Carolina Friends School
- Assets
- $47.7m
- Revenue
- $15.7m
- Investments
- $0.0
- Employees
- 260
- Location
- Durham, NC
- Founding
- 07/1965
- Data as of
- 06/2021
- EIN
- 56-0812560
Organization Overview
Carolina Friends School is located in Durham, NC. The organization was established in 1965. 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, Carolina Friends School employed 260 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carolina Friends 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, Carolina Friends School generated $15.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $14.3m during the year ending 06/2021. While expenses have increased by 4.6% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
CAROLINA FRIENDS SCHOOL IS A VIBRANT AND INCLUSIVE LEARNING COMMUNITY EMPOWERING STUDENTS TO THINK CRITICALLY, CREATIVELY, AND INDEPENDENTLY. WE FOSTER ACTIVE EXPLORATION AND QUIET REFLECTION, INDIVIDUAL ENDEAVOR AND COLLABORATIVE ENGAGEMENT. INSPIRED BY QUAKER VALUES PURSUIT OF TRUTH, RESPECT FOR ALL, PEACEFUL RESOLUTION OF CONFLICT, SIMPLICITY, THE CALL TO SERVICE, WE TEACH OUR CHILDREN THAT IT IS POSSIBLE TO CHANGE THE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE EDUCATION TO STUDENTS FROM PRESCHOOL (3 YEARS OLD) THROUGH UPPER SCHOOL (12TH GRADE). AT CAROLINA FRIENDS SCHOOL, LEARNING IS DYNAMIC, EXPERIENTIAL, AND INTERACTIVE. STUDENTS ENCOUNTER OPEN-ENDED QUESTIONS, UNDERTAKE ORIGINAL PROJECTS OF REAL RELEVANCE, EXPLORE THE NATURAL WORLD, AND IMMERSE THEMSELVES IN SERVICE LEARNING. IN DOING SO, THEY BUILD IMPRESSIVE POWERS OF CRITICAL, CREATIVE, AND INDEPENDENT THINKING AND EXPRESSION. IT IS EXCEPTIONAL EDUCATION SHAPED BY A CLEAR SET OF BELIEFS, A COMMITMENT TO QUAKER VALUES, A LOVE OF CHILDREN, AND A SENSE OF HOPE FOR THE COMMUNITIES, LOCAL AND GLOBAL, THEY WILL SOON LEAD AND SERVE. AT THE END OF THE SCHOOL YEAR 2020/2021, THERE WERE 497 STUDENTS ENROLLED IN THE SCHOOL.
AUXILIARY SERVICES FOR CAROLINA FRIENDS SCHOOL INCLUDE AFTER-SCHOOL CARE, SUMMER PROGRAMS, AND ENRICHMENT PROGRAMS. IN ADDITION TO AUXILIARY SERVICES, EXPENSES INCLUDE THOSE SUPPORTING SPORTS PROGRAMS, LIBRARY SERVICES AND SUPPORTING LEARNING NEEDS. AFTER-SCHOOL CARE IS OFFERED IN THE LOWER AND MIDDLE SCHOOLS UNTIL 5:45 PM EACH SCHOOL DAY. OUR SUMMER PROGRAMS OFFER A VARIETY OF WEEKLY CAMPS TO THE COMMUNITY. THE CAMPS ARE EXTREMELY SUCCESSFUL AND PROVIDE AN OUTREACH TO A WIDE VARIETY OF FAMILIES IN THE AREA. THERE WERE APPROXIMATELY 934 STUDENTS INVOLVED IN AUXILIARY ACTIVITIES IN SCHOOL YEAR 2020/2021. MANY STUDENTS ARE INVOLVED IN MORE THAN ONE ACTIVITY. ENRICHMENT PROGRAMS INCLUDE AFTER-SCHOOL "FUN SHOPS" IN ART, SCIENCE, SPORTS, AND MUSIC LESSONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen Cumberbatch Head Of School | Officer | 40 | $209,973 |
Katherine Collini Director Of Finance | Officer | 40 | $110,206 |
Felix Wong Treasurer | OfficerTrustee | 1 | $0 |
Chari Smith Recording Clerk | OfficerTrustee | 1 | $0 |
Mark Kuhn Clerk | OfficerTrustee | 1 | $0 |
Jane Price Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bank Of America Banking Services | 6/29/17 | $367,233 |
Whole Foods Market Grocery Cards | 6/29/17 | $207,600 |
Weinstein Friedlein Architects Architectural Services | 6/29/17 | $185,371 |
Ct Wilson Construction Services | 6/29/17 | $883,378 |
United Healthcare Health Care Insurance | 6/29/17 | $522,924 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,269,700 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,614,288 |
| Noncash contributions included in lines 1a–1f | $310,881 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,883,988 |
| Total Program Service Revenue | $12,162,633 |
