Norfolk Collegiate School
- Assets
- $25.0m
- Revenue
- $14.7m
- Investments
- $0.0
- Employees
- 221
- Location
- Norfolk, VA
- Founding
- 08/1967
- Data as of
- 06/2024
- EIN
- 54-0806413
Organization Overview
Norfolk Collegiate School is located in Norfolk, VA. The organization was established in 1967. 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 06/2024, Norfolk Collegiate School employed 221 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Norfolk Collegiate 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 06/2024, Norfolk Collegiate School generated $14.7m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $15.2m during the year ending 06/2024. While expenses have increased by 1.2% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO EDUCATE A DIVERSE BODY OF STUDENTS TO THRIVE IN A COLLEGE SETTING AND BEYOND.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF A PRIVATE SCHOOL WITH AN APPROXIMATE ENROLLMENT OF 600 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Taylor Franklin Vise President | OfficerTrustee | 2 | $0 |
Langbourne Williams Chairman | OfficerTrustee | 2 | $0 |
William L Taliaferro Jr Trustee | Trustee | 2 | $0 |
Alison Carlsmith Secretary | OfficerTrustee | 2 | $0 |
George M Rector Trustee | Trustee | 2 | $0 |
William B Brock Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Flik Dining Services Food Service | 6/29/24 | $914,282 |
The Budd Group Inc Building & Maintenance | 6/29/24 | $799,758 |
Blackbaud Software Programs | 6/29/24 | $103,064 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,166,609 |
| Noncash contributions included in lines 1a–1f | $122,882 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,166,609 |
| Total Program Service Revenue | $13,087,371 |
| Investment income | $100,671 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $81,607 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $246,064 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,682,322 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,193,369 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $258,939 |
| Compensation of current officers, directors, key employees. | $49,231 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,859,828 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $350,832 |
| Payroll taxes | $520,889 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,614 |
| Fees for services: Other | $1,174,585 |
| Advertising and promotion | $95,865 |
| Office expenses | $0 |
| Information technology | $47,922 |
| Royalties | $0 |
| Occupancy | $340,940 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,095 |
| Interest | $165,491 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $760,615 |
| Insurance | $114,858 |
| All other expenses | $911,953 |
| Total functional expenses | $15,164,911 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,473,958 |
| Savings and temporary cash investments | $229,736 |
| Pledges and grants receivable | $312,196 |
| Accounts receivable, net | $128,786 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $31,797 |
| Prepaid expenses and deferred charges | $150,027 |
| Net Land, buildings, and equipment | $16,372,171 |
| Investments—publicly traded securities | $4,051,447 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $219,410 |
| Total assets | $24,969,528 |
| Accounts payable and accrued expenses | $1,051,746 |
| Grants payable | $0 |
| Deferred revenue | $2,928,475 |
| Tax-exempt bond liabilities | $4,613,114 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $149,112 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $31,407 |
| Total liabilities | $8,773,854 |
| Net assets without donor restrictions | $12,758,233 |
| Net assets with donor restrictions | $3,437,441 |
| 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 | $24,969,528 |