Ravenscroft School Inc
- Assets
- $82.5m
- Revenue
- $37.9m
- Investments
- $0.0
- Employees
- 433
- Location
- Raleigh, NC
- Founding
- 11/1971
- Data as of
- 06/2023
- EIN
- 56-6001583
Organization Overview
Ravenscroft School Inc is located in Raleigh, NC. The organization was established in 1971. 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 06/2023, Ravenscroft School Inc employed 433 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ravenscroft 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 06/2023, Ravenscroft School Inc generated $37.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $38.7m during the year ending 06/2023. While expenses have increased by 3.5% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
OPERATION OF AN INDEPENDENT NONPROFIT SCHOOL THAT INCLUDES PRESCHOOL THROUGH GRADE TWELVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALL FACETS OF PRIMARY & SECONDARY EDUCATION INCLUDING AUXILIARY OPERATIONS, SUMMER PROGRAMS, SCHOLARSHIPS AND FINANCIAL ASSISTANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mrs Amy M Batten Chair | OfficerTrustee | 5 | $0 |
Mrs V Watson Pugh Vice Chair | OfficerTrustee | 5 | $0 |
Mr Santo J Costa Vice Chair | OfficerTrustee | 5 | $0 |
Dr Kevin L Keim Vice Chair | OfficerTrustee | 5 | $0 |
Mr Michael Anthony Norona Treasurer | OfficerTrustee | 5 | $0 |
Dr Laura Helton Kalorin Secretary | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Flik Independent Schools Food Services | 6/29/23 | $1,232,909 |
The Budd Group Inc Cleaning Service | 6/29/23 | $639,782 |
Tar Heel Landscape Enterprises Inc Landscape Contractor | 6/29/23 | $302,333 |
Brasfield & Gorrie Llc General Contractor | 6/29/23 | $1,700,512 |
Newcomb And Company Hvac Contractor | 6/29/23 | $314,922 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $57,750 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,444,140 |
| Noncash contributions included in lines 1a–1f | $720,415 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,501,890 |
| Total Program Service Revenue | $35,116,059 |
| Investment income | $675,010 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $125,993 |
| Net Gain/Loss on Asset Sales | -$552,876 |
| Net Income from Fundraising Events | -$1,770 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $37,937,637 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,214,586 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $924,767 |
| Compensation of current officers, directors, key employees. | $924,767 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $16,013,519 |
| Pension plan accruals and contributions | $787,355 |
| Other employee benefits | $1,598,830 |
| Payroll taxes | $1,247,943 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $114,592 |
| Fees for services: Accounting | $52,675 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $84,783 |
| Fees for services: Other | $1,788,025 |
| Advertising and promotion | $0 |
| Office expenses | $412,742 |
| Information technology | $672,758 |
| Royalties | $0 |
| Occupancy | $792,043 |
| Travel | $398,655 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $512,762 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,832,606 |
| Insurance | $380,244 |
| All other expenses | $1,217,772 |
| Total functional expenses | $38,687,626 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $18,903,112 |
| Pledges and grants receivable | $1,871,866 |
| Accounts receivable, net | $282,532 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $122,462 |
| Prepaid expenses and deferred charges | $2,689 |
| Net Land, buildings, and equipment | $30,962,342 |
| Investments—publicly traded securities | $25,606,717 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,775,222 |
| Total assets | $82,526,942 |
| Accounts payable and accrued expenses | $1,949,587 |
| Grants payable | $0 |
| Deferred revenue | $16,077,532 |
| Tax-exempt bond liabilities | $19,115,605 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $113,987 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $914,081 |
| Total liabilities | $38,170,792 |
| Net assets without donor restrictions | $21,876,125 |
| Net assets with donor restrictions | $22,480,025 |
| 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 | $82,526,942 |