Lovett School
- Assets
- $239.1m
- Revenue
- $65.1m
- Investments
- $17.2m
- Employees
- 741
- Location
- Atlanta, GA
- Founding
- 10/1937
- Data as of
- 06/2022
- EIN
- 58-0619038
Organization Overview
Lovett School, operating under the name The Lovett School, is located in Atlanta, GA. The organization was established in 1937. 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, Lovett School employed 741 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lovett 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, Lovett School generated $65.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $61.1m during the year ending 06/2022. While expenses have increased by 1.3% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE LOVETT SCHOOL IS A K-12 SCHOOL FOR FAMILIES WHO VALUE THE BALANCED EDUCATION OF THE WHOLE CHILD.
Describe the Organization's Program Activity:
THE LOVETT SCHOOL WAS FOUNDED IN 1926 BY EVA EDWARDS LOVETT AND RETAINS HER EMPHASIS ON THE DEVELOPMENT OF THE WHOLE CHILD. LOVETT BELIEVES THAT IT IS THE SCHOOL'S RESPONSIBILITY TO DEVELOP THE FUNDAMENTAL SKILLS, A LOVE OF LEARNING, AND THE APPLICATION OF GOOD JUDGEMENT TO WHAT IS LEARNED. DISTINCTIVE FEATURES OF THE CURRICULUM INCLUDE EXPERIENTIAL EDUCATION AND INTERDISCIPLINARY STUDIES. COMPREHENSIVE FINE ARTS PROGRAMS ARE OFFERED IN EACH SCHOOL DIVISION AND A FULL ATHLETIC PROGRAM PROVIDES EACH STUDENT AN OPPORTUNITY TO EXPERIENCE THE VALUE OF TEAM EFFORT AND SPORTSMANSHIP. STUDENTS PARTICIPATE IN A VARIETY OF COMMUNITY SERVICE ACTIVITIES, AND NONDENOMINATIONAL CHAPEL SERVICES ARE HELD WEEKLY IN ALL SCHOOL DIVISIONS. LOVETT SEEKS STUDENTS FROM ALL ETHNIC, CULTURAL, RACIAL, AND RELIGIOUS BACKGROUNDS WHO CAN BENEFIT FROM A CHALLENGING ACADEMIC PROGRAM. THE STUDENT BODY IS APPROXIMATELY 1,600.
LOVETT OFFERS AFTER-SCHOOL ACTIVITIES, SUMMER ACADEMIC COURSES, SUMMER CAMPS, AND OTHER ENRICHMENT OPPORTUNITIES TO STUDENTS WHICH FURTHER BENEFIT THE STUDENT BODY AND OTHER PERSONS WITHIN AND OUTSIDE THE LOVETT COMMUNITY. LOVETT'S SIEMPRE VERDE IS A PROTECTED PRESERVE OF CLOUD FOREST PROPERTY IN ECUADOR OWNED AND SUPPORTED BY LOVETT TO PROMOTE ENVIRONMENTAL AND CONSERVATION EDUCATION. THE EDUCATIONAL INSTITUTION OFFERS STUDENTS, AND OTHER PERSONS BOTH WITHIN THE LOVETT COMMUNITY, AS WELL AS OUTSIDE THE LOVETT COMMUNITY, AN OPPORTUNITY TO LEARN ABOUT ENVIRONMENTAL PROTECTION, PRESERVATION, AND CONSERVATION METHODS THROUGH RESEARCH AND THE EXCHANGE OF IDEAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John O Knox Jr Chairman | OfficerTrustee | 0.5 | $0 |
John C Staton III Vice Chair | OfficerTrustee | 0.5 | $0 |
Nancy Brumley Robitaille Secretary | OfficerTrustee | 0.5 | $0 |
David B Allman Trustee | Trustee | 0.5 | $0 |
Yetty Arp Trustee | Trustee | 0.5 | $0 |
Katherine R Boudreau Trustee | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cleanstar Janitorial | 6/29/22 | $1,043,980 |
Shaw Sport Turf Turf Installer | 6/29/22 | $428,479 |
Cedar & Burwell Strategic Consulting Dei Stategists | 6/29/22 | $375,000 |
Dco Commercial Flooring Flooring Contractor | 6/29/22 | $191,612 |
Occupied Renovations Flooring Contractor | 6/29/22 | $181,006 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $109,084 |
| Fundraising events | $439,276 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,243,511 |
| Noncash contributions included in lines 1a–1f | $244,908 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,791,871 |
| Total Program Service Revenue | $54,998,546 |
| Investment income | $1,815,549 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $48,049 |
| Net Gain/Loss on Asset Sales | $99,143 |
| Net Income from Fundraising Events | $84,460 |
| Net Income from Gaming Activities | $28,725 |
| Net Income from Sales of Inventory | $214,375 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $65,080,718 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $4,464,720 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,199,578 |
| Compensation of current officers, directors, key employees. | $947,315 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $29,451,703 |
| Pension plan accruals and contributions | $2,744,138 |
| Other employee benefits | $3,446,010 |
| Payroll taxes | $2,063,767 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $214,449 |
| Fees for services: Accounting | $50,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $129,315 |
| Fees for services: Investment Management | $259,898 |
| Fees for services: Other | $2,402,778 |
| Advertising and promotion | $167,217 |
| Office expenses | $926,815 |
| Information technology | $1,701,198 |
| Royalties | $0 |
| Occupancy | $1,864,452 |
| Travel | $839,655 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $202,429 |
| Interest | $826,826 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,730,632 |
| Insurance | $690,095 |
| All other expenses | $150,276 |
| Total functional expenses | $61,111,945 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,340 |
| Savings and temporary cash investments | $32,210,612 |
| Pledges and grants receivable | $1,424,178 |
| Accounts receivable, net | $249,902 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $129,059 |
| Prepaid expenses and deferred charges | $1,415,982 |
| Net Land, buildings, and equipment | $77,565,921 |
| Investments—publicly traded securities | $107,871,634 |
| Investments—other securities | $17,166,489 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,102,930 |
| Total assets | $239,138,047 |
| Accounts payable and accrued expenses | $5,310,436 |
| Grants payable | $0 |
| Deferred revenue | $10,064,723 |
| 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 | $24,729,214 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,523,585 |
| Total liabilities | $42,627,958 |
| Net assets without donor restrictions | $119,134,649 |
| Net assets with donor restrictions | $77,375,440 |
| 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 | $239,138,047 |