Taft School Corporation
- Assets
- $447.9m
- Revenue
- $83.5m
- Investments
- $163.3m
- Employees
- 349
- Location
- Watertown, CT
- Founding
- 11/1990
- Data as of
- 06/2022
- EIN
- 06-0646921
Organization Overview
Taft School Corporation is located in Watertown, CT. The organization was established in 1990. 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, Taft School Corporation employed 349 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Taft 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 06/2022, Taft School Corporation generated $83.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $59.3m during the year ending 06/2022. While expenses have increased by 3.0% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE SCHOOL IS TO EDUCATE THE WHOLE STUDENT.
Describe the Organization's Program Activity:
PROVIDE EDUCATION SERVICES AND SUPPORT FOR APPROXIMATELY 600 STUDENTS IN GRADES NINE THROUGH POST-GRADUATE IN A BOARDING AND DAY SETTING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Macmullen President/head Of School | Officer | 40 | $432,322 |
Arthur L Crimmins Dir. Of Development | Officer | 40 | $262,323 |
John H Odden Asst Treasurer/asst Secret | Officer | 40 | $244,760 |
Diane Fountas Dir. Of Health Center | 40 | $194,590 | |
Peter A Frew Dir. Of Admissions | 40 | $170,914 | |
Kaitlin Orfitelli Dir. Of Marketing & Commun | 40 | $154,548 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aramark Corporation Food Services | 6/29/22 | $3,528,468 |
Clark Companies Construction Services | 6/29/22 | $2,926,135 |
American Refrigeration Company Inc Commercial & Industrialrefrigerationand | 6/29/22 | $2,022,209 |
Bushka Lumber & Millwork Llc Construction Services | 6/29/22 | $2,411,514 |
O & G Industries Inc Athletic Facilities Contractor | 6/29/22 | $1,961,483 |
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 | $18,432,688 |
| Noncash contributions included in lines 1a–1f | $757,580 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $18,432,688 |
| Total Program Service Revenue | $38,623,000 |
| Investment income | $3,936,047 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,000 |
| Net Gain/Loss on Asset Sales | $21,907,107 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $197,979 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $83,525,324 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $10,361,928 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,274,299 |
| Compensation of current officers, directors, key employees. | $943,882 |
| Compensation to disqualified persons | $157,933 |
| Other salaries and wages | $17,441,143 |
| Pension plan accruals and contributions | $1,362,850 |
| Other employee benefits | $5,318,098 |
| Payroll taxes | $1,320,111 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $31,116 |
| Fees for services: Accounting | $61,637 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $84,836 |
| Fees for services: Investment Management | $1,733,868 |
| Fees for services: Other | $5,316,436 |
| Advertising and promotion | $43,217 |
| Office expenses | $1,249,178 |
| Information technology | $725,678 |
| Royalties | $0 |
| Occupancy | $2,195,834 |
| Travel | $377,994 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $176,485 |
| Interest | $1,190,086 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,437,303 |
| Insurance | $568,633 |
| All other expenses | $214,047 |
| Total functional expenses | $59,337,990 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $24,088,727 |
| Pledges and grants receivable | $9,161,672 |
| Accounts receivable, net | $7,904,576 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $321,088 |
| Prepaid expenses and deferred charges | $966,251 |
| Net Land, buildings, and equipment | $121,321,250 |
| Investments—publicly traded securities | $120,543,819 |
| Investments—other securities | $163,304,868 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $336,809 |
| Total assets | $447,949,060 |
| Accounts payable and accrued expenses | $3,094,290 |
| Grants payable | $0 |
| Deferred revenue | $19,537,506 |
| Tax-exempt bond liabilities | $37,946,988 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $12,254 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,012,979 |
| Total liabilities | $65,604,017 |
| Net assets without donor restrictions | $179,857,625 |
| Net assets with donor restrictions | $202,487,418 |
| 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 | $447,949,060 |
Grants Recieved
Over the last fiscal year, we have identified 35 grants that Taft School Corporation has recieved totaling $1,606,633.
| Awarding Organization | Amount |
|---|---|
Shelby Cullom Davis Charitable Fund Inc Wilmington, DE PURPOSE: DAVIS INTERNATIONAL SCHOLARS PROGRAM | $484,385 |
Goldman Sachs Philanthropy Fund New York, NY PURPOSE: EDUCATION | $351,475 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $166,700 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $102,500 |
Goldman Sachs Charitable Gift Fund New York, NY PURPOSE: SCHOLARSHIPS & FINANCIAL AID | $75,000 |
Tr U/W Marian W Ottley Watertown Las Vegas, NV PURPOSE: GENERAL OPERATING | $75,000 |
Endowment Analysis
| Beg. Balance | $317,757,768 |
| Earnings | -$30,863,964 |
| Net Contributions | $9,767,003 |
| Other Expense | $6,669,066 |
| Grants | $4,530,934 |
| Ending Balance | $285,460,807 |
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 |
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 |
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 |
Middlesex School Concord, MA | $485,283,896 | $51,739,388 |
Trustees Of Thayer Academy Braintree, MA | $161,523,903 | $74,068,471 |