Norfolk Collegiate School
- Assets
- $25.1m
- Revenue
- $13.8m
- Investments
- $0.0
- Employees
- 218
- Location
- Norfolk, VA
- Founding
- 08/1967
- Data as of
- 06/2022
- 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 06/2022, Norfolk Collegiate School employed 218 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 06/2022, Norfolk Collegiate School generated $13.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $13.6m during the year ending 06/2022. 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
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 |
|---|---|---|---|
Scott G Kennedy Head Of School | Officer | 60 | $218,399 |
Stacy Nixon Assistant Head For Advancement | 40 | $135,574 | |
Cary Sawyer Director Of Finance And Operations | 40 | $127,775 | |
Anne Claywell Head Of Upper School | 40 | $103,202 | |
Taylor Franklin Vise President | OfficerTrustee | 2 | $0 |
Langbourne Williams Chairman | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Budd Group Inc Building & Maintenance | 6/29/22 | $698,847 |
Flik Dining Services Food Service | 6/29/22 | $649,133 |
Alpha Group Investigations Security Services | 6/29/22 | $106,157 |
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 | $1,426,571 |
| Noncash contributions included in lines 1a–1f | $108,823 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,426,571 |
| Total Program Service Revenue | $12,027,011 |
| Investment income | $88,489 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $93,729 |
| Net Gain/Loss on Asset Sales | $7,332 |
| Net Income from Fundraising Events | $188,857 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,831,989 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,965,415 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $261,695 |
| Compensation of current officers, directors, key employees. | $41,994 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,145,142 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $299,262 |
| Payroll taxes | $448,946 |
| 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 | $10,673 |
| Fees for services: Other | $1,045,262 |
| Advertising and promotion | $108,209 |
| Office expenses | $0 |
| Information technology | $30,050 |
| Royalties | $0 |
| Occupancy | $311,922 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,613 |
| Interest | $271,038 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $737,522 |
| Insurance | $105,584 |
| All other expenses | $902,342 |
| Total functional expenses | $13,557,371 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,693,935 |
| Savings and temporary cash investments | $334,368 |
| Pledges and grants receivable | $448,236 |
| Accounts receivable, net | $51,563 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $32,442 |
| Prepaid expenses and deferred charges | $168,436 |
| Net Land, buildings, and equipment | $17,483,313 |
| Investments—publicly traded securities | $2,761,603 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $127,887 |
| Total assets | $25,101,783 |
| Accounts payable and accrued expenses | $760,620 |
| Grants payable | $0 |
| Deferred revenue | $2,722,130 |
| Tax-exempt bond liabilities | $5,189,535 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $149,387 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $8,821,672 |
| Net assets without donor restrictions | $13,544,553 |
| Net assets with donor restrictions | $2,735,558 |
| 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 | $25,101,783 |
Grants Recieved
Over the last fiscal year, we have identified 15 grants that Norfolk Collegiate School has recieved totaling $407,966.
| Awarding Organization | Amount |
|---|---|
Franklin Family Foundation Virginia Beach, VA PURPOSE: TO EDUCATE A DIVERSE BODY OF STUDENTS TO THRIVE IN A COLLEGE SETTING AND BEYOND | $226,799 |
Beazley Foundation Inc Portsmouth, VA PURPOSE: RENOVATION- CLIMATE CONTROL SYSTEM | $80,000 |
Impactassets Inc Bethesda, MD PURPOSE: GENERAL PURPOSE | $30,000 |
Ayco Charitable Foundation Cohoes, NY PURPOSE: EDUCATION | $25,000 |
Hampton Roads Community Foundation Norfolk, VA PURPOSE: 2021 DESIGNATED DISTRIBUTION | $22,817 |
Tulsa Community Foundation Tulsa, OK PURPOSE: SCHOLARSHIP | $10,000 |
Endowment Analysis
| Beg. Balance | $2,638,878 |
| Earnings | -$278,576 |
| Net Contributions | $114,649 |
| Other Expense | -$99,333 |
| Ending Balance | $2,375,618 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ensworth School Nashville, TN | $203,625,309 | $44,175,360 |
Washington International School Washington, DC | $132,347,025 | $55,642,872 |
American Embassy School Association Washington Dc, DC | $98,314,140 | $33,598,614 |
Capital City Public Charter School Inc Washington, DC | $43,801,166 | $29,982,294 |
Freedom Preparatory Academy Inc Memphis, TN | $50,857,494 | $33,295,008 |
Cannon School Inc Concord, NC | $52,291,449 | $28,580,834 |
Thales Academy Raleigh, NC | $136,454,160 | $55,473,682 |
Franklin Road Academy Inc Nashville, TN | $58,128,778 | $31,046,189 |
Brentwood Academy Inc Brentwood, TN | $50,379,157 | $25,930,047 |
Lake Norman Charter School Inc Huntersville, NC | $64,551,351 | $25,126,213 |
Two Rivers Public Charter School Inc Washington, DC | $70,128,237 | $23,149,054 |
Greensboro Independent School Corporation Greensboro, NC | $42,520,891 | $22,760,621 |