Fessenden School
- Assets
- $138.6m
- Revenue
- $33.2m
- Investments
- $46.6m
- Employees
- 377
- Location
- West Newton, MA
- Founding
- 10/1937
- Data as of
- 06/2021
- EIN
- 04-2103574
Organization Overview
Fessenden School is located in West Newton, MA. The organization was established in 1937. 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 06/2022, Fessenden School employed 377 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fessenden 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, Fessenden School generated $33.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $32.8m during the year ending 06/2021. While expenses have increased by 2.3% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FESSENDEN SCHOOL CULTIVATES EACH BOY'S TALENTS AND DEVELOPS IN BALANCE HIS CHARACTER, MIND, AND BODY IN AN INCLUSIVE AND JOYFUL COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FESSENDEN SCHOOL IS AN INDEPENDENT BOYS ELEMENTARY SCHOOL FOR BOTH RESIDENT AND DAY STUDENTS WITH GRADES PRE-KINDERGARTEN THROUGH NINTH. THE PROGRAM HAS APPROX. 525 STUDENTS OF BOTH DOMESTIC AND INTERNATIONAL ORIGIN. ACADEMIC, ART AND ATHLETIC PROGRAMS ALL PLAY AN INTEGRAL PART OF EACH STUDENT'S EDUCATIONAL AND PERSONAL GROWTH.
THE FESSENDEN SCHOOL SUMMER DAY CAMP PROGRAM PROVIDES APPROXIMATELY 325 CHILDREN WITH A DIVERSIFIED, SAFE AND REWARDING EDUCATIONAL EXPERIENCE. THE PROGRAM OPERATES FROM JULY THROUGH AUGUST AND IS LOCATED ON THE SCHOOL'S 42 ACRE CAMPUS, AND UTILIZES THE SPACIOUS GROUNDS, 2 SWIMMING POOLS, CLASSROOM BUILDINGS, TENNIS COURTS AND ATHLETIC CENTER.
THE FESSENDEN DAYCARE SERVICES THE LOCAL COMMUNITY AT LARGE, PROVIDING INFANT, TODDLER, AND PRESCHOOL PROGRAMS TO APPROXIMATELY 50 GIRLS AND BOYS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Armstrong Head Of School | Officer | 45 | $350,021 |
Michael Grossman COO | 45 | $188,145 | |
Abigail Buccella Director Of Advancement | 45 | $167,035 | |
Lucinda Metsch Assistant Head Of School | 45 | $152,243 | |
Caleb Thomson Director Of Admissions | 45 | $153,002 | |
Catheryn Charner-Laird Head Of Lower School | 45 | $147,564 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Erland Construction Inc Construction | 6/29/22 | $2,767,585 |
Zvi Construction Co Llc Construction | 6/29/22 | $614,596 |
Compass Facility Services Cleaning Services | 6/29/22 | $463,966 |
Cbt Design Architects | 6/29/22 | $359,418 |
Local Motion Inc Transportation Services | 6/29/22 | $258,483 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,862,035 |
| Investment income | $1,062,684 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $588,735 |
| Net Gain/Loss on Asset Sales | $617,283 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$47,879 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $33,180,214 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $2,911,205 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $539,335 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $13,686,874 |
| Pension plan accruals and contributions | $1,251,873 |
| Other employee benefits | $2,898,396 |
| Payroll taxes | $956,346 |
| Fees for services: Management | $151,559 |
| Fees for services: Legal | $101,939 |
| Fees for services: Accounting | $53,929 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $473,562 |
| Fees for services: Other | $229,617 |
| Advertising and promotion | $151,357 |
| Office expenses | $942,172 |
| Information technology | $189,207 |
| Royalties | $0 |
| Occupancy | $514,360 |
| Travel | $5,777 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $114,445 |
| Interest | $744,552 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,047,063 |
| Insurance | $209,239 |
| All other expenses | $0 |
| Total functional expenses | $32,771,962 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,372,665 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,924,578 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $83,038 |
| Prepaid expenses and deferred charges | $473,053 |
| Investments—publicly traded securities | $30,889,695 |
| Investments—other securities | $46,560,106 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,544,177 |
| Total assets | $138,609,682 |
| Accounts payable and accrued expenses | $3,524,721 |
| Grants payable | $0 |
| Deferred revenue | $19,012,762 |
| Tax-exempt bond liabilities | $23,280,317 |
| Escrow or custodial account liability | $64,570 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $420,233 |
| Other liabilities | $67,795 |
| Total liabilities | $46,370,398 |
| 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 | $92,239,284 |