Louise S Mcgehee School
- Assets
- $27.4m
- Revenue
- $15.3m
- Investments
- $0.0
- Employees
- 257
- Location
- New Orleans, LA
- Founding
- 05/1937
- Data as of
- 06/2022
- EIN
- 72-0408943
Organization Overview
Louise S Mcgehee School is located in New Orleans, LA. 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, Louise S Mcgehee School employed 257 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Louise S Mcgehee 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, Louise S Mcgehee School generated $15.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $14.3m during the year ending 06/2022. While expenses have increased by 0.2% 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
THE LOUISE S. MCGEHEE SCHOOL PROVIDES EACH GIRL WITH THE FOUNDATION TO REALIZE HER INDIVIDUAL POTENTIAL THROUGH A RIGOROUS ACADEMIC EDUCATION GUIDED BY HONOR, SERVICE AND LEADERSHIP. IN THIS DYNAMIC, INCLUSIVE COMMUNITY, STUDENTS DEVELOP LIFELONG LEARNING SKILLS THROUGH THE USE OF CRITICAL AND ETHICAL THINKING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LOUISE S. MCGEHEE SCHOOL USED TRADITIONAL AND INNOVATIVE TEACHING STRATEGIES TO PROVIDE AN EXCEPTIONAL LEARNING EXPERIENCE TO 464 YOUNG WOMEN ATTENDING PRE-K THROUGH TWELFTH GRADE, AND 172 YOUNG CHILDREN IN LITTLE GATE EARLY CHILDHOOD DEVELOPMENT, FOR A TOTAL OF 636 STUDENTS DURING THE 2021-2022 ACADEMIC YEAR. THE EXPENSES OF THE EXEMPT PURPOSE OF THE SCHOOL WERE NECESSARY TO SUPPORT NEED-BASED FINANCIAL ASSISTANCE, FACULTY SALARIES AND BENEFITS, TECHNOLOGY UPGRADES, SCIENCE, TECHNOLOGY, ENGINEERING, ARTS, MATH, AND SPECIAL PROGRAMS AND ACTIVITIES TO A DIVERSE POPULATION OF GIRLS IN THE GREATER NEW ORLEANS AREA.
FINANCIAL AID FOR 144 STUDENTS ENCOMPASSING ALL GRADE LEVELS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laura Shields Board Chair | OfficerTrustee | 1 | $0 |
Harriet Muffin Balart Trustee | Trustee | 1 | $0 |
Adelaide Wisdom Benjamin Trustee | Trustee | 1 | $0 |
E Christian Blessey Trustee | Trustee | 1 | $0 |
Caroline Monsted Brady Member At Large | OfficerTrustee | 1 | $0 |
J Randolph Bryan Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Healthy Course Meals And Supplements Meal Services | 6/29/22 | $468,068 |
Jrs Extreme Cleaning Service Cleaning | 6/29/22 | $331,491 |
Baker Donelson Bearman Caldwell And B Legal Services | 6/29/22 | $112,543 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $45,163 |
| Related organizations | $0 |
| Government grants | $93,546 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,564,538 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,703,247 |
| Total Program Service Revenue | $13,285,394 |
| Investment income | $31,466 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $181,321 |
| Net Income from Fundraising Events | $51,440 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,252,868 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,122,393 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $453,939 |
| Compensation of current officers, directors, key employees. | $369,526 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,489,337 |
| Pension plan accruals and contributions | $263,185 |
| Other employee benefits | $520,284 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $237,457 |
| Advertising and promotion | $132,106 |
| Office expenses | $250,891 |
| Information technology | $206,079 |
| Royalties | $0 |
| Occupancy | $254,203 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $81,301 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $650,591 |
| Insurance | $353,457 |
| All other expenses | $265,316 |
| Total functional expenses | $14,257,742 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,555,398 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $176,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $200,000 |
| Inventories for sale or use | $52,935 |
| Prepaid expenses and deferred charges | $578,467 |
| Net Land, buildings, and equipment | $12,442,300 |
| Investments—publicly traded securities | $6,350,222 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $67,639 |
| Total assets | $27,422,961 |
| Accounts payable and accrued expenses | $866,107 |
| Grants payable | $0 |
| Deferred revenue | $5,583,062 |
| 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 | $3,640,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,290,206 |
| Total liabilities | $12,379,375 |
| Net assets without donor restrictions | $8,916,787 |
| Net assets with donor restrictions | $6,126,799 |
| 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 | $27,422,961 |