| Investment income | $136,929 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $493,425 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,676,975 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,144,145 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $363,047 |
| Compensation of current officers, directors, key employees. | $66,086 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,266,425 |
| Pension plan accruals and contributions | $317,010 |
| Other employee benefits | $1,586,694 |
| Payroll taxes | $472,777 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $43,284 |
| Fees for services: Accounting | $34,484 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $84,991 |
| Fees for services: Other | $207,893 |
| Advertising and promotion | $0 |
| Office expenses | $675,319 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $175,086 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $198,916 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $890,888 |
| Insurance | $72,306 |
| All other expenses | $1,771 |
| Total functional expenses | $14,251,632 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $108 |
| Savings and temporary cash investments | $7,757,880 |
| Pledges and grants receivable | $411,162 |
| Accounts receivable, net | $79,839 |
| 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 | $153,582 |
| Net Land, buildings, and equipment | $15,420,750 |
| Investments—publicly traded securities | $22,256,853 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,638,225 |
| Total assets | $47,718,399 |
| Accounts payable and accrued expenses | $707,975 |
| Grants payable | $0 |
| Deferred revenue | $4,248,322 |
| Tax-exempt bond liabilities | $4,690,302 |
| 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 | $171,779 |
| Total liabilities | $9,818,378 |
| Net assets without donor restrictions | $17,437,998 |
| Net assets with donor restrictions | $20,462,023 |
| 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 | $47,718,399 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Carolina Friends School has recieved totaling $77,933.
| Awarding Organization | Amount |
|---|---|
Robert And Mercedes Eichholz Foundation Brooklyn, NY PURPOSE: ART PROGRAMS | $30,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $11,150 |
The Community Foundation For Greater Atlanta Inc Atlanta, GA PURPOSE: EDUCATION | $10,000 |
Laurence & Thressa Anderson Family Foundation Inc Las Vegas, NV PURPOSE: CHARITABLE USE | $10,000 |
Michael And Laura Brader-Araje Foundation Chapel Hill, NC PURPOSE: SUPPORT EDUCATION | $8,495 |
Bertsch Family Charitable Foundation Inc Chapel Hill, NC PURPOSE: EDUCATIONAL | $6,000 |
Endowment Analysis
| Beg. Balance | $13,051,358 |
| Earnings | $5,204,228 |
| Admin Expense | $13,596 |
| Net Contributions | $1,026,334 |
| Ending Balance | $19,268,324 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Potomac School Mclean, VA | $225,192,195 | $49,665,882 |
Providence Day School Charlotte, NC | $110,524,658 | $50,140,053 |
Flint Hill School Oakton, VA | $94,406,099 | $45,449,765 |
Charlotte Latin Schools Inc Charlotte, NC | $136,686,590 | $47,461,290 |
Greater Atlanta Christian Schools Inc Norcross, GA | $104,910,212 | $44,897,863 |
Pace Academy Inc Atlanta, GA | $185,935,585 | $47,968,638 |
Ravenscroft School Inc Raleigh, NC | $81,090,288 | $36,426,897 |
Durham Academy Inc Durham, NC | $115,235,784 | $38,768,231 |
Purpose Built Schools Atlanta Inc Atlanta, GA | $15,990,097 | $34,651,857 |
Wesleyan School Inc Peachtree Corners, GA | $136,567,654 | $38,199,935 |
St Annes-Belfield Inc Charlottesville, VA | $122,363,605 | $34,335,007 |
Norfolk Academy Norfolk, VA | $147,079,429 | $29,484,040 |