTIVITIES

    total $953,532 · related or exempt $953,532

  • 2d · Program service revenue: TRANSPORTATION

    total $436,668 · related or exempt $436,668

  • 2e · Program service revenue: AUXILIARY

    total $110,175 · related or exempt $110,175

  • 3 · Investment income

    total $623,024 · excluded $623,024

  • 6a · Gross rents

    real property $290,499

  • 6b · Less rental expenses

    real property $144,376

  • 6c · Rental income or loss

    real property $146,123

  • 6d · Net rental income or loss

    total $146,123 · excluded $146,123

  • 7a · Gross sales of assets other than inventory

    securities $5,053,192

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

    securities $5,026,299

  • 7c · Gain or loss

    securities $26,893

  • 7d · Net gain or loss

    total $26,893 · excluded $26,893

  • 8a · Fundraising events: gross income

    $129,600

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

    $192,309

  • 8b · Fundraising events: direct expenses

    $187,584

  • 8c · Net income from fundraising events

    total -$57,984 · excluded -$57,984

  • 10a · Gross sales of inventory

    $311,226

  • 10b · Cost of goods sold

    $164,064

  • 10c · Net income from sales of inventory

    total $147,162 · excluded $147,162

  • 11d · All other revenue

    total $140,768 · related or exempt $140,768

  • 11e · Other revenue, total

    $140,768

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $8,402,462 · program services $8,402,462

  • 5 · Compensation of officers, directors and key employees

    total $1,280,320 · program services $1,030,950 · management and general $212,760 · fundraising $36,610

  • 7 · Other salaries and wages

    total $19,157,786 · program services $15,417,905 · management and general $3,191,860 · fundraising $548,021

  • 8 · Pension plan contributions

    total $1,204,322 · program services $975,173 · management and general $194,849 · fundraising $34,300

  • 9 · Other employee benefits

    total $1,986,131 · program services $1,608,225 · management and general $321,339 · fundraising $56,567

  • 10 · Payroll taxes

    total $1,436,131 · program services $1,162,875 · management and general $232,354 · fundraising $40,902

  • 11b · Fees: legal

    total $79,790 · management and general $79,790

  • 11c · Fees: accounting

    total $63,000 · management and general $63,000

  • 11f · Fees: investment management

    total $49,917 · management and general $49,917

  • 11g · Fees: other

    total $1,611,643 · program services $1,267,922 · management and general $182,468 · fundraising $161,253

  • 12 · Advertising and promotion

    total $97,759 · program services $1,900 · management and general $95,385 · fundraising $474

  • 13 · Office expenses

    total $2,358,148 · program services $2,165,221 · management and general $180,752 · fundraising $12,175

  • 14 · Information technology

    total $437,755 · program services $413,981 · management and general $22,311 · fundraising $1,463

  • 16 · Occupancy

    total $656,750 · program services $620,512 · management and general $34,008 · fundraising $2,230

  • 17 · Travel

    total $34,037 · program services $8,209 · management and general $17,005 · fundraising $8,823

  • 19 · Conferences, conventions and meetings

    total $170,361 · program services $97,866 · management and general $68,788 · fundraising $3,707

  • 20 · Interest

    total $1,132,882 · program services $810,011 · management and general $302,479 · fundraising $20,392

  • 22 · Depreciation, depletion and amortization

    total $2,913,671 · program services $2,752,900 · management and general $150,877 · fundraising $9,894

  • 23 · Insurance

    total $468,736 · program services $357,908 · management and general $103,828 · fundraising $7,000

  • 24a · Other expenses: STUDENT PROGRAMS

    total $2,015,549 · program services $2,015,549 · management and general $0 · fundraising $0

  • 24b · Other expenses: FOOD

    total $585,615 · program services $541,052 · management and general $42,535 · fundraising $2,028

  • 24c · Other expenses: DEPARTMENT EXPENSES

    total $585,191 · program services $518,515 · management and general $61,619 · fundraising $5,057

  • 24d · Other expenses: ATHLETIC CLOTHING

    total $231,144 · program services $225,660 · management and general $5,146 · fundraising $338

  • 24e · All other expenses

    total $1,523,501 · program services $760,585 · management and general $244,401 · fundraising $518,515

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $16,479,588 · end of year $10,025,819

