Ravenscroft School Inc
- Assets
- $81.1m
- Revenue
- $36.4m
- Investments
- $0.0
- Employees
- 452
- Location
- Raleigh, NC
- Founding
- 11/1971
- Data as of
- 06/2022
- EIN
- 56-6001583
Organization Overview
Ravenscroft School Inc is located in Raleigh, NC. The organization was established in 1971. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Ravenscroft School Inc employed 452 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ravenscroft 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 06/2022, Ravenscroft School Inc generated $36.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $34.9m during the year ending 06/2022. While expenses have increased by 2.5% 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
OPERATION OF AN INDEPENDENT NONPROFIT SCHOOL THAT INCLUDES PRESCHOOL THROUGH GRADE TWELVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALL FACETS OF PRIMARY & SECONDARY EDUCATION INCLUDING AUXILIARY OPERATIONS, SUMMER PROGRAMS, SCHOLARSHIPS AND FINANCIAL ASSISTANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Doreen C Kelly Head Of School | Officer | 40 | $573,550 |
George L Johnson Ahos - Business & Finance | Officer | 40 | $297,486 |
Philip C Higginson Ahos - Advancement | 40 | $184,625 | |
Edward J Gonet Director Of Athletics | 40 | $144,826 | |
Lisa L Horton Ahos - Human Resources | 40 | $124,044 | |
Aaron D Sundstrom Upper School Division Head | 40 | $123,158 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Brasfield & Gorrie Llc General Contractor | 6/29/22 | $12,142,468 |
The Budd Group Inc Cleaning Service | 6/29/22 | $531,014 |
Little Diversified Architechtural Consul Architect | 6/29/22 | $401,085 |
Tar Heel Landscape Enterprises Inc Landscape Contractor | 6/29/22 | $251,467 |
Flik Independent Schools Food Services | 6/29/22 | $626,935 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $70,137 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,402,346 |
| Noncash contributions included in lines 1a–1f | $651,377 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,472,483 |
| Total Program Service Revenue | $32,315,509 |
| Investment income | $479,647 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $79,009 |
| Net Gain/Loss on Asset Sales | $415,568 |
| Net Income from Fundraising Events | -$8,712 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $36,426,897 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,244,183 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,050,724 |
| Compensation of current officers, directors, key employees. | $1,050,724 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $15,117,351 |
| Pension plan accruals and contributions | $825,275 |
| Other employee benefits | $1,442,971 |
| Payroll taxes | $1,200,279 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $106,939 |
| Fees for services: Accounting | $57,216 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $116,271 |
| Fees for services: Other | $593,287 |
| Advertising and promotion | $0 |
| Office expenses | $339,847 |
| Information technology | $377,468 |
| Royalties | $0 |
| Occupancy | $661,838 |
| Travel | $243,738 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $147,019 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,302,534 |
| Insurance | $329,310 |
| All other expenses | $1,830,137 |
| Total functional expenses | $34,921,722 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $19,760,512 |
| Pledges and grants receivable | $2,392,954 |
| Accounts receivable, net | $310,132 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $140,670 |
| Prepaid expenses and deferred charges | $2,689 |
| Net Land, buildings, and equipment | $32,060,914 |
| Investments—publicly traded securities | $23,635,824 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,786,593 |
| Total assets | $81,090,288 |
| Accounts payable and accrued expenses | $2,204,636 |
| Grants payable | $0 |
| Deferred revenue | $17,725,124 |
| Tax-exempt bond liabilities | $19,101,146 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $6,967 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $372,265 |
| Total liabilities | $39,410,138 |
| Net assets without donor restrictions | $20,961,081 |
| Net assets with donor restrictions | $20,719,069 |
| 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 | $81,090,288 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Ravenscroft School Inc has recieved totaling $3,500.
| Awarding Organization | Amount |
|---|---|
Dameron Foundation Raleigh, NC PURPOSE: CHARITY ED EDUCATION | $3,500 |
Endowment Analysis
| Beg. Balance | $22,304,856 |
| Earnings | -$3,118,461 |
| Net Contributions | $502,192 |
| Other Expense | $585,591 |
| Grants | $134,644 |
| Ending Balance | $18,968,352 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Woodward Academy Inc College Park, GA | $297,987,009 | $85,209,091 |
Westminster Schools Inc Atlanta, GA | $596,739,021 | $99,709,851 |
Imagine Schools Non-Profit Inc Vienna, VA | $161,309,849 | $62,482,447 |
Lovett School Atlanta, GA | $255,570,564 | $63,708,553 |
The East Coast Migrant Head Start Project Raleigh, NC | $15,412,919 | $60,635,891 |
Charlotte Country Day School Charlotte, NC | $226,176,676 | $57,558,870 |
Collegiate School Richmond, VA | $158,195,585 | $59,848,503 |
Mccallie School Inc Chattanooga, TN | $251,954,499 | $79,356,942 |
Potomac School Mclean, VA | $225,192,195 | $49,665,882 |
Providence Day School Charlotte, NC | $110,524,658 | $50,140,053 |
Flint Hill School Oakton, VA | $94,406,099 | $45,449,765 |
Charlotte Latin Schools Inc Charlotte, NC | $136,686,590 | $47,461,290 |