Key School Inc
- Assets
- $65.3m
- Revenue
- $23.3m
- Investments
- $4.0m
- Employees
- 246
- Location
- Annapolis, MD
- Founding
- 06/1962
- Data as of
- 06/2022
- EIN
- 52-0701774
Organization Overview
Key School Inc is located in Annapolis, MD. The organization was established in 1962. 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, Key School Inc employed 246 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Key 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 06/2022, Key School Inc generated $23.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $21.6m during the year ending 06/2022. While expenses have increased by 3.5% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
INDEPENDENT, NON-SECTARIAN, NON-PROFIT, PK - GRADE 12 SCHOOL
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES EDUCATION FOR STUDENTS FROM PRESCHOOL THROUGH GRADE 12, APPROXIMATELY 664 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew Nespole Head Of School | OfficerTrustee | 60 | $405,916 |
Caroline Ewing Director Of Finance & Operations | Officer | 55 | $145,326 |
Kristen Addison Catlett Lower School Head | 55 | $134,478 | |
David Magnus Middle School Head | 55 | $134,339 | |
Brian Michaels Upper School Head | 55 | $122,338 | |
Thomas Rossini Director/enrollment & Outreach | 55 | $119,041 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Clean Net Of Baltimore Washington Cleaning Service Providers | 6/29/22 | $412,508 |
Brock Food Service Food Service Provider | 6/29/22 | $108,847 |
Brightview Landscape Services Landscaping Services | 6/29/22 | $219,144 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $91,850 |
| Related organizations | $0 |
| Government grants | $1,264,875 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,619,837 |
| Noncash contributions included in lines 1a–1f | $12,633 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,976,562 |
| Total Program Service Revenue | $19,792,272 |
| Investment income | $495,297 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $33,575 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$4,252 |
| Net Income from Gaming Activities | $15,147 |
| Net Income from Sales of Inventory | $2,543 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,337,253 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,455,457 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $613,328 |
| Compensation of current officers, directors, key employees. | $189,686 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,167,968 |
| Pension plan accruals and contributions | $349,151 |
| Other employee benefits | $1,997,908 |
| Payroll taxes | $721,593 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $45,570 |
| Fees for services: Accounting | $44,783 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $105,894 |
| Office expenses | $161,279 |
| Information technology | $205,467 |
| Royalties | $0 |
| Occupancy | $1,668,470 |
| Travel | $117,248 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $444,772 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,514,169 |
| Insurance | $86,906 |
| All other expenses | $334,629 |
| Total functional expenses | $21,646,324 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $25,321 |
| Savings and temporary cash investments | $9,310,966 |
| Pledges and grants receivable | $626,084 |
| Accounts receivable, net | $13,551,660 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,546 |
| Prepaid expenses and deferred charges | $431,393 |
| Net Land, buildings, and equipment | $25,859,803 |
| Investments—publicly traded securities | $11,516,628 |
| Investments—other securities | $4,006,549 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $65,331,950 |
| Accounts payable and accrued expenses | $1,279,036 |
| Grants payable | $0 |
| Deferred revenue | $15,492,213 |
| Tax-exempt bond liabilities | $14,506,183 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $235,547 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $392,683 |
| Total liabilities | $31,905,662 |
| Net assets without donor restrictions | $21,082,910 |
| Net assets with donor restrictions | $12,343,378 |
| 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 | $65,331,950 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Key School Inc has recieved totaling $259,475.
| Awarding Organization | Amount |
|---|---|
Fusco Family Foundation Inc Houston, TX PURPOSE: GENERAL FUND | $126,000 |
Suzanne & David Jackson Foundation Annapolis, MD PURPOSE: GENERAL OPERATIONS | $40,000 |
T Rowe Price Program For Charitable Giving Inc Baltimore, MD PURPOSE: MULTIPLE | $33,750 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $25,000 |
Community Foundation Of Anne Arundel County Inc Annapolis, MD PURPOSE: EDUCATION | $11,500 |
Goldman Sachs Philanthropy Fund New York, NY PURPOSE: EDUCATION | $10,000 |
Endowment Analysis
| Beg. Balance | $19,459,963 |
| Earnings | -$2,073,493 |
| Net Contributions | $118,700 |
| Other Expense | $25,723 |
| Ending Balance | $17,479,447 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pennsylvania Leadership Charter Schools West Chester, PA | $90,879,263 | $65,797,836 |
Potomac School Mclean, VA | $225,192,195 | $49,665,882 |
The Public School Of Germantown Fort Washington, PA | $151,608,543 | $52,601,237 |
Flint Hill School Oakton, VA | $94,406,099 | $45,449,765 |
William Penn Charter School Inc Philadelphia, PA | $232,730,859 | $59,443,641 |
Bullis School Inc Potomac, MD | $98,208,716 | $48,486,298 |
Shady Side Academy Pittsburgh, PA | $133,159,735 | $43,966,956 |
Shipley School Bryn Mawr, PA | $112,919,649 | $39,287,186 |
Charles E Smith Jewish Day School Of Greater Washington Inc Rockville, MD | $72,940,113 | $37,835,110 |
Landon School Corporation Bethesda, MD | $80,382,622 | $54,334,304 |
Cora Services Inc Philadelphia, PA | $13,503,974 | $35,759,289 |
Friends School Of Baltimore Inc Baltimore, MD | $92,747,497 | $38,147,236 |