Church Farm School
- Assets
- $186.6m
- Revenue
- $53.1m
- Investments
- $12.9m
- Employees
- 103
- Location
- Exton, PA
- Founding
- 05/1943
- Data as of
- 06/2022
- EIN
- 23-1370498
Organization Overview
Church Farm School is located in Exton, PA. The organization was established in 1943. 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, Church Farm School employed 103 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Church Farm 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 06/2022, Church Farm School generated $53.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 24.4% each year . All expenses for the organization totaled $13.8m during the year ending 06/2022. While expenses have increased by 3.8% 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
THE CHURCH FARM SCHOOL PREPARES A DIVERSE GROUP OF BOYS WITH ACADEMIC ABILITY AND GOOD CHARACTER TO LEAD PRODUCTIVE AND FULFILLING LIVES BY MAKING A COLLEGE PREPARATORY EDUCATION FINANCIALLY ACCESSIBLE.
Describe the Organization's Program Activity:
PROVISION OF A RESIDENTIAL COLLEGE PREPARATORY ENVIRONMENT FOR BOYS IN GRADES 9 THROUGH 12 FROM FINACIALLY DESERVING FAMILIES. THE SCHOOL PROVIDES EDUCATION, HOUSING, FOOD, SOCIAL ACTIVITIES, SUPPORT SERVICES, SOME TRANSPORTATION, AND A WORK PROGRAM FOR APPROXIMATELY 186 BOYS ON A 150 ACRE CAMPUS. NEARLY 100% OF CFS GRADUATES GO ON TO MATRICULATE TO 4 YEAR COLLEGES AND UNIVERSITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rev Edmund K Sherrill II Head Of School | Officer | 50 | $235,824 |
Karen K Wertz Director Of Finance | 50 | $168,482 | |
John V Knorr Director Of Development | 50 | $132,355 | |
Chester C Blair Jr Dir. Of Residential Life | 50 | $125,008 | |
Arthur S Smith Faculty Teacher | 50 | $118,965 | |
Matthew J Burns Chairman | OfficerTrustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Caldwell Heckles & Egan Inc Construction Services | 6/29/22 | $736,460 |
Saul Ewing Arnstein & Lehr Llp Legal Services | 6/29/22 | $184,731 |
T&m Usa Llc Investigation Services | 6/29/22 | $126,996 |
Sodexo Inc And Affiliates Food/janitor Services | 6/29/22 | $932,368 |
Higher Information Group Llc It Services | 6/29/22 | $107,059 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $48,525 |
| Related organizations | $0 |
| Government grants | $174,148 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,445,520 |
| Noncash contributions included in lines 1a–1f | $439,325 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,668,193 |
| Total Program Service Revenue | $554,049 |
| Investment income | $3,573,986 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $125,033 |
| Net Gain/Loss on Asset Sales | $46,180,425 |
| Net Income from Fundraising Events | -$15,913 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $53,085,773 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $308,544 |
| Compensation of current officers, directors, key employees. | $308,544 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,329,548 |
| Pension plan accruals and contributions | $303,884 |
| Other employee benefits | $202,553 |
| Payroll taxes | $349,245 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $252,027 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $182,460 |
| Fees for services: Other | $3,805,625 |
| Advertising and promotion | $276,379 |
| Office expenses | $119,260 |
| Information technology | $458,757 |
| Royalties | $0 |
| Occupancy | $589,103 |
| Travel | $36,634 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $20,879 |
| Interest | $3,453 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,333,096 |
| Insurance | $102,871 |
| All other expenses | $262,382 |
| Total functional expenses | $13,829,149 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,336,384 |
| Pledges and grants receivable | $360,163 |
| Accounts receivable, net | $330,430 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $360,493 |
| Net Land, buildings, and equipment | $24,043,627 |
| Investments—publicly traded securities | $133,978,161 |
| Investments—other securities | $12,937,118 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,255,376 |
| Total assets | $186,601,752 |
| Accounts payable and accrued expenses | $741,167 |
| Grants payable | $0 |
| Deferred revenue | $189,578 |
| Tax-exempt bond liabilities | $0 |
| 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 | $2,457,752 |
| Total liabilities | $3,388,497 |
| Net assets without donor restrictions | $146,427,275 |
| Net assets with donor restrictions | $36,785,980 |
| 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 | $186,601,752 |
Grants Recieved
Over the last fiscal year, we have identified 24 grants that Church Farm School has recieved totaling $568,631.
| Awarding Organization | Amount |
|---|---|
Mary W Van Dusen Trust Ud Pittsburgh, PA PURPOSE: GENERAL OPERATING | $295,132 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $104,800 |
Finley L Walton Est Residuary Tw 1519155500 Las Vegas, NV PURPOSE: GENERAL OPERATING | $28,000 |
Patriarch Family Foundation North Wales, PA PURPOSE: GENERAL FUND | $25,000 |
Ginkinger Memorial Trust 1513076563 Las Vegas, NV PURPOSE: GENERAL OPERATING | $21,445 |
Boudinot Foundation Malvern, PA PURPOSE: GRANT TO ANOTHER 501(C)(3) ORGANIZATION | $15,000 |
Endowment Analysis
| Beg. Balance | $176,398,374 |
| Earnings | -$16,972,194 |
| Net Contributions | $2,975 |
| Other Expense | $12,513,876 |
| Ending Balance | $146,915,279 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Rye Country Day School Rye, NY | $168,719,071 | $53,917,933 |
Pennsylvania Leadership Charter Schools West Chester, PA | $90,879,263 | $65,797,836 |
Hawken School Gates Mills, OH | $144,772,582 | $45,602,433 |
The Public School Of Germantown Fort Washington, PA | $151,608,543 | $52,601,237 |
Peddie School Hightstown, NJ | $613,419,387 | $58,126,453 |
William Penn Charter School Inc Philadelphia, PA | $232,730,859 | $59,443,641 |
Trevor Day School New York, NY | $179,718,336 | $48,695,331 |
International College-Beirut Lebanon New York, NY | $209,567,353 | $51,574,911 |
Montclair Kimberly Academy Foundation Montclair, NJ | $86,504,754 | $51,589,426 |
Bullis School Inc Potomac, MD | $98,208,716 | $48,486,298 |
Princeton Day School Inc Princeton, NJ | $166,237,830 | $58,529,058 |
Nightingale-Bamford School New York, NY | $159,201,980 | $40,384,072 |