Spence School
- Assets
- $416.5m
- Revenue
- $73.0m
- Investments
- $52.1m
- Employees
- 360
- 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 06/2021, Spence School employed 360 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 6 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $58.8m during the year ending 06/2021. While expenses have increased by 4.0% per year over the past 6 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
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:
THE SPENCE SCHOOL IS AN INDEPENDENT, COLLEGE PREPARATORY DAY SCHOOL PROVIDING AN EDUCATION FOR GIRLS IN GRADES KINDERGARTEN THROUGH 12.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ellanor N Brizendine Head Of School | Officer | 40 | $930,151 |
Elyse Waterhouse Director Of Finance&operat | Officer | 40 | $531,167 |
Michele Krauthamer Head Of Upper School | Officer | 40 | $302,403 |
Eric Zahler Director Of Teaching | 40 | $285,104 | |
Karen Sullivan Head Of Middle School | Officer | 40 | $282,374 |
Elizabeth Causey Head Of Lower School | Officer | 40 | $281,874 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rogers Partners Plc Architecture Design | 6/29/21 | $540,785 |
Zubatkin Owner Representation Llc Construction Mgmt. | 6/29/21 | $578,873 |
Green One Q Corp Cleaning Services | 6/29/21 | $274,665 |
New York Green Roofs Llc Construction Svcs. | 6/29/21 | $161,918 |
Gilbane Building Company Construction Svcs. | 6/29/21 | $26,219,628 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $560,983 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,459,724 |
| Noncash contributions included in lines 1a–1f | $2,016,185 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,020,707 |
| Total Program Service Revenue | $45,304,843 |
| 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 organizations and domestic governments. | $0 |
| 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 of current officers, directors, key employees. | $570,497 |
| 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 |
| Net Land, buildings, and equipment | $211,248,577 |
| 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 | $209,160,622 |
| Net assets with donor restrictions | $139,098,507 |
| 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 | $416,454,517 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Spence School has recieved totaling $65,000.
| Awarding Organization | Amount |
|---|---|
Florence & Paul Derosa Memorial Fund For The Arts Inc Tenafly, NJ PURPOSE: AN UNRESTRICTED GRANT TO FURTHER THE ORGANIZATIONS EXEMPT PURPOSE | $34,000 |
Scotford Foundation John P Scotford Jr Ttee Poland, OH PURPOSE: GENERAL SUPPORT | $15,000 |
Deeds Foundation New York, NY PURPOSE: ANNUAL FUND | $5,000 |
Fundacion Zaqueo Wilmington, DE PURPOSE: ANNUAL FUND | $5,000 |
Jim And Dede Bartlett Foundation Wilmington, DE PURPOSE: BODIE BRIZENDINE ENDOWMENT FUND | $5,000 |
Sharrock Family Charitable Tr Harrison, NY PURPOSE: GENERAL OPERATING SUPPORT | $500 |
Endowment Analysis
| Beg. Balance | $109,817,217 |
| Earnings | $42,975,870 |
| Net Contributions | $2,070,764 |
| Other Expense | $4,532,000 |
| Ending Balance | $150,331,851 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Horace Mann School Bronx, NY | $475,824,158 | $137,244,948 |
Ethical Culture Fieldston School New York, NY | $252,651,487 | $107,394,843 |
Dalton Schools Inc New York, NY | $268,184,018 | $87,154,384 |
Milton Academy Milton, MA | $512,730,465 | $105,004,685 |
Riverdale Country School Inc Bronx, NY | $247,467,239 | $82,826,277 |
Trinity Episcopal Schools Corporation New York, NY | $265,614,292 | $76,873,691 |
United Nations International School New York, NY | $95,948,249 | $80,239,931 |
Columbia Grammar & Preparatory School New York, NY | $126,207,367 | $82,489,526 |
Poly Prep Country Day School Brooklyn, NY | $174,200,532 | $76,376,518 |
Saint Anns School Brooklyn, NY | $162,069,731 | $73,475,158 |
Pingry Corporation Basking Ridge, NJ | $215,792,985 | $70,756,009 |
Spence School New York, NY | $416,454,517 | $72,977,566 |