Chestnut Hill School
- Assets
- $33.9m
- Revenue
- $12.6m
- Investments
- $2.8m
- Employees
- 198
- Location
- Chestnut Hill, MA
- Founding
- 03/1959
- Data as of
- 06/2023
- EIN
- 04-2178868
Organization Overview
Chestnut Hill School is located in Chestnut Hill, MA. The organization was established in 1959. According to its NTEE Classification (B21) the organization is classified as: Preschools, under the broad grouping of Education and related organizations. As of 06/2023, Chestnut Hill School employed 198 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chestnut Hill 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 06/2023, Chestnut Hill School generated $12.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $12.0m during the year ending 06/2023. While expenses have increased by 2.2% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
ACADEMIC EXCELLENCE IN A CHALLENGING AND SUPPORTIVE ENVIRONMENT IS THE MISSION OF THE CHESTNUT HILL SCHOOL. THE SCHOOL PROVIDES ITS STUDENTS WITH A STRONG FOUNDATION OF LEARNING SKILLS IN A TEACHING ENVIRONMENT WHICH FOSTERS SELF ESTEEM AND EMPOWERS THEM WITH ENTHUSIASM FOR AND CURIOSITY ABOUT DISCOVERING KNOWLEDGE. WITHIN AN ACTIVE COMMUNITY OF STUDENTS, FACULTY, AND FAMILIES, THE CHESTNUT HILL SCHOOL PROMOTES RESPECT BETWEEN INDIVIDUALS AND INVOLVEMENT WITH THE LARGER COMMUNITY.
Describe the Organization's Program Activity:
THE CHESTNUT HILL SCHOOL IS A COEDUCATIONAL DAY SCHOOL FOR CHILDREN FROM BEGINNERS THROUGH SIXTH GRADE THAT FOSTERS AN INCLUSIVE COMMUNITY OF JOYFUL LEARNERS WHO THINK CRITICALLY, EMBRACE DIVERSITY, AND ACT WITH EMPATHY. THE CHESTNUT HILL SCHOOL IS GROUNDED BY THE VALUES AND GUIDING PRINCIPLES OF BELONGING, PURSUIT OF KNOWLEDGE, PERSEVERANCE, AND KINDNESS. OF 244 STUDENTS, 51% IDENTIFY AS STUDENTS OF COLOR, AND 29% RECEIVE FINANCIAL ASSISTANCE. TEACHING FACULTY: 45 TOTAL; 44% HAVE ADVANCED DEGREES. 100% OF GRADUATING SIXTH GRADERS WERE OFFERED ADMISSION TO ONE OF THEIR TOP CHOICE SCHOOLS. THE GENEROUS SUPPORT OF OUR DONORS AND VOLUNTEERS ALLOWS THE CHESTNUT HILL SCHOOL TO ACCOMPLISH MANY OF THE THINGS THAT SET IT APART FROM OTHER INDEPENDENT ELEMENTARY SCHOOLS. WE ARE ABLE TO RETAIN THE MOST QUALIFIED AND CARING FACULTY, PROVIDE A WIDE RANGE OF SPECIAL SUBJECTS AS PART OF OUR CURRICULUM, MAINTAIN BEAUTIFUL BUILDINGS AND GROUNDS, AND PROVIDE FINANCIAL ASSISTANCE TO ELIGIBLE STUDENTS.
THE CHESTNUT HILL SCHOOL HOLDS A SUMMER CAMP FOR CHILDREN FROM AGE 4 THROUGH HIGH SCHOOL EACH SUMMER THAT PROVIDES MEMBERS OF THE SCHOOL AND LOCAL COMMUNITY WITH A HIGH-QUALITY, AFFORDABLE OPTION FOR RECREATION AND EDUCATION DURING JULY AND AUGUST.
THE CHESTNUT HILL SCHOOL OFFERS A VARIETY OF BEFORE AND AFTER SCHOOL PROGRAMS TO ALL STUDENTS AT THE SCHOOL, INCLUDING AN EARLY ARRIVAL PROGRAM, EXTENDED DAY, AFTER-SCHOOL ENRICHMENTCLASSES, PRIVATE MUSIC LESSONS, AND VACATION CAMP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stefan Karlsson Co-President | OfficerTrustee | 1 | $0 |
Stephen Kraus Co-President | OfficerTrustee | 1 | $0 |
Jill Kravetz Vice President - Outgoing | OfficerTrustee | 1 | $0 |
Angela Smith Vice President | OfficerTrustee | 1 | $0 |
Neil Maniar Secretary | OfficerTrustee | 1 | $0 |
Rick Wetmore Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cliftonlarsonallen Llp Audit, Accounting, And Tax | 6/29/23 | $128,477 |
Remington Ounceit Llc It Consultants | 6/29/23 | $116,893 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $516,231 |
| Noncash contributions included in lines 1a–1f | $1,215 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $516,231 |
| Total Program Service Revenue | $11,737,445 |
| Investment income | $248,465 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $150 |
| Net Gain/Loss on Asset Sales | $138,173 |
| Net Income from Fundraising Events | -$11,002 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,629,462 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,869,973 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $494,872 |
| Compensation of current officers, directors, key employees. | $340,672 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,279,571 |
| Pension plan accruals and contributions | $250,770 |
| Other employee benefits | $650,065 |
| Payroll taxes | $423,344 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,453 |
| Fees for services: Accounting | $81,720 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $17,378 |
| Fees for services: Other | $176,416 |
| Advertising and promotion | $147,681 |
| Office expenses | $45,633 |
| Information technology | $260,928 |
| Royalties | $0 |
| Occupancy | $499,418 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $221,284 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $667,612 |
| Insurance | $99,823 |
| All other expenses | $187,120 |
| Total functional expenses | $12,018,752 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,044,889 |
| Savings and temporary cash investments | $3,860,478 |
| Pledges and grants receivable | $13,000 |
| Accounts receivable, net | $6,431,622 |
| 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 | $364,244 |
| Net Land, buildings, and equipment | $9,500,329 |
| Investments—publicly traded securities | $8,807,310 |
| Investments—other securities | $2,841,901 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $33,863,773 |
| Accounts payable and accrued expenses | $655,615 |
| Grants payable | $0 |
| Deferred revenue | $8,781,681 |
| Tax-exempt bond liabilities | $6,812,625 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $16,249,921 |
| Net assets without donor restrictions | $16,317,510 |
| Net assets with donor restrictions | $1,296,342 |
| 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 | $33,863,773 |