Carolina Day School Inc
- Assets
- $29.4m
- Revenue
- $19.9m
- Investments
- $0.0
- Employees
- 218
- Location
- Asheville, NC
- Founding
- 01/1944
- Data as of
- 06/2021
- EIN
- 56-0125490
Organization Overview
Carolina Day School Inc is located in Asheville, NC. The organization was established in 1944. 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 06/2021, Carolina Day School Inc employed 218 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carolina Day 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 06/2021, Carolina Day School Inc generated $19.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $18.8m during the year ending 06/2021. While expenses have increased by 2.6% per year over the past 6 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
PROVIDING EDUCATIONAL SERVICES TO THE COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O CAROLINA DAY SCHOOL IS A MODEL OF ACADEMIC EXCELLENCE, A LEADER IN CURRICULAR INNOVATION, AND IS AN ACCREDITED, CO-EDUCATIONAL, SECULAR, INDEPENDENT DAY SCHOOL. IN THE 2020-21 SCHOOL YEAR, 556 STUDENTS ENROLLED IN PRE-KINDERGARTEN THROUGH GRADE 12. CAROLINA DAY SCHOOL DELIVERS A RICH, DIFFERENTIATED, PERSONALLY RIGOROUS, WHOLE-CHILD ACADEMIC EXPERIENCE THAT FOSTERS ACCELERATED LEARNING, AND PROVIDES SUPPORTS WHEN NECESSARY TO ACADEMICALLY CAPABLE, MOTIVATED AND INQUISITIVE STUDENTS. EXPERIENTIAL, DEEP LEARNING IS HALLMARK TO THE PROGRAM. EXCEPTIONAL FACULTY DEEPLY KNOW THEIR STUDENTS, WHO DISTINGUISH THEMSELVES NOT ONLY ACADEMICALLY, BUT ALSO ARTISTICALLY, ATHLETICALLY, AND SOCIALLY IN A COMMUNITY BUILT ON TRUST, INTEGRITY, AND KINDNESS.THE KEY SCHOOL, ESTABLISHED IN 1997, IS A DIVISION OF CAROLINA DAY SCHOOL. THE KEY SCHOOL PROVIDES EDUCATIONAL OPPORTUNITIES FOR BRIGHT STUDENTS WITH LANGUAGE-BASED LEARNING DIFFERENCES. THE KEY SCHOOL'S TEACHER TRAINING PROGRAM IS ACCREDITED BY THE INTERNATIONAL MULTISENSORY STRUCTURED LANGUAGE EDUCATION COUNCIL, THE ACADEMY OF ORTON- GILLINGHAM PRACTITIONERS AND EDUCATORS, AND THE INTERNATIONAL DYSLEXIA ASSOCIATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephanie Whitney Head Of School | Officer | 50 | $150,773 |
Kirk Duncan Former Head Of School | 0 | $147,600 | |
Brett Fuhrman CFO Thru' 08/01/2020 / Consultant | Officer | 40 | $123,041 |
Diane Milner Key School Principal | 40 | $118,180 | |
Jeffry Kalil Middle School Principal | 40 | $114,881 | |
Elaine Kreuz Dir. Of Advancement | 40 | $113,879 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Inspection Ready Cleaning Cleaning Service | 6/29/21 | $174,635 |
Electronic Office Computer Consulting | 6/29/21 | $174,765 |
H&m Constructors Construction Services | 6/29/21 | $169,355 |
Wilde Acre Landscapes Landscaping Services | 6/29/21 | $125,972 |
Clark Nexsen Inc Architectural Services | 6/29/21 | $105,959 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $56,600 |
| Related organizations | $0 |
| Government grants | $2,059,192 |
| All other contributions, gifts, grants, and similar amounts not included above | $558,560 |
| Noncash contributions included in lines 1a–1f | $32,912 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,674,352 |
| Total Program Service Revenue | $16,889,202 |
| Investment income | $151,586 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $113,785 |
| Net Income from Fundraising Events | $30,661 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,874,947 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,957,152 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $298,373 |
| Compensation of current officers, directors, key employees. | $298,373 |
| Compensation to disqualified persons | $133,501 |
| Other salaries and wages | $7,640,864 |
| Pension plan accruals and contributions | $370,683 |
| Other employee benefits | $2,098,771 |
| Payroll taxes | $579,722 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $17,396 |
| Fees for services: Accounting | $40,306 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $35,049 |
| Fees for services: Other | $655,691 |
| Advertising and promotion | $99,229 |
| Office expenses | $317,525 |
| Information technology | $536,196 |
| Royalties | $0 |
| Occupancy | $366,654 |
| Travel | $24,785 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,907 |
| Interest | $102,447 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $939,636 |
| Insurance | $91,517 |
| All other expenses | $0 |
| Total functional expenses | $18,827,442 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $390,180 |
| Savings and temporary cash investments | $4,497,920 |
| Pledges and grants receivable | $57,077 |
| Accounts receivable, net | $125,504 |
| 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 | $229 |
| Net Land, buildings, and equipment | $18,251,347 |
| Investments—publicly traded securities | $6,090,632 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $29,412,889 |
| Accounts payable and accrued expenses | $1,009,326 |
| Grants payable | $0 |
| Deferred revenue | $1,331,864 |
| 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 | $3,078,559 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $188,053 |
| Total liabilities | $5,607,802 |
| Net assets without donor restrictions | $19,318,973 |
| Net assets with donor restrictions | $4,486,114 |
| 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 | $29,412,889 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Carolina Day School Inc has recieved totaling $17,000.
| Awarding Organization | Amount |
|---|---|
Bailey Family Foundation Inc Vero Beach, FL PURPOSE: CHARITABLE PURPOSES | $17,000 |
Endowment Analysis
| Beg. Balance | $4,891,521 |
| Earnings | $1,409,161 |
| Net Contributions | $4,950 |
| Other Expense | $215,000 |
| Ending Balance | $6,090,632 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ensworth School Nashville, TN | $203,625,309 | $44,175,360 |
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 |
Mt Paran Christian School Inc Kennesaw, GA | $56,928,804 | $29,889,603 |
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 |
Greensboro Independent School Corporation Greensboro, NC | $42,520,891 | $22,760,621 |
Trinity School Inc Atlanta, GA | $133,203,671 | $25,058,941 |
Hammond School Columbia, SC | $54,753,815 | $20,190,119 |
Carolina Day School Inc Asheville, NC | $29,412,889 | $19,874,947 |