Independence School Inc
- Assets
- $25.3m
- Revenue
- $9.7m
- Investments
- $0.0
- Employees
- 128
- Location
- Newark, DE
- Founding
- 12/1979
- Data as of
- 06/2020
- 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 06/2020, Independence School Inc employed 128 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 06/2020, Independence School Inc generated $9.7m 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 $9.8m during the year ending 06/2020. While expenses have increased by 0.9% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
A PRIVATE SCHOOL THAT SERVES STUDENTS AGE THREE THROUGH GRADE EIGHT BY WORKING TOWARD EDUCATIONAL EXCELLENCE AND PERSONAL GROWTH. THEY STRIVE TO GRADUATE STUDENTS WHO ARE ACADEMICALLY SUCCESSFUL AND INTELLECTUALLY CURIOUS, DEMONSTRATE LEADERSHIP AND SELF RESPONSIBILITY, AND ARE APPRECIATIVE OF THE ARTS AND ATHLETIC COMPETITION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRIVATE SCHOOL - GRADES KINDERGARTEN THROUGH 8TH APPROXIMATELY 413 STUDENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mrs Victoria C Yatzus Head Of School | Officer | 40 | $219,245 |
Mrs Jennifer Vrana Director Of Finance And Op | 40 | $113,723 | |
Mr Vincent C Thomas ESQ Board Member | Trustee | 1 | $0 |
Mr Bryan Keen Board Member | Trustee | 1 | $0 |
Mr Amish Desai Board Member | Trustee | 1 | $0 |
Dr Rajeev Vaidya Treasurer | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Beyond Bright Janitorial Services | 6/29/20 | $130,828 |
Pegasus Technologies Technical Support | 6/29/20 | $176,665 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $884,836 |
| Investment income | $225,453 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $61,919 |
| Net Gain/Loss on Asset Sales | $32,857 |
| Net Income from Fundraising Events | $100,598 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$3,122 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,746,843 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $1,800,147 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $255,106 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,396,968 |
| Pension plan accruals and contributions | $159,586 |
| Other employee benefits | $88,423 |
| Payroll taxes | $325,842 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $54,402 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $697,190 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $199,224 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $756,923 |
| Insurance | $83,321 |
| All other expenses | $0 |
| Total functional expenses | $9,777,277 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,990,794 |
| Savings and temporary cash investments | $691,564 |
| Pledges and grants receivable | $456,634 |
| Accounts receivable, net | $155,415 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,000 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $6,884,697 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,645 |
| Total assets | $25,274,852 |
| Accounts payable and accrued expenses | $63,595 |
| Grants payable | $0 |
| Deferred revenue | $1,222,682 |
| Tax-exempt bond liabilities | $5,832,793 |
| 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 | $1,849,172 |
| Total liabilities | $8,968,242 |
| 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 | $16,306,610 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Independence School Inc has recieved totaling $25,392.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $20,742 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $1,300 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $1,300 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $500 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $500 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $200 |
Endowment Analysis
| Beg. Balance | $5,623,236 |
| Earnings | $302,611 |
| Net Contributions | $205,000 |
| Other Expense | $287,741 |
| Ending Balance | $5,843,106 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Golda Och Academy Inc West Orange, NJ | $16,763,466 | $17,555,364 |
Lancaster Country Day School Lancaster, PA | $63,291,696 | $19,126,343 |
New Foundations Charter School Marlton, NJ | $14,838,621 | $21,727,743 |
Annapolis Area Christian School Association Inc Severn, MD | $29,091,894 | $17,563,578 |
Norwood School Inc Bethesda, MD | $44,969,873 | $21,491,329 |
Afya Baltimore Incorporated Baltimore, MD | $12,634,948 | $19,029,697 |
Freire Charter School Philadelphia, PA | $7,896,247 | $17,871,218 |
The Heights Inc Potomac, MD | $26,208,997 | $17,577,031 |
Academy In Manayunk Inc Conshohocken, PA | $56,796,336 | $21,552,714 |
Sanford School Inc Hockessin, DE | $30,011,252 | $17,984,684 |
The Foundation Schools Largo, MD | $14,820,467 | $17,523,591 |
Philadelphia School Philadelphia, PA | $25,323,649 | $14,541,580 |