Laurel School
- Assets
- $93.7m
- Revenue
- $30.6m
- Investments
- $11.4m
- Employees
- 279
- Location
- Shaker Heights, OH
- Founding
- 12/1940
- Data as of
- 06/2021
- EIN
- 34-0714451
Organization Overview
Laurel School is located in Shaker Heights, OH. The organization was established in 1940. 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, Laurel School employed 279 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Laurel 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 06/2021, Laurel School generated $30.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.3% each year. All expenses for the organization totaled $24.6m during the year ending 06/2021. While expenses have increased by 1.2% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF LAUREL SCHOOL IS TO INSPIRE EACH GIRL TO FULFILL HER PROMISE AND TO BETTER THE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LAUREL SCHOOL FOUNDED IN 1896, IS A NATIONALLY-RECOGNIZED COLLEGE PREPARATORY, INDEPENDENT DAY SCHOOL FOR GIRLS, KINDERGARTEN THROUGH GRADE 12, WITH A COEDUCATIONAL EARLY CHILDHOOD PROGRAM. LAUREL SCHOOL HAS TWO CAMPUSES AFFORDING STUDENTS OPPORTUNITIES TO LEARN IN TRADITIONAL SETTINGS SUCH AS LABS, STUDIOS, AND LIBRARIES, AS WELL AS IN OUR UNIQUE ENVIRONMENTAL CLASSROOMS. THE LYMAN CIRCLE CAMPUS IS HOME TO ALL FOUR ACADEMIC DIVISIONS. THE BUTLER CAMPUS IS EXTENSIVE ATHLETIC FACILITIES AND OPPORTUNITIES FOR OUTDOOR EDUCATION AND LEADERSHIP-BUILDING PROGRAMS. LAUREL SCHOOL HAS APPROXIMATELY 547 STUDENTS ENROLLED IN 2021-22 AND 538 IN 2022-23.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Megan Lum Mehalko Chair | OfficerTrustee | 2 | $0 |
Susan Shons Luria Secretary | OfficerTrustee | 2 | $0 |
Bethany Bryant Treasurer | OfficerTrustee | 2 | $0 |
Zahrah Azhar Director | Trustee | 2 | $0 |
Kristine Swails Bryan Director | Trustee | 2 | $0 |
Gausia Chowdhury Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tiaa-cref 403(b) | 6/29/22 | $1,108,449 |
Key2business Credit Cards | 6/29/22 | $732,575 |
Piper Sandler Swap | 6/29/22 | $589,192 |
Precious Cargo Transportation Inc Transportation | 6/29/22 | $187,927 |
Avi Foodsystems Food Service | 6/29/22 | $546,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,047,021 |
| Investment income | $2,436,345 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,631,254 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $30,554,235 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $4,213,607 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $783,315 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,023,865 |
| Pension plan accruals and contributions | $227,953 |
| Other employee benefits | $2,037,566 |
| Payroll taxes | $547,167 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $57,403 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $54,850 |
| Fees for services: Investment Management | $140,622 |
| Fees for services: Other | $71,173 |
| Advertising and promotion | $222,679 |
| Office expenses | $251,138 |
| Information technology | $662,592 |
| Royalties | $0 |
| Occupancy | $44,743 |
| Travel | $183,910 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $100,145 |
| Interest | $975,860 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,318,935 |
| Insurance | $162,640 |
| All other expenses | $0 |
| Total functional expenses | $24,568,838 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,464,916 |
| Savings and temporary cash investments | $2,228,055 |
| Pledges and grants receivable | $2,131,206 |
| Accounts receivable, net | $171,371 |
| 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 | $605,309 |
| Investments—publicly traded securities | $52,044,547 |
| Investments—other securities | $11,378,531 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,005,492 |
| Total assets | $93,663,141 |
| Accounts payable and accrued expenses | $1,329,435 |
| Grants payable | $0 |
| Deferred revenue | $1,446,559 |
| Tax-exempt bond liabilities | $15,527,840 |
| 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 | $5,797,938 |
| Total liabilities | $24,101,772 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $69,561,369 |