Taft School Corporation
- Assets
- $447.9m
- Revenue
- $83.5m
- Investments
- $163.3m
- Employees
- 349
- Location
- Watertown, CT
- Founding
- 11/1990
- Data as of
- 06/2022
- EIN
- 06-0646921
Organization Overview
Taft School Corporation is located in Watertown, CT. The organization was established in 1990. 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, Taft School Corporation employed 349 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Taft 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 06/2022, Taft School Corporation generated $83.5m 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 $59.3m during the year ending 06/2022. While expenses have increased by 3.0% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE SCHOOL IS TO EDUCATE THE WHOLE STUDENT.
Describe the Organization's Program Activity:
PROVIDE EDUCATION SERVICES AND SUPPORT FOR APPROXIMATELY 600 STUDENTS IN GRADES NINE THROUGH POST-GRADUATE IN A BOARDING AND DAY SETTING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jonathan D Albert Trustee | Trustee | 0.5 | $0 |
Supriya Balsekar Booth Trustee | Trustee | 0.5 | $0 |
Peter Cbowden Trustee | Trustee | 0.5 | $0 |
Henry G Brauer Trustee | Trustee | 0.5 | $0 |
Diana Sands Calvaruso Trustee | Trustee | 0.5 | $0 |
Foster Chiang Trustee | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aramark Corporation Food Services | 6/29/22 | $3,528,468 |
American Refrigeration Company Inc Commercial & Industrialrefrigerationand | 6/29/22 | $2,022,209 |
O & G Industries Inc Athletic Facilities Contractor | 6/29/22 | $1,961,483 |
Bushka Lumber & Millwork Llc Construction Services | 6/29/22 | $2,411,514 |
Clark Companies Construction Services | 6/29/22 | $2,926,135 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $18,432,688 |
| Noncash contributions included in lines 1a–1f | $757,580 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $18,432,688 |
| Total Program Service Revenue | $38,623,000 |
| Investment income | $3,936,047 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,000 |
| Net Gain/Loss on Asset Sales | $21,907,107 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $197,979 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $83,525,324 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $10,361,928 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,274,299 |
| Compensation of current officers, directors, key employees. | $943,882 |
| Compensation to disqualified persons | $157,933 |
| Other salaries and wages | $17,441,143 |
| Pension plan accruals and contributions | $1,362,850 |
| Other employee benefits | $5,318,098 |
| Payroll taxes | $1,320,111 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $31,116 |
| Fees for services: Accounting | $61,637 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $84,836 |
| Fees for services: Investment Management | $1,733,868 |
| Fees for services: Other | $5,316,436 |
| Advertising and promotion | $43,217 |
| Office expenses | $1,249,178 |
| Information technology | $725,678 |
| Royalties | $0 |
| Occupancy | $2,195,834 |
| Travel | $377,994 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $176,485 |
| Interest | $1,190,086 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,437,303 |
| Insurance | $568,633 |
| All other expenses | $214,047 |
| Total functional expenses | $59,337,990 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $24,088,727 |
| Pledges and grants receivable | $9,161,672 |
| Accounts receivable, net | $7,904,576 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $321,088 |
| Prepaid expenses and deferred charges | $966,251 |
| Net Land, buildings, and equipment | $121,321,250 |
| Investments—publicly traded securities | $120,543,819 |
| Investments—other securities | $163,304,868 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $336,809 |
| Total assets | $447,949,060 |
| Accounts payable and accrued expenses | $3,094,290 |
| Grants payable | $0 |
| Deferred revenue | $19,537,506 |
| Tax-exempt bond liabilities | $37,946,988 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $12,254 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,012,979 |
| Total liabilities | $65,604,017 |
| Net assets without donor restrictions | $179,857,625 |
| Net assets with donor restrictions | $202,487,418 |
| 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 | $447,949,060 |