The Public School Of Germantown
- Assets
- $175.7m
- Revenue
- $63.7m
- Investments
- $6.6m
- Employees
- 606
- Location
- Fort Washington, PA
- Founding
- 05/1937
- Data as of
- 06/2022
- EIN
- 23-1352639
Organization Overview
The Public School Of Germantown, operating under the name Germantown Academy, is located in Fort Washington, PA. The organization was established in 1937. 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 06/2022, Germantown Academy employed 606 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Germantown Academy 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, Germantown Academy generated $63.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $51.6m during the year ending 06/2022. While expenses have increased by 3.5% 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
AN INDEPENDENT, COEDUCATIONAL COLLEGE PREP SCHOOL FOR COMMUTING STUDENTS IN GRADES PRE-K - TWELVE.
Describe the Organization's Program Activity:
GERMANTOWN ACADEMY IS A NON-SECTARIAN, COEDUCATIONAL COLLEGE PREPARATORY SCHOOL EDUCATING STUDENTS FROM PRE-K TO GRADE 12. FOUNDED IN 1759, GERMANTOWN ACADEMY HAS OVER 250 YEARS OF HISTORY, TRADITION, AND OUTSTANDING ACADEMICS. GERMANTOWN ACADEMY IS A PLACE THAT INSPIRES. STUDENTS DEVELOP A LOVE OF LEARNING BEGINNING WITH THE FIRST DAY OF PRE-K THAT CONTINUES THROUGH THE FINAL DAY OF 12TH GRADE AND BEYOND. OUR DEDICATED FACULTY AND STAFF EMBRACE STUDENTS' INNATE CURIOSITY AND ENCOURAGE THEM TO BUILD UPON THEIR NATURAL STRENGTHS WHILE CHALLENGING THEM TO EXPAND THEIR KNOWLEDGE THROUGH A MULTITUDE OF LEARNING EXPERIENCES. THIS IS OUR PROMISE TO OUR STUDENTS, AND IT BECOMES THEIR FOUNDATION FOR LIFE.FOR MORE THAN 250 YEARS, STUDENTS AT GERMANTOWN ACADEMY HAVE BEEN ENCOURAGED TO FOLLOW THEIR PASSIONS. THE CUMULATIVE RESULT IS AN EXCEPTIONAL ACADEMIC, ARTISTIC, ATHLETIC, AND SOCIAL EXPERIENCE THAT CREATES SUCCESSFUL, WELL-EDUCATED, ETHICAL YOUNG PEOPLE WHO BELIEVE THEY CAN MAKE A DIFFERENCE IN THE WORLD.GERMANTOWN ACADEMY IS A PLACE OF INNOVATION. WE ARE AT THE FOREFRONT OF IMPORTANT INITIATIVES SUCH AS 21ST CENTURY CURRICULUM DEVELOPMENT, LANGUAGE INSTRUCTION, AND INTERNATIONAL RELATIONSHIPS. IF A NEW PROGRAM OR IDEA PROVIDES AN OPPORTUNITY FOR OUR STUDENTS, WE WILL EXPLORE IT.WITH TALENTED AND CARING FACULTY, HONEST AND CURIOUS STUDENTS, AND A BEAUTIFUL ENVIRONMENT, GERMANTOWN ACADEMY IS WHERE YOUR CHILD CAN BECOME HIS OR HER BEST SELF. A TOTAL OF 1,207 STUDENTS WERE ENROLLED THIS FISCAL YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Lori R Griswold President/board Chair | OfficerTrustee | 20 | $0 |
Carl Rapp Vice President | OfficerTrustee | 5 | $0 |
John M Galloway Secretary | OfficerTrustee | 5 | $0 |
Janet Haugen Treasurer | OfficerTrustee | 5 | $0 |
Larry Altman Trustee | Trustee | 5 | $0 |
Bela D Bagga Trustee | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aramark Services Inc Cleaning Services | 6/29/22 | $434,187 |
Nexdine Llc Dining Services | 6/29/22 | $160,166 |
Novacare Rehabilitation Athletics Training Services | 6/29/22 | $144,680 |
Canon Financial Services Copier Usage Services | 6/29/22 | $134,288 |
Veracross Llc Software Services | 6/29/22 | $133,686 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $6,975 |
| Related organizations | $0 |
| Government grants | $348,982 |
| All other contributions, gifts, grants, and similar amounts not included above | $15,278,633 |
| Noncash contributions included in lines 1a–1f | $261,992 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,634,590 |
| Total Program Service Revenue | $42,182,570 |
| Investment income | $1,462,735 |
| Tax Exempt Bond Proceeds | $11,880 |
| Royalties | $0 |
| Net Rental Income | $232,397 |
| Net Gain/Loss on Asset Sales | $1,229,229 |
| Net Income from Fundraising Events | $8,781 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $67,040 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $63,739,366 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $8,333,056 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $790,488 |
| Compensation of current officers, directors, key employees. | $149,113 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $21,542,362 |
| Pension plan accruals and contributions | $1,348,941 |
| Other employee benefits | $6,081,200 |
| Payroll taxes | $1,618,204 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $152,677 |
| Fees for services: Accounting | $61,762 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $151,944 |
| Fees for services: Other | $351,287 |
| Advertising and promotion | $106,596 |
| Office expenses | $2,030,810 |
| Information technology | $336,000 |
| Royalties | $0 |
| Occupancy | $2,983,420 |
| Travel | $600,187 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,375,455 |
| Insurance | $392,106 |
| All other expenses | $126,637 |
| Total functional expenses | $51,560,892 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $378,242 |
| Savings and temporary cash investments | $38,906,718 |
| Pledges and grants receivable | $6,600,740 |
| Accounts receivable, net | $92,834 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $31,242 |
| Prepaid expenses and deferred charges | $588,606 |
| Net Land, buildings, and equipment | $78,934,426 |
| Investments—publicly traded securities | $27,813,789 |
| Investments—other securities | $6,636,888 |
| Investments—program-related | $0 |
| Intangible assets | $350,279 |
| Other assets | $15,355,516 |
| Total assets | $175,689,280 |
| Accounts payable and accrued expenses | $2,856,902 |
| Grants payable | $0 |
| Deferred revenue | $12,148,963 |
| Tax-exempt bond liabilities | $32,886,507 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $5,700,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $723,228 |
| Total liabilities | $54,315,600 |
| Net assets without donor restrictions | $68,081,279 |
| Net assets with donor restrictions | $53,292,401 |
| 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 | $175,689,280 |