Spence School
- Assets
- $416.5m
- Revenue
- $73.0m
- Investments
- $52.1m
- Employees
- 388
- Location
- New York, NY
- Founding
- 03/1942
- Data as of
- 06/2021
- EIN
- 13-1635286
Organization Overview
Spence School is located in New York, NY. The organization was established in 1942. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2023, Spence School employed 388 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Spence 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, Spence School generated $73.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $58.8m during the year ending 06/2021. While expenses have increased by 3.4% 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
TO PREPARE A DIVERSE COMMUNITY OF GIRLS/YOUNG WOMEN FOR THE TRANSFORMATION OF SELF AND THE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SPENCE SCHOOL IS AN INDEPENDENT, COLLEGE PREPARATORY DAY SCHOOL PROVIDING AN EDUCATION FOR GIRLS IN GRADES KINDERGARTEN THROUGH 12.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William L Jacob III President | OfficerTrustee | 10 | $0 |
Anand Desai Vice President | OfficerTrustee | 2 | $0 |
Kimberly Kravis Vice President | OfficerTrustee | 2 | $0 |
Akuezunkpa Ude Welcome Vice President | OfficerTrustee | 2 | $0 |
Arthur Chu Secretary | OfficerTrustee | 2 | $0 |
Heather Berger Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Green One Q Corp Cleaning Services | 6/29/23 | $719,454 |
Baldor Specialty Foods Food Services | 6/29/23 | $298,596 |
Superme Performance Llc Coaching Services | 6/29/23 | $255,684 |
Mario's Transportation Inc Transportation | 6/29/23 | $232,705 |
Custom Coach & Limo Llc Transportation | 6/29/23 | $230,835 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,020,707 |
| Investment income | $1,989,109 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $18,679,297 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $72,977,566 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $7,083,432 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,517,737 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $25,322,810 |
| Pension plan accruals and contributions | $2,078,158 |
| Other employee benefits | $4,188,843 |
| Payroll taxes | $1,998,466 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $205,907 |
| Fees for services: Accounting | $69,000 |
| Fees for services: Lobbying | $64,161 |
| Fees for services: Fundraising | $5,100 |
| Fees for services: Investment Management | $173,036 |
| Fees for services: Other | $677,016 |
| Advertising and promotion | $254,685 |
| Office expenses | $1,363,834 |
| Information technology | $830,065 |
| Royalties | $0 |
| Occupancy | $2,209,503 |
| Travel | $335,286 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $482,819 |
| Interest | $423,404 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,547,419 |
| Insurance | $450,881 |
| All other expenses | $0 |
| Total functional expenses | $58,803,465 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,500 |
| Savings and temporary cash investments | $48,555,228 |
| Pledges and grants receivable | $12,058,019 |
| Accounts receivable, net | $4,439,785 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $9,091 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $996,684 |
| Investments—publicly traded securities | $86,594,537 |
| Investments—other securities | $52,054,456 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $496,640 |
| Total assets | $416,454,517 |
| Accounts payable and accrued expenses | $2,579,809 |
| Grants payable | $0 |
| Deferred revenue | $25,907,197 |
| Tax-exempt bond liabilities | $39,708,382 |
| 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 | $0 |
| Total liabilities | $68,195,388 |
| 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 | $348,259,129 |