  • 2 · Savings and temporary cash investments

    beginning of year $11,307,628 · end of year $33,046,065

  • 3 · Pledges and grants receivable

    beginning of year $457,388 · end of year $1,233,354

  • 4 · Accounts receivable

    beginning of year $204,927 · end of year $4,077

  • 8 · Inventories for sale or use

    beginning of year $73,024 · end of year $99,517

  • 9 · Prepaid expenses and deferred charges

    beginning of year $514,369 · end of year $640,720

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

    $101,281,523

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

    $43,095,903

  • 10c · Land, buildings and equipment, net

    beginning of year $57,145,564 · end of year $58,185,620

  • 11 · Investments: publicly traded securities

    beginning of year $11,291,876 · end of year $23,466,804

  • 14 · Intangible assets

    beginning of year $271,558 · end of year $953,796

  • 15 · Other assets

    beginning of year $734,352 · end of year $303,196

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,579,651 · end of year $2,435,217

  • 19 · Deferred revenue

    beginning of year $16,921,356 · end of year $17,674,336

  • 20 · Tax-exempt bond liabilities

    beginning of year $28,050,974 · end of year $47,992,355

  • 21 · Escrow or custodial account liability

    beginning of year $99,284 · end of year $162,634

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $17,929 · end of year $373,368

  • 27 · Net assets without donor restrictions

    beginning of year $47,669,169 · end of year $53,866,116

  • 28 · Net assets with donor restrictions

    beginning of year $4,141,911 · end of year $5,454,942

Mission and programs · 2022

Mission

BULLIS SCHOOL PROVIDES A STUDENT-CENTERED BALANCED EXPERIENCE IN ACADEMICS, ARTS, ATHLETICS AND COMMUNITY SERVICE. BULLIS UNIQUELY PREPARES ALL STUDENTS TO BECOME CARING CITIZENS AND CREATIVE, CRITICAL THINKERS WHO WILL THRIVE IN TOMORROW'S WORLD.

Activities or mission (Part I)

BULLIS SCHOOL PROVIDES A STUDENT-CENTERED BALANCED EXPERIENCE IN ACADEMICS, ARTS, ATHLETICS AND COMMUNITY SERVICE. BULLIS UNIQUELY PREPARES ALL STUDENTS TO BECOME CARING CITIZENS AND CREATIVE, CRITICAL THINKERS WHO WILL THRIVE IN TOMORROW'S WORLD. THE SCHOOL'S VISION IS TO BE THE INDEPENDENT SCHOOL OF CHOICE FOR FAMILIES WHO SEEK AN EXTRAORDINARY EDUCATIONAL EXPERIENCE WHICH DEVELOPS GLOBAL LEADERS WHO ENTHUSIASTICALLY EMBRACE CHALLENGE, EXHIBIT STRONG CHARACTER AND CULTIVATE COMMUNITY. BULLIS SCHOOL'S CORE ACADEMIC VALUES FOSTER CRITICAL THINKING, COLLABORATION, COMMUNICATION, RESOURCEFULNESS AND CREATIVITY IN OUR STUDENTS, AND WE UPHOLD CORE INSTITUTIONAL VALUES THAT MODEL AND PRACTICE INTEGRITY, RESPECT, DIVERSITY, SERVICE AND RESPONSIBILITY WITHIN THE SCHOOL COMMUNITY AND IN ANY OUTREACH.

  • THE SCHOOL PROVIDES CO-EDUCATIONAL ELEMENTARY AND SECONDARY SCHOOL EDUCATION TO STUDENTS IN GRADES K THROUGH 12, PROMOTES DIVERSITY, AND OFFERS AN INDEPENDENT SCHOOL EDUCATION TO ELIGIBLE STUDENTS REGARDLESS OF FINANCIAL ABILITY.

    Expenses $41,155,381 · Grants $8,402,462 · Revenue $50,098,549

As filed on the 2022 return.

Listed in Part VII

  • Adam Greenberg

    OUTGOING TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Brett Bernstein

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Claudia Helmig

    OUTGOING TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Cyndi Bullis Vasco

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • David A Pepper

    TREASURER

    Total calculated
    $0
    Hours/week
    10

  • Drew Mannes

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Emine Sandi

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Helen Stefan Moreau

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Hillary Baltimore

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    10

  • Jonathan Halle

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Lisa Robinson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Livia Christensen

