Charlotte Latin Schools Inc
- Assets
- $136.7m
- Revenue
- $47.5m
- Investments
- $0.0
- Employees
- 525
- Location
- Charlotte, NC
- Founding
- 09/1972
- Data as of
- 06/2021
- EIN
- 56-0944449
Organization Overview
Charlotte Latin Schools Inc is located in Charlotte, NC. The organization was established in 1972. 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, Charlotte Latin Schools Inc employed 525 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Charlotte Latin Schools 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 06/2021, Charlotte Latin Schools Inc generated $47.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $45.0m during the year ending 06/2021. While expenses have increased by 5.4% 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
CHARLOTTE LATIN IS AN ACCREDITED, INDEPENDENT, CO-EDUCATIONAL, NON-SECTARIAN, COLLEGE-PREPARATORY DAY SCHOOL SERVING 1,422 STUDENTS IN TRANSITIONAL KINDERGARTEN THROUGH THE TWELFTH GRADE. LATIN DOES NOT DISCRIMINATE ON THE BASIS OF SEX, RACE, COLOR, RELIGION, DISABILITY, AGE, OR NATIONAL ORIGIN IN THE ADMINISTRATION OF ITS EDUCATIONAL PROGRAMS, ADMISSIONS POLICIES, FINANCIAL AID POLICIES, EMPLOYMENT PRACTICES, OR OTHER SCHOOL-ADMINISTERED PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CLS ENROLLED AND EDUCATED 1,481 STUDENTS IN GRADES TRANSITIONAL KINDERGARTEN THROUGH 12TH GRADE IN THE 2020-2021 SCHOOL YEAR.
CLS PROVIDED FOOD AND TRANSPORTATION SERVICES AS WELL AS ARTS, ATHLETICS, AND OTHER SPECIAL PROGRAMS, SUCH AS DAY CARE, EXTENDED DAY CARE, SUMMER CAMPS, CLINICS, AND EDUCATIONAL RESOURCES TO STUDENTS IN GRADES TRANSITIONAL KINDERGARTEN THROUGH 12TH GRADE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles D Baldecchi Head Of School | Officer | 50 | $846,242 |
Fletcher H Gregory III Assoc. Head Of School/cfo | Officer | 50 | $243,638 |
Fredrik Akerblom Director Of Development | 50 | $191,229 | |
Lawrence Wall Head Of Upper School | 50 | $168,911 | |
Todd Ballaban Head Of Middle School | 50 | $166,668 | |
Sonja Taylor Assoc. Head Of School | 50 | $163,356 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Choate Construction Company Construction/repairs | 6/29/21 | $1,057,098 |
Jr Creative Construction Inc Construction/repairs | 6/29/21 | $749,623 |
Consolidated Contract Services Custodial Contract | 6/29/21 | $580,721 |
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 | $4,928,417 |
| Noncash contributions included in lines 1a–1f | $902,838 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,928,417 |
| Total Program Service Revenue | $39,761,285 |
| Investment income | $129,663 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,029,457 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $47,461,290 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,826,613 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,203,685 |
| Compensation of current officers, directors, key employees. | $168,516 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $23,258,556 |
| Pension plan accruals and contributions | $1,636,405 |
| Other employee benefits | $3,139,529 |
| Payroll taxes | $1,869,525 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $146,529 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $79,000 |
| Fees for services: Investment Management | $279,161 |
| Fees for services: Other | $1,107,663 |
| Advertising and promotion | $191,697 |
| Office expenses | $272,285 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,356,624 |
| Travel | $223,427 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $68,982 |
| Interest | $776,496 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,438,808 |
| Insurance | $207,057 |
| All other expenses | $588,795 |
| Total functional expenses | $44,972,907 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,575,737 |
| Savings and temporary cash investments | $3,240,461 |
| Pledges and grants receivable | $5,933,675 |
| Accounts receivable, net | $138,142 |
| Loans from Officers, Directors, or Controlling Persons | $180,000 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $48,908 |
| Prepaid expenses and deferred charges | $458,995 |
| Net Land, buildings, and equipment | $53,698,543 |
| Investments—publicly traded securities | $60,170,991 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $241,138 |
| Total assets | $136,686,590 |
| Accounts payable and accrued expenses | $4,776,143 |
| Grants payable | $0 |
| Deferred revenue | $19,362,641 |
| Tax-exempt bond liabilities | $26,902,120 |
| 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 | $1,601,523 |
| Total liabilities | $52,642,427 |
| Net assets without donor restrictions | $56,563,227 |
| Net assets with donor restrictions | $27,480,936 |
| 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 | $136,686,590 |
Grants Recieved
Over the last fiscal year, we have identified 60 grants that Charlotte Latin Schools Inc has recieved totaling $1,633,408.
| Awarding Organization | Amount |
|---|---|
Winston-Salem Foundation Winstonsalem, NC PURPOSE: 4 GRANT(S) FOR VARYING PURPOSES | $303,000 |
John W Harris Family Foundation Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $250,000 |
The Blackbaud Giving Fund Charleston, SC PURPOSE: GENERAL SUPPORT | $206,319 |
The Blackbaud Giving Fund Charleston, SC PURPOSE: GENERAL SUPPORT | $206,319 |
Foundation For The Carolinas Charlotte, NC PURPOSE: CHARITABLE GIFT | $141,000 |
Columbus Foundation Columbus, OH PURPOSE: EDUCATION | $86,000 |
Endowment Analysis
| Beg. Balance | $36,973,414 |
| Earnings | $10,083,102 |
| Net Contributions | $290,100 |
| Other Expense | $1,105,052 |
| Grants | $386,700 |
| Ending Balance | $45,854,864 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Woodward Academy Inc College Park, GA | $297,987,009 | $85,209,091 |
Westminster Schools Inc Atlanta, GA | $596,739,021 | $99,709,851 |
Imagine Schools Non-Profit Inc Vienna, VA | $161,309,849 | $62,482,447 |
Lovett School Atlanta, GA | $255,570,564 | $63,708,553 |
The East Coast Migrant Head Start Project Raleigh, NC | $15,412,919 | $60,635,891 |
Charlotte Country Day School Charlotte, NC | $226,176,676 | $57,558,870 |
Collegiate School Richmond, VA | $158,195,585 | $59,848,503 |
Mccallie School Inc Chattanooga, TN | $251,954,499 | $79,356,942 |
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 |