Groton School
- Assets
- $519.2m
- Revenue
- $50.7m
- Investments
- $148.8m
- Employees
- 241
- Location
- Groton, MA
- Founding
- 11/1934
- Data as of
- 06/2020
- 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 06/2021, Groton School employed 241 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 06/2020, Groton School generated $50.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (3.2%) each year. All expenses for the organization totaled $51.2m during the year ending 06/2020. 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
2020
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 383 STUDENTS IN GRADES EIGHT THROUGH TWELVE IN A NON-PROFIT, CO-EDUCATIONAL COLLEGE PREPARATORY BOARDING SCHOOL. THE SCHOOL PROVIDES AID ASSISTANCE FOR 47% 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 | $494,475 |
Julie Dolan Chief Financial Officer | Officer | 50 | $302,717 |
John Maceachern Director Of Development | 50 | $293,573 | |
Elizabeth Preston Chief Technology Officer | 50 | $184,388 | |
Harold W Anderson III Assistant Headmaster | 50 | $182,506 | |
Megan Harlan Assistant Headmaster | 50 | $166,807 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Consigli Construction Company Construction | 6/29/21 | $6,080,377 |
Jh Spain Commercial Services Construction | 6/29/21 | $3,379,777 |
Cambridge Associates Investment Advisor | 6/29/21 | $726,454 |
Flik Food Service | 6/29/21 | $1,506,498 |
Solect Energy Development Solar Energy | 6/29/21 | $1,085,615 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $17,078,009 |
| Investment income | $5,559,941 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$35,553 |
| Net Gain/Loss on Asset Sales | $7,050,104 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $20,416 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $50,710,312 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $7,395,411 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,147,903 |
| Compensation to disqualified persons | $152,718 |
| Other salaries and wages | $13,971,538 |
| Pension plan accruals and contributions | $2,533,633 |
| Other employee benefits | $3,236,277 |
| Payroll taxes | $928,472 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $225,538 |
| Fees for services: Accounting | $147,730 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,669,052 |
| Fees for services: Other | $1,531,918 |
| Advertising and promotion | $392,507 |
| Office expenses | $184,346 |
| Information technology | $470,678 |
| Royalties | $0 |
| Occupancy | $2,709,367 |
| Travel | $238,005 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $60,851 |
| Interest | $2,415,135 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,429,427 |
| Insurance | $349,869 |
| All other expenses | $0 |
| Total functional expenses | $51,159,807 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $59,455 |
| Savings and temporary cash investments | $2,032,581 |
| Pledges and grants receivable | $9,863,039 |
| Accounts receivable, net | $603,427 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $838 |
| Inventories for sale or use | $184,109 |
| Prepaid expenses and deferred charges | $331,712 |
| Investments—publicly traded securities | $215,301,804 |
| Investments—other securities | $148,814,816 |
| Investments—program-related | $15,797 |
| Intangible assets | $7,218,013 |
| Other assets | $0 |
| Total assets | $519,152,774 |
| Accounts payable and accrued expenses | $22,111,590 |
| Grants payable | $0 |
| Deferred revenue | $2,798,669 |
| Tax-exempt bond liabilities | $65,875,850 |
| 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 | $749,703 |
| Other liabilities | $12,958,870 |
| Total liabilities | $104,494,682 |
| 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 | $414,658,092 |
Grants Awarded
Over the last fiscal year, Groton School has awarded $159,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
TOWN OF GROTON PURPOSE: The contribution was made to help the Town of Groton subsidize their annual operating costs. | $153,000 |
SACRED HEART SCHOOL PURPOSE: Memorial contribution in memory of a faculty family member. | $6,000 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Groton School has recieved totaling $122,000.
| Awarding Organization | Amount |
|---|---|
Banwell Family Foundation Inc Charlotte, NC PURPOSE: ASSIST ORGANIZATIONWITH ITS NEEDSAND GOALS | $100,000 |
Marion W & Walter J Minton Foundation Inc Ponte Vedra Beach, FL PURPOSE: EDUCATIONAL | $12,500 |
Arthur D Weekes Jr Charitable Trust New York, NY PURPOSE: GENERAL OPERATING FUNDS | $5,000 |
The Patton Charitable Foundation Hobe Sound, FL PURPOSE: ANNUAL FUNDEDUCATIONSECONDARY | $4,000 |
Becton Family Foundation Tr Homosassa, FL PURPOSE: CONTRIBUTION TO ANNUAL SUPPORT | $500 |
Endowment Analysis
| Beg. Balance | $358,682,522 |
| Earnings | $130,230,943 |
| Net Contributions | $11,890,148 |
| Other Expense | $18,943,829 |
| Grants | $4,612,648 |
| Ending Balance | $477,247,136 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Choate Rosemary Hall Foundation Incorporated Wallingford, CT | $824,930,363 | $80,573,016 |
Hotchkiss School Lakeville, CT | $832,226,197 | $135,336,667 |
St Pauls School Concord, NH | $908,168,263 | $117,316,597 |
Trustees Of Deerfield Academy Deerfield, MA | $1,009,854,595 | $87,019,997 |
Taft School Corporation Watertown, CT | $447,949,060 | $83,525,324 |
Northfield Mount Hermon School Mount Hermon, MA | $279,135,089 | $64,524,302 |
Loomis Institute Windsor, CT | $445,458,169 | $66,028,387 |
Noble And Greenough School Dedham, MA | $357,051,555 | $55,304,957 |
Pinkerton Academy Derry, NH | $88,400,593 | $52,612,732 |
Groton School Groton, MA | $519,152,774 | $50,710,312 |
Kent School Corporation Kent, CT | $229,105,384 | $52,388,614 |
Hopkins School Incorporated New Haven, CT | $238,380,739 | $44,795,541 |