Westover School Inc
- Assets
- $114.2m
- Revenue
- $14.9m
- Investments
- $34.8m
- Employees
- 127
- Location
- Middlebury, CT
- Founding
- 11/1943
- Data as of
- 06/2021
- EIN
- 06-0646961
Organization Overview
Westover School Inc is located in Middlebury, CT. The organization was established in 1943. 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 06/2021, Westover School Inc employed 127 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Westover School Inc 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, Westover School Inc generated $14.9m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $17.0m during the year ending 06/2021. 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
WESTOVER SCHOOL EMPOWERS YOUNG WOMEN TO LEAD LIVES OF CONSEQUENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PROGRAM SERVICES RENDERED ARE THOSE ASSOCIATED WITH COLLEGE PREP INSTITUTIONS FOR APPROXIMATELY 188 DURING THE TAX YEAR ENDED JUNE 30, 2021. THESE INCLUDE: PROVIDING AN ENVIRONMENT SUITABLE FOR THE EDUCATION, DORMITORY SERVICE, TEXTBOOKS AND SUPPLIES AND ATHLETIC FACILITIES INCLUDING USE OF THE FACILITIES BY OTHER ORGANIZATIONS FOR THE SAME PURPOSE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Julie Faulstich Head Of School | OfficerTrustee | 40 | $292,494 |
Thomas Gorman Chief Operating Officer | Officer | 40 | $187,789 |
David Tuttle Director Of Enrollment Management | 40 | $118,731 | |
Benjamin Hildebrand Assistant Head Of School | 40 | $110,390 | |
Starr White Snead Board Chair | OfficerTrustee | 0 | $0 |
Jutta Klomberg Vice Chair | OfficerTrustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aramark Foodservice And Catering | 6/29/21 | $577,616 |
Creative Financial Staffing Llc Accounting And Bookkeeping | 6/29/21 | $126,918 |
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 | $3,444,616 |
| Noncash contributions included in lines 1a–1f | $471,412 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,444,616 |
| Total Program Service Revenue | $8,862,826 |
| Investment income | $456,886 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,106,441 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $13,266 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,889,393 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $4,377,618 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $552,550 |
| Compensation of current officers, directors, key employees. | $352,924 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,943,935 |
| Pension plan accruals and contributions | $125,640 |
| Other employee benefits | $723,669 |
| Payroll taxes | $283,630 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $113,601 |
| Fees for services: Accounting | $61,008 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $164,974 |
| Fees for services: Other | $861,838 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,918,648 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $623,565 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,384,665 |
| Insurance | $206,190 |
| All other expenses | $0 |
| Total functional expenses | $16,972,667 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $162,884 |
| Savings and temporary cash investments | $1,170,405 |
| Pledges and grants receivable | $367,204 |
| Accounts receivable, net | $241,080 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $245,993 |
| Inventories for sale or use | $52,295 |
| Prepaid expenses and deferred charges | $22,000 |
| Net Land, buildings, and equipment | $37,215,512 |
| Investments—publicly traded securities | $39,925,121 |
| Investments—other securities | $34,781,285 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $114,183,779 |
| Accounts payable and accrued expenses | $974,297 |
| Grants payable | $0 |
| Deferred revenue | $1,742,057 |
| Tax-exempt bond liabilities | $20,382,119 |
| 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 | $47,232 |
| Other liabilities | $294,938 |
| Total liabilities | $23,440,643 |
| Net assets without donor restrictions | $9,410,043 |
| Net assets with donor restrictions | $81,333,093 |
| 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 | $114,183,779 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Westover School Inc has recieved totaling $183,964.
| Awarding Organization | Amount |
|---|---|
Esther W Spaulding Charitable Tr Buffalo, NY PURPOSE: TO SUPPORT PRIVATE SECONDARY SCHOOLS FOR WOMEN | $175,964 |
Marie Louise Escher Family Charitable Foundation Inc Philadelphia, PA PURPOSE: ANNUAL FUND RAISER | $8,000 |
Endowment Analysis
| Beg. Balance | $64,169,985 |
| Earnings | $12,858,694 |
| Net Contributions | $20,000 |
| Other Expense | $3,200,000 |
| Ending Balance | $73,848,679 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Tabor Academy Marion, MA | $131,644,395 | $42,865,044 |
Berkshire School Inc Sheffield, MA | $360,181,943 | $53,167,690 |
Norwich Free Academy Norwich, CT | $43,430,200 | $37,532,143 |
St Marks School Of Southborough Inc Southborough, MA | $256,704,983 | $26,796,658 |
Beaver Country Day School Inc Chestnut Hill, MA | $85,211,798 | $37,690,859 |
Trustees Of Westminster School Inc Simsbury, CT | $266,021,202 | $46,508,932 |
Williston Northampton School Easthampton, MA | $100,619,158 | $41,610,730 |
St Georges School Newport, RI | $313,371,330 | $43,582,609 |