Park School Corporation
- Assets
- $111.8m
- Revenue
- $33.9m
- Investments
- $60.1m
- Employees
- 226
- Location
- Brookline, MA
- Founding
- 08/1949
- Data as of
- 06/2021
- EIN
- 04-2104824
Organization Overview
Park School Corporation is located in Brookline, MA. The organization was established in 1949. 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, Park School Corporation employed 226 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Park 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, Park School Corporation generated $33.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $29.5m during the year ending 06/2021. While expenses have increased by 1.7% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
REFER TO SCHEDULE O, PAGE 67THE PARK SCHOOL IS DEDICATED TO EXCELLENCE IN EDUCATION.THE CORNERSTONE OF PARK'S PROGRAM IS ACADEMIC EXCELLENCE COMBINING BOTH HIGH STANDARDS OF SCHOLARSHIP AND THE ENCOURAGEMENT OF EACH CHILD TO DEVELOP TO HIS OR HER GREATEST POTENTIAL. OUR SCHOOL COMMUNITY FOSTERS A NURTURING ENVIRONMENT IN WHICH CHILDREN DEVELOP CURIOSITY, EXPRESS CREATIVITY, APPRECIATE THE VALUE OF HARD WORK AND DISCIPLINE, AND EXPERIENCE THE JOY OF LEARNING. PARK'S FACULTY ENCOURAGES EACH STUDENT TO STRIVE FOR INTELLECTUAL, PHYSICAL AND MORAL GROWTH, AND TO BECOME CONTRIBUTING MEMBERS OF THE COMMUNITY.PARK IS COMMITTED TO BEING A METROPOLITAN, COEDUCATIONAL, DAY SCHOOL OF DIVERSE RACES, RELIGIONS, CULTURES, AND BACKGROUNDS. CENTRAL TO ITS MISSION IS AN APPRECIATION OF SIMILARITIES AND DIFFERENCES OF PERSPECTIVE AND THE INTERDEPENDENCE OF ALL PEOPLE. AS A FAMILY SCHOOL, PARK IS A COMMUNITY IN WHICH THE DIGNITY OF EACH CHILD, TEACHER, AND PARENT IS RESPECTED.
Describe the Organization's Program Activity:
PARK SCHOOL PROVIDES AN EXCEPTIONAL INDEPENDENT EDUCATION TO 550 BOYS AND GIRLS ENROLLED FROM PRE-KINDERGARTEN THROUGH EIGHTH GRADE.
SUMMER AND AFTER-SCHOOL PROGRAMS - CREATIVE ARTS AT PARK IS A 5 WEEK CAMP WHERE CHILDREN AGES 7 TO 15 CAN EXPLORE THE FULL RANGE OF VISUAL AND PERFORMING ARTS. SUMMER AT PARK IS AN ACA-ACCREDITED CAMP FOR CHILDREN AGES 4 TO 15. CAMPERS CAN PARTICIPATE IN A WIDE VARIETY OF PROGRAMS OF VARYING DURATION THROUGHOUT THE SUMMER. AFTER-SCHOOL PROGRAMS PROVIDE ENRICHING, EXTENDED SCHOOL HOURS FOR THOSE CHILDEN WHO ENROLL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Young Head Of School | Officer | 40 | $333,144 |
Beatrix Sanders Director Of Development | 40 | $241,425 | |
Kimberly Boyd Asst Head For Finance | Officer | 40 | $200,001 |
Kimberly Formisano Lower Division Head | 40 | $184,130 | |
Eric Chapman Assistant Head Of School For Academics | Officer | 40 | $176,777 |
Carole Carter Director Of Technology | 40 | $162,926 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
J Calnan & Associates Inc Construction & Renovations Contractor | 6/29/21 | $1,037,863 |
Flik School Dining | 6/29/21 | $729,939 |
Local Motion Student Transportation Services | 6/29/21 | $338,062 |
Ounce It Llc Technology Services Provider | 6/29/21 | $262,122 |
Creative Office Pavilion Interior Construction Service Provider | 6/29/21 | $270,317 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,992,389 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,280,870 |
| Noncash contributions included in lines 1a–1f | $104,996 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,273,259 |
| Total Program Service Revenue | $23,119,417 |
| Investment income | $277,080 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$5,063 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $33,906,318 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,979,808 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $880,640 |
| Compensation of current officers, directors, key employees. | $880,640 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,754,436 |
| Pension plan accruals and contributions | $530,522 |
| Other employee benefits | $2,092,105 |
| Payroll taxes | $947,674 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $110,305 |
| Fees for services: Accounting | $45,592 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $406,843 |
| Fees for services: Other | $117,173 |
| Advertising and promotion | $154,817 |
| Office expenses | $1,989,837 |
| Information technology | $246,445 |
| Royalties | $0 |
| Occupancy | $567,756 |
| Travel | $323,697 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $90,032 |
| Interest | $708,496 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,946,608 |
| Insurance | $26,080 |
| All other expenses | $11,737 |
| Total functional expenses | $29,534,272 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $11,254,997 |
| Pledges and grants receivable | $4,866,564 |
| Accounts receivable, net | $432,081 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,613,512 |
| Net Land, buildings, and equipment | $30,164,545 |
| Investments—publicly traded securities | $3,375,086 |
| Investments—other securities | $60,140,237 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $111,847,022 |
| Accounts payable and accrued expenses | $2,889,304 |
| Grants payable | $0 |
| Deferred revenue | $6,812,264 |
| Tax-exempt bond liabilities | $16,399,568 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $73,529 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $26,174,665 |
| Net assets without donor restrictions | $62,151,926 |
| Net assets with donor restrictions | $23,520,431 |
| 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 | $111,847,022 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Park School Corporation has recieved totaling $279,050.
| Awarding Organization | Amount |
|---|---|
Richard K Lubin Family Foundation Boston, MA PURPOSE: TO PROVIDE SUPPORT FOR THE NEEDS OF THE ORGANIZATION. | $190,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $28,150 |
Goldman Sachs Philanthropy Fund New York, NY PURPOSE: EDUCATION | $27,500 |
Impactassets Inc Bethesda, MD PURPOSE: GENERAL SUPPORT | $15,000 |
Central New York Community Foundation Inc Syracuse, NY PURPOSE: GENERAL SUPPORT | $10,000 |
Jewish Communal Fund New York, NY PURPOSE: GENERAL SUPPORT | $5,200 |
Endowment Analysis
| Beg. Balance | $51,500,537 |
| Earnings | $15,081,772 |
| Net Contributions | $235,488 |
| Other Expense | $3,800,000 |
| Ending Balance | $63,017,797 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Horace Mann School Bronx, NY | $475,824,158 | $137,244,948 |
Ethical Culture Fieldston School New York, NY | $252,651,487 | $107,394,843 |
Dalton Schools Inc New York, NY | $268,184,018 | $87,154,384 |
Milton Academy Milton, MA | $512,730,465 | $105,004,685 |
Riverdale Country School Inc Bronx, NY | $247,467,239 | $82,826,277 |
Trinity Episcopal Schools Corporation New York, NY | $265,614,292 | $76,873,691 |
United Nations International School New York, NY | $95,948,249 | $80,239,931 |
Columbia Grammar & Preparatory School New York, NY | $126,207,367 | $82,489,526 |
Poly Prep Country Day School Brooklyn, NY | $174,200,532 | $76,376,518 |
Saint Anns School Brooklyn, NY | $162,069,731 | $73,475,158 |
Spence School New York, NY | $416,454,517 | $72,977,566 |
Brunswick School Inc Greenwich, CT | $416,319,503 | $63,510,846 |