University School
- Assets
- $196.9m
- Revenue
- $67.0m
- Investments
- $49.1m
- Employees
- 451
- 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 06/2022, University School employed 451 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 7 years, it has increased revenue by an average of 10.8% each year . All expenses for the organization totaled $41.1m during the year ending 06/2021. While expenses have increased by 2.7% 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 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:
Part 3 - Line 4a
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 2021-2022SCHOOL YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dick Hollington President | OfficerTrustee | 1 | $0 |
Mike Adams Treasurer | OfficerTrustee | 1 | $0 |
Joe Juster Secretary | OfficerTrustee | 1 | $0 |
Fred Asbeck Trustee | Trustee | 1 | $0 |
Durga Chiguraptai Trustee | Trustee | 1 | $0 |
John Feighan Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Midstates Recreation Playground Equipment | 6/29/22 | $315,531 |
Precious Cargo Transportation | 6/29/22 | $242,723 |
Annum Architects Architectural | 6/29/22 | $200,000 |
Dix & Eaton Pr/marketing | 6/29/22 | $175,040 |
Warren Roofing Roofing | 6/29/22 | $151,850 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $31,087,061 |
| 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 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 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 | $0 |
| 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 |
| 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 | $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 | $178,653,413 |