Morristown-Beard School
- Assets
- $73.1m
- Revenue
- $35.0m
- Investments
- $809.1k
- Employees
- 349
- Location
- Morristown, NJ
- Founding
- 09/1943
- Data as of
- 06/2023
- EIN
- 22-1487252
Organization Overview
Morristown-Beard School is located in Morristown, NJ. 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 06/2023, Morristown-Beard School employed 349 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Morristown-Beard 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 06/2023, Morristown-Beard School generated $35.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $34.0m during the year ending 06/2023. While expenses have increased by 3.2% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE SCHOOL IS AN EDUCATIONAL COLLEGE PREPARATORY SCHOOL IN GRADES 6 TO 12.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MORRISTOWN-BEARD SCHOOL IS AN INDEPENDENT, COEDUCATIONAL DAY SCHOOL SERVING STUDENTS FROM MORE THAN 85 COMMUNITIES AND NINE COUNTIES IN NORTHERN NEW JERSEY. THERE ARE 600 STUDENTS IN GRADES 6-12, WITH AN UPPER SCHOOL ENROLLMENT OF 450 AND MIDDLE SCHOOL OF 150.STUDENTS LEAVE MBS EXCEEDINGLY WELL PREPARED FOR THE CHALLENGES OF COLLEGE AND UNIVERSITY STUDIES. THEIR SKILLS IN THINKING, WRITING, AND TIME MANAGEMENT SET THEM APART AMONG ENTERING COLLEGE STUDENTS, WHILE THE QUALITIES OF MIND THEY DEVELOP HERE POSITION THEM FOR SUCCESS LONG AFTER COLLEGE. THESE STRENGTHS FROM COMMUNICATION AND COLLABORATION TO THE ABILITY TO SOLVE COMPLEX, OPEN-ENDED PROBLEMS LEAD NEARLY EVERY LIST OF CAPABILITIES FOR 21ST-CENTURY SUCCESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth Morrison Head Of School | OfficerTrustee | 55 | $468,724 |
Ravi Chopra Co-President | OfficerTrustee | 10 | $0 |
Carisa Strauss Co-President | OfficerTrustee | 10 | $0 |
Darnell Parker Vice President | OfficerTrustee | 10 | $0 |
Lee Kellogg Sadrian Vice President | OfficerTrustee | 10 | $0 |
Kelly Ewing Vice President | OfficerTrustee | 10 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dsg Services Cleaning Services | 6/29/23 | $664,140 |
A&d Staffing Staffing Services | 6/29/23 | $465,717 |
Global Sheet Metal Repairs And Maintenance | 6/29/23 | $176,869 |
Amazon Contractor Llc Repairs And Maintenance | 6/29/23 | $280,150 |
Belair Transport Student Bus Transportation | 6/29/23 | $304,301 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $85,051 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,534,375 |
| Noncash contributions included in lines 1a–1f | $927,801 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,619,426 |
| Total Program Service Revenue | $31,575,996 |
| Investment income | $800,076 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $58 |
| Net Income from Fundraising Events | -$14,948 |
| Net Income from Gaming Activities | $2,000 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $34,984,658 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,849,321 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,285,124 |
| Compensation of current officers, directors, key employees. | $896,068 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $13,841,955 |
| Pension plan accruals and contributions | $895,724 |
| Other employee benefits | $2,795,793 |
| Payroll taxes | $1,169,194 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $67,440 |
| Fees for services: Accounting | $73,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $35,095 |
| Fees for services: Other | $1,196,412 |
| Advertising and promotion | $272,650 |
| Office expenses | $652,622 |
| Information technology | $596,430 |
| Royalties | $0 |
| Occupancy | $500,380 |
| Travel | $284,629 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $57,583 |
| Interest | $20,366 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,210,450 |
| Insurance | $343,439 |
| All other expenses | $205,599 |
| Total functional expenses | $34,022,511 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $160,015 |
| Savings and temporary cash investments | $4,249,712 |
| Pledges and grants receivable | $524,061 |
| Accounts receivable, net | $312,728 |
| Loans from Officers, Directors, or Controlling Persons | $25,000 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $71,767 |
| Prepaid expenses and deferred charges | $106,872 |
| Net Land, buildings, and equipment | $41,114,921 |
| Investments—publicly traded securities | $25,141,030 |
| Investments—other securities | $809,100 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $570,603 |
| Total assets | $73,085,809 |
| Accounts payable and accrued expenses | $2,303,991 |
| Grants payable | $0 |
| Deferred revenue | $2,590,756 |
| Tax-exempt bond liabilities | $522,049 |
| 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 | $5,416,796 |
| Net assets without donor restrictions | $44,864,039 |
| Net assets with donor restrictions | $22,804,974 |
| 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 | $73,085,809 |