Bancroft School
- Assets
- $41.6m
- Revenue
- $15.7m
- Investments
- $2.1m
- Employees
- 198
- Location
- Worcester, MA
- Founding
- 08/1987
- Data as of
- 06/2020
- EIN
- 04-2103861
Organization Overview
Bancroft School is located in Worcester, MA. The organization was established in 1987. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 06/2021, Bancroft School employed 198 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bancroft 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 06/2020, Bancroft School generated $15.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.0%) each year. All expenses for the organization totaled $18.5m during the year ending 06/2020. 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
THE ORGANIZATION PROVIDES A COLLEGE PREPARATORY EDUCATION IN A COEDUCATIONAL ENVIRONMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
+BANCROFT PROVIDES A COMPREHENSIVE, CARING, AND CREATIVE CURRICULAR AND EXTRACURRICULAR PROGRAM THAT FOSTERS AN EXPERIENCE OF EXCELLENCE FOR EACH STUDENT. INSPIRED STUDENTS, A SUPERIOR FACULTY, AND ENGAGED FAMILIES THRIVE IN OUR DIVERSE, SAFE, AND SUPPORTIVE COMMUNITY. WE AFFORD STUDENTS THE OPPORTUNITY TO DISCOVER THEIR PASSION IN LIFE AND TO LEARN TO EMBRACE CONFIDENTLY AND RESPONSIBLY THE MORAL AND ETHICAL CHALLENGES OF BEING LIFE-LONG LEARNERS, TEACHERS OF OTHERS, AND CITIZENS OF AN INCREASINGLY COMPLEX GLOBAL COMMUNITY. APPROXIMATELY 400 STUDENTS ATTEND BANCROFT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James P Cassidy III Head Of School | Officer | 40 | $220,562 |
Beth Beckmann Head Of Lower School | Officer | 40 | $194,573 |
Sean Ganas Dir Of Admissions & Financ | 40 | $114,134 | |
James Condon Secretary/trustee | OfficerTrustee | 2 | $0 |
Sheena Sharma Vice President | OfficerTrustee | 2 | $0 |
John Duggan First Vice President | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bennett Building Corporation Construction | 6/29/21 | $868,427 |
Harry Grodsky & Co Inc Hvac | 6/29/21 | $637,460 |
Ca Senecal Elec Services Inc Electrical | 6/29/21 | $436,505 |
Enterprise Cleaning Corp Facility Cleaning And Maintenance | 6/29/21 | $300,704 |
Ounceit Llc Technology | 6/29/21 | $155,709 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $770,919 |
| Investment income | $461,168 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$126,083 |
| Net Gain/Loss on Asset Sales | $577,902 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $13,190 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,668,076 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $4,541,998 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,308,239 |
| Pension plan accruals and contributions | $395,696 |
| Other employee benefits | $733,498 |
| Payroll taxes | $493,946 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,150 |
| Fees for services: Accounting | $35,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $61,529 |
| Fees for services: Other | $211,947 |
| Advertising and promotion | $183,898 |
| Office expenses | $10,077 |
| Information technology | $140,533 |
| Royalties | $0 |
| Occupancy | $801,766 |
| Travel | $89,362 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $61,460 |
| Interest | $340,283 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $882,865 |
| Insurance | $85,343 |
| All other expenses | $0 |
| Total functional expenses | $18,533,055 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,707,332 |
| Savings and temporary cash investments | $1,136,184 |
| Pledges and grants receivable | $547,085 |
| Accounts receivable, net | $136,463 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $85,928 |
| Prepaid expenses and deferred charges | $75,845 |
| Investments—publicly traded securities | $23,702,655 |
| Investments—other securities | $2,105,507 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $41,590,208 |
| Accounts payable and accrued expenses | $715,333 |
| Grants payable | $0 |
| Deferred revenue | $786,343 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $12,772,570 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $42,827 |
| Total liabilities | $14,317,073 |
| 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 | $27,273,135 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Bancroft School has recieved totaling $400.
| Awarding Organization | Amount |
|---|---|
The Ulf B Heide And Elizabeth C Heide Foundation Charitable Trust Weston, MA PURPOSE: GENERAL CHARITABLE | $400 |
Endowment Analysis
| Beg. Balance | $13,329,692 |
| Earnings | $3,198,628 |
| Net Contributions | $24,380 |
| Other Expense | $541,614 |
| Ending Balance | $16,011,086 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kent School Corporation Kent, CT | $229,105,384 | $52,388,614 |
Hopkins School Incorporated New Haven, CT | $238,380,739 | $44,795,541 |
Middlesex School Concord, MA | $485,283,896 | $51,739,388 |
Trustees Of Thayer Academy Braintree, MA | $161,523,903 | $74,068,471 |
Tabor Academy Marion, MA | $131,644,395 | $42,865,044 |
Berkshire School Inc Sheffield, MA | $360,181,943 | $53,167,690 |
Norwich Free Academy Norwich, CT | $43,430,200 | $37,532,143 |
St Marks School Of Southborough Inc Southborough, MA | $256,704,983 | $26,796,658 |
Beaver Country Day School Inc Chestnut Hill, MA | $85,211,798 | $37,690,859 |
Trustees Of Westminster School Inc Simsbury, CT | $266,021,202 | $46,508,932 |
Williston Northampton School Easthampton, MA | $100,619,158 | $41,610,730 |
St Georges School Newport, RI | $313,371,330 | $43,582,609 |