Rivers School Corporation
- Assets
- $120.7m
- Revenue
- $42.1m
- Investments
- $30.0m
- Employees
- 407
- Location
- Weston, MA
- Founding
- 12/1932
- Data as of
- 06/2021
- EIN
- 04-2104457
Organization Overview
Rivers School Corporation is located in Weston, MA. The organization was established in 1932. 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 06/2022, Rivers School Corporation employed 407 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rivers School Corporation 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, Rivers School Corporation generated $42.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $35.6m during the year ending 06/2021. While expenses have increased by 3.9% 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
THE RIVERS SCHOOL IS A COED COLLEGE PREPARATORY DAY SCHOOL FOR GRADES 6 THROUGH 12. RIVERS CHALLENGES STUDENTS TO ATTAIN THEIR HIGHEST LEVELS OF EXCELLENCE IN ACADEMICS, ARTS, AND ATHLETICS. WE SET HIGH STANDARDS AND EXPECT STUDENTS TO PARTICIPATE ACTIVELY IN THEIR LEARNING. WE CULTIVATE A CARING, RESPECTFUL, AND COLLABORATIVE ENVIRONMENT THAT ENCOURAGES STUDENT PERFORMANCE, INCLUDING DEMONSTRATION OF LOGICAL THOUGHT, INFORMED AND ARTICULATE VOICE, CREATIVE VISION, AND INTEGRITY. RIVERS IS DEDICATED TO PREPARING ITS STUDENTS FOR LEADERSHIP IN A WORLD THAT NEEDS THEIR TALENTS, IMAGINATION, INTELLECT, AND COMPASSION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOOL PROGRAM - THE INSTRUCTION OF 515 STUDENTS - GRADE 6-12. THE SCHOOL YEAR RUNS FROM SEPTEMBER TO JUNE.
MUSIC CONSERVATORY - OFFERS PREMIER CLASSICAL AND JAZZ MUSIC EDUCATION AND PERFORMANCE PROGRAMS THAT DEVELOP THE HIGHEST LEVELS OF ARTISTIC AND TECHNICAL ACHIEVEMENT IN STUDENT MUSICIANS OF ALL AGES
SUMMER CAMP PROGRAM - THE INSTRUCTION AND SUPERVISION OF CAMPERS IN ARTS, CRAFTS, AND OUTDOOR ACTIVITIES.
OTHER SCHOOL PROGRAMS - VARIOUS EXTRA - CURRICULAR ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edward V Parsons Head Of School | Officer | 60 | $397,918 |
Krissie Kelleher Assoc. Head Of Sch. Development/external Relations | Officer | 60 | $245,551 |
Jonathan D Wasserman CFO / Assistant Treasurer | Officer | 60 | $243,205 |
James M Long Assistant Head Of School | 50 | $164,050 | |
Leslie Fraser Upper School Dean Of Facul | 50 | $161,064 | |
Gabriella Sanna Director Of Rsc | 60 | $146,190 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bowdoin Construction Corporation Building Renovations | 6/29/22 | $2,255,202 |
Local Motion Transportation | 6/29/22 | $404,351 |
Flik Independent School Dining Food Service Provider | 6/29/22 | $1,119,537 |
Gdi Services Inc Janitorial Services | 6/29/22 | $226,165 |
Physicianone Urgent Care Covid Testing | 6/29/22 | $238,290 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $375 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,131,765 |
| Noncash contributions included in lines 1a–1f | $964,107 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,132,140 |
| Total Program Service Revenue | $30,014,784 |
| Investment income | $364,651 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $323 |
| Net Gain/Loss on Asset Sales | $1,150,317 |
| Net Income from Fundraising Events | -$10,127 |
| Net Income from Gaming Activities | -$1,104 |
| Net Income from Sales of Inventory | $1,617 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $42,089,621 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $6,558,325 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,070,651 |
| Compensation of current officers, directors, key employees. | $715,163 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $14,057,727 |
| Pension plan accruals and contributions | $891,961 |
| Other employee benefits | $1,651,841 |
| Payroll taxes | $1,074,663 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $28,271 |
| Fees for services: Accounting | $66,225 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $134,601 |
| Fees for services: Other | $25,940 |
| Advertising and promotion | $11,454 |
| Office expenses | $0 |
| Information technology | $273,605 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $102,940 |
| Interest | $600,531 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,056,634 |
| Insurance | $257,582 |
| All other expenses | $2,108,665 |
| Total functional expenses | $35,648,594 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,725,789 |
| Savings and temporary cash investments | $1,625,665 |
| Pledges and grants receivable | $6,209,733 |
| Accounts receivable, net | $184,409 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $70,667 |
| Prepaid expenses and deferred charges | $556,158 |
| Net Land, buildings, and equipment | $49,923,465 |
| Investments—publicly traded securities | $12,799,328 |
| Investments—other securities | $30,042,764 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $610,412 |
| Total assets | $120,748,390 |
| Accounts payable and accrued expenses | $2,063,503 |
| Grants payable | $0 |
| Deferred revenue | $10,998,715 |
| Tax-exempt bond liabilities | $10,270,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $7,395,928 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,914,922 |
| Total liabilities | $33,643,068 |
| Net assets without donor restrictions | $61,931,682 |
| Net assets with donor restrictions | $25,173,640 |
| 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 | $120,748,390 |
Grants Recieved
Over the last fiscal year, we have identified 18 grants that Rivers School Corporation has recieved totaling $1,361,736.
| Awarding Organization | Amount |
|---|---|
Ayco Charitable Foundation Cohoes, NY PURPOSE: EDUCATION | $380,200 |
The Paul And Phyllis Fireman Charitable Foundation Waltham, MA PURPOSE: FOR DONEE'S EXEMPT PURPOSE | $250,000 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $220,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $209,950 |
Columbus Foundation Columbus, OH PURPOSE: EDUCATION | $185,000 |
The Bessemer Giving Fund Woodbridge, NJ PURPOSE: GENERAL SUPPORT | $50,000 |
Endowment Analysis
| Beg. Balance | $36,951,569 |
| Earnings | -$4,721,451 |
| Net Contributions | $1,149,904 |
| Other Expense | $1,321,417 |
| Ending Balance | $32,058,605 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Choate Rosemary Hall Foundation Incorporated Wallingford, CT | $824,930,363 | $80,573,016 |
Hotchkiss School Lakeville, CT | $832,226,197 | $135,336,667 |
St Pauls School Concord, NH | $908,168,263 | $117,316,597 |
Trustees Of Deerfield Academy Deerfield, MA | $1,009,854,595 | $87,019,997 |
Taft School Corporation Watertown, CT | $447,949,060 | $83,525,324 |
Northfield Mount Hermon School Mount Hermon, MA | $279,135,089 | $64,524,302 |
Loomis Institute Windsor, CT | $445,458,169 | $66,028,387 |
Noble And Greenough School Dedham, MA | $357,051,555 | $55,304,957 |
Pinkerton Academy Derry, NH | $88,400,593 | $52,612,732 |
Groton School Groton, MA | $519,152,774 | $50,710,312 |
Kent School Corporation Kent, CT | $229,105,384 | $52,388,614 |
Hopkins School Incorporated New Haven, CT | $238,380,739 | $44,795,541 |