Montclair Kimberly Academy Foundation
- Assets
- $86.5m
- Revenue
- $51.6m
- Investments
- $33.2k
- Employees
- 442
- Location
- Montclair, NJ
- Founding
- 09/1974
- Data as of
- 06/2022
- EIN
- 23-7365263
Organization Overview
Montclair Kimberly Academy Foundation is located in Montclair, NJ. The organization was established in 1974. 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 06/2022, Montclair Kimberly Academy Foundation employed 442 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Montclair Kimberly Academy Foundation 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, Montclair Kimberly Academy Foundation generated $51.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $46.5m during the year ending 06/2022. While expenses have increased by 2.7% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION: PRIMARY, MIDDLE AND UPPER SCHOOL EDUCATION. NUMBER OF STUDENTS- 1,046
PLANT: REPAIRS, REPLACEMENT & IMPROVEMENTS OF EXISTING GROUNDS & FACILITIES. NUMBER OF STUDENTS- 1,046
AUXILIARY OPERATIONS. NUMBER OF STUDENTS- 1,046
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathryn Davison Chief Financial Officer | Officer | 65 | $294,104 |
David Flocco Head, Upper School | 55 | $223,389 | |
Randy Kleinman Head, Middle School | 55 | $183,320 | |
Nigel D Furlonge Head Of School | OfficerTrustee | 65 | $173,354 |
Karen Newman Asst. Head Of School | 55 | $169,164 | |
James Castelli Director, Physical Plant | 55 | $160,929 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $395,244 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,202,040 |
| Noncash contributions included in lines 1a–1f | $517,335 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,597,284 |
| Total Program Service Revenue | $45,622,174 |
| Investment income | $863,539 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $63,320 |
| Net Gain/Loss on Asset Sales | $1,441,860 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $51,589,426 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $5,430,339 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $760,616 |
| Compensation of current officers, directors, key employees. | $760,616 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $20,158,676 |
| Pension plan accruals and contributions | $1,456,989 |
| Other employee benefits | $4,006,949 |
| Payroll taxes | $1,444,714 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $41,051 |
| Fees for services: Accounting | $41,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $351,557 |
| Fees for services: Other | $152,916 |
| Advertising and promotion | $307,934 |
| Office expenses | $367,639 |
| Information technology | $1,181,018 |
| Royalties | $0 |
| Occupancy | $548,298 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $290,758 |
| Interest | $20,276 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,735,639 |
| Insurance | $374,545 |
| All other expenses | $456,969 |
| Total functional expenses | $46,541,061 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,858,975 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $592,654 |
| Accounts receivable, net | $4,946 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $416,949 |
| Net Land, buildings, and equipment | $28,594,275 |
| Investments—publicly traded securities | $39,003,747 |
| Investments—other securities | $33,208 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $86,504,754 |
| Accounts payable and accrued expenses | $2,609,564 |
| Grants payable | $0 |
| Deferred revenue | $7,897,961 |
| Tax-exempt bond liabilities | $0 |
| 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 | $26,011 |
| Other liabilities | $0 |
| Total liabilities | $10,533,536 |
| Net assets without donor restrictions | $63,487,807 |
| Net assets with donor restrictions | $12,483,411 |
| 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 | $86,504,754 |
Grants Recieved
Over the last fiscal year, we have identified 28 grants that Montclair Kimberly Academy Foundation has recieved totaling $458,252.
| Awarding Organization | Amount |
|---|---|
The Lisa And Joseph Amato Family Foundation Essex Fells, NJ PURPOSE: CHARITABLE CONTRIBUTION | $97,491 |
Pinkerton Foundation New York, NY PURPOSE: TRUSTEE DISCRETIONARY | $70,000 |
Goldman Sachs Charitable Gift Fund New York, NY PURPOSE: CAPITAL CAMPAIGN | $50,000 |
Edward John And Patricia Rosenwald Foundation New York, NY PURPOSE: GENERAL SUPPORT | $50,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $35,084 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $28,750 |
Endowment Analysis
| Beg. Balance | $38,887,249 |
| Earnings | -$4,454,243 |
| Admin Expense | $337,795 |
| Net Contributions | $183,529 |
| Grants | $10,450 |
| Ending Balance | $34,268,290 |
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 |
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 |
Collegium Charter School Exton, PA | $94,797,177 | $61,790,179 |