Independence School Inc
- Assets
- $27.0m
- Revenue
- $12.2m
- Investments
- $0.0
- Employees
- 117
- Location
- Newark, DE
- Founding
- 12/1979
- Data as of
- 06/2022
- EIN
- 51-0225189
Organization Overview
Independence School Inc is located in Newark, DE. The organization was established in 1979. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Independence School Inc employed 117 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Independence School Inc 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, Independence School Inc generated $12.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $10.4m during the year ending 06/2022. While expenses have increased by 1.7% 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
THE INDEPENDENCE SCHOOL INSPIRES STUDENTS TO BECOME INDEPENDENT, INTELLECTUALLY CURIOUS INDIVIDUALS WHO POSSESS AN EXCEPTIONAL SPIRIT FOR LEARNING, LEADERSHIP AND CITIZENSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE INDEPENDENCE SCHOOL IS AN INDEPENDENT SCHOOL FOR CHILDREN FROM PRESCHOOL TO 8TH GRADE. THERE WERE APPROXIMATELY 437 STUDENTS ENROLLED DURING THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Victoria C Yatzus Head Of School | Officer | 40 | $227,988 |
Bernadette Gilmore Director Of Academic Innovation | 40 | $104,068 | |
Jennifer Vrana (to 6/21) Director Of Finance And Operations | Officer | 40 | $67,189 |
Patrick Burns Jr (from 7/21) Director Of Finance And Operations | Officer | 40 | $55,753 |
Rachel Wood Vice President | OfficerTrustee | 1 | $0 |
Kristin Giffin Secretary | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pegasus Technologies It Consulting | 6/29/22 | $135,456 |
Beyond Bright Services Inc Custiodial Services | 6/29/22 | $142,252 |
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 | $1,553,192 |
| Noncash contributions included in lines 1a–1f | $115,123 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,553,192 |
| Total Program Service Revenue | $8,872,232 |
| Investment income | $267,721 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $68,680 |
| Net Gain/Loss on Asset Sales | $992,689 |
| Net Income from Fundraising Events | $65,149 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $35,632 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,237,721 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,081,786 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $407,114 |
| Compensation of current officers, directors, key employees. | $352,674 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,173,507 |
| Pension plan accruals and contributions | $143,807 |
| Other employee benefits | $376,124 |
| Payroll taxes | $334,880 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,657 |
| Fees for services: Accounting | $73,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $54,915 |
| Fees for services: Investment Management | $44,713 |
| Fees for services: Other | $21,910 |
| Advertising and promotion | $158,398 |
| Office expenses | $233,099 |
| Information technology | $156,808 |
| Royalties | $0 |
| Occupancy | $500,696 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $186,793 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $783,875 |
| Insurance | $86,839 |
| All other expenses | $122,590 |
| Total functional expenses | $10,431,706 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,413,203 |
| Savings and temporary cash investments | $116,129 |
| Pledges and grants receivable | $655,021 |
| Accounts receivable, net | $46,348 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $19,460 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $12,457,501 |
| Investments—publicly traded securities | $8,037,622 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $272,681 |
| Total assets | $27,017,965 |
| Accounts payable and accrued expenses | $117,315 |
| Grants payable | $0 |
| Deferred revenue | $2,707,704 |
| Tax-exempt bond liabilities | $5,460,966 |
| 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 | $671,666 |
| Total liabilities | $8,957,651 |
| Net assets without donor restrictions | $10,564,500 |
| Net assets with donor restrictions | $7,495,814 |
| 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 | $27,017,965 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Independence School Inc has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
Redy Foundation Inc Newark, DE PURPOSE: GOODWORSKCHARITY | $1,000 |
Endowment Analysis
| Beg. Balance | $6,928,470 |
| Earnings | -$1,148,323 |
| Net Contributions | $3,071,568 |
| Other Expense | $814,093 |
| Ending Balance | $8,037,622 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Haverford School Haverford, PA | $200,207,536 | $63,658,264 |
Marion P Thomas Charter School Inc Newark, NJ | $17,560,259 | $37,041,604 |
Trustees Of Newark Academy Livingston, NJ | $113,328,907 | $35,913,632 |
Philadelphia Independent Mission Schools Philadelphia, PA | $39,191,945 | $38,175,969 |
Lakewood Chedar School Lakewood, NJ | $43,735,740 | $33,402,068 |
Golda Och Academy Inc West Orange, NJ | $16,688,223 | $21,390,950 |
Friends Select School Philadelphia, PA | $35,402,509 | $21,729,714 |
The Heights Inc Potomac, MD | $28,496,015 | $21,762,530 |
New Foundations Charter School Marlton, NJ | $17,967,778 | $23,202,828 |
The Foundation Schools Largo, MD | $16,377,358 | $19,826,112 |
Sanford School Inc Hockessin, DE | $33,539,309 | $20,013,159 |
Annapolis Area Christian School Association Inc Severn, MD | $29,091,894 | $17,563,578 |