Groton School
- Assets
- $639.9m
- Revenue
- $71.0m
- Investments
- $230.1m
- Employees
- 235
- Location
- Groton, MA
- Founding
- 11/1934
- Data as of
- 06/2021
- EIN
- 04-2104265
Organization Overview
Groton School is located in Groton, MA. The organization was established in 1934. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 06/2022, Groton School employed 235 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Groton School is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Groton School generated $71.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $54.9m during the year ending 06/2021. While expenses have increased by 2.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
GROTON SCHOOL PROVIDES COLLEGE AND UNIVERSITY PREPARATORY EDUCATION FOR STUDENTS IN GRADES EIGHT TO TWELVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION OF 377 STUDENTS IN GRADES EIGHT THROUGH TWELVE IN A NON-PROFIT, CO-EDUCATIONAL COLLEGE PREPARATORY BOARDING SCHOOL. THE SCHOOL PROVIDES AID ASSISTANCE FOR 44% OF ITS STUDENTS IN THE FORM OF TUITION GRANTS, HOUSING SUPPORT, TRAVEL ASSISTANCE, AND SUBSIDIES FOR BOOKS, SUPPLIES, AND LAPTOP PURCHASES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Temba Maqubela Headmaster | OfficerTrustee | 60 | $557,609 |
Julie Dolan Chief Financial Officer | Officer | 50 | $321,655 |
John Maceachern Director Of Development | 50 | $297,712 | |
Harold W Anderson III Assistant Headmaster | 50 | $186,647 | |
Megan Harlan Assistant Headmaster | 50 | $180,661 | |
Ian Gracey Director Of Admissions | 50 | $170,955 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Flik Food Service | 6/29/22 | $1,980,429 |
Cic Health Llc Public Health Resiliency Services | 6/29/22 | $1,095,975 |
Cambridge Associates Investment Advisor | 6/29/22 | $879,952 |
Eagle Cleaning Corporation Cleaning Service | 6/29/22 | $637,079 |
Consigli Construction Company Construction | 6/29/22 | $575,470 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $21,680,439 |
| Investment income | $4,593,195 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$68,085 |
| Net Gain/Loss on Asset Sales | $22,850,031 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $18,985 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $71,039,183 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $7,596,192 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,027,946 |
| Compensation to disqualified persons | $147,387 |
| Other salaries and wages | $13,883,119 |
| Pension plan accruals and contributions | $2,891,820 |
| Other employee benefits | $3,160,084 |
| Payroll taxes | $961,107 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $181,321 |
| Fees for services: Accounting | $155,836 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,692,697 |
| Fees for services: Other | $486,788 |
| Advertising and promotion | $383,604 |
| Office expenses | $196,440 |
| Information technology | $533,815 |
| Royalties | $0 |
| Occupancy | $3,168,340 |
| Travel | $20,651 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $19,978 |
| Interest | $2,226,327 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,627,281 |
| Insurance | $421,804 |
| All other expenses | $0 |
| Total functional expenses | $54,862,923 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $81,562 |
| Savings and temporary cash investments | $3,189,434 |
| Pledges and grants receivable | $12,454,150 |
| Accounts receivable, net | $550,572 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $156,730 |
| Prepaid expenses and deferred charges | $360,872 |
| Investments—publicly traded securities | $253,425,285 |
| Investments—other securities | $230,094,830 |
| Investments—program-related | $15,797 |
| Intangible assets | $7,218,013 |
| Other assets | $0 |
| Total assets | $639,928,563 |
| Accounts payable and accrued expenses | $14,772,375 |
| Grants payable | $0 |
| Deferred revenue | $3,336,153 |
| Tax-exempt bond liabilities | $64,445,175 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,257,077 |
| Total liabilities | $92,810,780 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $547,117,783 |
Grants Awarded
Over the last fiscal year, Groton School has awarded $216,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
TOWN OF GROTON PURPOSE: The contribution was made to help the Town of Groton subsidize their annual operating costs. | $156,000 |
TOWN OF GROTON PURPOSE: The contribution was made to support the Town of Groton and subsidize the cost of new sidewalks. | $35,000 |
THE CHILDRENS CENTER AT GROTON PURPOSE: The contribution was made to support the Children's Center efforts to recruit new teachers. | $25,000 |