Asheville School Incorporated
- Assets
- $109.1m
- Revenue
- $30.6m
- Investments
- $10.5m
- Employees
- 157
- Location
- Asheville, NC
- Founding
- 04/1946
- Data as of
- 06/2022
- EIN
- 56-0530248
Organization Overview
Asheville School Incorporated is located in Asheville, NC. The organization was established in 1946. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 06/2022, Asheville School Incorporated employed 157 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Asheville School Incorporated 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, Asheville School Incorporated generated $30.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.3% each year. All expenses for the organization totaled $21.4m during the year ending 06/2022. While expenses have increased by 4.5% 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
TO PREPARE OUR STUDENTS FOR COLLEGE AND FOR LIFE AND TO PROVIDE AN ATMOSPHERE IN WHICH ALL MEMBERS OF A DIVERSE, ENGAGED, AND PURPOSEFULLY SMALL SCHOOL COMMUNITY APPRECIATE AND STRIVE FOR EXCELLENCE - AN ATMOSPHERE THAT NURTURES CHARACTER AND FOSTERS THE DEVELOPMENT OF MIND, BODY, AND SPIRIT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASHEVILLE SCHOOL IS A COLLEGE PREPARATORY SCHOOL FOR STUDENTS IN GRADES NINE THROUGH TWELVE. STUDENTS REPRESENT TWENTY-SIX U.S. STATES AND EIGHTEEN FOREIGN COUNTRIES. THIRTY-FIVE PERCENT OF STUDENTS RECEIVE FINANCIAL AID FROM THE SCHOOL. ONE HUNDRED PERCENT OF STUDENTS IN THE CLASS OF 2022 ARE ATTENDING COLLEGE AFTER GRADUATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Anthony H Sgro Head Of Scho | Officer | 50 | $545,777 |
Robert Mcarthur Assistant Tr | Officer | 50 | $192,233 |
Leigh Ruhl Asst. Head O | 50 | $173,451 | |
Jay Bonner Master Teach | 50 | $131,764 | |
Scott Miller Counselor | 50 | $104,913 | |
Lara Glass Vice Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sage Dining Food Service | 6/29/22 | $1,749,117 |
Healthgram Health Ins. | 6/29/22 | $1,238,747 |
Budd Group Cleaning | 6/29/22 | $399,130 |
Rlc Service Group Contractor | 6/29/22 | $320,374 |
Us Security Associates Inc Security | 6/29/22 | $355,088 |
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 | $6,001,195 |
| Noncash contributions included in lines 1a–1f | $1,152,822 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,001,195 |
| Total Program Service Revenue | $18,374,376 |
| Investment income | $1,277,205 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $114,866 |
| Net Gain/Loss on Asset Sales | $4,638,219 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $6,271 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $30,624,972 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,804,629 |
| Grants and other assistance to Foreign Orgs/Individuals | $654,725 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $722,907 |
| Compensation of current officers, directors, key employees. | $534,644 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,662,006 |
| Pension plan accruals and contributions | $612,423 |
| Other employee benefits | $1,383,374 |
| Payroll taxes | $500,309 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $110,883 |
| Fees for services: Accounting | $52,423 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,302,258 |
| Advertising and promotion | $103,087 |
| Office expenses | $129,493 |
| Information technology | $249,987 |
| Royalties | $0 |
| Occupancy | $725,769 |
| Travel | $323,197 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $69,312 |
| Interest | $83,997 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,790,038 |
| Insurance | $205,914 |
| All other expenses | $170,842 |
| Total functional expenses | $21,410,726 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,500 |
| Savings and temporary cash investments | $15,105,750 |
| Pledges and grants receivable | $2,731,429 |
| Accounts receivable, net | $63,119 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $36,651 |
| Prepaid expenses and deferred charges | $447,226 |
| Net Land, buildings, and equipment | $23,694,310 |
| Investments—publicly traded securities | $54,687,559 |
| Investments—other securities | $10,529,818 |
| Investments—program-related | $0 |
| Intangible assets | $42,897 |
| Other assets | $1,731,841 |
| Total assets | $109,072,100 |
| Accounts payable and accrued expenses | $715,922 |
| Grants payable | $0 |
| Deferred revenue | $2,831,702 |
| Tax-exempt bond liabilities | $3,010,000 |
| Escrow or custodial account liability | $4,390 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $50,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $348,796 |
| Total liabilities | $6,960,810 |
| Net assets without donor restrictions | $44,999,936 |
| Net assets with donor restrictions | $57,111,354 |
| 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 | $109,072,100 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Asheville School Incorporated has recieved totaling $38,473.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $23,100 |
The Community Foundation Of Western North Carolina Inc Asheville, NC PURPOSE: IMPROVING EDUCATIONAL OPPORTUNITIES | $7,250 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $6,852 |
Pfizer Foundation Inc New York, NY PURPOSE: MATCHING GIFTS | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $271 |
Endowment Analysis
| Beg. Balance | $74,747,303 |
| Earnings | -$10,569,084 |
| Net Contributions | $2,226,603 |
| Other Expense | -$1,828,170 |
| Grants | -$666,214 |
| Ending Balance | $63,910,438 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Protestant Episcopal High School In Virginia Alexandria, VA | $560,084,637 | $67,951,795 |
The Baylor School Chattanooga, TN | $270,105,763 | $47,683,171 |
Woodberry Forest School Woodberry Forest, VA | $643,383,708 | $54,060,513 |
University Of Nashville Montgomery Bell Academy Nashville, TN | $303,405,415 | $41,667,135 |
Rabun Gap-Nacoochee School Rabun Gap, GA | $105,001,665 | $32,375,355 |
Tallulah Falls School Inc Tallulah Falls, GA | $76,684,503 | $23,311,796 |
Cary Academy Cary, NC | $92,134,722 | $26,213,526 |
Whitefield Academy Inc Mableton, GA | $76,378,322 | $24,777,271 |
Battle Ground Academy Of Franklin Tennessee Franklin, TN | $62,773,782 | $25,765,415 |
Riverside Military Academy Inc Gainesville, GA | $79,257,666 | $23,072,082 |
National Association Of Secondary -School Principals Reston, VA | $56,104,392 | $28,736,000 |
Asheville School Incorporated Asheville, NC | $109,072,100 | $30,624,972 |