St Michaels Country Day School
- Assets
- $9.7m
- Revenue
- $7.6m
- Investments
- $0.0
- Employees
- 146
- Location
- Newport, RI
- Founding
- 02/1977
- Data as of
- 06/2023
- EIN
- 05-0369037
Organization Overview
St Michaels Country Day School is located in Newport, RI. The organization was established in 1977. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2023, St Michaels Country Day School employed 146 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. St Michaels Country Day 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 06/2023, St Michaels Country Day School generated $7.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $6.9m during the year ending 06/2023. While expenses have increased by 2.5% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
DEVELOP COURAGEOUS LEARNERS AND CARING CITIZENS WHO ARE WORLD READY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING OF ELEMENTARY SCHOOL EDUCATION (GRADES PRESCHOOL THROUGH GRADE 8) SERVING APPROXIMATELY 238 STUDENTS DURING FY 2023.
PROVISION OF SPECIAL PROGRAMS CONSISTING OF MUSIC, AFTER-SCHOOL ACTIVITIES, TUTORING, SUMMER AND THEATER CAMPS, WHICH ARE PROVIDED OUTSIDE OF REGULAR CLASS WORK, FOR APPROXIMATELY 654 STUDENTS DURING FY 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Walter Landberg Head Of School | OfficerTrustee | 50 | $215,305 |
James Powell Treasurer | OfficerTrustee | 8 | $0 |
Amy Martin Chair | OfficerTrustee | 8 | $0 |
Susan Lovejoy Secretary | OfficerTrustee | 8 | $0 |
Andrew Salem Vice Chair | OfficerTrustee | 8 | $0 |
Isabella Dana Ridall Trustee | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $97,587 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $771,651 |
| Noncash contributions included in lines 1a–1f | $173,989 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $869,238 |
| Total Program Service Revenue | $6,826,814 |
| Investment income | $18,334 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $26,890 |
| Net Gain/Loss on Asset Sales | -$131,014 |
| Net Income from Fundraising Events | -$64,299 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,562,470 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,538,142 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $425,408 |
| Compensation of current officers, directors, key employees. | $425,408 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,721,743 |
| Pension plan accruals and contributions | $107,139 |
| Other employee benefits | $541,662 |
| Payroll taxes | $238,473 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $19,539 |
| Fees for services: Accounting | $22,175 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $17,421 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,242 |
| Office expenses | $12,685 |
| Information technology | $20,611 |
| Royalties | $0 |
| Occupancy | $128,051 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $12,349 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $396,252 |
| Insurance | $62,950 |
| All other expenses | $53,252 |
| Total functional expenses | $6,930,121 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $253,203 |
| Savings and temporary cash investments | $1,026,252 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $111,049 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $82,202 |
| Net Land, buildings, and equipment | $5,708,276 |
| Investments—publicly traded securities | $2,502,145 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,683,127 |
| Accounts payable and accrued expenses | $541,097 |
| Grants payable | $0 |
| Deferred revenue | $651,551 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $139,560 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,332,208 |
| Net assets without donor restrictions | $6,157,215 |
| Net assets with donor restrictions | $2,193,704 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $9,683,127 |