South Kent School Corp
- Assets
- $39.4m
- Revenue
- $14.4m
- Investments
- $5.2m
- Employees
- 85
- Location
- South Kent, CT
- Founding
- 01/1935
- Data as of
- 06/2021
- EIN
- 06-0646906
Organization Overview
South Kent School Corp is located in South Kent, CT. The organization was established in 1935. 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, South Kent School Corp employed 85 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. South Kent School Corp 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, South Kent School Corp generated $14.4m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $12.3m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (0.4%) per year over the past 7 years. 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
SOUTH KENT SCHOOL, ESTABLISHED IN 1923, IS A COLLEGE-PREPARATORY SCHOOL FOR BOYS IN GRADES 9 THROUGH 12. WE DEVELOP YOUNG MEN WHO CAN EVOLVE AND ADAPT, BE GLOBALLY COMPETITIVE AND PREPARED TO MEET THE CHALLENGES POSED BY A CHANGING NATURAL ENVIRONMENT. THEIR TIME AT SOUTH KENT PREPARES OUR STUDENTS FOR SUCCESS AT EACH POINT IN THEIR LIFE. THREE PRINCIPLES DEFINE THE SCHOOL: SIMPLICITY OF LIFE, SELF-RELIANCE, AND DIRECTNESS OF PURPOSE.SOUTH KENT SCHOOL IS ACCREDITED BY THE NEW ENGLAND ASSOCIATION OF SCHOOLS AND COLLEGES AND HOLDS MEMBERSHIPS IN THE CUM LAUDE SOCIETY, THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS, THE NATIONAL ASSOCIATION OF EPISCOPAL SCHOOLS, THE SECONDARY SCHOOL ADMISSION TEST BOARD, THE CONNECTICUT ASSOCIATION OF INDEPENDENT SCHOOLS, THE ASSOCIATION OF BOARDING SCHOOLS, THE INTERNATIONAL COALITION OF BOYS SCHOOLS AND THE NATIONAL ASSOCIATION FOR COLLEGE ADMISSION COUNSELING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
A PRIVATE SECONDARY EDUCATIONAL INSTITUTION FOR APPROXIMATELY 141 BOARDING AND DAY STUDENTS (BOYS). THE SCHOOL PROVIDES AN ENVIRONMENT THAT ENCOURAGES INTELLECTUAL, CULTURAL AND ATHLETIC ACHIEVEMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John P Carey Trustee | Trustee | 1 | $0 |
Hani Ms Farsi Trustee | Trustee | 1 | $0 |
Anne H Funnell Trustee | Trustee | 1 | $0 |
James M Garnett Jr Treasurer | OfficerTrustee | 1 | $0 |
Joshua Hanfling Trustee | Trustee | 1 | $0 |
Curtis Himy Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Flik Independent Schools Food Service | 6/29/22 | $1,009,959 |
Pbm-preferred Building Maintenance Llc Cleaning Service | 6/29/22 | $248,280 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,603,059 |
| Investment income | $303,359 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $291,575 |
| Net Gain/Loss on Asset Sales | -$81,137 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $52,177 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,351,680 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $3,218,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $510,097 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,883,942 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $522,658 |
| Payroll taxes | $226,648 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $34,037 |
| Fees for services: Accounting | $34,640 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $2,862 |
| Fees for services: Investment Management | $69,623 |
| Fees for services: Other | $209,854 |
| Advertising and promotion | $50,813 |
| Office expenses | $165,953 |
| Information technology | $123,845 |
| Royalties | $0 |
| Occupancy | $932,154 |
| Travel | $3,777 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $36,897 |
| Interest | $341,076 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $972,926 |
| Insurance | $145,443 |
| All other expenses | $0 |
| Total functional expenses | $12,253,224 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,420,846 |
| Savings and temporary cash investments | $310,312 |
| Pledges and grants receivable | $373,641 |
| Accounts receivable, net | $2,795,797 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $15,034 |
| Inventories for sale or use | $56,674 |
| Prepaid expenses and deferred charges | $60,370 |
| Investments—publicly traded securities | $8,999,927 |
| Investments—other securities | $5,153,547 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $219,426 |
| Total assets | $39,417,469 |
| Accounts payable and accrued expenses | $550,736 |
| Grants payable | $126,151 |
| Deferred revenue | $4,859,035 |
| 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 | $10,966,093 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $515,122 |
| Total liabilities | $17,017,137 |
| 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 | $22,400,332 |