Pennington School
- Assets
- $95.1m
- Revenue
- $33.4m
- Investments
- $0.0
- Employees
- 259
- Location
- Pennington, NJ
- Founding
- 09/1944
- Data as of
- 06/2021
- EIN
- 21-0635004
Organization Overview
Pennington School is located in Pennington, NJ. The organization was established in 1944. 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, Pennington School employed 259 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pennington 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, Pennington School generated $33.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $31.2m during the year ending 06/2021. While expenses have increased by 4.7% 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
THE PENNINGTON SCHOOL IS AN INDEPENDENT CO-EDUCATIONAL SCHOOL SERVING DAY AND BOARDING STUDENTS IN GRADES 6-12. WE ARE DEDICATED TO DEVELOPING EXCELLENCE IN ALL STUDENTS.
Describe the Organization's Program Activity:
COEDUCATIONAL DAY/BOARDING SCHOOL SERVICING GRADES 6 THROUGH 12. THERE ARE APPROXIMATELY 525 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr William S Hawkey Headmaster | OfficerTrustee | 40 | $409,214 |
Charlie Brown Director Of Advancement | 40 | $234,809 | |
J Graeme Mcwhirter Chief Financial Officer | Officer | 40 | $212,956 |
Melissa F Von Stade Director Of Advancement | 40 | $128,282 | |
Scott Peeler Dean Of Academic Affairs | 40 | $123,550 | |
Joannah Prockop Director The Learning Center | 40 | $119,888 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Adams-bickel Associates Llc Contractor | 6/29/21 | $439,153 |
Premier Pool Renovations Contractor | 6/29/21 | $367,180 |
Commerical Cleaning Corp Housekeeping Service | 6/29/21 | $317,061 |
Jmg Mechanical Llc Contractor | 6/29/21 | $298,677 |
Sodexo Inc Affiliates Dining Services | 6/29/21 | $1,260,719 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,613,100 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,399,624 |
| Noncash contributions included in lines 1a–1f | $49,092 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,012,724 |
| Total Program Service Revenue | $26,070,932 |
| Investment income | $1,582,899 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $156,635 |
| Net Gain/Loss on Asset Sales | $491,372 |
| Net Income from Fundraising Events | -$2,910 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $837 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $33,377,887 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,300 |
| Grants and other assistance to domestic individuals. | $6,239,440 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $786,412 |
| Compensation of current officers, directors, key employees. | $217,850 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,129,692 |
| Pension plan accruals and contributions | $743,766 |
| Other employee benefits | $1,736,937 |
| Payroll taxes | $849,508 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $31,105 |
| Fees for services: Accounting | $85,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $167,051 |
| Fees for services: Other | $1,601,411 |
| Advertising and promotion | $15,322 |
| Office expenses | $1,551,685 |
| Information technology | $160,537 |
| Royalties | $0 |
| Occupancy | $2,627,586 |
| Travel | $18,139 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $45,833 |
| Interest | $459,351 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,782,263 |
| Insurance | $205,188 |
| All other expenses | $0 |
| Total functional expenses | $31,241,326 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $9,604,729 |
| Pledges and grants receivable | $1,020,953 |
| Accounts receivable, net | $75,376 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $99,568 |
| Prepaid expenses and deferred charges | $181,159 |
| Net Land, buildings, and equipment | $39,456,459 |
| Investments—publicly traded securities | $44,687,940 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $95,126,184 |
| Accounts payable and accrued expenses | $3,088,186 |
| Grants payable | $0 |
| Deferred revenue | $5,951,163 |
| Tax-exempt bond liabilities | $13,186,080 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $751,221 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $22,976,650 |
| Net assets without donor restrictions | $47,576,999 |
| Net assets with donor restrictions | $24,572,535 |
| 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 | $95,126,184 |
Grants Recieved
Over the last fiscal year, we have identified 19 grants that Pennington School has recieved totaling $533,520.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $296,500 |
The Page And Otto Marx Jr Foundation Lake Success, NY PURPOSE: HEALTH | $110,000 |
Goldman Sachs Philanthropy Fund New York, NY PURPOSE: EDUCATION | $27,000 |
W P Carey Foundation New York, NY PURPOSE: CHARITABLE | $22,500 |
William Penn Foundation Philadelphia, PA PURPOSE: SUPPORT PENNINGTON SCHOOL | $20,000 |
Pittsburgh Foundation Pittsburgh, PA PURPOSE: EDUCATION | $18,200 |
Endowment Analysis
| Beg. Balance | $38,891,186 |
| Earnings | $10,581,486 |
| Net Contributions | $200,988 |
| Other Expense | $1,714,041 |
| Ending Balance | $47,959,619 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Trustees Of The Lawrenceville School Lawrenceville, NJ | $908,146,906 | $142,227,478 |
The Hill School Pottstown, PA | $339,549,890 | $89,638,080 |
Regents Of The Mercersburg College Mercersburg, PA | $535,140,744 | $49,172,082 |
Blair Academy Blairstown, NJ | $256,075,147 | $54,316,334 |
Morristown-Beard School Morristown, NJ | $71,175,267 | $35,071,625 |
Pennington School Pennington, NJ | $95,126,184 | $33,377,887 |
St Andrews School Of Delaware Inc Middletown, DE | $398,873,444 | $32,788,416 |
Malvern Preparatory School Malvern, PA | $76,971,760 | $36,046,304 |
Emma Willard School Troy, NY | $275,716,852 | $137,236,966 |
Frisch School Paramus, NJ | $52,896,867 | $30,193,228 |
Integration Charter Schools Staten Island, NY | $20,881,046 | $32,287,318 |
Millbrook School Millbrook, NY | $138,607,846 | $30,124,599 |