Pennfield School Inc
- Assets
- $2.7m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 63
- Location
- Portsmouth, RI
- Founding
- 09/1971
- Data as of
- 06/2023
- EIN
- 23-7131751
Organization Overview
Pennfield School Inc is located in Portsmouth, RI. The organization was established in 1971. 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 06/2023, Pennfield School Inc employed 63 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pennfield School 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 06/2023, Pennfield School Inc generated $3.5m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $3.5m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (1.2%) per year over the past 8 years. 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
TO CREATE AN INCLUSIVE COMMUNITY OF DEDICATED LEARNERS, WHERE STUDENTS ARE GIVEN A FOUNDATION AND APPRECIATION FOR THE JOYFUL PURSUITS OF UNDERSTANDING, WHILE FOSTERING RESPECT FOR ONESELF AND OTHERS AS A WAY OF LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PENNFIELD SCHOOL PROVIDES GENERAL EDUCATION AND RELATED ACTIVITIES TO PRIMARY AND ELEMENTARY SCHOOL CHILDREN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Theodore Karousos Chair | OfficerTrustee | 1 | $0 |
Christian Meko Vice Chair | OfficerTrustee | 1 | $0 |
Marie Charles Trustee | Trustee | 1 | $0 |
Julie Connett Trustee | Trustee | 1 | $0 |
Courtney Halvorsen Trustee | Trustee | 1 | $0 |
Lori Hawks Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $39,384 |
| Related organizations | $0 |
| Government grants | $424,171 |
| All other contributions, gifts, grants, and similar amounts not included above | $130,440 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $593,995 |
| Total Program Service Revenue | $2,824,147 |
| Investment income | $27,835 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $20,534 |
| Net Gain/Loss on Asset Sales | $2,760 |
| Net Income from Fundraising Events | $17,007 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,486,278 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $415,776 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $302,108 |
| Compensation of current officers, directors, key employees. | $211,476 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,565,451 |
| Pension plan accruals and contributions | $24,225 |
| Other employee benefits | $128,215 |
| Payroll taxes | $141,710 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $17,796 |
| Fees for services: Accounting | $25,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $56,419 |
| Advertising and promotion | $51,020 |
| Office expenses | $109,406 |
| Information technology | $12,619 |
| Royalties | $0 |
| Occupancy | $171,181 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,244 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $23,485 |
| Insurance | $49,471 |
| All other expenses | $0 |
| Total functional expenses | $3,493,336 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $97,543 |
| Savings and temporary cash investments | $435,238 |
| Pledges and grants receivable | $76,527 |
| Accounts receivable, net | $32,564 |
| 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 | $8,486 |
| Net Land, buildings, and equipment | $135,953 |
| Investments—publicly traded securities | $409,316 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,473,713 |
| Total assets | $2,669,340 |
| Accounts payable and accrued expenses | $45,791 |
| Grants payable | $0 |
| Deferred revenue | $132,536 |
| 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 | $587,264 |
| Total liabilities | $765,591 |
| Net assets without donor restrictions | $1,521,000 |
| Net assets with donor restrictions | $382,749 |
| 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 | $2,669,340 |