Kent Place School
- Assets
- $74.2m
- Revenue
- $35.7m
- Investments
- $1.9m
- Employees
- 322
- Location
- Summit, NJ
- Founding
- 05/1923
- Data as of
- 06/2021
- EIN
- 22-1487233
Organization Overview
Kent Place School is located in Summit, NJ. The organization was established in 1923. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2021, Kent Place School employed 322 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kent Place 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, Kent Place School generated $35.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $35.9m during the year ending 06/2021. While expenses have increased by 3.7% per year over the past 6 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
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR KENT PLACE CURRICULUM AND PROGRAMS ARE RICH IN OPPORTUNITIES FOR STUDENTS TO DEVELOP ETHICAL DECISION-MAKING, CRITICAL THINKING, AND PROBLEM-SOLVING SKILLS. WE PROMOTE INTEGRITY, INITIATIVE, AND INCLUSION THROUGHOUT ALL OF THE SCHOOLING YEARS. OUR STUDENTS TAKE ON INCREASINGLY PROFOUND LEADERSHIP OPPORTUNITIES THAT FOSTER COLLABORATION AND SELF-AWARENESS WHILE ALSO CULTIVATING COMPASSION AND EMPATHY. WE BELIEVE THAT THE LESSONS AND VALUES ENCOURAGED BY OUR MULTI-TALENTED FACULTY PREPARE EACH STUDENT TO BE AN ACTIVE CONTRIBUTOR TO THE LARGER WORLD BEYOND KENT PLACE. KENT PLACE IS HOME TO A WIDE ARRAY OF CURRICULAR AND COCURRICULAR ACTIVITIES, AS WELL AS OUR SIGNATURE PROGRAMS SUCH AS THE GIRLS' LEADERSHIP INSTITUTE, NOW ENTERING ITS 26TH YEAR OF EMPOWERING GIRLS TO DISCOVER THEIR FULL LEADERSHIP POTENTIAL, AND OUR RENOWNED ETHICS INSTITUTE, WHICH PROMOTES THE PROCESS AND PRACTICE OF ETHICAL DECISION-MAKING IN PRIMARY AND SECONDARY SCHOOL COMMUNITIES. KENT PLACE ALSO OFFERS A TRADITIONAL SUMMER DAY CAMP, AFTERSCHOOL PROGRAMS, AND ENRICHMENT CLASSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer C Galambos Head Of School | OfficerTrustee | 40 | $377,494 |
Genevieve Madigan Chief Financial Officer | Officer | 40 | $230,746 |
Karen Rezach Director Of The Ethics Inst. | 40 | $195,259 | |
Jennifer Simpson Director Of College Advising | 40 | $188,021 | |
Julia Morgan Asst. Head Of School For Teach | 40 | $187,331 | |
Coral Brooks Director Of Advancement | 40 | $183,147 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Avi Foodsystems Inc Food Service | 6/29/21 | $554,101 |
Stafford Plumbling Heating Plumbing/heating | 6/29/21 | $133,285 |
John O'hara Company Inc Construction | 6/29/21 | $704,452 |
Finsbury Llc Public Relations | 6/29/21 | $112,204 |
Generation Branding And Communicati Graphic Design | 6/29/21 | $117,974 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,937,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,982,244 |
| Noncash contributions included in lines 1a–1f | $123,841 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,919,244 |
| Total Program Service Revenue | $29,827,186 |
| Investment income | $559,039 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $356,357 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$20,999 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $35,657,548 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,697,016 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,094,809 |
| Compensation of current officers, directors, key employees. | $966,983 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $14,723,490 |
| Pension plan accruals and contributions | $1,049,500 |
| Other employee benefits | $2,549,241 |
| Payroll taxes | $1,195,148 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $205,179 |
| Fees for services: Accounting | $47,690 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $87,921 |
| Fees for services: Other | $267,202 |
| Advertising and promotion | $95,108 |
| Office expenses | $2,004,500 |
| Information technology | $974,247 |
| Royalties | $0 |
| Occupancy | $1,393,072 |
| Travel | $28,076 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $175,323 |
| Interest | $136,160 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,453,552 |
| Insurance | $266,184 |
| All other expenses | $485,686 |
| Total functional expenses | $35,861,111 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,499,114 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,150,884 |
| Accounts receivable, net | $480,756 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $161,334 |
| Prepaid expenses and deferred charges | $1,736,174 |
| Net Land, buildings, and equipment | $42,770,039 |
| Investments—publicly traded securities | $20,494,900 |
| Investments—other securities | $1,873,053 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $74,166,254 |
| Accounts payable and accrued expenses | $2,864,538 |
| Grants payable | $0 |
| Deferred revenue | $3,494,810 |
| Tax-exempt bond liabilities | $4,000,186 |
| 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 | $10,359,534 |
| Net assets without donor restrictions | $40,459,985 |
| Net assets with donor restrictions | $23,346,735 |
| 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 | $74,166,254 |
Grants Recieved
Over the last fiscal year, we have identified 25 grants that Kent Place School has recieved totaling $340,260.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $83,652 |
Bny Mellon Charitable Gift Fund Boston, MA PURPOSE: TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE | $75,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $52,750 |
William Gross Charitable Foundation Inc Jersey City, NJ PURPOSE: DONATION TO KENT PLACE FUND | $25,000 |
Goldman Sachs Charitable Gift Fund New York, NY PURPOSE: SCHOLARSHIPS & FINANCIAL AID | $25,000 |
Turrell Fund Montclair, NJ PURPOSE: PROGRAM SUPPORT | $22,500 |
Endowment Analysis
| Beg. Balance | $19,368,498 |
| Earnings | $4,131,437 |
| Net Contributions | $413,746 |
| Other Expense | $363,990 |
| Grants | $445,246 |
| Ending Balance | $23,104,445 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Horace Mann School Bronx, NY | $475,824,158 | $137,244,948 |
Ethical Culture Fieldston School New York, NY | $252,651,487 | $107,394,843 |
Dalton Schools Inc New York, NY | $268,184,018 | $87,154,384 |
Riverdale Country School Inc Bronx, NY | $247,467,239 | $82,826,277 |
Trinity Episcopal Schools Corporation New York, NY | $265,614,292 | $76,873,691 |
United Nations International School New York, NY | $95,948,249 | $80,239,931 |
Columbia Grammar & Preparatory School New York, NY | $126,207,367 | $82,489,526 |
Poly Prep Country Day School Brooklyn, NY | $174,200,532 | $76,376,518 |
Saint Anns School Brooklyn, NY | $162,069,731 | $73,475,158 |
Pingry Corporation Basking Ridge, NJ | $215,792,985 | $70,756,009 |
Spence School New York, NY | $416,454,517 | $72,977,566 |
Collegium Charter School Exton, PA | $94,797,177 | $61,790,179 |