University School
- Assets
- $196.9m
- Revenue
- $67.0m
- Investments
- $49.1m
- Employees
- 383
- Location
- Shaker Heights, OH
- Founding
- 05/1927
- Data as of
- 06/2021
- EIN
- 34-0714720
Organization Overview
University School is located in Shaker Heights, OH. The organization was established in 1927. 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 06/2021, University School employed 383 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University 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, University School generated $67.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.7% each year . All expenses for the organization totaled $41.1m during the year ending 06/2021. While expenses have increased by 3.2% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF UNIVERSITY SCHOOL IS TO DEVELOP PROMISING AND MOTIVATED YOUNG BOYS INTO ACCOMPLISHED AND INDEPENDENT YOUNG MEN WHO ASPIRE TO MAKE A DIFFERENCE IN THE WORLD.
Describe the Organization's Program Activity:
PROVIDE INSTRUCTION TO A REGULARLY-ENROLLED STUDENT BODY(KINDERGARTEN THROUGH GRADE 12) FOR WHICH A REGULAR FACULTY ANDCOLLEGE-PREPARATORY CURRICULUM ARE MAINTAINED. THERE WERE 836FULL-TIME STUDENTS ENROLLED AT THE SCHOOL DURING THE 2020-2021SCHOOL YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick Gallagher Head Of School | Officer | 40 | $333,611 |
David J Wright Finance Director | Officer | 40 | $226,612 |
Jonathan Bridge Director Of Advancement | 40 | $211,753 | |
William Daughtrey Upper School Director | 40 | $170,667 | |
Greg Malkin Director Of Entrepreneur Prog. | 40 | $129,291 | |
Jen Beros Associate Head Of School | 40 | $129,008 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Albert M Higley Construction | 6/29/21 | $4,099,153 |
Precious Cargo Transportation | 6/29/21 | $169,205 |
Field Of Play Baseball Field | 6/29/21 | $179,955 |
Dix & Eaton Pr/marketing | 6/29/21 | $147,970 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $3,312,729 |
| Government grants | $472,358 |
| All other contributions, gifts, grants, and similar amounts not included above | $27,301,974 |
| Noncash contributions included in lines 1a–1f | $878,384 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $31,087,061 |
| Total Program Service Revenue | $28,297,817 |
| Investment income | $3,837,707 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $25,586 |
| Net Gain/Loss on Asset Sales | $3,727,828 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $66,975,999 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $8,296,300 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $308,000 |
| Compensation of current officers, directors, key employees. | $154,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $15,577,572 |
| Pension plan accruals and contributions | $1,425,540 |
| Other employee benefits | $2,424,872 |
| Payroll taxes | $905,461 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35,215 |
| Fees for services: Accounting | $57,730 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $297,039 |
| Office expenses | $0 |
| Information technology | $627,443 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $295,639 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,820,271 |
| Insurance | $288,431 |
| All other expenses | $1,259,923 |
| Total functional expenses | $41,065,425 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,317,904 |
| Pledges and grants receivable | $22,811,347 |
| Accounts receivable, net | $90,576 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $53,731 |
| Prepaid expenses and deferred charges | $1,873,038 |
| Net Land, buildings, and equipment | $60,561,412 |
| Investments—publicly traded securities | $58,038,337 |
| Investments—other securities | $49,091,554 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $85,571 |
| Total assets | $196,923,470 |
| Accounts payable and accrued expenses | $3,563,629 |
| Grants payable | $0 |
| Deferred revenue | $1,396,910 |
| Tax-exempt bond liabilities | $11,250,756 |
| 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 | $2,000,000 |
| Other liabilities | $58,762 |
| Total liabilities | $18,270,057 |
| Net assets without donor restrictions | $79,635,386 |
| Net assets with donor restrictions | $99,018,027 |
| 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 | $196,923,470 |
Grants Recieved
Over the last fiscal year, we have identified 23 grants that University School has recieved totaling $1,338,543.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $646,000 |
Katherine And Lee Chilcote Foundation Cleveland Heights, OH PURPOSE: CHARITABLE | $210,000 |
Cleveland Foundation Cleveland, OH PURPOSE: CLASS OF 1957 ENDOWMENT FOR TEACHING EXCELLENCE | $102,423 |
The Philanthropy Roundtable Inc Washington, DC PURPOSE: SIMON-DEVOS PRIZE | $100,000 |
Goldman Sachs Charitable Gift Fund New York, NY PURPOSE: SCHOLARSHIPS & FINANCIAL AID | $50,000 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $50,000 |
Endowment Analysis
| Beg. Balance | $82,131,058 |
| Earnings | $24,219,797 |
| Net Contributions | $1,062,067 |
| Other Expense | $4,836,213 |
| Ending Balance | $102,576,709 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cranbrook Educational Community Bloomfield Hills, MI | $429,134,973 | $86,571,216 |
Collegium Charter School Exton, PA | $94,797,177 | $61,790,179 |
Episcopal Academy Newtown Square, PA | $290,673,894 | $56,548,486 |
Springside Chestnut Hill Academy Philadelphia, PA | $140,509,475 | $49,945,250 |
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 |
William Penn Charter School Inc Philadelphia, PA | $232,730,859 | $59,443,641 |
Detroit Country Day School Beverly Hills, MI | $149,218,548 | $52,745,036 |
University School Shaker Heights, OH | $196,923,470 | $66,975,999 |
Shady Side Academy Pittsburgh, PA | $133,159,735 | $43,966,956 |
Columbus Academy Gahanna, OH | $107,517,374 | $39,084,449 |