Kent School Corporation
- Assets
- $229.1m
- Revenue
- $52.4m
- Investments
- $29.3m
- Employees
- 308
- Location
- Kent, CT
- Founding
- 04/1938
- Data as of
- 06/2021
- EIN
- 06-0646687
Organization Overview
Kent School Corporation is located in Kent, CT. The organization was established in 1938. 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, Kent School Corporation employed 308 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kent School Corporation 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, Kent School Corporation generated $52.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $46.4m during the year ending 06/2021. While expenses have increased by 2.2% 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
NON-PROFIT, INDEPENDENT, PREPARATORY SCHOOL; EDUCATING APP. 470 BOARDING AND 50 DAY STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INDEPENDENT, CO-EDUCATIONAL PREPARATORY SCHOOL; EDUCATING BOTH BOARDING AND DAY STUDENTS. SIMPLICITY OF LIFE, SELF-RELIANCE AND DIRECTNESS OF PURPOSE ARE ESPECIALLY ENCOURAGED IN ALL STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richardson W Schell Former Headmaster | 0 | $457,942 | |
Jeffrey D Cataldo CFO & Coo, Asst. Treasurer | Officer | 50 | $305,465 |
Brian Sullivan Director Of External Affairs | 50 | $262,926 | |
Michael Hirschfeld Head Of School, Secretary | Officer | 60 | $193,432 |
Catherine Mazza Alumni Secretary | 50 | $139,365 | |
Todd Marble Director Of Planned Giving | 50 | $135,306 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Perkins Coie Legal Services | 6/29/21 | $247,422 |
Segalla Turnkey Housing Llc Construction Services | 6/29/21 | $524,416 |
William C Gawel Excavating Services | 6/29/21 | $177,958 |
Jack Ferguson Associates Inc Lobbyist | 6/29/21 | $210,000 |
Day Pitney Legal Services | 6/29/21 | $170,818 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,015,011 |
| Investment income | $2,561,001 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,642,835 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $28,336 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $52,388,614 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $8,236,180 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,266,651 |
| Compensation to disqualified persons | $118,866 |
| Other salaries and wages | $13,147,427 |
| Pension plan accruals and contributions | $1,472,504 |
| Other employee benefits | $3,535,439 |
| Payroll taxes | $966,781 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $572,170 |
| Fees for services: Accounting | $86,755 |
| Fees for services: Lobbying | $170,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $558,677 |
| Fees for services: Other | $121,114 |
| Advertising and promotion | $10,214 |
| Office expenses | $167,676 |
| Information technology | $185,095 |
| Royalties | $0 |
| Occupancy | $5,321,561 |
| Travel | $50,217 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,528 |
| Interest | $806,179 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,252,787 |
| Insurance | $504,867 |
| All other expenses | $0 |
| Total functional expenses | $46,391,039 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $20,296,722 |
| Pledges and grants receivable | $3,636,946 |
| Accounts receivable, net | $37,320 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $153,507 |
| Prepaid expenses and deferred charges | $1,064,000 |
| Investments—publicly traded securities | $113,609,588 |
| Investments—other securities | $29,328,221 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $229,105,384 |
| Accounts payable and accrued expenses | $3,894,454 |
| Grants payable | $0 |
| Deferred revenue | $20,326,426 |
| Tax-exempt bond liabilities | $27,828,267 |
| 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 | $959,872 |
| Total liabilities | $53,009,019 |
| 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 | $176,096,365 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Kent School Corporation has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
By George Fund Wilmington, DE PURPOSE: THOMAS W. KATES (HON) '02 '05 SCHOLARSHIP FUND | $1,000 |
Endowment Analysis
| Beg. Balance | $108,656,045 |
| Earnings | $25,347,472 |
| Net Contributions | $2,766,974 |
| Other Expense | $1,998,179 |
| Grants | $799,321 |
| Ending Balance | $133,972,991 |
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 |
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 |
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 |
Middlesex School Concord, MA | $485,283,896 | $51,739,388 |
Trustees Of Thayer Academy Braintree, MA | $161,523,903 | $74,068,471 |