Grymes Memorial School Inc
- Assets
- $16.8m
- Revenue
- $6.1m
- Investments
- $0.0
- Employees
- 56
- Location
- Orange, VA
- Founding
- 01/1957
- Data as of
- 06/2022
- EIN
- 54-0617529
Organization Overview
Grymes Memorial School Inc is located in Orange, VA. The organization was established in 1957. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Grymes Memorial School Inc employed 56 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grymes Memorial 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, Grymes Memorial School Inc generated $6.1m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.0% each year . All expenses for the organization totaled $3.4m during the year ending 06/2022. While expenses have increased by 1.4% per year over the past 8 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
GRYMES MEMORIAL SCHOOL IS A RURAL SCHOOL IN ORANGE COUNTY, VA, THAT SERVES FAMILIES FROM MORE THAN FIVE SURROUNDING COUNTIES -- FAMILIES OF REMARKABLE ECONOMIC DIVERSITY, AND WHOSE CHILDREN REFLECT A WIDE RANGE OF ABILITY. IN THE MIDST OF THIS DIVERSITY, WE ARE FORTUNATE TO BE DRAWN TOGETHER BY A SET OF STRONGLY HELD BELIEFS IN THE VITAL IMPORTANCE OF A RIGOROUS EDUCATION, IN THE DESIRABILITY OF CULTIVATING GOOD CHARACTER, IN THE JOYFUL CELEBRATION OF CREATIVITY, AND IN THE WARMTH AND SECURITY THAT A CARING COMMUNITY CAN PROVIDE. AS CHILDREN GROW AND FLOURISH IN THIS ENVIRONMENT, WE LOOK TO THE DAY THAT WE SEND THESE YOUNG LEARNERS ON THEIR WAY TO COMPLETE THEIR EDUCATIONS WITH SOUND FOUNDATION OF KNOWLEDGE AND SKILLS, AND WE HOPE THAT THE JOY AND EXUBERANCE THAT THEY EXPERIENCE HERE AT GRYMES SERVES TO ENCOURAGE A FULL AND PRODUCTIVE LIFE OF LEARNING, CARING, AND CONTRIBUTING TO SOCIETY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRYMES, SITUATED ON 45 ROLLING ACRES IN THE VIRGINIA PIEDMONT, OFFERS A RIGOROUS, CHARACTER-BASED, CREATIVE, JOYFUL, AND CARING LEARNING ENVIRONMENT TO APPROXIMATELY 152 STUDENTS FROM PRE-KINDERGARTEN TO 8TH GRADE. THE GRYMES FACULTY AND STAFF ARE A TALENTED GROUP WHO WORK CLOSELY WITH STUDENTS AND THEIR FAMILIES TO FOSTER THE GROWTH OF EACH CHILD. GRYMES GRADUATES ARE WELL-PREPARED FOR THE BEST INDEPENDENT AND PUBLIC SCHOOL PROGRAMS.
APPROXIMATELY 61% OF STUDENTS RECEIVE TUITION REDUCTIONS THROUGH THE GRYMES TUITION ASSISTANCE PROGRAM EACH YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maggie Bullard Chair | OfficerTrustee | 12.5 | $0 |
Page Sullenberger Vice-Chairman | OfficerTrustee | 12.5 | $0 |
Peter York Treasurer | OfficerTrustee | 12.5 | $0 |
Betty Long Trustee | Trustee | 12.5 | $0 |
Aiden Burke Secretary | OfficerTrustee | 12.5 | $0 |
Yancey Ford Trustee | Trustee | 12.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,641,074 |
| Investment income | $245,082 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $7,200 |
| Net Gain/Loss on Asset Sales | $783,753 |
| Net Income from Fundraising Events | $14,925 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,131,741 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $740,060 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,607,820 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $136,900 |
| Payroll taxes | $118,736 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $26,474 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $46,669 |
| Fees for services: Other | $0 |
| Advertising and promotion | $9,602 |
| Office expenses | $13,146 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $68,878 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $743 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $148,491 |
| Insurance | $28,787 |
| All other expenses | $0 |
| Total functional expenses | $3,377,707 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $335,343 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,301,316 |
| Accounts receivable, net | $23,418 |
| 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 | $46,341 |
| Investments—publicly traded securities | $11,168,609 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $230,847 |
| Total assets | $16,807,855 |
| Accounts payable and accrued expenses | $200,295 |
| Grants payable | $0 |
| Deferred revenue | $359,850 |
| 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 | $2,095 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,528 |
| Total liabilities | $567,768 |
| Net assets without donor restrictions | $3,270,676 |
| Net assets with donor restrictions | $12,969,411 |
| 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 | $16,240,087 |