Pennington School
- Assets
- $95.1m
- Revenue
- $33.4m
- Investments
- $0.0
- Employees
- 291
- Location
- Pennington, NJ
- Founding
- 09/1944
- Data as of
- 06/2021
- EIN
- 21-0635004
Organization Overview
Pennington School is located in Pennington, NJ. The organization was established in 1944. 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, Pennington School employed 291 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pennington 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 06/2021, Pennington School generated $33.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $31.2m during the year ending 06/2021. While expenses have increased by 4.0% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PENNINGTON SCHOOL IS AN INDEPENDENT CO-EDUCATIONAL SCHOOL SERVING DAY AND BOARDING STUDENTS IN GRADES 6-12. WE ARE DEDICATED TO DEVELOPING EXCELLENCE IN ALL STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COEDUCATIONAL DAY/BOARDING SCHOOL SERVICING GRADES 6 THROUGH 12. THERE ARE APPROXIMATELY 525 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Stevenson Hawkey Head Of School | Officer | 40 | $448,110 |
Charles D Brown Director Of Advancement | 40 | $246,327 | |
John G Mcwhirter Chief Financial Officer | Officer | 40 | $218,042 |
Scott E Peeler Dean Of Academic Affairs | 40 | $121,093 | |
Melissa F Von Stade Director Of Advancement | 40 | $141,359 | |
Sharon Jarboe Director Of Admission | 40 | $113,435 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Amerihealth Ins Co Of New Jersey Medical Insurance | 6/29/22 | $1,816,627 |
Sodexo Inc Affiliates Dining Services | 6/29/22 | $1,766,601 |
Astroturf Corporation Contractor | 6/29/22 | $618,278 |
Commercial Cleaning Corp Housekeeping Service | 6/29/22 | $494,932 |
Van Cleef Engineering Associates Engineer | 6/29/22 | $177,204 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,012,724 |
| Investment income | $1,582,899 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $156,635 |
| Net Gain/Loss on Asset Sales | $491,372 |
| Net Income from Fundraising Events | -$2,910 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $837 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $33,377,887 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $6,239,440 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $786,412 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,129,692 |
| Pension plan accruals and contributions | $743,766 |
| Other employee benefits | $1,736,937 |
| Payroll taxes | $849,508 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $31,105 |
| Fees for services: Accounting | $85,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $167,051 |
| Fees for services: Other | $1,601,411 |
| Advertising and promotion | $15,322 |
| Office expenses | $1,551,685 |
| Information technology | $160,537 |
| Royalties | $0 |
| Occupancy | $2,627,586 |
| Travel | $18,139 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $45,833 |
| Interest | $459,351 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,782,263 |
| Insurance | $205,188 |
| All other expenses | $0 |
| Total functional expenses | $31,241,326 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $9,604,729 |
| Pledges and grants receivable | $1,020,953 |
| Accounts receivable, net | $75,376 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $99,568 |
| Prepaid expenses and deferred charges | $181,159 |
| Investments—publicly traded securities | $44,687,940 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $95,126,184 |
| Accounts payable and accrued expenses | $3,088,186 |
| Grants payable | $0 |
| Deferred revenue | $5,951,163 |
| Tax-exempt bond liabilities | $13,186,080 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $751,221 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $22,976,650 |
| 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 | $72,149,534 |