International Montessori School Inc
- Assets
- $8.4m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 51
- Location
- Durham, NC
- Founding
- 07/2005
- Data as of
- 06/2023
- EIN
- 56-2252150
Organization Overview
International Montessori School Inc is located in Durham, NC. The organization was established in 2005. According to its NTEE Classification (B21) the organization is classified as: Preschools, under the broad grouping of Education and related organizations. As of 06/2023, International Montessori School Inc employed 51 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. International Montessori 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 06/2023, International Montessori School Inc generated $2.9m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 11.2% each year . All expenses for the organization totaled $2.5m during the year ending 06/2023. While expenses have increased by 13.1% per year over the past 4 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
INTERNATIONAL MONTESSORI SCHOOL (IMS) IS A INDEPENDENT NOT-FOR-PROFIT SCHOOL WHICH OFFERS AN EDUCATION THAT COMBINES FOREIGN LANGUAGE IMMERSION WITH A SOLID ACADEMIC FOUNDATION IN THE MONTESSORI TRADITION FOR CHILDREN AGES 18 MONTHS TO 12 (PRESCHOOL THROUGH 6TH GRADE).OUR MISSION IS TO FOSTER CURIOUS AND CONFIDENT STUDENTS WHO EMBRACE DIVERSITY AND HAVE A POSITIVE IMPACT ON THE WORLD.
Describe the Organization's Program Activity:
IMS WAS ESTABLISHED IN 1996, WITH THE MISSION TO PREPARE CHILDREN FOR SUCCESS IN AN INCREASINGLY GLOBAL SOCIETY BY BECOMING CONTRIBUTING, BILINGUAL CITIZENS. THE INTERNATIONAL MONTESSORI SCHOOL (IMS) IS A LANGUAGE IMMERSION MONTESSORI SCHOOL OFFERING TRACKS IN FRENCH, SPANISH, AND MANDARIN CHINESE FOR CHILDREN REGARDLESS OF RACE, OR NATIONAL OR ETHNIC ORIGIN. IMS SERVICED 151 STUDENT FROM PRESCHOOL THROUGH 6TH GRADE IN 3 DIFFERENCE LANGUAGE TRACKS, FRENCH (42 STUDENTS), SPANISH (57 STUDENTS), & CHINESE (40 STUDENTS). THE TODDLER PROGRAM SERVED 12 STUDENTS.
IMS RUNS ADDITIONAL PROGRAMS TO SUPPORT SCHOOL STUDENTS INCLUDING AN AFTER SCHOOL PROGRAM, A BEFORE SCHOOL EARLY DROP OFF PROGRAM AND A SUMMER CAMP PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Whit Scott Treasurer | OfficerTrustee | 10 | $0 |
Evan Dodds Chair | OfficerTrustee | 10 | $0 |
Kelly Ritch Vice Chair | OfficerTrustee | 10 | $0 |
Kelly Williams Member | Trustee | 10 | $0 |
Brian Scott Secretary | OfficerTrustee | 10 | $0 |
Christina Cruz Member | Trustee | 10 | $0 |
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 | $159,239 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $159,239 |
| Total Program Service Revenue | $2,417,875 |
| Investment income | $5,800 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $293,694 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $18,200 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,894,808 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $119,766 |
| Compensation of current officers, directors, key employees. | $101,802 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,337,163 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $159,974 |
| Payroll taxes | $109,101 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $28,639 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $32,263 |
| Advertising and promotion | $7,788 |
| Office expenses | $48,252 |
| Information technology | $12,768 |
| Royalties | $0 |
| Occupancy | $266,128 |
| Travel | $1,640 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $435 |
| Interest | $154,843 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $164,825 |
| Insurance | $23,249 |
| All other expenses | $0 |
| Total functional expenses | $2,525,364 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $261,158 |
| Savings and temporary cash investments | $1,030,105 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,683 |
| 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 | $41,520 |
| Net Land, buildings, and equipment | $6,737,467 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $270,035 |
| Other assets | $0 |
| Total assets | $8,354,968 |
| Accounts payable and accrued expenses | $159,604 |
| Grants payable | $0 |
| Deferred revenue | $1,043,294 |
| 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 | $4,863,780 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $278,214 |
| Total liabilities | $6,344,892 |
| Net assets without donor restrictions | $2,010,076 |
| Net assets with donor restrictions | $0 |
| 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 | $8,354,968 |