The Riverbend Center For Montessori Excellence Inc
- Assets
- $19.0m
- Revenue
- $6.4m
- Investments
- $0.0
- Employees
- 82
- Location
- Natick, MA
- Founding
- 08/1971
- Data as of
- 06/2022
- EIN
- 23-7122908
Organization Overview
The Riverbend Center For Montessori Excellence Inc is located in Natick, MA. The organization was established in 1971. According to its NTEE Classification (B21) the organization is classified as: Preschools, under the broad grouping of Education and related organizations. As of 06/2024, Riverbend Center For Montessori Excellence Inc employed 82 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Riverbend Center For Montessori Excellence Inc 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, Riverbend Center For Montessori Excellence Inc generated $6.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $5.6m during the year ending 06/2022. While expenses have increased by 5.2% 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
A COLLABORATIVE MONTESSORI ENVIRONMENT THAT DEVELOPS SELF-MOTIVATED, INDEPENDENT LEARNERS BY INTEGRATING ACADEMIC EXCELLENCE AND A RESPECTFUL SOCIAL COMMUNITY THAT RESULTS IN CONFIDENCE AND LIFELONG ACHIEVEMENT.
Describe the Organization's Program Activity:
RIVERBEND SCHOOL PROVIDES EDUCATIONAL SERVICES TO APPROXIMATELY 200 CHILDREN ANNUALLY FROM PRE-SCHOOL TO GRADE EIGHT. AT RIVERBEND, WE BELIEVE THAT DEEP LEARNING HAPPENS WITHIN A COLLABORATIVE COMMUNITY BUILT UPON MUTUAL RESPECT. OUR MONTESSORI APPROACH AND LOW STUDENT-TO-TEACHER RATIOS ALLOW OUR HIGHLY-TRAINED TEACHERS TO FOLLOW EACH CHILD BY DEVELOPING PERSONALIZED LEARNING PLANS WHILE ALSO NURTURING A STRONG SENSE OF COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Tauer Chair | OfficerTrustee | 2 | $0 |
Emeka Iffih Vice Chair | OfficerTrustee | 2 | $0 |
Melissa Fletcher Treasurer | OfficerTrustee | 2 | $0 |
Diana Baruni Secretary | OfficerTrustee | 2 | $0 |
Jessica Baur Governance C | Trustee | 2 | $0 |
Jim Hartman Advancement | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ce Floyd Company Inc Construction | 6/29/21 | $4,743,781 |
Piatt Associates Inc Architect | 6/29/21 | $162,772 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $820,491 |
| Investment income | $2,553 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $61,545 |
| Net Gain/Loss on Asset Sales | -$9,767 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,418,307 |
| Statement of Expenses | |
|---|---|
| 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. | $359,379 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,760,001 |
| Pension plan accruals and contributions | $78,809 |
| Other employee benefits | $376,480 |
| Payroll taxes | $233,401 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $27,839 |
| Fees for services: Accounting | $19,333 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $60,525 |
| Advertising and promotion | $78,983 |
| Office expenses | $74,023 |
| Information technology | $148,688 |
| Royalties | $0 |
| Occupancy | $320,657 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,419 |
| Interest | $274,144 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $378,904 |
| Insurance | $55,189 |
| All other expenses | $0 |
| Total functional expenses | $5,561,898 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $419,965 |
| Savings and temporary cash investments | $1,519,113 |
| Pledges and grants receivable | $92,088 |
| Accounts receivable, net | $3,283,687 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $13,264 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $93,495 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $19,023,555 |
| Accounts payable and accrued expenses | $396,022 |
| Grants payable | $0 |
| Deferred revenue | $4,634,956 |
| Tax-exempt bond liabilities | $7,253,772 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,707,763 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | -$129,143 |
| Total liabilities | $13,863,370 |
| Net assets without donor restrictions | $5,159,803 |
| Net assets with donor restrictions | $382 |
| 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 | $5,160,185 |