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Marcus Shaw

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Margaret Bonham

    OUTGOING TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Mickel Blair

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Muriel Suggs

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Patrick Caulfield

    CHAIR

    Total calculated
    $0
    Hours/week
    10

  • Paul Mavrikes

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Paula Widerlite

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Pinkie Mayfield

    SECRETARY

    Total calculated
    $0
    Hours/week
    10

  • Raj Khera

    OUTGOING TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Robert Miller

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Samier Mansur

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Shawn Till

    OUTGOING TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Susan Richman

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Christian Sullivan

    HEAD OF SCHOOL

    Total calculated
    $755,315
    From this org
    $694,841
    From related orgs
    $0
    Other
    $60,474
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $644,841
    Bonus
    $50,000
    Other
    $0
    Deferred
    $21,350
    Nontaxable benefits
    $39,124
    Filer's total
    $755,315

  • Rachel Venezian

    CHIEF FINANCIAL OFFICER

    Total calculated
    $276,949
    From this org
    $248,689
    From related orgs
    $0
    Other
    $28,260
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $223,689
    Bonus
    $25,000
    Other
    $0
    Deferred
    $15,850
    Nontaxable benefits
    $12,410
    Filer's total
    $276,949

  • Timothy D Simpson

    ASSOCIATE HEAD OF SCHOOL

    Total calculated
    $327,386
    From this org
    $201,583
    From related orgs
    $0
    Other
    $125,803
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $201,583
    Bonus
    $0
    Other
    $0
    Deferred
    $14,966
    Nontaxable benefits
    $110,837
    Filer's total
    $327,386

  • Robert Pollicino

    HEAD OF UPPER SCHOOL

    Total calculated
    $357,267
    From this org
    $200,576
    From related orgs
    $0
    Other
    $156,691
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $200,576
    Bonus
    $0
    Other
    $0
    Deferred
    $14,742
    Nontaxable benefits
    $141,949
    Filer's total
    $357,267

  • Xiumin H Overall

    ASSOCIATE HEAD OF SCHOOL

    Total calculated
    $201,371
    From this org
    $167,280
    From related orgs
    $0
    Other
    $34,091
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $167,280
    Bonus
    $0
    Other
    $0
    Deferred
    $19,537
    Nontaxable benefits
    $14,554
    Filer's total
    $201,371

  • James Dickie

    EXECUTIVE DIRECTOR OF TECH

    Total calculated
    $162,451
    From this org
    $145,914
    From related orgs
    $0
    Other
    $16,537
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,914
    Bonus
    $0
    Other
    $0
    Deferred
    $10,458
    Nontaxable benefits
    $6,079
    Filer's total
    $162,451

  • Marilyn Moreno

    HEAD OF MIDDLE SCHOOL

    Total calculated
    $184,439
    From this org
    $171,488
    From related orgs
    $0
    Other
    $12,951
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $171,488
    Bonus
    $0
    Other
    $0
    Deferred
    $11,973
    Nontaxable benefits
    $978
    Filer's total
    $184,439

  • Bruce F Kelley

    US MATH TEACHER/BASKETBALL COACH

    Total calculated
    $190,577
    From this org
    $146,531
    From related orgs
    $0
    Other
    $44,046
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,531
    Bonus
    $0
    Other
    $0
    Deferred
    $6,522
    Nontaxable benefits
    $37,524
    Filer's total
    $190,577

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

  • 1a · Housing allowance or residence for personal use
  • 1a · Personal services (maid, chauffeur, chef)
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
HOUSING THAT QUALIFIES FOR EXCLUSION FROM GROSS INCOME UNDER INTERNAL REVENUE CODE SECTION 119(A) IS PROVIDED TO THE HEAD OF SCHOOL. AS A CONDITION OF EMPLOYMENT, THE HEAD OF SCHOOL IS REQUIRED TO LIVE ON THE SCHOOL'S CAMPUS WHICH IS FURNISHED AND MAINTAINED AT THE SCHOOL'S EXPENSE. THE HEAD OF SCHOOL REGULARLY CONDUCTS BUSINESS MEETINGS IN THE RESIDENCE, HOSTS OFFICIAL BUSINESS EVENTS, AND OTHER WORK-RELATED ACTIVITIES IN THE RESIDENCE. GENERAL HOUSEKEEPING FOR THE UPKEEP OF THE BUSINESS PORTION OF THE RESIDENCE IS ALSO PROVIDED AND INCLUDED IN THE NON-TAXABLE HOUSING ALLOWANCE REPORTED IN PART II COLUMN D.
PART I, LINE 7
PERFORMANCE-BASED BONUSES ARE AWARDED TO EMPLOYEES AND ARE REPORTED IN PART II COLUMN B(II).

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.

Provenance

Return type
form_990
Tax year
2022
Filed
2 May 2024
IRS schema version
2022v5.0
Source object
202401239349300435

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