Bright School Inc
- Assets
- $20.4m
- Revenue
- $7.5m
- Investments
- $3.2m
- Employees
- 119
- Location
- Chattanooga, TN
- Founding
- 03/1951
- Data as of
- 05/2022
- EIN
- 62-0476284
Organization Overview
Bright School Inc is located in Chattanooga, TN. The organization was established in 1951. According to its NTEE Classification (B21) the organization is classified as: Preschools, under the broad grouping of Education and related organizations. As of 05/2024, Bright School Inc employed 119 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bright 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 05/2022, Bright School Inc generated $7.5m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $6.1m during the year ending 05/2022. While expenses have increased by 1.6% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SCHOOL COMMITTED TO BUILDING A FOUNDATION TO BECOME WISE AND COMPASSIONATE CITIZENS OF THE WORLD
Describe the Organization's Program Activity:
PROVIDE EXCELLENT EDUCATIONAL INSTRUCTION FOR ELEMENTARY AGE BOYS AND GIRLS
MAINTENANCE
SUMMER SCHOOL AND OTHER PROGRAMS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Betsey Kates Chair | OfficerTrustee | 2 | $0 |
Henry Aldridge Trustee | Trustee | 2 | $0 |
Robert Batson Trustee | Trustee | 2 | $0 |
Chase Bullard Trustee | Trustee | 2 | $0 |
Jonathon Bullard Trustee | Trustee | 2 | $0 |
Kamri Busby Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $996,736 |
| Investment income | $253,139 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $473,513 |
| Net Income from Fundraising Events | $94,445 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,512,519 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $332,487 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $183,333 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,927,893 |
| Pension plan accruals and contributions | $108,664 |
| Other employee benefits | $218,399 |
| Payroll taxes | $227,097 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,573 |
| Fees for services: Accounting | $25,044 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $21,903 |
| Advertising and promotion | $72,353 |
| Office expenses | $21,947 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $163,835 |
| Travel | $39,250 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $351,836 |
| Insurance | $65,838 |
| All other expenses | $0 |
| Total functional expenses | $6,100,190 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $167,327 |
| Savings and temporary cash investments | $4,082,555 |
| Pledges and grants receivable | $277,155 |
| Accounts receivable, net | $26,957 |
| 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 | $0 |
| Investments—publicly traded securities | $5,025,051 |
| Investments—other securities | $3,235,252 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $20,360,552 |
| Accounts payable and accrued expenses | $745,134 |
| Grants payable | $0 |
| Deferred revenue | $506,581 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,251,715 |
| Net assets without donor restrictions | $14,574,466 |
| Net assets with donor restrictions | $4,534,371 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $19,108,837 |